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20 October 2024 | 13 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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16 October 2024 | 21 replies
Eventually, 358 of the homes fell into foreclosure.The following 11 defendants were indicted on mortgage fraud-related offenses including engaging in a pattern of corrupt activity, a first degree felony: Uri Gofman, Tony Viola, Igor Gofman, Kevin Landrum, Dave Pirichy, Dale Adams, Steve Greenwald, George Gardner and James Leoni along with Real Asset Fund, owned by Uri Gofman, and Karka Inc., also owned by Uri Gofman.
30 October 2024 | 94 replies
Two masters degrees, two properties and my home residence, and still charting my path to the goals I set sooooo many years ago.
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16 October 2024 | 9 replies
Eventually, 358 of the homes fell into foreclosure.The following 11 defendants were indicted on mortgage fraud-related offenses including engaging in a pattern of corrupt activity, a first degree felony:Uri Gofman, Tony Viola, Igor Gofman, Kevin Landrum, Dave Pirichy, Dale Adams, Steve Greenwald, George Gardner and James Leoni along with Real Asset Fund, owned by Uri Gofman, and Karka Inc., also owned by Uri Gofman.
17 October 2024 | 6 replies
@Othman Zizi Following the NAR settlement the way brokerage fees are earned and who is responsible varies transaction to transaction.
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21 October 2024 | 10 replies
These forums are the best place to get advice from some vary smart people.
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17 October 2024 | 9 replies
I do know that the pricing varies based on the unit count as well as what level you sign up for; but overall, it's super user-friendly for tenants, PM's & owners.Plus they're always updating their software and adding new automation features to make everything so simple as well as well as great customer support.
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16 October 2024 | 9 replies
I'd suggest posting your location as prices will vary depending where you are (as will usage of the HVAC).The price difference is quite a bit.
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21 October 2024 | 176 replies
Once they made up their mind to buy, they may delay, but they are not going back to being content renting.All other points I am reading here have the potential to impact the market to a certain degree, but nothing can produce enough inventory to change the direction (up).
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16 October 2024 | 1 reply
Be interested in what your thoughts are to include this in a lease (needs to be maintained to some defined degree of cleanliness rather than waiting until move-out and deduct cleaning charges from their deposit).