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5 October 2016 | 1 reply
You are still allowed to reject that unauthorized roommate if you find criminal or other negative findings from the screening.If you decide to approve the new tenant, just draw up a new lease for a 1 year term (or your choice) with the new rent and make sure all roommates are included on the lease. easier that doing addendums for rent and roommates etc. and you get them to commit to a new 12 month lease so you dont risk move-outs in the middle of winter.
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5 October 2016 | 6 replies
@Christina McManaway thanks for the responseProperty management is included in the 9500 (the property manager gets free rent on a 2/1/1)2/1/1 gets average of 650 (3,200)3/2/1 gets average of 800 (6,400)These rental rates are older also.
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12 October 2016 | 7 replies
Include the high property taxes, and it's tough to find a the right BRRR property.
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10 October 2016 | 14 replies
After all expenses including mortgage, insurance, water, property management, cap ex, turn over, everything, I'm making $2,000/month which is 15-16% cash on cash return.
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10 October 2016 | 6 replies
Hello everyone, I am brand spanking new in the real estate world.
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15 October 2016 | 11 replies
However, this just makes my decisions even harder because I cannot get a good grasp on what my goals should be prior to purchasing.I can see how including many investors into the equation can make it difficult, but what if we simplified the scenario by just using 2 investors, me and a friend.
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5 October 2016 | 2 replies
And this year 2016 is my best year as far as my salary goes, including tons of OT.
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6 October 2016 | 8 replies
I used mostly credit cards and borrowed money for the purchase down payment and rehab cost, and now that we're finishing up I'm doing numbers on payback and the next property.I want to keep up momentum and start the next project soon, but by my count, it will take me somewhere around 5-6 months to pay off all the debts I incurred in the process of purchasing and rehabbing the house (not including the mortgage).
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13 October 2016 | 22 replies
I am including the few days to even get the transfer started & then its 3 weeks or so after signing the LSA/PSA, wiring funds, etc.
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6 October 2016 | 6 replies
RBC - and perhaps briefly TD - are/were the only two of the Big 5 who were underwriting 5 & 6 unit properties as residential as opposed to commercial.Additionally, RBC will lend to the point where you have five mortgages (including your personal residence), so use them early in your property acquisition plan and strategically if you find a 5 or 6 unit worth acquiring.