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22 February 2024 | 14 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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21 February 2024 | 14 replies
. :-)Lots of folks use tile in their homes Including my primary and rentals.
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20 February 2024 | 2 replies
If not, you will have to include an explanation as well.
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20 February 2024 | 2 replies
I always include facts proof and data, but it always lands on deaf ears.
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21 February 2024 | 14 replies
Wise investors are putting systems in place (including property managers and other service providers) so that these risks are mitigated without investor being involved.
21 February 2024 | 23 replies
Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.
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21 February 2024 | 27 replies
And will have ..a GREAT FORUM…that has the typical…” Deals Available” section.PLAN ABut… the deals REQUIRE … a) the seller post the deal and …b) Include ….
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20 February 2024 | 9 replies
Sister's rent amount, term (date of refinance), mortgage payment responsibility, insurance responsibility, utilities responsibility, tenant selection responsibility (since this will be a multifamily property), property management responsibilities including repairs, maintenance...2.
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23 February 2024 | 35 replies
Economic vacancy includes anything missing from the gross potential rent, including both actual vacant periods and unpaid rent in occupied units.
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21 February 2024 | 6 replies
Plans need to include how to fund things and to have flexibility to deal some unknowns or uncontrollable things such as a tenant leaving or not paying. 1.