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27 January 2025 | 18 replies
@Joseph Binkowski - this seems overly complicated and possibly breaking a law... maybe you need a lawyer to vet this.If I were that accredited investor, I wouldn't touch any of it.
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29 January 2025 | 5 replies
It essentially includes having a buyer for a specific property BEFORE entering in a contract with a seller.
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10 February 2025 | 6 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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28 January 2025 | 10 replies
The home is 4bed/3bath and 1990sqftFinishes= quartz countertops, fully tiled showers, 8ft doors, LVP flooring throughoutFinancing isn't included in Gross Margin.
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28 January 2025 | 19 replies
We took a break raising our kids and then I got much more into REI starting in 2015.
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30 January 2025 | 5 replies
At best you’ll be able to buy, through “creative” finance break even cash flow situations, which at best may begin modest positive cash flow in 3 or more years.
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24 January 2025 | 0 replies
If Landlord has filed an eviction due to Tenant’s Default or other breach, including breaching for non-payment of Rent, regardless of the outcome or disposition by the court, Tenant agrees, upon request, that the court shall make a determination who the prevailing party is in any eviction and whether any attorneys' fees and court costs sought by any party are reasonable.
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29 January 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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23 January 2025 | 0 replies
Includes a single family home (4 br) which was divided in two sections one of which is being rented.
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21 January 2025 | 3 replies
I am using the BRRRR Calculator and was wondering if Homeowners Insurance estimate was included somewhere or if I had to manually enter it somewhere?