12 May 2024 | 12 replies
I have plenty of clients who 'make' enough and would have no trouble qualifying, but there is a benefit to keeping liability off of yourself and funneling your debt, et al. through the asset itself.Plus, if you keep it at 1-4 units, most DSCR lenders would still qualify that as "single-family" so you would still be eligible for 80% leverage on purchases and 75% (or sometimes 80%) on refinances.
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13 May 2024 | 237 replies
This is a fundamental issue that is not discussed enough on this forum.
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10 May 2024 | 7 replies
For condos to be eligible for a Fannie Mae-insured loan, developers must presell 70 percent of their units."
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10 May 2024 | 15 replies
In general, rental related real estate, is considered a passive activity.That means, that passive losses, are not eligible to offset income such as wages, interest, dividends,etc.However, I would still argue that real estate is great from a tax perseptive, making $270,000 you are likely in the 30%+ tax bracket when you factor in Federal and state taxes.Rental income, which is normally shielded by depreciation, will not be subject to the 30% tax as would interest and dividends.Best of luck.
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9 May 2024 | 4 replies
Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.
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9 May 2024 | 2 replies
Let’s dive into it.Potential consequences of working with an unqualified firm:Missed opportunities: Firms that are inexperienced may overlook numerous components that are eligible to be reclassified as they lack the knowledge or don’t perform a thorough analysis.This reduces the amount of potential deductions which also reduces your potential tax savings!
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9 May 2024 | 43 replies
With all this information here, you should check with your accountant or advisor on which IRA, solok, etc plan is best for you or eligible for to roll over your 401k.
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9 May 2024 | 28 replies
There isn't a special provision for "act of God" having no impact.For instance, if lightning strikes your house and you file a claim, it still counts as a claim and your insurance price could increase or eligibility for coverage could be affected.
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10 May 2024 | 116 replies
And there is a fundamental difference between the two, and part of me worries that a lot of the common REI techniques pitched on here operate without any concern about net worth.
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8 May 2024 | 14 replies
It's necessary to determine what is eligible into bonus depreciation.6.