Malcolm Brown
Newbie to Real Estate Investing - Any Tips...
29 January 2025 | 24 replies
To qualify for a loan, focus on having a credit score of at least 620 (or 580 for FHA loans), keeping your total monthly debt under 43% of your income, and saving enough for a down payment and closing costs—about 5-10% of the home's price in total.
Christopher Hu
First Rental Property listing questions
29 January 2025 | 5 replies
Let the cable company chase the tenant for payment of that service.Yes, require renters insurance.
Godsheritage Adeoye
How to takeover Subject to loan
3 January 2025 | 7 replies
Do they use a servicing company to make the payments directly to the , or do they make payments directly to the seller and hope they pass them on to the lender?
Kyle Carter
Screening tenants effectively
7 January 2025 | 5 replies
Hello Kyle,When screening applications for the properties that I manage, I always look for:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)I have found this screening standard very helpful when finding tenants who pay on time and treat the property well!
Paul Lucenti
Maximizing monthly cash flow per unit
28 January 2025 | 27 replies
It's not that Stu has tried and failed with this asset class, but he is pointing out that you have very preliminary understanding of investment principles and should look to expand your knowledge before being accountable for OPM. the fact that you're confusing mortgage payments with T&I impound is indicative.
Joseph Beilke
Costa Rica Info
11 January 2025 | 11 replies
We will either bring on another investor each year to make the yearly payment or we will just forgo the income payments to the partners and make the yearly house payments out of the cash flow if we just want to keep the property with only 7 investors.
Dave Allen
If you magically had 100,000 to invest...
15 January 2025 | 24 replies
House hack another property with a low down payment loan and use the remainder or the proceeds to either renovate or purchase another investment property?
Noah Bacon
BiggerPockets Pro Partner Update - Stessa!
15 January 2025 | 49 replies
I was getting ready to do this but if I can get ALL of the same features, not lose any previous data, AND get my BP Pro membership all for the $32.50 per month, I'm willing to do that.Who could I speak with to help me get the information that I need because I need to make a decision in the next two weeks before my annual payment to Stessa will be due.
Brandon Blackmon
Rates for a GC
1 February 2025 | 13 replies
@Peter Mckernan Copy.... it's a "% based payment" off scope of work.
Tayvion Payton
Investing in MultiFamily
12 January 2025 | 20 replies
You might get these days 60% leverage so you'll likely need 40% down payment plus reserves and the financial institutions will want you to keep those capital reserves in their institution.If you are a new investor, there's a couple of opportunities to get started.