2007-05-21 15:06:16 · 3 answers · asked by Nicolleta 2 in Business & Finance ➔ Renting & Real Estate
Reserve is sometimes a misunderstood word, and I think this may an example. In residential real estate reserve accounts are for paying property taxes and insurance premiums. However in the case of a homeowners association this may be different. Reserve accounts can (and should) be established to cover periodic repairs (painting, common grounds maintenance, roof replacement, parking lot maintenance etc.) as well as taxes, insurance, the deductible amounts etc.
So to answer your question we (the answerers ;->) would need a lot more info, how old is the complex, when was the last time it was roofed, painted, common area repairs etc. etc. etc.
That said, and without the additional information I’d guess that $316,000 (about $5,250 per unit) is maybe a little on the low side
2007-05-21 15:38:56 · answer #1 · answered by GaryODS 3 · 0⤊ 0⤋
Depends. How long will $316,000 last given operating expenses and cash flow. If you need someone to fund you some money for cashflow, I might be able to help.
My group of investors offer both secured and unsecured personal and business loans. We utilize both traditional banking firms and private funds.
Contact me if you want to connect.
skip724@gmail.com
2007-05-21 22:15:08 · answer #2 · answered by Peter P 2 · 0⤊ 0⤋
what is the insurance deductible for the worse case scenerio
over or under $316k?
2007-05-21 22:14:01 · answer #3 · answered by Anonymous · 0⤊ 0⤋