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27 January 2025 | 3 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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30 January 2025 | 34 replies
Just because they included that clause in their contract doesn't make it enforceable.
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6 February 2025 | 13 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.
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2 February 2025 | 22 replies
I immediately called Financial Freedom they explained that the $200 was for their "pay -site" which includes a free weekly conference call, etc.
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26 January 2025 | 4 replies
It would cost me only $2300 per month which includes rent utilities furnishing and property management. she showed me one example only of a customer who profited greatly.
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17 January 2025 | 3 replies
Please advise.ThanksMel I'd recommend a local Independent Agency that has access to multiple markets including surplus lines
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6 February 2025 | 6 replies
In addition to the different tracks @Chris Seveney descrubed, there is also good information on creative financing and seller financing (including what to avoid).
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5 February 2025 | 8 replies
Penalties of these Federal charges may include:30 years in prisonUp to $1 million in finesThey have a "statute of limitations" - (with a third "T" ;-) of 10 years from the date of the transaction - 10 years from now, you could get a very nasty call and hopefully, you put your reserve money in a good account that grew to cover legal expenses**********************************************And the universe could blow up as Doc says in Back to the Future " But, granted, that's the worse case scenario."
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15 January 2025 | 10 replies
It may be easier to include utilities in the rent.
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1 February 2025 | 16 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).