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19 September 2024 | 1 reply
For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.
20 September 2024 | 7 replies
You can still depreciate the property, perform a cost segregation study if applicable, and deduct ordinary and necessary expenses related to being a landlord.
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20 September 2024 | 9 replies
In 10 minutes of looking at your application they can tell either "This will work", or "You need to fix these things before it will work."
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20 September 2024 | 9 replies
I am preferential to medium/long term rentals so my exit strategy would not be applicable for many years.I make a comfortable living and have a surplus of money saved up but don't want to liquidate my entire savings accounts so I can get just one singular 200K property that may cash flow for a couple hundred bucks over the next few years.Am I missing something or being overly cautious?
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22 September 2024 | 15 replies
Also, I'm willing to make any and all applicable visits required but I'm planning to make each visit laser focused.
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19 September 2024 | 15 replies
I've looked at Box and I don't mind paying for cloud storage (since otherwise you pay with privacy) but at the time I didn't like the application integration on iOS as much.
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19 September 2024 | 6 replies
One application, one credit pull usually, lots of lender options....vs filling stuff out over and over.
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19 September 2024 | 13 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
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19 September 2024 | 1 reply
Mortgage application activity has already seen a bump as primary mortgage rates are nearing twenty month lows around 6%, FHA in the very low 5%'s (and I've even heard of 4.875%'s floating around..) with DSCR rates now in the low to mid 6%'s depending on credit profile.