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21 February 2024 | 7 replies
That would be a great bonus and it would help me get to my repair and occupancy saving goals faster.One thing I need to research is how lower rates impact rental rates.
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20 February 2024 | 6 replies
DSCR stands for Debt Service Coverage Ratio and you qualify based on the property itself rather than your DTI, work history, etc.
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20 February 2024 | 71 replies
Not being able to reach customer service is one of the most important things that a host needs and it's also my deal breaker.
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20 February 2024 | 9 replies
Who will pay for repairs, utilities, the payments, and what if you have an insurance claim?
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20 February 2024 | 5 replies
The appraiser will complete the appraisal and fill out the 1007/rent schedule which will calculate the common rents in the neighborhood market.Those rents will be used to show if the new mortgage PITI payment will debt service itself.
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20 February 2024 | 8 replies
This is how most hard money works now Rates: 9% to 13% (Most Deals are 11-12%)Terms: up to 36 Months (Most Deals are 6-12 months)Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)Max Loan: 65%-70% of After Repair Value(ARV) 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.
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21 February 2024 | 94 replies
Appreciation can.If you've got 10 properties cash flowing $200/mo apiece after you pay the mortgage and all expenses AND set aside a repair reserve, well...great.
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20 February 2024 | 3 replies
I am looking specifically for someone who is excellent at carefully monitoring and toggling pricing with the goal of keeping the Unit as occupied as is possible.I do have access to a few excellent cleaning crews and so I can take that on, but am also open to full service companies who have cleaning in house.I will also consider "small footprint" operations with good references and proven expertise.Thank you,John
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20 February 2024 | 5 replies
I've seen extensive foundation repairs done to cinder block walls that are bowing from external hydraulic pressure, and they've been repaired with extensive steel beams, tension systems and a drain cut in for around $12,000.4" is a fair bit of slope and to put in floor leveler...well, that's a lot of floor leveler.
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20 February 2024 | 3 replies
To get the after-repair value an appraiser is going to be looking for properties that are as similar to this property as possible.