Tracie Van
Tenant's BF is living in unit, not on lease
14 September 2021 | 10 replies
Much better than what I currently have.I’ve actually thought about putting a camera up in the parking lot to capture how often the car is there.I’ll start with the written letter first reminding the tenant of the lease.
Anthony Golden
Agents and Lending for first home.
8 September 2021 | 1 reply
It might also be who the pre-approval letter is from- if from a big box bank it says" "This deal won't close on time" to the seller.
Jason H Kantor
Direct Mail to Multifamily Property Owners
8 September 2021 | 3 replies
I'd like to do postcards and letters that would go directly to the owners themselves.
Yves Bourdeau
How to get out of mortgage insurance after the mortgage started
10 September 2021 | 14 replies
An insured mortgage carries default insurance as you're aware.
Austin Works
Budgeting RE Like A Business
22 September 2021 | 14 replies
Luxury Yacht (with decent expendable income) who owns a 3 year old SFH he rents out at market rate in a class B area to stable renters may make a different decision on what to do with monthly cash inflow than Just starting out on a shoestring and a prayer blue coller worker who owns a 70 year old class C that is overdue for a rehab.That is based on personal ability to meet costs when they come due and the probability that costs will come due.That being said, it's always intelligent to budget for CAPEX using real life numbers vs IRS or guesstimate numbers.You also need money for turns, which includes carrying costs when unoccupied and etc...As well as unexpected costs, such as roof damage, or early appliance failure--such as a refrigerator.Good Luck!
Lauren Thomas
Please critique this new construction deal....
8 September 2021 | 0 replies
Our intent is to be long term buy and hold investors Phase 1: Construction Construction time is ~12-13 monthsWe’ll fund construction with a commercial loan @ 4.99 fixed for 20-yrs w/ 25% down (~67K after closing costs / 3-4 draws during construction at interest only)Additional carrying costs include insurance, property tax, etc. (~$200 - $400 monthly)Current net cash flow from existing REI will cover construction time related carrying costs Phase 2: Post Construction / Tennant Occupied Rent the three units for $1200 each unit / $3600 total (our team feels we could yield ~$1300 – $1400 per unit present day.
Jeremy Russell
First Investment Baltimore City
10 September 2021 | 4 replies
Now I plan on taking the profits from this house and start building my real estate portfolio down here in FL to help build generational wealth and honor my father.Thats sounds like an incredible strategy and a great way to carry on your father's legacy of taking care of the next generation.
Dennis Maynard
Pay of debt or Buy a Cash Flow Property? Question of the Week.
4 October 2021 | 55 replies
Carrying and paying off debt are not simply mathematical actions.
Joshua Morgan
How do you require written notice from tenants?
8 September 2021 | 2 replies
Email, either a typed notice or attaching a scan of a letter to an email.There is no reason for docusign on notice to vacate.
Mel Hayes
Seller Finance deal exit strategies
10 September 2021 | 6 replies
Hello BP,I have deal on the table where the seller is willing to carry the note for the first year but then I need to find financing.