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7 January 2025 | 20 replies
If you do decide to work with them, you could set up a clear partnership where they’re equity partners and you handle the management and operations.
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30 December 2024 | 5 replies
They look and operate fine and the cost to replace is minimal.
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12 January 2025 | 23 replies
While I don't believe that you need a full blown business plan, strict operational budget, timeline, scrum board, etc...
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2 January 2025 | 29 replies
You can check the NMLS for licensing (some servicers will operate without being properly licensed in that state).
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12 January 2025 | 20 replies
Look into contacting some builders that operate larger scale in your area.
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29 December 2024 | 4 replies
Rough calculations on what I need to be looking for:90k deal (purchase and renovations to get max rent)20% down = 18k from me80% bank loan at 8%, 20 yr amortization = 72k-------------------------------------------------- Here's my DSCR calculation:Calculate Net Operating Income (NOI):Monthly rent: $125040% expense ratio (taxes, insurance, repairs, vacancy) = $480NOI: $1250 - $500 = $750Calculate Monthly Mortgage Payment:Loan Amount: $75,000Interest Rate: 8% per year (0.08/12 = 0.006667 monthly)Loan Term: 20 years (20 * 12 = 240 months)Monthly Payment ≈ $627.83Calculate DSCR:DSCR = NOI / Monthly Mortgage PaymentDSCR = $750 / $627.83DSCR ≈ 1.20Therefore, with a $75,000 mortgage at 8% interest over 20 years, the DSCR is approximately 1.20
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30 December 2024 | 103 replies
Once my Oregon Project is done end of this year Move base of operation and personal residence to my home in Vegas .
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28 December 2024 | 4 replies
Functionally, it operates as a 2-story home since the downstairs area has multiple windows in each room and plenty of natural light.
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29 December 2024 | 13 replies
I know and work operators who do this all the time..
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11 January 2025 | 12 replies
My updated expected monthly rental income will be $2,800, resulting in a cash flow of $795 per month (excluding my share of the split utilities).I plan to set aside at least 80% of my cash flow for property-related expenses.Additionally, I’ll be installing keypads and security cameras for enhanced safety and operational efficiency.