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27 October 2018 | 3 replies
I have not had a tenant issue (sample size of two properties and I just purchased one so take it for what it's worth).More important than my opinion, my property manager on the ground is very conservative and green lights this neighborhood all day which is a good sign.
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31 January 2019 | 4 replies
Provide them with sample analysis and compare your ARV and rent comps to theirs.
11 May 2019 | 2 replies
If at any point the property owner pays off the overdue property taxes before the lien expires (period may vary by state), the county is the party that earns the interest.Properties that are owner-occupied (as indicated by a homestead exemption showing up on the annual tax bills) or have a mortgage are most likely to be bid on because they have a higher likelihood of being paid off either by the homeowner or the mortgagee (the lender); the homeowner probably doesn't want to lose his/her place of residence and the lender probably doesn't want to lose its investment.If no one has bid on a lien, there are likely issue(s) with the property that, in the eyes of bidders with investor mindsets, render the property valueless, for example:the property has no direct access (landlocked or waterlocked),the property is too small to be built on as-of-right per the municipality's zoning codes,the property is contaminated (a Phase I environmental report would scour records on the property to see if contamination is likely, and if so, a Phase II environmental report would be done and soil, etc. samples would be taken to confirm the contamination),the market fundamentals indicate little probability for profit given the level of risk, such as high vacancy rates, low rents, or slow sale/rental velocity,the property is in a "poor" location due to many of the types of things that turn off people looking for a home in which to live, such as high crime; poor or nonexistent infrastructure, such a streets, water & sewer, etc.; too rural/too urban; neighboring uses detrimental to the property's value, e.g. railroad, warehousing/industrial district, jail/prison, cemetery, etc.I hope that helps!
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15 April 2019 | 5 replies
If you are using a property manager ask to see sample reports and ask for referrals.
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8 April 2017 | 10 replies
@Casey Mericle Lets say that you would like to establish a relationship with this lender and have prepared a sample deal/Prospectus of the exact deals you are looking to do and you would like to obtain a pre-approval letter and proof of funds statement which will allow you to submit offers and be taken serious by real estate agents, will they see this as a waste of there time?
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1 January 2018 | 1 reply
Or find some samples online, modify to your situation, and then run them by a lawyer for a quick check.
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5 August 2017 | 2 replies
If you're very happy about your building's exceptionally low maintenance and don't mind that its lobby looks like a time capsule from the 1970s, you probably don't want new neighbors who want to spend the co-op's money to renovate it.If you’re an artist who needs a large, high-ceilinged space to make art but who isn’t rich and famous yet, you may not want to spend money on amenities like roof decks and exercise rooms.
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17 August 2017 | 3 replies
This would be a great property analysis exercise for us to go through and I am sure we would all learn something in the process.
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19 March 2017 | 2 replies
Additionally, you would remain the titled owner until the tenant exercised their purchase option or the instalment sale was completed.
23 March 2017 | 8 replies
You can do this in your current situation, it just means you have to exercise more care about what kind of place(s) you buy.