Craig S.
Is Net Income or Gross Income Used For A Mortgage?
Hello,
I am looking to get financing on my first deal. I am looking at purchasing a multi-family apartment (max of 4 unit) through the FHA program.
I am 22 and self-employed. My gross income is a lot higher than my ...
Richard F.
70% ARV Assumption --> Not with Transfer/Recordation Tax (MD)!?
Hello All,My computer processor has been completely exhausted trying to help me determine whether my conclusion is valid in regards to investing in Maryland (Montgomery, Prince George's, Anne Arundel, Baltimore Counti...
Caleb Clay
Tenants that don't check the minimum credit score box.
I have some younger tenants that are applying to rent a 2/1 from me. They said they have unpaid medical bills and that wrecked their credit. I was thinking of keeping 2x monthly rent for a security deposit to offset t...
Nathan S.
Home Office Deduction - Mileage
Hi BP world, I am currently not taking a home office deduction since the entire space I use in my primary residence for my rental business is also used for personal activities (computer, file cabinet, office desk). A...
Bernie Huckestein
BRRRR Re-fi in Maine
I've found a local bank who will re-fi a property after 6 months seasoning. Its a portfolio lender offering 30 year amort with fixed rate or 6.25 (first one I have found offering a 30 year fixed). The rate is a bit ...
Mike Parker
Landlord insurance with rent protection
As it relates to landlord insurance, I've heard there are policies that can include "rent protection" to cover the property owner. Not only covering the rental income in cases where the dwelling is uninhabitable but ...
John M.
Owner who doesn't want to move for 2 months
I received a wholesale lead today that looks good. The price the owner is requesting meets my criteria for a wholesale deal, but the problem is he wants to move mid-january after the holidays are over with.What do you...
Arnaud D.
Feedback on an international deal
Hello Everyone,I have a proposal from a very good friend in Europe for a real estate deal. I'd love to hear your thoughts and feedback. There is a lot of 2 apartments available for purchase. Appraisal: One at 320k and...
Dan Marro
Financing First Small Multi Deal
All, I asked a banker the other day what terms I could get on a hypothetical 8 unit deal, ~500,000 purchase price w/ 25% down. He said I would be in the 5.25%, 5 year term range and the loan would be conforming. This ...
Jef A.
Hard Money and Credit
I understand a hard money lender may want to review my credit history and score before lending money. However will the loan be associated with my personal credit profile or will the loan be strictly based on the house...