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4 October 2024 | 12 replies
I would suggest considering an investment that could help you pay off the HELOC quickly, given the high interest rates typically associated with them.
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4 October 2024 | 8 replies
A lot of associations are cracking down on this.
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3 October 2024 | 14 replies
For DSCR loans, the rental income (actual or projected from the appraiser rent survey is used to structure the loan).
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14 October 2024 | 420 replies
Since joining a year and a half ago, Pace has launched additional programs that cover topics such as social media presence, learning Transaction Coordination, and business acquisition.
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4 October 2024 | 2 replies
The initial inspection may impose additional upfront costs associated with any potential citations.
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4 October 2024 | 14 replies
I'm not sure the premium vs the basic version (I only have premium) but for any property, I can itemize the purchase price, current value, tag the associated mortgage, my assumption on appreciation, its rental income, all of its expenses (including taxes, yearly mainteance, capex, insurance, HOA, property management, depreciation and other), its estimated sale timing/and fees.
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3 October 2024 | 10 replies
Attend local investor meetups, join local Real Estate Investment Associations (REIAs), join digital groups like LinkedIn and Facebook, and use platforms like BiggerPockets to connect with experienced investors, contractors, and potential partners.
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4 October 2024 | 5 replies
A great way to start is by attending RE events and joining a local investors association.
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2 October 2024 | 11 replies
Heres the numbers: Borrower(s)Subject PropertyRate Not Locked 9/30/2024 Sales PriceDown PaymentLoan Amount30 Year FixedContract DepositSeller ConcessionNMLS# $670,000.00$167,500.00$502,500.007.000% $0.00$0.00 Bank Origination Charges Estimated Title / County / State ChargesOrigination Points % $ - Owner's Title Insurance $ 4,415.00Discount Points % 1.500% $ 7,537.50 Lender's Title Insurance $ - Underwriting Fee Title Search $ - Appraisal Fee $ 650.00 Title Services $ - Credit Report Services (1) $ 299.00 Alta 8.1 $ - MERS Fee $ 25.00 Recording & Transfer $ - Flood Certification $ 8.00 Notary $ - Tax Service $ 85.00 Settement Fee $ - VOE Fee $ 150.00 Total $ 4,415.00 Total $ 8,254.50 Prepaid Interest / Items Potential Additional CostsPer Diem Interest 15 Days $ 1,465.63 Rental 1007 $ 250.00Home Insurance $ 1,800.00 New Survey (if applicable) $ -Flood Insurance $ - 2nd Appraisal / Reinspection $ - Total $ 3,265.63 Total $ 250.00 Escrow and/or Property Taxes Due Total Estimated Monthly PaymentsTotal Insurance(s) 3 Months $ 450.00 Principle and Interest $ 3,343.15Property Taxes 4 Months $ 2,868.64 Total Property Taxes $ 717.16Total $ 3,318.64 Total Insurance(s) $ 150.00 HOA / Maintenance $ - Monthly PMI $ - Total $ 4,210.31Total Estimated CostsEstimated Closing Costs $ 12,919.50 Estimated Escrow Prepaids $ 6,584.27 Estimated Funds To Closing $ 187,003.77
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7 October 2024 | 20 replies
Reach out to a few and see who you like.You can also ask members of your local real estate investors association for real estate accountant recommendations.Good luck.