Ask the Expert Q&A Issue | Mortgage Guidelines posted on the topic | LinkedIn (2024)

It's the Best of our "Ask the Expert Questions" - February 2024 - Q&A Issue JUST RELEASED!8 NEW - Agency Comparison Charts w/ Investor Overlays - See "Latest Updates" for Complete List2 NEW Social Media Posts!Our Experts Get 100's of Questions Each Month - Here are Some Highlights!✔ Using Seller Credits to Pay Off Borrower Debt✔ Handling a K-1 Section 179 Expense✔ Wait Period for a Cash-Out on an Inherited Property✔ Bonus & Overtime Income & the 12-Month Requirement✔ Adult Children Purchasing a Home for Their Parents✔ Who Can Verify the Completion of "Subject to" Repairs✔ Using Income When Temporary Leave Ends After Closing✔ VA Requirements for a Leasehold✔ USDA - Using a Pay Increase After ClosingPlus, More Questions and Answers on Our Site!Subscribers can find this issue under "Current Issue" and Archived Issues under "Past Q&A Issue."Keeping You Smarter Than the Competition!www.mortgagecurrentcy.comSimplifying the Complicated™

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Prepare for your appointment, getting together all the documents below will help your adviser provide you with accurate facts and figures, and make the journey as smooth as possible ☑️Last three months' bank statements ☑️Last three months' wage slips and details of any guaranteed overtime, bonus or commission ☑️If you are self-employed, you'll need to bring the last three years' proof of accounts ☑️Any details of existing mortgage/loans or credit card commitments ☑️Any details of any arrears, defaults, County Court Judgments (if applicable) ☑️Details of any existing life insurance, endowment, savings, pensions or healthcare policies☑️Details of any benefits from your employer e.g. death in service and sick pay ☑️Identification, e.g., driving licence or passport (you’ll only need this if your appointment is face-to-face/or after your initial call to allow us to process things for you) ☑️ Proof of address, e.g. utility bill dated within last three months ☑️P60 (if available)☑️It's helpful to have a copy of your credit report to hand as well. You can easily obtain your copy online (often for free).

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Prepare for your appointment, getting together all the documents below will help your adviser provide you with accurate facts and figures, and make the journey as smooth as possible ☑️Last three months' bank statements ☑️Last three months' wage slips and details of any guaranteed overtime, bonus or commission ☑️If you are self-employed, you'll need to bring the last three years' proof of accounts ☑️Any details of existing mortgage/loans or credit card commitments ☑️Any details of any arrears, defaults, County Court Judgments (if applicable) ☑️Details of any existing life insurance, endowment, savings, pensions or healthcare policies☑️Details of any benefits from your employer e.g. death in service and sick pay ☑️Identification, e.g., driving licence or passport (you’ll only need this if your appointment is face-to-face/or after your initial call to allow us to process things for you) ☑️ Proof of address, e.g. utility bill dated within last three months ☑️P60 (if available)☑️It's helpful to have a copy of your credit report to hand as well. You can easily obtain your copy online (often for free).

SOLD at the phenomenal price of $977,000!You can make money from your negative investment property.Here’s how↓↓↓When your income producing asset (rental property) can’t cover its operating cost, then you’re at a negative.This makes you eligible for reduction in income tax.Depending on the number, the reduction can be enormous.That’s not all.You still gain “real profit” from the equity that the asset is building overtime.This strategy is called negative gearing.I don’t recommend this for your first investment property.Focus on building an income generating portfolio first, then you can diversify your portfolio and strategy.The core of this strategy is to have a property with strong growth potential.You can use the service of Nidus Buyers Advocacy to search and buy this type of home.If you want to sell your property, contact Contact me at 0421 380 829 and we will sell your property at its best market value.*not financial or legal advice#sold #soldproperty #realestateagency #propertyagent #australianproperty

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Curious about Creative Financing? Check out our YouTube Channel! https://lnkd.in/gTCKtg5HIf you're wondering what creative financing is all about, think of it as the secret ingredient in real estate that makes everything safe and stress-free!With creative financing, say goodbye to banks, large down payments, and personal guarantees. It shields you from unexpected twists in your real estate journey.How does it work?We've got you covered in our Creative Financing Series with Zachary Beach. Make sure to subscribe to our channel - Elevate Through Real Estate - so you never miss a fresh release! 📺And if that’s not enough. There’s more in store for you!Get Wicked Smart's best-selling books, Real Estate On Your Terms and Deal Structure Overtime, delivered to your doorstep completely FREE. Just fill out the form through https://lnkd.in/dWpG-53e#CreativeFinancing #realestate #realestateinvesting #realestateinvestor #realestatetips

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Did you know that the property you invest in contributes only around 30% towards wealth created overtime? Other factors that determine the quantum of wealth generated includes tax paid during holding and at the sale, total interest amount paid on borrowings, timing of acquisition or disposal, estate planning issues, and risk management strategies in place. To maximize your wealth using property, it’s best you consider consulting with a team of professionals. This includes a financial planner, mortgage broker, tax advisor, and real estate expert. Looking to build wealth through property? The team at P16 makes it a reality. P16 team has all the wealth professionals you would need to build wealth through property.. #wealthcreation #realestateinvesting #financialplanning

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Steady Cash Flow🚀 ⭐ Owning real estate is a way toboost your monthly income.⭐ Whether it is residential or commercial real estate, Tenants will rent as they need a place to live. ⭐ You will receive monthly income.⭐ This can be used towards paying off your loan, insurance and taxes.⭐ Overtime you have built equity in real estate.⭐ This can be used for FINANCIAL FREEDOM#cre #realestate #passiveincome

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⚕️More freedom, more risk? ⚕️Depends! ➡️1099 vs. W-2 👉🏽Pros and Cons💥1099📌Pros-You are your own boss-Greater control over the work you accept-You can earn more money-Tax benefits from expense deductions📌Cons-Must withhold your own FICA taxes-Must buy their own health insurance and benefits-May need a federal and state tax ID number💥W-2 📌Pros-You get job security -Excellent benefits such as-access to health insurance, retirement plans and -other benefits provided by employer-Your taxes and protections are handled by employer-Consistent team - smoother project accomplishments 📌Cons-Set Schedule -No flexibility -Higher Taxes -Limited earning potential - such as-Additional income requires overtime for hourly -Or long days for salary employees -Less control over work➡️Ultimately, the decision between being a 1099 or W2 employee will depend on your individual needs and goals. 📌Consider your -financial situation, -scheduling needs, and -career aspirations when making this important decision.

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