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    Wednesday, March 4, 2020

    Real Estate Investing: Canadian landlord must pay $23k to a tenant for hurting her feelings by not letting her burn ceremonial herbs in the basement apartment of his home.

    Real Estate Investing: Canadian landlord must pay $23k to a tenant for hurting her feelings by not letting her burn ceremonial herbs in the basement apartment of his home.


    Canadian landlord must pay $23k to a tenant for hurting her feelings by not letting her burn ceremonial herbs in the basement apartment of his home.

    Posted: 03 Mar 2020 04:49 PM PST

    I don't know what else to say about this, other than I'm glad I don't live in Canada...

    https://www.surreynowleader.com/news/surrey-landlord-must-pay-aboriginal-former-tenant-23300-for-not-letting-her-smudge/

    I don't know if "Human Rights Tribunal" decision is legally binding in Canada or if there is an appeals process?

    submitted by /u/thbt101
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    What do you guys think of my property analysis calculator?

    Posted: 03 Mar 2020 03:52 AM PST

    I am new to the world of real estate investing and don't have any properties under my belt yet. I've been doing a lot of research through books, online forums, following along here etc.. Once I started looking into the actual analysis of properties, I saw that a lot of online calculators would ask for a subscription of some sort and I didn't like the idea of having to go to a website every time I wanted to do an analysis so I made my own spreadsheet that would run the various calculations based off of your input and then perform some of the standard property analysis KPI's such as CoCROI, Cap rate, etc..

    It's not as fancy as some of the other ones I've seen on here with charts and graphs, but I think its gets the job done and just wanted to see what the community thought or to see if there were any criticisms/suggestions.

    You put your values into the orange/salmon colored boxes and the rest of the fields are calculations. There is a loan amortization schedule below, but I only the first year showing.

    If you like it, feel free to make a copy and save it!

    https://docs.google.com/spreadsheets/d/1B5GtCDeBMdpGU36-MzF3vMGt9x1XLck0eeAdXQPaarE/edit?usp=sharing

    submitted by /u/bwalter32
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    How could i obtain my first rental house with a low income?

    Posted: 03 Mar 2020 06:18 PM PST

    Let me know gents we all want to make a better lives for ourselves.

    submitted by /u/thechosenone2x
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    How do I get started? I want to be prepared to get out of the military.

    Posted: 03 Mar 2020 11:56 PM PST

    I am currently active duty navy. I will be moving to oak harbor, Washington in the summer for my next assignment. I hope it will be my last as I plan to get out. How do I get started? I don't have very much capital, about 10k, and BAH (housing allowance including utilities) is only about 1,200 monthly. I'm willing to do any research I need, or go out and network all I should. But I do not know where to start. Additionally, I am deployable so how possible would it be to manage a property from so far away, while deployed?

    submitted by /u/mitonator
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    Fed cuts rates by half a point

    Posted: 03 Mar 2020 07:39 AM PST

    Any real estate investors in NY?

    Posted: 03 Mar 2020 10:07 PM PST

    As a new RE investor, I'm looking at the market in NY since I'm local and it's probably best to start with places easily accessible. I'm looking at places east of Manhattan, particularly cities like College Point, Whitestone, Flushing, Bayside, and Bay Terrace. Is it me or is the area just generally very bad for real estate investors? Because most of the SFHs and multi-families either barely breakeven or the monthly costs greatly outweigh the cost of rents you can put out. So what I'm guessing is if there are any investors in this area they are buying for the sake of the house appreciating instead of a rental income... Or maybe the area isn't good for people looking for rental cashflow // catered only towards house-flippers and quick-fixes to sell in the near future.

    submitted by /u/FreeTheLe
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    what is the all time low 30 year fixed rate for refinancing?

    Posted: 03 Mar 2020 06:19 PM PST

    with fed cute today are we there yet?

    submitted by /u/xenocloud1989
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    Why does nobody talk about apartments for buy-and-hold investing?

    Posted: 03 Mar 2020 06:14 PM PST

    Hey Guys,

    Sorry if this is a dumb question but what is the reason nobody talks about apartments instead of houses for buy-and-hold investments?

    I'm new to real estate investing and have $50,000 to put in and the houses I can get in my area (NJ) for a $50,000 deposit are not great so I was wondering if I'd be better off with a ready to rent apartment.

    Any feedback is appreciated!

    submitted by /u/IPTVHelp
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    Taxes on gains from brrrr

    Posted: 03 Mar 2020 03:48 PM PST

    Lets say you buy and rehab a home for $70k, it values at $120k, and you cash out refi at 25% down.

    What taxes are owed on the $20K difference?

    submitted by /u/justjdi
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    Can a personal credit judgement prevent an owner from presenting a clear and free title?

    Posted: 03 Mar 2020 03:31 PM PST

    Im in the process of closing a deal and the title company just came back and said the owner has a judgement on his credit that must be settled before he can move forward and close. I've never heard of that holding up title and wanted to ask if this might be unique to certain states or this particular title company?

    *State is Tennessee for this deal and transaction about $25k

    submitted by /u/finallyfree909
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    Anyone here like las vegas as an investment right now?

    Posted: 03 Mar 2020 11:43 AM PST

    Got a sweet townhouse potentially in henderson for 200k. Love the place. Considering buying and renting out, maybe use myself sometime in the future. Just worried about what recession would do. Other option is Raleigh which I think is more recession proof but hoses not as nice

    submitted by /u/Firm_Salamander
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    No deals in my home state. Sittin on Cash.

    Posted: 03 Mar 2020 12:06 PM PST

    There's no deals in my home state (utah) . More specifically Salt Lake city. NOI doesn't even cover the mortgage on most properties. I'm essentially priced out.

