All Forum Posts by: Nad V.

I will have a better numbers over the weekend once the guy come and give me a number on the repairs. Maybe I was to conservative on the rehab. However, the value is correct. The 12k May increase a little. What does DOM mean?

Do you think this is a good deal? I will have to redo the kitchen and the bathroom. Rental property is high in this area and I know I can get 1850. 

If the is a good deal, I wonder if I should just purchase and flip it, or hold on to it and lease it for a while.

Sale price 135k 

• 20% down (27k)

• 4k estimate closing

• 6-8k renovations

Loan $108k

Value price  of home today is about 235k

Insurance $1500 yr

$580 P&I

$350 Escrow   (Tax $2700 yr, Ins $1500yr)

Mortgage $930 

Rental $1850

37k down payment, closing cost, repairs

I input my numbers in the calculator and it states, I should purchase the house for 127k.

I planned on putting 20% down and my loan would have been about 127k anyway. 

Should I factor in the down payment?

Hold on to it for a while and rent it out...

Offer 155k Worth about 180 20% down 4% interest 30 years Tax 3k Insurance 3k Rental 1700 Single Family Home is vacant About 6k in repairs What's the best way to determine if the numbers make sense? I know that's a vague question, but please responds as if you were making a decision 🤓

Are you able to open it up on your phone? I was not.

Could you send me the format you used for this? This looks awesome. Did you make a decision? I'm also working numbers.

What numbers do you put together to determine if an offer should be placed on a single family home investment?

Good afternoon, 

I have a few questions I would like your assistance with please :-)

Loan does not show on credit report.

Loan has a loan servicer that does not report to the credit agency

Question is.... 

Once it is disclosed will the servicer give the payment history or will they just give a letter that the mortgagee does have a loan?

Will the loan that is not on the credit report be reported on the credit report after the new house is purchased?

If yes, will the credit report show the history of late payment once the new house is purchased or will the report show the loan amount and that the balance was paid in full when the new loan is in effect?

Have anyone experienced a prospect whose loan doesn't appear on the credit report?

Thank you,

.. I called  the housing authority but received 2 different answers.  They advised if the landlord is responsible for refrigeration washer and dryer etc. Then the landlord will get te max of 1582.. 

I am having difficulty understanding the voucher worksheet.

Single family tenant responsible for water and utilities tenant pays 1469

Maximum subsidy 1582

Then it says this below. 

2. Adjusted income $230

3. Payment standard $1651 

(the amount generally needed to meet modernly priced dwelling based on the number of bedrooms) 

4. Estimate total tenant payment $69

5. Maximum subsidy $1582 

(line 3 -4) (maximum amount we may pay on behalf of the landlord)

6. Estimate 40% of adjusted monthly income $1651 

(the maximum amount of rent you are allowed to pay under the program estimate of 40% of the adjusted monthly income.

7. Maximum allowable gross rent including utilities $1674 

(line 5 +6) 

The house is listed for 1650 monthly.

I am aware the house will be assessed on it rental value

However, I see 4 sets of numbers.

$1469

$1582

$1651

$1674 

I think it's 1651

Section 8 pays $1582 and the tenant pays $92.

Is that right?