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18 December 2024 | 13 replies
By posting a notice, you maintain control while ensuring expectations are clear and legal.By the way, I don't recommend an exact 30-day notice and then dealing with prorated rent.
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19 December 2024 | 4 replies
If so, any recommendations on brokers that would be willing to partner on something like this?
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17 December 2024 | 11 replies
Does anyone have one they recommend?
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17 December 2024 | 8 replies
I'd recommend a project manager or architect if your budget can afford one.
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19 December 2024 | 12 replies
I'm open to any advice and resources you'd recommend for beginners.
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20 December 2024 | 2 replies
Buyer-paid real estate agent commission (Yes, I recommend buyers have their own buyer's agents.
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18 December 2024 | 9 replies
In other words, how aggressive are you in recommending things like: "Hey mr.
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22 December 2024 | 8 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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20 December 2024 | 5 replies
However, I'd recommend discussing this with a knowledgeable mortgage broker to confirm the specfic terms based on your lender's guidelines.I once worked with a client who had a similar idea in San Diego.
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23 December 2024 | 15 replies
I would recommend looking through in DSCR loans.