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10 December 2024 | 17 replies
6 people aren't enough people to be worth saving?
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10 December 2024 | 26 replies
People selling courses often use newbies as ants so they save time in the case that the ant finds one deal out of 10,000 the course creator can partner with them on.
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5 December 2024 | 34 replies
The price to savings ratio, at least in the Northeast isn't there.
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9 December 2024 | 16 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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4 December 2024 | 37 replies
To Samia & the BiggerPockets Community,I have made every effort to resolve this situation amicably, but the other party has been consistently unreasonable and uncompromising.
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5 December 2024 | 2 replies
Aim for a 620+ credit score, save for a down payment, and research markets with strong rental demand.
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5 December 2024 | 5 replies
We have some cash savings in the ballpark of 10k ready to invest today not including emergency fund and other savings, but that number is growing thanks to a recent bump in income.Now for the pros.
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3 December 2024 | 15 replies
I have saved up 10k and plan to keep saving but I was wondering if there are ways that anyone has used this amount of money to get started in real estate?
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3 December 2024 | 1 reply
You could ask that they put a year or so of savings into a separate account on which you have view access or receive a monthly statement so you can see they have the ability to pay future rent.They aren't going to last without other income or savings with income at 1.25x rent.
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5 December 2024 | 25 replies
He already has a down payment saved up just needs a little bit of help getting the first deal to the finish line.