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16 January 2025 | 20 replies
It's going to offer Strong economic growth, Appreciation (especially in DFW), Tax advantages (no state income tax), and a Growing population, including infrastructure and amenities.
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10 January 2025 | 12 replies
We have a single flat fee of $1,500 for all of our fees, including the appraisal/valuation.
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19 January 2025 | 9 replies
It included 25 mobile homes, 60 self-storage units, and four commercial tenants.
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17 January 2025 | 24 replies
It will include an approval letter from the IRS.
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11 January 2025 | 7 replies
The law allows you to charge for ALL cleaning, including trash removal.
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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.
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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.
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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.
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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.
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5 February 2025 | 205 replies
I was quoting pool prices for my clients several years ago at approximately $40K (basic package 12'X24' including screen enclosure and paver deck) and then they doubled and more after COVID.