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30 June 2024 | 4 replies
Not prohibitive like a "lockout period" you may see with commercial or traditional multifamily loans, just a small feeMore info on factors that go into DCSR rates and Prepayments:DSCR Loans: What Are They And How To Get The Best Termshttps://www.biggerpockets.com/...DSCR Loans: How To Use Pro Strategies To Save More And Make Morehttps://www.biggerpockets.com/...
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1 July 2024 | 6 replies
We’re one of the few property managers that require W-2’s and a bank statement and we go way beyond the traditional, “income must = 3x rent” qualifier.Below is more information about what our Applications Department does to screen applicants and find the best tenantspossible for your property.Required InfoWe require the following from each applicant over the age of 18, that is not a dependent of anotherapplicant (as evidenced on a tax return):Copy of acceptable state picture IDRecent YTD paystubRecent W-2Recent Bank Statement, all pages, no info blacked outRecent tax return if self-employedCredit HistoryMany companies use credit summaries, but we find these rarely tell the whole credit story.
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30 June 2024 | 54 replies
Not simply the traditional seasonal uptick.
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30 June 2024 | 7 replies
Likewise, the opposing force is agents these days are super, super pushy to where if you have them in the process they'll break anything down that isn't a linear or traditional, not necessarily easy, process.People like everything seamless and transitional, almost a turnkey process.
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1 July 2024 | 12 replies
This is in a C market.Building cost for traditional storage has almost doubled in the last 4 or 5 years.
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28 June 2024 | 3 replies
Pros:Potential for Bargains: Auctions can offer properties at lower prices than traditional listings.Speed: The auction process is usually quicker than traditional sales, with a defined timeline for closing.Transparency: The bidding process is transparent, and you can see competing bids in real-time.Cons:As-Is Condition: Properties are often sold "as-is," meaning no repairs or warranties.Limited Inspection: There may be limited opportunities to inspect the property before bidding.Financing Challenges: Securing financing for auction properties can be more challenging and may require quick approval.Auction Fees: Be aware of any additional fees, such as a buyer's premium, that could affect the total cost.I hope this helps you out!
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30 June 2024 | 14 replies
It is usually less work than STRs, but results in lower rent (but should be higher than traditional LTR).
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27 June 2024 | 3 replies
DJ always boasts about how hes Christian and a Jesus follower to gain peoples trust but his actions clearly show otherwise.
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29 June 2024 | 10 replies
By opting for a 100% seller financing strategy, you're essentially stepping into the shoes of a lender, offering the buyer an opportunity to purchase your home without traditional bank financing.Sale Price and Loan Terms:You sell your Kentucky home for $400,000.You offer 100% seller financing to the buyer at 4% interest over a 5-year term with a balloon payment.Original Loan vs.