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1 October 2024 | 1 reply
Hi Chase,I'd recommend leveraging your experience with a lender and utilizing seller financing options.
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2 October 2024 | 11 replies
https://www.biggerpockets.com/...12 Frequently Asked Questions (And Answers) About DSCR Loanshttps://www.biggerpockets.com/...8 More Commonly Asked Questions and Answers to DSCR Loanshttps://www.biggerpockets.com/blog/eight-questions-and-answe...What Documents Do You Need for a DSCR Loan?
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2 October 2024 | 13 replies
You should utilize resources like BiggerPockets, build a team, and use online platforms to find potential properties.
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1 October 2024 | 15 replies
Put locks on each bedroom door so individual tenants have security of their personal belongings.You need a really good set of rules regarding shared common space, cleaning, kitchen use, bathroom use, etc.Be very clear about the rules up front, and selective about who you put in there.
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30 September 2024 | 6 replies
@Sanjeev AdvaniTo me this is a common sense law as good landlords already do this.
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1 October 2024 | 13 replies
You can then find a multi unit that at least has one vacant unit so you can utilize your VA loan.
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7 October 2024 | 35 replies
You have to audit all of their accounting because inevitably late fees will change every statement, utilities are sometimes billed back (or not at all), and god speed if you have a delinquent tenant.
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30 September 2024 | 15 replies
I do not have a sheet but I typically budget $150 for lawn, $150 for pool if applicable, $100 for cable, $100 for water, $300 a month for electric (depending on property size and your local utility costs), $50 for pest control, and another $200 per month in misc.
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4 October 2024 | 10 replies
You would then do the math to remove that exemption and see what the resulting yearly tax amount would be.Since it's your first time being a landlord, it might make sense to utilize a property management company or agent to find and screen a good tenant.
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1 October 2024 | 1 reply
Not sure if you have a direct question, but reading the questions between the lines on when a property is actually considered to be in service.Facts and circumstances.Generally for a rental property it is "in service" when it is "ready and available for rent" - meaning you are marketing it for rent, and a tenant could utilize a property that day.