Stephen Fleming
Newbie Plan. Thoughts?
14 January 2025 | 9 replies
.- So, you may want to consider locking in an interest rate via a 2nd mortgage.Do you have reserves for unexpected expenses?
Karen Guzik
Is it ok to use the lease agreement that comes with the book bonus?
6 January 2025 | 0 replies
Just want to make sure it's ok to use the lease agreement since it says all rights reserved to bigger pockets.
Daryn Gardner
Mobile Home Removal Services
16 December 2024 | 3 replies
I would put it on craigslist and FB to see if anyone wants it for free.Otherwise call a junk removal or abandoned car removal service.
Vontarius Dameko
Leveraging Conversational AI for appointment setting & customer service
29 December 2024 | 3 replies
Hey! I'm curious on what is the general consensus on leveraging conversational AI for outreaching to leads? There has been a ton of interest in the technology but I'm curious to know what are the thoughts from those w...
Dani Murai
General Contractor that services the Torrance/Gardena Area
17 December 2024 | 3 replies
Quote from @Dani Murai: Any recommendations for a reputable general contractor that services the Torrance/Gardena area?
Keegan Felix
Full time working mom of 3 in my 40's with 8K to invest
9 January 2025 | 21 replies
If you find someone that seems to know a lot of people needing your services, wouldn’t it make sense to focus more resources on them?
Sara Holt
First timer getting creative??
12 January 2025 | 1 reply
Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property.
Matt Agnew
Using funds from an SDIRA for real estate purchases
16 January 2025 | 6 replies
Probably not enough the IRA to own real estate given reserves needed and such.
Ankit Lodha
Cash-our Refinance - DSCR
8 January 2025 | 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 = 1.23If 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).