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23 October 2024 | 7 replies
So it's not the same as bank which might do 2-2.5x once debt payments are factored in.
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23 October 2024 | 6 replies
@Shaun Hunt Starting a property management company to manage your own properties could offer some tax advantages, but there are important factors to consider.
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23 October 2024 | 3 replies
For experienced landlords, what factors should be prioritized when choosing landlord insurance?
22 October 2024 | 8 replies
The rents were at $1000 a door with a potential to increase up to $1250 after some small TLC renovations.When you factor in the price point, lower taxes and lower insurance you have yourself a sure fire cash flow deal.
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22 October 2024 | 6 replies
Factor in hard money loans, high contractor bids for rehabs, etc and you have no deal.
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24 October 2024 | 16 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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23 October 2024 | 4 replies
The most important factor in a 1031 exchange is who the taxpayer is for the property.
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21 October 2024 | 4 replies
Additionally, local real estate meetups and events can expose you to financing options, legal contacts, or strategies that are applicable no matter where you're investing.Remote investors often build their teams by reaching out to local agents, property managers, and contractors in their target markets.
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23 October 2024 | 5 replies
If not and I have to go out and build the team and organize the deal, I will factor that in too.
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24 October 2024 | 10 replies
The most important factors a hard money lender will look at, if you don't have experience, is your liquidity and credit score & history (as well as your background -- no liens, judgements, foreclosures, bankruptcies, etc).I would hit up @Michael Cid -- he's a tremendous resource and is a direct lender.