Larry Spradling
Tax question from a newbie
2018 was my first year of owning properties. I bought two turnkey properties and received a 1099 for the rental income they generated. I entered this info into Turbo Tax. I was expecting some tax benefits. Am I mi...
Spencer Hoogveld
12-Plex Purchase Formula
Hello BP Community: I have a question about a 12-plex apartment complex that I’m interested in - The sellers are an older couple who are looking to get out of the rental business after 40 years. In total there are 12 ...
Brian Choi
Getting a second loan
Hello BP investors, I’m in the process of purchasing a first rental property. It is a new house and will be built in 10 months. So my loan will start in 10 months. In the mean time, I’m trying to buy a house to househ...
Jehan Jaleel
Two quick newbie questions on the income 3x more than rent rule
Part of the tenant screening process is their income must be more than three times the rent. But is this their pre tax income or post tax? Also if a tenant does not have this, would you reject them right away or is th...
Jal Singh
Need Help Analyzing a 56 Unit Deal
Greetings BP!I am working on a multifamily deal, but the numbers don't make sense to me. I would really appreciate a second (or third or fourth!!) pair of eyes. Please see the link to the T12 below. The NOI I am ca...
Michael Hill
Introduction
Hello!New to the forum. I have been devouring the Bigger Pockets podcasts for about 3 months now. I am a very "newbie" when it comes to real estate investing. The prospects have me salivating and I cannot get enough o...
Shaheed Crier
How do you price an apartment building off rent.
I'm looking at a 9 unit building.
All one bedroom units
Monthly rent is $7450 annually $89,400
Building age 46 +/- 1
Cap rate 5.22%
Asking price $989,505
How do you use the rental price to get to a building value?
...
Kyle Seidel
How I thought DTI was calculated is wrong?
Income: -$3,000 ($2,400 after taxes) salary-$500 ($400ish after taxes) dividends/commissions-$1,575 in rental income for my owner-occupied duplexDebts:-$950 mortgage for my duplex-$50ish for min. c.c paymentHow I thou...
Jimmy Mozingo
How do I get estimated value of a portfolio of apartments ?
I have been presented with an opportunity to buy an in vestment portfolio contains 4 separate apartment complexes in Central California totaling an asking price of 7.19 million. This is a mom and pop portfolio and th...
Charlie B.
Three times rent...but with (1, 2, 3!) kids?
I've read that most landlords require a (gross?) income of three times the monthly rent. What if the applicant has children? Fair housing laws prohibits discriminating against parents, but common sense tells you tha...