All Forum Posts by: Corri Golden

@Basit Siddiqi Yes, at that time, since properties were purchased in December, the lenders wouldn't count the income because it wasn't on the on my tax return, but did count the mortgages against me.  But that is no longer the issue.  My main question is about deductions and remaining lendable.

@Michael

@Michael Plaks Thanks for the response. No, neither explained that at all. The issue came because five doors were purchased in December and the lenders counted the mortgages against me but didn't use the income. I do have another 1099 job, but with the number of properties that I bought in the year and the deductions the five lenders that I spoke to said they wouldn't be able to lend at the moment. I'm in the midst of learning about DSCR and non qualifying mortgages. I'll add asset-based lending to the list and check out the forums. Thanks.

In 2022, I purchased 10+ single family and small multifamily properties.  During tax time, I deducted as much as I could.  Unfortunately that left me unable to purchase properties the following year.  How can I find the balance between deducting expenses and remain lendable? Are there any strategies or books that touch on this?  I've spoken with the two CPAs and they have basically left it to me as to how much I wanted to deduct.

Thanks @Greg Kasmer for the response.  It's certainly helpful.

@Evan Polaski - Thanks for the response.  Isn't the going in cap rate important for making an offer or for seeing if the owner's asking is realistic? I will definitely continuing searching for brokers in the area.

I'm fairly new to analyzing multifamily larger than 4 units.  I'm currently analyzing a 16 unit that's approx. 40 mins from Knoxville, TN.  There are no other multis for sale, and I'm having a hard time finding Cap Rate for the area.  Is there any default Cap Rate to use for analyzing a class C property?