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).
Brian Kempler
DSCR refinance loan against a property leased on a lease option
17 November 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).
Kwok Wong
What to look for in a Seller's Disclosure and Lead based paint?
15 November 2024 | 4 replies
the short answer is... the deal has to work based on all of the findings and factors.
Brian Quo
How bad is it to start off not cash flowing on 1st rental that is new construction?
20 November 2024 | 37 replies
You would need to factor in property tax and insurance increases and future repairs/cap ex.
Kenneth Johnson
Literally any advice to getting started would be appreciated.
18 November 2024 | 12 replies
Can be side hustles, education, applying at other places but income is a huge factor in order to invest.
Kevin Hilton
Down Payment on Next Property Advice
18 November 2024 | 13 replies
You have to factor in the increase in the cost of your money.
Richard Pastor
getting a HELOC on investment property the Refi into DSCR
17 November 2024 | 10 replies
Then once the rehab is complete and rented I would refi into a DSCR loan where your DTI is not factored in.
Dennis Gallagher
New RE investor, working with my son
12 November 2024 | 5 replies
Quote from @Dennis Gallagher: Good morning BP community.
Meghan Begue
Helloooo Bigger Pockets!!
14 November 2024 | 12 replies
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