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18 February 2025 | 6 replies
It seems like I would be cutting it close to try to finish, list, and lease it starting March 1?
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13 February 2025 | 7 replies
That is a common arrangement as well, that can be done after the loan has closed, too.
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3 February 2025 | 2 replies
This was my first time buying a property solely for an investing purpose, and Melissa Justice was the person that I was connected with to help me pick out properties.
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13 February 2025 | 1 reply
Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details: After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.
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24 February 2025 | 3 replies
I’ll be there keeping a very close eyevduring the Reno because i figured as much…who should i steer clear of ?
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25 January 2025 | 8 replies
That can be a tough part, but isn't close to half of the process.
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14 February 2025 | 5 replies
We bought the property at below market rate because the seller was motivated and needed to close quickly.
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3 February 2025 | 8 replies
If you're still looking for a CPA/Tax Strategist in California feel free connect.
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13 February 2025 | 8 replies
Just do a little bit of research and connect with a great property manager.
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11 February 2025 | 7 replies
The time to close might be harder I would look at heloc.