Tj Hock
Property Management/Maintenance
Hi everyone,
I'm trying to solve a question about Property Management. I understand that I need to either hire a broker or be a broker to manage finances within property management in the state of Pennsylvania. Howev...
Jonathan Maldonado
Florida Closing costs...Are they high for out of state investors?
Im looking to buy a home in Tampa FL and put an offer for a standard cookie cutter home in a non flood zone 2/1 SFR. I chose my lender months ago and feel like they are well versed in the game and close on almost 700 ...
Steve Johnson
Closing costs and how to factor them into the investment decison
Good Afternoon Investors,I am a new investor and am assembling the pieces in preparation for my first deal. My question is about closing costs and how to factor them into the project cost total. I understand that c...
Regan Coakley
Are these closing fees too high?
I am a first time investor and am purchasing an investment property in Baytown Texas for $200,000 (single fam). I was expecting the closing costs to be around 3% but they are closer to 7-8%. Is this reasonable? I a...
Everest Jordan
Closing cost sticker shock !! - $14k , this is real?
So I was given these numbers by my lender that set me up with my pre-approval letter:
Purchase Price - 350k
Down payment - 5% = $17.5k
Closing cost = $14k
Location of unit - Montgomery County, MD (zip 20874)
Is $...
Patrick Britton
Need to reduce closing costs (Chicago purchase)
I have bought a few rentals in the Chicago area and am put off by the considerable closing costs, especially from the title company. I'm looking at something right now and the down payment is $18,000 (20% down) and t...
Nghi Le
If you have just enough for down payment, you don't have enough
I see a lot of people asking, "How much down payment does a hard money lender require?" My quick answer is 10-25%, primarily dependent on the lender, but can also depend on experience, credit, etc. But I honestly thi...
David Shifirn
Chicago Security Deposit Account Question
I own 5 units. 1.Do I need to keep each individual security deposit in a separate checking account?2.3 of the units are in a 3 flat. Can I keep those together in one checking account?"Intermingling funds" makes this c...
Nathaniel C.
Rent proration question
Hypothetical: You purchase a house with a tenant in place and close in the middle of the month. There were no adjustments for prepaid rent at closing. Let's say the tenant's lease is for $1,000 per month, beginning Fe...
Rick Lucette
What are Buyer's Closing Costs and Prepaid Items
Hi All,A friend of mine recently signed an offer to purchase a home. The seller agreed to the following terms: Seller will contribute to $X towards the buyer's closing costs and/or prepaid items. I told him that this ...