Daniel Rutledge
Question about DTI and counting rental income
I am planning a few refinances and want my ducks in a row. I have two questions on how conventional banks calculate DTI. First question is will they count W2 income from gross or adjusted gross from tax documents? For...
Jimmy Lieu
Help getting a pre-approval with a 1099 job?
Hello BP community,I recently just road-tripped from Portland, Oregon to Columbus, Ohio to start building my real estate portfolio here. However, I've just come across a huge hurdle. I received my job letter and it's ...
Joshua Davidson
Payroll question in regard to Disregarded Entity owned by S-Corp Holdco
I am looking to setup payroll for myself out of my company, call it LLC #1, and LLC #1 is owned by Parent LLC which I am looking into doing an S-Corp Election for. What I am unsure about is if the whole 60-40 rule aro...
Angelica Morales
CARES Package allows IRA withdrawals w/o 10% penalty, worth it?
With the passage of the CARES package allowing IRA withdrawals without the 10% penalty and being able to report the distribution evenly over 3 years, I have been considering taking $20k out of my IRA to pay off a loan...
Hariharan Elavarasan
Paying Off 1 by 1 vs Waiting and Leveraging
I bought my first rental property earlier this year. Cash flow after I move out (house hacking) and renovating should be 200-300. 30 yr fixed mortgage @ 6.625% with about 76,000 left. Over time, I'll end up paying 96k...
Chris LumLee
When Would You Take Income?
For the rental owners: You have a rental property or properties that are positively cashflowing. At what point would you start pocketing excess rental income? I'm keeping the question vague...I know.
Shelly Byce
How to structure the financials when friend is the bank and you are the contractor
Hi!
My husband and I have begun the process of getting into house flipping. We are brand new to this; however, my husband has been in residential construction his whole life, including many years in project managemen...
Paul Garcia
Need advice to move forward in difficult financing environment!
Hello everyone.I read countless of posts and articles online about investing in real estate, but I can't find anything that is related to my current situation. I'm hoping that the wisdom of this community can give me ...
Tiffany C.
Looking for *California* Wrap-Mortgage Contacts
We have been looking into selling a couple California (Bay Area) properties using seller financing and a Wrap Mortgage. Of course we've gotten many reports and opinions from many different people that questions the l...
Anton Jaramillo
Brand new looking for some direction.
Hello everyone!My name is Anton and I am completely new to the real estate world. I am 28 looking for a way to transition out of my 9-5 to support my future with my girlfriend and our family down the line in the futur...