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10 December 2022 | 5 replies
Nothing would be a deal breaker alone, but factor this level of expertise in when evaluating the complete picture.For example, a big problem that I've seen is if a single tenant building is applying with a regular lender, sometimes they apply a vacancy to their own DSCR (Debt Service Coverage Ratio), and they apply a vacancy factor for a single tenant building, which is just wildly inappropriate.
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21 December 2022 | 7 replies
Remember relationships are built over time, so it may take 3-5 years of solid membership and interacting with your bank before they know and trust you enough as one of their regulars.
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15 December 2022 | 4 replies
This info will give you a decent idea of what to expect and help filter down your search to a few cities.Some of the metrics that the survey provides and that I find valuable to understand are:- Population - Home Values- Household Incomes- Rental Vacancy Rate- Homeowner Vacancy Rate- Poverty Rate- Educational Attainment Rate (High School/GED & Bachelors)- Number of Housing Unit- Rent to Income Ratio- Rent to Price Ratio- Population on SNAPS (supplemental nutrition assistance program) percentage- Property Tax Rate- Median Age of Buildings- Number of Structures by Units (SFR, Duplex, Triplex, Quadplex, etc...)- Median Rents by Number of Bedrooms- Unemployment Rate- Employment Sectors Percentages These are just some of the indicators that will help you understand the quality of an area as well as the kinds of returns one is to except.Also take into consideration the direction in which each of these market indicators are trending.
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10 August 2022 | 7 replies
Schedule open houses regularly (believe it or not, I schedule daily showings at a fixed time) - Your desired tenant is probably looking at other places so make sure they can see your house when they are available.4.
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19 December 2022 | 3 replies
Taking a quick look at Form 4868 seems to support this (though maybe you can avoid the late payment penalty if at least 90% of your total tax had been paid by the regular due date): https://www.irs.gov/pub/irs-pd...Here are the relevant form instructions that I'm referencing:InterestYou’ll owe interest on any tax not paid by the regular due date ofyour return, even if you qualify for the 2-month extension becauseyou were out of the country.
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20 December 2022 | 8 replies
If they have interest in being the bank, we discuss further.A regular PSA is submitted like normal with a method of payment or SF addendum.
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5 February 2017 | 57 replies
If you are relatively debt-free (minus a mortgage), if you plan large expenses several weeks or months ahead of time, and can control your business expenditures, you are much more likely to succeed.DON'T start wholesaling without regular full-time employment.DO start wholesaling if you have a back-up plan.
29 January 2020 | 87 replies
Once you get them they do not report to your personal credit and don't care about high percentage use as long as you pay them back on a regular basis and I always pay more than required.
15 April 2021 | 37 replies
I follow up regularly with my lender and push asking to improve the date to keep up the sense of urgency.
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17 December 2022 | 5 replies
If you want to be close enough to see them on a regular basis then that would make your house hunting more specific.