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11 August 2008 | 11 replies
This is what it looks like.6plex Sales Price $325,000 Loan Amount $260,000 Interest Rate 7.125%Term in Years 30Loan to Value 80.00%P & I $1,751.67(This loan is through an Alaska housing program for which both this property and I qualify for.)Total Rental Income $57,600 Less Vacancy 10.00% -$5,760Adjusted Gross Income $51,840EXPENSESTaxes $4,584 Insurance $2,580 Utilities including Refuse/Cable $9,661 Management $4,725 Maintenance & Repairs $1,000 Replacement Reserves $1,800 Miscellaneous $1,000 Total Expenses $25,350 Net Operating Income $26,490 Total P & I $21,020 Net Cash Flow $5,470 = $455 per monthI know that the cash flow doesn't look that great with the property management cost but it is required to be factored in for this program.
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17 June 2008 | 1 reply
The main advantages of this practice are that you can communicate with larger numbers of people simultaneously, and much of the work can be automated by designing a web page with a sign-up link and an auto responder.
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19 June 2008 | 5 replies
Well the FHA has a lot of different mortgage programs, but as general rule, most first time home buyer programs are designed for owner occupants.
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21 June 2008 | 23 replies
1) Hire a property manager (or be prepared to work very hard)2) Make sure maintenance costs are factored into your analysis/plan for acquiring each property
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13 May 2016 | 67 replies
I have been a real estate and mortgage broker for almost 2 decades and I am having to reinvent myself and my business ~ so I have been devouring every little thing I can get my hands on, and hopefully this will fill in the crevices that need filling in to automate my business and develope an online presence ~ which he promises to help you do as well as design, develope and host a FREE website for you for one full year.
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20 August 2008 | 7 replies
One of the most important factors in retail commercial is traffic count combined with road access.For other types of commercial (industrial, manufacturing, etc), the most important factor is zoning combined with supply.The size of the parcel and how much developement it will need affect the price greatly.
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9 July 2008 | 163 replies
It's more about the fact that none of us want to back down after all this debating and let the other side feel they've "won"...and that's okay, it's pretty much what the Internet was designed for
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4 July 2008 | 13 replies
I use a pretty simple website I designed on my Mac to provide info on my properties.
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19 August 2008 | 60 replies
Because the degree is mainly for my own education as well as a very basic backup, the prestige of the university was not much of a factor.
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13 July 2008 | 19 replies
Rather confusing how a deal can go from good to bad, without any of the factors changing.