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Realist Free Community
Public • 852 • Free
7 contributions to Realist Free Community
May 2
in
20% off tickets for Missing Middle Summit
Use code "TCREI" at checkout for 20% off https://www.eventbrite.com/e/the-missing-middle-summit-2024-tickets-645538863117
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New comment May 10
2 likes • May 8
Anything like this coming to alberta?
Mar 8
in
Day 5 Homework
Thanks for a great week anyone. Homework for day 5 - (due monday) 1. Calculate cash on cash return for your remaining properties 2. Build a 10-year proforma model from scratch for one investment 3. Calculate annual cash-on-cash return for 10-years 4. Create a rough 1-pager promoting your deal (include photo, metrics, profroma screenshot, and any other key points) Post 1-pager below in the comments. We will pull one random 1-pager to select a winner on Monday!
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New comment Mar 29
3 likes • Mar 8
@Joseph Cascun Definity not in my skillset but I did learn a ton by having to build it myself.
5 likes • Mar 9
Thanks for all your time here in this challenge and the podcast. I hope to make it to one of your events soon.
Mar 8
in
Day 4 Homework
Thanks for a great live session today everyone. Today's homework is: 1. Contact the local credit union in the market you're searching, and see if they can give you a Debt Service Coverage Ratio (DSCR) and Loan-to-value (LTV) parameter for what they'd loan to you for an investment property. (If you can't reach them, just use 1.25 DSCR) 2. Calculate the DSCR for 3 of the listings on your shortlist. 3. Highlight a deal if it hits the DSCR criteria of the lender. Please post a screenshot of #2 and comment "DONE" in this thread.
Complete action
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New comment 22d ago
3 likes • Mar 8
I got a long winded answer from my mortgage broker “Most lenders will do 80% LTV on an Investment/Rental Property in Lethbridge. DSCR specific to the Rental Property isn't looked at by many lenders, instead they will look at their personal income and all personal debts, including the new mortgage, taxes and heat giving an overall TDS. The max TDS is 44% in most scenarios, however lenders will allow us to include the potential rental income verified by an Appraisers Market Rents Report. If they have other existing rentals we can also verify this rental income from their tax returns and rental leases.” So i went with the 1.25 Funny thing is the property that seems to be coming out on top is the one i had a cash offer on from the courts but i was out bid in the end.
1 like • Mar 8
And Done
Mar 6
in
DAY 3 Homework
Thanks to all who attended todays live session! The homework is to analyze and list 5 deals with cap rates - take these from the list that you have done already for the GRM deals. This is NOI divided by the Purchase Price Please Provide a Screenshot of your deals! The paperclip button in the bottom right corner of the comment box will allow you to add attachments. This is 1) An accountability measure to make sure you're actually going through the reps. 2) Required if you want your completion to count towards the draw! Feel free to look anywhere in the country & put the Door Insight AI tool to work! See you tomorrow
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New comment 23d ago
3 likes • Mar 7
Done
0 likes • Mar 7
@Gurinder Aujla Great job!
Mar 6
in
DAY 2 Homework
Thanks to all who attended todays live session - The homework is to analyze and list 10 deals using GRM ( Gross Rent Multiplier), which is Property Price / Annual Gross Income Please Provide a Screenshot of your deals! The paperclip button in the bottom right corner of the comment box will allow you to add attachments. This is 1) An accountability measure to make sure you're actually going through the reps. 2) Required if you want your completion to count towards the draw! Feel free to look anywhere in the country & put the Door Insight AI tool to work! See you tomorrow
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New comment Jul 19
3 likes • Mar 6
Done
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@lisa-friesen-7336
My name is Lisa, I'm a real estate agent and property manager in Lethbridge Alberta.
Active 18h ago
Joined Feb 23, 2024
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