Vallavan Posted July 8, 2020 Report Posted July 8, 2020 anyone doing? any good training / material / books you can recommend? Quote
LadiesTailor Posted July 12, 2020 Report Posted July 12, 2020 What’s your need ? Properties koni rent ki iddam Ana ? Quote
joblessjack Posted July 12, 2020 Report Posted July 12, 2020 Vadu bro one of my friend tried in Detroit. Failed. home price is 200K , Mortgage is $1500 Rent you get $1800 to $2000 If you are luck and home is full occupied 12 months you get $2000X12 =$24000 - $18000 Mortgage for 12 months - Property tax of $5000 - HOA $2400- Move out cleaning at least $500 = $500 Profit IF there are no appliance damage , no issues with home like plumbing electric , And all 12 months its occupied and also no rental agent commissions. AND main thing is if its not your primary residence you pay high interest and DOnt forget to add rental income tax + Insurance He ended up in loss of $3500 in losses BUT he is building equity , Since the home is 10 years old now the price will go down or stay stagnant with is another loss . Dont forget you need to pay 5 to 8 % in agent fees when you sell. 1 Quote
Peddayana Posted July 13, 2020 Report Posted July 13, 2020 On 7/12/2020 at 11:22 AM, joblessjack said: Vadu bro one of my friend tried in Detroit. Failed. home price is 200K , Mortgage is $1500 Rent you get $1800 to $2000 If you are luck and home is full occupied 12 months you get $2000X12 =$24000 - $18000 Mortgage for 12 months - Property tax of $5000 - HOA $2400- Move out cleaning at least $500 = $500 Profit IF there are no appliance damage , no issues with home like plumbing electric , And all 12 months its occupied and also no rental agent commissions. AND main thing is if its not your primary residence you pay high interest and DOnt forget to add rental income tax + Insurance He ended up in loss of $3500 in losses BUT he is building equity , Since the home is 10 years old now the price will go down or stay stagnant with is another loss . Dont forget you need to pay 5 to 8 % in agent fees when you sell. very good analysis man , db lo logic tho posts chala takkuva so nice to see this one. calculations are off a little bit but I get the point. Quote
HugoStrange Posted July 13, 2020 Report Posted July 13, 2020 see Biggerpockets youtube channel if you want to know more. Quote
sureshkonda Posted July 13, 2020 Report Posted July 13, 2020 On 7/12/2020 at 10:22 AM, joblessjack said: Vadu bro one of my friend tried in Detroit. Failed. home price is 200K , Mortgage is $1500 Rent you get $1800 to $2000 If you are luck and home is full occupied 12 months you get $2000X12 =$24000 - $18000 Mortgage for 12 months - Property tax of $5000 - HOA $2400- Move out cleaning at least $500 = $500 Profit IF there are no appliance damage , no issues with home like plumbing electric , And all 12 months its occupied and also no rental agent commissions. AND main thing is if its not your primary residence you pay high interest and DOnt forget to add rental income tax + Insurance He ended up in loss of $3500 in losses BUT he is building equity , Since the home is 10 years old now the price will go down or stay stagnant with is another loss . Dont forget you need to pay 5 to 8 % in agent fees when you sell. Home loan rental property kosam ante banks same interest rate ki isthunnaru.... ippudu nenu ade chesthunna. Manchi ga account la pukat ki $2k paduthunnayi every month. Quote
manadonga Posted July 13, 2020 Report Posted July 13, 2020 Competition baaga perigindi it works chicago lanti area dallas lanti area lo kastam 2 bed 2 bath 90k vachhiddi chicago subarbs lo patavi saripoddi Quote
tom bhayya Posted July 13, 2020 Report Posted July 13, 2020 14 minutes ago, sureshkonda said: Home loan rental property kosam ante banks same interest rate ki isthunnaru.... ippudu nenu ade chesthunna. Manchi ga account la pukat ki $2k paduthunnayi every month. primary residence kaakapothey same rate ey bank kuda ivvadhu Quote
sureshkonda Posted July 13, 2020 Report Posted July 13, 2020 10 minutes ago, tom bhayya said: primary residence kaakapothey same rate ey bank kuda ivvadhu First loan primary loan ki theesukuni tharuvatha refinancing appudu rental ki kooda add cheyyamani cheppina. So mortgage balance katte varaku rental kooda same interest ki vachindi Quote
LadiesTailor Posted July 13, 2020 Report Posted July 13, 2020 1 minute ago, sureshkonda said: First loan primary loan ki theesukuni tharuvatha refinancing appudu rental ki kooda add cheyyamani cheppina. So mortgage balance katte varaku rental kooda same interest ki vachindi Ela workout chesav bro ? I’m confused here Quote
sureshkonda Posted July 13, 2020 Report Posted July 13, 2020 9 minutes ago, LadiesTailor said: Ela workout chesav bro ? I’m confused here Bank loan officer tho matladu bro. Nuvvu property ni 5-10 years tharuvatha rent ki isthanu..interest rate same undetattu chudu ante vade condition add chesi loan isthadu Quote
tom bhayya Posted July 13, 2020 Report Posted July 13, 2020 1 minute ago, sureshkonda said: Bank loan officer tho matladu bro. Nuvvu property ni 5-10 years tharuvatha rent ki isthanu..interest rate same undetattu chudu ante vade condition add chesi loan isthadu no one will do that, nee payslip, last year tax filings and utility bill property address lo lekapothey it will be consodered investment property and your interest rate will increase when you go for refinance Quote
LadiesTailor Posted July 13, 2020 Report Posted July 13, 2020 1 minute ago, tom bhayya said: no one will do that, nee payslip, last year tax filings and utility bill property address lo lekapothey it will be consodered investment property and your interest rate will increase when you go for refinance Exactly until unless you refinance the home before you rent it Quote
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