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8 December 2024 | 19 replies
Im not sure I understand why its an issue that it was not included in the estimate for the loan.
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10 December 2024 | 11 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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9 December 2024 | 21 replies
This property will not compete with hotels is what I thought We just book multiple rooms next to each other to take advantage of the included Disney transportation.
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3 December 2024 | 8 replies
Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.
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11 December 2024 | 101 replies
If history is any guide, it won't happen and it is in nobody's interest (including the cartels).
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7 December 2024 | 1 reply
As of December 2024, the average cost to install a solar panel system in California is $2.31 per watt, including installation.
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9 December 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).
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7 December 2024 | 2 replies
While showing one of the newly vacated units to a potential renter, he informed me that he was displaced because of the hurricanes, and that FEMA was providing him with assistance for moving, including paying his security deposit, rent, and moving costs.
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1 December 2024 | 4 replies
If you buy with a tenant in place, you save yourself the hassle of paperwork and inspections upfront, but you miss the chance to screen the tenant yourself—which can be risky.
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6 December 2024 | 4 replies
I am expanded my door knocking operation to include other people within my company.