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23 April 2024 | 14 replies
It's important to do your homework and think about your personal risk tolerance and long-term goals.Good luck!
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23 April 2024 | 2 replies
Thinking about setting up a property management company to use for my rentals to show the income as part of the management company rather than personal finances.
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23 April 2024 | 44 replies
Personally I find that a red flag unless they have a good reason.
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23 April 2024 | 6 replies
Accounting firms typically have nothing to do with this process unless somehow the title company subcontracted the preparation of the 8288 to them (which really isn’t necessary as it doesn’t require tax expertise, only familiarity with the FIRPTA procedures in general, which any title co who’s worked with a sale by a foreign person would likely know).This is indeed a weird situation and it definitely is unsupported by any authority in the code and regulations to send the withholding tax amount to an accounting firm acting as a middle man for the IRS unless they somehow expressly made an agreement to do so.Good luck with that
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23 April 2024 | 5 replies
House hacking will also give you some personal "property management" experience.
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23 April 2024 | 7 replies
House hacking will also give you some personal "property management" experience.
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23 April 2024 | 1 reply
I also received my broker's license tho (solely to become more knowledgeable while making personal real estate investments), but I don't see their logic, so I figured I'd turn to BiggerPockets to help me better understand what's going on.
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23 April 2024 | 9 replies
Qualifications typically center around whether the monthly rental income can at least break even (1.00 DSCR) with the monthly PITI.We would simply need to know the following information to determine eligibility, interest rate, and loan terms for DSCR financing:o Purchase or Refinanceo Property Addresso Monthly Rental incomeo Annual Taxeso Annual Insuranceo Estimated Credit ScoreThe documentation is relatively light as well, compared to a conventional loan underwritten to your personal income/taxes/debts.▪ Entity documents ▪ 2 months of bank statements ▪ Photo ID ▪ Lease agreement (refinance) ▪ Sales contract (purchase)
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23 April 2024 | 15 replies
House hacking will also give you some personal "property management" experience.
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23 April 2024 | 3 replies
We've also been exploring properties in person.