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21 March 2024 | 6 replies
that makes a difference as few do non owner occupied.
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22 March 2024 | 1 reply
Is it better to renovate the basement of your house and turn it into a legal basement apartment or join a JV and use the money to make a down payment on another property to rent out?
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21 March 2024 | 3 replies
We met all non-passive requirements and can provide proof to show that our projected annual materially-active involvement is at least 500 for 2023.We met with our CPA and he brought to our attention that we had a loss of -$107k.
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22 March 2024 | 7 replies
The issue is, I fell for his traps and gave him 75% of the payment (around 35k) because he kept saying he needed it to get done soon and I did not want to extend my lease too much because it was very expensive to do so.
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20 March 2024 | 3 replies
Then last option would be a "unsecured" personal loan where the bank offers up to $50K for example to pay off and consolidate debts.The 2nd and the personal loan will pay off debts and lower DTI and you might have enough left over for down payment or just use VA again.
22 March 2024 | 0 replies
I figure the interest only payments for land loan would be roughly $2,100/mo. (800K @ 8% for 3mo).
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22 March 2024 | 8 replies
I'm looking into a few different options now: HELOC on other investment properties (though I'm finding rates are 11%-13%), a business loan on another business I own, and negotiating with vendors to take deferred payments.
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21 March 2024 | 7 replies
For commercial, you can also negotiate the amortization schedule (the longer the better), interest rate, pre payment penalty etc.
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21 March 2024 | 0 replies
Furthermore, you can deduct the interest payments against your rental income.
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20 March 2024 | 2 replies
All of my LLCs have their own bank accounts, books, expenses, etc.But what else do i need to separate? Is it ok if i keep one email address to communicate with all tenants, etc? Or do i need a second email address for...