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24 April 2024 | 16 replies
You simply identify which property it is associated with and what it's for.
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26 April 2024 | 44 replies
You and everyone else are obviously free to choose who they like, dont like, want to, dont want to do business with or be associated with.All I am saying is that what I like about them (everyone is entitled to agree/disagree) is that with the volume of members that the vendors have access to is substantial.
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26 April 2024 | 40 replies
It started with a call from an associate who had once worked with me, he had some gig converting old giant homes into multis for an investor group, some rag tag group out of Vegas.
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23 April 2024 | 7 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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26 April 2024 | 52 replies
Both carry risks (obviously greater risks associated with the larger scopes of work completed without permits).
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23 April 2024 | 9 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.
23 April 2024 | 8 replies
Here are some steps and considerations to help you make an informed decision:Evaluate Cash Flow: Create a detailed spreadsheet that outlines all income and expenses associated with the property.
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26 April 2024 | 47 replies
Why would you want to associate with them.
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23 April 2024 | 4 replies
Raymond, Go to your local REIA (Real Estate Investors Association) with handouts (color works best) about your deal.
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24 April 2024 | 18 replies
@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.