Lucas Rodrigues ferro
Advice on Approaching Local Investor for Profit and Loss Partnership
Hello community,
I am reaching out to seek some valuable advice from experienced investors on approaching a local partner for a unique situation I find myself in.
I currently own a fourplex unit in Baton Rouge, but ...
Jay Boyle
Are security deposits income on the profit and loss sheet?
Hi I am new to apartments. I presently have a 90 unit under LOI. The financial data I received from the seller shows the incoming security deposits as income and the outgoing security refunds as expenses. is this typi...
Adam Whalen
Does any know of a profit/loss real estate app?
Does anyone know of an app that will allow you to plug in and calculate all expenses and revenue on a property?
Andy Mai
Qualifying for Conv Loan After 1st/2nd Deal
I have two rental properties under my personal name and the mortgage payments has my DTI at max percentage. My question is in order to use my rental income to offset some of the monthly mortgage payment debt and impro...
Sachin S.
Can STR purchased under LLC ownership offset W2 of LLC members?
Hi,Can STR purchased under LLC ownership offset active W2 income of the members of the said LLC?I plan to do cost seg study and get bonus depreciation (and will actively participate as per IRS rules) but need to confi...
Kent Lutz
Structuring a deal
My buddy and I are partnering on a single family property. I am providing the down payment ($10k) and he is using his credit. He will be living in the home for the first 2 years, so he will be paying the mortgage for ...
Josh Rodriguez
Do lenders consider rental property income when applying for loan
Hello BP, do lenders look at and/or consider rental property income when applying for a loan? In other words, let's say I make 60K from my W-2 job and 5K from rental income annually. Do lenders even consider the 5K as...
Phillip Rosin
Lending options for my situation please. 2022 tax extension + house needs renovation.
I have a house under contract. 245K purchase with ARV 425K. Rehab will be around 50K. It flooded and is currently in the post flood state. A portion of drywall, flooring and cabinets have been removed but there is no ...
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...
Mandeep Randhawa
Looking to purchase a home and 2013 taxes not filed...
will they want my 2013 taxes to be filed before I purchase which will be in late March early April? The reason I ask this is that I opened a dental office(S corp) in 2013 and it will show losses, but I would like ...