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16 December 2024 | 8 replies
Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.
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21 December 2024 | 10 replies
That would be a debt service cover ratio of 1.5.
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8 January 2025 | 29 replies
While Section 8 appears to promise "guaranteed" income, the reality is quite different.Section 8 typically covers about 80% of the rent with tenants responsible for the remaining 20%.
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14 December 2024 | 4 replies
They can get a loan from the solar company, but would prefer a HELOAN or HELOC to cover the solar and consolidate.
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13 December 2024 | 35 replies
That being said there are those that are willing to accept buying in an appreciating area where the rent only covers the mortgage (PITI).
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2 January 2025 | 30 replies
The guest stay with discount and toilet replacement did not cover the cost of the unit for the stay. i have the issue on occasion that the guest is expecting a bigger unit and thinks the price is high but they do not realize the value of the unit.
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30 December 2024 | 103 replies
Will rent out the unit we’re leaving which covers about 65% of our new mortgage, if we pocketed it but that stays in the rental fund.
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14 January 2025 | 329 replies
I own several hundred rental units in other states, otherwise I'd join you in helping cover the costs.
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18 December 2024 | 26 replies
This helps determine if I would be responsible for covering those costs.
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21 December 2024 | 14 replies
Lenders typically look at the rental income of the property to determine if it covers the loan payments.