William Taylor
[Calc Review] Help me analyze this duplex in Michigan - are these numbers correct?
12 January 2025 | 12 replies
page=LoadVirtualDoc&BookmarkID=6536) that capped annual increases to the Taxable Value of a property to the lower of 5% or Michigan's Cost of Living increase.
Tayvion Payton
Would You Pay an 18% Premium for Seller Financing at 2%?
19 January 2025 | 8 replies
I would negotiate a price point that is lower - maybe the 10-12% range above "market".
Felicia Jenkins
House rent or not outside Atlanta
21 January 2025 | 15 replies
This could lower your resale value.
Leon George
New to BP Community
24 January 2025 | 13 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
Anderson S.
Breaking Through Financing Hurdles with Expert Mortgage Brokers
22 January 2025 | 0 replies
Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.
Nick Am
Setting up a management S-corp for managing rental property owned by an LLC
23 January 2025 | 16 replies
This active income can help me fund my retirement as well as help me get reimbursement for home office and health care premium while lower my tax liability.
Jerry A.
Exploring Cash-Out Refi Options
6 January 2025 | 5 replies
DSCR or Fannie/Freddie loans can go up to 75% on single family homes, multi family homes (2-4 unit) max at 70% if you stick with Fannie/Freddie.Other things to consider would be:Paying points for a lower rate vs higher rate with no pointsIf going DSCR - Prepayment penalty term (0-5 years)The lower the loan size ($200-250k and lower), you should consider paying up to 2 points and doing a 5 year prepayment penalty if going DSCR.
Adam Newman
10% down or 20% down???
23 January 2025 | 10 replies
Or if you want a lower monthly payment, then do the 20% down.You can also negotiate credits with the sellers to use towards your closing costs or rate buy down.
Karen F.
LVP over very thin, hard carpet?
8 January 2025 | 3 replies
There are so many options for LVP now, from lower priced to higher.
Tobi Isaacs
Who can beat this HELOC?
9 January 2025 | 5 replies
You can theoretically have a higher rate from one lender with lower origination fees and total finance charges may come in lower.