Nolan Ring
3/3 lenders have no idea about FHA loans
21 November 2024 | 10 replies
All this fancy mumbo fha guideline gumbo means is that your projected market rents assuming all units, if it were rented Times 75% need to be greater than what your monthly payment is (PITIA = principal/interest/taxes/insurance/assessments monthly), other wise FHA will not lend at that loan amount so common solutions to this when rents are too low in your local market are to put more money down payment which defeats the whole purpose of low 3.5% down FHA doesnt it?
Karl Kauper
Worst-Case Scenario Eviction - Massachusetts
21 November 2024 | 10 replies
You file for eviction and they employ multiple delay tactics that extend your court case 3-6 months without batting an eye, all while not paying rent.
Brandon Staines
Girlfriend and I broke up , Now what about the house?
19 November 2024 | 7 replies
Best option is to either sell the house or have her buy you out at today's market value PLUS return the money you've already invested (ie down payment, paying down the mortgage principal).
Sheena Varghese
Flip taking longer than a year and tax implications
22 November 2024 | 12 replies
I personally recommend working with a CPA who prioritizes integrity and accurate tax return filings, so that if you're ever audited, you won’t face back taxes, penalties, or interest.
Sahara Faughn
Please advise - Covid-19 partial claim, Preforeclosure auction and home sale
14 November 2024 | 12 replies
I found a buyer for my home, got a payoff statement from the mortgage company stating the payoff was $247,000 (principal at $233,000 + fees and charges), the buyer was willing to pay $271,000.
Allison Somera
Thoughts on DSCR Loans for Investment Properties?
20 November 2024 | 9 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).
Isuf Aruci
Land development & Spec building
22 November 2024 | 7 replies
Do you have the knowledge in this filed of realestate ?
Sandra DeJesus
HUD is requesting partial claim after closing on my house in 2015
16 November 2024 | 24 replies
You should file a claim against the title company.
Pete Harper
1031 into upREIT
18 November 2024 | 8 replies
The transaction allows investors to increase the liquidity and diversification of their real estate investments while deferring costly capital gains and depreciation recapture taxes that may result from the sale of a property.Benefits: REITs also can provide the same ongoing benefits of real estate ownership including income, depreciation tax shelter, principal pay down, and appreciation.
Vidal Gonzales
LLC or not?
20 November 2024 | 3 replies
I know the LLC needs to be filed in the state that it does business.