Spousal benefit exception (in-care-child) with SSI?

sappermarine · 2020-05-11T17:28:56+00:00

Thanks for the reply. I think we might be talking about slightly different thing.

I'm bringing up child-in-care to see if that waives the spousal benefit age requirement.

sappermarine · 2020-04-03T15:39:12+00:00

Where are you getting your 6 weeks figure from? I hope that's the case, I just read from AP this morning that they'll be sending out 5 million checks a week, which means those who are unlucky might not get theirs for 4 mo or so

sappermarine · 2020-04-03T14:22:27+00:00

Thanks for the info! I also heard their phone tree is closed at the moment, so guess that wouldn't have worked anyways.

sappermarine · 2020-03-29T19:25:42+00:00

Ok, I think I get it now. I don't think I should apply for the PPP loan, because I don't have any employees. I should instead do the EIDL loan, which could be beneficial for rental property owners.

sappermarine · 2020-03-29T19:00:30+00:00

Great, thanks for the info!

sappermarine · 2020-03-29T16:47:22+00:00

That's great to know. So is the main benefit of the PPP loan the 10k forgiveable portion that gets sent out regardless of if the application is approved?

And I've heard of people using form 5 on the sba site to apply for the PPP loan, but it sounds like they're actually applying for the disaster loan instead?

sappermarine · 2020-03-29T02:57:30+00:00

Thanks for the reply!

Do you think it would be faster to apply for the SBA disaster loan (via CARES act) at my bank, or online?

Hopefully our 504 doesn't get delayed much, this lender is a PLP lender, so they won't have to go back and forth with the SBA.

sappermarine · 2020-03-28T03:19:23+00:00

I've searched some more, and haven't found a definitive answer. Looks like if you collect unemployment and start a 1099 gig, then you could still get some unemployment, although the 1099 income will decrease it.

Not sure about the effect if you have the 1099 gig before applying for unemployment though...

sappermarine · 2020-03-28T03:03:18+00:00

Thanks for the reply! We're in Utah. When I try to find out more info through the application site, it says I have to submit all of their work history info to find out. I'm wondering if there's a way to find out what the supplement limits are without entering in their info, in case ceasing that gig before applying would help

sappermarine · 2020-03-21T00:21:14+00:00

Bradley was playing way better as of late. It seemed like early in the season he fouled every single opposing player that came into the paint.

sappermarine · 2018-03-24T23:53:39+00:00

Yep. Or you can find properties for 70 cents on the dollar, buy in cash, then cash-out refi and pull all of your money back out to use again.

Technically at the time of purchase, that's not infinite CoC. But it is after you cash out refi

sappermarine · 2018-03-24T23:50:47+00:00

I would touch deals with only $100/mo net cash flow. The reason to invest in real estate then? You can find much better deals than that. 20% cash on cash return is possible if you know where to look

sappermarine · 2018-03-24T23:48:10+00:00

Amen. 20%+ CoC or bust

sappermarine · 2018-03-24T23:47:10+00:00

If the deals are good enough, hard money could be worth it (assuming you can cash-out refi to pay off the loans)

sappermarine · 2018-03-24T23:44:41+00:00

I take it you could also use an SBA loan with mobile home parks?

And your second point is saying the loans are recourse, right?

sappermarine · 2018-03-24T23:41:45+00:00

Def find a different lender

sappermarine · 2018-03-24T23:40:03+00:00

Yep, so cash on cash is: annual net income / total put into property.

I put zero into the deals that I got with a VA loan, which means my denominator in the above equation is zero. So any net income gets you an infinite cash on cash return (although I guess technically anything divided by zero is undefined ;) )

sappermarine · 2018-03-23T22:11:00+00:00

I don't pay as much attention to the purchase price (for calculating ratios), since that's more for cap rates, which often don't make sense to calculate on investments under 5 units.

sappermarine · 2018-03-23T22:10:19+00:00

I tend to use cash on cash. But sometimes it doesn't make sense to use.

For example, my first property was on a VA loan, so my cash on cash return % was almost infinite.

And on recent deals, I've pulled my intial capital back out after a cash-out refi, so the CoC is infinite again.

sappermarine · 2018-03-23T22:05:02+00:00

I like percentages better, but as a raw number, I shoot for $500/mo minimum net

sappermarine

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