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2 April 2024 | 49 replies
Common culprits include poorly sealed wax rings, dry traps from leaks or non use, and localized clogs that vent sewer back into the room.
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30 March 2024 | 9 replies
What else would you include in a letter to new tenants?
30 March 2024 | 24 replies
So the $$ to buy the points down looks enticing... plus if you factor in the cost to refi in the future (approx $2500) if the rates drop...
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29 March 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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28 March 2024 | 3 replies
It reflects the average rental income per booked night, including nightly rates and additional fees like cleaning charges, pet fees, etc.
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29 March 2024 | 7 replies
I get that monthly cash flow on the investment property isn’t the only factor and that real estate always goes up and now a days - going forward will probably just go up in a vertical line indefinitely, but if I don’t intend to sell the property due to tax purposes I wouldn’t be capturing the price appreciation, it would be the cash flow. idk, I’m probably overthinking this lol.
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30 March 2024 | 22 replies
Make a list of potential markets and factor in your travel time to and from each time you will need to visit the property.
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30 March 2024 | 10 replies
I would further explain that if more disturbances happen that further corrective actions will need to be taken up to and including eviction.
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29 March 2024 | 6 replies
there are soooo many factors to consider when making the decision you're making, but one thing that's for sure is: HOUSE HACK!
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30 March 2024 | 5 replies
Additionally, follow up with PM to establish their process for passing off the property to include leases, tenant contact, rent ledgers, inspection reports and the like.