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19 April 2024 | 20 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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17 April 2024 | 9 replies
If you want to scale faster, using debt is really important.
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17 April 2024 | 3 replies
What you do with it is way more important than where you find it.
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17 April 2024 | 13 replies
It's important to keep your personal funds separate from the funds of the triplex which is a business.
16 April 2024 | 18 replies
She took down my camera that was placed over the front door.Most importantly, I rented my home to a lady and her 2 daughters, but it is pretty clear that she does not live there, it is only a man’s stuff in the master bedroom closet, and a man’s name on the utilities.
18 April 2024 | 41 replies
definitely look into private money debt funds then I appreciate that, but I have a wide range of financial products in my portfolio including quite a bit of debt funds.
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17 April 2024 | 8 replies
You can always include rental expenses on your tax return if you have a rental property that is deemed in service.The question, when summing all your rental income and expenses, and you are net negative, is whether the loss can offset your other forms of income or if the losses are deemed passive and carried forward.
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19 April 2024 | 7 replies
Hi Adam, Since the immediate area may not have many comparable properties, consider expanding your search radius to include neighboring areas with similar characteristics, such as proximity to amenities, major roads, and parks.
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16 April 2024 | 6 replies
To effectively plan your investment approach, it is important to educate yourself and prepare financially by attending seminars and webinars.
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18 April 2024 | 54 replies
I guess discerning who we JV with to get a deal done would be super important... and isn't it always the case that we have to be cautiously optimistic in all business affairs?