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5 December 2024 | 13 replies
If price point for these properties is a limiting factor, properties found on the North side of Veteran's Memorial Pkwy can be viable too, as long as they are on the East side of Santa Barbara Blvd, and South of Pine Island Rd (SR-78)
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4 December 2024 | 7 replies
You will have income (rent), but then you'll have expenses: taxes, insurance, repairs, turnaround cleanup, eviction/attorney costs, vacancy factor etc.
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2 December 2024 | 19 replies
My goal here was to get a "brick and mortar" address rather than a PO Bx... usually i go the UPS route but signed up for iPostal1 this morning as it has a location near my home.
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4 December 2024 | 9 replies
Hey Elizabeth - I'd factor in about $10k to get a padsplit up and running when it comes to furnishing which would include washer / dryer, additional fridge, bedding/desks, common area furnishings if you want to offer a little better experience.I'm only familiar with ATL - I think accounting for 1 move in / 1 move out per month is a good conservative assumption here.$8kish / year or so on routine and reactive maintenance combined which should include your cleanings, lawn care, maintenance calls ect. 12% per month of gross rents should be a good estimate if you want to look at it like that!
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2 December 2024 | 14 replies
I usually have found most of my contractors at lowes or home depot in the early mornings.
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6 December 2024 | 21 replies
We do deals with Kiavi and I was actually just listening to an interview about them this morning.
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5 December 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).
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4 December 2024 | 3 replies
Its a more comprehensive view especially early in your investing journey unless $ isn't a factor.
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2 December 2024 | 1 reply
Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)