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7 June 2024 | 10 replies
For context, my rent will just cover my PITI for my primary, nothing more--interest rate is 6.3% on a 300k home (so side question, are other people also just getting PITI covered by rent in North Dallas single-family homes, or am I just bad at this??
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6 June 2024 | 7 replies
/ $1000Utilities / $300 mo.Supplies / $60 mo.Lawn Mowers / $200 mo.Total monthly cost$1600-1700Target nightly rate starting out: $140Cleaning Fee: $50Avg. occupancy rate for my area: 46% (This could be inaccurate)Projection: $1932 (@ 46% occupancy) + 300 (cleaning fee @ 6 stays) = $2232 - $67 (3% booking fee) Monthly Revenue:$2165NOI: ~$500/moSo if you have a lower-end home in a smaller town here are the numbers I'm interested in:Total Revenue for 2023 and YTDOccupancy RateApprox.
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6 June 2024 | 2 replies
That makes your next purchase less risky due to higher reserves and the ability to earn interest on your cash if you put it in an interest bearing account until you need to use it which will counter the mortgage rate being higher.You will also get a lower payment on a 30 year refinance versus a shot term line of credit usually around 10-15 years on a 9-12% rate versus a 6.75% to 7% with good credit.
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6 June 2024 | 39 replies
We are month 27 since the rise of rates, and month 11 of the expected peak of rates.
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6 June 2024 | 4 replies
For the first four properties that I purchased, the loan officers sent me "initial disclosures" which clearly stated the interest rate expected closing, expected monthly payment etc.
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6 June 2024 | 6 replies
Taxes should be in the underwriting but at the same time, the percentage charged by the local city/county/state should be baked into the nightly rate.
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6 June 2024 | 1 reply
Price - $299,000Preferred Lender rate - 4.75% on a 10/6 armRent per unit - $2,000 +/-3bed | 2bath 1,500 sq feetFinancials - 25% down, 4.75% rate, monthly cash flow roughly $200Builder warranty included.
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6 June 2024 | 0 replies
Basically an informal audit of ones portfolio.This could be as simple as creating a few benchmarks (specific ratio of expenses, total PM fee ratios, vacancy rates and duration,etc)As much as one could assume they have a well oiled portfolio, an outside investor could find areas of improvement.
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6 June 2024 | 13 replies
The best rate I could get now for an investment home is 8%.
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6 June 2024 | 16 replies
Airdna shows the avg. daily rate around $400, which sounds really good to me and occupancy at 56%.