Michael W.
How to get financing w/ less than 1 yr of employment
Hello!I'm looking to buy a 3-4 unit property in Philly, but having difficulty getting traditional financing due to me starting my own business last year. All lenders are saying I need 2 years of consistent income. I k...
Mary Jay
Couple with delinquencies or a guy with out of country employment
Hi guys,
I need your advice please. I am trying to rent out one of my rentals and it is $500 per month , 1b/1bath house.
I have a couple of tenants who I run a credit report on and here is what Ive found:
1) A Mil...
David Zafrani
Is it possible to use employment rsus/options to fund rei...
..without paying capital gains via something similar to a 1031 exchange?I think I could do this for an opportunity zone, but for this case the property I want to purchase is not located in one.
James Eilerts
Best way to deduct vehicle for self employment, need advice. Pls
Hello,Here is my dilemma. In 2015 I became self employed (Not real estate....yet). I purchased a vehicle specifically for my business, financed it, then after a month or two I paid the loan off completely. So for 2015...
Chris McDaniel
How to verify income and job history for self employed tenant?
Ok, so I have this potential tenant who seems at first glance to have strong financials but he is self employed. He didn’t seem to have anything to hide, but when I asked for proof of income, he showed me a bank state...
Mac McAtee
Self Employment Tax On Rental Property Income-HELP 1 Day Left
I have a two member LLC that owns a small apartment building. We file Forms1065 and 8825. Don't file Sch. E, it isn't necessary when you file 8825.
The income from rent shows up on Line 17, Form 1040.
Since the i...
Emerald Sie-Duke
An Employer that does not provide pay stubs (but writes checks)!
Hi,I am currently screening tenants (mother & daughter) for a 4bdr/3.5bath home. One of the prospects explained to me that she does not receive pay stubs and is paid by a hand written check and cashes it. When I ...
Christine Gardner
How long should a prospective tenant be working for current employer?
Hello,
I am in the process of declining a prospective tenant for a few reasons. Mainly, their income does not seem sufficient and they have only been with their employer for 4 months.
This brings me to the question...
Margaret Feit
Is Mortgage Interest Income in Partnership Subject to Self-Employment Tax?
I have a Partnership that is primarily in the business of buy and hold rentals and also has some funds invested in multifamily syndications. Last year I sold a property and used the funds to purchase a set of 3 land l...
Matt M Antonio
1-year self-employed trying to find a second house hack
Any savvy RE-friendly Lenders in my area (Eastern Washington)? Need to pick your brain. I have just passed my first year as a self-employed and looking to get my second property. However, I cannot go with the traditio...