Bob S.
HOA restrictions for rental in North Texas
20 May 2024 | 6 replies
The issues I am seeing, especially with newer HOAs make me think that you should almost never buy a rental in an HOA.One HOA in north Texas tried a few years ago to prohibit Section 8 rentals.
Adam Baker
Kitchen Cabinets???
20 May 2024 | 21 replies
Then you could buy the doors and drawer fronts from a surplus building supply store and stain or paint to your liking.
Zeliang Zheng
which market still cashflow given high interest rate?
20 May 2024 | 24 replies
We are transitioning to nicer properties, but a few years ago I likely would have jumped at this offer (and I may still purchase it even though it is not my current buy criteria).
Pratik Kochar
Input on Investment opportunity
20 May 2024 | 1 reply
Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.
Wendy Vaidic
Looking For A Mountain Town for STR
19 May 2024 | 11 replies
If you buy all cash you will have a better cash flow position.
Cecil Shannon
New Member in Shasta County, Redding area of CA.
20 May 2024 | 28 replies
You don't need a conventional bank to buy a property.
Tanner Webb
Making the jump to a second property
19 May 2024 | 9 replies
I am trying to decide whether to buy another home here or buy an investment out of state.
Jay T.
Tough time finding tenants - Any sites where you can search a list of good renters?
19 May 2024 | 21 replies
‘imagine you were looking to buy something personal like a shirt, or a watch.
Ugo O.
Starting out as a Candian looking to invest in the USA
20 May 2024 | 10 replies
Basically to buy a property below market value, add value/equity, rent, and refinance, however, I do want to draw out a lot of my capital or leave at most 20-30k in the property (or whatever the more experienced people think).
John Hickey
Hard money horror stories. Let’s hear them
20 May 2024 | 6 replies
I had bought three houses within a few months and I would buy two more a year later.