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27 September 2024 | 8 replies
All roommates would be paying rent.
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27 September 2024 | 9 replies
But, I'm going to need to do the networking myself to build partnerships with local vendors and source merchandise, and all they'd be responsible for is letting me know when it needs to be restocked.
27 September 2024 | 1 reply
He owns all of the properties free and clear, with no more mortgages.
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27 September 2024 | 44 replies
There's a severe lack in proactive support and you're left wondering if they value you at all.
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28 September 2024 | 8 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).
27 September 2024 | 0 replies
Hey all, I'd love some insight into real numbers of what you all have seen/heard about renting to Dunkin.
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19 September 2024 | 8 replies
This was the left over allocation after all other needs were met.6.
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29 September 2024 | 5 replies
@Kate LaveryHi Kate,I don't have all your answers... but I can tell you that if you physically received the $500,000 (cash, check or what have you payable to you) on the sale of your property - it won't fly as a 1031 exchange.
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18 September 2024 | 4 replies
One key component is making sure there is language that outlines how the purchase price is reduced if a payment is received BEFORE the closing.
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29 September 2024 | 24 replies
I'd love to hear if you all figure it out.