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21 November 2024 | 14 replies
They will evaluate critical factors like land grades, water and sewer systems, and overall feasibility.
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20 November 2024 | 18 replies
I will look at a few factors, rent for area, total mortgage payment with property taxes( which can be crazy in Detroit), investment in neighborhood, I like looking into places where they are building homes and apartments that attract young professionals or families , and also looking at potential to make a single family home into a duplex or something can add an adu or transform a basement to a studio apartment!
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16 November 2024 | 6 replies
You may be able to factor in certain improvements to your personal residence so when you do move out, you can be eligible to depreciate it.
15 November 2024 | 4 replies
What are the most important factors that make a good deal?
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20 November 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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16 November 2024 | 32 replies
No other contibutions and for sure post count does influence others who relate it to credibility.
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17 November 2024 | 6 replies
All of those factors will guide you on doing a buy down.
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15 November 2024 | 4 replies
the short answer is... the deal has to work based on all of the findings and factors.
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23 November 2024 | 38 replies
@Amanda SkipperTo find reliable property managers and agents for remote work, consider factors like experience with investors, local market knowledge, and remote buyer experience.