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27 January 2020 | 5 replies
I appreciate you taking the time to assist and to provide this list of information to include.Purchase price: 249,900Down payment: 7,500Additional closing costs: 4,887Additional cash for improvements: ~1,000Current market value: 298,000 (this is Zillow estimate, haven't discussed with my realtor yet)Current loan balance: 235,227Current loan interest rate: 5.0%Monthly mortgage payment: 1,574Monthly average total costs (with utilities included as it is a furnished short-term rental): ~1900Monthly average rental income: 2241 (averaged over past six months, has ranged from 1423 to 2646)Monthly long-term rental potential (assuming no utilities or furniture): 1500-1600 (pretty much just the mortgage)
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29 January 2020 | 11 replies
Good luck in whatever direction you go, and if I can ever be of assistance to you in any way let me know.
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29 January 2020 | 10 replies
But i know first hand if it breaks its an easy $4-5k to dig it out and fix.
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18 February 2020 | 6 replies
Thanks in advance for any assistance!
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27 January 2020 | 0 replies
Any assistance would be greatly appreciated!
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3 February 2020 | 1 reply
I knew I wouldn't be receiving much since most of our business is digitized (e-bills, etc) but occasionally I get a vendor/service that wants a good ol' fashioned "address".
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1 February 2020 | 15 replies
But one time my banker's assistance goofed and thought it was the payment amount we wanted to be a round number, so we ended up setting the payment vs. the term.
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28 January 2020 | 11 replies
Your criteria should match your investing goals.My deal criteria includes three main categories: Location, Team & Value Add.Location: Must be in a city that is growing in population, in a neighborhood that would attract good tenants, and in an area that would appreciate over time.Team: In order to do a deal I must be able to get good lending terms from my lending team, must have a property manager who can manage it, and an investor agent who can negotiate the deal.Value Add: A deal must have the ability to hit double-digit COC returns, allows for forced appreciation, and produce $200 - $400 net cash flow per unit [depending on size of property].If a deal meets all of the above criteria, then the checklist comes up during due diligence.
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28 January 2020 | 2 replies
I am going to sit down with a potential investor (relative) about lending me some money to assist with a down payment on a great property I have in the pipeline.Looking for tips to help the conversation go smooth ?
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30 January 2020 | 10 replies
The customer support is very hit or miss if you need assistance when you call or submit a claim ticket.