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27 January 2025 | 6 replies
of those I like next door best because it is hard to fake and the reviews are easily tied to a reviewer in your community.The costs of ADUs vary significantly for various reasons including by ground up vs conversion, difficulty with lot (sloes, access, etc), finishes, and even the size (bigger typically have lower PSF).Good luck
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24 January 2025 | 7 replies
My biggest conundrum now is I want to be my own GC because even when I play with smaller numbers they’re still out of reach for me to be able to attain this goal and afford the monthly mortgage with taxes and insurance.
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3 February 2025 | 12 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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28 January 2025 | 71 replies
Seems like the only neighborhoods where FHA is even a possibility is cypress hills / east New York or east Flatbush, among other further out areas I don't really want to live in.
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22 January 2025 | 3 replies
Also, without even looking at the plans a 7 unit building will likely have flawed floor plans and/ or an inefficient layout unless its an irregular site.
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24 January 2025 | 42 replies
I am not at an attorney, but if your "tenant" stops paying, and you try to take them to court to evict them, you're not even the owner of the property.
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24 January 2025 | 1 reply
Germany offers an incredible opportunity for U.S. buyers, and here’s why:1.Stable Economy: Germany is known for its economic stability, even during global uncertainty.
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23 January 2025 | 5 replies
BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.
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23 January 2025 | 165 replies
Even if straight off a cliff.