Joseph Lett
New Commercial Property Project
26 June 2019 | 1 reply
OSR's will typically want to see a minimum traffic count and likely have demographic thresholds - the broker should be able to give you insight on that.
Account Closed
I found a town that has 100k houses...
26 June 2019 | 7 replies
If the numbers work now and they might explode in the future, great but do not count on those numbers for the future
Holly Groseth
How to BRRRR without hurting Credit?
28 June 2019 | 10 replies
There's a rule (not sure what it's called) but multiple pulls on your credit within a 30-45 day window (not 100% sure on the time frame) can count as one credit pull instead of multiple.
Christopher Grobbel
FHA Insurance Denied After Closing
23 October 2019 | 20 replies
No.In this case I wouldn't be shocked if the implausible happened.I also wouldn't be shocked if this was one where the LO/processor/UW/etc overlooked the FHA requirements to count departing/former primary residence rental income.
Ahmed Nijim
Mold treatment question
29 June 2019 | 9 replies
That'll tell you if the inside mold spores are the same type(s) as the surrounding area and how much higher or lower the spore count is.
Bob Romano
Thoughts on a getting HELOC to buy 4 SFH
29 June 2019 | 5 replies
With a new purchase, you can count 75% of rental income on the new purchase and of lease agreements on new purchases that are not yet reflected on your tax returns.
Ryan Heywood
Call 811 before doing any digging
27 June 2019 | 0 replies
Now he’s watching his profit margin turn into an emergency repair bill, and can count himself lucky no one got hurt.Just thought I’d pass this little tidbit along in the hopes it might save a diy’er or aspiring contractor a future headache.
Albert Johnson
is a home equity loan a smart move for me
29 June 2019 | 5 replies
It kind of depends on your needs-- my bank counts the full amount of the HELOC as credit card debt :( So if you use all of it and/or don't make consistent progress paying it down, your credit score could take a hit.
Michael Nathanson
First Fourplex Analysis
28 June 2019 | 6 replies
I would be using FHA financing and living in one unitThe numbers (my best estimate) would be:Rent(current 2 units at 750/month, 1 at 700/month, 1 vacant)=2200Potential rent(fully rented including my unit at 750)=3000PITI=1800 (PMI is making this expensive, this is a rough estimate but should be accurate+/-100)Maintenance=150 (5%)Capex=150 (5% roof was just repaired and 3 units have new heaters)Utilities=400 (best estimate for water sewage and trash seems high to me but would rather be conservative, this is what the last 4plex in the area I analyzed told me)vacancy=300(10% again being conservative saying I will lose about 1 month per year)management=300 (10% I will be selfmanaging at least while I live there but I want it to make sense financially with management)cash flow=$300 (not counting me paying myself rent)In these numbers I am assuming I increase the rent on the one unit that is currently below the others.
Donovan Curry
Can you use hard money loans to buy foreclosures
30 June 2019 | 21 replies
Actually Don I'm a HML and at least by us yes experience counts.