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29 October 2024 | 1 reply
I am 23 and married and just about to finish my bachelors degree this Summer.
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31 October 2024 | 4 replies
Each Scope of Work (SOW) is unique to each property, as the specific needs of each flip vary widely based on the property’s condition, location, and target buyer.
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30 October 2024 | 8 replies
You also have to deal with a bunch of tire-kickers who just waste your time.The rest are only worth advertising on via syndication as not really enough traffic to justify resources to manually add.Of course, this is for our Metro Detroit market, each market may vary somewhat.
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8 November 2024 | 38 replies
Regulation and guest avatar varies in each but could be a good place to start searching.1) Waco, Texas2) Columbia, SC3) Columbus, Georgia4) Alabama markets5) Branson, Missouri6) Fort Smith, Arkansas (several in Arkansas, actually)7) Temple, Bastrop, or Brenham, Texas8) Shreveport, Louisiana9) Harrisburg, Virginia
29 October 2024 | 8 replies
Your mileage may vary.
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30 October 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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28 October 2024 | 8 replies
You’ve come to the right place to connect with some vary smart investors.
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31 October 2024 | 17 replies
Appears the PMC has done a terrible job of communicating expectations with you about their services.Regarding the tenant that wants to pay 12 months of rent upfront:1) They better have great credit or no-go.2) Have them prove they are an engineer with a copy of their degree.3) Get last year's W-2 to prove they were working. --- How will you know W-2 is not fake?
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30 October 2024 | 12 replies
It’s common to require the first month's rent, last month's rent, and a security deposit, but it can vary based on the property class and tenant qualifications.
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29 October 2024 | 6 replies
Either bank statements showing deposits or Friend of Court printout. 3) Since actual payments may vary, they need to averaged over the 3-6 months verified.Legally, you cannot ask an applicant specifically about child support income, they can only volunteer it.