14 November 2024 | 20 replies
Keep in mind that there may be legit charges associated with termination- for instance, they may need to hold some funds in escrow to cover lingering utility bills or cleaning after that 30 day period.
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14 November 2024 | 22 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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12 November 2024 | 2 replies
I'm in search of a good land use lawyer who can help me negotiate public infrastructure I am being required to pay for near Waynesville, Ohio (Wayne Twp, Warren County, exurb of Cincinnati/ Dayton) in association with a small subdivision I am constructing.
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14 November 2024 | 10 replies
Lastly, look into joining the local Real Estate Investor Association in Greenville.
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26 November 2024 | 86 replies
@Scott Trench I volunteer the full resources of myself, team, network and lobby powers with associates in facilitating any/all of these actions you deem required to take.
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13 November 2024 | 34 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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5 December 2024 | 554 replies
The National Association of Realtor has actually been investing money into the company and have started to work with them.
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15 November 2024 | 7 replies
I also have one credit card I use for expenses associated with the properties.
14 November 2024 | 5 replies
Join a local landlord association.
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13 November 2024 | 12 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).