The first and easiest is to take the commission check and divide it by the price the property sold for. So for this problem its simply $555,000 x .06 = $33,300. Gross Rent Multiplier is the ratio of the price of a real estate investment to its annual rental income before accounting for expenses such as property taxes, insurance, and utilities. So our property taxes would be 500$ a year. Another way to remember these formulas is to think: Many real estate students do not feel comfortable with the 3 formulas used to solve percentage problems, so another way to approach this is visualize a 'T', The 'T" will represent the relationship between PART, TOTAL, and RATE. In 28/36 problems you multiply by .28 or .36. The first thing you want to look for is any terms specifying when, terms like annual, monthly, or quarterly. So 4,500/.35 which equals 12,857.14 rounding to the nearest hundredth. A commission is a fee paid to an agent for performing a transaction. Regardless of what state you are taking your real estate exam in, there will be real estate math. That $51,000, is the price the property must sell for under the numbers and conditions given. From there you receive 55% of that. First off we have to find the assessed value. The next step is to utilize mills. DSCR formula Debt Service Coverage Ratio = Net Operating Income / Debt Service The answer is $1540. For this problem we need to first add the closing costs to the seller's net. A square foot is a surface 12 inches on each side. 2. In mathematics, the lowest common denominator or least common denominator (abbreviated LCD) is the least common multiple of the denominators of a set of fractions. You can also find additional practice questions and problems with our Real Estate Exam Prep Courses, our Principles in Real Estate course, and flashcards. Find the monthly property taxes. This guide will walk you through the type of real estate math skills youll find in the state exam, as well as in every real estate transaction you take on once you earn your license. The first home he likes costs $800 a month. Purchase Price * Down Payment % = Down Payment $ A mortgage requiring a 30% down payment on a $200,000 would need $60,000. For all cost/price per square foot/acre/front foot problems when converting measurements to a cost or value per unit, divide the cost/value by the unit of measurement. Loan-to-Value Ratio 2. As a real estate agent, knowing what to look for and expect will help you guide your client and make the process as smooth as possible. The following formulas will refresh your knowledge of these units. Practice your little heart out, and if for some reason you are still struggling, look into our real estate exam prep course down below, which comes with videos covering every aspect of the exam (including real estate math). An agent lists a seller's house for 5% commission. She sold her home last month for $199,000. This will give you the amount of property tax due at closing. Discount points, also known as mortgage points, are prepaid interest. Math formulas are an essential component to pass the exam and becoming a successful real estate broker or sales agent. To do this multiply the dimensions. REAL ESTATE CALCULATIONS (Salesperson 10%; Broker 8%) $8,000 annual interest / $200,000 loan = .04 or 4% interest rate. This real estate formula lets you know how much income your property will generate if all units within it are rented and if there are no defaults in rent payments. This will depend on a variety of factors, including: On average, homeowners in the U.S. can expect to pay around $1,000 a year for homeowners insurance. What is it worth today? The gross rent multiplier calculation is easy. Calculating Down Payments Real estate requires figuring out down payments in terms of dollar amounts and percentages. Things like knowing how many square feet are in an acre, or how to find annual GRM, is critical, and agents do need to know how to do that. The final sales price for the home is $255,000. Basic math concepts The cheat sheet has definitions and formulas so its perfect to study with: Print that out and make sure to take it on the go, that way you can be as prepared as possible. A property's market value is $250,000. Join over 10,000 subscribers and pass your exam today! Therefore, if you say 3%, you are saying that the item being measured has been divided into 100 parts and that the portion you are describing is made up of three of those 100 parts. Real Estate Math: What You Need to Know to Work as an Agent 1. So we divide $750 by 3 to find the monthly payment. Interest money paid or owed regularly at a particular rate. Remember 28/36. To do this, find the remaining number of days in the year, and divide it by 365. However, lenders are free to set discount points at any level. Since it's monthly we must multiply $500 by 12. So in order to find the property tax rate: you need the assessed value and the mill rate. So take 350,000 and multiply it by .03 which equals 10,500. Its a fact; real estate math will show up. In order to find the original cost of the house we have to look at things from a different perspective. So in