The lender is required to sell the property for at least 95% of a current fha appraisal, if the property is upside down, in order to be reimbursed by fha, the insurer.

Operating expenses include water ($480/month), insurance ($150/month), trash ($60/month), and property tax ($256).We'd like to offer asking price at 6% amortized over 30 years with a balloon at 5 years.

I recently went to one and networked with other investors who were: realtors, insurance agents, contractors, etc.

I paid taxes and insurance.

You also have to take into consideration these expenses:  Monthly management fee, utilities, insurance, repair reserves, taxes, HOA fees, once a year deep cleaning fees etc.

There is not typically an inspection clause.....read the auction terms, talk to a rep.....do Not use their title co. for the “free” title insurance, it isn’t really free as they tack on a bunch of junk fees and their title insurance typically has extra exceptions in the B Exceptions.

I don't get why this helps--if you get title insurance AFTER bidding, won't the title insurance still cover all the leans/unpaid taxes?

I don't have any rentals yet, how would I estimate the insurance?

If you have a vacant property and pay me a property in disrepair and it's not feeding you income, you’re getting eaten up with property taxes with insurance, water bills, grass cutting, snow plowing, repairs and city violations.

RM lenders must not accept less than 95% of a current fha appraisal......in order to be reimbursed by fha, which insures the loan.