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19 November 2024 | 5 replies
What specific questions do you have?
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21 November 2024 | 10 replies
Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4 X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.
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20 November 2024 | 5 replies
In those two specific states there is just a ton of build-able lots especially SWF so you dont have a supply issue like other areas of the country that are supply constrained and therefore prices are holding or even rising a tad.
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20 November 2024 | 4 replies
If you have specific questions about property management, I'll be happy to help!
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21 November 2024 | 23 replies
Being in North Carolina gives you a great mix of in-state potential and easy access to nearby markets.As you connect with others, don’t hesitate to ask about any specific steps in wholesaling, flipping tips, or how to evaluate rental properties.
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18 November 2024 | 15 replies
If I were to apply for a CFO role now, more than likely I have to advantage over a CFO that was in a manufacturing company for a real estate company.EAs specializes specifically in taxationCPAs have a broader knowledge for accounting, auditing, financial planning, and taxation.EA must pass a 3-part IRS exam and do not require a college degreeCPA need a degree in accounting, 150 credit hours of education, must a 4-part CPA exam.EAs often charge a lower fees
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19 November 2024 | 7 replies
I don't know much more specifically so ask your CPA about gift taxes (I think she could give you $17k of gift money a year without taxes) or capital gains taxes if/when you want to sell.
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17 November 2024 | 7 replies
While residential development is generally restricted in these areas, there are specific circumstances under which it may be permitted:Special Mixed-Use Districts (MX): In certain M1-2 zones, residential use is allowed when paired with a residential district under the MX designation.
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19 November 2024 | 6 replies
If so, which specific neighborhood?
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18 November 2024 | 3 replies
We're not entirely familiar with how the fractionalization of an existing property would work in NY specifically.