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28 December 2024 | 7 replies
My goal is to build a data-driven tool that provides actionable insights into which neighborhoods and property types are in the highest demand, based on metrics like:Time on market: How quickly rentals are being leased.Property characteristics: Bedrooms, bathrooms, size, and amenities.Pricing trends: Rental rates relative to market demand and property features.Visual quality: Leveraging property photos to analyze the style and condition of rentals that perform well.The tool will allow users to:Pinpoint areas with the fastest rental turnovers.Understand what types of properties (size, price range, features) rent the quickest.Gain deeper insights into property presentation and amenities that correlate with high demand.Thank you in advance for your feedback.
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6 January 2025 | 7 replies
DSCR Loans - Both Purchase and Cash Out Loans- Investors typically use these on the cash out portion of the BRRRR Strategy - Minimum Downpayment, usually 20% but some lenders offer 15% down - Max LTV on Refinances, typically 75%, but some lenders will do 80% - Minimum Title seasoning (since the property was purchased and recorded on county records) is 90 days, although some lenders have no seasoning at all as long as you can show rehab work completed. - 30 year fixed terms - Usually have a Prepayment Penalty from 1-5 years, although you can price out a 0 PPP for a higher rate or fee- Minimum Credit score is 650 usually, although you could do a lower LTV loan at 620.
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15 January 2025 | 15 replies
The cons, if the borrower doesn't pay on time or completely welshes on it then there's that oportunity cost.
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5 January 2025 | 7 replies
It is an old house but has been completely gutted and rennovated in a Midwest state with a flatline population growth.
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6 January 2025 | 2 replies
The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.
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9 January 2025 | 20 replies
Most of the tax experts who specialize in real estate work completely virtually these days.That said, a local CPA probably does have an edge if your state has state income tax and especially if your city has a local tax on top of it.
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12 January 2025 | 7 replies
Second, in terms of asset protection, LLCs are not invincible, but I think what many don’t understand is that they are not designed to completely shield your assets from liabilities, on the contrary they are designed to contain and isolate liabilities.
11 January 2025 | 12 replies
That kind of errand is not the sort of thing they are paid to do and our liaison wasn't able to devote enough time to the problem on a daily basis to make it happen which I completely understood but it was still frustrating.
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6 January 2025 | 2 replies
After putting about $50k into the property, I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding.
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6 January 2025 | 3 replies
I would start with asking the fire marshall what is the minimum and get it in writing and ask him/her what is the timeline for completion.