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26 November 2024 | 9 replies
Pictures in case helpful: https://drive.google.com/drive/folders/17QCEJmkm4IptwZTC7amR...If your return-on-investment numbers are that tight you shouldn’t be in the house.
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27 November 2024 | 48 replies
When it comes to choosing between a turnkey property and a fixer-upper using the BRRRR strategy, it really depends on various factors, including your market conditions and where you are in your investing journey.
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2 December 2024 | 21 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).
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26 November 2024 | 3 replies
However, if one property is overseas, there might be additional considerations to factor in.
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28 November 2024 | 4 replies
The city has good macro economic factors and a strong economy - I looked for cities that were at least better than the national average when it came to population growth, wage growth, median sales price growth, etc 2.
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25 November 2024 | 0 replies
This limited inventory will likely continue to drive prices upward.Sales - Median $/SF by MonthThe $/SF increased slightly MoM, bucking the seasonal trend.
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26 November 2024 | 14 replies
They have an app that you can run comps on, play with rehab budgets, do ARV calculations as you drive for dollars and apply for the loan on the spot.
25 November 2024 | 2 replies
Don’t know if vineyards have good ROI, but I do see several vineyards in southern Jersey when I drive in that part of the state.
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27 November 2024 | 8 replies
Yes, you do get income on the other side, but the prices have bumped up so with interest rates and less inventory to buy, the net income is much less than a few years ago.You can still do it, you just have to factor that in and expect negative cash flow while you live there and then see how good it will be when you leave in a year and do it again.
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1 December 2024 | 25 replies
Do you want it to be just a weekend drive away or are you comfortable with locations where you need to fly?