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1 June 2024 | 6 replies
We also require being added as additionally insured on the policies.
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3 June 2024 | 1 reply
I am close to the owner so I can discuss options.These are details and some rough numbers: - Location: Vienna , VA - No mortgage on house (free and clear)- Purchased year: Around 1980- Purchased price: around $50,000- Type: 3 bed - 2 1/2 bath single family- Market price: $920K (not appraised yet but numbers from Zillow)- Market rent : $3,400/mo (from BP Rent estimator)- Insurance $2,000 /yr- Taxes $9,300 /yr- Management $3,260/yr (I do not want to manage )- Repairs: TBDThe numbers do not work with conventional financing (20% down, 7% interest, 30 yr) so I want to think of creative financing ways.
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5 June 2024 | 8 replies
Other platforms that do the same are include RentRedi, Stessa, Avail, Innago, Apartments.com (formerly Cozy), and TenantCloud.If you want to go a more traditional sense and work with a more mature platform that doesn't bill your tenants you might look into Rentec Direct, Buildium, Appfolio, Propertyware, or Rent Manager.The best way for you to figure out which is going to work best for you is to explore their free trial (if offered).
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3 June 2024 | 47 replies
In PA the water company offers sewer and water main insurance protection.
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3 June 2024 | 0 replies
Additionally, getting the insurance sorted was very difficult since he had a lender placed policy.
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5 June 2024 | 3 replies
Increasingly Non-QM or non-conventional lenders (not Wells Fargo or Citi/Chase) will offer International investors financing from 65-80% LTV on SFR & Condos and 65-75% LTV on 2-4 units.
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5 June 2024 | 4 replies
If you want to BRRR there are lenders who will offer you a hard money loan that converts to DSCR once your renovation is complete (and it will save you some money in origination fees staying with same lender).
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4 June 2024 | 0 replies
Here is a brief look at what is on offer out there:➡️ Agency loans as mentioned, such as by Freddie Mac and Fannie Mae.
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4 June 2024 | 8 replies
Additionally, other lenders are offering either a 70% LTV or unfavorable rates at 80%.
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4 June 2024 | 9 replies
You'll find some crime as you would with a more affordable area but overall it offers good rents in a time where rents are at historic highs.