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31 December 2024 | 66 replies
I dont allow tenants to move in without first month rent and security deposit paid by cashier check .
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7 January 2025 | 0 replies
Purchase price: $715,000 Cash invested: $297,000 Current Price: $830,000 (originally $950,000 on 4/13/2024, reduced by $120,000 in 6 months).
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7 January 2025 | 0 replies
I found it researching online after many months.
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26 December 2024 | 7 replies
I know of only one building that allows Mid-Term Rental 1 month or longer.
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13 January 2025 | 17 replies
I think many people tend to think about the monthly payment number and not about the interest rate.
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20 January 2025 | 23 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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6 January 2025 | 3 replies
All of that took about 6 months.
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6 January 2025 | 13 replies
Are there a decent amount coming on the market, or is there like 1 a month?
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10 January 2025 | 4 replies
BTW there is a free trial and the Starter monthly plan is $119.It also allows you to search through consumer information such as property owner "credit worthiness," Credit card usage, buying power, age, language, family members in the house, and many other fields that are above and beyond property characteristics, which is unique.
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9 January 2025 | 9 replies
Many lenders will allow you to do a BRRRR and take cash out, even without owning the property for 6 to 12 months.