Ryan Anthony
Accidental Carpet Demo and Contractor Payment
Hello BP Community! I had a group of contractors replace my carpet with flooring. They were supposed to leave one room carpet but inadvertently demo'd. The contractor and i agreed to free labor, to split the materials...
Jeremy Shupp
Error at Settlement
I received a spreadsheet from my realtor that showed what we would be getting back at settlement for specific selling prices. I did not receive any other documents showing what I would receive after closing. At the cl...
Bryan Davis
How much profit do you target in a rehab?
I’ve been out of real estate for nearly a decade and I’m working toward getting a rehab project together. I came up under Ron LeGrand back in 2006-2008 and the target profit on a rehab that I remember learning was 20%...
William Luke Laity
70% rule for flipping?
I know it can vary depending on which market you are in, but is 70% off the ARV still a good rule to have for estimating closing costs and commissions, or has it changed some? If you have something different, what do ...
Nat Seangsumat
Sin City Real Estate
Hey its kenni , I was looking around my neiborhood and found a house being foreclosed. The house was in alright condition and could easy be renovated by me and my team. I looked up the address on line and found the ho...
Luc NA
Using current rental income to qualify for a new property
Hi, I see a lot of information about using future rental income to qualify for a 2-4 unit property. However I cant find anything online about correctly factoring in current income properties into a future property pur...
Mike Arias
Depreciation effect on your debt coverage ratio and income
Is it common practice to add depreciation taken on multi family properties as an operating expense? I spoke to a bank recently and this topic was brought up.Example:Asset depreciated amount 400k25 yr depreciation sch...
Michael O.
Closing Issues on First Duplex
Hi All,I'm currently under contract on my first Duplex using a 203k to handle some renovations / improvements and have a few questions re: closing costs that I was hoping the community could help answer: PP: $62kReno...
Christian Wathne
Working on 4th property; issues now with DTI, how to get funding?
Hi Everyone, Looking for your great advice and experience I'm working on acquiring a 4th rental and am concerned that a bank won't finance me because I'm already approaching the 45% DTI limit. I'm calculating this by ...
Stephen Nava
Calculating DTI using tax returns
How do lenders calculate debt to income ratio using the schedule e on tax returns?