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13 February 2025 | 5 replies
Here's the deal:Purchase Price (PP): $95kRenovation Budget (via HML): $60kTotal All-In Cost: $155kARV (After Repair Value): Around $200kRefinance (via DSCR Loan): 7% interest, 30-year fixedRefinance Details:After the refi, I will pay back the Hard Money Loan (HML) at 11.95% with 3 points:HML: $60,000Interest/fees: $3,585Other costs: $1,800Total to pay back HML: $65,385After the refi, I will have $84,615 left in cash.Cash Flow & Expenses:Expected Rent Income: $1,700/monthProperty Management (PM): $126/monthInsurance: $100/monthTaxes: $126/monthMortgage: $1,043.75/monthTotal Expenses: $1,395.75/monthSo my monthly cash flow is about:$1,700 - $1,395.75 = $304.25/month in cash flow.Return on Investment:Cash Invested After Refi: About $18,385 (after paying off HML and closing costs).Annual Cash Flow: $304.25 * 12 = $3,651Cash-on-Cash Return (CoC): $3,651 / $18,385 = 19.8%I didn’t account for maintenance costs since it’s a full gut rehab, and everything is brand new.
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19 February 2025 | 14 replies
Can I use cost segregation studies I've done on my apartment buildings to not pay any self-employment taxes on my real estate commissions?
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9 February 2025 | 8 replies
Under SB-9, you can have at least 2 units per lot, with a minimum of 800 square feet each.
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19 February 2025 | 6 replies
If they are elderly or disabled the court can grant them up to a year to remain in place (they do have to pay use and occupancy during that time).
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19 January 2025 | 7 replies
Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.
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20 February 2025 | 3 replies
Pay Transparency RequirementsHouse Bill 3129 mandates that employers with 15 or more employees, including LLCs, must include pay scales and benefits information in all job postings.
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21 February 2025 | 4 replies
I purchased a property in Chicago in 2024 and pay $400 a month for my water bill (unmetered).
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22 February 2025 | 17 replies
That's the maximum amount we will pay for the note.
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24 February 2025 | 2 replies
I buy my STR's for fun so that I have cool places I want to go to for my family that pay for themselves and make some money.
19 January 2025 | 1 reply
What specific websites will they advertise your vacant property on?