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miadams06

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Post Posted: Mon Jun 29, 2009 7:40 pm    Post subject: investment property
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I have a borrower that's trying to buy investment property. He's self-employed. How do I calculate his income from 3 years of personal tax returns, profit and loss statements, bank statements and business tax returns?
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Icon Mini Profile jameshogg
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Post Posted: Mon Jun 29, 2009 10:47 pm    Post subject:
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Hi miadams,

In my opinion, as the borrower has provided you with the income tax returns, you can easily calculate the applicant's net income (amount after expenses but before taxes) for the past 3 years from it. Then the year-to-date income for the current year is added to the total. Once this is done, the sum is divided by the total number of months involved to arrive at the average monthly income of the borrower.

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Icon Mini Profile robertsmith2005





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Post Posted: Tue Jun 30, 2009 8:10 am    Post subject:
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ask him to share income tax return.
Icon Mini Profile gmakerley
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Post Posted: Tue Jun 30, 2009 9:11 am    Post subject:
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miadams are you a loan officer? you don't know how to read tax returns?
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SWarghad

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Post Posted: Sat Jul 11, 2009 3:01 am    Post subject:
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Hi,
I think ,
If you want to invest your property,you do that. But first of all you should think that if you inverts money .You think that can we get profit.
Icon Mini Profile gmakerley
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Post Posted: Sat Jul 11, 2009 4:28 am    Post subject:
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please strive to post commentaries that make sense, SWarghad.
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SWarghad

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Post Posted: Mon Jul 13, 2009 11:52 pm    Post subject:
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I think we should invest money do not mind. But you have to invest our property on good benefit. we should not go in loss.
Icon Mini Profile gmakerley
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Post Posted: Tue Jul 14, 2009 7:46 am    Post subject:
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boy that sure clarifies things.
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