Alexie Franck
Closing costs from 13k to 17k for $380k NJ home
23 January 2024 | 11 replies
@Alexie Franck- 1) compare the intial estiamte ytou recived to the current one ...ask your lender to explain any difference you are able to figure out 2) Dont lumop in the prpaid taxes / insurance / interest to the total of the closing costs ...these prepaids are required to establish impound account and pay ins. premium ...these should be explained at the beginning of the process so you understand that these are needed . 6.125% with 1% loan fee sounds decent for a MF loan
Hector Serna
Just canceled my 3rd deal… time to start over
26 January 2024 | 46 replies
They typically have risk and/or require work.
Collyn Bennett
Big success for first STR how to grow from here?
24 January 2024 | 7 replies
Collyn,Easy fix you have few options first there is DSCR which requires No employment and does not look at or use any personal or business income.
Logan Winn
Fighting Initial Obstacles
23 January 2024 | 2 replies
Additionally, securing financing for real estate purchases as a new business owner could be more complex, requiring careful planning and strategy.2.
Mark Deel
Inspector gave the roof 10 years to live
23 January 2024 | 12 replies
Assuming the insurance premium doesn't change, the property won't meet my cash flow requirements if I have to pay for a new roof to the tune of $15,000+ dollars.
Hira Y.
Property manager withholding financial information
24 January 2024 | 7 replies
Then it becomes a legal collection issue, requiring court to obtain a money judgment, which many PMCs do not handle.The only thing your PMC owes you in this case is a breakdown of what they spent the security deposit of Tenant A for.
Jason Henry
Newbie BRRRR question
23 January 2024 | 9 replies
Once the rehab is completed they do a cash out refi with a no-seasoning-required DSCR product so they get their capital back ASAP.
Richard Myers
RV Park development
23 January 2024 | 8 replies
Zoning and requirements for cabins vary, some jurisdictions make it almost impossible to build them on slabs while maximizing the number of units you would like to develop in a plot of land.
Jemma Jacques
DSCR Loan options
23 January 2024 | 10 replies
Jemma,Pretty much all DSCR loans will require (3) separate purchases because each loan is assigned to the property and its individual parcel.
Jason Sung
Tax return cost: CPA vs Turbo Tax
24 January 2024 | 13 replies
Without knowing more details, I would say that price is likely in line.If your wife stays at home, you may want to look to see if she can qualify for real estate professional status if she manages the properties.The requires for real estate professional status are1) 750 hours on real estate related activities2) More time spent on real estate than a W-2 job / business.