John Hickey
Long term BRRR in Bed Stuy Brooklyn, NYC John Hickey
28 January 2025 | 71 replies
New payment is 4150 including taxes and insurance 80 waterHot water bill is 125Rents 8350Very happy with my first BRRRR
Polat Caglayan
C class or not how can ı understand
11 January 2025 | 2 replies
@Polat CaglayanI've never seen a formula but here is a general rule of thumb for multifamily:The class of an apartment refers to the quality of the building, which can be determined by a number of factors, including age, location, and condition: Class A: These are the highest quality apartments, typically built within the last 15 years.
Mike Conner
Investor wants to trade properties - seeking advice
12 January 2025 | 2 replies
Just say no.I would almost never do this trade unless all my downside, including potential unknowns, were completely compensated for.
Dominic Mazzarella
Turning Challenges Into Opportunities: How I Saved My Multi-Use Property Sale
19 January 2025 | 9 replies
It included 25 mobile homes, 60 self-storage units, and four commercial tenants.
Tina Artigliere
Quest Trust Suddenly Closed down Administration on their Solo 401K Plans
17 January 2025 | 24 replies
It will include an approval letter from the IRS.
Joseph Beilke
Costa Rica Info
11 January 2025 | 11 replies
Our total invested into this property is 1.14 million among 10 investors (this amount does include a 250k seller carry loan to be paid off by the 2 of the investors over 5 years).This property was up and running starting December 15 and we have had it pretty booked since then.
Nathan Gesner
Have you ever used your umbrella insurance policy?
15 January 2025 | 11 replies
These were not specifically related to owning rental properties but the clients' assets (including any owned property) was better protected due to having umbrella coverage.
Leeling Chew
Should all tenants fill out rental application, or only the one who pays the rent?
10 January 2025 | 8 replies
This includes credit, criminal, and rental history checks for all parties.
Jack B.
What are the risks of DSCR loans?
19 January 2025 | 9 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
Dan Ross
Is the Pace Morby Subto program worth 10,000 dollars?
20 February 2025 | 51 replies
As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial intereststransferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to purchaser.If all or any part of the Property or any Interest in the Property is sold or transferred