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21 March 2024 | 16 replies
One property is a condo (in CA) that I rent out, and the other property is a house (in NV) that I live in and rent out the other rooms.I quit my W2 job last year to start a business, which is slightly profitable today, but I reinvest everything back into the business.I have a bunch of cash saved up and am comfortable deploying $100K into another property in Las Vegas ($80K down payment + $10K furnishing + $10K margin).The only problem is that I’m not sure how to finance my next house without W2 income.I talked to a few lenders about DSCR loans, and most say they calculate rental income based on the entire house, instead of by the room.I would love to get the creative knowledge of the BP community on how to fund my next home 🙏🏼I'm also open to any lender referrals 😊Kayla,You could utilize a DSCR loan with a lender that utilizes market rents or potential Short Term income as a possibility.
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22 March 2024 | 19 replies
Determine how comfortable you are with potentially locking up assets for a long time and how much risk you can tolerate.Market Conditions: The situation of the real estate market might change, and this could have an impact on your choice.
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20 March 2024 | 4 replies
My lawyer says that HOA's are the most powerful thing in the US and the most corrupt and he is on his Board in S.
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21 March 2024 | 7 replies
While considering raising the rent to reflect the market rate and adding an additional $100 for utilities, I find it challenging as we have built a positive relationship with the current tenants.As for our Studio (STR), I would appreciate any suggestions on ways to optimize the income potential of this space.
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20 March 2024 | 0 replies
I talked to my lawyer and he didn't have any other ideas.
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20 March 2024 | 11 replies
At the auction I asked foreclosing lawyer if there any big issues I should be concerned with, he replied that he can't comment on that (((.
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18 March 2024 | 2 replies
Hi- I am having some tenant difficulties with a property in Seattle and am looking for a lawyer that can give me some advice.
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18 March 2024 | 0 replies
Hello,Please i need a real estate lawyer that can review construction contract, currently need someone to review a contract i have with a contractor to work on a project for me.
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21 March 2024 | 12 replies
A lawyer will likely want you to split them up to protect assets, but more so to make some money making entities.
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21 March 2024 | 6 replies
If you do this you can potentially include a higher security deposit but you want t make sure to follow state laws about that.I understand that people may be improving their credit due to life circumstances.