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15 December 2024 | 30 replies
There are more factors than just pure cashflow and it seems like you are in a good position to be successful.
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6 December 2024 | 4 replies
When analyzing your offer, make sure to factor in operating expenses, rehab costs, and vacancy rates.
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6 December 2024 | 12 replies
The size of your rental operation is one of the factors in this determination.
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5 December 2024 | 1 reply
What are other factors and neighborhood I should consider?
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9 December 2024 | 16 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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4 December 2024 | 5 replies
I would factor more vacancy as you might get more turnover compared to other suburbs.
5 December 2024 | 11 replies
It is important to factor in all the benefits of house hacking into your calculations, i.e. amortization, appreciation, income, & potential rent avoidance.
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10 December 2024 | 16 replies
I think pools also factor in to summer rentals, if you don't have one that will hurt you.
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9 December 2024 | 15 replies
@Isadore Nelson Yes, eviction is possible, but there are too many factors that need to be taken into consideration, active military family members, disabled veterans, building violations, maintenance issues and etc...
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7 December 2024 | 4 replies
@Julian Martinez woo, that window wall definitely has a wow factor.