
29 May 2024 | 4 replies
I'm debating to just giving the buyer a discount or money back so that he can address these repairs after closing but I just thought if I did these repairs prior to closing, if that would benefit me tax wise.If I put in a new roof and add a new sewer pipe to the property would that have any tax advantages even though I am selling the property in the same year?
29 May 2024 | 6 replies
You can also get a lower rate on a 30 year fixed and even though its a 30 year loan there is No prepayment penalty so you can pay as much as you want but not obligated to pay more.A Heloc is a credit risk and can "never" be used as an asset or PITI reserve which is required when buying additional properties.

30 May 2024 | 33 replies
Even when times are tough, they know that they pay the landlord first.

29 May 2024 | 4 replies
Furthermore, I seem to have a relentless internal compass that points me in its direction.As mentioned before, I'd appreciate your insight, even if that means holding steady the course I'm on for the time being.

29 May 2024 | 6 replies
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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

31 May 2024 | 33 replies
I am not even that consistent with calling myself but I aim to change that starting tonight with this new list.

28 May 2024 | 7 replies
Developers are the ones that pull all the pieces together on a project, but even that's not set in stone.

29 May 2024 | 8 replies
With regard to property taxes and reassessments, it’s always best to use the tax estimator and you can go as far as even calling the county tax appraiser to get a more firm estimate so that you do not get blindsided by a higher than expected tax bill.

29 May 2024 | 15 replies
Even management, needs to be managed.

29 May 2024 | 22 replies
I do wanna do business with them but I agree with the earlier post about they don't really account for vacancies and capex so it makes it difficult to cash flow and that's why I haven't pulled a trigger with them.One other thing is I'm seeing the area has a pretty high property tax that's making it even harder to make sense of a deal.