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26 November 2024 | 5 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.
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23 December 2024 | 2 replies
The CTA is reinstated, and we are back to being required to register.
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24 November 2024 | 27 replies
I don't care if the management company makes 50%, 70% or 90%.
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25 November 2024 | 19 replies
The downside is you now have a situation where they make more money the longer it takes to get your house rented.
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30 November 2024 | 2 replies
Also, the ability to export reports for partners or lenders would be a plus.Essential Data/Analytics: Reliable rent estimates, cap rates, cash-on-cash return, operating expenses (especially maintenance and CapEx), and local market trends like population growth or job market health are key for decision-making
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24 November 2024 | 11 replies
For the properties that are normal and make sense to purchase, the current owner in default, as time to lose property gets more closer, gets desperate and ends up finding a way to get current.
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25 November 2024 | 4 replies
You're spot on with how private money lending offers speed and flexibility compared to traditional banks.
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20 November 2024 | 2 replies
-NationsIt makes little to no economic sense to do a renovation in this neighborhood.
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26 December 2024 | 1 reply
Although 2024 was generally considered a seller's market, based on what's going on in the new and the real estate market --- Do you think 2025 will be a buyer's market or continue to be a seller's market?
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25 November 2024 | 6 replies
The availability date does not have to be a future date.As for processing applications, we try to complete them within 24 hours, starting from the point we have a complete application.