Jerome Morelos
MTR Income Loan Qualification
Hello BP, what are the lender requirements for Mid-Term Rental income? I started my MTR in Sept 2023 and some lenders I've spoken to are saying different things such as 1 year tax returns, 2 years tax returns.. Can't ...
Brittnie Stewart
Can you wholesale a foreclosure property?
I did some cold calling to some vacant property owners. I talked to one guy who said his house was going into foreclosure but talking to a friend who has access to MLS and looking around on the internet, the property ...
Mary Jay
Is it a good idea to take advantage of a COVID 100K withdrawal?
Hey guys,So my 401K company says that due to corona virus I can take 100K withdrawal from my 401K and pay it off in 3 years. (If I dont pay it back then I will be taxed on it so its better to pay it back).1) Is that a...
Joshua R.
How much money do you need when trying to get FHA203 Pre-approved
I am in the process of purchasing my first investment property. I am setting up meetings with a few different FHA Consultants to discuss pre-approval for an FHA 203(k) streamline. The loan is for 200,000.00. How much ...
Michael Plaks
End-of-Year tax planning: Roth conversion 101
I just finished EOY tax planning sessions with my clients, and Roth conversion was one of the topics. It reminded me how confused most investors are about Roth and prompted me to write this long post. Since Roth-relat...
Ezra Shami
What to do about closing costs?
Hi everyone, this is just a general question that Id like input from people who have done this plenty of times. What should I do in regards to closing costs? I dont really understand them or how to pay them. When the ...
Endory Neves
BEST ROUTE FOR MORTGAGE FINANCING
I’m currently self-employed and been in business since 2017. As a first time home buyer I’m wondering which route I should go wether FHA, Conventional, private lending? I know that the rules are bit more strict when y...
Jean Francillon
Traditional IRA OR Roth IRA
I have a traditional IRA with Merrill for the last 5 years. And I just open a with IRA with TDAmeritrade. Should I transfer my account from Merrill to the New Roth IRA? Or should I keep both IRA's? Need help
Joe Lijoi
Tax treatment of LLC with no income but expenses
Hi all!
My current full rehab duplex project is owned by an LLC which owns nothing else or has not generated income yet. My question is can I use the expenses incurred on the project as deductions even though there ...
Joe Venturelli
Tax Depreciation on Building metric when evaluating a condo?
Do you use the same formula to determine Tax Depreciation on Building when evaluating a condo?Tool I am using is using a formula of -Building Cost / Amort PeriodThoughts? I have a deal that seems good but this calcu...