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16 December 2024 | 17 replies
Lot rent is $365 and includes water.
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23 December 2024 | 24 replies
Last, you can do an unlimited amount of repairs to a home using a 203k renovation loan (up to the FHA loan limit), including knocking down the house and building a new home!
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15 December 2024 | 15 replies
Quote from @Collin Hays: I don't manage short-term any more, but can't you include this in a written rental agreement that the guest signs at the time of booking?
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15 December 2024 | 4 replies
Apply the 70% rule to determine your maximum allowable offer, then negotiate and get the property under contract, ensuring your agreement includes inspection and financing contingencies.Arrange professional inspections to uncover any unforeseen issues, using these findings to negotiate concessions or confirm your repair budget.
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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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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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15 December 2024 | 13 replies
Again, not unless its actually that your gross income (including cleaning fees) is 100k a year and your gross rents are actually only 75k.
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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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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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14 December 2024 | 5 replies
My aspirations include becoming a real estate developer, so I want to learn as much as I can.