6 April 2021 | 8 replies
I personally agree with you. ( but consult your CPA) Before getting into the detail, you might not able to take 20% Qualified business income ( 20% passthrough deduction) if you do not treat this as the profit sharing.
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10 April 2018 | 11 replies
They have more skin in the game then you do.Make sure you get clear title.
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12 April 2018 | 1 reply
I have been notified you and our Property Manager have been in constant communication, as it is our overall goal to help you get your property rented to a qualified tenant with minimal time gaps.
7 April 2018 | 0 replies
However, the loan amount that I will be taking out will be based off of the property price and rehab costs(90% of each will be a loan and 10% will be my skin in the game).
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9 April 2018 | 5 replies
Most people don't use banks because either the property doesn't qualify for it (i.e. really bad shape) or they themselves don't qualify for it (high DTI, lack of W2, bad credit, etc).
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7 April 2018 | 0 replies
Buyer will be less qualified for the same amount of loan; in plain English, buyers cannot afford the price of the property that he or she is looking at to buy at the higher rate….An educated buyer agent should search more (work harder) to find a similar property for his buyer, it is not a bad idea to search for motivated sellers or short sales.
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10 April 2018 | 15 replies
I honestly can't think of anyone less qualified... well, maybe Bank of America ... oh, lordy.
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8 April 2018 | 1 reply
At the time we had 16 rentals and about half of them were free and clear, and we were buying way less house than our salaries would have dictated for a "normal" (read BROKE) couple so we qualified with no problem.
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19 April 2018 | 5 replies
Just make sure that you are qualifying them.All of our advertising is free for the rent to own properties that we advertise.
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9 April 2018 | 8 replies
Depending on the amount of time you have to spend on managing the tenants and dealing with finding new qualified tenants you may want to at least compare the costs of hiring a Property Manager.