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18 August 2024 | 52 replies
Must give my opinion.I've taken numerous training classes/ workshops over the last decade.
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15 August 2024 | 7 replies
They would be very helpful when discussing if you can benefit from cost segregation as it's a case-by-case basis.Here's an article with additional FAQs on cost segregation studies that you may find helpful.
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13 August 2024 | 16 replies
I can't count how many times lenders try to assign a percentage of ownership to a Trustee when numerous attorneys have explained to them that it doesn't work that way, etc...
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15 August 2024 | 57 replies
There were numerous reasons including I was cocky (I expected with my level of rehab experience I would never bust budget substantially).
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15 August 2024 | 21 replies
None of this speaks well for owning property in an IRA.While trying to find related examples, I found another argument I would have certainly lost regarding accounting for a checkbook controlled IRA LLC: “Providing un-tracked accounting services for your own IRA LLC can result in a both an excess contribution and a prohibited transaction.”http://www.prweb.com/releases/2011/02/prweb4300264.htmAccording to the article, “Although there are some exemptions for services provided to a retirement investment plan, they do not extend to services provided to entities owned by the plan.”I guess you guys are right.
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15 August 2024 | 29 replies
Business lines of credit in my experience will often be high doc, so you need to have your articles of organization, the EIN number from the IRS, any other mbr/managers may have to be signatory to the debt (vs non-PG), and depending on the bank, they often want to see business tax returns.
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13 August 2024 | 5 replies
Thanks Check out this article on BP published on this exact topic - the "5-10 Unit Multifamily Niche" has some very specific financing options - including, the Multifamily "DSCR Loans" that @Brian Cauldwell mentioned - these look like SFR loans (no tax returns, 30-year fixed, Rent/PITIA to calc DSCR etc.) but are for slightly bigger propertieshttps://www.biggerpockets.com/blog/multifamily-dscr-loans
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13 August 2024 | 11 replies
I have begun reading books and articles trying to educate myself before I start this journey.
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14 August 2024 | 11 replies
Hi Joey, house hacking is what I did here in Columbus, Ohio when I started investing in 2020.Here is an article with more information on what a house hack is - https://www.rocketmortgage.com/learn/house-hackingLet me know how I can help!
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13 August 2024 | 6 replies
While I understand that there are numerous variables in flipping homes, this change in approach really stood out to me.