All Forum Posts by: Alex Johnson

Thank you, Jon.  So the new rents can be a month or two old? Does this have to be a lease or can AirBnB work? Any other ideas. We bought in cash and are coming up with a strategy to make that cash stretch over more purchases.

Is this the maximum case for financing properties through banks?

Number of properties that can be financed: 10

Max amount per loan: 417k 

Rental income from property that counts towards DTI: 80%

Age of rental income: 12 months or more

DTI: 45% (all sources)

Thank you very much!

first deal should close by thursday this week.

thinking of buying a tax lien property at an auction. if i took title to my name first, then did a quit claim, and transferred title to an LLC. If I did this within the month, will it affect my credit history? Any other implications?

Thanks!

Here is the situation: an all cash SFR buy where the buyer wants to take out a mortgage or heloc.

The property's rent is twice the monthly payment, what additional income, and from what sources can one show in lieu of a traditional bi-weekly pay check?

Thinking longer term, how does this change for a larger, say 40 unit, apartment complex purchase?

Thanks!

Thanks. That makes sense. Intent would be to sell. In fact, I might want it the development to be buyer financed. 

When does the year start for the 15% cap gains tax rate? At the purchase of the lot? Or beginning or construction? Or for a year after it is built?

Lets say one buys a property with one home on one lot + one additional lot. They live in the home on the first lot, then they build a new home on the second lot, and sell it at the 2 year mark. How will this get treated for tax purposes?

Thank you!

thank you!! 

If I end up having to do it later: I could transfer title to an LLC with one member (me) and avoid city transfer taxes. How about if there is one or more additional members to that LLC? Am I missing any thing?

Thanks

Need to close escrow on a transaction on Monday, October 13. It happened fast. And I need a new LLC to take title with. If I reserve a name officially, can I use that even if the rest of the process is not finished?

Please help.

What cap rates are appropriate for small mobile home parks, 7 homes in this case, w/land and homes included.

Ya. I looked at the demographic data for that region and it does not look very promising. Thanks for mentioning that owning the homes means more work. Initially I thought it would be better as one would have more control. As far a property management goes, I would like a firm to do it (it is far).