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re: Rental properties. How to start
Posted on 6/18/22 at 4:06 pm to geauxnc0308
Posted on 6/18/22 at 4:06 pm to geauxnc0308
Just coming back into this thread.
The best way to protect yourself on future real estate investments:
1. Never be higher than 80% LTV. This is purchase price, closing costs, & repairs.
2. Your income (rent) should be 25% income over expenses (mortgage, insurance, taxes).
3. Find a local bank that will only require 10% down (MC Bank) and some others that require no money down (I can’t disclose, ha). This will help you keep cash on you for unexpected expenses.
Hope this helps.
The best way to protect yourself on future real estate investments:
1. Never be higher than 80% LTV. This is purchase price, closing costs, & repairs.
2. Your income (rent) should be 25% income over expenses (mortgage, insurance, taxes).
3. Find a local bank that will only require 10% down (MC Bank) and some others that require no money down (I can’t disclose, ha). This will help you keep cash on you for unexpected expenses.
Hope this helps.
This post was edited on 6/18/22 at 4:07 pm
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