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16 March 2024 | 3 replies
Would it be best to put one individual on the lease and have the others just listed as people who would be residing in the residence?
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17 March 2024 | 13 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
17 March 2024 | 24 replies
If it's "within" the rules, sure, you can create your own brokerage put the minimum reserves for the property value of the houses you're buying.
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15 March 2024 | 7 replies
Has anyone created 3 listings successfully in such a situation?
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15 March 2024 | 43 replies
Hello,I have a property I rent rooms out to individuals.
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16 March 2024 | 4 replies
Liability (for what they do to your properties and to other properties and individuals)2.
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15 March 2024 | 7 replies
Yes, insurance should be in the LLC's name in this instance and you should also have yourself as an individual and "yourself, Member" listed as additional insureds.
16 March 2024 | 14 replies
I’ve never seen such a small building with individual owners.
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16 March 2024 | 4 replies
Purchase price: $280,000 Cash invested: $125,000 Acquired on the market, this 4-unit rental needed a full remodel, creating a perfect BRRRR opportunity.
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16 March 2024 | 5 replies
Join local investor club be around like minded individuals...