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28 November 2024 | 13 replies
My monthly fees are as follows (handyman inspection $125, Cleaning $270 a turn (I collect this from guest), TAT&GET (collected from guest) Property Taxes, Insurance (I highly recommend you price this out, with hazard I pay $1,200 a year), internet/cable $100, Electricity $300 a month, AOAO dues $900 (association fees are increasing minimum 5% a year).
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26 November 2024 | 6 replies
It feels like everyone and their grandma is on the Do Not Call list nowadays and my worry is the fines associated with accidently calling these individuals.
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26 November 2024 | 22 replies
.: Quote from @Chris Seveney: @Dana YobstBlows my mind how he is out there still teaching classes and going on as nothing happened but it sounds like these debts are not getting substantially paid down.As many of us know, one of the main reasons he's able to continue on is with the help of this other self proclaimed criminal https://weclosenotes.com/ep-nc-03-protecting-yourself-using-a-corporate-veil-with-aaron-young-from-laughlin-associates/ Using a remote entity to limit liability is a life blood of insuring investment into all types of job creating, life saving and life improving business development.
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26 November 2024 | 14 replies
There are no commitals until it works for you and there are no regulations or fees associated with using the app.
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27 November 2024 | 1 reply
Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.
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26 November 2024 | 7 replies
To be honest I wanted to dissolve that LLC mostly because I didn't want to continue paying all the annual fees associated with it
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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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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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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.