Hyun Don Yun
HELOC VS CASH FOR DOWNPAY
3 February 2020 | 3 replies
I intend to refinance with a traditional bank and pull 80% to apply back to the HELOC.
Yengkong Sayaovong
401k to purchase investment homes
6 February 2020 | 2 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
Michael Nevarez
IN NEED OF A LOAN TO PAY PERMIT CITATIONS AND PERMIT COSTS
6 February 2020 | 7 replies
The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.
Rob Borkowski
New Property Purchase - Inherited Problems
4 February 2020 | 1 reply
I closed and then applied for the driveway permit on the property.
Rob Stiefel
Cash out refi vs selling home - Philadelphia
6 February 2020 | 9 replies
Know that Fanniemae loans will not consider your existing property as a rental income on the come unless you jump though all kinds of hoopsCurrently, if you do sell your primary home, that's tax free money you can apply to the type of personal expenses that you can never write off.
Allen Lopez
Commercial or residential loan?
4 February 2020 | 3 replies
Mixed-use property financing applies to properties that are comprised of multiple units zoned for different uses, including residential, commercial, industrial and institutional.
John Mayer
How would you invest $200k in Denver?
12 February 2020 | 31 replies
Longmont, CO, 805011 Bed - 1 Bath $700.00/mo Sq Footage: 2,520 $700.00/dep Year built: 1965Contact Us: Apply Online: http: Tour, Pics, & Full Listing: Call/Text: deletedFree Planet Fitness Membership***Available Now****Private Room with shared bathroom for rent inside this beautiful home.
Bryan Johnson
Just completed first BRRRR
13 February 2020 | 57 replies
When you applied for a loan, did they look at your personal income?
Nathan Gesner
How dirty will you let your Tenant be?
7 February 2020 | 93 replies
I'd personally try to incentivize him to clean the property before applying pressure in terms of an eviction - carrot before the stick approach.
Colin West
Investing as a couple
4 February 2020 | 1 reply
We will be living together soon so not sure if we should wait and apply for an FHA together or what makes most sense.