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Results (262)
Seth Larson VA to Non owner occupied Refi advice
23 January 2016 | 16 replies
In the VA guidelines, I can only find the following verbiage:A basic requirement of the law governing the VA home loan program is that the veteran has a bona fide intention of occupying his or her property as a home.
Nate Roman Pre-qualified versus pre-approved
2 November 2005 | 10 replies
jandr is exactly right, I just never contemplated "pre-approval" aka"shopping the loan" as a bona fide system.I do my job, and then based on knowing the matrices HAVE a home for the loan based on familarity with lenders and their programs Before Submitting same.Lenders don't like(as a rule) multiple "submissions" while I know this was never mentioned by jandr, this is what 1 would be led to beleive.We don't submit partial or full packages to lenders (normally) for a "pre-approval", we submit them for FINAL approval, clearing of conditions, and funding.I have submitted contingent on credit, spoken w/head underwriters, etc., just prefer to not "shotgun" or even solicit the file unless 95-99% feedback from A/E/Underwriter is positive and we're just dealing with a specific exception to their guidelines...it is NOT wise (imho) to submit a "package" to either multiple lenders, nor to "partially submit" a file unless there is some specific issue w/the borrower/property that needs to be dealt with in advance of complete submission.
Rich Hupper Two flips this year how to avoid self employment tax
11 October 2018 | 64 replies
If over $130k - then you should really stop worrying about the self-employment tax on the flips, as you would have maxed out on its biggest component: Soc Security.Next, two minimal participation flips might (it's case by case) escape the self-employment tax if they qualify as short-term capital transactions rather than a bona fide flipping business.
Mark C. Are there tax benefits to having my own handyman llc?
23 May 2024 | 3 replies
., but it might make sense especially with Roth IRA or Roth 401k contributions.It gets tricky since you need a bona fide business to business relationship... doing other property management and / or handyman services helps create an arms-length relationship (and rise to Section 162 definition of being a business and not a self-dealing transaction).
Peter Walther Alaska appeals court decision on the affect of a mortgage interest described on a CL
24 January 2023 | 0 replies
It determines the rights of an individual lender who inadvertently described his lien on a mechanics lien form as it applies to a bona fide purchaser. 
Stephanie Bureau Getting Paid while Driving for Dollars?
10 April 2016 | 5 replies
@JR T This article says, "Courts have long held that hiring on the basis of sex is permissible where sex is a bona fide occupational qualification in the context of serving privacy interests." 
Ron Thomas 4 reasons wholesaling is bad, and 2 reason why its good
16 April 2015 | 13 replies
This is arguably still not investing, insofar as it’s not a capital investment on your part anyway, but the returns, structure and upside more closely resemble a bona fide investment.
Wes Peters Purchasing foreclosures, only a game for the rich?
29 January 2017 | 56 replies
., the act applies to a "bona fide tenant" who is leasing at market rate. 
Aaron Mazzrillo The answer to those "wholesaling is illegal, unethical, immoral" statements...
25 October 2014 | 137 replies
That is very different from a wholesaler who presents his offer as "cash" when he has no cash, advertises "quick sales" when such sales are entirely beyond his control, and generally is in the re-marketing business, not a bona fide buyer.
Jerry Batista New Member from Rhode Island
30 June 2016 | 14 replies
It's a bona fide multi-family but I still think usually a better tenant mindset than 3 or 4 family.