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29 March 2024 | 8 replies
They will look to work with small operating companies to get sba loans, but they will want to see two years of income : tax returnsSo if the company is a general contractor then its income / expenses could get it some sba loan but if you are fixing and flipping and are looking to get a mortgage they will look at you not the LLC
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29 March 2024 | 7 replies
HI Hernan,You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.
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29 March 2024 | 7 replies
You would just have to be able to qualify from a debt to income ratio stand point.
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29 March 2024 | 17 replies
I’m really looking for a good income.
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29 March 2024 | 7 replies
This is not a means for you to invest in real estate personally, and you cannot personally benefit such as by keeping the income yourself.
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29 March 2024 | 12 replies
Most financially independent, wealthy people get there through hard work, sacrifice, and time.Spend 2-3 months learning how to analyze properties, cut expenses, increase income, and save up as though your life depended on it.
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28 March 2024 | 4 replies
You could partner and offer a preferred equity position (i.e. payment of a set interest rate on a monthly basis + some type of fixed annualized return when you either refi or sell).But with either option, which are your most realistic options for this deal, you will have to show some significant upside.
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27 March 2024 | 4 replies
Your greatest challenge is going to be running this management company without the appearance of co-mingling all of the LLCs together.Bear in mind that one of the things that you'll be doing here is converting Passive Income to Earned Income via the Mgmt Company and that will be subject to self employment tax whereas had you left everything in the property LLCs, you'd have only passive income.
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29 March 2024 | 9 replies
DSCR no income no doc is the best route to go and rates are competitive with full doc programs .
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28 March 2024 | 5 replies
You should set up a separate account for your cap x expenses and your annual vacancy rate.