Abraham Anderson
Recommended accountant/tax advisor?
15 September 2017 | 1 reply
I currently own 20 units, and still work full time self employed as an insurance agent, so I am looking for a CPA/Tax prep that is knowledgeable in the RE space.
Ivan Gonzalez
new home purchased with VA loan.
14 September 2017 | 1 reply
You would need to be on title for 6 months to do this but that's the idea that I would recommend.
Amia Jackson
It's almost like our triplex was free
18 September 2017 | 10 replies
Our total mortgage amount is 165k and our total out of pocket is about 9k, that's closing costs, fees, insurance, appraisals everything.
Ari Bachrach
Feedback needed on first deal
15 September 2017 | 3 replies
I will probably want to refinance at least 80% of that into something fixed at some point to hedge against rates going up.Monthly costs:* debt service = $441 (141,000 *0.0375/12)* insurance = 78 (quote from Geico)* HOA: 860* taxes: $149 (it's $894 each per year)* repairs: $100 (I'm estimating a little less than with an SFR because with a condo I don't worry about the roof, the hot water heater, landscaping, etc.)total: 1628Monthly income: $2660 (1410+1250)Net: 1032Cap rate = 8.7% (1032*12/141000)Things I didn't include: closing costs, vacancy.
Michael Lee Gundersen
Where should I save my money before I invest in a property?
16 September 2017 | 15 replies
@Michael Plante We live entirely off a base salary after taxes of $4562 a month ($1000 mortgage, prop taxes, insurance, food, vacation savings, etc) and I also make about $5000 a month in commissions.
Eric Swint
Need financing advice on fully rented duplex as primary residence
14 September 2017 | 0 replies
I would prefer to stay away from FHA loans/fees if possible, but am open to scenarios where I can still make the numbers work with all fees/insurance.
Alexander Sierra
Assuming mortgage of home
14 September 2017 | 3 replies
Get added to title alongside grandma, do a rate and term refinance in just your name.
Teddy Johnson
Quit Claim Deed to a Trustee
16 September 2017 | 1 reply
In order to gain control of the property and to have a structure to attract more investors I'd like to have a record of assets that are owned by the company, which becomes difficult when the titles do not reference the company or any relationship with the company.
Brett Staples
First investment ideas?
30 September 2017 | 2 replies
Make a spreadsheet and take your total rent and subtract vacancy, mortgage, capital expenditures/Maintenance, Tax, insurance, and property management (You always want to include this just incase down the road you end up using property management).
Vincent Ngo
Acquiring a Buy and Hold
15 September 2017 | 13 replies
With this same property and an estimated rent at $1000 a month here are the numbers:Mortgage $485 (75k at 4.75 for 20 year amortization)Taxes $100 (This is a guess because I have no idea what they would be in your properties area)Insurance $50 (This is also a guess but I am basing it off of my own rentals)Property management at 10% $100 (This depends on if you will be managing it yourself or not)Capital expenses savings for repairs 10% $100Vacancy 10% $100Monthly cash flow = $65 (6% APR rate of return on your 13k left in the property).Now there are several variables in this example.