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9 December 2024 | 11 replies
This will have a higher expense buy may very well be worth it for your listings and companies health and growth.
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4 December 2024 | 32 replies
I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.However, and this is where I start overthinking, I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal.
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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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5 December 2024 | 6 replies
I wouldn't consider a SFR to be a mistake if the rent can cover the expenses.
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5 December 2024 | 34 replies
BUT for certain rural areas it's worth it's weight in gold because of the reliability factor vs an unreliable or expensive existing utility structure.
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6 December 2024 | 45 replies
For illustration purposes, the investor with engineering and/or construction background may excel building in a market where there is ease in doing business and can build efficiently whereas the doctor may have greater success in the established market where significant barriers already exist but can afford the entry price and can ride the waive of continued appreciation and offset their high salary by depreciating the expensive building they acquired.
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9 December 2024 | 16 replies
But if you find the right builder, having a new construction cabin is so much better for rent and to limit expenses, its well worth it.
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4 December 2024 | 25 replies
The one area where this could be a little more expensive is if they also replaces the shutoff valve for the toilet.
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5 December 2024 | 6 replies
HOWEVER, very important to understand is that these 3 month seasoning products are VERY expensive.
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7 December 2024 | 15 replies
I still use Excel for some things managing 65 units and having expensive softwares.