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20 January 2025 | 12 replies
Start small, be patient, and stay connected with local meetups and online investor communities for support.
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19 February 2025 | 11 replies
Instead, I bought a home at full price and missed out on years of potential savings and rental income.
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17 February 2025 | 9 replies
We would just save up, do 1 room/project at a time.
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9 February 2025 | 3 replies
@Ross DerouenBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.
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3 February 2025 | 5 replies
Online platforms like Zillow, PropStream, and Auction.com are worth exploring, and don’t forget to check out local real estate groups for deals and partnerships.Since you’re in Racine, the Rental Property Association of Wisconsin and Milwaukee REIA are great resources for networking, finding contractors, and learning about funding opportunities.
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6 February 2025 | 13 replies
I could easily see you spending more than you save if you try it with a tiny house.
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7 February 2025 | 4 replies
These properties cover my mortgage, allow me to save for maintenance/repairs, and are projected to be worth $7–9 million by retirement.
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18 February 2025 | 7 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).
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14 February 2025 | 8 replies
Palak,Many online tools like RentSavvy, Avail, Turbotenant, RentRedi, Apartment.com help you do this process.
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30 January 2025 | 4 replies
try one of those online sources like prosper etc.