
28 May 2024 | 25 replies
Second is to contact a title company and ask them to confirm who is the recorded owner of the property.

27 May 2024 | 2 replies
It makes it difficult to do simple maintenance, repairs, cleaning, etc.If you don't have a ton of reserves, I always think it's a good rule of thumb to have between 4-6 months mortgage in savings as you're trying to figure out a rhythm.

27 May 2024 | 14 replies
@Henry Lazerow I can confirm.

27 May 2024 | 4 replies
There could be 30 named storms but if all bank right and head north in the Atlantic avoiding land then beach erosion and canceled reservations along the Atlantic Coast will be the worse of it.

27 May 2024 | 9 replies
Confirming they were originally asking 350 and you offered 430K?

27 May 2024 | 2 replies
To get to the bottom of it, I found a cute community in Princeton Dallas and I need your guys' advices to confirm if im on the right track and if this small town is indeed a great option for a starting investor and has a great potential in rental cash flow and home appreciation.

28 May 2024 | 15 replies
make sure you have cash reserves. as soon as you sign, you could give them a 60 day notice of rent increases. documentation of the owners lease agreements with each tenant & rental payment history. you could sign a 6 month lease with everyone to see how things go. licensed & bonded contractors, someone who can take accountability- you can send an email too if something goes wrong (the boss).

27 May 2024 | 11 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).

27 May 2024 | 2 replies
If mixed in with your deposits and reserve funds, you may accidentally spend money you shouldn't have.