Sanjeev Advani
August 2024 Payroll Insights: Job Market Resilience Amid Economic Adjustments
16 September 2024 | 0 replies
Economists note that job growth in typically underreported industries fell by 42,000 compared to the 6-month average, suggesting August’s numbers may understate actual gains.Key Employment GainsConstruction: +34,000 jobs, driven by heavy civil engineering and nonresidential trade contractors.Healthcare: +31,000 jobs, though slower than the past year's monthly average of 60,000.Social Assistance: +13,000 jobs, with more modest growth compared to previous months.Other growing sectors include financial activities, wholesale trade, and government (+24,000 jobs).Job Losses and Sector StrugglesManufacturing: -24,000 jobs.Retail: -11,100 jobs.Temporary help employment continues to shrink, reflecting business uncertainty.Wage and Fed Policy ImplicationsWages rose by 0.4% in August, up 3.8% year-over-year, supporting a cautious approach by the Federal Reserve on deeper rate cuts.
Shai Simchon
Are the location of schools important in a fix & flip location?
18 September 2024 | 26 replies
@Shai Simchon, and I split the difference here: it matters, like many said, but it is also reflected in your ARV, typically.So, if you have to spend the same amount to buy and rehab a house, and the only option is better school or worse school, I would pick the better school every time, because the ARV is very likely to be better in the better school district, most of the time.
Chris Seveney
Significant Increase in Posts For Financing...
16 September 2024 | 43 replies
maybe - i think it's also probably just a reflection of the increase in home prices.
Marc Shin
looking at a Subject To deal in Texas
16 September 2024 | 5 replies
**Insurance Issues**: Ensure the property insurance policy is updated to reflect the change in ownership to protect both parties in case of damage.3.
Hares Najand
How to Split Water Bill for Duplex with Single Meter
16 September 2024 | 6 replies
While this might seem fair on the surface, it may not accurately reflect each tenant's actual water usage.Usage-Based Billing: Implementing a system where tenants are billed based on their actual water consumption could be fairer.
Travis Andres
Anyone do Grant Cardone Success System?
19 September 2024 | 34 replies
Remember, price does not always reflect value.
Andrina Maximin
Has anyone used a DSCR Loan, what are your experiences with loan product?
18 September 2024 | 15 replies
Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available
Tiffany Roberts
I hate my rentals- should I just sell and be done with this game?
17 September 2024 | 68 replies
And I just got kind of burnt out and I've never really gotten over that. all of them seem like they should cash flow but the reality is our business bank account never reflects that, but it could be bc we are constantly in the process of remodeling something, I'm actually not sure.
Matthew Irish-Jones
Cash is NOT King... in Real Estate Investing
21 September 2024 | 69 replies
Your price should reflect things gone wrong.
Nina Penuela
What do you think makes a good property manager?
14 September 2024 | 32 replies
I would also say everyone who works for the PM or in the office of a PM represents you so if they aren't competent that reflects on you.