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Updated about 8 years ago on . Most recent reply

User Stats

335
Posts
57
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Ryan Keenan
  • bethel, ct
57
Votes |
335
Posts

How to file income property's in tax season to benefit the inves

Ryan Keenan
  • bethel, ct
Posted

hi bp,

In regards to your schedule e and filing your taxes is there a special way file income properties in a way that will help you buy more? I've been fishing around and trying to see about getting a fha loan in a few months and was told my dti is too high! How do investors do it and aquire massive amounts of property? My situation in short is:

58k a year income with additional 7k in overtime. My rental property grosses 2100 a month and my mortgage is 1400. Other one I'm house hacking 1150 in rent mortgage is 1200.. other debt totals 688 per month. Called wells Fargo and approved me for 75k which will not buy anything in my area.. do most mortgage brokers know how to calculate rental income when figuring dti?

Thanks so much

Ryan

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