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29 June 2024 | 20 replies
@Kerry Noble Jr That's what I did for my initial inspiration actually!
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29 June 2024 | 4 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.This example shows that 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 June 2024 | 8 replies
The other primary time requirement is tenant interviews and screening; which I feel could also be out sourced with a pre-made script (at least the initial phase of tenant screening).
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28 June 2024 | 4 replies
Next, I **Refinanced** the property, pulling out the increased equity to recover my initial investment.
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1 July 2024 | 58 replies
When they don't know you, I've found they sometimes submit absurdly high initial bids.Last week, I needed a last minute guy to do some work that had lingered (my fault mostly) on a project.
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29 June 2024 | 9 replies
First, most attorneys will be familiar with short sales and working through the purchase of properties where the foreclosure process has been initiated.
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30 June 2024 | 54 replies
I don't think if rates dip we see take off, I think we see a furious initial uptick but it'll actually be flat to a net asset value decrease over a prolonged period such as 12-18 months.
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27 June 2024 | 6 replies
I have my full VA loan to utilize to initiate my investment goal pursuit.
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27 June 2024 | 4 replies
We should catch up soon but here's an initial thought I had when I first read this.
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28 June 2024 | 12 replies
I think you will find once you get over the initial “doing something for the first time” jitters that managing your own properties is pretty easy overall.