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26 November 2024 | 35 replies
Everything I own is in an LLC including my residence.
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19 November 2024 | 13 replies
They need to do all their due diligence including understanding the value that will be added by the ADU, the finance options available, the consequences of adding the ADU (rent control, property taxes, rental limitations, etc), etc.Good luck
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20 November 2024 | 9 replies
Study landlord basics, especially on what to include in your lease (going forward you will ALWAYS have a written lease).(2.5 Learn from mistakes and don't repeat them.)
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18 November 2024 | 1 reply
I am planning to include the estimated property value and the funds that will be transferred into the business bank accounts.
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20 November 2024 | 9 replies
Those are generally at least 1 of the following:1) Where they currently live2) Where they grew up3) Where they currently have family/friends living (if not included in #1 or #2)4) And as a last resort, an area where they like to travel/vacation frequently
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20 November 2024 | 11 replies
Quote from @Carlos Lopes: Gross income doesn't matter.This is the number most people post, and it's 92.7% useless.What you need is NET income, meaning the money left over after all expenses, and that should include a dollar amount for your personal time spent operating the business.
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18 November 2024 | 6 replies
Financing options include cross-collateralization, cash-out refinance, and DSCR loans.Good luck!
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21 November 2024 | 16 replies
At the end of the day, you'll still need good credit, income (rental income from the property will suffice for DSCR loans), and cash to close, including a downpayment (likely 20%+).
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21 November 2024 | 10 replies
The FHA househack strategy is fairly common and pretty straight forward, a lot of people have been using this and/or the conventional househack (myself included) so have been on both sides of the table.
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18 November 2024 | 0 replies
Guests also include families visiting Reno, travelers relocating, weekend visitors, traveling workforces, and Tahoe adventurers.