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10 July 2024 | 10 replies
The catch is, my current interest rate on the conventional is 2.87% and I'm positive it will nearly triple if I refinance with a DSCR so it's a tough decision.
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8 July 2024 | 14 replies
They do either a flat fee or contingency, your choice.
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8 July 2024 | 11 replies
This morning I was able to get a Veteran approved who had a bunch of credit issues, foreclosure 4 years ago, overdraft fees in his bank account, negative bank balance, high debt ratios and a whole host of other challenges.
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9 July 2024 | 5 replies
The current market value of the home is about $645,000.Key Details:Purchase Year: 2020Purchase Price: $415,000Current Market Value: $645,000Mortgage Interest Rate: 2.99%Equity: $320,000Current Monthly Cash Flow: $1,450Return on Equity (ROE): 5.44% (without variable expenses)Return on Investment (ROI): 14.5% (without variable expenses)However, I've noticed some trends that are starting to concern me:- Home prices in my area are slightly reducing, and rental prices are also on the decline.- There are more houses listed for sale and rent in the neighborhood, which is pushing rent values down.- My current lease is up in September and the tenant is leaving, and I expect my monthly cash flow to reduce to $950, lowering my ROE to 3.57% and ROI to 9.5%, again, without variable expenses.- Homes are staying on the rental market for a few weeks, sometimes months, even at lower prices.
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11 July 2024 | 18 replies
It is a no downpayment no PMI, and no payback or equity share program, with great interest rate buy-down options and the loan limits are very high because LA is a high-cost area.
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10 July 2024 | 7 replies
In my experience, good design is good business; building something with character stands out to potential tenants (increased rent) and helps lower vacancy rates.
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9 July 2024 | 17 replies
The mfg won't produce a "load rating chart" since there are too many load combinations to worry about.
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6 July 2024 | 8 replies
It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.
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9 July 2024 | 6 replies
The additional garage fee was minimal ($100.00 extra per month).
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8 July 2024 | 11 replies
I am using the Rentometer average rate plugging in the difference between the rates.