Elisha Johnston
Recent College Graduate and New Real Estate Investor in Los Angeles
19 November 2024 | 7 replies
My name is Elisha (pronounced like Elijah with an sh) and I recently graduated from UCLA with a degree in Molecular Biology.
Austin Wolff
What's a good rental listing view-to-application ratio on FB Marketplace?
20 November 2024 | 4 replies
From what I've seen, the average view-to-application ratio on platforms like Facebook Marketplace can vary quite a bit, but a general ballpark is around 5-10%.
Dongzi Wu
Outstanding Real Estate Solutions Scam (ORES)
28 November 2024 | 184 replies
Using the "deeper pockets" theory, you go after whoever has the money regardless of their degree of involvement in the scam.
Christian Gibbs
What is the typical fee charged by property manager while rental is vacant?
25 November 2024 | 19 replies
One of the reasons I asked the question is that it seems strange to me that a property management wouldn’t take anything upfront if they inherited a house that wasn’t ready for rent .Our property management also does the cleaning ( deep clean over 4 days was $1000 but they had to deal with some nasty pet hair , fleas etc)and that included some cover up paint etc .One lesson learned here is every contract with owner : property management varied greatly it seems from what is needed .But moving forward - I feel that $500 a month on a $2100 a month property is too high once it’s rented - unless endless problems persist of course ..thanks for your insight!
Kevin Akers
What you need to know about relocating to Charlotte, NC
20 November 2024 | 6 replies
Northbound I-77 has a Quick Pass lane option, though it’s a toll lane with rates that vary based on time and traffic.
Pat Arneson
Anxiety Over Rehab Costs
25 November 2024 | 23 replies
I’m sure the prices for things are out of date, but they were always going to vary by market anyway.
Kylie A.
EA OR CPA Whats the best in your opinion?
18 November 2024 | 15 replies
If I were to apply for a CFO role now, more than likely I have to advantage over a CFO that was in a manufacturing company for a real estate company.EAs specializes specifically in taxationCPAs have a broader knowledge for accounting, auditing, financial planning, and taxation.EA must pass a 3-part IRS exam and do not require a college degreeCPA need a degree in accounting, 150 credit hours of education, must a 4-part CPA exam.EAs often charge a lower fees
Nolan Ring
3/3 lenders have no idea about FHA loans
21 November 2024 | 10 replies
Max loan amount vary by property type for FHA3.
Allison Somera
Thoughts on DSCR Loans for Investment Properties?
20 November 2024 | 9 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).
Frank Underwood
Non-real estate professional in Asheville NC late to the party!
16 November 2024 | 3 replies
I was conflicted on DR's adamant position against leveraged debt, however, having a degree in finance and economics I believed I had well balanced approach.