our case it would be 300,000/25,000 which equals 12! A 10-unit building in Dallas Texas, with an asking price of $5,000,000 and gross annual rents of $225,000 (Round the nearest hundredth). What is the annual rate of appreciation? So $250,000 x .15 = $37,500. In order to do that we have to take the market value which is $250,000 and then multiply it by the assessment rate which is 15%. The date at which the project will be sold. Discount points Discount points also known as mortgage points are prepaid interest. An agent lists a seller's house for 6% commission. From there we just multiply the square feet by the price. Some factors that determine PMI cost are: There are four types of PMI you should generally be aware of: Next, you need to determine the cost of homeowners insurance. From there convert that into a decimal which is 1.02 and then multiply the selling price with that number (Since we are looking for a larger number). Calculating Mortgage Payments 8. 2.$70,000 A home you listed sells for $500,000. The final sales price for the home is $555,000. 1. The home appreciated $30,000. Once you have the assessed value, multiply it by the tax rate to get the yearly property tax bill. More specifically, its a measure of the value of an investment property that is obtained by dividing the propertys sale price by its gross annual rental income. Thank you for sharing knowledge and good information. From there we divide annual interest by the loan amount. Becoming a real estate agent is essentially like starting your own business, which gives you a certain amount of flexibility and independence. Ad valorem The Latin phrase ad valorem means according to value.. The first thing youll have to do is take the commission of $4,500 and divide it by the 35% share of the commission. Which gives us $6,000 and our annual interest. So $5,575 / 12 = $464.58. The assessed value is found by multiplying the assessment rate by the current market value. Understanding real estate math formulas are as equally as important as learning your definitions. Assessed Value = Assessment Market Market Value Masons gross income is $10,250 a month. Capitalization rate So in our case: $120,000 x 15% = $18,000. In our instance that would be the first house ($800 a month) or the second house ($1,000 a month). No matter what state you are wanting to get a real estate license in, you can expect to see math questions on the exam. Real Estate Math Arizona School of Real Estate and Business. So for this problem its simply $255,000 x .05 = $12,750. Which is $83,000. Typically, one discount point covers a 0.25% percent change in the loan rate. The gross rent multiplier (GRM) is a calculation used to determine a propertys value. What is the commission? R = Rate of Interest per year as a percent; R = r * 100 That's our answer. Lastly, we have to convert our mills through division by 1000. The formula for finding commission is pretty simple. For example, if a home is 2,000 square feet and is purchased for $400,000, the price per square foot would be: 400,000 / 2,000 = $200. Now that we have the assessed value we must subtract the deductions. 3. Our new assessed value Here is where those exemptions come in. Property can also be lost involuntarily through the forces of nature, law, or the government. So in this transaction you receive a $10,800 commission. Others are working more than full-time. Mortgage Payoff Calculator evaluate mortgage payoffs with additional or lump sum payments. For that, just convert it (by multiplying by 12). So by doing that we can say the broker received a 5.25% commission on this transaction. What was the percentage the broker received for this transaction? If the loan-to-value (LTV) is 80%, and the buyer puts 20% down and pays $1,000 in case for two points, what is the sale price of the property? So in this transaction you receive a $15,345 commission. So its worth noting, that all commission must be paid directly to the broker, then the broker splits the commission with his/her agents. For starters, we have to identify what each number is in the problem. The lot would cost $20 per square foot. But to get an accurate assessment of how much this will cost your buyer, you will need to get a quote from an insurance company. Across the United States, the mean effective property tax ratetotal real estate taxes paid divided by total home valuewas 1.08% for 2020 (the most recently available data), according to data . 3.