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29 April 2024 | 0 replies
They always say that there are only two things that are certain in life - death and taxes.
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30 April 2024 | 6 replies
I would have about $100k - $120k in equity before agent fees, closing costs, and capital gains tax if sold.
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30 April 2024 | 6 replies
DSCR loans are a great option for anyone that doesn't fit the conventional "box" - DTI isn't a factor, no employment info needed, no W2s, paystubs, tax returns, 1099s, etc. needed, you can close in an LLC if you want to and many lenders don't report to personal credit, so those loans won't affect your credit score/DTI for any conventional financing you might pursue in the future.
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27 April 2024 | 5 replies
Do I also really need to consult a real estate attorney?
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27 April 2024 | 3 replies
Should I create an LLC at this point to protect my personal assets and tax planning?
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29 April 2024 | 2 replies
Calculator should provide amount of conversion tax payments needed, one or multiple conversion options, Medicare IRMAA impacts, various investment percentages of Roth growth vs IRA growth, and RMD amounts with associated tax bill.I’ve seen numerous CFPs hawk their services for $5,000 or more.
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29 April 2024 | 3 replies
Basically if the interest, taxes and insurance (ITI) is equal to rents it qualifies instead of having to qualify rents against a full PITI (principal, Interest, taxes & Insurance).There are also some DSCR options that can use the STR like VRBO which tend to be much higher then the LTR - long term rents.
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30 April 2024 | 4 replies
Unit A is about 100 years old and Unit B is almost completely new.Pros:-The duplex is in a very desirable neighborhood with home value appreciation year over year at about 50+%-Rent is also in high demand within this area-Cash flows well even with high interest rates and increasing property taxes-Home is price below average cost per sq ft-The house has been renovated and some parts of it has been remodeledCons:-All issues are with Unit A, the 100 year old unit.
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30 April 2024 | 3 replies
Taxes are $500 a month and insurance is $250 a month.
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27 April 2024 | 19 replies
Consult an attorney for all legal questions.