All Forum Posts by: Account Closed

Another potential difference between lenders is the minimum amount of time before you can refinance, known as the seasoning period. If you are planning on refinancing this as soon as possible you might ask about the seasoning period, which can vary between lenders and loan types.

As @Tim Swierczek said, for a bread and butter mortgage like this you probably won't see much difference between rate, terms, fees, etc, its mostly about having someone who is easy to work with and who you know will get the deal to the closing table. Most delayed closings are due to financing.

Good Luck.

I had the same issue.

@Sean Gribbons did you have any luck?

@Josh Stack, any insight?

Thanks.

You need to subtract the mortgage, taxes, insurance, management, repairs, vacancy, utilities, etc. 

The monthly rent minus all of these expenses is your cash flow. Check out the BP rental calculator so you don't forget anything.

@Dale Viljoen

I specifically liked the book because it was short and to the point. I used it more as a reference manual and a springboard to more in depth articles online. Specifically on discounting and NPV and IRR: if you come across those terms you can look it up and at least know what the idea is, even if you cant necessarily calculate it for yourself or understand exactly what it means to have a 20% IRR, you at least understand that it is a measure of ROI over a longer time horizon. When you are just starting out maybe that is all you need to know about IRR. You might come across that term, look it up in the book and decide you don't need to investigate it further because you have other metrics you are focusing on right now, but at least you understand the basic idea.

I think this reviewer had an unrealistic expectation of the depth an author can get into in a book that defines and gives examples of 37 different financial metrics. It probably gives three pages to each term, which is 111 pages and probably the entire length of the book.

There are others out there, but this is a good one for learning definitions of financial terms. If you want to get into upper division stuff check out "Real Estate Finance and Investment Manual" but its 600 pages of small print on large pages.

"36 Terms" is fluff free and defines all of the key financial terms. I think its perfect for a beginner. But of course everything is free online if you would rather study that way.

Make sure you are utilizing you local library! And ask the librarian about inter-library loan programs. I have been able to request specific books that my library system doesn't have through this program.

Good Luck!

Just keep listening and reading and googling/Bigger Pockets-ing everything you aren't familiar with. I'm sure there is an article about every term. I also recommend "What Every Real Estate Investor Needs to Know About Cash Flow... and 36 Other Key Financial Measures" for numbers related terms.

Good Luck.