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10 February 2025 | 16 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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21 January 2025 | 1 reply
In our market it is important to make sure they are a licensed broker, carry adequate GL and worker's comp (and name you as additional insured).
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21 January 2025 | 4 replies
If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.
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24 January 2025 | 3 replies
You payment is $2,600 plus tax and insurance.
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22 January 2025 | 56 replies
Health insurance, 401k, etc., and usually 8am-12/1pm daily.
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15 January 2025 | 49 replies
It just says "Pros get access to all Stessa core functionality – plus access to advanced features, like unlimited custom portfolios and chart history" but does not got over what that specifically includes.If anyone has insights on Stessa vs Buildium vs Appfolio I'd love some help.
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17 January 2025 | 24 replies
So should your facilitator.4) As a trustee, you can now write a check or wire money into any investment that follows retirement plan rules (no artwork, collectibles, alcohol, insurance, etc., and no disqualified parties).
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16 January 2025 | 2 replies
I would get the insurance in my trust name.
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18 February 2025 | 148 replies
They claimed they didn't want to tell me that my money was not in the REIT for a month because they first wanted to figure out a solution to offer myself and other customers (red flag).
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23 January 2025 | 1 reply
On property number one, I would cash flow $750 a month after mortgage, taxes, and insurance if I also rent out the unit I live in.