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6 February 2025 | 12 replies
If each property costs $200,000 and your only acquisition cost is a 25% down payment, you will need $850,000 (17 × $200,000 × 25%) in savings, an almost impossible amount for most people.
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3 February 2025 | 6 replies
Any reason why you need a "private person" here?
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14 February 2025 | 0 replies
Nevada #1 in Car Ownership CostsNevadans pay the highest car costs in the U.S. at $6,120 per year, with insurance alone at $3,439.
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29 January 2025 | 9 replies
What happens if you buy the SFH and hate renting it by the room but the cost to maintain is too much by yourself.
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7 February 2025 | 6 replies
Can you give more details on your numbers, purchase prices, rehab costs, time to complete rehab, ARV, monthly rent?
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7 February 2025 | 5 replies
At this point since it's after the fact while not totally correct; you may explore adding the missed asset/basis amount as a selling cost to just reduce your gain.
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8 February 2025 | 18 replies
The longer you hang out on the bridge the more it costs you.
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11 February 2025 | 6 replies
What is the cost, and what does it cover?
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18 February 2025 | 6 replies
As long as your purchase, rehab and closing costs fall below 70% ARV then you won't have to bring any cash to close.
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18 February 2025 | 2 replies
This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.