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6 June 2024 | 8 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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6 June 2024 | 2 replies
Hi Ali, The good news is because you have experience there are loan products designed especially for investors that require NO personal income or tax returns.
6 June 2024 | 2 replies
Are there any considerations I should be aware of and account for when under contract with a property owner who has an assignment contract with a wholesaler/investor?
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7 June 2024 | 10 replies
Do you need immediate cash, or are you more interested in building long-term wealth through rental income and property appreciation?
6 June 2024 | 7 replies
QUESTION-if i where to pay off those credit cards in the next year or two, get my credit score to the required number and have the correct debt to income ratio.
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6 June 2024 | 3 replies
What is your income vs expenses on the personal side.
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8 June 2024 | 22 replies
Now 10 years later there are luxury apartment & condo buildings, new construction homes, completely renovated homes etc in place of the old run down low income housing.
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7 June 2024 | 7 replies
If you are looking for passive income then use a company or agent that does full time management.
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6 June 2024 | 2 replies
That makes your next purchase less risky due to higher reserves and the ability to earn interest on your cash if you put it in an interest bearing account until you need to use it which will counter the mortgage rate being higher.You will also get a lower payment on a 30 year refinance versus a shot term line of credit usually around 10-15 years on a 9-12% rate versus a 6.75% to 7% with good credit.
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5 June 2024 | 10 replies
But, then had: - Late fee splits- Pet fee splits / collected by PM- Leasing fee of 50% for new tenant- Renewal fee- Service fee for work done on the property- Higher fees for certain tenant conditions- Receives all interest on trust accounts- Full page of admin fees including resident liability program, benefit package, pet initiation fee, credit reporting fee, tenant lease renewal fee (in addition to renewal fee charged to landlord), lease draft fee, application fee, utility concierage service fee, legal notice service fee.