Ralph Godwin
Metro flippers investments
25 September 2024 | 10 replies
I looked into possibly obtaining loan and they required 1% of loan amount for a pre-approval letter and no fund of the 1% fee.
Michael Davis
Need someone to stamp plans ASAP
26 September 2024 | 10 replies
Now, the expediter says they will only approve stamped plans.
Haemi Jung
Capital gains Tax
27 September 2024 | 8 replies
Many people are suggesting to do a 1031 but have no idea what your gain / tax is(if any).Co-ops in the tri-state area 'normally' don't appreciate a crazy amount.The main reasons is the high monthly maintenance costs, over-leverage of the board, potential difficulty of buyers getting a mortgage and the approval process of the buyer.With that said, talk to your CPA to discuss what your gain / tax would be before thinking about a 1031 exchange.If your tax burden is low, don't bother with the 1031It may be possible that you have suspended passive losses to cover your tax burden.best of luck.
Duane A. Snow
Personal loan for deposit for DSCR
26 September 2024 | 7 replies
If you have no liquidity I highly doubt a lender will approve your loan request.
Desstani R.
150,000 to start investing and don’t know where to begin!
27 September 2024 | 13 replies
The nice thing is you can do all of that from the comfort of your mobile home, Airbnb or however you are traveling!
Sanjeev Advani
Tempur Sealy Sells Stores to Clear Path for $4 Billion Mattress Firm Deal
25 September 2024 | 0 replies
Tempur Sealy, the world's largest mattress supplier, is divesting 176 Mattress Firm and Sleep Outfitters stores to gain approval for its $4 billion acquisition of Mattress Firm.
Dennis Smith
MTR-Mid Term Rentals class recommendations
27 September 2024 | 27 replies
However, both mobility and technology and the ability of more people to work where they do not live, has grown this niche, as @Dennis Smith has argued.
Joyce Kim
Personal financial hardship - HELOC vs Home Equity Loan?
25 September 2024 | 12 replies
@Joyce KimHELOC and home equity loan are not the sameEquity line of credit is a line of credit that let’s you withdraw up to specific amount and you can take less and pay interest on what you drawFor example if you had a $50k line of credit you may choose to use $20k of it and it is usually ten years where you can pay it off and draw moreA home equity loan is a second mortgage which is a fixed amount and paid off over a period of timeHELOC is better in my opinion but if you have no income it will be difficult to get approved even with the equity you haveCommon misconception people have is if you have equity you can just take it, that’s not the case the bank also wants to make sure you have the ability to repay it.
Sigmund VanDamme
Whats everyone using for Mid-Term Rental Software
24 September 2024 | 5 replies
I think, for now, I’ll probably use Buildium (my current software) and manually enter into furnished finder and AirBnB and require approval so it doesn’t auto schedule and so I can send a proper lease.
Rheis Cloutier
Financing through HELOC
26 September 2024 | 2 replies
A cash out refinance puts the cash into your bank and can be used as PITI reserves or as an asset.A Heloc becomes another trade line on credit which can potentially cause a higher DTI and lower your chances for future approvals.