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11 February 2025 | 4 replies
I had too many rush loans come in during that week the insurance and appraisal came in."
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12 February 2025 | 12 replies
I'm looking more for an overarching portfolio spreadsheet to track asset performance over the lifetime of holding the asset.If you have the property manager paying the mortgages, taxes, insurances, doing all the accounting, etc why not just ask them to generate whatever report you want?
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3 February 2025 | 12 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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17 February 2025 | 17 replies
We bring/offer the mortgage loan investment to the group & handle all the servicing, including chasing the monthly payment/insurance/taxes, foreclosure, etc.
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18 January 2025 | 10 replies
Look for loans such as DSCR (Debt Service Coverage Ratio) loans. 4.
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13 February 2025 | 5 replies
Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.
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29 January 2025 | 14 replies
Even if they had renters insurance, it comes with a $500 - $1,000 deductible just like your insurance.
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10 February 2025 | 6 replies
Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.
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8 February 2025 | 8 replies
Most things in relation to the rental are deductible - Mortgage Interest, Taxes, Insurance, Repairs, etcIf you are unsure of what is deductible, you may want to consider working with an accountant.
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19 February 2025 | 20 replies
Somewhere in the above you need to work in either Title search or Title insurance.13.