Derek McGillicuddy
Tax returns question
I’m looking for some advice. How much does one property reduce your state/federal income taxes? How much does 2 properties reduce it? I know this is a largely variable question, just looking for advice/ guidance, if i...
Christine Myers
My friend says her rental house is hurting her taxes not helping
I’m worried about what my friend said. They have a rental house with good rental income, but she is looking to get rid of it because its not helping on taxes. Her and her husband make over 150K a year and she says aft...
Jonathan Napper
Would You FHA? $179K 15% Cap 1st Deal
I have no debt, decent income and would be first time home buyer. Would you FHA 5% down? Here are the details. Obviously I did NOT include the 5% down. Any advice would be great. AP - $179K ($179 @5% 30YR)GSI - $27,00...
Laleh Omaraie
DTI Calculation Confusion
I have income from a W2, 1099s/Schedule C, and rental income on my house hack. Something about this seems to make calculating my DTI wacky; I know lenders aren’t just adding up my gross income from all these sources a...
Tenzin Yangzom
How to use existing home as income to get new mortgage.
Hello everyone, my name is Tenzin I have a high ranch house in Suffolk co NY without any mortgage.. I am a stay home mother and my husband has started a new company beginning of this year, he is very busy and doing gr...
Glen Fagin
Here's a question for y'all
If you were at a dinner party and a guest at the dinner party asked you this question, what percentage would you give them?"...what would you say on average is your total rental property expenses compared to the gross...
Andrew Taylor
Walk me through income & tax implications
My wife and I are closing in on our first multifamily property, and I'm really enjoying daydreaming about all the positive cash flow and how I'm going to enjoy it. (Don't anybody burst my bubble.)I'm curious about a c...
Virgilio Mateo
Need help with a potential acquisition of 32-unit property
Hi BP Community, I am in need of some input from a potential deal I came across cold calling owners through craigslist. Property Location: Moss Point, MIssissippi32 unit complex4 buildings sits on 2 acres and all unit...
Haley Varner
Financing options for 14-unit in Marietta, GA
Hi - I'm looking to make an offer on a 14-unit in downtown Marietta, GA. Proforma is as follows. At $575k, returns using the below are 17% Levered IRR (assume 80% LTV, 4.5% 360), 12% cash on cash, 1.33% rent to pric...
Account Closed
Georgia property
Hello,
100 units
asking price 2.4mln
2/1 72 units rent 475 sf 900
3/1 28 units rent 550 sf 1000
NOI 318500
February income 41024
February expenses 14223
Stated occupancy 92%
How you see this deal?
Thank you