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30 July 2024 | 19 replies
So my initial HELOC I used (about 60k total used from my HELOC between the two rentals) to buy my first two rentals turned into 8 houses that cash flow me $6200/month after all my expenses now.
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30 July 2024 | 12 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.
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29 July 2024 | 4 replies
I know that asking for general figures to use for estimates is difficult, but I was hoping that there was some general guidance to use when doing a quick, initial pass, knowing that it could vary when really getting into the details and project.
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28 July 2024 | 5 replies
I was spoiled with my initial duplex and really had a great landlord experience.
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28 July 2024 | 7 replies
Initially, one of the most important pieces of information is the area rents.
29 July 2024 | 6 replies
To answer Bob's question, The verbage regarding tenant responsibility dispayed in my initial post is copied from the lease agreement signed by the teants.
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27 July 2024 | 7 replies
.), pertains to a mortgage-style process and necessitates the initiation of a standard civil action within the state court.
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28 July 2024 | 6 replies
As a Project Manager, when diving into a new initiative, I'd sit down with a project charter with our VP, and ask questions to gain a full understanding of the expectations of a project.
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28 July 2024 | 4 replies
I think it will be initiated at the state level and implemented in how courthouses record deeds, liens, judgements, etc.
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27 July 2024 | 2 replies
I may be able to assist in the initial zoning analysis and steer you in the right direction with my NYC connections to get the site developed.