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20 January 2025 | 5 replies
You will need probably 20% of total cost (Not including financing costs. 80% LTC) as the down payment.
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17 January 2025 | 2 replies
Amenities include, laundry, assigned parking, and wifi available for each unit.
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14 February 2025 | 161 replies
That includes compounding returns basis.
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16 February 2025 | 61 replies
They have help pages and support.Airbnb has a multitude of problems, including their extenuating circumstances auto refund to guest.Booking.com help I find very useful.
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23 January 2025 | 7 replies
A real estate lawyer can help you navigate the specifics, including ensuring you don’t inadvertently trigger any unintended tax consequences.A few tips to consider:Check with your mortgage lender: If there’s a loan on the property, transferring it to an LLC could violate the loan’s due-on-sale clause.
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20 January 2025 | 16 replies
Quote from @Yaroslav Shtogun: Hello Community,I am seeking advice on the following real estate situation:I’m in the process of purchasing a double lot property (100x100 in an RS-50 zone) that includes a 1,200 sqft wood-frame house and a 640 sqft detached garage.
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19 January 2025 | 18 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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29 January 2025 | 14 replies
that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.
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23 January 2025 | 45 replies
@Jerell Edmonds is right that many of us, including myself, waited because of fear and feelings.
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7 January 2025 | 22 replies
Down payment of $13K including reserves sounds pretty low to me . ( Based on Maryland )