Christopher Pride
Looking for a loan on a zoned commercial with 2 residences.
22 February 2024 | 2 replies
It'll be more expensive than normal loans because it is mixed use.
Allison Levine
What would be the pros and cons?
23 February 2024 | 3 replies
I wouldn't mess with a good loan on the one you have.If the existing loan is a high rate I'd think about refinancing.
Robert-Lee Pass
Offer sent last night .. But i noticed this stuff... Do I Kill the Deal?
23 February 2024 | 35 replies
Of being away from your wife and kids for a year, you are also "spending" an extra $19k to qualify for your loan.
Camron Corona
Using 401 k as a down payment
23 February 2024 | 6 replies
I have taken a "loan" against the 401k rather than withdrawing money.
Jacob Beg
MultFamily Rental investment gone wrong. Any advice?
23 February 2024 | 14 replies
The property was acquired through a hard money loan that is expiring soon and I still have not been able to rent a single unit.
Harit Pat
Canadian investing in Ohio
23 February 2024 | 4 replies
Some documents include loan application, credit auth, purchase agreement, recent bank statement, property insurance, title documents, entity documents and renovation budget. 2) What interest rates should I expect for Fix & Flip, renovation, and BRRRR properties?
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Flippidy DO DAH - Fix & Flipping Today & making a Mint
23 February 2024 | 1 reply
You get that back if you sell, but if you keep it as a rental it takes 153 months or 5 years to break even on your down payment alone.https://www.redfin.com/IN/Indianapolis/1515-E-Kessler-Blvd-Dr-46220/home/66981054ARV / Sell Price$235,000We Calculate All CostsPurchase Price$152,750 65%Closing Costs$2,000Rehab$30,0006 Months Carrying Costs$9,114Real Estate Selling Costs$14,1006%Other$0Other$0Total Rehab Costs$207,964Now We Calculate ProfitARV / Sell Price$235,000Total Rehab Costs$207,964Gross Profit$27,036IRS Tax$4,05515%Net Profit$22,981Per month profit$3,8306Loan Down Payment$30,55020%Loan Amount$122,200 80%Loan Cost per rmonthPrincipal & Interest$8137%Prop Taxes$321Insurance$168HOA Fees$0Monthly Payment Costs$1,302Monthly Payment 1$1,302Monthly Payment 2$1,302Monthly Payment 3$1,302Monthly Payment 4$1,302Monthly Payment 5$1,302Monthly Payment 6$1,302Utilities for 6 months$1,302Total for 6 Months$9,114
Chris Seveney
In Over Their Heads?
23 February 2024 | 24 replies
(IMO) Loans with non-fixed rates--those things should be outlawed.Just my 2 cents.
David Yamamoto
Divorce - refi primary options
23 February 2024 | 10 replies
So - my question - my current mortgage holder gave me two options to refi and remove my wife's name from the loan both keep the current 4.x% rate but one can be done within 45 days and the loan starts again at 30 years.The other option, an assumption process, takes 4-6 months, retains the 4.x% rate but keeps the life of the loan at the current 24 months.I'll be rolling a HELOC into the loan.My question is: the longer term of 30 years will lower the monthly outlay a little bit and speed the process of getting my wife's name off the loan.
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Seasoned Real Estate CPA Expert Answering all Questions on Investing Tax Strategy
23 February 2024 | 65 replies
Let's say on top of that I have loan interest of around 38,000.