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26 December 2024 | 7 replies
If in the rare chance they do allow short term rentals in the HOA rules/regulations and association documents, don't be surprised if they change that ruling after you buy.
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23 December 2024 | 7 replies
Cannot control association fees3.
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23 December 2024 | 15 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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20 December 2024 | 3 replies
I would think that local chapters of builder's associations would be a good spot as well.
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23 December 2024 | 11 replies
Any person over 18 should go through the tenant screening if they are living there...they don't necessarily need to be on the lease, but there is another area on the Chicago Association of Realtor's lease to add occupants.
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5 January 2025 | 24 replies
Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.
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21 December 2024 | 8 replies
And as far as social media goes, there are more than 2.2 billion active users on the site every day.
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22 December 2024 | 1 reply
I attended local meet-ups, joined real estate associations, and even reached out to experienced professionals in my area.
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16 December 2024 | 8 replies
Also American association of private lenders is one trade group,Thanks for the response, Chris.
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19 January 2025 | 46 replies
With her US ITIN, she was able to create an LLC business-structure, associated her ITIN with the business as the owner.