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12 December 2024 | 6 replies
Or if your not doing too much volume he can buy/partner in his personal name and get good liability insurance.
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10 December 2024 | 6 replies
The only way to answer that in general (whether house hacking in today's market is still a good option) or for a particular property, is to learn how to run the numbers and analyze a specific property to see whether it will be able to stand on its own as an investment when you move out someday.There are a lot of resources here on BP for doing that but I'd just say, make sure the assumptions you're putting into your spreadsheet or deal analyzer are realistic.Make sure the rents (especially for vacant units or pro-forma #s) are realistic by doing your own rent comps; make sure the mortgage rate is realistic by doing some research online and/or talking to some mortgage folks; make sure insurance #s are realistic by getting a couple of quotes for the # of units and zip code / area you're looking in; etc.I hope that helps, and good luck 😊
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10 December 2024 | 36 replies
These companies do NOT have their own money they all tie into Large hedgefund or insurance company LOC's that can change on a whim and you know sheeet flows down hill.
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12 December 2024 | 9 replies
Then you will have a principal and interest payment of around $13,450.00 plus Taxes and insurance so add in another $2800 for $16,250.00 a month.Â
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9 December 2024 | 4 replies
They do everything for you (payments, taxes, insurance coverage)Â - the website and app are easy and functional and you can vet your guests!
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10 December 2024 | 8 replies
Here are the numbers:Purchase price: 300k @5.5% (might be able to negotiate new exterior paint job credit)Monthly costs: mortgage- 1703 tax-245 (2933/yr) insurance- 167Market rents are 1600$ easy for both sides as is but currently being rented at 1410 and 1325 tenets pay all utilities (separately metered)Planning on putting aside 20% of rents for Maint, vacancy, capex and will be self managing property.
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17 December 2024 | 29 replies
There is a company in my area that it looks like it will cost me about $400 a year per property but after this week I would welcome that "insurance" as I just had a large unexpected AC bill. Â
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9 December 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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10 December 2024 | 2 replies
you probably know this but -Â there are holding costs associated with most flips - interest on the loan, insurance, and sometimes others depending on the localityhope this helpsÂ
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10 December 2024 | 17 replies
Technically, those sleeping over 12 built after 2016 are putting themselves in a legally liable situation if something happens as insurance companies may not cover them.