Colin Ford
BRRR long term buy and old for STR or long term rentals
12 January 2025 | 12 replies
We have the full gambit from 1) finding and buying the right property in the right locations to 2) professional execution of the design to 3) discounted property management services.
Alec Barnes
How Do You Ensure Quality Tenants?
9 January 2025 | 12 replies
We measure against 15 different factors.
Aaron Raffaelli
DSCR Loan for a first time REI
19 January 2025 | 18 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).
Antoine Black
Home equity line of credit
22 January 2025 | 6 replies
Other factors as well of course: DTI, the LTV, primary residence vs investment property, etc.
Christopher Lynch
What Is The Best Way to Start Flipping Houses and Raise Capital?
16 January 2025 | 10 replies
You can stack your personal 50%s up for separate ventures while still knocking out deals without your own capital2) Read Raising Private Capital by Matt Faircloth3) One LLC with the S Corp designation to pay yourself a reasonable salary from the flip profits.
Najeh Davenport
Need Advice on Appraisal Issues and Refinancing Options
15 January 2025 | 12 replies
Several factors indicate the company is not that concerned about efficiency or ease of customer process: the website, a process that seemed to focus on one issue at a time instead of all issues at once, and consistently poor communications and lack of common sense from the loan analyst we were assigned.It started off very well with the initial point of contact, Austin Lornson, who did a fine job of explaining the general refinancing process, responding quickly and thoroughly to our questions.
Account Closed
L.A. Wildfires and Their Tax Implications for Affected Residents
9 January 2025 | 0 replies
Understanding the IRS disaster relief provisions is crucial for residents seeking financial recovery.Under IRS guidelines, individuals and businesses in areas designated as federally declared disaster zones by FEMA may qualify for special tax relief.
Jacob Havlovick
Duplex House Hack
22 January 2025 | 8 replies
For bookkeeping purposes, I recommend designating a separate bank account exclusive to the house hack activities to keep some sanity.
Diego Trujillo
Dallas New Construction project
14 January 2025 | 2 replies
The key difference, though, was he spent months carefully getting to know the local architecs, reputable builders, and even a couple of niche design firms that specialize in modern builds for mid- to high-end buyers.
Angel Perez
Can I get a loan for a property uninhabitable?
21 January 2025 | 11 replies
They are designed to acquire, rehab, then get out of the loan quickly.