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28 August 2024 | 2 replies
Bridge loans can be extremely useful for situations where you may be purchasing a property that has tenants already in the property who are well under market rents to the point where a DSCR loan wouldn't cash flow.
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29 August 2024 | 14 replies
- HELOCs are best utilized when they cover the entire purchase.
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29 August 2024 | 6 replies
If that property is till under the LLC you will need to purchase under the LLC.If you have taken ownership of the sale proceeds your next homework assignment is to look into Qualified Opportunity Zones and Qualified Opportunity Funds (QOZ, QOF), note the same accredited investor status still applies.
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27 August 2024 | 5 replies
I am looking to purchase my first rental property.
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27 August 2024 | 3 replies
Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278
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27 August 2024 | 10 replies
I will soon be purchasing my first property with a self-directed IRA.
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28 August 2024 | 0 replies
Purchase price: $94,000 Cash invested: $43,000 Sale price: $186,000 Bought this townhome from a wholesaler.
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28 August 2024 | 4 replies
I've found a niche in real estate investing where I purchase a single family home with a large lot and split the parcel into two and sell the lot and either keep the home as a rental or sell it as well.
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27 August 2024 | 8 replies
Hi all, Wanting some advise on a situation my company is currently dealing with.We purchased a 70+ property portfolio in Houston in the year 2022.
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30 August 2024 | 15 replies
You're best bet is to use a DSCR loan and purchase the property vacant.