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If so, what type of business do you run and what bank did you do it through? I've spent hours reading about this, and thought it might be easier if someone just shared their success stories on getting approved.
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I am trying to figure out how to structure a mortgage and with whom if I sell a multifam building and acquire several units with equal or more value and debt. Are there particular lenders that are more advantageous th...
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Hello, my partner and I are about to register an LLC structured REI group. We are not clear about how to explain to our potential members how the qualification process works in relation to the qualifying process.
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Hi everyone, I've been devouring some recommended books over vacation and one book made a point that actually blew my mind. It stated if you buy a $50,000 home with traditional W-2 income, I truly"paid" $75,000 pre-t...
Hello all, new member to BiggerPockets and newer member of the real estate game. I recently bought a home in a fairly popular area of the city. The house is zoned as single family so to my understanding I can't legall...
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Hi, BP
I am interested in a newly built 4-plex (2013) in Texas. Here are the numbers:
Purchase price: $447K
Downpayment: 25% (111.25K)
Monthly mortgage payments (4.75% mortgage): $1749/month
Tax...
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If I live in my second home for more than 14 days out of the year (second home), what does this mean for all other income I received for STR for the year? How is this income taxed? Thank you
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Hi BPers, So this is one of the many possible REI I'm pouring over before finding my 1st deal and taking the plunge. I'm having a little trouble coming up with an offer Price. I'd like to get some feedback on my numb...
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It’s 2021! I set goals for myself to purchase 2 properties in 2019, done. I set goals for myself to purchase 3 properties in 2020, done. I have goals to purchase 3 more properties this year. I’ve faced some challenges...
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Let's say I was an LP on an apartment complex that sold this year and while answering TurboTax's questionnaire, it asks for two very fundamental bits of information - the Adjusted Basis and Final Sale Price. As basi...