4 September 2024 | 11 replies
My lease is written such that an unauthorized pet has associated a per day fine of $50/day (which is about what pet boarding costs) plus for any animal stay tenant agrees to HVAC duct cleaning and professional floor cleaning to remove any pet dander (some people are very allergic to pet dander).
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2 September 2024 | 22 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).
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2 September 2024 | 2 replies
Background:Miami-Dade Condo property.I am a first-time seller.No mortgages or loans on my property.Standard Florida Realtors Association / Florida Bar AS IS Purchase Contract.Buyer in default on various provisions and must proceed to purchase as a cash purchase, per contract, so there should be no financing related title charge son my end.I am looking for a flat fee or low-cost title company to assist me with the seller side of the closing and coordinate with the buyer's title company.
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2 September 2024 | 11 replies
We offer 80% cash out in a few states (unfortunately not MD) but as others have mentioned the LLPA associated is substantial. 75% is the industry standard for max cash out but we could close with it vacant as long as it's rent ready and listed for rent online.
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7 September 2024 | 85 replies
On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.
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1 September 2024 | 8 replies
You might try Indeed.com.My son has a degree in Nuclear Physics and I wouldn't trust him with a hammer.
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31 August 2024 | 1 reply
Having earned my degrees along the way and holding several professional certifications and licenses, I’m always looking for new ways to grow and challenge myself.
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31 August 2024 | 14 replies
See what different associations offer.
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31 August 2024 | 2 replies
I've followed BP for a while now but I have finally started taking steps toward achieving my goals. 10 years ago I wish I had entered the industry, rather than going back to school for my degree in education.
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2 September 2024 | 7 replies
For tax purposes, the IRS sees you and your LLC as the same entity, so transferring the title to your personal name typically wouldn’t affect the 1031 exchange deferral.However, to maintain the tax benefits associated with the 1031 exchange, it’s important to ensure that the property remains a rental and continues to be used for business purposes.