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6 March 2018 | 2 replies
It’s definitely a long term hold but a reservation of mine is, in ~2 yrs will the rent cover the mortgage payment and cash flow.
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10 March 2018 | 7 replies
If you went the VA loan route and it's in a good location with strong rental characteristics, you may decide that you're willing to cover a couple hundred bucks out of pocket each month because you didn't have to put 20% down.If it's burning through a lot of cash each month that you can't cover out of your budget or other rentals, you'll have to look at how much equity you have, what you could sell the property for, and what you'd clear after expenses and fees.
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7 March 2018 | 6 replies
Is there anyway you could have the seller cover any of it?!
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31 December 2019 | 9 replies
As soon as you make additional payments beyond loan interest (i.e. loan repayment, capital expenditures) then there is no guarantee you will have positive cashflow.So the quick rules of thumb for guaranteed positive cash flow are:cap rate is greater than interest rate (you've got this)the difference between cap rate and interest rate should be large enough to produce cashflow to cover loan repayment/amortization and capital expenditure plus some amount left over for the investor.if you're in a deal where you're financing with interest-only loan payment and there is no capital expenditures, then YES cap rate being higher than interest rate would very likely produce positive cash flow.Cheers...
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11 March 2018 | 12 replies
I have felt like that seller-just make sure your bases are covered.
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6 March 2018 | 0 replies
I mentioned to them their renters insurance may cover the food .
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7 March 2018 | 5 replies
So the way around it is to get a property manager, which costs you 10% of rents in fees, so you'll be covered under the PM's E&O insurance.
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13 March 2018 | 6 replies
To be honest, it was more difficult than I expected and there was quite a bit of material on the test that was not covered in the class.
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12 March 2018 | 18 replies
Title insurance would have covered that.I bought a property that was part of an estate in 1898, there were four heirs, but only three heirs singed the deed.
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9 March 2018 | 2 replies
Basically I have most of the bases covered in understanding what needs repaired and costs/risks associated with those repairs.