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24 April 2024 | 0 replies
I am looking to have a fan installed in the bathroom of one of my units however there is no switch in the bathroom so I would also need that done, I was wondering if anyone has recommendations for contractors.
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24 April 2024 | 7 replies
I focus on 1-4 units in the Cleveland, Ohio market.
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26 April 2024 | 40 replies
bought my first house, a triplex and then bought 3 more properties (6 units) within two years.
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26 April 2024 | 21 replies
However, we want it to at least break even when we move out and rent out all the units.
24 April 2024 | 5 replies
Asking is $200K, my relative (buyer) looking to put 20% down.He is pre-approved for the amount, lender has prepared both a conventional loan and a mass housing loan option for first time buyers.Would be purchasing as an owner occupied "primary residence", rates are decent under both options.Condo is currently rented, tenant lease expires the end of August - roughly 4 months.Lender says both loan programs require buyer to occupy the unit within 60 days, to qualify for first time buyer deals.Is there a way to get them to extend this to 120 days (4 months) until the tenant lease is up?
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24 April 2024 | 3 replies
I am a Real Estate Developer and multi-family investor based in Toronto, Canada, with over a decade of experience in these asset classes and a portfolio spanning 900+ units.
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29 April 2024 | 113 replies
I´ve had people on calls tell me they want a class A- 20 unit in six months, no money down, no experience with enough cash flow to fire their boss.
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22 April 2024 | 12 replies
You can ask at your county to see if they or anyone else around teaches the basics.I've been to several of the free pitches of the national touring acts...and most gave enough wrong info that it wouldn't make sense for most people to take the class or pay additional money over the free pitch to get started.
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24 April 2024 | 39 replies
I live in one unit and AirBnB the other.
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25 April 2024 | 15 replies
This criteria is for 1-4 and 5-8 unit programs.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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.