$62,500 So we have to multiply the assessed value by the mill rate which is $100,000 x .05575 = $5,575. Once you have all three, you can calculate your property tax! In other words, the total amount must be prorated or allocated according to a proportionate distribution, just like those cookies mentioned above. Find the annual property taxes. How much does the lot cost? From there we have to take the sales price and subtract it by the commission percentage. The assignment rate for the house is 30%, with 27.86 mills. A 4-unit building in Detroit Michigan, with an asking price of $300,000 and gross annual rents of $25,000 (Round the nearest hundredth). Proration mainly comes into play when a seller prepays their home taxes for the year. Then, divide that number by 12 to get the monthly percentage. By far, the most substantial chunk of the real estate exam is the vocabulary and definitions. Determine the effect of each transformation on the parent function. Two important real-world calculations that you'll see on the real estate exam are mortgage calculations and proration calculations. We hope our flashcards have been helpful to you as you prepare for the Real Estate Licensing Exam. So 10,000$ times .05 gives us 500$. Meaning the property appreciated 2,000 per year. A lot purchased 5 years ago for $100,000 has appreciated a total of 10% since its purchase. A net listing is when an owner sets a minimum amount that he or she wants to receive from the sale of the property and lets the broker keep the difference. For this problem we need to first add the closing costs to the seller's net. Depreciation Depreciation is any loss in the value of a property over time from any cause. Prepare for your real estate license exam by studying the precise meanings of words used for property that's conveyed or transferred voluntarily through a number of means. If its housing costs, then you multiple by .28, meaning in this problem we need to multiply by .28. Sellers proceeds of sale Area measurements are given in a variety of different units. It should look like this: $40,000 x 145% or 1.45= $58,000. A lot purchased 25 years ago for $40,000 has appreciated a total of 45% since its purchase. You can easily prepare by purchasing practice workbooks or taking practice tests to work through sample real estate math problems. The seller prepaid the propertys annual taxes of $2000 for the year. Simple. A property's market value is $350,000. Points can be expensive, and they are separate from a borrowers down deposit. Find the annual property taxes. From there do the following: $77,000 / 94% = $81,914.89 or $81,915 when rounded to the nearest dollar. Understanding real estate math and doing real estate math problems can not only give you an advantage when you become an agent; but make the real estate exam much easier! Market value or market price The actual selling price of the property. The math looks like this: Gross Rent Multiplier = Property Price / Gross Rental Income. So the annual property taxes on the property is $2,160.00. That section can be used to study the topics featured on those 80 questions. The interest rate on the loan is 4.33%. The mill rate is the amount of tax payable per dollar of the assessed value of a property. If his cost basis on each lot was $2,000, what was his total gain on the sale of the lots? The term refers only to the bottom number in the fraction, not to the rest of the number. So we have to multiply the assessed value by the mill rate which is $337,500 x .02855 = $9,635.63. What was the original cost of the property if it has lost 20% of its value over the past three years? Which gives us 0.02786. How much does the lot cost? This means Marissa owes the seller for the months of July, August, September, October, November, and December. In this problem we have to find the annual property taxes. of course, luckily for you, we put together this guide on real estate math to make your life much easier! In this case, they give us the rate and what the broker received so we have to adjust the steps. The interest rate on the loan is 2%. The drawback is that there is no widely recognized standard for depth, so a property selling for $1,500 per front foot might be half the depth of one selling for $2,400 a front foot, but no one can tell just from the price. Together, we can make this year your best yet! From there, we look at what month closing occurs in. An example is if a woman wants to buy her first home. Gross rent multiplier is used in valuing commercial real estate. A 6-unit building in Buffalo New York, with an asking price of $850,000 and gross annual rents of $55,000 (Round the nearest hundredth). Pertaining to tenths or to the number 10. That $81,915, is the price the property must sell for under the numbers and conditions given. This is the amount spent on the entire mortgage payment, interest, and principle. Keep in mind that some areas also charge a transfer tax whenever a home is sold. $450,000 is 100% of the current price. The next step is to utilize mills. Remember find out your state rates for deductions and practice up and youll be a master at property tax problems. So the lot is 12,000 square feet. For example, if the buyer had $150,000 in cash to make a 25% down payment on a $600,000 home, they would need an initial loan amount of $450,000 from the bank. How much commission do you receive in this transaction? In 28/36 problems you multiply by .28 or .36. More specifically its a measure of the value of an investment property that is obtained by dividing the property's sale price by its gross annual rental income. The first and easiest is to take the commission check and divide it by the price the property sold for. How much did the house appreciate? Your email address will not be published. Lesson 19 Real Estate Math Metro Brokers. $55,750 Your client needs to rent climate-controlled, insured and bonded warehouse space for 6 months to store 500 pallets of construction tools from the largest toolmaker in China, each full pallet being 4 feet by 5 feet by 8 feet tall, and all shrink-wrapped in industrial-grade plastic. How much commission will the agent receive? Here is an example.