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DEBUNKED: "Managing your property manager" does NOT count towards REPS hours
Hey gang, One thing ive heard alot from folks lately about is how they are having their spouse qualify as real estate professional status, and getting the hours for it via having them "manage the property manager" and...
Joshua Thang
Appraisal Report Bedroom Count is Different from Actual Number of Rooms
Hi,So I have a situation where Cuyahoga County records states my house has 2 beds but my house has 3 beds. The appraiser came in and appraised it as a 2 bedroom and called the 3rd bedroom as a "Den". Is this something...
Jason Wang
Does FHA loan count aginst the 4 loans limit that banks enforce?
Does FHA loan get counted in the four loan limit that many banks has? Or does the four loan only count conventional loan and not FHA?Thanks!
Michael Rock
How to get appraiser to allow basement bedroom to count toward sq
Hey guys so I have a single family home right now that I’m slowly fixing up as I love in it with the goal in mind to pull the equity out to purchase a multi unit building. My question is how to get an appraiser to use...
Corey Dutton
Be Sure to Count ALL Costs on a Real Estate Rehab Project
For real estate investors who are building up to do their first rehab projects, don’t forget to add up all of the costs before you calculate your profits. Too often, the classes that teach you how to make money “flipp...
Jeff Brower
Lender wont count rental income in DTI if taxes are self filed?!
Has anyone heard of a newly released IRS rule that requires you to file with a professional if you want to use rental income in your DTI for new loan qualification purposes? I just went to get preapproved and my lende...
Michael Montgomery
Will an SBA loan count as debt for a residential home purchase?
Hello. I'm in the process of getting an SBA loan for my business which is self proprietor, self employed. My question is if this will be counted as a monthly debt for my dti ratio for a home purchase down the road. My...
Corey Dutton
Be Sure to Count ALL Costs on a Real Estate Rehab Project
For real estate investors who are building up to do their first rehab projects, don’t forget to add up all of the costs before you calculate your profits. Too often, the classes that teach you how to make money “flipp...
Sundar Krish
GOLD assets - can it be counted towards reserve requirement for a mortgage
Hi, I am trying to buy my 5th home (existing 1 - primary, 3 other investment). I am aware that Fannie Mae has reserve requirements for home 5- 10 and in my case I have to show six months of reserve for all 2nd -5th h...
Navin Francis
Do all lenders count a basement living space as a 5th unit?
I am looking at a 4 + 1 unit in the basement property in Steger, IL. Trying to get lender to approve this as a 4 unit to take advantage of the conventional residential loan, however the lender counts the basement as a...