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5 January 2025 | 5 replies
@Arun Philipnot sure if i understand your question.if you don't have any cash, period, you shouldn't be buying any more properties.
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27 January 2025 | 56 replies
We'd have to cash-flow $1,300/mo over that period to make that much, which isn't happening.This is all to say that if you are in a market that has good long-term appreciation potential, then whatever rental model you choose is simply a way to make a little money while you hold the property for larger long-term gains.I'll let others chime in on your specific area.
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4 January 2025 | 1 reply
Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?
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12 January 2025 | 28 replies
If your hold period is short, it may not make sense to take bonus depreciation.BENEFIT - Clearly additional depreciation is the benefit, but only if you can use it.
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9 January 2025 | 11 replies
Some expenses, such as utilities, property taxes, and interest, incurred during this period may also be capitalized.
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19 January 2025 | 354 replies
That's that's interesting, so if Matt invested$500 over a 60 month period, he would see a total of $300 income from his investment.
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1 January 2025 | 2 replies
It can take up to three days to serve, then you can file in court after the 3-day period.
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5 January 2025 | 5 replies
You absolutely want to be concerned with this.I would just argue what you're concerning yourself with today may be totally different in that 10-20 year period.
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9 January 2025 | 17 replies
If she wants paid for canceled appointments, then I would suggest you look for a new cleaner.My policy is to keep all funds if the guests cancels within two weeks of their stay, unless I'm able to rent to someone else for the same period/rate.
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9 January 2025 | 15 replies
Lenders typically look for a DSCR of at least 1.25, meaning your monthly rent should cover the loan payment plus 25% more.Seasoning: Some lenders may require a waiting period of 6 months or more before refinancing, so check with your lender to see if this is an issue.If the numbers align, refinancing could allow you to recoup your $136k investment without selling.