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7 January 2025 | 12 replies
There are two large community pools, which are heated during the cooler months, tennis and pickle ball courts.The minimum STR period has been reduced from a year to six months.
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6 January 2025 | 5 replies
All things being equal, I would accept these applicants, but I would require them to pay a deposit equal to two months of rent.
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14 January 2025 | 10 replies
I agree with everything in this post and if it was a month ago I may have agreed with everything in this post (and I gave it an up vote).
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20 December 2024 | 3 replies
@Clare Pitcher we do 12+ month leases to avoid vacancies Nov-Feb.If we take over an occupied property, evict or have tenancy-abandon a property, we first let the owner know finding a tenant will take longer than "normal".This opens up owners to understanding they may need to:1) Offer 3D tour and floor plans to stand out2) Price more aggressively or be prepared for aggressive price reductions3) Offer MoveIn Specials:- NOTE: we do NOT recommend offering a month of free rent that can be used at MoveIn.
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11 January 2025 | 2 replies
The truly tragic natural disasters in California, North Carolina, Florida and others of the past six months are evidence that no location is truly 'climate safe,' however there are geographical areas that can expect less weather extremes and lower costs of living, developing, insuring and seemingly...surviving.
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20 January 2025 | 23 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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23 December 2024 | 20 replies
1) As an agent put 3 more under contract this month for going into 20252) Cut internet and car insurance bill down3) Start prepping for tax time, organize expenses yay lol
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17 January 2025 | 19 replies
My SBLOC requires that I pay it down to $0 once a year and keep it at $0 for one whole month.
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7 January 2025 | 5 replies
Have we tried asking him if he is interested in steady monthly income backed by real estate?
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10 January 2025 | 2 replies
I am a buyer - my buy box is 200k ARV, all in $150k after repairs, rents for $2000 per month.