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12 December 2024 | 6 replies
You may need to disclose that you repaired this to buyers and want to include more detailed information about what was done.
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15 December 2024 | 9 replies
My prediction that these "bans" and regulations are all going to pretty much converge into reasonable middle ground regulations (mostly including taxes fees) is still looking very good.
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15 December 2024 | 14 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.
12 December 2024 | 4 replies
However, the price would include the 7 duplexes, 2500 sqft Single family, and an additional 3.5 acres of vacant land attached, all located less than 1 mile from High Point University.
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12 December 2024 | 6 replies
Yes - you should budget all the associated "costs" with the rehab including renovation costs, holding costs, selling costs, etc.
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12 December 2024 | 5 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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13 December 2024 | 12 replies
Out of curiosity, what would you offer to make it more appealing if I did decide to offer with the financing contingency included?
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11 December 2024 | 4 replies
After the tenant moves out, we send someone to inspect the property for any damages, including furnishings like a broken vase.
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11 December 2024 | 8 replies
The loans are fixed rate programs, and the additional renovation financing is included into the one loan.
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9 December 2024 | 8 replies
I am doing this now and included Seller's transfer tax.