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3 February 2025 | 12 replies
This will typically be a DSCR loan up to 75% of the new value.
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4 February 2025 | 7 replies
My biggest advice - take your time, do your research, and consider hiring a mentor.Check out the Rookie Podcast and forums on BP; you'll gain a lot of valuable insights from them.Wishing you success in your investing journey!
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4 February 2025 | 7 replies
Also DSCR typically has pre payment penalty while hard money does not.
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5 February 2025 | 5 replies
Which insurance providers or claims adjusters typically handle displacement housing arrangements?
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29 January 2025 | 22 replies
Here's some basic copy & paste info that may help you make better investing decisions:----------------------------------------------------------------------------------------------------------------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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24 January 2025 | 13 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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27 January 2025 | 9 replies
If you do place the property in her name, then inherit it later, it does allow for you to receive a step up in basis at that point, allowing you to sell the house shortly after her death without paying capital gains tax.5.
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19 February 2025 | 4 replies
Otherwise, that area typically moves decently.
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3 February 2025 | 25 replies
Conventional lenders typically require a 6-month seasoning period from purchase before they’ll consider the appraised value for a cash-out refinance.
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3 February 2025 | 5 replies
Typically, most cities allow for 30 day minimum rentals.