Rummy Dhanoa's (m1ll1ons) Blog

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Real Estate Broker/Owner - New York Real Estate Experts

ARCHIVED BLOG POSTS

2008 

  Location!Location!Location!Close to all amenities. The Dream home you always wanted on a tree Lined neighborhood. .60 acres of Level Back Yard With Huge potential!(Expand the house,Add a Pool,Add Basketball Court,& much more),Lakeland schools,Highway/MetroNorth for an Easy Commute.House offer ...
08/30/2008
Remarks:  Location! Location! Location! Own this well kept brick 2 family with an Extra 4 Finished room with/ 2 separate entrances! UNDER $500 a Month. The house features 2 identical units with 2 bedrooms, Living rooms, Eat-In-Kitchens, Kitchens, full baths and hardwood floors. Parking for 5 plu...
08/23/2008
When buy a real estate to pursue as a business, your making potentially financially-freeing decision. Owning a real estate is an excellent investment. It provides for a steady flow of income, but you should know several things before you buy. First buying a piece of real estate you're entering a ...
08/20/2008
Timing the market is impossible, so I never try to do it. Instead, I merely attempt to buy very good value, regardless of the prevailing conditions. Buying outstanding value is the most important factor in your future success as a real estate entrepreneur, no matter what advice is being offered b...
08/20/2008
When purchasing income property, your occupation and role in the management of your property will determine how much you can write off in rental losses each year on your tax return.  If you have recently purchased an income producing property and the property will have a negative rental income, b...
08/11/2008
  Commercial office tenants are taking a "wait-and-see" approach this year when signing new leases in Westchester. Landlords are succeeded in holding on to leasing rates set during recent boom years while offering tenants more generous concession packages in a stagnant market.  Leasing activity i...
08/11/2008
Add all rental of the property Total Rental x 85 % = this amount must be larger than mortgage payment Example :   Apt : 1 =  $ 1800 Apt: 2 = $ 1600 Apt: 3 = $ 1800 Total = $ 4470   $4470 x 85 % = $ 3900   The mortgage payment can't be larger than $ 3900
08/11/2008
The Debt Coverage Ratio is also known as Debt Service Coverage Ratio or DSCR.  The debt coverage ratio or DCR is a widely used benchmark which measures an income producing property's ability to cover the monthly mortgage payments.  The DCR is calculated by dividing the net operating income (NOI) ...
08/07/2008
HE BRONX - Local officials and residents gathered Wednesday to protest the proposed sale of a Mitchell-Lama building in the Bronx. Some local tenants are angry that the sale of their Bronx building is proceeding even though city housing officials rejected the deal just months ago. "A few months w...
08/06/2008
A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure auction or bankruptcy. Instead of buying from a seller, you are purchasing the property directly from the lender for a discount. For example: A homeowner, who is facing foreclosure, has an existing firs...
08/06/2008
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