Matthew Kwan
Lowest Rates- what does it means?
6 December 2024 | 4 replies
Many people just ask the rates because that is the probably the only factor they know, so it's important educate them how several factors can also influence the rates.
Steve Baldwin
Who is going after Self Storage in the Midwest?
8 December 2024 | 19 replies
Hey good morning!
Michael Russo
Insurance cost on Airbnb with a pool
6 December 2024 | 1 reply
They got Jared a policy that ran around $4,100 a year, which wasn’t exactly pocket change, but it felt like a workable number once he factored in the premium he could charge per night.
Seth Roland
Advice on Getting a Lender/Financing
9 December 2024 | 24 replies
The differing factor, IMO, is whether you're working with an HML/PML or a traditional bank/credit union.
Brendan Finney
Investing in Omaha, NE.
7 December 2024 | 2 replies
Market fundamentals and economic factors seem strong and promising.
Michael Nguyen
DSCR loan for an LLC multiple members. Does the lender look at all credit scores?
10 December 2024 | 11 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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
Frank Dean
Section 8 rent
8 December 2024 | 12 replies
That’s before factoring in utilities or each personal situation.
Trent Gulino
Using a heloc to brrrr
9 December 2024 | 8 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 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
Roberto Kattan
Buying investment property in Rochester NY
3 December 2024 | 40 replies
I factor in 5% vacancy, 5 % cap ex, and maybe $1600 lawncare and maintenance for all 4 properties.
Ren Lok