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21 March 2024 | 16 replies
One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊 Yes - you should check out DSCR Loans, please see a full 10-part series list of resources below that should help!
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20 March 2024 | 13 replies
Hey @Ryan Marble, it is something that you can do no problem, like the others have said.Regarding figuring out your return, take some time and look at all the listings that would be similar to what you are planning on AirBNB and VRBO.Look at their nightly rates, occupancy and amenities.
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18 March 2024 | 7 replies
Overall I like the program but agree people have too high of expectations and think it's a magical tool that solves every problem.My favorite is when the annual inspection comes through with such detailed line items like "fix door".Literally doesn't tell you what needs to be fixed, what door, etc.
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19 March 2024 | 12 replies
The main items in our renovation are:New water main from curb and valveNew electric service and panelAdd bathroom + convert to full bathLVP in 70% of the houseInterior PaintingAdditional bedrooms in basementKitchenette in basementEgress(x2) in basementOur scope of work should create a great living space for us to grow into, but also provide a rental unit that competes (or even exceeds) the area offerings for medium term rentals.
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18 March 2024 | 2 replies
I have these two listings that have strong upside, and I would love to buy them myself, but I don't have the capital.
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19 March 2024 | 24 replies
Also, look for long days on market, expired listings, etc.
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20 March 2024 | 1 reply
I'm and CA girl who's now in PA... loving nature and excited to expand my contact list and grow my Company portfolio!
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20 March 2024 | 2 replies
There just weren't enough hours in the day to take on more clients, and the feast-or-famine cycle left me constantly on edge.One night, drowning in emails and to-do lists, a thought struck me.
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19 March 2024 | 19 replies
If all they are doing is listing it on Costar and Crexi and twiddling their thumbs, why can't I just do the damn thing myself?