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18 October 2016 | 6 replies
Here are my thoughts based on some avg #s$1980/2 = $495/mo x 4 units1 bed/1 bath units typically rent around $400/mo so my initial thoughts are how did they get almost $500/mo for these.Lets say you get $450/mo x 4 = $1800/moProperty Management - $180Taxes - $200Insurance - $100Water/trash - $200Vacancy - $180Repairs - $180Cap Ex - $100Total expenses - $1140/moThat leaves you with about $660/mo before any mortgage etc....
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1 October 2016 | 10 replies
I'd really appreciate experienced investors to take a look at my work and let me know if my assumptions are sound or if I'm completely off base.
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30 September 2016 | 13 replies
Another bank may also reduce the LTV based on how many loans you have outstanding.Example too; Joplin, Mo. had a tornado that took out all but one investor's properties, it took months and into the next year for insurance to pay off.
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27 September 2016 | 1 reply
I do this on a regular bases.
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20 July 2018 | 7 replies
Giving my financials a quick overview, he stated that he was not sure I could get pre-approved based on my income alone that I would have to include the rental income on both properties.
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28 September 2016 | 5 replies
I am a real estate broker in Windsor CT but have another brokerage based in Fairfield County with agents and an associate broker.
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27 September 2016 | 0 replies
Based in Charlotte.
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6 November 2016 | 6 replies
@Nicholas MischThe ARM product was developed by bankers to induce folks to get a low introductory rate that they could get approved for based on their income and debt levels because of the lower payment terms.
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28 September 2016 | 15 replies
A seller financed (SF) note is not the same as a purchase money mortgage, it is funded by equity based on an agreed sale price, this makes it an installment loan and a different animal than a cash funded note.Institutional notes have a due on sale clause, an SF note should have if it is common for your jurisdiction but it may not have.