All Forum Posts by: Arthur Voskanyan

So, for example if it was an LLC, then how much would I get taxed? What if there is no business structure, just have a unit how is it taxed?

I have a question; In terms of taxation on income taxes for the IRS, how is rental income treated? For example using AirBnB services? Let’s say my condo makes 30k/yr in AirBNB before taxes, after all my deductions I claims, let’s say it come to 20k that I made, will it be taxed as regular income tax based on my overall income from my other W-2 income, and just put me in whatever bracket? Or does Airbnb income is more like a business income and taxed separately and therefore higher?, aside from my W-2? Thank you BP community All answers appreciated!

Let me ask this; For instance I own a home worth $300,000, and over a couple of years I pay down on loan and own $150,000 in equity, or 50%($150,000) let’s say I want to cash-out-refinance, and get like 80% of that $150,000 cash sum loan, now, let’s say if I use that towards another mortgage, will I really qualify for 3 loans at this point? The first I still owe $150,000, second I took out of $150,000, and now I buy a third home worth let’s say $400,000 and use the $150,000 I got from cashout-refinance, as a Down Payment for the one Im buying worth $400,000 would I really get the extra $250,000 for the 3rd Mortgage or no??? At this point I owe like $300,000 without that new I want to get of $250,000? Do investors do this? At this point assuming you have no other debt, and you have income that supports the debt, with rental income and W2 income? Is this legitimate? I mean would each loan be treated separately as in like, “can you pay for each loan?” Or will it be too much?

If thats the case, then me using the 90,000 as down payment wouldnt even work, because the lender will say no, because I owe 150,000 and the 90,000? So then its too much?

Oh so, my debt of 150k from first mortgage will be taken into consideration as debt? Even though, I want to treat it separately?

I dont see why it’s 90k?

Let me ask this; For instance I own a home worth $300,000, and over a couple of years I pay down on loan and own $150,000 in equity, or 50%($150,000) let’s say I want to cash-out-refinance, and get like 80% of that $150,000 cash sum loan, now, let’s say if I use that towards another mortgage, will I really qualify for 3 loans at this point? The first I still owe $150,000, second I took out of $150,000, and now I buy a third home worth let’s say $400,000 and use the $150,000 I got from cashout-refinance, as a Down Payment for the one Im buying worth $400,000 would I really get the extra $250,000 for the 3rd Mortgage or no??? At this point I owe like $300,000 without that new I want to get of $250,000? Do investors do this? At this point assuming you have no other debt, and you have income that supports the debt, with rental income and W2 income? Is this legitimate? I mean would each loan be treated separately as in like, “can you pay for each loan?” Or will it be too much?

People are humorous, if he is even making monthly rent early, kick him out, sue him, do Airbnb yourself, more money! 🤔😱

People are so blind; These 1% are screwing you letting you live on Percent, a corrupt capitalism system, while everyone is afraid to play around the rules a little. Those tall buildings they are building, skyscrapers, they got those by your ‘percent’ you folks pay, they are illegal frauds, so when you play a little dirty, people yell, “loan fraud” funny Arthur

Your only way to prove what is your primary residence is if you are ‘occupying’ the residence, since you are not but willing to lie for a better refinance terms, you can prove it’s your primary by having most of your documents, mail, etc, actually all to be delivered to your primary residence. I just recently dealt with this issue, but for a different reasons, business generating rental income, to avoid capital gains, but it doesn’t matter they can’t find out, unless they send someone to audit you, very unlikely. So there is really no other proof to prove that you live somewhere else. Arthur.