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17 November 2024 | 8 replies
These days, I'm only doing 1-yr prepay DSCR loans anyway because I expect rates to go down to where I'd want to refinance within 2 years.The other thing I did was beef up the monthly rent so that I could better qualify for the DSCR loan (but you need to use a lender that uses actual rents instead of market rents).
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16 November 2024 | 5 replies
That is to be expected and it usually falls within the acceptable rate at the time.
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18 November 2024 | 11 replies
Austin has become a pricier market, so seeing BRRRR-ready properties in the $250K+ range is expected here.
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23 November 2024 | 38 replies
Here's some other copy & paste advice you might find useful:---------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?
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17 November 2024 | 18 replies
One of the most important things you can do is set expectations.
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18 November 2024 | 11 replies
If they're late multiple times and or declared bankruptcy, then I would expect them to continue, unless they can provide some clear explanation.If you're having problems renting, it is either a pricing, condition or marketing issueGood luckGino
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14 November 2024 | 10 replies
If you've done a cost seg before and have broken out your property into 1245 and 1250 property, it would be best to be thoughtful of your replacement property to ensure you'll get full deferral.
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18 November 2024 | 9 replies
Your number two is a bit different than what to expect on a short-term rental play.
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15 November 2024 | 10 replies
@Kenneth P FordRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
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17 November 2024 | 16 replies
This is all public data, except for the rentometer estimated rents (which you should expect to mark up for being fully-furnished).