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15 May 2024 | 2 replies
No conventional lender (that I've found) will be able to fit all this criteria, because it's very unique.Occupancy: Currently rented on a short-term basis (airbnb), however, in the process of securing long term tenants.Gross rent (for 1 tiny house): $14,400 annually ($1200 monthly)NOI (for 1 tiny house): $9,600 annually ($800 monthly)Expected Gross rent (for 2 tiny houses): $26,400 annually ($2200 monthly)Expected NOI (for 2 tiny houses): $18,000 annually ($1,500 monthly)Value of portfolio financed at 8% cap rate: $225,000Loan terms sought: 70-80% LTV loan size ($157k - $180k), 20+ year termAnticipated or actual appraisal issues: This is where one of the main problems lies.
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15 May 2024 | 5 replies
Thank you, Mike -- I see all of them listed are long-term rental property managers.
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15 May 2024 | 15 replies
Evaluate each opportunity carefully and consider factors such as risk, return on investment and long-term financial goals.Good luck!
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15 May 2024 | 3 replies
It's also crucial to use a Debt Service Coverage Ratio (DSCR) calculator to assess the financial feasibility of refinancing in the long term.If you need any assistance with these calculators or ensuring their accuracy, I'd be happy to help.
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15 May 2024 | 17 replies
Hi Flavia, Research the local market trends, economic indicators, job growth, and development plans in the area to gauge its long-term potential.
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12 May 2024 | 9 replies
Think long-term.
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15 May 2024 | 17 replies
You are going to get alot more people interested in long term.
15 May 2024 | 4 replies
Cash Flow: Decide whether you're aiming for long-term appreciation (ROI) or immediate cash flow.
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15 May 2024 | 7 replies
Why do you think purchase contracts are so long and have such small print?
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15 May 2024 | 20 replies
Banks are still lending upto 70% LTC, so long as the take-out NOI can hit the DSCR metrics.