I'm looking at putting an offer in on a property utilizing an FHA loan.

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

I was hoping to get some advice on how best to utilize my savings.

The summary was that 30k properties generally couldn't produce rent high enough to sustain the cost of long term CapEx and maintenance.

Large utility room with space for shelving and full sized washer-dryer.

No loan, all cash.The expenses have been divided by categories (materials, utilities, paid contractors, insurance, other outside services, etc) and listed on the 1120S using TurboTax Business.My question is, how do I determine the Total Assets for Item F of Form 1120S?

Right now the owner pays the majority of the tenants' utilities (gas & electric/water & sewer).  

Hi All, I recently learned an important lesson: Don't forget to require recently utility statements before closing on a property.

Has anybody had success getting their first few properties cash-flowing and then documenting that as sustained income for conventional financing on a new deal? 

My wife and I are working on purchasing our first duplex where we would utilize an fha loan to owner occupy the smaller of two sides.