24 April 2024 | 7 replies
Many residential DSCR programs would like the property to be leased to an individual using it for long-term rental purposes.
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25 April 2024 | 9 replies
This is something that will be determined on a case by case basis by individual lenders.
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24 April 2024 | 3 replies
Quote from @Raj Patel: Added commentsMixed Use: - Longer vacancy times - To get a tenant, you may pay a LOT in TI (Tenant Improvements) - You may be less likely to get in a lawsuit, but if you do get into one, you may be in a fight with a sophisticated business owner, not an unsophisticated individual.
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24 April 2024 | 39 replies
Any recommendations on realtors, wholesalers and other individuals that know the Milwaukee market are greatly appreciated.
23 April 2024 | 3 replies
So the mortgage listed individual partners (SSN) as the borrowers.
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24 April 2024 | 5 replies
Additionally, there may be limitations on rent increases and lease terms when renting to CMHA tenants.Ultimately, the decision to rent to CMHA tenants depends on your individual preferences, risk tolerance, and investment goals.
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24 April 2024 | 9 replies
Because both of those are affected by different metrics which you need to essentially measure each one individually before you can really come up with a good decision.
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24 April 2024 | 36 replies
For future, never close on a property and allow the individual to remain in the propertyI won’t close unless I do an inspection and house is in condition per the offer.
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24 April 2024 | 7 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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25 April 2024 | 82 replies
Really top notch individual!