26 April 2019 | 5 replies
In my area, I can find MLS rental leases on line or talk to a real estate agent and have them send you one.
4 June 2019 | 13 replies
I should have the benefit of getting accurate expense and income data for any real property to validate cap rate and other information.The bottom line on larger assets is NOI.
29 April 2019 | 40 replies
It includes all major assets & liabs, inc some pers prop that has value (or is individually insured) & I would consider selling to fund new found opportunities or if there was a major emergency requiring a change in budgeting/liquidity.My PBS is currently three pages long, broken into sections w/ sub totals to assist in analysis:AssetsReal Prop (Assessed, Purchase/Rent data, 2-3 free online providers like Redfin, then averaged.)Personal Property (Cars, Art, Hard Assets, things not in an account or "foggy" daily market value)Cash Accounts (ie funds w/ access not limited by age, Banks, Brokerages, CVLI, prepaid taxes,large pending incomes like insurance settlements & reimbursements owed to me.)MineSpouseCo-AccountsRetirement Accounts (or anything where access to the value is age restricted)MineSpouseBusiness 1 (Net number carried over from separate business records)Business 2 (List as needed)Liabilities (Would section these out too if I had enough to justify it)Listed in order of assets above if tied to such, mortgages, HELOC, etc.General liabilities listed next, largest to smallest.Net Worth CalculationThen I include several lines of totals; subtotal of amount available for conversion to REI, ratios & simple measures like mo / mo & trailing 12 mo avg % & $ return.My FI goal is over the long term to average at least 1% mo / mo gain in net worth.I have found this to be best for me for several reasons:I have a hard time visualizing a set $ amount as a goal because my amount required to retire would then seem too big to tackle.
26 April 2019 | 5 replies
Also if that someone does miss something that's discovered during an audit, they get fined and not me (obviously a pattern will result in a severed relationship, so I keep everything compliant to the best of my ability so that final QC/compliance package is a slow ball I'm pitching their way that they can knock out of the park).it only works if your like me a commercial ONLY mortgage bankers who is not doing all the CFPB stuff.. we just have to do a quartly mortgage call report on NMLS which is pretty basic I know this because even I can do it.. at least with the help of the help line.
26 April 2019 | 3 replies
Write up a lease renewal document to offer:-moving out at the end of the current lease-transition to a month to month agreement (keep current rent $725/mo)-new 1 year lease (keep current rent $725/mo)-new 6 month lease (would end in December so I'd prefer not).The current rent is in-line with market rents, possibly a little high so I don't feel the need to raise the rent after 6 months.
27 April 2019 | 8 replies
I dont pay a fee which takes away from my bottom line and neither does my tenant which should make it more attractive.
2 May 2019 | 9 replies
Something along the lines of "Do your own due diligence.
13 May 2019 | 7 replies
@Brandon Thomas I am in upstate SC as well but along the coast line.
26 April 2019 | 5 replies
Any options out there that will allow a line of credit or is cash out refinance my only option?
26 April 2019 | 0 replies
You fill out a form send in some pictures, they keep a fee and they buy your house.Meeting a defined goal is how you determine you are successful.Dean defines success as:Free time – when I am in complete control of my time and can do whatever I wantWhen passive revenue exceeds lifestyle needsWorking on projects that excite meNot knowing is scary, especially when it’s your money on the line.