15 March 2024 | 10 replies
Connecting with a lender that can run numbers for projected mortgage payment vs market rents in relation to the area you're looking into would be a good first step!
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15 March 2024 | 17 replies
When you are going to be living in one of the units you can use a low money down loan with a down payment of 3.5-5% down and live in the building for one year and then if you’ve saved enough for another down payment you can then put another 3.5-5% down on the next building and live there for a year and keep doing this year after year and build up a nice portfolio this way.
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14 March 2024 | 12 replies
If househacking is possible I would rather buy my primary house using a low down payment for first-home buyers than invest in other properties in Sacramento, Modesto, Fresno, etc.
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14 March 2024 | 8 replies
It depends on what your starting reserves are, but if you have enough for a down payment, I would look into DSCR loans for financing, as you can qualify based on the property's cash flow as opposed to your own personal income.
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14 March 2024 | 3 replies
My rent is 3k a month and my payment is 4k a month.
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14 March 2024 | 35 replies
I do deliver it digitally through a web based app as soon as they book and then have a printed version at each property as well.
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15 March 2024 | 6 replies
@Michelle P Stafford, Any type of calculation of rent that includes a consideration of what principle they would have paid if they bought it, or corresponds to a payment amount of a loan could be considered an equitable interest in the real estate.
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14 March 2024 | 5 replies
Purchase Price: $380kTaxes/Insurance: $9,300 yearly (estimated)Downpayment: Up to $100kMy vision for the next 1-2 years is to live in the house and use the MIL suite income to pay most of the mortgage while saving enough for another down payment on another home that would become our primary residence.
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14 March 2024 | 7 replies
Our monthly payment with putting 5% down will be $6,700.
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14 March 2024 | 13 replies
However, they pretty much even out in terms of total mortgage payment vs rent.