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Mendocino Farms’ sandwiches are amazing.
That is all.
Can anyone share experiences working at iHeart?
How did you get into real estate?
What percentage of your income do you spend?
Is rivian a buy at this price?
Mendocino Farms’ sandwiches are amazing.
That is all.
Can anyone share experiences working at iHeart?
How did you get into real estate?
Mentor
I’ve heard different things from multiple lenders for my negative cash flow property.
One held the mortgage obligation from a rental against me, but refused to count the rent received because I did not hold the property for at least 2 years. If it was over two years, he would have counted 75% of rent for DTI calculation.
Another lender netted my mortgage payment with rent and only counted the difference against me in DTI. They would ignore any positive cash flow unless I held the rental for at least 2 years.
You should probably ask your lender.
Coach
if the rental property was purchased in 2022 and not on your 2021 taxes you can use 75% of the lease amount as the rental income. if it is on the 2021 taxes below is the calculation.
Rent received (line 3)
- Total expenses (line 20)
+ Depreciation (line 18)
+ Taxes (line 16)
+ Mortgage Interest (lines 12 & 13)
+ Insurance (line 9)
+ HOA Dues (line 19)
- Monthly PITIA (the total housing payment including HOA dues)
The result is the amount you can use for rental income. Let me know if you need help.