Niles Crum
Getting Rent One Year In Advance
I just rented a home to a tenant who did not quite meet my income requirements. I expressed my concern to her and she said she had $20,000 in savings and could get me a letter from the state where she gets just under...
Petra M.
Pro Forma calculations. %-ages off Gross Rent or Operating Income
Do you use Gross Rent or Operating Income (Gross Rent - Vacancy Losses) to calculate your expenses?For example:$1000 monthly rent.8% vacancy$920 gross rent.Property Management 10%$100 or $92?
Sean Tippens
Loan request for rehab.....then referred for a commercial loan???
We are really new to the process of getting loans for our projects. We have used our personal savings up to this point, but need a loan to finish a rehab on our latest property. We initially tried our local credit uni...
Candice Ravin Woodfin
Tips for shared spaces
**Spend money on a good mattress**Private bath.A full size bed isn't really that bad. If there is shared space put a recliner/love seat in bedroom. Dorm size refrigerator & microwave. Those simple things could mak...
Jamie Rost
Question on a typical loan structure
I have spoken with a few different banks, credit unions and private lenders and it seems like there is not a typical type structure. I am a new investor and trying to determine how much I need to realistically save to...
Andre Medeiros
Direct Mailing Campaign Wording
I have been sending out white letter mailers to multi families in my area. A friend reviewed my letter and opined to me that referring to my self as "real estate investor", in my own letter would spook potential clien...
Andy Pate
BP's Previous Landlord Reference Form Time Consuming?
I am reading The Book on Managing Rental Properties, and I have come across the part where it talks about getting references from previous landlords. The book leads you to a form that BP calls the Previous Landlord Re...
Melody Bynum
Cap Rate vs. CoC
New investor here trying to orchestrate my very first deal and need to do a renters analysis. What is the difference between Cash on Cash rate & Cap Rate? All advice much appreciated, thank you in advance
Jordan Rocca
Long Term Financing for Multi-Family units in Minneapolis Area
Hi all,
I'm wondering if anyone knows of any lenders that do longer amortization (20-25 year) loans for multi family properties. LTV would be 75%, purchase price in the $1MM - $3MM range and assume strong cash flows....
Khalipa Oldjohn
What does property sales instrument code OR and CD mean w/r/t a vacant lot purchase?
Hi, so I won a tax deed at an auction for a vacant lot but I am trying to determine if there are a bunch of leins on it. The last few sales codes say CD, QC, OR, OR. I know QC means Quit Claim but what does OR mean? A...