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16 July 2024 | 1 reply
Even for a "simple" garage conversion, there may be structural changes needed to make the space habitable.3.
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17 July 2024 | 4 replies
. - $1k cash flow is unlikely if properly allocating for expenses in these low cost areas on a single unit even if purchasing all cash. 50% rule is aggressive on these lower rent markets.
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12 July 2024 | 19 replies
I am not even sure if they can afford to find another place to move to.
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15 July 2024 | 4 replies
We have chosen single family housing rehabbing (fix & flip) I am looking for mentorship and great people to guide me or even partner with this field.
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17 July 2024 | 20 replies
It's a pain in the *** to even find properties for sale with no MLS.
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17 July 2024 | 5 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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12 July 2024 | 11 replies
This morning I texted again, emailed him and his assistant with no answer.
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15 July 2024 | 10 replies
They may go unnoticed for years - even decades - but when they are discovered, the ending has always been inevitable.
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13 July 2024 | 5 replies
Create 2 LLCs- First create an LLC in an Anonymous LLC State like Wyoming - Then create an LLC in the state I'm buying in, like Ohio- The Wyoming LLC would own the Ohio LLC - When purchasing properties, title deed would show the Ohio LLC name instead of meNegatives:California makes all tax residents register their LLCs with the State, even those formed in different states (and requires you submit the names of the owners) so this would defeat the purpose trying to stay off of public record.
16 July 2024 | 4 replies
Even if you get a title policy you may have a problem which is not covered.