Brendan Finney
Investing in Omaha, NE.
7 December 2024 | 2 replies
Market fundamentals and economic factors seem strong and promising.
Seth Roland
Advice on Getting a Lender/Financing
9 December 2024 | 24 replies
The differing factor, IMO, is whether you're working with an HML/PML or a traditional bank/credit union.
Frank Dean
Section 8 rent
8 December 2024 | 12 replies
That’s before factoring in utilities or each personal situation.
Michael Nguyen
DSCR loan for an LLC multiple members. Does the lender look at all credit scores?
10 December 2024 | 11 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).
Chirag Mehta
Newbie- Land purchase and development of Retail Shells
6 December 2024 | 12 replies
Get a good architect first and design what you need don't jump the gun.
Trent Gulino
Using a heloc to brrrr
9 December 2024 | 8 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).
Raza Rizvi
STR laws in Cincinatti
5 December 2024 | 5 replies
It's designed to ensure someone nearby can manage things responsibly.Your plan to hire a local person for emergencies and other tasks is a great workaround.
Sushil Iyer
Estimating expenses post-purchase
4 December 2024 | 4 replies
Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.
Ren Lok
Benjamin J Thompson
AI Analysis Tools? Which is best and why? Anyone using any of these and why?
5 December 2024 | 11 replies
Skyline (Designed for institutional investors and asset managers focused on commercial portfolios).