Teekap Pate
Chicago high-rise investment
19 August 2024 | 7 replies
Maybe stick to condo's in small associations 8-10 units that are self-managed or don't have any rental restrictions.
David Shirts
Advice on wanting a 2nd property
20 August 2024 | 15 replies
Avoid anything with condo association fees or homeowner association fees as they DECREASE CASH FLOW with no real contribution to the bottom line.Lastly, since you are new, when you do get a property DO NOT HIRE A PROPERTY MANAGER.
Jeffrey Smith
How to start my own Property Management Business
20 August 2024 | 17 replies
I would highly recommend NARPM (National Association of Residential Property Managers) to learn about Property Management.
Gustavo Alvarez
DSCR Loan Prepayment Penalties
20 August 2024 | 40 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.
Nina Liu
Decisions on an aging building with end of life issues
18 August 2024 | 2 replies
Ive only handled SFH and small multi-family rehabs, but never dealt with anything on this scale, and have no idea about the associated costs.
Ross Hayes
Fix & Flip Analysis Fundamentals
18 August 2024 | 3 replies
Closing costs vary but are usually at least a few grand in addition to the origination fee which tends to vary between 1-3% of the loan amount.We have a simple yet detailed fix and flip calculator (cash flow tool) that clearly accounts for all of the relevant costs and gives you a sense of net profit, ROI and total cost associated with each project.
Carlos Scarpero
Selling personal home on land contract.....good idea?
18 August 2024 | 6 replies
Research shows that higher down payments (15-20%) are associated with significantly lower default rates.What protections would I have if the buyer defaulted?
Naphese G.
What are you techniques on recording what you’ve learned?
18 August 2024 | 4 replies
etc.Each of those subcategories can be broken down further into Pages or combined subcategories into sections such as Courses and Webinar Notes and have sub-sections for each course or webinar you attend and their associated notes.As you can see this structure can be very organized and scale well.
Tim Lewis
Cleveland Property Managers
18 August 2024 | 29 replies
The returned phone call was a phone number associated with Neal Aviation out of San Diego and to that of Garrett Neal.
Jacob Caffee
Short Term Rental Lease
17 August 2024 | 10 replies
Basically looking for a pretty simple template that specifies the renter details, duration, and acknowledges they will follow the rules for my condo association.