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5 February 2025 | 22 replies
Not sure if they would consider that private information or not.
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17 February 2025 | 3 replies
Also, at this time I had seen properties selling for 10 – 20% over ask regularly.Interest Rate 30 year conventional 7%Homeowners Insurance = $1,000 annuallyRents = $1,800 per monthWhen I looked at those assumptions, I would need to put down $80,000 on this house to get it to hit my cashflow goal of $500 minimum per month which equates to 35% down.Total mortgage + escrow = $1,267.13 per month with rents at $1,800 my monthly cashflow is $532.87.From my experience, after taking out vacancy and maintenance costs you are left with around 73% of that total cashflow number once the rental is established.People have asked why a $500 per month cashflow goal.
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9 February 2025 | 1 reply
Another student rental that has a mortage of 900k me and my wife live here on a private floor. thrid property is also another rental ( duplex w a mortage of 390k ) was fully rented but tenant upstairs has moved out a year ago so I decided to renovated to do short term rental added in 2 ensuite rooms.
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15 February 2025 | 14 replies
If you are buying a buy and hold rental, do not pull a HELOC or you're paying a mortgage payment on the new property AND HELOC interest.
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7 February 2025 | 6 replies
If there are plenty of studios or private single rooms at the same price or cheaper than a shared-space room at your place, you will definitely have a hard time filling up.Are there extended-stay motels in your property's area?
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12 February 2025 | 3 replies
I’d rather not give up my current first mortgage rate to get cash out to renovate.
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22 February 2025 | 4 replies
Lenders are also usually using your middle mortgage FICO credit score.
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18 February 2025 | 14 replies
The cashflow should cove ALL of the expenses for the primary (mortgage, taxes, insurance, utilities, etc) AND put money in their pocket.
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17 February 2025 | 6 replies
Quote from @Jaren Taylor: Quote from @Chris Mason: If you have the ability to market and raise money, then you secure the down payment, and do the normal commercial mortgage process.
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15 February 2025 | 11 replies
maybe they would do a subject to and have you take over their mortgage payments - do they have a good interest rate?