20 December 2024 | 2 replies
I can come up with only about a third of the required down payment.
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22 December 2024 | 8 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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18 December 2024 | 4 replies
Just looking at their website, there is no useful or helpful information that a sophisticated investor would normally require (to even give them a chance of being considered).
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19 December 2024 | 55 replies
Unfortunately it’s an SEC requirement to be accredited for an investment filed under Rule 506(c) — which this investment is.
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20 December 2024 | 5 replies
Their strategy focused on targeting traveling nurses, a niche market with reliable demand.As for repeating the process in the same city, it's doable but requires careful planning.
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17 December 2024 | 8 replies
If you only have to resand the flooring and it's cheaper, maybe go with that instead,JC township will definitely require permits for plumbing, electrical, gas lines.
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18 December 2024 | 6 replies
They usually require experience and they are lots of docs needed from architect drawings to a lot of permitting.
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17 December 2024 | 2 replies
As far as capital, most investment loans would require you to do 20-25% on a SFH.
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18 December 2024 | 13 replies
Anyway, there kind of things can get messy if they go before a judge, so if it were me, I would just give her formal notice of termination NOW (allowing for the required days of notice per lease).
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20 December 2024 | 3 replies
Of course if you are required to pay off the 2% mortgage then your cash on cash ROI goes way down, but with a 30% equity cushion you’re still way ahead.I really dislike contractor for deed, lease option, or not recording warranty deed as “solutions” for the due on sale clause.