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27 January 2025 | 1 reply
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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19 February 2025 | 14 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 | 7 replies
. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.
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30 January 2025 | 4 replies
How do you even know if things will work out?
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29 January 2025 | 7 replies
Or should I use the new Oregon address for the LLC even though I don't yet live there?
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31 January 2025 | 5 replies
Update to my previous post (the update button didn't seem to do anything for me).Their customer support team was able to help me get my account back, even though the email made it seem otherwise.
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25 January 2025 | 8 replies
Even calling Airbnb or VRBO CS and telling them that you just looked for your listing and could not find it, will boost your algorithm ranking somehow.
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26 January 2025 | 12 replies
there just aren’t many sold properties in the neighborhood in the last 3 months and even out to 6 months is limited.
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11 February 2025 | 8 replies
Even though we want a higher amount write off for depreciation but I get it.
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26 January 2025 | 14 replies
I truly believe she had a medical condition and shouldn't even live in my house, should probably live in elderly housing or the like.