Jason Clinton
Rental income considered income after 2 years
What's up BP!...
I have a quick question regarding rental income being considered income. I know that banks will not consider rental income (or any income really) for the first two years.
My question is... Is thi...
Josh Salapare
Non Homeowner - Investing in Rental Property Out of State
I live in CA (SF Bay area), looking to move out of state possibly Nevada in two years once my son graduates High School.We sold our manufactured home a couple years ago and now are renting and saving for future home.T...
Oscar Martins
RIght Of First Refusal
I submitted an offer of 155k on a FHA property two years ago. During the inspection, they found an underground oil tank with contaminated soil on the premises. The seller (FHA) agreed to remove the listing and remove ...
Robert Reynolds
Own 2 Primary Homes, and Want to Sell Both
Let’s say you live in a house for two years, then rent it out for two years and live in another house for two years. Can you sell the first house and get the home owners exemption of $500k for the first house?Can you ...
Nick Neville
Conventional and FHA loans on a new commission job?
I recently switched from a salaried position to a 100% commission based job and am told that I must have two years of commission only income before being considered for a conventional or FHA mortgage. Is anyone famili...
Rob King
Question about a selling strategy to minimize taxes
Good evening, I have three properties in Honolulu, HI and am looking to sell two in the next 12 months. My understanding is that if you live in a property for two of the last five years you are protected against cap...
Ye'Chiya Harper
Options for Securing a Mortgage without W2s?
Greeting BP Fam,While saving for our dream home, my husband and I decided we'd house hack our first home. My husband's now "former" employer failed to provide his corrected W2s and his most recent pay stubs for the pa...
Michael H.
House hacking a SFH, can I get a another House after 2 years?
Hey BP family,Wife and I are renting our upstairs bedrooms. we claim the rents on our taxes, we have a real lease, BG & credit checks, ect on tenants. we've been doing this for about 15 months. Can we, After two y...
Kevin Carrington
Personal Residence Taxes
Hey BP, I was wondering if you live in a property for over two years and then move and rent it out for some time, do you still get the personal residence tax benefit? Or, do you have to live in it two years prior to s...
Greg P.
Pay myself Salary will help qualify for 30 year loans? Advice please
Hello, my question involves having my company paying me a salary. Would it be smart to do this since if I can show two years income, then I can qualify for 30 year loans on rental properties I am planning on owning. ...