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28 August 2024 | 18 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.
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28 August 2024 | 0 replies
Despite declining sales and increased competition, Macy's real estate assets are proving valuable, particularly as U.S. retail vacancy rates remain low.Macy's has already sold a Miami property for $36 million and expects to generate $115 million in asset-sale gains this year.
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29 August 2024 | 10 replies
Mobile homes can generate solid returns without needing to finance or deal with extensive renovations.
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26 August 2024 | 3 replies
I used to use ispeedtolead. I would get about 20 leads daily and about 1% of those would lead to a property closing out. I'm looking for the a platform similar to this, where I can get daily leads, and a deal where ev...
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27 August 2024 | 6 replies
Here is one template that might generate some ideas;Deal- Property Type- Property Location- Market Metrics (as @Joseph Firmin mentioned above)- Scope of Work (both what qualitatively will be done and the corresponding $ amounts)- Exit Strategy (Sale, Refi)Borrower(s)- Borrower(s) experience (focus on relevant project experience)- Personal financials (as @Joseph Firmin mentioned above)- Additional info
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27 August 2024 | 2 replies
Although I haven't yet used my website to market listings, my consultant has mentioned ways to generate traffic to your site using specific keywords and running ads to listings on your site.If I get any feedback, I will share it here or PM you!
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29 August 2024 | 13 replies
So it's just extremely unlikely that you'll be able to generate a return that would justify paying the taxes in 1 or offsetting the interest you'd pay in 3.If you save up and buy a traditional LTR at or above the median price, you'll likely be break even or negative.
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27 August 2024 | 0 replies
Once I move out the entire property will generate $3570/month in rents.
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27 August 2024 | 8 replies
Maybe it's a way to build generational wealth by having a tenant pay down the principal every month?
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28 August 2024 | 9 replies
Great discussion you generated here for those looking to learn more about cash-out refinances.