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21 April 2024 | 12 replies
The number usually varies from 10-20% depending on credit score, property analysis, etc.Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.Once the property is ready you can sell it or if you want to keep the property as a long term investment, you can underwrite the loan based on your income /debt to income (DTI) ratios or you can go the DSCR route where the loan is underwritten based on the actual or market rents from the appraisal.DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.Here's a bit more in detail about how rates are calculated for DSCR loans:1.
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21 April 2024 | 8 replies
There are some limits on the amount of depreciation that you can deduct for a short-term rental property based on the number of days that the property is rented out each year.
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21 April 2024 | 4 replies
You can continue deducting mortgage interest and depreciation if the property is owned by an LLC.If the LLC is multi-member, your share will be based on what the LLC agreement says.
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20 April 2024 | 9 replies
I've always wanted to do everything myself.But maybe it's time...to search for a partner.If I want to close this deal, it's what I need.
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21 April 2024 | 11 replies
The issue is Detroit is a very block by block city so you’re going to want to narrow down your searches down literally to specific blocks within specific subdivisions and not just looking at zip code by zip code. so, while you can get answers of specific subdivisions that people may recommend, it’s best to make sure the specific block you are about to purchase the property on isn’t a rough one. that being said, happy to chat about Detroit real estate anytime !
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20 April 2024 | 33 replies
You can download spreadsheets and run PDF reports, but receipts and search functions and the rules that you used to assign transactions are all gone.
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21 April 2024 | 8 replies
Along with the same client is building a small resort on one of the Islands. to me the pros are things are based on english law and english is the language of the country.for us where at our age health care is important I would not choose to live there as an x pat.
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22 April 2024 | 11 replies
You are bidding based on still owing that amount. depending on the state you need to know what is superior and inferior. think about it this way, you are marrying a person with kids from a prior relationship - those kids do not go away, you are taking them as well.2.
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19 April 2024 | 3 replies
Based on that estimator, with the current purchase price the property tax would be 3x of what is currently being paid.
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21 April 2024 | 16 replies
The Rental Property Association of Wisconsin is a Milwaukee based non-profit for landlords.