
3 August 2024 | 16 replies
Under the IRS rules, a person qualifies as a real estate professional if: (1) more than one-half of the personal services the taxpayer performs in trades or businesses during the tax year are in real property trades or businesses in which the taxpayer materially participates, AND.....(2) hours spent providing personal services in real property trades or businesses in which the taxpayer materially participates total more than 750 during the tax year.Like @Greg Scott and @Russell Brazil mentioned above, I don't believe that you would qualify as a REPS, but if you are going to try it, make sure you document it very well (i.e. with some kind of proof, like time cards, mileage forms, and/or receipts, etc.) so that just in case you do get audited, you at least have something to provide to the IRS agent.

3 August 2024 | 4 replies
Does anyone know an agent/manager who can provide insights on the tenant screening process and possibly guide us in the right direction?

2 August 2024 | 29 replies
I can payback the loan in 24 months and have been approved for the loan.

2 August 2024 | 10 replies
Finding lenders and mortgage brokers that specialize in DSCR loans will help with getting better terms as they have investors comfortably buying these loans after the loans fund which helps replenish the lenders cash for more loans to investors.

2 August 2024 | 3 replies
Liberty area I currently make 70k and have roughly 20k to put down and I also qualify for a VA loan.

4 August 2024 | 12 replies
Mortgage rates declined to their lowest levels in over a year, a sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.

3 August 2024 | 8 replies
The lender will see it and frequently require the buyer clear it before approving the loan.

1 August 2024 | 4 replies
We have also started using our 401K’s to take loans out to purchase properties.

2 August 2024 | 10 replies
I assume you’re simply trying to get a regular investor loan in your own name for 50% of the value to pay off the other heir?

2 August 2024 | 20 replies
I have tenants pay it directly with the utility provider when possible.