All about the $$$
% we pay out to NCT agents on in house transactions
What is no set %?
What is call the listing agent and negotiate?
FHA concession MAXIMUM
What is 6%?
Mortgage interest, property tax, operating expenses, repairs, advertising, maintenance, utilities and insurance for a rental property are examples of what allowable items on your taxes?
What is deductions?
the length of time it takes a smoke alarm to expire
what is 10 years?
Name of Jill's dogs
What is Oatmeal and Jojo?
VIP fees on a $300,000 purchase?
What is 12,000+943+500 HWA?
VA concession MAXIMUM
What is 4%?
Used to recover some or all of your improvements
What is depreciation?
MAX amount of time a smoke inspection and cert. can be done before a closing
What is 120 days?
Yani's side hustle
What is strawberry towers?
Method used to collect agency fee in additional to concessions
What is "seller to pay buyers agent X% of sales price" on a P&S?
USDA concession MAXIMUM
What is 6% of the loan amount?
NOT SALE PRICE
Otherwise know as IRS Form 1040
What is a Schedule E?
Types of alarms for homes built prior to 1976
What is battery operated?
Smoke alarms and CO alarms shall be installed outside sleeping areas and on each level (including basements)
Devices may be battery operated and are not required to be interconnected
Devices may be combination smoke and carbon monoxide units
Name of our new buyer transaction coordinator
Who is Amanda?
recommended compensation for lot/land, mobile homes, low value properties
What is a flat fee?
Conventional concession MAXIMUMS
What is 6% if down payment is over 10%, otherwise its 3%?
This expense is not an allowable deduction on rental properties
What are improvements?
Allowable CO detectors for multifamilies built before 2002
what is battery operated for a 2 unit, battery operated and interconnected for a 3 unit and hardwired for a 4 unit?
Fernanda's new job title
Calculate the cost for the buyer to bring to closing
$525,000 Purchase Price
$7500 in seller credit for lender
1.5% vns cobroke being offered
seller to pay 2% net to buyers agent on P&S
Retainer fee of $495 was paid
What is $3,835.50?
$21,943
+500 HWA
-495 retainer fee
-7762.50 1.5% VNS from cobroke
-10,350 2%VNS from seller
Conventional Investment concession MAXIMUM
What is 2%?
An administrative convenience that generally allows you to elect to deduct small-dollar expenditures for the acquisition or production of property that otherwise must be capitalized under the general rental income rules.
What is the de minimis safe harbor election?
Placement of smoke alarms (NOT COMBOS) for sleeping areas in homes built 2013- Present
What is inside all sleeping rooms (including basement)?
Smoke/CO combos are required to be installed outside sleeping areas in addition to the smoke alarms inside the bedrooms
Task John Kenyon has sent out to all agents that is due TODAY
What is change your email signature?