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8 February 2025 | 18 replies
Not much if any attention is paid to the guarantors, credit, income, etc.
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28 January 2025 | 0 replies
Both generate passive income streams without you having to clock in at a 9-to-5.🏗️ Building Equity While Others PayWhen your tenant pays rent, they're helping you pay down your mortgage - building your equity.
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28 January 2025 | 5 replies
One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.
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12 February 2025 | 6 replies
Year long lease typically, with subletting allowed to offset summer months cost to tenant.I worked out some high-level math: Assuming there is a 6 bedroom single family house for sale for 800k, and I can rent for 6k/month.Financing: 350k cash, 450k loan @30yr, 3.8%.Assumptions: 7% vacancy/yr, $4000/yr repairs, $10k/yr property tax, $4k/yr insurance, 8% management fee+50% first month rent on new leaseMonth-to-month breakdown: Income: $6000 Vacancy, Mgmt fee, repair, taxes, insurance: $2300Loan PI: $2650I'd take home ~$1000/month.
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28 January 2025 | 29 replies
This could help decide if the income is enough.
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17 February 2025 | 7 replies
Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.
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10 February 2025 | 24 replies
I am not saying 25% threshold, I am saying they should work or have another solid way of income and can contribute a healthy portion of the rent.
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1 February 2025 | 9 replies
You’d get a consistent income which might bring you more income on a year to year basis than renting a room on Airbnb here and there.
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3 February 2025 | 37 replies
With $1mm cash we can do 3 locations netting $40,000 before income tax per month.
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20 February 2025 | 8 replies
You might have to give up some income from the rentals but it gets you ownership of the park and time to fund long term financing.