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26 October 2024 | 11 replies
I've been in contact with them and some of the replies have been "unfortunately it can be slow depending on the area and the time of year" and "the timeline for how long a property remains on the market can vary, as it depends on the specific situation", in other words some pretty vague answers.
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23 October 2024 | 1 reply
While that’s appealing, the added complexity with tenant turnover, varying personalities, and managing shared spaces can make it a bit of a trade-off.I’m curious, how does it look in other markets?
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22 October 2024 | 4 replies
I used this calculator to verify the amounts : https://lex-co.sc.gov/services...information below if from : https://realestatescorecard.co...Real Estate TaxesSouth Carolina taxes on residential real estate can vary quite a bit depending on where you live and if your home is your primary residence, or a second home or rental property.
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23 October 2024 | 2 replies
There are pros and cons to long term and short term from a rental management side, and purchase/acquisition.Long term = lower vacancy, lower expenses, potentially lower revenueShort Term = higher vacancy, higher expenses, potential for higher revenue, financing is more expensive than long term rentalsWatch out for local STR regulations, they vary from city to city.
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24 October 2024 | 16 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 | 40 replies
But they are getting the advice from people who are either (1) not qualified or experienced enough to rely on their advice (2) biased to some degree, perhaps unintentionally, by their background, business interests, training, etc, or (3) providing advice in a general sense without a thorough understanding of the questioners personal situation or ALL the relevant facts.
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25 October 2024 | 17 replies
It’d be great to know a little more about your market preferences and non-negotiables, since Alabama’s pretty diverse in terms of what it can offer.For example, the Huntsville area is a much higher-growth market than Birmingham, and the median home in each area is priced accordingly to reflect that difference.Even individual markets can vary widely by zip code—properties in a Birmingham suburb like Forestdale are going to fetch dramatically different rents than homes in a neighborhood like Mountain Brook or Vestavia Hills.In any case, let us know what your buying criteria look like, and we can give more pointed recommendations.
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22 October 2024 | 5 replies
However, costs can vary significantly depending on the specific location and type of construction, so be prepared to be flexible with your plans.Let me know if you have any further questions.
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22 October 2024 | 12 replies
It is a bit more seasonal but there are other things to do in the summer like mountain biking.South around Packwood is popular to some degree, Ashford is close to Mt.
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24 October 2024 | 18 replies
No surprising considering all of my varied experiences with HD