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5 July 2024 | 73 replies
The tenant is paying $1300/Mo, the market rent is $2200 a month.
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4 July 2024 | 3 replies
My property manager is still taking out Franchise tax monthly and I'm neg negative $200/month and I don't know what to show them to stop them from taking that franchise tax from my proceeds.1) Do I have to put my property to my WY statutory trust as I do with my other state properties to their LLCs?
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5 July 2024 | 9 replies
This criteria is for 1-4 and 5-8 unit programs.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).
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2 July 2024 | 3 replies
I thought perhaps a consulting service would introduce some measure of impartiality since its ostensibly an open architecture/'free to choose' environment.
2 July 2024 | 10 replies
They paid $100 over mortgage but saved $400 month over the previous rent.
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4 July 2024 | 0 replies
Do not add a unit and rent out each garage (2 of them) individually for $150/ month.
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2 July 2024 | 26 replies
I purchased a "mostly" cosmetic fixer upper to live in for the next 12-18 months.
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1 July 2024 | 28 replies
once a month is sufficient?
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1 July 2024 | 6 replies
Hello, my wife and I are about to close on our first house hack and we’re about to inherit two renters that are on month to month leases that are way below market rent.
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2 July 2024 | 10 replies
I could collect the full $1500 and then return the $100 each month.