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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.
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23 October 2024 | 27 replies
Ensure the appraiser accounted for things like the square footage, recent improvements, location benefits, or other factors that impact value.
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18 October 2024 | 3 replies
Also, consider factoring in a conservative appreciation rate and double-checking your repair estimates.Hope this helps!
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20 October 2024 | 13 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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19 October 2024 | 11 replies
@Audrey Sommeron where specifically to live, and what makes the most sense given all the factors - that's totally up to you.
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15 October 2024 | 40 replies
At that point, your ENTIRE ESTATE is exposed and subject to discovery in subsequent litigation.I am not an attorney and this is not legal advice.My $0.02 ...
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16 October 2024 | 6 replies
If just going this path is more practical it would simplify things significantly, but everything I understand says introducing these new activities and the respective liability could expose our other property to risk if a nuclear claim occurred related to either property if they were part of the same LLC.
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20 October 2024 | 14 replies
It is a simple question, one many of us see, but it is an advanced concept for flippers and knowing how to work within seasonality if it is a factor in your market.
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17 October 2024 | 12 replies
Are they doing everything possible to expose properties to the broadest possible market?
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18 October 2024 | 8 replies
The key factor is ensuring you have proper documentation to support all the transactions, deductions, and income reported.