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My LM is so keen on small small things, not related to coding but documentation and all. Atleast once in a week I'm committing mistakes on small documentation points n he is stressing on same. Are there any chances that my probation will not be extended or is it a clue for me from my LM. He is Looping his LM and asking questions/clarifications.
Should I ask him directly or can be ignored or need to try outside. Please suggest Barclays
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Additional Posts in The Real Estate Bowl
Can I get a commercial loan without 25% down?
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Mentor
I’m at 109% with mortgage, property tax, insurance and utilities that I cover. That doesn’t include any maintenance/repair expenses.
Subject Expert
Expenses are much higher than just the mortgage. Gotta account for maintenance reserves / vacancy reserves on top.
I clear around $400/month on my long term rental, and around $600-$800/ month on my mid term rental above those reserve numbers. But both were bought in 2021, you won’t see those numbers if you buy today
Subject Expert
5% to 10% for vacancy reserved, 10% to 20% for maintenance and cap ex… depends on the class of property and general market trends.
Negative cash flows
$200 but I bought in 2023 so numbers are low. It’s hard to cash flow last couple of years.
I have 10, 9 in 2023, I would not send an offer if it does not cashflow at least $100 at 80% of income. This takes care of management, capital expenses and vacancies.