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19 December 2024 | 21 replies
Like @Sarah Miller and @Marcy Albrecht said, you can buy places within the city limits but it's still about location. with that said, i'm always looking out for my end game. one of the issues with buying in certain parts of canton is that when you decide you're done, you may not be able to unload your properties.
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20 December 2024 | 9 replies
BRRR can definitely seem like a beast at first, but once you get rolling, it’s a game-changer.
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18 December 2024 | 7 replies
These types of loans typically require at least a 10-20% down payment, as lenders want to see that you’re financially committed to the project.There are ways to get creative but they still require some form of skin in the game.
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22 December 2024 | 23 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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21 December 2024 | 11 replies
Within a year, the property was cash flow positive and had appreciated significantly.For you, I’d suggest:Look into ADU laws - They’re a game-changer in San Diego, especially if your partner is handy with renovations.Expand your market - @Dan H. makes a great point - it's a competitive market here!
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19 December 2024 | 82 replies
Follow Createdinero and intelligentcredit for free game and breakdowns on this.
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18 December 2024 | 6 replies
A good number of homeless veterans also have mental health concerns, varying in degree.
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18 December 2024 | 15 replies
@Shaheen AhmedI don't know the Ohio markets as well as I know Pennsylvania but (1) taxes can vary widely among counties, cities, municipalities, etc. and (2) the problem right now is that interest rates are so high (although taxes and insurance increasing certainly doesn't help.)What are you trying to accomplish?
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21 December 2024 | 6 replies
I recently came across a piece in Forbes talking about how quickly rental dynamics can evolve when population growth spikes.I’m based in Phoenix and have been in the real estate game for three decades, and a close friend of mine recently reminded me how the right connections can shape your entire strategy.
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18 December 2024 | 9 replies
Gotta have some skin in the game.