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10 August 2024 | 85 replies
As the problem gets worse every year, I imagine it's only a matter of time that quantities become so big that it's going to become unmanageable.
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5 August 2024 | 9 replies
If some celebrity died on your property and a bulldog lawyer was sufficiently motivated, your LLC can likely be pierced.
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9 August 2024 | 39 replies
Your choices are limited since there is only a handful list of lenders who offer such loans, but it is sufficient.
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2 August 2024 | 2 replies
I obviously want to be careful, but at the same time, gut says I can get more than the meager comps show (both in quantity and value).Anyone out there facing this type of issue?
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5 August 2024 | 15 replies
Equity and retirement assets wont do anything for DTI unless youre retirement age, have a plan in place to create income via IRA distributions, and have a sufficient balance for the distributions to continue for at least three years.
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3 August 2024 | 9 replies
I've found their free version to be totally sufficient!
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2 August 2024 | 4 replies
Unless the land had such a signifacant value like over $500K you might find a private lender to put a junior lien against it if you own it "free and clear".I have seen some private lenders offer a higher LTV even 100% if the collateral is sufficient, but again land is tough to resell unless its commerically zoned in a great location.
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2 August 2024 | 18 replies
The key is to build your portfolio slowly but consistently, focusing on quality over quantity. shervinrealtor.com
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31 July 2024 | 3 replies
@Alan Lacey so if someone had no job they would still be approved for any cashflowing property that brought their DTI up to sufficient ratios?
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1 August 2024 | 8 replies
Many lenders, including my group, offer a DSCR product to refinance on the back end as well.Before taking out a loan for a BRRRR project be sure to calculate all carrying costs (taxes, insurance, utilities, HOA, loan interest, etc.) to ensure (i) you have sufficient cash to cover monthly payments for at least the duration of the project and (ii) your estimated rent after repairs is at least 1.10x PITI (monthly refinance loan payment principal and interest, taxes and insurance).We have a proprietary BRRRR cash flow calculator tool that we share with our clients to help reliably assess costs and returns for these types of projects.