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Stock mutual fund recommendations for 2021???
chubb paternal leave policy?
Are we?! Lol
BLKJ? The place to be?
Stock mutual fund recommendations for 2021???
If itās an investment property you need to look at those key metricsā¦ there are quick searches you can do for metrics and targets. You need to estimate all costs (prop mgmt, vacancy, Utils, maintenance, repairs, landscaping, etc). For metrics - Debt to income ratio, monthly cash flow, Cash on cash return, etc. etc.
Chief
Is this where you plan to live? Or are you planning to buy it and rent it out? Two different methods for calculating based on whether it is your primary or notā¦
Chief
Youāll need to get an investment property loan, which will require 10% down as a minimum, and 20% is highly preferred. Youāll also need to have 3 months of reserves to cover the debt obligation on hand. If you donāt have that, itās unlikely youāll be able to get approved for a loan.
If youāre looking to sign a long term tenant, youāll only be responsible for insurance and property taxes (as well as PMI if applicable, and/or HOA fees). You may want to also take responsibility for lawn care if the house is in an HOA or if you have an expectation of keeping the landscaping alive. I personally take responsibility for pest control as well, but not many landlords do.