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4 March 2024 | 2 replies
I would like to start the brrrr method
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6 March 2024 | 1 reply
Between my wife and I, we own three properties and have used the BRRRR method.
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7 March 2024 | 9 replies
As such, payments that you make need to be prorated between business deductions and personal deductions.
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7 March 2024 | 5 replies
You have to calculate based on a more than a few things like loan amount, down payment, taxes, Insurance, (Any HOA) PMI, based on credit, etc.If you are 1099 the Bank can look at the most recent 1099/Schedule C if you have been in business for 5 years or more with a 25% ownership in company or more.
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7 March 2024 | 0 replies
Primary - 4bed/2bath, 2200SF, 3car attached, 1/2acre lotMortgage = $330k, Payment = $2100 PITI, Value = $450-475kRental - 4bed/2bath, 1600SF, 2car detached, 1/2acre lotMortgage = $190k, Payment = $1600 PITI, Rent = $2100/mo, Value = $330-350k-Market rent is closer to $2500, but we kept the rent low to help the family that lives there.
7 March 2024 | 11 replies
We could do what we did before and just save up a down payment -- I'm sure we'll actually have enough before we're ever able to find a good deal again :) But we are wondering if it would still make more sense, if we're able, to use equity in our first one for the down payment.
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7 March 2024 | 18 replies
Keep solid records of every rental money move, get cozy with the right tax forms, and think about making estimated tax payments throughout the year to dodge penalties.
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7 March 2024 | 4 replies
I've looked online but couldn't find a lease that has anything about not being able to claim ownership of the property, most were focused on rent payments which I'm not concerned with.
7 March 2024 | 0 replies
Didn’t need the equity for a down payment of new house and it’s in a great area that could produce significant cash flow.
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6 March 2024 | 13 replies
I am ready to start investing in properties with the BRRRR method and am trying to figure out which of these three areas is the best?