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29 January 2025 | 22 replies
You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.
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24 January 2025 | 36 replies
Also we felt we were going to make more self managing than with the payments they were offering.
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16 January 2025 | 23 replies
There was also a loan grant available from the state of NH for first time home buyers for 3% down payment assistance.
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13 January 2025 | 11 replies
If tenant below is paying 1,500/m he's living in area he wants for roughly 750/m P/I payment.
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16 January 2025 | 0 replies
We refinanced and cashed out all our renovation budget plus $5,000 and actually kept monthly payment the same as rates had dropped.
4 January 2025 | 5 replies
To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!
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15 January 2025 | 2 replies
Start working towards a 5% down payment so you can house hack a MFH.
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13 January 2025 | 19 replies
I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.
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16 January 2025 | 20 replies
To me, having one mortgage payment for 2 - 4 houses (basically) always seemed interesting and like something that would give me more bang for my buck.
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15 January 2025 | 6 replies
Most lenders I work with would lend you 70%-75% of the value of the property, but only so much that your NOI/profit is 20%-25% of the monthly loan payment.