Updated about 5 years ago on . Most recent reply
Tax advice to qualify for 2nd and 3rd mortgage ?
Most people want to pay $0 taxes for rental property , but claiming $0 profit allows you to qualify for less for your second and third mortgage (due to DTI) . Any advice to pay less taxes but still use the rental income to qualify for second and third home.
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@Abdul Zulali
You’re talking about two totally different things. You always take the tax advantages that the Taxman gives you. Then you show your banker the numbers on the potential investment property, including rents and expenses. Lenders know you’ll be taking tax deductions for taxes, insurance, expenses, depreciation, etc.