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Results (10,000+)
Matthew Irish-Jones Cash is NOT King... in Real Estate Investing
21 September 2024 | 69 replies
Your price should reflect things gone wrong.
Andrina Maximin Has anyone used a DSCR Loan, what are your experiences with loan product?
18 September 2024 | 15 replies
Below are some general notes on DSCR loans:* usually used for single family or 2-8 multi family unit properties (fits your scenario)* must be for investment, non owner occupied (if looking for a product for alternative qualifying solutions for owner occupied there are other products)* can close in a personal name or LLC* usually 80% LTV for a purchase (20% down payment) & usually 75-80% LTV for cash out refis* prepayment penalties vary and are optional, but the higher the prepayment penalty, the lower the rate / options typical range from no prepay all the way up to 5 year prepay and structures vary for how those penalties work (3 year is my most popular by far)* appraisal most likely required and paid out of pocket during transaction* can be used for long term, mid term, or short term rental properties * generally 1%+ is the desired DSCR ratio but you get better rates if the ratio is higher (usually rate breaks kick in at 1.15%+ or 1.25%+) and you can still get the loan done if ratio is lower than 1% but the rate will reflect that (DM me if you wand help learning how to calculate the ratio)* the average time to close is 21-30 days* fees vary lender to lender and product to product, but $1595 underwriting plus title fees is pretty standard* 700+ credit is preferred to get max LTV, but plenty of options if credit falls below that* a typical loan minimum is $75k (have limited options for $50k+) and typical loan maximum is $3-4m (have limited options for $4m+)* 3 months reserves usually required, having 6+ months will usually result in better loan terms, 0 reserves can still get the job done if you go with a program that allows you to use the cash flow as reserves* 30 year fixed, IO, and ARMS available
Tiffany Roberts I hate my rentals- should I just sell and be done with this game?
17 September 2024 | 68 replies
And I just got kind of burnt out and I've never really gotten over that. all of them  seem like they should cash flow but the reality is our business bank account never reflects that, but it could be bc we are constantly in the process of remodeling something, I'm actually not sure. 
Nina Penuela What do you think makes a good property manager?
14 September 2024 | 32 replies
I would also say everyone who works for the PM or in the office of a PM represents you so if they aren't competent that reflects on you. 
Maciej G. Tenant threatens to sue me for $20 000
15 September 2024 | 61 replies
Ariz. 2004.Please be advised that I am enforcing my rights under the FDCPA and under Wyoming's Landlord/Tenant Act, and that this correspondence shall in no way reflect a waiver of any of the rights prescribed under either of those Acts which are not expressly asserted herein.
Naveen kumar Vadlamudi Need Help on deal analysis and price suggestion - 1st deal
12 September 2024 | 4 replies
Contact the local Assessor's Office to find out how much.You state this is a "college town property", but the rents don't reflect that.The low rents typically are reflective of long-term tenants that the current owner hasn't raised rents in awhile.
Nicholas Jose My New Landlord Transition Letter - please critique!
14 September 2024 | 19 replies
I'll rewrite the letter to reflect this revelation.Originally posted by @Sylvia B.
Zach Gallagher Fairmount Funding Vs Visio lending
14 September 2024 | 32 replies
I negotiated that down to 10k several days ago, but the docs they want me to sign STILL dont reflect this.
Sanjeev Advani Back-to-School Shopping Slows in 2024 as Consumers Shift Priorities
11 September 2024 | 0 replies
Labor Day sales showed shoppers seeking bargains, reflecting heightened concern over inflation and economic uncertainty.
David Tran Hero program is a scam and fraud
15 September 2024 | 22 replies
I don’t know what the next guy charges but my pricing reflects my overhead and doesn’t change wether or not the project is HERO funded.