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How to Buy a Multifamily Property in 10 Steps

The Close

In this “How to Buy a Multifamily Property” guide, I’ll walk you through deciding which type of multifamily property you want to purchase, picking the right lender, and running the numbers to ensure profitability. Purchasing a multifamily property is an excellent way for investors to generate steady income.

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How to Invest in Real Estate: A 7-Step Beginner’s Guide

The Close

Have a clear investment strategy and long-term goals before purchasing. Next, draft an operating agreement that outlines your company’s purpose, structure, and governance. Tax liens and auctions: Search for tax lien sales and foreclosure auctions. Stay updated on local and national real estate trends and regulations.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. An offer has been accepted, and the sale is expected to close.

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What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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What Is A Short Sale and Is It A Good Idea As A Buyer?

HomeLight

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale. How do short sales work?

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What is a 72-Hour Kick Out Clause And How Does It Work In a Home Sale?

HomeLight

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. These clauses are most often used when a buyer needs to sell their current home before purchasing a new one. A contingency is a condition that must be met for the purchase to proceed.

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The 6 Best Methods for Finding a Rent-to-Own Home

HomeLight

A rent-to-own home is an agreement that allows the renter to buy the home from the landlord after a specific lease period. This is essentially a security deposit that ensures your right to purchase the property at the end of the lease. The purchase price of the home is locked in upfront to save any negotiation at the end of the lease.