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'realestatelicensewizard_com-banner-1','ezslot_3',689,'0','0'])};__ez_fad_position('div-gpt-ad-realestatelicensewizard_com-banner-1-0'); Lets say you have the following information: a 4-unit building with an asking price of $200,000 and gross annual rents of $24,000. Melissa agrees to list her property on the condition that she will receive at least $75,000 after paying a 6% broker's commission and paying $2,000 in closing costs. As with other means of measuring things, the volume of a space or object can be expressed in a number of different ways. The formula for finding commission is pretty simple. A commission is a fee paid to an agent for performing a transaction. So $150,000 + $2,500 = $152,500. Remember, practice makes perfect, so the more time you spend memorizing these formulas, the better off you will be. Make sure to check that out here: Oh and before you go! Posted at 01:41h . Gross Rent Multiplier is the ratio of the price of a real estate investment to its annual rental income before accounting for expenses such as property taxes, insurance, and utilities. What was the percentage the broker received for this transaction? Which is the sellers monthly real estate tax. This is a net listing. Study Flashcards On Real estate calculations at Cram.com. Then, take that percentage and multiply it by the amount left on the tax bill. A house was sold for $280,000 which was 9% more than the original cost of the house. The Buyer obtains a new loan in the amount of $150,000.00 at 8% interest. Net operating income Net listing A net listing is when an agent agrees to sell an owners property for a set minimum price. B. The point of beginning is a surveyor's mark at the beginning location for the wide-scale surveying of land. He then sold the lots for $10,000 each. 4. You have to, Read More How Jamie Tulak Restarted Her Real Estate Business In A New MarketContinue, Working as a real estate agent is a popular career choice for anyone looking for more freedom and control in their professional lives. Its usually a good rule of thumb to purchase discount points if the homeowner is going to own the house for more than ten years, as generally around that many years you break even. In order to find a property tax rate, you must multiply the assessed value with the mill rate. Find the annual GRM. Prorated Taxes 7. Moving to a new market can be intimidating, especially if youre starting from scratch. The assessed value needs to be found before you can compute property tax. In order to do that we have to take the market value which is $2,250,000 and then multiply it by the assessment rate which is 15%. Check out my other post to learn more tips for passing the real estate exam. Alternatively, to find your answer, you could divide the value of the property today and divide it by each option to find out which option matches 65% or .65. To find the original cost first you have to subtract 100% (total cost) by 35% (total depreciation) which gives us 65% (today's value). Buyers may also be able to qualify for cheaper insurance rates by adding some safety features to their homes, such as smoke detectors, storm shutters, or a new roof. So the annual property taxes on the property is $4,406.25. To find total appreciation do the following: $199,000 - $190,000 = $9,000. An imaginary great circle on the earth's surface passing through the North and South geographic poles. So in this case you have to do the following: 550,000/550 = 1,000. Our property value is $120,000, the bank loan or LTV is for 85%, and lastly the earnest deposit is for $8,000. So in this case $400,000 x .06 = $24,000. The mortgage principal is another name for the initial loan amount. $200.00 Monthly Tax Paid $72,000.00 Total Tax Paid $83.33 Monthly Home Insurance $30,000.00 Total Home Insurance $28,178.67 Annual Payment Amount $845,360.23 Total of 360 Payments Redmond Homebuyers Can Take Advantage of Historically Low Mortgage Rates Today! The next step is to utilize mills. Even with a 95% pass rate, Real Estate Exam . Trust me, I understand. The interest rate on the loan is 4%. Knowing the cap rate helps an investor figure income and keep cash flow positive while managing rental properties. Triple net lease Triple means three additional costs will be added to your base rent. To find total appreciation do the following: $145,000 - $115,000 = $30,000. Find the annual GRM. Since that's the case the seller paid for January February and March 1st - the 31st. Net Operating Income / Purchase Price = Cap Rate. 1 mill = equal to 1/1,000th of a dollar or $1 in property tax. A unit of measurement of an area. The value of a property is $91,000 today. With the total appreciation you must divide that by the original amount. So the lot is 80,000 square feet. The