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20 January 2025 | 32 replies
If you are worried about out of pocket costs, see if maybe a rehab loan is an option to get everything needed done now and refinance in 3 months when everything is complete.
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6 January 2025 | 7 replies
DSCR Loans - Both Purchase and Cash Out Loans- Investors typically use these on the cash out portion of the BRRRR Strategy - Minimum Downpayment, usually 20% but some lenders offer 15% down - Max LTV on Refinances, typically 75%, but some lenders will do 80% - Minimum Title seasoning (since the property was purchased and recorded on county records) is 90 days, although some lenders have no seasoning at all as long as you can show rehab work completed. - 30 year fixed terms - Usually have a Prepayment Penalty from 1-5 years, although you can price out a 0 PPP for a higher rate or fee- Minimum Credit score is 650 usually, although you could do a lower LTV loan at 620.
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14 February 2025 | 161 replies
Class A neighborhoods are completely unviable as investments, even B+ makes almost no financial sense.
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6 January 2025 | 2 replies
The checklist here acts as a roadmap, ensuring that nothing is overlooked.Knowing when your due diligence should be completed or when to close or extend your contract is of utmost importance.
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9 January 2025 | 9 replies
Many hard money lenders will offer the best terms once you get 5 "completions" or "exits" from hard money loans (sell the property or refinance out).
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9 January 2025 | 4 replies
My recommendation would be to get approved as a Landlord, contact the director's office and request that an inspection be completed before a tenant is selected (sometimes they will do this as long as you select a tenant within 14 days - which you want anyways), and have an online application and screening resource in place.
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5 January 2025 | 7 replies
It is an old house but has been completely gutted and rennovated in a Midwest state with a flatline population growth.
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6 January 2025 | 77 replies
I completely agree with removing Reverse Trolling in a clearly defined form.
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25 January 2025 | 25 replies
It’s s about knowing how to position yourself in markets where demand remains resilient, even when global STR margins are tightening.So yes, I completely agree that the game has changed, but for those willing to tackle the hard stuff in overlooked international markets with large American populations, the opportunity to combine cash flow with long-term appreciation is very much alive.
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6 January 2025 | 2 replies
After putting about $50k into the property, I’m just about $25k from meeting my completion goal that includes stucco, drywall, and siding.