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31 January 2025 | 3 replies
Even if it's just part time, the key to figuring out how PM is done well is by being present around people who have mastery of the industry.
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29 January 2025 | 6 replies
BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.
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2 February 2025 | 8 replies
Likely will pay 300 plus monthly with a one year commitment, but I get my best info (even that is lacking) from there.
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19 February 2025 | 11 replies
Wondering if I should even do it myself or hire a lawyer to set this up for me to the tune of $3000 includes titles etc OTD.
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29 January 2025 | 3 replies
and they charge per door and not sure if they even offer everything that I want.
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14 February 2025 | 24 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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27 January 2025 | 11 replies
He even chatted with me through this forum (Bigger Pockets) and was very encouraging that you can even do it just with free stuff out there.
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4 February 2025 | 3 replies
I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh Wow, I wish we had even $200/sq ft here in California.
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28 January 2025 | 15 replies
But I'm not sure how I would structure these deals or if I could even get these deals!
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7 February 2025 | 6 replies
but i also 2nd @Jay Hurst's sentiments - get a 2nd or even 3rd opinion on DTI/ full doc. i personally love files that are puzzles, i get some weird satisfaction out of figuring out how to make it work on full-doc, especially when my client has been told "no" before. if it doesn't work now, a good loan professional will help you create a path forward.