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19 March 2024 | 16 replies
@Mitrah Rasti the deed and loan are separate issues.Your partner should be able Quit Claim her ownership to you without triggering the lender's due on sale clause - as one of the lendees (you) will still be on the deed.You should check with your local municipality to make sure how this may impact your property taxes.You should also check with a tax professional to see if there will be any income tax impacts of the Quit Claim.Lastly, NONE of this will remove your partner's name from the loan.
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18 March 2024 | 14 replies
All of the above, and they will look at your personal debt to income ratio and likely need tax returns whereas hard money doesn't need that.
19 March 2024 | 12 replies
Typical rates are 8-12% of income either monthly or yearly depending on manager.
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18 March 2024 | 5 replies
@Jose BotelloThe idea of selling your current home and purchasing a duplex as a way to start your investment journey is a strategic move, especially with the potential to generate rental income from one side.
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18 March 2024 | 6 replies
You will pick up all of the income and expenses from Open Door Capital on your 1065 and then issue K-1s to yourself and wife for your proportionate shares of your LLC.
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18 March 2024 | 7 replies
Rental income, closing costs, rehab costs?
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18 March 2024 | 2 replies
My husband started a business recently so income isn't steady and my income is on the lower end and we are struggling to cover our expenses since we have so many high interest loans.So my question is like this:1.
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19 March 2024 | 12 replies
Consider how you'll reinvest rental income, save for future down payments, and scale your real estate portfolio over time.Ultimately, the decision to invest in real estate or continue with your index fund investment depends on your individual circumstances, goals, and risk tolerance.
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18 March 2024 | 7 replies
I only have one property and it’s got around 80k in equity that I can’t use until mid July but make decent income from that rent, my plan was to use the initial cash out refinance to do a fix and flip or 2 to pay back the refinance and use profits to go towards another rental but the waiting period I feel is making me miss out on a lot of opportunities.
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18 March 2024 | 23 replies
Do those go to the corporation as income?