MIT 3.04.3 Closing the PropertyCheat Sheet Asset Management As the asset manager, if you’ve outsourced property management, then you manage the property management company who manages the contractors and tenants. If you self-manage, then you manage the property, contractors, and the tenants to maximize performance. If you closed on a property with Limited Partners (LPs), …
MIT 3.04.2 Closing the PropertyCheat Sheet 1. Liquidate Funds Liquidate funds once you receive your mortgage commitment letter from the mortgage lender If using a conventional mortgage on a residential property (1-4 units), funds should be in your bank account for a minimum of two months before reaching out to a mortgage lender and before …
MIT 3.04.1 Closing the PropertyCheat Sheet 1. Before the Closing By now you should have the AOS executed, the Due Diligence completed, and the credits negotiated and in writing The mortgage commitment letter is shared with the deal finder The appraisal has been completed If the appraisal is lower than the purchase price, ask the …
