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19 October 2024 | 2 replies
The episode dropped recently on the BiggerPockets Real Estate Podcast and goes into how these design elements can give your property a competitive edge.If you’re working on a project or investment in Arizona and want some insight on how to approach renovations to maximize value, feel free to reach out.
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14 October 2024 | 2 replies
If anyone has any recommendations for an Architectural Designer or Structural Engineer who can help design and put the plans together that would be awesome.
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22 October 2024 | 14 replies
She can't afford rent, so you get her moved out by the end of the month, then apply her deposit to the unpaid rent, cleaning, and repairs.I may even incentivize her to leave quickly by offering to forgive the unpaid portion of rent if she gets out by the end of the month, but it really depends on a number of factors and I'm not going to ask for details.For future reference, best practice is to have set standards and adhere to them every time.
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24 October 2024 | 33 replies
HUD will only approve market rent and rent the tenant can afford which can be a limiting factor for you.
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23 October 2024 | 16 replies
Self-managing can be challenging or restricted, so be sure to factor that into your decision.
21 October 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 = 1.23If 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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17 October 2024 | 21 replies
I have had a design and import business for the last 3 years.
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21 October 2024 | 28 replies
Don't buy turnkey when they are already factoring all the headache cost to you, and there's no guarantee a future headache won't happen.Having a 5 year old, a W2 and living in Cali is nothing.
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23 October 2024 | 27 replies
Ensure the appraiser accounted for things like the square footage, recent improvements, location benefits, or other factors that impact value.
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18 October 2024 | 3 replies
Also, consider factoring in a conservative appreciation rate and double-checking your repair estimates.Hope this helps!