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12 January 2025 | 10 replies
depends on your credit if you can get a mortgage or your ability to find good deals that you use hard money for and then refinance into DSRC.
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14 January 2025 | 4 replies
The mortgage will also stay on the seller's credit which might create an issue when/if they try to purchase another property.
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10 January 2025 | 8 replies
It sounds like the Title Co. was not aware that the tenant prepaid rent and just prorated the current rent for the month of closing, so agree if they had no knowledge of it, would not have ever gone on the settlement statement as a credit to the buyer and they likely will not do anything post closing to help obtain those funds.
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6 January 2025 | 2 replies
Some will be ok in 2nd position and some will not and force you to refinance out the first - but those are options that are probably cheaper than credit cards
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20 December 2024 | 12 replies
It allows tenants to increase their credit scores by an average of 60 points, and I provide it free of charge.I have over 600 adult tenants.
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21 January 2025 | 35 replies
Charges them all for parking passes (on the lots I own), charges for pets, charges to empty the coin op laundry, charges for credit checks etc.
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13 January 2025 | 31 replies
I've found this to be super helpful: When someone inquires about the property Thank them and Send them the pre-requirements (Income, credit, no evictions) and ask if they meet them.
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4 January 2025 | 35 replies
:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, immediate cashflow and at the lower end of relative rent & value appreciation.
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2 January 2025 | 36 replies
These markets often have strong population and job growth and strong rental demand.But the reality is that even in more affordable markets like Columbus, you'll need about $50k-60k household income just to qualify for a conventional investment property loan (this assumes good credit and reasonable debt).
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16 January 2025 | 11 replies
Now 3 of the 5 taxing authorities give a credit for doing them on time which can be as high as $150 savings for me each month and I am not sure I would get that using Avalara.