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8 July 2024 | 4 replies
For reference, I am self-employed (I run my own online clothing business, i am 1099-k) and I've always been told that it'll be hard for me to get a conventional mortgage when you're self employed, so I am specifically asking about other types of loan options.
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12 July 2024 | 17 replies
Source: WikipediaIncome persistence: You need a rental income that will last throughout your lifetime, which requires your tenants to remain employed at similar wages.
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9 July 2024 | 20 replies
In contrast, any investment that requires management effort should yield much higher returns.
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8 July 2024 | 11 replies
The employment GAP isn't always an issue as long as you're now a W2 employee, can show 30 days of pay stubs (not self employed), and you can provide a letter of explanation stating the cause of the employment gap.For a VA loan, in order to use the rental income from the other units you'll need:1.
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12 July 2024 | 281 replies
Did you perform an actual employment verification?
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10 July 2024 | 24 replies
Stronger economies generally support higher rental demand and property appreciation.Neighborhood Analysis:Safety and Crime Rates: Avoid neighborhoods with high crime rates, as these can affect property values and rental income.Property Demand: Look for areas with growing populations or proximity to employment centers to ensure consistent rental demand.Property Condition: For fix and flips or BRRR, assess the condition of properties carefully.
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8 July 2024 | 15 replies
In contrast, maybe a great piece from @Bob Beach on how to avoid customer churn. https://www.biggerpockets.com/forums/899/topics/1175358-prop...Customer acquisition is only 1/2 the battle.
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7 July 2024 | 4 replies
Based on your experience as a lender, what is my likelihood of having a "letter of intent to employ" accepted by an institution?
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12 July 2024 | 79 replies
We live in a bit of an expensive market with great growth, Navy, Shipyard, Medical, and easy commuting to a major city with a dozen or more major employers.
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6 July 2024 | 16 replies
Next, figure out how much the entire rehab will cost and contrast it with the possible rental income.