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29 March 2024 | 7 replies
In my Lease Contract with tenants, the Lease says tenants are responsible for paying all of their utilities, including water.
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28 March 2024 | 6 replies
Location: Chesapeake, VA (large military town) Market Value: $360,000Loan Balance: $245,000Equity/Second position note: $115,000 (30 30-year amortization / 10-year Balloon Payment, 6.5% Interest, $727 monthly payment) - Bringing cash for this would save a ton of money for the buyer.Rate: 2.25%Years Left: 26Current Monthly payment: $1,300 (including taxes/insurance)Current Rent: $2,000Scenario 1: -If you were to purchase with a new VA loan at 7% interest at market value your monthly PITI would be approx.: $2,757-If you were to assume the loan and I carried the second note at the above terms your monthly PITI would be: $2,027Saving: $8,760 per year.Scenario 2:-If you were to bring the same $115,000 as a down payment on a conventional loan you would pay: $1,992-If you were to assume the loan and bring cash for equity position your monthly PITI would be: $1,300Saving: $8,304 (with no need to refi in the future)Since this is a hypothetical situation I'm going to give my number based on nat. average homeownership of 13.2 years.
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28 March 2024 | 0 replies
Picture real estate companies accessing a plethora of information on tokenized assets including fungible tokens (NFTs) right at their fingertips.
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29 March 2024 | 9 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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28 March 2024 | 6 replies
There is no way to know what the lending landscape and his options will be in five years from now - that type of loan could still be available or there could be some differences - including nuance with the specific property, location, etc
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28 March 2024 | 2 replies
This prohibition includes but is not limited to, loud noises, loud music, noxious or unpleasant orders and disruptive behavior or actions.
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27 March 2024 | 2 replies
No undergrads at present, just grad and professional.
28 March 2024 | 5 replies
Some agents include the assumption option in public or private remarks.I also use property radar to search loan info on local properties.Do you have a VA loan entitlement available and gap funds ?
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27 March 2024 | 5 replies
DM if you're interested in learning more about the CBUS market and the opportunities it can present.
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27 March 2024 | 18 replies
As I am unable to physically be present to handle the situation, I am seeking advice on the best course of action.Specifically, I have the following questions:How should I handle the immediate aftermath of the fire remotely?