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26 February 2024 | 5 replies
Here's what auction.com said about the transaction details: "Buyer will not be charged a Buyer's Premium for this property.If you are the Winning Bidder, an Earnest Money Deposit of 5% of the total purchase price or $2,500 (whichever is greater) is required.Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property).
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26 February 2024 | 4 replies
Not to mention, I find it much easier to negotiate contingencies, extended settlements to sort out zoning or other items and even settle with permits in hand with MLS listed properties which is undervalued by most but can greatly reduce your transactional costs and open the door to better financing options.
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26 February 2024 | 25 replies
If you go to a lower tier destination to find cheaper real estate you will find also get lower revenues.I would advise to focus on the long term appreciation of the purchase instead of the cash flow!
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26 February 2024 | 2 replies
Look for a RE attorney experienced with those type of transactions.
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27 February 2024 | 6 replies
Here are some considerations for investing in a duplex in the Dallas area and potential alternatives:Investing in a Duplex:If you rent out one property, you can possibly create positive cash flow by partially offsetting your living expenditures.If you're an investor with limited funds, duplexes could be a more accessible alternative because they may have lower entry expenses than bigger multifamily properties.Perform in-depth market research in the Dallas region to pinpoint communities that have high demand for rentals and good prospect for real estate growth.Take a look at owner-occupant-friendly financing choices including FHA loans, which frequently have less down payments.Make sure you have a well-defined escape plan.
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26 February 2024 | 5 replies
Yeah I tend to agree that the rent estimator here is usually showing lower numbers compared to Rentometer
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26 February 2024 | 2 replies
This will have a significant impact on your loans, especially on lower balance loans or loans with low payments.
27 February 2024 | 13 replies
So, even if a state's laws allows a landlord to do this on their own in my opinion it would still be advisable to go to court because lower level courts can be accessed quickly within a few weeks max in most cases.
25 February 2024 | 7 replies
It’s just not smart.Second, with an FHA loan, any title company that handles the subto transaction is ignorant of the regulations/published guidance which forbid it.
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26 February 2024 | 13 replies
- househacking is really designed more to LOWER your personal cost of living vs eliminating it, let alone cashflowing. you CAN achieve cashflow, it's just harder. look into STR'ing or MTR'ing some of the units. - i personally think 2% for LTR vacancy works in most markets.- the rest estimator doesn't work well in less-populated areas. i use facebook marketplace to find 5-10 comps and average them. - COCR isn't as applicable with househacking because of my first bullet point & because it doesn't factor in that you're also saving on your personal cost of living. many investors shoot for 10%+ COCR with a traditional rental property that they're not househacking.