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25 November 2024 | 11 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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27 November 2024 | 3 replies
The broker will also have to comply with the minimum requirements for a broker as prescribed by the local Realtors Association.
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26 November 2024 | 4 replies
In addition to running the "Illinois Real Estate Investors Association", I manage a mobile home park in Belleville, IL.
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24 November 2024 | 1 reply
All deals have the following issue, you should stress test, the degree of failure before it impacts the Capital Stack and then what happens.1.
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29 November 2024 | 27 replies
And I feel ok about giving people 71-75 in 30 degrees.
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26 November 2024 | 3 replies
The fees associated with the exchange could offset the tax savings, but it’s a viable option if you plan to continue investing in real estate.
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1 December 2024 | 91 replies
We have the licensing, training, and degrees to do what we do.
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25 November 2024 | 0 replies
Deduct Selling Expenses: Costs associated with selling the property, such as real estate commissions, legal fees, and advertising expenses, can be deducted from your sales price, thereby reducing your taxable gain.9.
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25 November 2024 | 12 replies
He is associated with our local REA.
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26 November 2024 | 12 replies
The other thing you want to consider is not just the monetary value of the easement but the opportunity cost associated with giving up those rights and if it encumber the value of the rest of the property!