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27 January 2025 | 3 replies
-Management is low - you'll need at least 10% plus leasing costs - typically a month's rent for each lease-up, and sometimes a renewal fee as well-Insurance seems low-Are taxes accurate?
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28 January 2025 | 9 replies
There's a monthly cash flow 101 game in Bloomington through MN REIA.
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26 January 2025 | 11 replies
Even if you break even, you will lose money every month it sits vacant, when you need repairs, property management, etc.
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5 February 2025 | 13 replies
on a 100 year old house that rents for $1000 a month that's about to need a new everything - that is spectacularly deficient.
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19 February 2025 | 14 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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4 February 2025 | 11 replies
Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!).
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27 February 2025 | 10 replies
This is the slowest leasing time of the year during the winter months.
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27 January 2025 | 0 replies
The months of supply, a key indicator of market health, sat at 8.5 months.
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10 February 2025 | 30 replies
They have a monthly meet up.
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2 February 2025 | 8 replies
Likely will pay 300 plus monthly with a one year commitment, but I get my best info (even that is lacking) from there.