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19 February 2025 | 10 replies
I am particularly interested in turnkey properties and single-family rentals, but I am also open to exploring other options, including duplexes and different investment strategies.
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14 February 2025 | 10 replies
My university had resources for parents and alumni which included where to stay and info about the local area so you can try connecting directly with the school.
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23 February 2025 | 5 replies
That's including high Baltimore property taxes, expenses, mortgage, etc.
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20 February 2025 | 10 replies
Buy box: Location: Approx. 30 min drive to Boston Heights, for workNeighborhoods: Decent walkability score - not far from shops/restaurants/trendy neighborhoodsIdeal tenants: Close to hospitals/universities/schools for professionals/students/familiesBudget: $175-250K - Buying w/conventional loan, 5% down/ approx 20K reno.Property type: MFH 2-4 units - preferably side-by-side, with a yard we can fence for our dogUnits: 3+/1+ - better if 1.5/2 bath per unitTimeline: Plan to live there for 2 years, but possibly only 1 year if we find another investment opportunityGoal: Focus on appreciation - would like to see cash flow in year 2-3 (the year we move out), including overhead (Vacancies, Maintenance, Utilities) and budgeting in PM if eventually we don't manage ourselvesValue add: Opportunity for some forced appreciation, but not a full reno - cosmetic upgrades and updating kitchens/baths while we live in one unit.
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21 February 2025 | 27 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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23 February 2025 | 3 replies
I already have proof of concept in Raleigh as Ive talked to multiple people (including the agent Im working with there) saying airbnb-ing rooms is a cash cow there.
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16 February 2025 | 1 reply
Includes a single family home (4 br) which was divided in two sections one of which is being rented.
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4 February 2025 | 6 replies
One challenge to manage is being able to clarify for lenders on those rentals (if you have them) which amount of the premium should be paid for each rental so that they do not include the entire premium into their escrow analysis, inflating your monthly payment on that rental.
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12 February 2025 | 2 replies
I posted it on RentRedi who cross posts it on multiple sites including realtor and Zillow.
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13 February 2025 | 1 reply
If they are putting the property in major outlets including WSJ, NYT and sharing the property all over then sometimes its better to pay an extra point, but the 6% is for both buyer and seller.