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21 April 2024 | 2 replies
Have a conversation with your partners and mention to them that you are interested in buying them out.Make sure to factor in closing costs on the future sale in your offer.
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22 April 2024 | 5 replies
We knew it was a great deal but with bad pictures and being in rough shape we made a quick offer slightly above list price, limited inspection and quick close and included a quick acceptance deadline so we others couldn't see the great deal we were seeing and they accepted!
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21 April 2024 | 12 replies
This criteria is for 1-4 and 5-8 unit programs.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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22 April 2024 | 3 replies
@Davis H Son Jon included a link to a post I made over the weekend.
21 April 2024 | 29 replies
Some rough numbers , Price $520K add 15K closing = $535k New windows and siding $40K = $575k overgrown lot and landscaping $5k =$580K Kitchen , bathrooms , paint , flooring $60k ( on the low end) New deck it was rotten $20K They are now in at $660K This doesnt include holding costs and what ever I missed .
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22 April 2024 | 12 replies
., you sell your investment), you may be able to use any remaining suspended passive losses to offset other forms of income, including non-passive income like W-2 income.It's important to note that tax laws and regulations can be complex, and the treatment of passive losses can vary based on individual circumstances and changes in tax laws.
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21 April 2024 | 4 replies
What are going to be turnoffs:Resident Benefit Package $50, among other benefits includes trash and sewer, and HVAC filters delivered to tenant monthly.
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22 April 2024 | 1 reply
Even shadow lenders, with a growing market share, are poised to seize new opportunities.Embracing the FutureInstitutional investors, including pension funds and sovereign wealth funds, are reawakening their interest in CRE.
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22 April 2024 | 11 replies
Additionally, lenders may consider various factors such as past income statements from the subject property or income statements from similar properties nearby, managed by professionals.
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23 April 2024 | 14 replies
We have many of our clients start with House Hacking including ourselves and no better way to learn about rehabbing a property on how to add value to get the max rents out of your property.