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30 August 2024 | 29 replies
Properly executed, an investment in these types of property can garner substantial passive losses, often equal to the amount of capital invested (or more) even in years where the benefit begins to sunset.A few words of caution: - The tax benefit is valid as long as the gain incurred from the sale of your properties AND the investment with bonus depreciation occur in the same calendar year. - Be careful not to let the "tax tail" wag the dog.
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27 August 2024 | 2 replies
The calculation typically uses 75% of the property's gross rental income (as determined by an appraiser) to account for potential vacancies and maintenance costs.Monthly Payment Calculation: The total monthly mortgage payment includes principal, interest, property taxes, homeowners insurance, mortgage insurance premiums (MIP), and any homeowners association dues.Test Requirement: To pass the self-sufficiency test, the calculated rental income must be equal to or greater than the monthly mortgage payment.
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26 August 2024 | 2 replies
There is a solution though because there is Non/QM which offers a few programs like (1) year 1099, Bank Statement, and DSCR programs. 1 year 1099 is self-explanatory, Bank statement uses 12 or 24 months bank statements gross deposits and divides that income usually 75% over 12 or 24 months, and DSCR requires No income or job, it uses the rents of the property as income as long as the rent(s) are equal to or greater than the proposed PITI payment.None of the above Non/QM offer construction loans though so you will need to stay W2 or wait 2 years.
26 August 2024 | 17 replies
Now if you were willing to pay rent equal to mortgage, taxes and insurance for the buyer then that could change the numbers.
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26 August 2024 | 9 replies
We're considering renting it and paying that amount in rent downtown to equal the mortgage payment.
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26 August 2024 | 9 replies
Investing out-of-state is tough and finding a strong PM in these cheaper markets is equally difficult.
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27 August 2024 | 21 replies
This amount is fully refundable for any reason if you do not execute a loan commitment with us and you request in writing within thirty(30) days of the date of this letter the return of the $10,000.signing of the loan commitment, a commitment fee equal to five percent (5%) of the Financing Request is due; three percent (3%) would be payable at the signing, and the remainder would be payable from the loan proceeds at closing.
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28 August 2024 | 74 replies
Bigger distillery equals more bourbon.
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27 August 2024 | 21 replies
STRs generally equal more cash flow but more work.
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26 August 2024 | 6 replies
Yes, he can purchase multiple properties of different sorts (single family home, commercial building, DST, Mineral Rights, etc.)One important thing to keep in mind: in order to defer 100% of the capital gains taxes, one would have to spend ALL the cash proceeds from the sale of the property and purchase equal to or greater than the net sales price.