Carlos Santiago
Question on expense accounting
I'm working a rehab. I have a rehab loan -- so the mortgage is for the house + approx. $24K in rehab money.
For my accounting - how do I account for repairs being paid for? I'm writing the check and getting the r...
Charles Clark
FIrst Commercial Deal - 8 unit
Investment Info:
Large multi-family (5+ units) buy & hold investment in Milwaukee.
Purchase price: $245,000
Cash invested: $35,000
Offer price = $245k
Seller paid $5k in closing costs
Purchase pr...
Jean-Thierry Aleman
Mortgage interest deduction when paying cash for initial purchase
I am about to acquire a property using cash so we can do a fast close. I am then going to finance it with standard mortgage. I thought I could deduct the mortgage interest from the loan but read somewhere I can't do...
Roger Mace
Should you refinance a DSCR?
Refinancing loans with a focus on Debt Service Coverage Ratio (DSCR) can be a strategic decision for businesses. Here are some situations when refinancing might be considered:
1. Improved DSCR: If a company’s DSCR ha...
Logan Dawe
Getting a loan for first house
Will banks consider your intent to house hack and factor that into your eligibility for a loan? I want to buy my first house by the end of 2022 and I’m wondering if telling them about my intention to house hack it wil...
Indra H.
Under market value purchase
Hello folks,So this will be my first time using non conventional loan. I have a house under contract, house is valued at 150k but i was able to get it under contract at 109k. Now, my initial thought was to do 20% down...
Account Closed
WHAT! I DONT WANT TO DO ANYTHING ILLEGAL...
okay here's the story. I have everything in line finance rehab, people in the construction, I have somebody to project manga the rehab, I have somebody in wholesaling and I had a pretty good hard money guy lined up to...
Lance Lvovsky
Tax Reform: IRS clarifies interest on HELOC often deductible
There seems to be confusion regarding how the new Tax Laws affect the interest deductibility of home equity loans and HELOCs. A lot of folks think the new laws do not allow deductibility of interest on their HELOC. Wh...
Tracy Mayfield
Is a Cash Out Possible?
I own a rental property here in California with a good amount of equity. I wanted to do a Cash out to pay down some debt and use some to look at options for buying another property. I have good W-2 income around $190k...
Yaya Y.
Value Add Property - Appraisal?
If I want to purchase a value add 4 unit MF, and want to get an acquisition/construction loan how will the bank appraise the property? Will the bank look at the pro forma rent roll and size the loan from that or the t...