
6 September 2024 | 9 replies
So it depends on the amount of the equipment.I have a CPA handling my taxes, and years ago, he set a $1,000 limit originally for deducting equipment which had been increasing over the years, so I no longer ask him annually.

5 September 2024 | 0 replies
More than two-thirds of family offices have been created since 2000 with the majority founded by original wealth creators, 30% serve second generation and 19% serve a third generation.

5 September 2024 | 2 replies
After paying closing costs, title fees, appraisal, origination, underwriting, processing, legal and other fees, the typical refinance costs about 1.75 - 2.5% of the loan amount just in closing costs (obviously before people yell at me, this varies drastically by state, but having done loans all over the country I find this to be a pretty accurate estimate). 2) Keeping the average 2% cost in mind and the fact that people typically refinance when rates drop about .75% - 1% or more, I wanted to see if paying an extra point now when I was already paying all the closing costs to buy the rate down made sense. 1 point can get you between .5% - .625% off the rate depending on the days pricing and the coupon you are pricing.

4 September 2024 | 7 replies
Property ARV: $450kTotal in: $350kMonthly rent: $4000Monthly taxes & insurance: $530[Loan 1] (via broker)75% LTV1.5% origination fee ($5062)Other fees: $1595 underwriting + $1295 processing (=$2890)Interest rate (floating): 7.25%5 years PPPMonthly P&I: $2,278Rent - PITI = $1,192***If appraisal comes back high enough, may be possible to do 80% LTV at 7.99%[Loan 2] (direct lender)70% LTVNO origination feeOther fees: $1,395 underwriting + $695 processing (=$2090)Interest rate (will not change): 7.375% 5 years PPPMonthly P&I: $2,152Rent - PITI = $1318---------------------------I really like how there's no origination fee with lender #2 so I get to keep more of the money I pull out.

5 September 2024 | 14 replies
I haven't met her yet, but can only expect a request to come out of this as well.At the end of the day, I want to address the basic needs of my tenants, but I can't help thinking that either that people got word of the original showerhead I replaced, or they're just taking advantage of the rent increase.

2 September 2024 | 24 replies
.- Our credit scores are both >800.My hubby and I have many family members and friends in other states who invest in rental properties.

1 September 2024 | 1 reply
The background check was clean, he had a good score and great income.
4 September 2024 | 12 replies
For this example, let's say you have completed renovations, your property is now worth $100k, and you took out a bridge loan to fund your original purchase and the rehab costs.

1 September 2024 | 8 replies
My credit score stands at 780.

5 September 2024 | 13 replies
You might also consider a reverse 1031 exchange, where you buy the replacement property before selling the original, allowing you to secure a better deal.