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26 March 2024 | 34 replies
You may be able to delay a little, but in order to achieve it, it will still cost you dearly in other departments, and the tax bill catches up eventually and may end up being more expensive in the long run.
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27 March 2024 | 4 replies
The power in house hacking comes from two main things:- Reducing your housing expense- Primary residence financing The first one, sure I guess you could do that in some kind of commercial space.
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26 March 2024 | 0 replies
The average time to secure a contract showed an increase of 22.2% settling at 44 days.
27 March 2024 | 6 replies
I bought it as a primary residence but it’s sitting empty majority of the time as I work in New Mexico 95% of the time and get per diem to be here which more than covers my New Mexico living expenses.
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28 March 2024 | 20 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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26 March 2024 | 0 replies
The average time it took to secure a contract saw an increase of 8.9% settling at 49 days..
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28 March 2024 | 10 replies
Vacancy is getting expensive on my other rentals so I figured they could manage their own turnovers.
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27 March 2024 | 17 replies
I have no idea what the cost would be for some sort of them spraying stuff all over the place, but it might be a small expense compared to losing a valuable tenant.
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27 March 2024 | 6 replies
It will be much harder and more expensive to finance anything over a 4 units and 5% down won’t be an option.
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27 March 2024 | 9 replies
I use Stessa to keep track of all expenses and comes handy for taxes.