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3 April 2024 | 5 replies
If you talked to a direct/retail lender, their compensation is typically "baked" into the interest rate and is paid by the lender.
3 April 2024 | 16 replies
For example, they are weird about chipping and peeling paint, missing handrails, etc.
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2 April 2024 | 8 replies
If for example I'm creating a B class single family rental, I want to meet EVERY "expectation" tenants would have of a rental of that type.
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3 April 2024 | 0 replies
What are typical lending terms?
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3 April 2024 | 3 replies
The local magistrate will typically hear cases involving local/municipal citations. 2.
3 April 2024 | 2 replies
Hi Felipe,Title & Escrow typically ranges from 0.75%-1.5% of the price, but I'd recommend getting an estimate from your preferred tile & escrow company.
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3 April 2024 | 4 replies
You can typically get a realtor to do a virtual showing for you if the property allows for that.
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3 April 2024 | 9 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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3 April 2024 | 15 replies
Mortgage payments, real estate taxes, utilities, property management fees, landlord insurance, and upkeep and repairs are examples of fixed expenses.
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3 April 2024 | 9 replies
The properties I deal with are buy and hold properties, I typically do short-term & mid-term rentals that is my bread and butter airbnb, vrbo, etc.