US Legal Forms
Commercial
Minutes regarding Borrowing Funds

Borrowing For Rental Property In Contra Costa

Category:

Corporations - Minutes and Resolutions - Banking

State:

Multi-State

County:

Contra Costa

Control #:

US-00068

Format:

Instant download

Description

These consent minutes describe certain special actions taken by the Board of Directors of a corporation in lieu of a special meeting. It is resolved that the president of the corporation may borrow from a bank any sum or sums of money he/she may deem proper. The minutes also state that the bank will be furnished with a certified copy of the resolutions and will be authorized to deal with the officers named within the document.

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FAQ

Yes, setting up a business bank account for your rental property is a good idea. It helps keep personal and rental finances separate and simplifies accounting of your property investments.

The 50% rule or 50 rule in real estate says that half of the gross income generated by a rental property should be allocated to operating expenses when determining profitability. The rule is designed to help investors avoid the mistake of underestimating expenses and overestimating profits.

Ing to AB-1482, the Tenant Protection Act of 2019, landlords in California are only permitted to increase rent by 5% plus 10% or the annual inflation rate, whichever is lower.

Is there a good debt service coverage ratio in real estate? While there's no industry standard of a good debt service coverage ratio in real estate, many lenders and conservative real estate investors will look for a DSCR of at least 1.25.

County Eviction Protection and Rent Freeze Ordinance 2021-20 that continued a temporary eviction moratorium for certain residential tenants and a moratorium on certain residential rent increases through September 30, 2021. The ordinance has not been extended beyond September 30, 2021.

Annual rent increases are capped at the lesser of 3% or 60% of CPI.

Serve the tenant with the appropriate written notice (there are several types of notices, and the one a landlord serves the tenant with must be appropriate to the specific case circumstances) Wait for the time period in the notice to end. File an Unlawful Detainer action if the tenant does not do what the notice asks.

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FCTD is one of Contra Costa County's top hard money lending choices, providing short-term bridge loans, construction, and investment financing. Choose the Contra Costa hard money lenders at californiahardmoneydirect.Net to give you the capital you need to seal that deal or flip that piece of property. The following is a list of some documents that may be recorded if they meet all requirements, and a description or definition of each document. The MCC Program is a homebuyer assistance program. The MCC provides qualified first time homebuyers with a federal income tax credit. The purpose of the Program is (1) to increase the supply of rental housing in the County; and. The Housing Authority not only provides rental assistance, but training on the upkeep of the property. North Coast Financial offers various types of hard money loans (private money loans) including investment property loans, probate and estate loans. The Housing Authority's goal is to provide excellent service to the families and landlords participating in the Housing Choice Voucher Program.

Borrowing For Rental Property In Contra Costa

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FAQ

What type of account is best for a rental property?

What is the 50% rule in rental property?

How much can a landlord raise rent in Contra Costa County?

What is a good DSCR for rental property?

Is there a rent ordinance in Contra Costa County?

How much can I raise rent in Concord, CA?

How do I evict a tenant in Contra Costa County?

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