Kristian Kotov
What are the Options for My Client?
13 January 2025 | 6 replies
However, there's a loss on the 2023 Tax Returns, and Net Income is $45,000 in 2022 (Client has lots of writeoffs) What loans could I use that only consider:- Bank Statements - 1099s - Credit Score Please contact me with options.
Helena Goyvaerts
BRRRR - Experiences with the refinancing part for non US-citizens?
6 January 2025 | 10 replies
@Helena Goyvaerts it will be tough without 2+ years of USA tax returns showing you are profitable.Higher interest rates have negatively affected most lenders and many of them are getting more aggressive with offering more flexible programs.
Samuel Hudson
Weehawken rent registration
15 January 2025 | 5 replies
Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you .
Dallas Morioka
Using Seller Financing to Buy Primary Home
16 January 2025 | 0 replies
My question again stems around using seller financing to allow them to receive a consistent monthly pay of X amount and delay/lower their tax bill in the short term instead of going through a lender to borrow 800k+ causing my mortgage to be significant part of our income roughly 40-50% of take home - which we are approved for LOL.
Jose Mejia
refinancing a property from hard money lender
13 January 2025 | 14 replies
Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).
Tuan Tran
Section 8 Fort Wayne, IN
15 January 2025 | 7 replies
Rents have been pretty close to what the housing authorities advertise, sometimes even a bit higher.Fort Wayne’s a solid spot with low taxes and good cash flow—definitely worth looking into.
Mike Levene
House Hacking In Expensive Markets
16 January 2025 | 23 replies
It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!
Brandon Morgan
is an LLC necessary?
16 January 2025 | 29 replies
There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.
Nic Williams
Can you make money in Alaska with a 4plex?
3 January 2025 | 2 replies
The Big plus is the tax deductions they will be able to take as well!!!