Rita Medeiros
Section 8 & mice what are the expectations. Give me your opinion
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.
James Green
44 units in Cleveland Ohio Sale
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.
Trent Gulino
Using a heloc to brrrr
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).
Michael Nguyen
DSCR loan for an LLC multiple members. Does the lender look at all credit scores?
10 December 2024 | 11 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).
Chris Gibbins
Turnkey ATM Investing - Anyone tried it? Any feedback?
4 December 2024 | 7 replies
Has anyone worked with this company, or done any investing in this asset class that can provide any feedback or recommendations including reputable companies with good track records?
Radhika S.
Newbie & long distance
13 December 2024 | 35 replies
I have done a couple hours of initial research searching for top markets and have an initial list that I'm researching including Detroit, Memphis, and OH (Columbus, Dayton, Cleveland, Cincinnati) to start.
Nadir M.
Maintenance replacements for certain household items
5 December 2024 | 20 replies
I think it's really important to include the language in the lease.
Zachary Sakena
How to structure first rental in NJ: Should I use an LLC? Land Trust?
11 December 2024 | 13 replies
I read it a lot of different places including on bigger pockets.
Sushil Iyer
Estimating expenses post-purchase
4 December 2024 | 4 replies
Quote from @Addy Chupa: When analyzing deals, I usually include a 5% vacancy factor and 5% repair factor based on annual rent.
Ren Lok
Furnish Finder vs ?
10 December 2024 | 22 replies
I contacted the recruiter directly and provided them a flyer for my property so they can include it when placing future travel nurses in my area.If you have multiple units (usually there is a minimum of 4 or 5), then the hospital is usually willing to share your information with their inbound travel staff.Best wishes,Melissa