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14 April 2020 | 1 reply
The tools that are helping me narrow my search are: -city-data.com-areavibes.com-rentometer.com-Biggerpockets' rental property calculatorI'm limited to PG county with my price point if I want to stay close to DC.
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17 February 2020 | 2 replies
Business income coverage – look for this, it pays you when the renters have to move out due to damage to the property Make sure you have liability coverage (protects people on the property) of around $300,000-$1,000,000 Make the tenants get renters insurance and don’t let them have dangerous pets Setting Up Your Bank Account Have a separate checking account (income and expense) and a savings account (holds the security deposits given by the tenant) set this up 2-3 weeks before you close on the property Create a scalable system before Preparing Forms You can use a filing cabinet or simply use google drive – store application, rental minimum qualifications form... more on pg. 270 You can get a sample of these forms at www.BiggerPockets.com/LandlordBookBonus Preparing Bookkeeping Consider getting QuickBooks or some other accounting software.
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20 February 2020 | 16 replies
If you don't have this kind of software, I would install a secure drop box/mail slot for tenants to put their money orders into.
19 February 2020 | 2 replies
The property doesn’t have mailboxes, instead it has 2 mail slots.
20 February 2020 | 1 reply
You're placing a bet against the casino, and the casino only needs to win 51% of the time to come out ahead overall, no one on Wall Street is sitting there watching your particular loan and if you buy points or not, any more than the owner of a casino is watching one particular person put one quarter in one slot machine.
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22 July 2022 | 25 replies
I got the same email from their CEO too and was only able to get a slot for this coming Thursday.
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21 November 2021 | 68 replies
Also, most slot deals are on nicer homes with 90-100% ltv. whereas wholesalers are mostly fixers and they are 60-70 %ltv.
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2 May 2020 | 30 replies
(PG and DC you do however)FHA is really for people with poor credit.
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26 April 2020 | 20 replies
., pg. 53 of The Book on Rental Property Investing), but flexible on how you might fund it.