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20 November 2024 | 45 replies
I think it would help as it would save consumers up front closing cost and a pretty significant amount of them..
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20 November 2024 | 15 replies
But still, preparing maybe 10% of the property value saving for fixing and vacancy will be a good idea.
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19 November 2024 | 12 replies
I just may have a time where savings from one LLC need to be moved to the other LLC.
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22 November 2024 | 28 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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19 November 2024 | 14 replies
If you do cleaning yourself, you save on the largest expenses but also limit your ability to scale.
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20 November 2024 | 37 replies
You can save 10-12 percent right there.
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21 November 2024 | 10 replies
Had I done that 10 months earlier, I would have saved tens of thousands of dollars, despite the flight costs.
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18 November 2024 | 11 replies
They also likely save you time.You can certainly still buy in DFW for $400K and maybe as low as $250K depending on where you want to buy.
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19 November 2024 | 8 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).
15 November 2024 | 14 replies
I will be increasing my savings amount to reflect as well.