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23 June 2024 | 3 replies
The 8 mos isn’t quite long enough to utilize just the STR income to qualify but many lenders allow AirDnA projections to be utilized as the income to qualify.
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23 June 2024 | 1 reply
Anything greater than 5+ units is considered commercial and usually underwritten based on the occupancy and rental income. - For greater than 5+ multi family properties the 'best' initial source for financing could be a local credit union or bank.
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21 June 2024 | 10 replies
This truthfully offers no additional liability protection.
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22 June 2024 | 13 replies
Owning multiple types of multi-family rentals (Class C and B for now), I have a good grasp of the value, in addition to just public rental data, so not really a problem for me.
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23 June 2024 | 8 replies
Additionally, LLCs can provide tax benefits through deductions like mortgage interest, property taxes, repairs, and depreciation.
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20 June 2024 | 7 replies
She did not qualify for the new loan without using the rent of the old house as income.
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23 June 2024 | 5 replies
**Additional Tips**: Any other advice or experiences from those who have successfully managed medium-term rentals would be invaluable.I want to ensure that my contract is clear, fair, and legally sound.
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23 June 2024 | 12 replies
Are there other types of loans people use to pull equity from their rental to purchase additional properties?
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21 June 2024 | 11 replies
If the properties are split into more than one LLC, then each LLC will need its own accounts.Checking: collect all income here, then use it to pay bills.
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23 June 2024 | 105 replies
You will need additional protection.