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28 June 2024 | 18 replies
This will be used for repair cost and down paymentAny advices going forward?
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25 June 2024 | 0 replies
This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.
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28 June 2024 | 7 replies
You will cut your cost of living down, and build equity at the same time.
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25 June 2024 | 0 replies
This deal showcased our effective renovation strategy and commitment to delivering profitable outcomes.
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28 June 2024 | 13 replies
My point is that in a market where overall demand is unbelievably strong, the opportunity-cost numbers are not that strong for an all-cash, or any for that matter, acquisition relative to past history.
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26 June 2024 | 2 replies
The company's legal counsel has said a guarantor is not needed, citing the company's annual revenue and an employee, effectively, being unwilling to cut a check on behalf of their employer.
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28 June 2024 | 1 reply
My plan is to use FHA, 3.5% dp, seller covers closing costs.
26 June 2024 | 4 replies
Look into their marketing efforts, tenant screening processes, and response times.Service Audit: Conduct an audit of the services provided by Ace Management and Reality to ensure they are actively marketing your properties and maintaining tenant relations effectively.4.
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26 June 2024 | 33 replies
The Geodomes and other smaller structures seem to be the more cost effective strategy.
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29 June 2024 | 4 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.This example shows that while the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.