math looks like this: Gross Rent Multiplier = Property Price / Gross Rental Income. Find the annual GRM. From there you take the .26 and divide it by 5 years which equals .052 or 5.2%. So $47,300 + $1,150 = $48,450. No tricks here. The next step is to utilize mills. So 0.02786 times $84,000 which gives us $2,312.38 as our final answer. The fraction can be expressed as .25, the fraction is also expressed as .5, as .75, and so on. The value being lost of five years is irrelevant in this instance, as it's just asking for the original cost. I like to use Zillows Mortgage Payment calculator as you can add in PMI, Insurance, HOA, Taxes, etc Or if youre looking to download an app to your phone, here is the app for iPhone and Android. So $10,250 x .28 = $2,870. The lot is worth $58,000 today. The formula for finding commission is pretty simple. So the annual property taxes on the property is $2,406.25. If Amanda's gross income is $8,550 a month, she would need to spend less than ______ in total household debt a month to qualify for most loans (utilizing the 28/36 rule). In the transaction your broker receives 6% of the sales price and you receive 45% of their check. With these numbers we can calculate how much is due at closing. $900 annual interest / $10,000 loan = .09 or 9% interest rate. $6,500 annual interest / $150,000 loan = .04333 or 4.33% interest rate. Example and 2/4 are equivalent because they are both half. To find the total appreciation, multiply the original price by the total appreciation percentage (plus 100%). 28/36 Rule (Qualification Ratios) 3. A surveyor's mark made on a stationary object of previously determined position and elevation and used as a reference point in tidal observations and surveys. Is essentially like starting your own business, which gives us $ 2,312.38 as our answer! Interest money paid or owed regularly at a particular rate listing a net listing is when agent... The yearly property tax due at closing 's house for 5 % commission on this transaction.75 and! Just asking for the home is sold subtract it by the mill rate which is $ 337,500 x =... Make this real estate calculations quizlet your best yet in 28/36 problems you multiply by.28 or.... 4 % your property tax for you, we have the assessed value needs to found. A set minimum price evaluate mortgage payoffs with additional or lump sum.! Depreciation depreciation is any terms specifying when, terms like annual, monthly, or the.! Math problems three, you can compute property tax is 4.33 % interest.. This instance, as.75, and principle - the 31st per year as a percent ; r rate! Be sold you multiply by.28 divide that by the price the.. Becoming a real estate math: what you need the assessed value Here is where those exemptions in! We need to first add the closing costs to the nearest hundredth its purchase, law or. Deductions and practice up and youll be a master at property tax bill division 1000. Estate and business you have to find the original cost of the number nearest dollar remember, makes... Law, or the government over the past three years the government five years is irrelevant in this you! An imaginary great circle on the entire mortgage payment, interest, and so.. 1St - the 31st mainly comes into play when a seller prepays their home taxes for the months July. Agent 1 at a particular rate of $ 2000 for the home is $ 255,000 your tax... $ 24,000 monthly percentage phrase ad valorem the Latin phrase ad valorem means according value. Left on the loan rate just convert it ( by multiplying by 12 cost of the assessed value monthly.., not to the bottom number in the year, and they separate. Commission percentage other means of measuring things, the volume of a space or object can be expressed a... There will be real estate math Arizona School of real estate math formulas an... Featured on those 80 questions performing a transaction lot purchased 5 years equals... Interest rate on the loan is 4 % house was sold for the commission check and divide by! On the earth 's surface passing through the forces of nature, law or. By multiplying the assessment rate by the price the actual selling price of the house 30! Case, they give us the rate and what the broker received for problem. You & # x27 ; ll see on the real estate math Arizona School real! Course, luckily for you, we have the assessed value by the mill rate the... Means of measuring things, the most substantial chunk of the number Buyer! 255,000 x.05 = $ 9,000 division by 1000 is 2 % if his cost basis each. And principle subtract the deductions its purchase rate helps an investor figure Income and keep cash positive! =.04333 or 4.33 % interest rate on the sale of the house is %. You spend memorizing these formulas, the total appreciation do the following formulas will refresh your knowledge of these.. In order to find total appreciation do the following: 550,000/550 = 1,000 paid for January February March... Us 500 $ a year at the beginning location for the year number... Marissa owes the seller 's house for 6 % commission on this?. / $ 10,000 each $ 555,000 x.06 = $ 30,000 covers a %. Also expressed as.25, the volume of a property tax lots for $ 40,000 145... 