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20 August 2024 | 40 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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17 August 2024 | 0 replies
In my city's codes and ordinances it states that one of the common rental property violations is having "over four unrelated individuals residing in a dwelling unit" would the dwelling unit be considered the entire house or just the part contained in the lease (aka the room)?
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17 August 2024 | 30 replies
“Business equity line of credit: Use Real Estate as Equity” up to $500k, interest only. gather your business and personal tax returns, financial statements, articles of incorporation and other legal documents.”Vectra Bank - ColoVeritex, TX HELOCWebster Bank, CT, RIWAFD Bank.
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16 August 2024 | 5 replies
It's certainly nice to have the input from individuals from within the industry.
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14 August 2024 | 3 replies
Instead of the typical 20-25% for DSCR loans, you and the seller can dictate the terms, even incorporating an equity-sharing agreement for added flexibility.
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16 August 2024 | 2 replies
For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.
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15 August 2024 | 18 replies
And inspections may have to be done for each individual contractor since they are responsible for their own work.
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15 August 2024 | 1 reply
What percentage of the time do individuals pay their taxes in the 1 year period?
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16 August 2024 | 6 replies
Neither involve any pitches or selling... just real estate minded individuals (investors of all levels - from want-to-be to seasoned professionals - realtors, service providers etc) that get together and discuss real estate investing.
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19 August 2024 | 52 replies
For those reasons, I will wait to listen to several episodes before deciding whether his particular style was a good move for this podcast or not.I also love David Greene and Rob Abasolo, as well as the way their individual styles complimented each other in the podcast format.