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17 March 2024 | 17 replies
@V.G Jason thanks that helps the M2M is based on Zillow and Redfin although the numbers listed above are ~100k less per property than what those websites show for each propertyI need to look into recast I am assuming the mortgage broker would know this?
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17 March 2024 | 18 replies
DSCR Rates are going to vary by quite a bit based on multiple factors (more than conventional), primarily FICO, LTV and DSCR - but also buydowns, prepayment penalties, and some alternative structures.That being said, I would say the average rate right now is around 7.5%, but can vary all the way down to 6% or higher than 9% for some special cases (like Multifamily 5+ or Mixed Use)Heres a couple articles on what goes into DSCR Rates (in addition to market) that hopefully helps!
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17 March 2024 | 4 replies
Jacksonville is a great place to invest as I'm sure you've figured out based on your homework.
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18 March 2024 | 8 replies
I would let him know that any unused rent money would be refunded, along with his deposit, assuming he meets the lease requirements.Personal opinion based on the information shared.
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18 March 2024 | 13 replies
We're all basing our answers on the limited information you've shared.
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17 March 2024 | 14 replies
Maybe we can call it the "Ohio Cartel" lol@Pradeep VelugubantlaBeen based in Toledo for 10+ years now.Updside:1) Low entry, high cashflow2) Blue collar employed tenants that pay rent3) Homes well kept4) Certain pockets have infrastructure that supports tenant and homeowner demandDownside:1) Tertiary market with declining population from a macro standpoint2) Not much upside from an appreciation standpoint3) Unsophisticated work force.
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15 March 2024 | 5 replies
Hi BP Community,I'm starting out my learning path and I've read the Ultimate Beginners Guide and have been listening to the BP Podcast starting from the old episodes.
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15 March 2024 | 14 replies
And you've joined one of the best communities for all things real estate investing.1️⃣ Download this ultimate beginner’s guide: https://assets2.biggerpockets.com/uploads/user_file/file_object/1694/UBG_2018.pdf2️⃣ Read BP beginner books on investing: https://store.biggerpockets.co...Also, read Rich Dad, Poor Dad by Robert Kiyosaki and Think and Grow Rich by Napoleon Hill 3️⃣ Subscribe to BP podcasts or YouTube channel and watch their webinars. 4️⃣ Ask questions here on the forums.5️⃣ Visit (join) a local (and legit) real estate investment association.6️⃣ Consider joining a BP bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcampsI wish you all the best in your investing journey!
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14 March 2024 | 3 replies
Any input on a number you use to create a high level estimate to finish a basement based on square footage?
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19 March 2024 | 52 replies
@Cameron RileyYes HUD has screened them based on their standards but you can have your own screening standards which they won’t qualify for.