Yaroslav Shtogun
Lot split with house on the line
20 January 2025 | 16 replies
However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?
Peter Tverdov
Featured Agent Feedback from Agents?
13 January 2025 | 4 replies
First month of leads and I have to laugh at some of these.
Eric Maxwell
1st time landlord
9 January 2025 | 1 reply
Purchase price: $140,000 Cash invested: $22,000 Sale price: $180,000 Moratorium expired a few months before closing and I inherited 2 tenants couldn’t get into the property for 3 months!
Enrique Toledo-Perez
Advice on getting started
26 January 2025 | 10 replies
Comps wise look under 1 mile and the past 6 months for sales.
Henry Farias
Got Land and want to use it as down payment.
15 January 2025 | 1 reply
I understand the risk it comes with if I have vacancies, but I do have a couples of months of mortgage saved to use in case I get stiffed.
Mary Holland
Hey everyone! Has anyone here gone through the application process for DSCR loans?
5 February 2025 | 10 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).
Sean Gallagher
Scaling out of state while busy working my W-2
12 January 2025 | 23 replies
Soon I would be doing a home a month+.
Michael Carbonare
Creative Real Estate: The Power of Lease Options
5 February 2025 | 7 replies
I reduced my responsibility to only taxes/insurance while the tenant buyer does the maintenance, pays utilities and makes monthly payments to me.
Donald Hatter
Reporting Unpaid Rent to Credit Bureaus
11 January 2025 | 1 reply
Our lease contains a clause stating the security deposit cannot be used for the last month's rent. 3.
Ashley Wilson
Pros and Cons of Joining a Coaching Program
27 January 2025 | 29 replies
Plus virtually every city of note has a REIA with monthly meetings and other meetups.