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7 June 2024 | 2 replies
She just moved to another one and my PM hasn't gotten me the name of that one just yet.That's probably not an exhaustive list, even my PM is having a hard time keeping track.
7 June 2024 | 4 replies
Sue them (good luck, even if you win, will they have any assets to attached).
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7 June 2024 | 5 replies
However, most commercial mortgages offered by community banks still demand interest rates of 6.75 - 7.50%, and hard money/ debt funds demand even higher rates.
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7 June 2024 | 3 replies
I allowed him to speak to understand his side of the story but told him even if the accusation was true, he should have spoken with the guy one-on-one.
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6 June 2024 | 5 replies
What I’m wondering is—even though they’re allowed in unincorporated miami dade county—if folks who have applied for licenses in this county are getting obstacles thrown at them preventing them from getting licenses.
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7 June 2024 | 3 replies
And even those aren't really passive because you have to be consistently monitoring the performance of the vehicle to be sure they're not running it into the ground, participating in capital call discussions, etc.
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7 June 2024 | 8 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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
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6 June 2024 | 8 replies
even in lower cost markets.https://www.biggerpockets.com/forums/12/topics/1171104-the-m...and - i still think it's better to pick a market that you have a connection to rather than one that meets arbitrary numerical criteria.
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6 June 2024 | 1 reply
Fortunately, all three inspectors (from different departments) were very supportive and one inspector even stated they will not return, even if another complaint is filed.I want to offer a cash-for-keys option, but since the tenant's attorney is from a nonprofit, I feel she will fight for her tenant to stay.
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6 June 2024 | 9 replies
I'm looking to purchase my first short term rental in an expensive market and was wondering about how many people are able to manage their own properties even potentially clean, fix them.