Vladimir Patic
401k Loan as downpayment
I have read somewhere that if money from 401k is used to purchase an investment property that income from that property would be tax free. Is this accurate or not?
Sidney Garcia
Can the 2 year work history be waived on a FHA loan? unique situation.
Hello everyone, I would like to have a FHA loan for my first investment property and put down 3.5% as down payment. even though I don't have a two year work history, I have 6 months of great bank statements. Making 10...
Michael Masters
COVID-19 and Your Lender's Response
Below is what I've seen from Freddie Mac where I got my loan. Please note that "borrowers are eligible for forbearance regardless of whether their property is owner occupied, a second home or an investment property."...
Nicole P.
Multi-family Loan Advice?
Hey there. I’m in the process of getting approved for a loan to buy my first property. I was really hoping to buy a small multi-family property to start with. I was talking to my lender about options today and they to...
Carlos Webel
Owner financed offer and amortization schedule
Dear all,I’m working on a 3/2 SFR rental lead in Houston Metro area. Asking price is 175k$ and I’m coming back with the following 2 offers: a)160k$ cash, no contingenciesb)175k$ Owner financed with 40k$ down and 135k$...
Mauricio Ramos
Tax advantage on interest only?
Hello BP,I am working on a deal with a seller willing to owner finance a 6plex. As part of my terms, i am asking for 12 months interest only at first and then start paying off the loan to the seller with interest. The...
Jeffrey Honaker
Tax help on lease purchase agreement!
I bought two houses on the same deed in a lease purchase agreement in July 2017. I live in the single family and rent out the duplex. I have made repairs on the duplex and collected rent as well while also paying rent...
Troy Cole
Motivated Seller is READY! What do I do?
I have an owner occupant/ seller who is willing to carry a note on the property at $20,000. It's worth easily $40,000 fixed up though he pays taxes on $50,000. It needs about $5,000-$6,000 in rehab and will rent for $...
Daniel Murphy
When does seller financing make sense for the seller?
Hey all, we're looking to sell our home in the Twin Cities Minnesota. We're in a really good area. Looking at listing for the $430-450k range. We owe about $304k & are in probably year 2 of a 30-year loan at 3.12...
Nathan Brock
Can I buy my first investment property while still renting?
Hey there!Mortgage rates make buying a permanent residence painful and costly... I live in central Oregon, a HIGH cost of living area...I live in a great apartment complex and rents are at least $500/mo lower than a t...