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15 December 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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13 December 2024 | 12 replies
Out of curiosity, what would you offer to make it more appealing if I did decide to offer with the financing contingency included?
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12 December 2024 | 6 replies
Market conditions also play a role, including the availability of contractors, appraisers, and lenders.
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11 December 2024 | 5 replies
I would keep and organize all of your communication around this issue, including gathering pictures of the unit and the area in question that was repaired.
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11 December 2024 | 0 replies
This could free up more cash flow to reinvest in your deals.But here’s where it gets interesting: making the transition to an S-Corp can require a more organized financial structure, which includes separating your accounts, keeping clean records, and being prepared to pay yourself a reasonable salary as the business owner.
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11 December 2024 | 8 replies
They often offer coaching programs that can guide you through the fix-and-flip process, including how to properly assess properties during walkthroughs.
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10 December 2024 | 4 replies
I have a title report from my lawyer, but it is somewhat confusing as the land has been subdivided (it started as 9 acres and is now 1.5) and has quite a few transactions - including to the county (I.e allowing the county to build a road).
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2 December 2024 | 2 replies
The analysis is targeted to small time DIY landlords with 1-5 properties with minimum requirements to be able to do the following tasks online: Listing/Syndication, Applications, Screenings, Leases with eSignature, Payment Customization (i.e.
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12 December 2024 | 2 replies
We are a team of five employees, and our work involves renting land for a number of years, designing and developing buildings, and managing them—including renting and maintenance.It’s an exciting yet challenging new chapter in my professional journey, and I’m eager to learn and grow alongside all of you.One of my key goals is to modernize our company’s workflow, which is currently reliant on traditional pen-and-paper methods.
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12 December 2024 | 13 replies
If you're licensed (or unlicensed) and are a principal in the transaction, you can use any form you wish but it is foolish to use a form that does not have the required notices included it. 3.