And you've joined one of the best communities for all things real estate investing.1️⃣ Download this ultimate beginner’s guide: https://assets2.biggerpockets.com/uploads/user_file/file_object/1694/UBG_2018.pdf2️⃣ Read BP beginner books on investing: https://store.biggerpockets.co...Also, read Rich Dad, Poor Dad by Robert Kiyosaki and Think and Grow Rich by Napoleon Hill 3️⃣ Subscribe to BP podcasts or YouTube channel and watch their webinars. 4️⃣ Ask questions here on the forums.5️⃣ Visit (join) a local (and legit) real estate investment association.6️⃣ Consider joining a BP bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcampsI wish you all the best in your investing journey!

Understanding these key elements will empower you to navigate the refinancing process with confidence and achieve the best possible outcome for your financial situation.Calculating Refinancing Risks and Rewards: When considering refinancing, it's crucial to thoroughly evaluate the potential risks and rewards associated with this financial decision.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

If so, I'd suggest joining the local Real Estate Investors Association there; I am a member myself.

HELOCs and HELOANs do exist for rental, but with prime so high and secondary tier of LLPAs associated with these programs, you'll be above 10-11% all day.

Hi All, Chicago local realtor, architectural associate and investor, Michelle Simoni, nice to meet you!

There are different loan types for each strategy and thus different terms and conditions associated with each.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Arguably the entire purpose of having a RE License is to protect the right to commissions and the NAR's intent (National Association of Realtors) was to protect the right of brokers to this compensation.

I wouldn’t want to purchase or manage STR’s in an area that is unregulated because there is a higher risk associated with the laws changing and then you’re SOL with your investment….take NYC for example or Dallas.