Host of the biggest and longest meeting real estate investor association in the Kansas City Metro, kinda not a Meetup - we have meetings but we have so much more.Join us on April 9th for our Next Meeting - find out what investors miss on inspections - our working title Don't Get Screwed by Missed Inspection Items on your Next Investment.  

With the outlined steps and strategies, you can overcome the fear and stress associated with finding tenants for your house hack.

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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Absolutely not and hence the hotel association is right to be concerned and demand that the government take preventative action.

You may have other non-financial costs associated with this type of property that compensate for the greater cash flow (e.g. additional risk, needy tenants, tenants whose priorities do not leave room for taking care of your property, etc.). 

This is gonna be one of the most important factors and you have little room for error as this is how you're going to get your ARV.Budget and Timeline - Present a budget detailing all anticipated costs associated with the project, including acquisition, renovation, carrying costs, and contingency funds.

Consider reaching out to the Texas Bar Association, local law schools, or your network for attorney recommendations.

Obviously, this can impact your overall cash flow. 6) it’s important to find an agent that knows the area well and understands how to work with an investor, as the process is very different than buying a primary residence. these are all things to consider, and there is going to be a learning curve associated with the process.

The HOA association put a lien on the property and it went up for foreclosure auction.

They tried to keep the money until I pointed it out being in the acceptance letter due to knowing the date closing was on. also take in account how long it would be for them to do the paperwork. it is the government associated program, so you know they like to take their time on paperwork.