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1 April 2024 | 10 replies
You don't want to collect the rent from yourself and report it again.
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1 April 2024 | 5 replies
The one major difference is that when you close under the LLC and you use a non-recourse lender or one that doesn't report the debt to your name, everything is separate from your credit. i.e., - the mortgage will not be reported under your own credit, but live within in the entities EIN.
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2 April 2024 | 9 replies
I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.
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31 March 2024 | 12 replies
They are planning some market insight reports and more supply and demand data on a market level.Thanks for sharing Jamie.
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1 April 2024 | 48 replies
You will be closer to $90,000 if you do this the right way and I'm not talking about the ADU being included.
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1 April 2024 | 14 replies
She also told me that the owner is from Mexico, he does not report everything and is earning more income than reported.
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1 April 2024 | 51 replies
A quick eye ball measurement tells me the total counter SF including the backsplash is no more than 24 ft of material.
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1 April 2024 | 4 replies
He was calling to report that he has repeatedly found his roommate watching adult videos on the TV in their shared living room, and more recently walked in on him in a similar state in their shared kitchen.I'm unsure of how to approach this one.
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1 April 2024 | 7 replies
Apparently, the contract I executed included a clause for PMI for the life of the loan.