Dongzi Wu
Outstanding Real Estate Solutions Scam (ORES)
28 November 2024 | 184 replies
Is there an email that is associated with Mr Adams and the VanGuendy issue?
Frank Schofield
REO & ASSET MANAGEMENT CONTACTS
18 November 2024 | 14 replies
If you're looking to list REO properties, then there are several sources, REORenegades is a great source, and REOMAC conferences and dinners (to network), along with the National REO Brokers Association www.nrba.com.
Marjorie Deprez
Cash Purchase with Refinance
19 November 2024 | 8 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).
Valerie Bowman
Blanket/Portfolio Loans and buying an 8 unit with a single family next door
20 November 2024 | 13 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).
Ilija Sladojevic
JV and sharing my properties that are under contract with someone else.
19 November 2024 | 5 replies
Engage in networking, social media, on line forums, associations, etc and showcase your expertise.3.
James Kerson
Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents
10 December 2024 | 100 replies
You mentioned an hourly rate for agents, but there are a lot of tasks associated.
Marie Paul
New Real Estate Investor Here!
21 November 2024 | 23 replies
You should also consider joining your local real estate investors association for additional education and networking opportunities.
Nicholas Cavato
FHA vs Conventional with LLC involved
23 November 2024 | 15 replies
In many states, an LLC can keep your name off public records, which is great if you prefer to keep your ownership private or avoid being directly associated with the property.Having an LLC also makes you look more professional.
Mike Shahi
How to end a listing agreement in Maryland
17 November 2024 | 9 replies
Nothing more needs to be done.Some MLS systems require the signed withdrawal or you can get fined as an agent.The MLS where he is talking about has zero power over this.He is using a form of the association of which Im the President-Elect.
Jose Botello
Repairs and upgrades to one side of a duplex
16 November 2024 | 6 replies
I tend to write off physical expenses to the building and do not write off expenses associated with personal effects.