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19 February 2024 | 7 replies
I'd guess $12,000 - $15,000, including the utility work - based on my experiences in SoCal.....
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21 February 2024 | 6 replies
I ordered well before the deadline to have the Planner included, but I haven't received the planner yet.
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23 February 2024 | 22 replies
Everything is expensive, downtown in particular, including real estate.
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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 | 5 replies
Key factors to consider include choosing a safe and appealing location and assembling a strong team of professionals to navigate the complexities of the project.
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22 February 2024 | 21 replies
If you don't have the "dough" you don't have the "go".Based on what you are saying you will need 20% down payment for a rental + closing costs + operating reserves (in cash).Most people will not have this--some will do what they need to do to get it--some will not, some can not.A good first step might be to save up as much as you can for a year in a special savings account--by living frugally for 12 months.Then explore down payment assistance programs in your area for first time home buyers of a primary residence--if you qualify (and the home is in a good area for your 'Family" vs Gunshot Alley, then buy a home for yourself and your family.Getting on the track of being a homeowner will give you some additional strength, after a few years of ownership, re-asses your situation.Or work 2 jobs and save the 20% down, closing costs and operating capital you will need, but if you do that and your wife divorces you for it, then you will be in a worse situation than you are now.In the mean time, [1] read Rich Dad Poor Dad, and [2] have fun with your family doing things together (while you have the time), rent a boat for an afternoon, go on a pic-nick, hike in the woods, etc...
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21 February 2024 | 2 replies
Get a laminated instructions sheet with images that says what you can and can’t flush and tape it to the inside door of the bathroom vanity and include another copy in their move-in welcome packet.
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21 February 2024 | 7 replies
Here are some stages and recommendations to help you through the process:Create an extensive business plan including all aspects of your idea.
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21 February 2024 | 7 replies
To make connections with other investors, real estate experts, and possible partners, go to local real estate investing clubs, meetings, and networking events.Leads/Properties: Explore via a variety of channels, including direct mail marketing, networking events, and internet platforms like Realtor.com, Zillow, and MLS, to locate leads and properties.
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21 February 2024 | 8 replies
It's $25,000 for 12 months of coaching, including meet ups where they introduce to private money lenders etc.