
26 September 2024 | 14 replies
I am curious to know if the proximity to Pennsylvania itself is a crucial factor in renting out the property, or if it would be equally viable to invest in an area further away from the city (with a 1-hour commute time, as opposed to a 30-minute train ride from Haverford).I would greatly appreciate if anyone could provide information on the actual rental prices for an average 3-bedroom house in these areas.

24 September 2024 | 7 replies
Your focus on location and terms over price resonates, these are often the most important factors for long-term success, and it’s clear you’ve mastered that.I also appreciate how you made small improvements while living in the properties to increase their appeal as rentals.

26 September 2024 | 7 replies
It's important to factor in HOA fees, which can eat into your cash flow, and to carefully look over the rules set by the association, some have strict rules on rentals.

26 September 2024 | 17 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).
26 September 2024 | 1 reply
These factors minimize your risk and ensure that you have an investment, not just a rental.

25 September 2024 | 12 replies
I was worried that the same home would be a competiting comp when it came time to sell but maybe that won't be a factor considering the amount of work we have done.

26 September 2024 | 7 replies
But it all really depends on LTV, credit score, and a handful of other factors.

27 September 2024 | 9 replies
We had factored the cost of the repair into our original offering price and the seller was unwilling to negotiate further.
28 September 2024 | 19 replies
Thus conveying any 1 said property to a specific person/entity for utilization but retaining asset in a trust for various factors.

24 September 2024 | 49 replies
People have been finding legal ways to do things that are not morally right forever.