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2 July 2024 | 0 replies
The rate difference between FHA and Conventional is actually over 1% right now for Multi family propertiesCurrently the rate offered is 6.75% and 193/m in PMI (private mortgage insurance)That makes the payment with taxes and insurance roughly:$3453/monthTaxes were $3820, and insurance is $1800/yrCurrently this building can rent each 2 bed unit for up to $1800/m with tenants paying all utilities.All in cost to close is: $71,414.64If you rent both units for $1800/m you can expect gross cash flow of $147/mThis is the reality of buying a turn key duplex in the area using todays rates and prices.I want to stress, that this is actually considered a great property and deal in todays market for the areaYes, prices are high, and so area rates...My goal is to show what is actually going on.
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2 July 2024 | 1 reply
Winner bidders pay the taxes each year unless and until there is a redemption.
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2 July 2024 | 10 replies
The government for my tenant is paying the full rent amount due to low income.
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30 June 2024 | 54 replies
Probably also safe to assume it wasn’t investors bidding it up and most buyers aren’t investors and the buyers willing to pay the most aren’t investors.
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1 July 2024 | 6 replies
You don't evict people unless they are not paying rent, you simply give them notice with the legal amount of time required (which varies by area) to move out-more time is fine.
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1 July 2024 | 12 replies
If you are an LLC, then if you use your personal credit card, you would then have to pay yourself from the LLC for what was purchased on the credit card, and you personally would need to provide your LLC with a receipt.
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2 July 2024 | 11 replies
It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.
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2 July 2024 | 12 replies
If you are wealthy enough to pay cash the returns very well may be there.
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1 July 2024 | 13 replies
You'll have to pay to post, it's $69/month.