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4 October 2024 | 8 replies
You might find it is overall better to do a MTR if the area can support it.Being on VRBO is a must if you keep it a STR.
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7 October 2024 | 20 replies
As for audits, the IRS may scrutinize high-income taxpayers claiming REPS, so detailed time logs and supporting documentation for material participation are crucial.
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6 October 2024 | 33 replies
When someone presents to "tap" Private-$ we want to do as little thinking as humanly possible, that's to say the burden is on you the proposed borrower to present a complete, detailed "pitch" outlining the allocation of every cent, contingencies, time-lines, data supporting each action item.
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4 October 2024 | 15 replies
Yes if you mean support yourself after you finish your regular job effectively using rent as a pension.
3 October 2024 | 1 reply
Negative cashflow is never a good idea (even if you can support it).
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2 October 2024 | 15 replies
You have to have some skin in the game or else why would anyone risk their money on you?
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3 October 2024 | 2 replies
A link to FilePlace is at the bottom of every page, so it is easy to find.If you have technical issues, send an email to support@biggerpockets.com and someone will help you.
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2 October 2024 | 0 replies
They should be responsive and communicate clearly, possess a strong understanding of the local market, offer reasonable rates, and support borrowers throughout the process, all while ensuring legal compliance to protect your interests.
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3 October 2024 | 8 replies
If you are planning to use a DSCR loan, lenders will want to see a valid lease, utility bill, or official document supporting you are living somewhere else.
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6 October 2024 | 36 replies
Even if the numbers look good now, ensure the local rental market can support your projected rents.