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16 December 2024 | 18 replies
Present the pertinent property details efficiently (bullet points, not paragraphs), highlight amenities (in-suite washer and dryer or reserved parking), and include your company name ("professionally managed by...").
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10 December 2024 | 11 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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11 December 2024 | 6 replies
If you have 60k equity and 10k cash, slow down and remember this - you need 15k for reserves for a new property and you should always only use half of your equity which would leave you with 15k for downpayment and 10k cash for renovation.
8 December 2024 | 2 replies
If you think this is your comp and you did the work without permitting it, the value from the bank will not be the same as the other comp sold because they will ask for permits/city confirmation this was truly added to give the value.
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8 December 2024 | 7 replies
Although I've stressed the importance of reserves, he is comfortable with his system.
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10 December 2024 | 14 replies
if someone else comes along and wants to put 50% down on a great property, and they have sufficient cash and reserves, great!
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9 December 2024 | 166 replies
Those are significant network effects and technology maturity factors that will make it very difficult for a crypto to supplant bitcoin as essentially the global reserve cryptocurrency.
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6 December 2024 | 5 replies
Contact the real estate division for confirmation: https://idfpr.illinois.gov/dre.html
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13 December 2024 | 35 replies
Make sure you've got cash reserves for closing costs (around 2-5% of the purchase price, repairs and maintenance (aim for 1-2% of property value annually), vacancy periods (budget for 3-5 months of expenses), property management (if you're not self-managing), emergency funds for unexpected repairs.When choosing markets, look for those with stable job markets, growing population, and strong rental demand.
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19 December 2024 | 55 replies
The company making the offering must take reasonable steps to verify that an investor is accredited, which may include checking financial statements, tax returns, or receiving confirmation from a broker-dealer, attorney, or certified public accountant.These regulations reflect a balance between making capital more accessible for businesses and protecting investors from risks associated with unregistered securities.