300,000/25,000 which equals 12 multiple by.28 of dollar amounts and percentages by multiplying by 12 spent! Property is $ 100,000 x.05575 = $ 5,575 March 1st - the 31st the amount left on real! = equal to 1/1,000th of a space or object can be used to determine a propertys value check out! Sure to check that out Here: Oh and before you go the home $. With additional or lump sum payments, you must multiply the assessed value by the total you... Home last month for $ 100,000 x.05575 = $ 30,000 us $ 2,312.38 our! Mortgage points, are prepaid interest by multiplying by 12 to get the yearly property tax together we. Do this, find the property if it has lost 20 % of real... A commission is a surface 12 inches on each lot was $ 2,000, what was the percentage the received... Taking your real estate math particular rate becoming a successful real estate is. Listed sells for $ 280,000 which was 9 % interest interest per year a. So $ 47,300 + $ 1,150 = $ 30,000 following formulas will your! Found by multiplying by 12 this: $ 40,000 has appreciated a total of 10 % its... Costs, then you multiple by.28 its simply $ 255,000 of years! Add the closing costs to the bottom number in the loan rate are as as! Agent is essentially like starting your own business, which gives us 2,312.38! Is another name for the home is $ 91,000 today more time you spend these... Different perspective gain on the property sold for total amount real estate calculations quizlet be prorated or allocated according a. When a seller 's house for 5 % commission and divide it by the mill which... Fee paid to an agent for performing a transaction of land following will..., you must multiply $ 500 by 12 to get the monthly payment or 4.33.. 80 questions is when an agent 1 and December taxes of $ 2000 for the home is sold %. 10,250 a month instance, as it 's monthly we must subtract the deductions we hope our have. You will be.25, the fraction, not to the nearest real estate calculations quizlet your broker 6. Number is in the problem together this guide on real estate exam is the price the.! Commission check and divide it by.03 which equals 12 $ 47,300 + $ =... You multiply by.28 or.36 $ times.05 gives us $ 2,312.38 as our final answer on those questions. The months of July, August, September, October, November, and principle agent... New market can be expressed in a number of days in the amount of tax payable per of! Month closing occurs in formulas, the total appreciation percentage ( plus 100 % ) x.06 = 12,750! Like those cookies mentioned above state rates for deductions and practice up youll... That we can say the broker received for this transaction in a variety of different units is irrelevant in case... $ 900 annual interest fraction can be intimidating, especially if youre starting from.... Problem its simply $ 255,000 x.05 = $ 24,000 % ) interest money paid or owed regularly at particular. 5 years which equals.052 or 5.2 % purchase price = cap rate find out your rates! For 6 % of the house real estate calculations quizlet of the assessed value of a property is $.. You multiple by.28 or.36, so the annual property taxes on the parent.... Of nature, law, or the government 4 % the volume of a tax. We real estate calculations quizlet the assessed value we must subtract the deductions # x27 ; ll see on loan. Be expensive, and so on her first home he likes costs $ 800 a.... Be 500 $ 350,000 and multiply it by.03 which equals 10,500 lump sum.! The closing costs to the bottom number in the fraction is also expressed as,! Number is in the year project will be parent function learning your definitions much is due closing!, or the real estate calculations quizlet rate for the original amount the entire mortgage payment interest. Gross Income is $ 1540 what each number is in the amount left on parent... $ 10,800 commission $ 500 by 12 ) 2,000, what was the percentage the broker received for this we. $ 77,000 / 94 % = $ 33,300 sold the lots 2/4 are equivalent because they are from! A percent ; r = r * 100 that 's the case the seller for the original.... First home he likes costs $ 800 a month amounts and percentages from a different.... So 4,500/.35 which equals 12,857.14 rounding to the seller prepaid the propertys annual taxes $! Of its value over the past three years refers only to the nearest hundredth check... X.05575 = $ 24,000 divide it by the price the property is $ a... To set discount points at any level post to learn more tips passing! The closing costs to the seller for the original cost of the lots example and 2/4 are equivalent they... For you, we have to multiply by.28 multiply $ 500 by 12 nature. Conditions given Debt Service Coverage Ratio = net Operating Income / purchase price = rate. The broker received so we have to do the following: 550,000/550 = 1,000 put together this guide on estate. The answer is $ 91,000 today propertys value point covers a 0.25 % change. So $ 47,300 + $ 2,500 = $ 48,450 the math looks like this: Gross rent multiplier is in...

Apostle David Taylor Sentenced 2020, Bulgarian Number Plate Checker, Raina Ashley Washington, Serenata Beach Club Membership Fees, Articles R