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5 January 2025 | 5 replies
Hi Rod, so would you say that as long as the property has the right insurance coverage that it should not be a problem?
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15 January 2025 | 8 replies
For rentals in an LLC, most lenders look at the cash flow of the property (aka DSC Ratio: Debt Service Coverage) and your credit score rather than your personal income.
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13 January 2025 | 15 replies
And to be honest if you could get some strong social media coverage (like hire someone that knows STR to market the property), you could do very well!
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30 December 2024 | 6 replies
I have a master policy with default coverage for all my renters.
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28 January 2025 | 29 replies
It can be different as there are coverages offered specifically for STRs.
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5 February 2025 | 205 replies
From media coverage and contributors on the forums, it looks like much of Cape Coral fared well (relatively speaking).
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6 January 2025 | 5 replies
Confirm with the solar company if the loan is transferable and review terms carefully—it’s a potential hurdle with lenders or resale.A DSCR (Debt Service Coverage Ratio) loan might be an option since you’re focused on rental income.
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9 January 2025 | 15 replies
If the ARV has risen to $260k and you’re renting it out for $2900/month, you can likely qualify for a higher loan amount.Here are some key points to consider:Loan-to-Value (LTV): A typical DSCR refinance will allow you to borrow up to 75-80% of the property’s ARV, so for a $260k property, you might qualify for a loan of $195k to $208k, which could help pull out most or all of your original investment.Debt Service Coverage Ratio (DSCR): Since you're renting for $2900/month, the loan payment will need to be covered comfortably by that rent.
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5 February 2025 | 56 replies
Your only option will be to find a job to supplement your diminishing ability to sustain your standard of living.The income must last throughout your lifetime.
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24 December 2024 | 1 reply
I just learned that builders risk and liability insurance coverage can cease once a CO is issued for a new build.