Sherrie Wilson
To LOFT or Not to LOFT
16 November 2024 | 2 replies
@Sherrie Wilson thats a lot of extra money for the cool factor.
Jason Porto
Jose Botello
Repairs and upgrades to one side of a duplex
16 November 2024 | 6 replies
You may be able to factor in certain improvements to your personal residence so when you do move out, you can be eligible to depreciate it.
Reggie Parker
Best SMS platforms?
14 November 2024 | 5 replies
Good morning from the east coast, actively looking for a good SMS platform?
Joseph Fenner
How do I find the best deals?
15 November 2024 | 4 replies
What are the most important factors that make a good deal?
Olivia Armstrong
Advice on first househack: buy down or refi??
17 November 2024 | 6 replies
All of those factors will guide you on doing a buy down.
Theresa Rivard
Dscr loan Co-signer
13 November 2024 | 34 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).
Clarissa Finks
Feedback on Management Platforms (Baselane? Stessa?...)
15 November 2024 | 6 replies
Good morning all - I've been using RentRedi for the past year but have heard good things and am exploring Baselane and Stessa.
David Cherkowsky
Do I need a partnership LLC to depreciate and write off expenses on a rental property
17 November 2024 | 30 replies
Quote from @David Cherkowsky: Material Participation: Material participation is the key factor here.
Brian Joseph OConnor
Seeking DSCR lender to scale my specific long term rental strategy
19 November 2024 | 6 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).