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5 December 2024 | 4 replies
It's crucial to evaluate how the deal performs with the new mortgage:Updated Financials After Refinancing: Market Value: $459,000 Mortgage Amount (80% LTV): $367,200 Equity: $91,800 Interest Rate: 5% (30-Year Amortization) Assuming after 12months the rate will drop to 5%Monthly Expenses: Mortgage Payment (5% Interest): $1,971 (Now you are paying interest and principals) Property Tax: $260 (assuming has been increased with a 4% from last year) Utilities: $361 Insurance: $104 (+4% Adjustment) Vacancy: $166 (now after 12 months we can assume we have some vacancy at 5% factor on annual rent) Repairs & Maintenance: $166 (now after 12 months we can assume we have repairs at 5% factor on annual rent) Total Monthly Expenses: $3,028Rent Income after 12 months assuming annual rent increase at 5% : $3,323Cash Flow: $295$ per month 😊Long-Term Gains: $5,418 Principal Paydown year 2 (this will increase each as you pay off your mortgage $36,720 Property Appreciation (assuming 8% per year) $3,540 Cash Flow (this will increase as rents rise)Total Annual Return on Investment: $45,678 with just $ $22,789 remaining in the deal.
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3 December 2024 | 6 replies
We're in a community property state, where I believe my wife is automatically considered an owner.Would you be able to clarify if I am allowed to quit claim into this LLC as is, or if I'll need to add my wife to become a married single member LLC (married SMLLC)?
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12 December 2024 | 49 replies
Because you already invested and presumably can't get out, your brain will automatically be selective and tend to trust the positive information and ignore bad information.
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3 December 2024 | 26 replies
While it is a newer software and doesn't have certain features like automatic transfers, I really like the software.
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28 November 2024 | 15 replies
IÂ would say C- and below you have to give on that more, but IÂ would try to keep it at C on automatic.
2 December 2024 | 2 replies
They approved work before the adjuster seen in with not documents or approval from me.
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3 December 2024 | 5 replies
4) Are you adjusting to the market’s demands?
2 December 2024 | 17 replies
If they’re on a month to month lease, and you’ve offered them a year long lease that they have opted out of, you can adjust the terms of their lease once their month ends.
22 November 2024 | 3 replies
I have an Airbnb and an insurance adjuster who wants to book the place off Airbnb for two months.
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2 December 2024 | 6 replies
Your profit is the difference between your adjusted cost basis and your net sale.Adjusted cost basis is your cost of acquisition plus any capitalized improvements minus depreciation.It is very possible that you could sell a property you have refinanced and generate no cash at the sale but still have a big tax bill because you sell it for more than you purchased it for.