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26 August 2024 | 23 replies
However, when I told the tenant that I will provide one hotel suite for 4 people (2 queen bed with kitchen and free breakfast), she has started demanding me to provide room and board for everyone including the dogs.
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25 August 2024 | 15 replies
They do have a 7-Day free trial if you want to play around with it.
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26 August 2024 | 24 replies
If the 7% has no points and the 6.75% has 1 point in cost, then you would have to go back to me and ask me what paying 1 point in cost would get you as a rate, and that number might be 6.5%.
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28 August 2024 | 4 replies
Then throw in that you as a person gave an entity a property for free (QCD it to your LLC), do you think a good attorney would basically say this is commingling as the LLC does not pay the mortgage, the mortgage is in your name....
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28 August 2024 | 6 replies
Personally, I have found that no wholesaler ever presented remotely accurate numbers (rehab estimates were well below my actual costs and ARVs VERY aggressive).
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28 August 2024 | 8 replies
You have to follow the required eviction proceedings as required by Texas or she will be in the house living rent free for a long time.
28 August 2024 | 4 replies
fha. 3.8% interest and Currently owe 450kMortgage $3,400.00Currently we are renting home out for $2,400 and taking a lossLiving in an apartment for $1700 making total living cost $2700 with the 1k for covering loss on home Household income 180k-200k Please help me figure out what makes the most sense in this situation.
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28 August 2024 | 2 replies
As with any mentorship program, they are costly, but want to make sure it's providing value before I decide to join.
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27 August 2024 | 3 replies
Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278
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29 August 2024 | 8 replies
Go to the nice ones (ARV) and the crap ones (repair costs).