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30 January 2025 | 62 replies
Estimated about $25,000 including utility hookups.
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22 January 2025 | 0 replies
Unlike banks, which offer limited loan options, brokers have access to a wide network of lenders, including niche and non-traditional financing sources.Here’s what they do:Assess your financial situation to determine your borrowing power.Compare multiple loan products to find the most favorable terms.Negotiate rates and terms with lenders on your behalf.Guide you through the application process, ensuring you meet all requirements.Example: Suppose you have a lower credit score or unconventional income sources.
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28 January 2025 | 15 replies
Terms such as interest rates and payment schedules are typically negotiable.Combining creative financing with seller financing can include strategies like:Subject-to and Seller Financing: Taking over the seller's mortgage and financing the equity portion through the seller.Lease Option: Renting with an option to buy while negotiating seller financing for part of the purchase.Wraparound Mortgage: Keeping the seller's existing loan while they finance a new loan that includes the balance.To proceed, consider connecting with experienced investors, understanding local legal implications, and attending networking events to gather insights.
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23 January 2025 | 15 replies
I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...
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3 February 2025 | 12 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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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20 January 2025 | 2 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.
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9 February 2025 | 8 replies
As @Jerryll Noorden said BE HONEST, full disclosure, INCLUDING that your a licensed agent.
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28 January 2025 | 10 replies
Do everything right: To include but not limited to pro photos, professional quality design, durable furnishings.
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23 January 2025 | 8 replies
So eventually this negative cash flow property becomes cash flow positive and pays for itself including property taxes, hoa, mortgage etc.Trying to calculate how bad is my investment here or should i sell out if there is appreciation
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22 January 2025 | 9 replies
We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.