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3 February 2024 | 11 replies
I should have included DOMs there but most places are seeing increase from ~10 days to ~18-30 days.On a side note.
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2 February 2024 | 5 replies
It looks like we will need to update our drawings to include the new 4th unit (adding the kitchen and bedroom closets) and apply for another permit.
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2 February 2024 | 6 replies
Hi there,I have a property that's in an LLC and has been used as both a longterm rental as well as a primary residence (this includes 2 years total within the past 5).
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2 February 2024 | 4 replies
Frankly it’s gonna be hard to cash flow anywhere Lancaster included for the most part, so the next best thing is trying to go for some appreciation, but that’s not just buying a house & hoping it goes up it’s really understanding your local dynamics and where at least has a good chance of going up, like is one neighborhood 100k more than the neighborhood next door, does that make sense?
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2 February 2024 | 24 replies
My area also includes the ski mountains, Sugar and Beech.
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1 February 2024 | 0 replies
14k spent on renovations including new floors, paint, and light fixtures
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2 February 2024 | 9 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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2 February 2024 | 5 replies
The experience was very poor and began with a lengthy application, asking for all sort of documents including tax returns, rental schedule, voided check, credit check etc, just to get a pre approval letter.
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1 February 2024 | 0 replies
This tool can help estimate the total expenses associated with property management, including monthly fees, maintenance costs, and vacancy expenses.What is Included in Property Management Fee?
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2 February 2024 | 1 reply
Leases that were M2M, were brought to market rent and charged a utility charge-back fee.Plans to remodel units as they become available, include enclosing a 1 bedroom with a deck and converting it to a 3-bedroom unit.