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13 January 2025 | 6 replies
I started planning to move to my next property and my company decided they wouldn't cover me anymore once I left.
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3 February 2025 | 47 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
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1 January 2025 | 6 replies
Combine that with America’s housing shortage, and the solution becomes clear:We need to build more homes that align with what buyers can afford.
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15 January 2025 | 11 replies
It has ~$580k left on the 3.25% mortgage.
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7 January 2025 | 2 replies
My original loan amount is $323K, balance left $319K at 7% and 28 yrs and 8 months left.
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13 January 2025 | 25 replies
The combination of its growing tech & healthcare sector, long-term resilience to climate change, and relative affordability makes it an interesting place to start our real estate journey.I spent a big part of my career in hospitality real estate consulting at a Big 4 firm, but I left to explore new opportunities and decided it was finally time to take the leap into real estate investing.
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9 January 2025 | 15 replies
Lenders typically look for a DSCR of at least 1.25, meaning your monthly rent should cover the loan payment plus 25% more.Seasoning: Some lenders may require a waiting period of 6 months or more before refinancing, so check with your lender to see if this is an issue.If the numbers align, refinancing could allow you to recoup your $136k investment without selling.
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9 January 2025 | 3 replies
For (C) (ii), if parking spaces are "0", is "Identified as _____ and containing _____ parking spaces" left blank?
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10 January 2025 | 2 replies
However to save money when she had the house built, she left the basement unfinished--it is just studs, insulation, and windows/doors, plus plumbing in the foundation.
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31 December 2024 | 14 replies
And considering I think a person who puts in plain black and white that integrity and character of the operator are key -- and then does something underhanded and incompetent is just mind-boggling to consider -- so I'm only left with a negative feeling about the documents these darned attorneys dream up!