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18 April 2024 | 8 replies
I have a couple of associates that are available to offer the funding to do a flip I have in mind.
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19 April 2024 | 20 replies
One thing to be aware of, especially in Ohio, is the prepayment penalty typically associated with these types of loans.
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19 April 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.
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18 April 2024 | 16 replies
Now that you own THAT building, at THAT location, it might be time to do the "networking fluff" associated with being a "pillar of the local community."
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18 April 2024 | 1 reply
I had the privilege of attending the House subcommittee meeting reviewing the package of bills this week; there were about 30 folks representing a number of towns and associations in attendance to testify for or against the bills.
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18 April 2024 | 5 replies
HELOCS do exist for rental properties but you are usually capped at 65-70ltv and these will most likely require a full underwrite that takes into consideration taxes, income, dti and all the normal quasi-associated red tape.
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18 April 2024 | 3 replies
If you didn't report your expenses for furnishing, repair, and renovation on your 2023 tax return, you may still be able to claim those expenses in the future when you generate rental income from your property.When you do start earning rental income and need to report it on your tax return, you can deduct eligible expenses associated with renting out your property, including the costs of furnishing, repair, and renovation.
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18 April 2024 | 1 reply
Your local realtor association will likely have data on their website.
18 April 2024 | 41 replies
Each unit requires an associated amount of effort.
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17 April 2024 | 3 replies
Here is a link to the Comptroller's guide to the non-resident withholding, which may have answers to your questions: https://www.marylandtaxes.gov/forms/current_forms/withholdin...If link doesn't work the document is called "MARYLAND'S WITHHOLDING REQUIREMENTS for Sales or Transfers of Real Property and Associated Personal Property by Nonresidents" which you should be able to Google.Good luck.