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22 October 2024 | 12 replies
A qualified professional appraiser will generate a comprehensive analysis considering factors such as sales comparisons, highest and best use, market conditions, and income generated following Uniform Standards of Professional Appraisal Practice guidelines.
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23 October 2024 | 28 replies
I did not factor the math in as a LTR + STR but just a LTR so it did not impact me financially as it was just gravy.That is not to say yours will, but I notice in the better neighborhoods tenants do not want guests coming in & out.
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20 October 2024 | 84 replies
Putting that money in bonds would even be better than paying down those notes (even without the loss of mortgage interest tax deduction savings factored in).
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22 October 2024 | 14 replies
She can't afford rent, so you get her moved out by the end of the month, then apply her deposit to the unpaid rent, cleaning, and repairs.I may even incentivize her to leave quickly by offering to forgive the unpaid portion of rent if she gets out by the end of the month, but it really depends on a number of factors and I'm not going to ask for details.For future reference, best practice is to have set standards and adhere to them every time.
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24 October 2024 | 33 replies
HUD will only approve market rent and rent the tenant can afford which can be a limiting factor for you.
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23 October 2024 | 16 replies
Self-managing can be challenging or restricted, so be sure to factor that into your decision.
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18 October 2024 | 14 replies
No exposed frame.I would choose the black edging where the photo doesn't wrap around.
21 October 2024 | 9 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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17 October 2024 | 1 reply
It’s crucial to work closely with your broker to ensure a seamless switch, without leaving your business exposed during the process.When Should You Consider the Switch?
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21 October 2024 | 28 replies
Don't buy turnkey when they are already factoring all the headache cost to you, and there's no guarantee a future headache won't happen.Having a 5 year old, a W2 and living in Cali is nothing.