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23 October 2024 | 10 replies
When I asked Amy about this she sent this to me in her reply threatening financial ruin on me and my family if I complained to the BBB (no idea where she even got this from), but this should tell you all you need to know about this company:"Our Corporate Attorney wants to make it very clear to you, Jason, if you complain to a 3 rdparty or post anything negative online about the company, associates, or coaches you areintentionally maliciously defaming our company and since our reputation is veryimportant to us that leaves us no other option than to have our Corporate Attorney sueyou for Defamation and/or Fraud.
24 October 2024 | 18 replies
This is mind blowing, I'm for sure just going back to the plain jane WI realtor association residential lease contract.
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21 October 2024 | 13 replies
I recently attended a meeting with the Council or Elite Property Managers at the Pikes Peak Association of Realtors in Colorado Springs and was shocked at how many property managers were stating vacancies of over 5% - 7%!
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16 October 2024 | 4 replies
@Adolphus Fletcher For multifamily investing, most real estate investors typically use an LLC for several reasons:Liability Protection: LLCs protect your personal assets from lawsuits or debts associated with the property.Pass-Through Taxation: Income and losses from an LLC pass through to your personal tax return, avoiding double taxation seen in C-Corps.Flexibility: LLCs allow for flexible management structures and are easier to maintain than corporations.Anonymity: In some states, LLCs can offer a degree of anonymity if you use a registered agent and form the LLC in a state that doesn’t require public disclosure of members, such as Delaware or Wyoming.S-Corps are should be avoided for real estate investing because of various reasons.
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20 October 2024 | 13 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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19 October 2024 | 5 replies
I recently graduated from the University of Washington with an engineering degree and will be starting my first full-time corporate job on the 23rd of this month.
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22 October 2024 | 14 replies
How long would it take to get a new tenant and what's the cost associated with that vacancy?
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17 October 2024 | 4 replies
The other side that they don't live in is kept between 68-73 degrees throughout the year depending on the season.
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19 October 2024 | 16 replies
During my journey to obtaining my degree in real estate financing, I have found that single family homes cause a great financial burned if the tenant decides not to pay their rent.
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25 October 2024 | 14 replies
Don't borrow money from HML associated with the wholesaler 2.