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22 December 2024 | 23 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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16 December 2024 | 3 replies
Contractually, I'm sure I'll be on the hook for something based on their PM favored literature, but can I contest that they have done absolutely nothing for me, including not paying me as my defense?
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19 December 2024 | 22 replies
In the spring you can list it for market rate and have better marketing/screening strategies in place.HOW TO SCREEN APPLICANTSI recommend you include some of your key qualification criteria in the advertisement.
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14 December 2024 | 5 replies
My aspirations include becoming a real estate developer, so I want to learn as much as I can.
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16 December 2024 | 2 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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18 December 2024 | 6 replies
I need advice for creating the lease to include guidelines and wording on sharing responsibilities in the common areas.
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16 December 2024 | 2 replies
These are the different properties that are included in the 1031 exchange requirement: commercial buildings such as offices, schools and different establishments that are important for the population, as well as single family rentals, multi family rentals, industrial facilities, and even raw lands are included in the like-kind.
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15 December 2024 | 38 replies
Hi JamieAre there any specific areas/markets where you will work with investors to include additional properties as part of your inventory?
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16 December 2024 | 6 replies
@Sam Dal Passive activity gains, such as those from a sold multi-family investment, can only be offset by passive losses, including accumulated ones from prior years.
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18 December 2024 | 23 replies
Make sure to also include in your calculation all the associated costs of those homes (maintenance, cap-x, management, vacancy, etc) then include the selling cost of the home since the appreciation isn't unlocked until you sell the home.