All Forum Posts by: Hen Ley

@Andrew Postell, Strong suggestion!  Thanks so much-

Looking to finance a purchase- it will either be a flip or rental. Currently don't have any income and my tax returns don't offer anything that would help qualify. Having a hard time finding a lender that will lend based solely on anticipated rental income for this property (which already has a tenant in place I could keep). Have impeccable credit score, no debt, a history of managing/owning rental properties, able to put 40% down and still have a few years living expenses liquid. Hoping to avoid hard money lenders- Any suggestions as to viable lending sources that would allow me to qualify based on anticipated rental income?

Looking to finance a purchase- it will either be a flip or rental. Currently don't have any income and my tax returns don't offer anything that would help qualify. Having a hard time finding a lender that will lend based solely on anticipated rental income for this property (which already has a tenant in place I could keep). Have a great credit score, no debt, a history of managing/owning rental properties, able to put 40% down and still have a few years living expenses liquid. Hoping to avoid hard money lenders- Any suggestions as to other viable lending sources?

Looking to finance a purchase- it will either be a flip or rental.  Currently don't have any income and my tax returns don't offer anything that would help qualify.  Having a hard time finding a lender that will lend based solely on anticipated rental income for this property (which already has a tenant in place I could keep).  Have a great credit score, no debt, a history of managing/owning rental properties, able to put 40% down and still have a few years living expenses liquid.  Hoping to avoid hard money lenders- Any suggestions as to other viable lending sources?

I'm looking at purchasing a single family home as a rental in the ski/resort town of Sun Valley, ID.  Based on the asking price, it falls short of the 2% rule, instead coming in at about .5%.  I know their are some exceptions to the rule that still make an investment worthwhile-  oftentimes these types of areas do not have a huge amount of growth and are actually restricted in growth because of the limited land to build on, which can drive values.  Sun Valley's property values are also below some other comparable areas, such as Jackson.  Any insights about rental investments in these types of areas would be helpful!

@Eric Nguyen, thanks for the reply.  I'm unfamiliar with insurance for an llc- is this something most people obtain?

Looking at flipping a property- My contingency if the property doesn't sell quickly enough is to move into it to help stop the bleeding, however, it seems many lenders will not allow you to live in the flip. I'm not a candidate for conventional financing to am focused on other means- Any suggestions as to how to navigate this or recommendations for lenders that allow for a live in flip?

Looking at flipping a property-  My contingency if the property doesn't sell quickly enough is to move into it to help stop the bleeding, however, it seems many lenders will not allow you to live in the flip.  I'm not a candidate for conventional financing to am focused on other means-  Any suggestions as to how to navigate this or recommendations for lenders that allow for a live in flip?

Is there a difference in the tax consequences for flipping in a single member LLC vs your personal name? Any suggestions as why to do one over the other?

Is there a difference in the tax consequences for flipping in a single member LLC vs your personal name? Any suggestions as why to do one over the other?