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15 May 2019 | 13 replies
What happens if owner does not engage in section 8 certification classes or essentially is disinterested in the program, but, lease ends in several more months?
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21 May 2019 | 8 replies
So anything over $200 Unit A would pay essentially.
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13 May 2019 | 0 replies
Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?
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17 May 2019 | 58 replies
The refi will put cash in your pocket, you’ll be essentially breaking even on rent, you’ll be able to enjoy the appreciation when the time comes and you can always move back in the future if need be.
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17 May 2019 | 8 replies
I figure I could roll that into another income prop and I would essentially be using that $100K as a tax-free loan as it would be $100K less than I would need to finance.
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13 May 2019 | 0 replies
Purchase price (inc closing): 130,000 75% loan = 97,500Renovation: 25k - update kitchen and add a dormer turning top floor into a proper bedroom (currently being used as one as it is)ARV: 190kPotential rent: 1650 - 1900 (friend has property on the same street that rents on the higher end of this range)Montly cost = 600 (capex, repair, tax, management/tenant placement, insurance, buffer)initial invest 25% down + closing + construction = 32500 + 4000 + 25000 = 61500 + carrying costs until its rented (2 months)Refinance @ 70% based on 190 = 133,000 Money pulled out = 133,000 - 97,500 = 35,500; So would I essentially be leaving around < 30K (based on 61,500 + carrying costs) in the deal and the future returns are based on that number essentially?
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17 May 2019 | 10 replies
@Joe Splitrock Of course, and both are essential for good asset protection, but I think a lot of people don't realize insurance only protects your properties from claims stemming from the properties themselves.
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14 May 2019 | 10 replies
What questions are essential in asking a broker and their brokerage services should I be asking to know if they are a good fit for me?
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24 May 2019 | 12 replies
Say you asset A and asset B that perform essentially they same on the numbers & regional growth characteristics, but they are in different states.
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16 May 2019 | 3 replies
If something did come up the lender could essentially foreclose on the property and take the property over to recoup their investment.