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28 March 2024 | 3 replies
Maybe the loan shows up on your credit report and tilts your debt utilization to a point that makes the lender feel uncomfortable.Can you share some details about the deal?
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29 March 2024 | 4 replies
Any deductions (including mortgage tax, insurance etc.) added there was split accordingly and corresponding amount was shown under rental deductibles.
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28 March 2024 | 5 replies
Hey @Allan Pan, A lot of times my clients and myself included have a hard time setting realistic expectations, and/or accepting "ideal scenarios" don't exist.
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28 March 2024 | 9 replies
I would like to sue and also report the owner (licensed broker) to the state (Wisconsin).
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29 March 2024 | 1 reply
Subsequently, we discovered multiple leaks in the roof, resulting in water damage, including mold growth in our closet.
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29 March 2024 | 8 replies
We have at least 2 rehabs under our belt but this house needs literally everything including some foundational repairs.
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29 March 2024 | 7 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.
29 March 2024 | 4 replies
People who don't own dogs casually call about a dozen different breeds "pitbulls," including some boxer mixes.
28 March 2024 | 2 replies
I am including an itemized list of repairs next page.Thanks,Dear [Tenant],This letter is regarding your security deposit of $X for the property located at [address] for the lease period of Jan 2023 - 2024.I am deducting $X from the security deposit for charges listed in the Resident Responsible Charges document.
27 March 2024 | 9 replies
Per the Participation Agreement all insureds sign, we are a monthly reporting program and are required to provide a 30-day notice outlining any coverage or cost changes, which was sent via email.