31 December 2024 | 8 replies
Thus, my taxes should be higher because of the income I generate.If I pay off the primary, I'll increase the amount I'm able to save monthly not having the mortgage, while also keeping the income generation lower on the rental because the mortgage remains open.Any thoughts would be appreciated!
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28 December 2024 | 19 replies
I will mention that a hot tub could really increase the frequency of bookings.
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27 December 2024 | 2 replies
The property was leased for $2,150 per month.Refinance and Return on InvestmentAfter a stabilization period of 6 months, the property was refinanced to leverage the increased value created through renovations.
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2 January 2025 | 11 replies
It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.
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24 December 2024 | 25 replies
This chart does not include the latest increase in rates, but in a couple weeks we should have an update.I saw several places that showed increased rates:https://www.verticalbuilders.com/blog/what-to-expect-in-q4-2...
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30 December 2024 | 6 replies
If you see utilities increasing, is there a way that you can push this on to the tenant?
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2 January 2025 | 21 replies
It's a riskier loan given you do not carry a social security, no US credit & no experience.Due to increased risk comes mitigation (Lower LTV & Higher Rates)
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3 January 2025 | 7 replies
Further, BPOs and appraisals show the properties have increased 50 to 60% in value during the last 3 years.
31 December 2024 | 15 replies
What would you do from here, pay them off sooner to increase the cash flow, or keep leveraging?
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8 January 2025 | 11 replies
While borrowing for a down payment is risky, increasing your savings will lower your interest rate.