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6 March 2024 | 8 replies
Are there lenders who will consider my past str track record when determining Debt-To-Income ratio in regards to turning my current house into an income producing property?
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7 March 2024 | 14 replies
MHPs are income stream investments and valued as such.
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5 March 2024 | 4 replies
Focus on performing your day to day operations in a manner that will reduce the risk of claims in the first places such as hiring reputable service providers, sign contracts each time you engage a 3rd party vendor & collect insurance certificates where you are listed as additional insured from everyone who performs work on a property you own or provides a service related to a property you own.
5 March 2024 | 26 replies
Here are a few common paths to getting started:Personal Savings: Some investors start by saving money from their jobs or other sources of income.
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7 March 2024 | 15 replies
While navigating these alternatives, you can gain STR market experience, build equity, and potentially generate income to improve your credit score over time.
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6 March 2024 | 0 replies
You run the risk of turning off potential buyers and prolonging the sale process by pricing your property too high.To price your property competitively, follow these tips:Research the local real estate market to determine a fair price for your property.Consider hiring a professional appraiser to determine the true value of your property.Be willing to negotiate with potential buyers to reach a mutually beneficial agreement.Rather than reducing the price first, consider giving them other types of concessions.Remember, most listing sites have ways to filter properties by price.
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6 March 2024 | 4 replies
Sales price: $900,000Seller finance: $400,000 / 2 year ballon / 7% interest rate / interest only monthly payment: $2,333 / no pre-payment feeEstimated monthly income: $9,300 / Annual: $111,600Electric separated - water $450 per monthProperty taxes: $16,700 (with property value assessed)Property Insurance: $6,300Renovation Repairs $150,000I anticipate the Re-fi appraisal to come in at a conservative $1,150,000.
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6 March 2024 | 5 replies
Hi,I have 3 homes and need to find a template/form where I can put in all the original purchase information - or the most current refinancing information and all the current rental income and expenses.
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6 March 2024 | 13 replies
No personal income docs or taxes needed.
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5 March 2024 | 18 replies
Generally you want to be closer to break even if you are in negative cash flow, but if you have good income this could still make sense.It's also really important to make sure what you are getting into when it comes to condos.