All Forum Posts by: Brad Simmons

 Financials for the last 12 months.

Did you ask the title company?

I found this guide by Michael Blank helpful.

Thank you @Anthony Chara

Several related questions...

Are security deposits considered income when determining NOI? Are they expenses when they are returned? When you buy a property, should the seller turn over those deposits in cash after the sale?

When buying a property, and I'm thinking specifically of a syndication deal, do you raise your cash reserves from investors? I'm thinking of cash that goes above and beyond any known repairs or improvements.

When doing quarterly cashflow payouts for a syndication deal, how do you determine what is "cashflow" at the end of the quarter? You need to be setting aside cash for CapEx so do you just have an established percentage that gets set aside for that?

Yes, call and ask. I'm almost certain that I have had two FHA loans on my first two primary residences.

Has a lender told you that you can't get an FHA loan? As far as I know they're not unavailable to you just because you have had one before.

 Not yet. Hoping to soon.

Welcome @Luke McGaugh. I'm in the Wichita area and am learning a lot through BP. Good luck to you!