Hyeseong Park
No prepayment penalty vs 3 yrs vs 5 yrs for current market
What is the best option for prepayment penalty you think these days if I want to go with DSCR loans?I assume that there is a big chance that the rate can drop a bit more due to elections at the end of next year so gov...
Jason Chase
Need CPA to Certify My P/L for Real Estate Purchase
I'm trying to finalize a purchase but underwriting is not accepting my profit/loss statement and says it has to be certified by a licenced CPA. I need a CPA who can get me a quick turnaround. This would be for 2020 a...
Luiny Tavares
1099 earnings VS. W2 earnings
Hello, Bigger Pockets Family,I am a new investor, and I'm trying to get pre-qualified for a mortgage, preferably FHA cause those have the lowest down payments, and also tend to have a lower interest rate, and cash on ...
Chico Ford
Accounting System and Processes for Managing Multiple Parks and LLCs
We have 8 mobile home parks we are managing that are all in separate LLCs. What accounting system are you using to manage the parks? I'm interested in a complete management system that provides a balance sheet, prof...
Ryan Lee
Investment property 60 day seasoning downpayment
For conventional loans via Fannie, I know that there is a 60 day seasoning for downpayment funds for conventional loan.
If you're receiving income from your W-2 employer, do these paycheck funds need to meet the 60 ...
Kevin Wang
How to verify income for self-employed? First time landlord needs help!
Hello, I am a newbie landlord and is wondering how to verify income for self-employed people? Tax return? Please advise!
Derek McGillicuddy
Renting to retired people
Just put a property up for rent. This is my first time renting and have a few retirees interested. How do you verify income? Its assumed they would get social security. Does the application process on a site like Zill...
Janet McElroy
Auditing Property Management Company
I'm going through the divorce from hell and the judge ordered us to get a property management company. My ex found this person and I was okay with her at first, but now my ex has turned her totally against me. We ar...
Account Closed
Property Manager
Hi All,I purchased a buy and hold property and effective June 1 have a tenant in place. I also enlisted the services of a PM. Monthly, statements are due no later than the 15th as advised in the agreement. Friday the ...
Riaz Mohamed
Proof of fund for cash purchase
Hello, I am selling my home in Minnesota. I have an interested buyer with cash offer. Before I accept the offer, I like to see proof of funds. What format of proof of fund is safer and recommended?Thank you in advance...