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13 November 2024 | 24 replies
Quick response and a fair cash-for-keys offer is still the fastest and least expensive way to get someone out who isn't paying.
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12 November 2024 | 18 replies
@Josh R. there is another option, one that would raise you're ROI too infinite, eliminate that finance rate too 0%, and via reduction in $-expense, increase cash-flow.
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13 November 2024 | 5 replies
I just consider it my expensive education.
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14 November 2024 | 22 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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13 November 2024 | 23 replies
For flipping, I focus on the after-repair value (ARV), renovation costs, and potential profit margins—usually aiming for a 20-25% return after all expenses.
12 November 2024 | 2 replies
Even smaller chance you recoup expenses via collections.
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13 November 2024 | 8 replies
One thing that might help is building the cost of that deep clean into the lease or setting a minimum stay to offset expenses.
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13 November 2024 | 34 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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11 November 2024 | 8 replies
From page 730 (emphasis mine): "All non-business tax deductions and exemptions that were temporarily suspended by the 2017 tax bill should be permanently repealed, including the bicyclecommuting expense exclusion, non-military moving expense deductions, and the miscellaneous itemized deductions.23 The individual state and local tax deduction, which was temporarily capped at $10,000, should be fully repealed.