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24 February 2025 | 5 replies
If you find a property where the seller doesn't carry a mortgage, it is a great way for the seller to continue to settle the closing costs with a (sizable down payment) while still obtain income for 6 months to a year by holding the note for the borrow.
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10 February 2025 | 21 replies
Don't pay ANYONE or any company a dime outside of an appraisal until the deal funds.
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3 February 2025 | 8 replies
That complicates enough I'd consult with an entity/asset protection pro.I don't hold residential assets in LLCs unless partners got involved.
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26 February 2025 | 13 replies
While most DSCR lenders require 20-25% down, some allow lower down payments under certain conditions:1. 15% Down DSCR Loan✅ Some lenders allow 85% LTV (15% down) with strong DSCR (1.2+), good credit (700+), and reserves✅ Higher interest rate compared to 20% down✅ May require prepayment penalty2. 10% Down DSCR Loan (Rare & More Expensive)✅ Available for experienced investors with strong financials✅ Often requires higher reserves (6-12 months of PITI)✅ Could involve seller concessions or second lien financing3. 0-10% Down with Creative Financing🔹 Seller Carryback: Find a seller willing to carry a second mortgage for part of the down payment🔹 Cross-Collateralization: Use equity in another property instead of cash down🔹 Gap Funding / Private Money: Partner with a PML for the down payment
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23 February 2025 | 4 replies
Active losses (while REPS) for active income.
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28 January 2025 | 5 replies
It’s been a while, but I finally managed to get back into the BP forum—great to be here again!
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7 February 2025 | 0 replies
If I were to purchase an Airstream to use as lodging while I travel across the US to my rental properties, make repairs, and perform lease turnovers, would I be able to not only deduct fuel and campground costs but also depreciate the purchase price across 5 years?
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5 February 2025 | 21 replies
It makes sense for a PM to be Additional Insured on a landlord policy because they can't get insurance coverage on a property they don't own.
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6 February 2025 | 5 replies
Buying a portfolio might lead you to making decisions you don't have the experience and foresight to make well.
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8 February 2025 | 12 replies
I had a W2 while working as an agent before transitioning to full time - most folks are in this position.2) You will likely pay your broker a typical commission split even if you are representing yourself.