11 March 2021 | 1 reply
If you owned a $1,000,000 property sitting on $100,000 of land, then the building itself would be worth $900k, but that $900k loses functional value each year by was of depreciation and the GOV lets you claim a loss to compensate for that along the way (there are qualification guidelines here that I don't fully understand, so consult a CPA or someone smarter than me for further insight)So, on the basis of depreciation loss alone you've got the potential for a great tax benefit, not to mention that your interest payments and all the other costs of ownership are deductions, it's a killer deal.
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12 March 2021 | 4 replies
Fannie and Freddie changed their guidelines on properties coming from an LLC to your personal name, in that they consider the time held in your LLC to also satisfy the 6 months seasoning requirement.
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26 March 2021 | 11 replies
I wish I have done it way sooner but glad still did it and gamble my way in.
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11 March 2021 | 5 replies
Of course the fewer you have in the unit the less ware and tare but you can't discriminate based on it for family status with children to be more restrictive than your local housing guidelines.
7 April 2021 | 13 replies
Account Closed Under the CDC guidelines you are NOT prevented from filing for eviction.
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12 March 2021 | 1 reply
FHA guidelines require a 580 score minimum, where HomeStyle generally looks for a 680+.
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16 March 2021 | 2 replies
I cannot speak for every credit union or bank and what their guidelines are but I will say that all of the commercial/portfolio lenders I've worked with have honored the 6 month seasoning requirement from the day your name was put on title.
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13 March 2021 | 6 replies
I am exploring the different types of loan options I have and had a question about 2nd home/vacation home loans...I understand all the financial aspects but as far as the other guidelines go...
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12 March 2021 | 13 replies
The answer to this question has to do with a lot of variables, so it's hard to give you an exact answer and rather just general guidelines and points to think about instead. 2.
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15 March 2021 | 5 replies
It could also lead to Non-QM changing their guidelines for the worse as well.