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10 December 2024 | 11 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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11 December 2024 | 8 replies
Or find a local design firm that has done cabins where they can show you proven rent results from cabins they've designed and have them charge you by the hour.
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9 December 2024 | 3 replies
Be sure to run numbers with both a local lender and a national one to compare terms-sometimes smaller local firms can surprise you.HOAs: Brickell condos often have HOA fees, which can eat into your cash flow.
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10 December 2024 | 9 replies
Ultimately, you want to be fair and firm.
10 December 2024 | 2 replies
Again PMI offers the lower rate because its less risky and offers insurance to the bank.So when you sell your current home try and keep as much as possible and avoid an "All Cash" offer.
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16 December 2024 | 8 replies
First and foremost, I'm in Minneapolis / Saint Paul, so I'd like to know if you have any suggestions for 1) what investor meetups I should attend, and 2) recommendations for building my team (CPA, real estate lawyer, handyman / contractor, insurance broker, and agent (I have one but they don't seem to have much investing experience)).
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10 December 2024 | 100 replies
We just need to figure out how.I’d urge you to look at the insurance business, which has a great deal in common with real estate.
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12 December 2024 | 6 replies
Or if your not doing too much volume he can buy/partner in his personal name and get good liability insurance.
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10 December 2024 | 6 replies
The only way to answer that in general (whether house hacking in today's market is still a good option) or for a particular property, is to learn how to run the numbers and analyze a specific property to see whether it will be able to stand on its own as an investment when you move out someday.There are a lot of resources here on BP for doing that but I'd just say, make sure the assumptions you're putting into your spreadsheet or deal analyzer are realistic.Make sure the rents (especially for vacant units or pro-forma #s) are realistic by doing your own rent comps; make sure the mortgage rate is realistic by doing some research online and/or talking to some mortgage folks; make sure insurance #s are realistic by getting a couple of quotes for the # of units and zip code / area you're looking in; etc.I hope that helps, and good luck 😊
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10 December 2024 | 36 replies
These companies do NOT have their own money they all tie into Large hedgefund or insurance company LOC's that can change on a whim and you know sheeet flows down hill.