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26 June 2021 | 4 replies
Average lot lease is currently around 1800 and there are over 800 lots, so revenue is almost 18 mio yearly, paying for a handful of staff, maintenance but the majority of it is available for interest and paying down principal.
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27 June 2021 | 4 replies
Increase the amount of your payments and make sure the increase is applied to the principal.
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2 July 2021 | 5 replies
So, if you are in a stage where you have hit your growth goal and just want to kick back (no such thing as an owner IMO, LOL) and cash flow, it could totally make sense to start refinancing out of your acquisition loans (remaining principal, no or very little cash out) and benefit from the increased cash flow as a result of a lower interest rate loan at a lower LTV than when you purchased the property.
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26 June 2021 | 0 replies
I’ve also thought about just pulling my initial down payment and whatever I pay towards the principal and partnering that with what I save for my second property.
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1 July 2021 | 13 replies
Track rent and other income for each apartment and categorize your expenses (e.g. insurance, taxes, utilities, mortgage (principal and interest), maintenance (labor and materials), capex, etc.).
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29 June 2021 | 26 replies
Should I pay make additional payments towards the principal knowing that I may be tied up in court because of this litigation so I won't be able to refinance?
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29 June 2021 | 2 replies
Combine the arrears, call it "deferred principal", and make it non interest bearing and due at the end of the loan.
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29 June 2021 | 2 replies
As far as the building goes, there are rules surrounding how many units are owner occupied, how many units are owned by only one individual/principal, insurance and cash reserve minimums, etc.
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5 July 2021 | 7 replies
Let's assume your average Principal payment applied is around $400 and you've had the property to about 2 years, so your rate may have been 3-3.5%...
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17 July 2021 | 8 replies
I was able to get a five percent conventional loan through New Hampshire housing and after adding some sweat equity to the rental unit, the rent now covers more than the full principal and interest on the mortgage.