Gabe N.
Tenant Screening question
I have a prospective tenant that filled out an application.However I need some advice on qualifying this individual.The current rent is 3600The applicant is a family The Spouse doesnt work The main applicant gross W2 ...
Account Closed
Debt to Income Ratio Questions, Max Ratios.
Ok, so I have 4 properties to my name. I think I am figuring my DTI correctly, but am not 100% confident. My wife and I just moved to a new area and are planning to purchase a new house in the area, have one already u...
Account Closed
Does reducing my taxable income reduce my buying power?
If I use all my tax write offs and reduce my taxable income to 0 will that reduce my buying power in the future? In other words...will banks still count the income from my rental property when trying to qualify for a ...
Dyami Pike
Debt to income for mortgage
So I am looking into moving out of state. I own a home in Missouri and I'm planning on moving to Houston area. I've owned this house long enough that I can get another conventional or FHA low down payment, but I don't...
Xin-Ran Jiang
Questions about FHA pre-qualifying for multi-family
Background: I been working on Airbnb arbitrage for 4 years now. I rent properties and rent them out, under agreement with owner.Went through pandemic, I feel my strategy is mature enough for me to move on to next stag...
Jeffrey Zhang
commercial loan or rehab loan needed to fund 5 units
The gross rent income is 80k and purchase price will be 1.2m. would like to pay less than 30% down. Could it be possible?
James Galla
Assignment/Transfer of Income Stream
So what are yall's thoughts on this scenario:Imagine my wife and I own one rental property, jointly, in our individual capacities. If I gift her my 1/2 interest, terminating my right to that property, does that gross ...
Rachel H.
Debt limit on Screening Criteria?
Hi Seattle landlords. Does anyone list particular debt limits (like, "no debt in excess of $1000 that isn't in a payment plan") as part of their screening criteria? I'm wondering what is both legal and advisable in th...
Tom Wheelwright
Are You Active in Your Rental Real Estate?
Even if you have strong positive cash flow from your rental real estate, chances are you still have a loss for tax purposes due to the depreciation deduction.
This is a great tax strategy because your positive cash...
Fisayo Ijamakinwa
Property Management Fees
Hello All - I have a question regarding property management.We just recently purchased a triplex and the agreement reads that the PM fee is "(b) A fee equal to TEN percent ( 10 %) of gross rental income received on a...