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17 June 2024 | 9 replies
We no issues closing in an LLC, as a matter of fact most of my lenders will prefer it (assuming it is not your primary residence)Assuming it is not your primary residence, the easiest way to do this deal would be through a DSCR Loans.A DSCR Loan will use current rents or market rents if the property is vacant and personal tax return from you would NOT be required.It also referred to as a No Ratio Loan because your personal Debt To Income is not important.What is important is that the property can pay for itself.If we keep the LTV Low the rate for this loan can be better than a conventional loan.If you ARE Living in the property and you want to keep it... it would mostly depend on how motivated you are and how willing you'd be to "postpone gratification"The best bet is still a DSCR Loan.. which means you moving and renting the property out.We can bring in Asset Based Financing that can help with cash down (if you need it) or to pay cash for another property for you to reside in.Once you're moved out we can do the DSCR Loan at a 70% - 80% LTV or we can calculate a comfortable cash flow number.For example, max cash out that will give you $500 cashflow after a full PITI payment.Let's discuss more!
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17 June 2024 | 2 replies
Overall I feel your goal should be "just enough" to make the prospective (most typical "opportunistic") trespasser move along and find an easier target.
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18 June 2024 | 38 replies
Awesome to read all of the posts and replies on BP...I can tell this is going to be a great resource for me.I'm new to the real estate game and see my first investment being in Spain (I'm moving there this fall and the plan is to be there long term.
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17 June 2024 | 9 replies
It seems tornado alley has moved a bit east in the last 10-15 years.
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15 June 2024 | 6 replies
I moved here from Florida after seeing the projected growth.
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14 June 2024 | 10 replies
If they do not leave by the move out deadline, can I start eviction process?
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14 June 2024 | 17 replies
Quote from @Jason Strauss: Make sure you are very clear on the PM responsibilities and processes.
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17 June 2024 | 15 replies
One of the LTR units had a tenant who wasn't paying, so they had to go through the eviction process.
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15 June 2024 | 13 replies
Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.
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14 June 2024 | 101 replies
They also have a strict tenant screening and matching process.