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29 February 2024 | 2 replies
go to local REIA groups.Go on sites like propstream and look at who is funding fix and flippersgo to scotsman guide and American Association of PRivate lendersThere you will find people who may consider funding deals.The key to getting a deal funded today is:1.
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29 February 2024 | 6 replies
Understanding and taking advantage of the variety of tax credits boosts the return on your property and allows you to be part of the move to conserve our nation’s historic treasures.When rehabilitating or investing in the rehabilitation of an eligible historic or non-historic building, you may be able to take advantage of one or both of the historic tax credits: 1) Historic Tax Incentives and 2) Historic Preservation Tax CreditsYou can receive a federal income tax credit equal to 20% of the costs associated with rehabilitating the building.
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29 February 2024 | 10 replies
See example below: DSCR < 1 Principal + Interest = $1,700 Taxes = $350 Insurance = $100 Association Dues = $50 Total PITIA = $2200 Rent = $2000 DSCR = Rent/PITIA = 2000/2200 = 0.91 Since the DSCR is 0.91, we know the expenses are greater than the income of the property.
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29 February 2024 | 1 reply
Conduct thorough research: Since you won't have a real estate agent representing you, it's important to do your own research on the property, its value, the neighborhood, and any potential issues or liabilities associated with it.2.
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28 February 2024 | 1 reply
Tax considerations involve a lot of personal, specific considerations so you are on the right track going for a CPA (make sure they are familiar with income properties and short term rentals).STR is a business and involves "active" income versus "passive" income associated with typical long term rentals.A few general things:1.
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29 February 2024 | 4 replies
Considering that the back-end ratio needs to be roughly 36 percent in order to qualify for a loan, it seems that the mortgage costs associated with each newly purchased property should be 36% of the revenue generated by that property -- we might call this a 36% rule: mortgage cost / rental income = .36Please let me know -- is this feasible or advisable?
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1 March 2024 | 31 replies
This is just basic case law.A great example is the Indian Palms Country Club Association vs.
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29 February 2024 | 7 replies
When I referred to "Delayed financing" it was associated with (Not having a mortgage) which means both of the above carry (No recourse) or do not require a personal guarantee.There are more banks and lenders that offer non recourse then the ones on that list that offer financing in the US and globally.
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28 February 2024 | 7 replies
You can google the national gypsum association, USG, or UL listing for 1-hour rated assemblies.
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29 February 2024 | 9 replies
Otherwise, FHA allows college graduates to apply immediately upon employment, though there are some more fees associated with FHA and the mortgage insurance is for life.