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16 May 2024 | 10 replies
It is always recommended to do it using LLC but not all types you will qualify if you don't have business with the lender or you don't have experience.Feel free to reach out and we can setup a call, I am working with multiple clients that are doing similar things in DFW.
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14 May 2024 | 17 replies
I'm looking to refinance my existing investment property to purchase one in Pittsburgh for the purpose of short term rental am crazy to do it in the current market situation with Airbnb being what it is ?
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15 May 2024 | 3 replies
If you are trying to short term rental, then you also probably have the start of your answer from looking at Airbnb comps.
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15 May 2024 | 4 replies
If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.
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15 May 2024 | 1 reply
Good morning, does anybody have a CAD business/free lancer that they recommend?
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15 May 2024 | 1 reply
Starved Rock Country (LaSalle County, IL) is a great place to invest, especially for short term rentals.
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15 May 2024 | 2 replies
No conventional lender (that I've found) will be able to fit all this criteria, because it's very unique.Occupancy: Currently rented on a short-term basis (airbnb), however, in the process of securing long term tenants.Gross rent (for 1 tiny house): $14,400 annually ($1200 monthly)NOI (for 1 tiny house): $9,600 annually ($800 monthly)Expected Gross rent (for 2 tiny houses): $26,400 annually ($2200 monthly)Expected NOI (for 2 tiny houses): $18,000 annually ($1,500 monthly)Value of portfolio financed at 8% cap rate: $225,000Loan terms sought: 70-80% LTV loan size ($157k - $180k), 20+ year termAnticipated or actual appraisal issues: This is where one of the main problems lies.
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16 May 2024 | 4 replies
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16 May 2024 | 3 replies
Start with BiggerPockets Ultimate Beginners Guide (free).