Nathan Stone
Is Homeroom property management any good?
21 April 2024 | 22 replies
There is no way the house would rent as much if it was rented as a whole versus by room.
Iris Sanchez
Can I use rental income to get a loan
19 April 2024 | 5 replies
Based on the information that you have given, the loan application would be in your name since you seem to be the only one employed and use the rental income (75% of rent) to fully qualify you using your employment income, rental income versus your liabilities.
Sharon Supera
To keep or to sell
19 April 2024 | 3 replies
If the ROI seems low or if the renovation costs are prohibitive, selling might be a more practical option.Cash Flow Analysis: Currently, your property isn't cash-flowing positively when considering your mortgage, management fees, taxes, and other expenses versus your rental income.
Mark Koontz
Financing Options / Appraisal Issues
19 April 2024 | 9 replies
Neither of these require income verification and much easier to navigate versus conventional.
Robin Simon
What’s Next For DSCR Loans? Updates For 2024 and Beyond
19 April 2024 | 13 replies
@Zach EdelmanMost will use the lower of Lease versus Fair Market Rent as determined by the appraisal.
James Wise
NAR Lawsuit Settled! Offering Buyer Agent Commissions in the MLS now Illegal!!!
25 April 2024 | 209 replies
The agents that actually help these buyers are the ones at times working the hardest due to all the back-and-forth negotiations that need to be done versus someone 50% down placing an offer with no need for closing cost covered etc.
Michael Hardler
HH Taxes: 1040 E or 1040 C?
19 April 2024 | 10 replies
The decision to use Schedule E or Schedule C for reporting rental income from house hacking can depend on various factors, including the nature of your rental activities and how you've structured your rental business.Schedule E is typically used to report rental real estate income and expenses for individuals who own rental properties as investments or passive income sources.Schedule C, on the other hand, is used for reporting income and expenses from self-employment or business activities, including activities that are considered to be actively managed.The interpretation of the tax code and the determination of which schedule to use can vary based on individual circumstances and the tax preparer's expertise.Your tax preparer may reference relevant sections of the IRS tax code, such as IRS Publication 527 (Residential Rental Property), IRS Publication 334 (Tax Guide for Small Business), or other applicable publications and regulations.Factors that might influence the decision include the level of involvement in managing the rental property, the intent to generate passive income versus active business income, and the structure of your rental business (e.g., sole proprietorship, partnership, LLC).Ultimately, it's essential to work with a tax advisor or accountant who understands your specific situation, goals, and the nuances of rental property taxation.
Dylan J.
Off Market deal etiquette - agent representation
18 April 2024 | 11 replies
Part of the agent’s process will be to reach out and find out how much compensation the seller would be able or willing to commit to, versus how much compensation you are responsible for.If there is no buyer broker agreement in place, you are free to do as you wish, however, if you want representation and were hoping the seller will pay your agent, the agent should be the one to reach out to the seller first to make inquiries and secure a compensation agreement with the seller.
David John Forliti
Conflicting information on 2BR/3BR vs larger houses
18 April 2024 | 14 replies
Going through the different information can be confusing, especially when it comes to choosing between 2 or 3 bedrooms versus larger homes.
Grant Gibson
Popular and well respected multi-family syndication groups?
17 April 2024 | 22 replies
Sometimes it's ambiguous, but even then, why should I bother with the company that has numerous unresolved lawsuits, versus another company that is virtually the same but has none.