All Forum Posts by: Ryein Goddard

Awesome, that is exactly what I needed to know.  Thanks.

One question though, if the depreciation is negative you won't have that included as income when apply for another loan or mortgage right?

Yeah that is what I have read a lot.  Is that something that is published in a calculator?  I have just been using a spreadsheet, but not sure if I could verify my calculations some how?  Or is all the variables not standard?

I have had a rental for two years about to file for the third year in taxes, but before I do that I wanted to ask how I should file.

I have a lot of conflicting information in this regard and was hoping some one could clear it up so I can rest assured and get mortgage in the next few months.

So basically I have two rentals.  One is a single family home that has had the same tenant for over 2 years and always paid on time, but when we filed our taxes we had deprecation.  We were thinking of not using it when filing this tax year, but we are not sure if that is required because really we just want the income included so we can get another mortgage.  The second house is the house I am moving out of and about to rent and will of course be a new rental with a lease.

So is it possible to file my taxes with deprecation and still have it included with a mortgage broker, or do I need to just file without it?

Thanks

I don't think it is a matter of my agent and I getting on the same page.  Clearly this person doesn't care so I will just move on and find some one else who is on top of their stuff.

Thanks for your thoughts. 

The listing agent literally told me he contacted our agent and our agent failed to contact us about the offer being declined and asking for a counter.

Just heard back from the listing agent and I guess they contacted our agent so we could counter, but he never contacted them back on our behalf. 

I found a really great property that had no offer and had been on the market for a long time.  I made an offer through a real estate agent, but the next day the house has a pending offer and mine is rejected.  Am I being paranoid?  Did the agent steal my deal?

That's good to know.  I will just have to go and talk with multiple places and see what they can do for me. 

I am working on getting my second rental ready that I am currently living in.  I want to be able to move out of this home and get another.  In July my first rental will have 2 years of tax returns.

Does my first homes rental experience also mean I could potentially add my second rental's income to my income when calculating debt to income ratio for a conventional home loan on my 3rd property I plan on living in even though I have only owned it for one year and haven't had it rented yet?