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19 January 2025 | 5 replies
As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify.
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26 January 2025 | 51 replies
Have 3 investments in GoodEgg - 2 have stopped making payments.
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29 January 2025 | 19 replies
Explain your situation and see if there are payment plans or hardship programs available.The BiggerPockets forums have threads on tax liens and foreclosure prevention: https://www.biggerpockets.com/forums/41/topics/766025-surplus-funds-unpaid-taxes-in-foreclosure-saleAn experienced real estate attorney can advise you on your legal rights and explore potential solutions.Have you spoken with your local tax authority yet?
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14 January 2025 | 9 replies
In my experience that's not actually the case at least in legitimate evictions for non-payment of rent or breach of another part of the lease.
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19 January 2025 | 9 replies
I still remember the first loan payment coming due and wondering where that money was going to come from!
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
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25 January 2025 | 17 replies
Rent to Retirment (RTR) has very recently announced the RTR academy that investors can join for a one time payment to learn everything about investing.
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15 January 2025 | 2 replies
This is from the BP rental calculator and is exactly what I'm wanting to see, just with extra payments each month.
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26 January 2025 | 15 replies
They are able to See a COC return within weeks of the down payment, when the unit rents.
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8 February 2025 | 42 replies
Here are a few stats which should raise an eyebrow about Detroit $1 billion invested in more than 4,600 units of affordable housing over the past five years Job growth with more than 25,000 more Detroiters employed since 2014 A return to investment grade bond status for the first time since 2009Reductions in crime beating national trends, including the fewest homicides in 57 years Successfully hosting the largest ever NFL Draft at 775,000 people over three days In terms of starting out in Real Estate it also makes sense to invest in Detroit considering that the entry costs are low and if you plan to buy and hold, Section 8 makes for a great partner to insure steady rent payments.