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1 October 2024 | 3 replies
Get out there and network with all the brokers in your marketI would love to hear what some of the hype you're all hearing out there.
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3 October 2024 | 3 replies
A blanket loan would be one loan used to buy all four properties in your case.
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3 October 2024 | 5 replies
Let's make the most of the current market conditions and build a prosperous future together.Looking forward to connecting with you all!
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2 October 2024 | 4 replies
I was able to connect my mentor with a CEO, COO, and Chief Development Officer all from different parking companies.
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2 October 2024 | 7 replies
@Christine House This can be the downside with investing in properties that have a HOA (sometimes they have a max capacity of how many rentals can be within the HOA, what type of rental they can be, or they can cut off rentals all together at anytime)If you have family that lives in the area, that could be a better option temporarily until you move it on into something else that can work for what you're tying to do.
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3 October 2024 | 3 replies
Greetings to all potential future partners.
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2 October 2024 | 11 replies
Once we offer the unit to someone we let all other applicants know it is rented, even the ones that didn't qualify.Using checklists and staying organized is key to staying on top of things and not having any discrimination issues.
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2 October 2024 | 2 replies
Private lenders are becoming a go-to option because they’re able to close deals quickly without all the hoops that banks make you jump through.
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3 October 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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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2 October 2024 | 4 replies
I am new to self-managing, but I haven't dealt with any eviction at all through former property managers either.