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19 November 2024 | 14 replies
.- Insurance: Short-term rental insurance (beyond renters') can protect you from guest-related risks.- Licensing or Permits: Check if your area requires permits, as some cities have fees for short-term rental operators.Breakeven Analysis: To calculate your breakeven occupancy rate, add all monthly expenses (rent, utilities, cleaning, insurance, etc.).
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20 November 2024 | 11 replies
Check into insurance and tax rates in the areas, along with estimated mortgage costs.
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19 November 2024 | 2 replies
An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.
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17 November 2024 | 8 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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19 November 2024 | 6 replies
It also depends on the situation sometimes a HELOC is warranted for short term financial needs so long as you have a plan to get back in the same or better financial position afterwards and the "means," and "will," to carry out this financial or mortgage plan- HELOC's are typically full documentation qualifying loans so you'll need actual income to qualify whether it be from pension, insurance, rental's, etc that are all fully documented on taxes, W2's, 1099 forms, etc.
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25 November 2024 | 36 replies
While it uses partner banks to provide banking services, your FDIC-insurance protection may be limited.
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16 November 2024 | 3 replies
To save money, management raised the wind and hail insurance deductible from 5 to 10 percent.
18 November 2024 | 1 reply
Make sure you’re checking in on your tenants, getting them to document any damage, and having solid insurance coverage.
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18 November 2024 | 3 replies
What about taxes and insurance, how much are those?
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20 November 2024 | 24 replies
As others have said watch out for property taxes and home insurance too.