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6 December 2024 | 4 replies
So minimal impact to credit during the rehab process.It appraised for $173k after rehab, refinanced and paid everyone off including the seller, and walked with cash to do my next deal :)
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6 December 2024 | 2 replies
For us, we use Reliant for the make readies and TXU energy for properties that either have lights included in their rent or for common area lighting.
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9 December 2024 | 24 replies
Quote from @Jaycee Greene: If you go the conventional/DSCR route, these are considered "Commercial" loans and the properties are referred to as "Non Owner-Occupied" and, as such, the cash flow of the property is most important, and your DTI is not generally included in the underwriting.
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11 December 2024 | 14 replies
Make sure you know the impact that adding an ADU will have on any rent control. 12) investors seldom include the land value in the overall ADU costs.
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16 December 2024 | 43 replies
Our team discussed multiple investment options with him, including new construction homes in nice areas that likely attract better quality tenants.
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9 December 2024 | 21 replies
This property will not compete with hotels is what I thought We just book multiple rooms next to each other to take advantage of the included Disney transportation.
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6 December 2024 | 5 replies
You can even use a really fine-grit sandpaper.This video demonstrates how she repairs a stainless steel sink and it includes before/after images for comparison at the end.
6 December 2024 | 8 replies
The agent's compensation is negotiable and 6% may be more common if that includes the buyer's and seller's agent, but if the 6% only covers the selling agent, then that's a greed reach especially considering it's a 2m+ sale price.
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9 December 2024 | 8 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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12 December 2024 | 20 replies
@Catherine Emert - In Virginia too, and likely in every state, tenants are responsible for damage they cause, including a pest infestation.