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19 April 2024 | 14 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 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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18 April 2024 | 6 replies
Popular choices include Katy, Fort Bend, Spring, and Cypress, all offering excellent schools, a family-friendly environment, and affordable housing.
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18 April 2024 | 7 replies
It is important to carefully examine the loan agreement, local laws, and ethical standards.
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16 April 2024 | 6 replies
Stretch goals for the year include: getting my partner started with a flip and providing support as needed - she's a REALTOR, works in property management, and is interested in flipping; begin a marketing campaign to test out wholesaling as a deal-generation strategy.
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16 April 2024 | 8 replies
Richmond is a wonderful place for real estate investing, with its expanding economy, variety of neighborhoods, and affordable property prices compared to bigger cities.If you want to further your real estate investment journey in Richmond, it's important to stay informed about market trends, connect with fellow investors, analyze properties thoroughly, consider various financing options, diversify your portfolio, manage your properties effectively, and stay well-informed about real estate investment strategies.
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18 April 2024 | 16 replies
I am always down to talk about real estate investing in Columbus, Ohio.I can share insights on investing on both single and multifamily properties, including out-of-state investing.
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18 April 2024 | 36 replies
So many people including myself had issues with payment, fees, cancellation problems and a high amount of fraud.
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17 April 2024 | 4 replies
It's important to ensure compliance with local tax laws and regulations to avoid any potential issues.
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16 April 2024 | 1 reply
Offering camping accommodations comes with inherent risks, so it's important to protect yourself legally and financially.Site Preparation: Consider what amenities you'll provide at the camping sites.
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17 April 2024 | 3 replies
Bridge debt is used to “bridge” a property from its current state to an improved state and by virtue of that purpose, the maturities on these loans are short, typically 3 years with two possible one-year extensions (if the covenants are being met).The reason this distinction is important is that if rates rise, property values tend to fall.