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29 March 2024 | 1 reply
Hello,Looking for a mastermind group that I can attend virtually and sometimes maybe host get togethers in different areas of the country?
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29 March 2024 | 9 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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29 March 2024 | 3 replies
The report covered the overall costs of three different triplexes all neighboring each other and built at the same time and dimensions.
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29 March 2024 | 7 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
29 March 2024 | 4 replies
People who don't own dogs casually call about a dozen different breeds "pitbulls," including some boxer mixes.
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29 March 2024 | 17 replies
@Darren Eady thanks man, I'm certainly beginning to learn that there are a number of different ways to go about this process.
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29 March 2024 | 2 replies
We have seasoned investors and access to different lending platforms.
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29 March 2024 | 21 replies
"Don't expect to get different results when you keep doing the same things over and over.
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29 March 2024 | 1 reply
I do like to do it that way for a couple of reasons, your name appears as an Insured and the true owner is not the primary insured.As far as the cost difference, in our area I have found that, for the good properties, the personal policies (dwelling fire) can be cheaper.
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29 March 2024 | 2 replies
@Jacqueline Lee I'll 1 up what @Evan Polaski mentioned....Each jurisdiction and city is going to be slightly different, but at the surface there is generally slightly more paperwork to get your property approved and into the system, but once you get it up and running and the first tenant in there, its generally straight forward to get the rent increases etc.A good place to start would be your local housing authority, they may even offer "Landlord" classes to understand the system more.