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19 October 2024 | 30 replies
@Joseph Braunthis is not unique to Baltimore, i think this is a feature of many cities, including most rust belt cities.
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20 October 2024 | 13 replies
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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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19 October 2024 | 11 replies
There are many many investors on BP who invest remotely, including newbies.
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21 October 2024 | 25 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.
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21 October 2024 | 18 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.
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18 October 2024 | 6 replies
I certainly won't hold anyone to anything, but could either of you venture a guess as to what the actual net profit after all taxes (including cap gains, depreciation recapture, etc) would be on a 100k investment with total gross return of 193k on an income of 50k?
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18 October 2024 | 7 replies
Is the Turbo Tax software a reliable option for doing taxes that include real estate investments, out of state, personal?
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19 October 2024 | 7 replies
It also included storing the items.
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19 October 2024 | 7 replies
Everyone will have opinions of what should and shouldn't be included.