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15 January 2025 | 8 replies
Start by serving proper notice of the management change and request payment details.
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19 January 2025 | 9 replies
I still remember the first loan payment coming due and wondering where that money was going to come from!
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25 February 2025 | 22 replies
For us an average home is 350k 2-3 years ago monthly payment at 4% with 10% down was $1900 and now its $2500 for the same house.FL is filled with people on fixed and low income.
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14 January 2025 | 15 replies
This is a self directed RRSP or TFSA account that allows you to lend your money out to people with the backing of their mortgage for a high interest rate. 1st, 2nd, 3rd mortgages, down payments, refinances, flipping or renovation money.
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14 January 2025 | 15 replies
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.
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18 January 2025 | 10 replies
@Jennifer Fernéz I run sum numbers for you with our tool, see comments and pics below before refinancing and post refinancing .Financial Breakdown: Purchase Price: $200,000 Mortgage (LTV 80%): $160,000 Interest Rate: 6% (30-Year Amortization) Mortgage Monthly Payment: $959Upfront Costs: Down Payment (20%): $40,000 Closing Costs (3.5%): $7,000 Renovation Costs: $15,000 1 Month of Carrying Costs During Renovation: $1,548Total Upfront Required: $63,548Year One Rent: Monthly Rent Income: $2,000 1 Month Rent Losses during renovations (-$2,000): -$167/month distributed over 12 months Total Rent Income: $22,000 per year => $ 1,833 per monthMonthly Expenses: Mortgage Payment: $959 Property Tax (Assuming $3,000/year): $250 per month Property Insurance (Assumption): $100 per month Utilities (Hydro, Gas, Water): $275 per month Assuming 5% Vacancy: $92 Assuming 0 % Repairs & Maintenance first year because unit has been recently renovated Total Monthly Expenses: $1,676Monthly Net Cash Flow: $157Post-Renovation Refinancing Strategy after 12 months:So far, we’ve purchased the property, completed renovations, and rented it out.Next, you can approach the bank for a refinance to consolidate a portion of your initial investment into a mortgage.
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13 January 2025 | 2 replies
all materials, all labor costs to others, Not you, utilities, interest payments, permits, licenses, auto/truck expenses, tools needed are all deductable.
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12 February 2025 | 43 replies
Still waiting on payments to start with the city of Memphis. it was supposed to be October 1st but I haven't seen anything yet.
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14 January 2025 | 9 replies
In my experience that's not actually the case at least in legitimate evictions for non-payment of rent or breach of another part of the lease.