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23 July 2024 | 6 replies
Many agents don't know what that is and sometimes they freak out because they think it's a scam.But in terms of the structure it's a simple and often used strategy.
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24 July 2024 | 15 replies
It keeps track of all of our capital improvements, loan costs, cost basis, etc.
24 July 2024 | 6 replies
Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.
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22 July 2024 | 17 replies
Many people who are long term renters can't save enough money or have problems with credit, hence they are still renting.
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22 July 2024 | 6 replies
When you break down the numbers by individual properties using the first purchased property as a templated for the additional properties purchased however, you will notice that the numbers being used in the example are not scaling correctly.It took me some time to figure out why the numbers were not scaling and adding up correctly but I finally believe I at least partially figured out why the numbers didn’t add up.By the end of year 3 the 3 properties are owned for the following lengths of time and reflect the correct numbers associated with that length of ownership (loan balance, equity, property value, etc).Property A - owned 3 yearsProperty B - owned 1 yearProperty C - owned 0 years, it will be purchased at the start of year 4But by the end of year 4 the properties should reflect the following years of ownership with their respective numbers associated with the years of ownership (loan balance, equity, property value, etc).Property A - owned 4 yearsProperty B - owned 2 yearsProperty C - owned 1 yearHowever the summary total numbers that were provided in the book for all 3 properties at the end of year 4 did not add up correctly.
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23 July 2024 | 1 reply
I am looking to purchase a tax deed for under 40k and need a loan or 10k in funding.
22 July 2024 | 13 replies
@Christopher Phillips maybe i'm reading this wrong, or it works differently in NY, but a 6% seller concession normally means the seller is giving the buyer 6% of the purchase price to use however they want in the transaction - be that for closing costs or principal reduction or down payment, whatevs.A seller typically doesn't have a say of what can and can't be included in the borrowed amount, that's up to the lender and the loan program.
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22 July 2024 | 9 replies
Hi AJ, Yes, Non-QM loans can close in LLC for title purposes.
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23 July 2024 | 5 replies
@Carlos GarciaAlso to add - a hard money lender most likely will never inflate an appraisal if anything they will deflate it because it adds a significant amount of risk to them and their loan
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22 July 2024 | 8 replies
Long-term rental with substantial services provided.