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22 November 2024 | 92 replies
Here's my primary reasons:Expenses disproportionately impact lower rent collecting properties For illustration purposes compare two identically designed 1+1 duplexes in the same market.
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22 November 2024 | 5 replies
This is some of the most basic info for those interested in started a STR.
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22 November 2024 | 7 replies
Make a welcome video explaining to tenants how to do the basics and when to contact you.
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21 November 2024 | 7 replies
Nobody can afford higher prices but the majority of his voters don't understand tariffs, global trade, and basic economics so here we are.
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18 November 2024 | 16 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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21 November 2024 | 25 replies
I basically ended up paying for the rehab twice and lost tens of thousands of dollars to make sure my lenders were all paid back.
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24 November 2024 | 27 replies
Another question I had however is, when/if you ever decide to sell, do you believe they are harder to sell due to it basically having to sell to another investor looking for this and not someone looking for full time living space?
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20 November 2024 | 11 replies
It's a thought of mine as well, basically following my mentors model.
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21 November 2024 | 14 replies
basically what wheatie said, but slightly different.
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12 November 2024 | 2 replies
They presented a juicy case study to illustrate the benefit of depreciation recapture shifting from cost-segregated personal property to real property.