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25 September 2024 | 5 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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24 September 2024 | 11 replies
Reach out to a few and see who you like.You can also ask members of your local real estate investors association for real estate accountant recommendations.Good luck.
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26 September 2024 | 1 reply
I've since come to love the community and hope to become the type of investor that uses real estate to not only improve my life, but the lives of my partners, associates, and community as a whole.Looking forward to connecting with you all!
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27 September 2024 | 9 replies
Reach out to a few and see who you like and who is accepting new clients.You can also ask members of your local real estate investors association for real estate accountant recommendations.Good luck.
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23 September 2024 | 0 replies
Although I've been investing in and improving multifamily properties since 2000, I decided to go back to school and get a Bachelor's Degree in Construction Management from BCIT (I already have my Red Seal in Carpentry).
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26 September 2024 | 9 replies
Which amenities included in a Home Owners Association or Condo Owners Association provide a good value to the owners because of economies of scale?
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25 September 2024 | 11 replies
Also, you may want to talk to your local manufactured housing association.
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25 September 2024 | 8 replies
I was not assigned to the Team Lead, but one of their Associate Realtors.
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25 September 2024 | 9 replies
A great way to start is by attending RE events and joining a local investors association.
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24 September 2024 | 4 replies
Wanted to know if anyone would be willing to recommend RE attorney in South Florida from West Palm Beach to Fort Lauderdale who has experience and would be able to assist with:- review and advise on current leases in place- company formations being that also licensed sales associate- review and advise on trusts- advice a preparation of private money lending docs- property management formation best practicesAs always, thanks much in advance to everyone for any light you can shed!