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20 June 2024 | 11 replies
With 25% down conventional (full income verification) even with 2+ units rates should be healthier..I wouldn’t suggest investing on the rate so much as the quality of property and analysis.
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21 June 2024 | 3 replies
While it's always best to have a plan for how you are going to execute your exit strategy BEFORE you get started, if you're like me and just jump in you could easily find yourself wondering how to execute this plan if your initial plan runs into problems.BP is full of great advice on refinancing and if you just post that is what you're looking for, the vendors will come out of the woodwork.
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21 June 2024 | 13 replies
Lenders will need to make sure the property can debt service at 1.25 or higher using all property expenses, property income, and depending on the bank, your personal income and personal debt.
20 June 2024 | 2 replies
My agent says the tax record shows it as 2021.I listed my house , pls advice how I can get the MLS correct to reflect year built as 2022
21 June 2024 | 5 replies
I would add that in your purchase and sale agreement, have your agent add a clause that allows you to review the leases and the agreement is contingent on your satisfaction with the leases.
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20 June 2024 | 1 reply
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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18 June 2024 | 4 replies
The roof is serviceable, but likely has 5 yrs or less of life.
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21 June 2024 | 11 replies
P&L, no.Reason being, the mortgage is debt service against the balance sheet since the mortgage would be a liability.
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20 June 2024 | 10 replies
Unfortunately, you also need to account for expenditures other than your debt service…I.e. repairs, vacancy, etc. usually people assume these as a percentage into their calculation.
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21 June 2024 | 5 replies
An investor-friendly agent should be able to point you to some people.