Cliff T.
Help with my K1 as a realtor (S-Corp) and applying for a loan
9 June 2021 | 4 replies
As it stands, my K1 states a high amount of business ordinary income (Box 1) along with a minimal distribution amount (Box 12).However, a loan officer recently pointed out that he can't use any of the business ordinary income for my DTI and can only use the Distribution amount.
Wesley Vanderkallen
Not living in an FHA loaned home
9 June 2021 | 2 replies
Preparing to buy my second home with a partner, we were told by our loan officer we could use and fha loan if we are considering moving into the home, but after reading up on it have found that may be considered mortgage fraud?
Mitchell Sawin
Looking at purchasing USPS tenant occupied building
16 June 2021 | 5 replies
This is in a small town and the only post office.
Adam Aust
What counts as rental income for tax purposes
13 June 2021 | 5 replies
I.E. a $1,200 loss was like having another $100 a month loan.Some of the things I wrote off werePower tools needed for the business, lawyer and accountant bills, mileage, office supplies, new printer, storage area .....If you want to grow bigger than 1 rental, make sure to understand what a gain/loss will do to your buying power.
Caira Ward
Mobile Notary WA state
9 June 2021 | 4 replies
Contact escrow officers by phone and see what the vetting process is to get on their list.
Matthew Raider
Newbie from Westchester NY!
8 July 2021 | 4 replies
I currently work in an admin position in a real estate office, but am in the process of becoming an agent myself, and would love to combine that with some rental properties of my own in the future.
Andrew Casal
Reno/Landlording Question for Rhode Island
3 July 2021 | 5 replies
There are a few additional things for each of the rooms so I'm not sure if the "repair" angle would work but these projects are a little while out too so no rush to start calling the permit office either.
Vadim Babets
City Stopped my construction
15 March 2022 | 2 replies
That was 3 months ago… Since than I’ve bin calling, emailing, leaving voice mail, his assistant told me he is in office I’ll ask him to call you back many times but he never does, what can I do now?
Joe S.
Refinance question without a 12 month lease in place
5 July 2021 | 4 replies
I talked to one loan officer and he said that I would basically have to start off with a standard renter and then once the refinance was a place I can do what I want to with the property.
Bill Ward
What to do with $$ if I cash out
27 July 2021 | 9 replies
The ability to draw from you pension at age 50 makes me question if you have a career which would allow you to draw early from your retirement accounts as well (such as a police officer, firefighter, etc.).