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26 January 2025 | 17 replies
Do you happen to have an HOA covering the neighborhood?
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28 January 2025 | 14 replies
There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).
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21 January 2025 | 8 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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20 January 2025 | 23 replies
A DSCR loan could definitely work, especially if the park’s cash flow can cover the debt.
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26 January 2025 | 17 replies
It took about 5 years for my assets to start covering my expenses.
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27 January 2025 | 8 replies
Prior to inspection I replaced one outlet cover.
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27 January 2025 | 35 replies
They are even working on getting me the evicted tenant's security deposit, the missing JANUARY rent since the place is still empty, and covering the cost of my own manager re-listing the property.
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27 January 2025 | 11 replies
You want an investment that pays for itself, including mortgage, taxes, insurance, maintenance, and even some money set aside for a reserve to cover vacancies and capital expenditures.
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4 February 2025 | 18 replies
You are competing against other owners who have a much lower basis and/or debt cost to cover.
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22 January 2025 | 14 replies
However, in the off chance that I am not able to cover my gap funds (est. $200-$300K) from that small circle, how would you recommend I start branching out?