All Forum Posts by: Sal Zafar

Thanks Aaron... Good tip. 

Hello All - is there any way saving in home insurance and maintain good policy coverage. Blanket or umbrella coverage will save some $? to cover 5 and less properties at the moment. 

Showing Profit /Loss on 1040 from Rent in the eyes of lender. 

So lender see profit on 1044 as a "income" which helps along with your job's W-2 allow one to leverage it to get bigger/more loan and stay within 45% rule. If show loss,  then of course it's a not a "income" anymore.  

Hi All - I just join BP (yesterday) and I am in North of Austin. Also looking for wholesale houses to flip and or hold. 

Hi Bob- Welcome! I just join BP yesterday :) and live in Austin land area. Working on my 3rd property (will be closing in Aug). We definitely can connect. Thanks! 

Hi - new to BP. :) 

So purchasing via HELOC on 100% make sense, but is it a good idea to use HELOC from one house to put 20% down to another one and finance the rest?

Example:

$100k house

HELOC = $20K

Finance $80k for 4.875 (since rental property is in higher %). 

this means i'll be paying P&I towards conventional loan and payment for HELOC as well and even with rent coming-in will property still give out +ve cash flow?.

Thanks