Ivan Castanon
I need to change strategies. What should I do?
3 February 2025 | 47 replies
Deduct NEW property taxes after you buyDeduct home insurance costsDeduct maintenance percentage, typically 10%Deduct vacancy+tenant nonperformance percentage(we recommend 5% for Class A, 10% Class B, 20% Class C, good luck with Class D)Deduct whatever dollar/percentage of cashflow you wantNow, what you have left over is the amount for debt service.Enter it into a mortgage calculator, with current interest rate for an investment property, to determine your maximum mortgage amount.Divide the mortgage amount by either 75% or 80%, depending on the required down payment percentage - this is your tentative price to offer.If the property needs repairs, you'll want to deduct 110%-120% of the estimated repairs from this amount.Be sure to also research the ARV and make sure it's 10-20% higher than your tentative purchase price.As long as the ARV checks out, this is the purchase price to offer.It is probably significantly below the asking price.
Matthew Beninate
Business Bank Accounts
1 January 2025 | 13 replies
-Cash Back on debit card payments (THIS IS THE BEST)-Higher APY than is typical on checking accounts
Alex Collins
How to privately purchase a property from a buyer with a mortgage balance
29 December 2024 | 8 replies
Quote from @John Teachout: Title work is typically done as part of the pre-closing paperwork.
Rick Im
Discrepancies with public records
28 December 2024 | 4 replies
Rick Basement square footage and room count are typically not counted on public record but in some states agents list it or are allowed to list it.
Vanja Dimitrijevic
Cash out refinance primary residence to buy another
8 January 2025 | 8 replies
The better value add deals will typically be off-market. 3.
Chris Olandese
Tenant threatened to move out
18 December 2024 | 13 replies
The first step is typically posting a notice to end tenancy, it is normally 30 - 60 days depending on the area and type of lease.
Karen Smith
The Rise of Private Lending: What's Your Experience?
13 January 2025 | 12 replies
Add to that the fact that private financing typically involves way less bureaucracy, with reduced paperwork and fewer hoops to jump through.
Joel Florek
31 units in 30 months at age 24, $70k Annual Cashflow
9 January 2025 | 116 replies
Typically the banks that say they can get it done in a few days I havent had luck with when getting creative as they underwrite the easy deals quickly.
Timothy Lawrence
House Hacking Advice (Washington D.C, Nova, Baltimore Area)
8 January 2025 | 11 replies
Typically Conventional will end 42% of DTI and FHA can get up to 51% DTI (and based on your credit score I think you should stretch to that 51%) Just a few things to start thinking about as you are working through the process.
Weronika Jedrak
Finding tenants for MTR
26 December 2024 | 27 replies
Furnished Finder is what we use to list all of our mid-terms and don't typically have any issues finding tenants.