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...
Udy Ekanem
Denied for a Mortgage
Hello BP, Just came across the site a few days ago and I'm grateful I did because I've learned a lot already. Tried to pre-qualify for a mortgage today and was denied. I have a lot of student loan which is my issue...
Michael Bacile
Looking at mortgage payments in analysis
I’ve got a question about property analysis. When I’m trying to find potential rentals would it be fairly accurate to use the givin mortgage quote on realtor websites? I’ve been using the “mortgage payment calculator”...
Nolan M.
Best way to cash out Refi a BRRRR
Here's my situation. I'm planning on trying out the BRRRR method to acquire my next rental. I'll be buying the house in my name (no LLC) and I'll be using a HELOC from my primary residence. Am I correct in assuming my...
Chris Brenner
Creative financing. HOW?!
Hey there! I have a weird creative financing question for you. Have you ever heard of a deal where the seller carried the financing? Like say I dont have 20% down on a 100000 property. The seller has 100% equity the p...
Account Closed
Using private financing to help fund an owner-occupied multi-unit
Hello everyone.I have been learning about financing, and how to get started in REI. My husband is 2 years out from University, and I earn a decent living as a recruiter in Canada. I'm contemplating doing a BRRR, but I...
Peter Golfman
Brooklyn Live-In Equity Investment
Hi Folks,Disclaimers: planning to live in Brooklyn for next 10 years, recognize that its an equity play, not a cash flow play. Currently paying $2700 a month for rent in Brooklyn. Considering a deal in Bushwick, Ridge...
Bogdan Kosilov
Self employeed trying to buy first property
Hi,I’m trying to get my first rental property but don’t have a w2 that shows substantial income. I’m self employed and I barely even pay myself on paper so I’m wondering how I can actually get my first mortgage. I tri...
Kenneth Garrett
Will Forbearance Develop into Foreclosures in 6 Monthe
COVID-19 has created havoc in the RE sector. Tenants can’t be evicted and Landlords have to pay there mortgage. Is there something wrong with this picture. I acknowledge the fact there are loans/grants to apply for...
Nestor Soto
Hard money
Hello. I'm Nestor from MD. I recently got pre-approved for a mortgage by a hard cash lending bank and even with an excellent credit, since it's my first flipping deal, I only got 50k pre-approved. Anybody has any advi...