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29 July 2024 | 6 replies
You also benefit from warranties that can reduce initial maintenance costs.
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29 July 2024 | 2 replies
A little over 400% ROI in 3 years (looking at initial investment only).
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29 July 2024 | 7 replies
I would contact your original lender initially, as well as to contact a local mortgage broker.
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29 July 2024 | 11 replies
The police department just posted on Nextdoor app that crime is down 29% in that area because of initiatives that they have implemented so now they will be implementing the same things in Capitol Heights.
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29 July 2024 | 0 replies
Immediate Cash Flow: As mentioned above, cost segregation accelerates the depreciation of your property in initial years following the study which increases the amount of available cash for the investor.
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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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27 July 2024 | 8 replies
However if you only invest it in training, then at the end you have lost $50,000 and still don't own anything.There are a lot less inexpensive ways to learn about real estate in my opinion.Don't fall for any high pressure techniques from any guru.....the typical scenario is to go to a free 2-3 hour training session.
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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.