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28 December 2024 | 23 replies
I work a lot, probably more than the average W2, but we also travel a lot, at least 6 trips every year.So that's what's driving me, numbers on a screen are nice, but they are not fulfilling on a personal level.
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28 December 2024 | 6 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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31 December 2024 | 13 replies
After 20 years in the investing game, plus working as an investor-friendly agent, I’ve learned that hesitation can feel like a big hurdle but often ends up being the push you need once you break through it.I’m personally based in San Diego, California, and licensed here, but I’ve also looked into projects across the country with folks who sought better cash flow.
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25 December 2024 | 12 replies
In my lease, rent is due on the 1st and late on the 6th (and I file eviction on the 10th).
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27 December 2024 | 3 replies
Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.
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27 December 2024 | 2 replies
This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.
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25 December 2024 | 2 replies
I have not been able to find any in person networking events in my area doing a basic internet search.
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29 December 2024 | 8 replies
Also I'm fully funding the deal with personal CASH.
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26 December 2024 | 2 replies
While there are definitely benefits to running a fund, it's tough to achieve success with funds as a beginner because oftentimes investors are attracted to the track record of the person or team running the fund.
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26 December 2024 | 6 replies
Personally I use RentRedi (free with BP Pro) for management and Zillow for applications and screening.