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29 April 2024 | 3 replies
This way the buyer can come to closing with all of the necessary funds to allow for a normal 1031.
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29 April 2024 | 23 replies
It turns out that the tenant had not paid the rent in November and December (and ultimately January too), because the previous owner allowed the home to fail 2 section 8 inspections before I purchased the property.
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29 April 2024 | 7 replies
Implementing this strategy will allow you to be more knowledgeable and therefore able to make quicker decisions and secondly others take notice of the investors who are repeatedly transacting in a specific neighbohrood which leads to more opportunties being brought to you.
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30 April 2024 | 20 replies
I am not allowed to recommend specific groups on BP, but if you DM me, I will share some of my favorites.
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28 April 2024 | 17 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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29 April 2024 | 9 replies
Allows you to sell services, collect info etc.
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29 April 2024 | 10 replies
Not a fund.Syndication would allow you to receive "sweat equity" and fees as the General Partner running the deals.
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29 April 2024 | 1 reply
They might allow for a no seasoning rate and term refinance, but that would have you bringing your closing costs and and lender fees to the table.
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29 April 2024 | 32 replies
However, I think that success has a lot more to do with an individual's hard work and determination.
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29 April 2024 | 9 replies
A lot of title companies don't work with individual notaries because it's easier and cheaper to cattle call thousands of us, which make us compete against each other.