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1 April 2024 | 10 replies
The application includes a background report and credit report.
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4 April 2024 | 12 replies
Hi @Ricardo CamachoClosing cost distribution should be included in your purchase contract.
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3 April 2024 | 0 replies
Wholesale Deal under contract in Bryan ,txit is a vacant trailer on a lot both owned by the Ownerunder contract for 55k needs 10k to repair get it rented outall together 65k to get the property and get it operational investor next door door similar situation got the trailer and lot for 64k repairs included.
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3 April 2024 | 17 replies
The determining factors on which markets to consider investing include: a stable and diverse economy, low property taxes, landlord friendly laws, job growth, population growth and a business friendly climate.
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3 April 2024 | 9 replies
Also, I no longer include utilities in my longer leases.
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4 April 2024 | 32 replies
(That guy got a quick "Non-Renewal" notice, and left everything in the unit but the clothes on his back, which included some 50 contractor bags full (Tenant didn't fill the bags, our guys did!)
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3 April 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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3 April 2024 | 8 replies
Each of you will report 50% of the property on your individual tax returns.
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3 April 2024 | 6 replies
I also have a partner with a full time job and great credit score as well, so maybe my best option would be to include him and have him apply for the mortgage.
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2 April 2024 | 2 replies
Why did the lack of cold water take two months to report?