Amanda Long
DSCR New Mexico Property/ Guarantors??
17 January 2025 | 3 replies
DSCR loans typically take 21 days to close.
Jason Sung
Water leak at a bathroom and insurance claim (Safeco)
15 January 2025 | 6 replies
Insurance typically covers only the directly damaged area, not undamaged flooring, even if it's continuous.
David Ivy
Austin Market Report - December 2024
18 January 2025 | 1 reply
For example, a buyer putting 20% down on a $500k home would pay around $500k in interest over the 30-year life of a typical mortgage at a rate around 6.5%.
John Winters
Is This Plan Financially Feasible? Northeast Multi-Family, then Move South?
29 January 2025 | 5 replies
For the multi-family, lenders typically count about 75% of projected rental income toward your debt-to-income ratio, which should help if the property is cash-flowing.
Emily Shin
New in real estate
29 January 2025 | 22 replies
You'll have access to owner occupied loan products, therefore saving on your down payment, typically 3-5% compared to 20-25% for non owner occupied properties.
Henry Lazerow
Two warnings for the Chicago market! Section 8 lawsuits and fake tenants ID's
22 January 2025 | 12 replies
I'm not counting those since I don't manage them, but I typically avoid cities and states with laws antagonistic to landlords.
Daniel Dubeck
Gap funding
28 January 2025 | 14 replies
There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).
Ram Gonzales
Creating a debt fund for owner finance strategy
15 January 2025 | 29 replies
Typical cost for the setup would be in the $15,000 range which would include production of the Private Placement Memorandum, Subscription Agreement, and Operating Agreement, Investor Qualification Forms, as well as filing Form D with the SEC, and state “Blue Sky” filings in those states where your investors reside.
Kyle Kulhanek
Retitling a property to an LLC - Chicago
23 January 2025 | 7 replies
Typically, the tax is based on the assessed fair market value of the property at the time of the transfer, even if it’s not a traditional sale.
Lisa Oliver
Best advice for finding plumbers, handymen
21 January 2025 | 10 replies
Typically it would be the tenants responsibility to provide access.