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15 May 2024 | 10 replies
I have family members who started in REI (to varying degrees of success) and have always wanted to enter in myself.
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15 May 2024 | 14 replies
There are lenders that will go down to 620 for your middle mortgage FICO credit score with more money down and lenders who will do 15% down for a single family with 720 and above with a 1.2 DSCR ratio (more on that below).
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16 May 2024 | 20 replies
If you want to get into multi-family underwriting, I suggest the following YouTube channels:https://www.youtube.com/@BreakIntoCREhttps://www.youtube.com/@tacticareshttps://www.youtube.com/@adventuresincreBreak into CRE has some VERY affordable courses on underwriting Excel underwriting models.
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15 May 2024 | 5 replies
But, if you are in a more "value" oriented neighborhood, this could work.Alternatively, on the single family side, I converted what was a 3 bed (granted the third bed was originally the garage) back into a 2 bed.
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15 May 2024 | 7 replies
My sister in law and husband recently moved to LA into a single family home which is broken out into two units (upstairs and downstairs).
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15 May 2024 | 10 replies
Trying to assess when it's time for us to set up family trusts/new LLCs/registered agents etc...obviously it's a big cost, but makes total sense.
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15 May 2024 | 11 replies
The family knew it and did not expect much out of the property.Even though they had an agent in the family, they were looking for a quick cash buyer.
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15 May 2024 | 6 replies
Hi Tax masters,I have a question about the county mortgage tax when purchasing a property.I'm quoting a mortgage from 3 lenders for a small multi-family in Bushwick/Ridgewood area (Brooklyn NY), and one of them estimated the county mortgage tax in their quote when the other 2 didn't.If anyone has some knowledges to share with this, I would appreciate it.
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15 May 2024 | 8 replies
Once that's done I won't stop but at least I can look at small multi families before looking at bigger unit buildings.
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15 May 2024 | 6 replies
I need some advice on the following situation.I am sorry for asking such a basic question, but unfortunately, I am still new to this and never dealt with this type of scenario before.I have a single family home that is part of an HOA.My main goal is to protect the asset and avoid any potential financial loss as much as possible.The current lease agreement states that the tenants are responsible for mowing the grass.They are also responsible for paying any HOA fines, etcUnfortunately after multiple attempts to get through to them to cut the grass, the grass was never cut and the yard is getting worst and worst.They also refuse to turn on the sprinkler system which is causing the grass to slowly die.