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.
Borrowing For Rental Property In Allegheny
State:
Multi-State
County:
Allegheny
Control #:
US-00068
Format:
Word;
Rich Text
Instant download
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FAQ
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.
Typical requirements for a rental property mortgage: Credit score: A minimum score of 620, with better rates and terms for scores of 740 and higher.