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11 February 2025 | 167 replies
I don't think US based banks are allowed to accept any foreign currency as is (deposits, payment).
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10 February 2025 | 2 replies
Their insurance has asked me to return the month's payment for the remaining days of their rental (Unfortunately, I did not have a cancellation agreement).I am unsure how to handle this situation, especially since I couldn't fill the majority of the rental dates and had to offer discounts for the days I did manage to book.
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9 February 2025 | 4 replies
For this I’ve taken the payment amount of the second loan and included it as an additional monthly expense.
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8 February 2025 | 2 replies
And what happens after the 5, 7 or 10 years depends on the lender but typically it would be a balloon payment.
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13 February 2025 | 4 replies
I love that the MHDC loans are offering 0% down payment options for duplexes, I would look into that if you havent already.
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12 February 2025 | 14 replies
Although things will change this year, between HELOCs, 1031 Exchanges, and a Business Partnership, I'm up to 15 doors (including my personal residence) and I haven't done a down payment since 2015.
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9 February 2025 | 12 replies
I have two properties (exact same property just across the street from each other) one is a seller finance that is coming to the end of its contract for balloon payment and the other is a fix and hold Interest only loan that is also coming to the end of its contract for balloon payment.
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24 February 2025 | 8 replies
My budget for my first property would be somewhere from 50-80k as a down payment.
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13 February 2025 | 22 replies
Cash flow is defined as the money left over after paying for all expenses, including setting aside a certain amount to cover projected expenses like maintenance, vacancies, or capital expenditures.EXAMPLE:Property Price: $250,000Down Payment (25%): $62,500Loan Amount: $187,500Interest Rate: 6.5%Loan Term: 30 yearsMonthly Mortgage Payment: $1,185Monthly ExpensesMortgage Payment: $1,185Property Taxes: $250Insurance: $100Maintenance (10% of rent): $250Vacancy and CapEx (20% of rent): $500Rental IncomeMonthly Rent: $2,500Total Expenses: $2,285Cash FlowNet Cash Flow: $215 per month 💰However, there are many other factors to consider.
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16 February 2025 | 22 replies
Debt service is way up, revenue is generally down, down payments are way up, financing terms and costs are much worse.The time of fast scaling has passed, unless you're very creative.