Hello All,We just got an REO under contract in a tough market which the asset manager was not willing to go below list, but after having it inspected it needs some costly repairs that we were not anticipating. 

CPAs and/or CPA software default to putting 365 in there no matter the reality, so you have to micromanage this.We spend a lot of time internally going over income calculations, and we do this for a living, so a full and complete answer is beyond the scope of one post.

Hello All, I was wondering if anyone knew how to get in touch with asset managers here in Central New Jersey to be able to go directly to them instead of the real estate agent.

Is this considered an asset or a liability based on the rich dad poor dad definition?

Now this is a smaller loan ($7MM) on a stabilized asset with a low LTV so the lender risk is very low. 

It was a cloud based accounting software company that I'd like to check out but I can't get the spelling close enough for Google to help me.  

If you can reposition the asset (repair, raise rent), you might get closer to that goal. 

@Cody Furman first of all let the residents know that there is a new sheriff in the town with a welcome letter and explain the everything you can in that letter and then deploy some cloud based software like Buildium to track your tenants and the rent and charge late fee and give them vacation notices on timely manner and evicted the bad ones and do not raise the rents until you are stabilized and do the screening to fill in vacancy otherwise you will be in big trouble if bring in bad ones.Charge application fee of at least $35 per couple and they will pay and use that for screening.

At least 50 percent of the assets of the business, valued at cost, must be invested in real estate which is managed or developed and with respect to which such entity has the right to substantially participate directly in the management or development activities.b.

I'm observing at least on average 8% CoC annual in primary & secondary Texas markets for B/C assets.