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19 December 2024 | 25 replies
Some of us are business minded and strive to add value beyond basic compliance and planning (which it doesn't even sound like you're getting planning here).
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14 December 2024 | 22 replies
The ones I manage total to 20 bedrooms.These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes.
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19 December 2024 | 5 replies
if i buy a rent ready house off the MLS, and put it under management with a good PM... that's basically turnkey too just without the label and the provider.one thing i notice on BP is how many new investors think they're being guaranteed outcomes rather than processes.
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10 December 2024 | 11 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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9 December 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).
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14 December 2024 | 4 replies
I'm already familiar with some of the basics of how the markets differ, but I'd be curious to hear what some of you have experienced in regard to any unexpected differences between them.
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18 December 2024 | 25 replies
Basically every personal house we ever owned except this last one which we built from scratch.
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7 December 2024 | 9 replies
Hope this exercise illustrates the fact the BRRRR and cash flow are not always indicators of success and far less time could have been invested to achieve a more favorable result by purchasing in Market A at the start.
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13 December 2024 | 20 replies
It should include a few exhibits attached like a scope of work, a blank change order form, a final layout illustration, and a lien waiver (for the final payout) that they sign before starting.