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11 January 2021 | 2 replies
Non ad valorem would be taxes that are evenly applied to all properties regardless of value on a per-property basis, commonly for community road improvements, new fire stations, CDD (community development district), or other items like that which impact a small part of the county which those seeing benefit repay over a period of time.
21 October 2021 | 56 replies
It was such a simple “sacrifice” for such a short period of my life I try to tell everyone I meet how they could do it.
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22 January 2020 | 21 replies
21 years ago, I did EXACTLY what you mentioned in your first post.... bought a 2 family building in Brooklyn, lived in the basement and rented the other 2 apts, did not have cash flow but at least broke even.Back then, I bought the property for $340k with a Mortgage of $272k, fixed.That Mortgage is nearly gone and 21 years of rent appreciation has given me a very decent cash flow as the rents rose way above my mortgage and other expenses.This is NYC, it is normal for Market Rents to rise very consistently for a long period of time, barely dipping.That house is current worth $1.7 Million conservatively.
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21 January 2020 | 3 replies
. :-)Rental periods after moving out is exempt from non-qualified use.
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4 February 2020 | 3 replies
You are typically looking at 75% ltv, 20-25 year amortizations, 5-6% interest rate depending on call period, 3-7 year balloon payment.
7 February 2020 | 7 replies
It's a big portion of your owners' manual.https://housing.az.gov/sites/default/files/documents/files/Landlord-Tenant-Act-ADOH-Publication-July-2018_0.pdf33-1375(B) The landlord or the tenant may terminate a month-to-month tenancy by a written notice givento the other at least thirty days prior to the periodic rental date specified in the noticeIf they cannot produce valid leases, then they are month-to-month tenants.
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21 January 2020 | 2 replies
I think you are talking specifically about capital gains taxes which I think the rule is that if the property is your personal residence for 2 years of any 5 year period then no you don't.
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21 January 2020 | 3 replies
The reason thats important is because when BRRRRing properties, lenders will require a seasoning period to expire before they will approve a cash-out refi.
22 January 2020 | 7 replies
Hello @Tom EndleinRedemption period in Michigan is 6 months, and can be extended to 12 months if the amount due is less than 2/3 of the original loan amount.
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26 January 2020 | 11 replies
I watch the small multifamily market in baltimore closely and there are a couple beautifully rehabbed (but in my opinion overpriced) duplexes that have been on the market for an extended period of time.