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29 May 2024 | 15 replies
I plan to do my first few flips locally but I'm always trying to look ahead and plan for my next move.
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30 May 2024 | 31 replies
And in many cases at least in my case my bank gets quarterly and annual financials from us and my Banker he would pick it up in our financial reports or our tax return and next thing I would know I am getting a call from him me when I plan to pay it off.
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25 May 2024 | 7 replies
Now the last tree I had removed was 5 years ago and the arborist took it to a friends house that has a mill where he was planning on milling the tree into oak flooring for a house he was building.My question is should I bother trying to get some value out of this tree one way or another?
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30 May 2024 | 10 replies
Be very specific about what needs to be done to avoid any surprises later.Following this process helps ensure that you don’t underestimate renovation costs and can plan your budget more accurately.
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29 May 2024 | 30 replies
Can the investor really hit the ground running with reno plans already in place as soon as the deals closed and investor takes control of the property?
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29 May 2024 | 4 replies
We plan to grow this side of our business more in 2024.
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29 May 2024 | 6 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).
29 May 2024 | 7 replies
The increased use of quitclaim deeds for bona fide real estate transactions is making title work more complex, and in turn, more expensive.
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29 May 2024 | 0 replies
What’s your recommendation for a dishwasher brand/model that’s likely to last but not super expensive?
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28 May 2024 | 5 replies
I'm in a position where I can using leverage over and over to buy more properties.There would be cash flow in my area because the properties are not expensive however they do not appreciate much and the cities around me are dying and not growing.What would be the risks of using leverage to buy an extensive portfolio?