Thomas Waymouth
Navigating DTI & Turning our Current House into an STR
6 March 2024 | 8 replies
I made 120k in equity last year with the sale of the houses but because of how stupidly our business was set up, Our tax guy suggested my partners give me most of my equity as a gift because we didn't want to get taxed on it twice.
Logan M.
Pitfalls of CAP Rate and Mobile Home Parks
6 March 2024 | 9 replies
You can try to use their taxes for verification but it is still difficult, CAP rates will not reflect tenants that need to be evicted.Hopefully, this has been helpful in providing some additional aspects that are unique to CAP Rates and Mobile Home Parks.
Marcus Gendke
Economic Headwinds Abound
6 March 2024 | 0 replies
Once again, we find another recession indicator flashing red.Given the multitude of economic crosscurrents, it’s crucial to seek the best assistance available to mitigate taxes, and manage expenses to navigate through potentially turbulent times.
Eric Hipolito
DSCR Loans / Lender Recommendations
6 March 2024 | 13 replies
No personal income docs or taxes needed.
Alexander Szikla
Broader Rental Markets Cool Off NYC’s Rental Housing Crunch Hits 50-Year Low
6 March 2024 | 2 replies
A staggering 86% of households earning under $25K spend over half their income on rent, highlighting the acute affordability crisis.Urgent calls for policy intervention, including incentives for housing production like the potential reintroduction of the 421-a tax abatement, are echoing through the city as leaders grapple with the severity of the housing shortage.
Ademola Dawodu
Evicting a tenant from a multifamily unit that I intend to occupy
4 March 2024 | 5 replies
Therefore, it is essential to ensure that your eviction grounds are legal and legitimate.It is highly recommended to consult with a licensed attorney who specializes in landlord-tenant law in Los Angeles to ensure that you follow the legal requirements for evicting a tenant when purchasing a 2-4 unit multifamily property.
Benjamin Foullon
Should I Purchase Through An LLC
6 March 2024 | 7 replies
If you are looking to use your W-2 and tax returns to qualify, you would be using a conventional loan, which typically don't allow LLC vesting (unless you transfer the deed later).
Joey Keske
MultiFamily in St. Pete
4 March 2024 | 11 replies
To find competitive pricing, look into the rental prices of nearby multifamily properties that are comparable to yours.Take into account all of the running costs, such as insurance, maintenance, taxes on the property, utilities (if not individually metered), and, if necessary, property management fees.Take into account the principle and interest payments associated with your mortgage.
Les Z.
looking to buy rental property in any state - 100k down, traditional financing
5 March 2024 | 28 replies
Pittsburgh is very affordable and the taxes are low outside of Allegheny County.
David Alder
1031 Exchange with Seller Financing as Boot
5 March 2024 | 3 replies
My understanding is that the $480K qualifies for 1031 treatment and tax deferral.