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12 March 2024 | 4 replies
Factor in ALL expenses like property taxes, insurance, repairs, maintenance, vacancy rates, and potential property management fees.2.
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12 March 2024 | 6 replies
Every private lender will have different costs associated with getting the loan, which can depend on factors such as LTV, FICO, property type, etc.Private money lenders are almost always more costly compared to a traditional bank because there's much less paperwork/due diligence involved.
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13 March 2024 | 7 replies
@Brett Deas, I will add that the co-investment should not be dwarfed by the acquisition fee.
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13 March 2024 | 6 replies
.….INCLUDING …ALL… COSTS, FEES , CONSULTING FEES.You will likely get one of the two following responses..1) “ the hud 1 isn’t available”… if you are financing…..this is FALSE…the disclosure IS available..as it is one of the benchmark doc FOR the financing.Or..2) that wholesaler, guru, or turn key company says that they don’t want to do business with you… what they Actually just taught you.. is that you don’t want to do business with them..OOOHHH.OPTION THREE..no problem Mr Buyer… here’s the Financial Disclosure… note line 36 near the bottom on the right column… there’s a “ consulting fee”… that’s my cost .Hmmmm I know where I’m sending my business.I would love to help build your financial future ..
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12 March 2024 | 7 replies
It's the same work to do a $50K loan as a $500K loan so the fees will be higher due to the loan amount but will still be much lower than what a lender or broker gets paid on a higher loan amount.
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13 March 2024 | 10 replies
Too much risk and sets bad boundaries for tenants.Many use Venmo, Zelle or just have tenants deposit at their bank (local branch).There are also several free DIY PM softwares that have rent payment built in, but they charge the tenants a fee to do so (that's how the companies make money).
13 March 2024 | 5 replies
Additionally I've been reading there are compensating factors for FHA loans, I'm wondering if I can show more liquid assets (already putting 20% down for this purchase) so I could get a faster approval without all the other detailed information such as leases.Thank you in advance,~David
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13 March 2024 | 10 replies
But remember, there are more costs like closing fees (2-5% of the property price), money for renovations (depends on the property's condition), and holding costs (covering a couple of months' expenses during renovations and finding tenants).
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15 March 2024 | 31 replies
People will argue that politics and local rent control laws can be a deciding factor.
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13 March 2024 | 6 replies
There will be punishing late fees and probably a default interest rate.