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9 January 2025 | 8 replies
There are other ways to determine rental amounts like researching in zillow and/or rentometer, which I typically reference.
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6 January 2025 | 2 replies
----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?
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8 January 2025 | 5 replies
I do not have a traditional W2 job so I can't pursue the typical conventional loan or a FHA since I don't have income (hence the DSCR route).However, I've seen that most DSCR lenders do not lend if the loan amount is less than $100K.
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9 February 2025 | 32 replies
Yes it needs a closet and a point of egress to be considered a bedroom, and more bedrooms typically equal higher appraised value.
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15 January 2025 | 15 replies
If all things are the same a 3/2 will command a higher price than a 2/2, and typically as a property gets more expensive the average length of stay goes down.4.
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12 January 2025 | 12 replies
Property owners get an annual update on their SEV & Taxable Values with their city property tax bill, typically sent in December.So now, the city assessor tracks the SEV, but homeowners are taxed based upon the capped Taxable Value.
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10 January 2025 | 3 replies
In that case, you’d typically need to file a legal challenge, which could involve going to court and showing that the restriction is unnecessary or unreasonable.The best advice I can give would be to consult a real estate attorney to understand your specific situation and options.
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11 January 2025 | 14 replies
Those horror stories are typically from amateur landlords that don't know how to screen tenants.
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26 January 2025 | 33 replies
A sophisticated investor will also typically ask for the entire claimed track record and then run it through the wringer.
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8 January 2025 | 16 replies
However, unless you're doing this as part of a BRRRR strategy, you may end up paying closing costs twice and incurring unnecessary interest on the HELOC prior to refinancing.Additionally, conventional loans often have seasoning requirements of 6-12 months, while DSCR loans typically require only 3-6 months.This post does not create a CPA-Client relationship.