RealEstate Homeownership
- What are the steps to get pre approved for a home? How to get preapproved for a home loan?
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Choose a mortgage lender. To get the best rates and fees, it is important to shop around before you select a lender for your pre-approval… (we provide affiliated mortgage lenders)
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Gather personal and financial documents. (copy ID, SocialSecurity/or EIN, 3 Bank Statements, 3 PayStubs or Tax Returns (Proof of funds & residual income) needed for pre-approval.
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Check your credit report.
Average 640+ Credit Score
(Higher Score Better Interest Rates)
Complete 3 Steps Checklist above Your Ready to Get pre-approved through one of our affiliated lenders for Homeownership.
Credit Restoration
- Is credit repair legal?
Credit repair is legal. As a consumer, you have the right to have an accurate credit report. Filing disputes to remove negative claims is perfectly legal
- Who orders the credit reports?
Who are The Credit Repairment?
Several Credit Restoration Companies that helps people improve their credit score so they will create dispute letters to all 3 credit bureaus based on each individual needs of items that’s inaccurate & negatively impacting their score.
I’m not sure what’s on my credit report &
- How can credit restoration work for me?
If you want to improve your credit, monitoring your credit reports is imperative. This is the only way of knowing what negative listings are on your credit report.
Additional Consumer Options
You can access/create an account for monitoring or access FREE credit report
Experian
Equifax
https://www.equifax.com/personal/
Transunion
Business Start-Up
- What does an LLC actually do?
LLC stands for limited liability company; LLCs protect a business owner's personal assets if they're involved in a lawsuit. An LLC can be taxed as a sole proprietorship, an S corporation or a partnership. An LLC can have unlimited members, unlike an S-corp, which is limited to 100 shareholders.
- What are the 2 main advantages of having an LLC?
An LLC's simple and adaptable business structure is perfect for many small businesses. While both corporations and LLCs offer their owners limited personal liability, owners of an LLC can also take advantage of LLC tax benefits, management flexibility, and minimal recordkeeping and reporting requirements.
- What is the difference between an LLC and an S Corp?
The main difference between an LLC and an S-corp is that an LLC is a type of business entity and an S-corp is a type of tax structure created by the IRS.
- What is a Duns number used for?
A DUNS number is required from banks and lenders on business loan applications. The DUNS number is used to obtain the credit file of the applying company.
- What does FICO score mean in business?
A FICO® score is a particular brand of credit score. A credit score is a number that is used to predict how likely you are to pay back a loan on time. Credit scores are used by companies to make decisions such as whether to offer you a mortgage or a credit card.
- What FICO score is used for business loans?
Instead of a personal credit score, the SBA uses the FICO Small Business Scoring Service (SBSS) when evaluating 7(a) loan applicants. The system calculates the business owner’s credit bureau data, financials and other factors to produce a number between 0 and 300. The current minimum SBSS score is 155 for loans up to $350,000(not guaranteed). SBSS scores are not static and can adjust to current credit and market conditions.
- How to get started with a Group Home Small Business?
Opening a group home requires adhering to all licensing requirements and passing the inspection and application process.
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Determine the Type of Group Home...
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Meet the Requirements...
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Establish a Business Entity...
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Write a Business Plan…
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Write Policy & Procedures and Operations Manual…
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Complete the application process…
- How profitable is a group home?
The economics center on the supply and demand equation and the figures that a licensed, properly retrofitted group home can reap $7,000, or more, per bed in revenue.
- What is a Group Home? (Terminology accommodations varies per state)
A group home is a living accommodation option for people with disabilities. Living in a group home may be a good option for those individuals who do not need advanced medical care but cannot safely live alone. The care in a group home setting allows residents to receive extra support in a community setting without sacrificing their independence.
- What General Certifications Needed to Employ workers for a Group Home?
High School Diploma or GED • General Business License • First Aid and CPR Certifications • Home Care License (approved via state gov.center APD) • Food handler’s license, transportation insurance, & or employee nursing certification(CNA/LPN/NP)varies per state.
- Requirements to Open a Group Home in 2023?
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Note that anyone looking to start up a group home will need to stay current on local and federal regulatory requirements to ensure their facility remains compliant. If you intend to start a group home, it is imperative you extensively consider the needs of your community and how a group home would improve the quality of life of those who live or stay there.
- Do I need any Permits?
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Depending on the state where you intend to start your group home, you may only need a business permit or license. Other licenses and certifications required as an employee for a group home may include a home care license, CPR certification, food handler’s license, or nursing certification.
Anyone looking to start a group home is advised to carry out extensive research into the needs of the community they want to serve. It is also necessary they create a working relationship with the supervisory agencies in their state and local environment, such as the APD.
- Group Home Residential property Do I need a small or big room accommodation?
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The size of group homes varies, but generally they tend to be smaller than most long-term care facilities. They may offer shared spaces for residents, and bedrooms may be private or shared with a roommate. Generally 2 beds per room accuracy of 3+ rooms recommended for residential living facility.
- Do I need a license or certification approval in my state to operate a group home residential/commercial facility?
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In most places in the United States, group homes cannot do business without first obtaining a license from the Division of Health Services. To get a license, these homes may have to submit a certificate of need that notes the number of beds they will provide.
If at some point it needs more beds, they can also seek approval from the Division. Some states also mandate group homes to obtain construction approval by submitting two sets of construction plans and passing a construction inspection.
Once the facility is constructed, the home may have to submit an application and an application fee to the Division. The Division will then carry out a background check on the facility administrator before issuing a license.
- Hiring Staffing and Administrators?
An administrator is tasked with the general management, operation, and service offered in the group home. The administrator of a group home is expected to know the nature, needs, development, and management of programs for individuals in their facility.
The administrator must specify training requirements for direct contact personnel. They will also have to participate in an orientation in areas like signs and symptoms of disease and illness, communicable disease control, resident basic health and behavioral needs, residence routines, and emergency procedures.
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