    Now I'm sitting on my hands with cash. What is one to do? I've already put as much value add into my existing units.

    What do you do for investments when there is no longer any RE deals in your home state?

    submitted by /u/EricJones1231
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    How do I buy properties in Detroit?

    Posted: 03 Mar 2020 08:07 PM PST

    I'm new to learning about real estate and was wondering what's the best way to get some of these fix and uppers in Detroit? I already know about land bank

    submitted by /u/matrix369_
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    Credit score drop during refinance

    Posted: 03 Mar 2020 07:46 PM PST

    My credit score dropped a ton during rate shopping. I did not realize it was happening because my score monitoring looked fine. Turns out they use some other score Now I am in a tight spot How long before my score comes back? Anything I can do or am I f***ed ?

    submitted by /u/thrvy5545
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    How are you finding your wedge deals in a hot market?

    Posted: 03 Mar 2020 06:27 PM PST

    I live in a hot market homes standard 3/2 1600 sq feet type houses. How are you combatting hot real estate markets for your wedge real estate deals?

    Seems like houses are going for for more than asking price. Fixers are also going in a couple days as well.

    Thanks for the help

    submitted by /u/jms9993
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    Nyc investment property question

    Posted: 03 Mar 2020 05:59 PM PST

    How much do you usually need to put down to purchase in nyc— specifically a normal 2 bedroom apartment?

    I've heard people say nyc is impossible to buy in because so many offers are in all cash.

    Does anyone have any experience with nyc real estate?

    Thank you.

    submitted by /u/thr0weaway_
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    120k passive income

    Posted: 03 Mar 2020 05:22 PM PST

    Hey guys I'm new to real estate investing but how long would it take for me to get to 100k passive income realistically. Ik it depends on market and the work I put in. Can anyone who has 100k+ of passive income tell me how long took them?

    submitted by /u/lostandbrokescience
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    Refinancing mortgage after 15 years?

    Posted: 03 Mar 2020 03:37 PM PST

    My wife and I sold our house to move for a job, we bought land and are working with a builder, can I buy a primary residence to move into for maybe 6 months without committing fraud?

    Posted: 03 Mar 2020 03:11 PM PST

    My wife got a new job, currently drivable (1.5 hours each way) but has gotten old fast. We are under contract with a buyer that we are going to have a rent back agreement for 3 months.

    We are closing on land to build a home this Friday. With that we are working with a builder and they are thinking we can move in as early as November but I'm guess more like February next year.

    Our last day of the rent back agreement can be no later than July 25th. Meaning we will need a house for 2-6 months.

    We have other rental properties and we want to buy a house to live in, renovate then rent when we move out.

    With such a short time of "primary" housing. Would this cause an issue and possibly mortgage fraud if we rent it out 3 months after we buy it?

    Is there other issues that could possibly creep up that I'm missing?

    Thanks in advance!

    submitted by /u/thatoneguysbro
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    Cash Out Refi and Leverage Question. ELI5? [Bay Area, Ca]

    Posted: 03 Mar 2020 03:07 PM PST

    Hello REI,

    I have been running analysis on my first house SFH where we've been building an ADU to make the house into a house hack. The ADU is nearly complete after 2 years and we're almost ready to refi. I have a lender lined up who is offering a special program for our zip code that puts us at a 3.5% loan. Given the rate cut, I'll shop this around, but that is a great deal as it is.

    I'm considering a cash out refi to purchase another investment in our area since we estimate we will have 250K in equity. However, we're in the Bay Area which means our equity will not buy an investment out-right. We are hoping to continue to invest in our area. To buy an investment we would likely use the cash out refi to put a down payment at 20% and then finance the rest, however, this means we're financed twice over, yeah? Financed on the 250k + the new mortgage?

    When I read about cash out refi on bigger pockets etc, people talk of it as "free money" but that logic Doesn't add up for me. Can someone ELI5?

    I also welcome opinions about investment strategy given my market and position.

    submitted by /u/bakem80
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    Questions to ask banks/credit unions about financing

    Posted: 03 Mar 2020 03:04 PM PST

    I'm ready to buy my first property, I've scoped out an area where the numbers seem to work favorably (positive cash flow in a non-appreciating market, houses in the 70-80 range that rent for 850-950). I've found an agent and we've had a couple productive conversations, things are moving along.

    Next step is getting pre-approval letters. I have a list of banks and credit unions, but I want to have a better idea of what to ask, which options to consider, etc.

    I bought my own home a year ago and the financier walked me through the whole process, but this time I'd like to be a bit more proactive.

    What's your process when you hunt for financing?

    submitted by /u/Harry_Coolahan
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    What are currently the best areas in the country for the combination of strong cash flow and strong appreciation possibilities over the coming decades for single family homes?

    Posted: 03 Mar 2020 02:31 PM PST

    “First time REI financing, no credit, no min. Income...” too good to be true?

    Posted: 03 Mar 2020 09:52 AM PST

    I see all these ads online on Craigslist or such supposedly offering loans to people wanting to invest in real estate with no credit checks, minimum income, blah blah blah "even if the banks turn you down we will finance you" to me this seems like there's gotta be a way bigger catch than simply higher than normal interest rates. Are these ads shady and scammy, or could they be legit?

    Here are some links for reference:

    https://greensboro.craigslist.org/fns/d/greensboro-local-private-investor/7086456399.html

    https://www.wstrncapital.com

    submitted by /u/cjv1_
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    1st time home buyers. Should we purchase investment property first or our home?

    Posted: 03 Mar 2020 12:09 PM PST

    My husband and I are torn on what to do. We are currently looking multifamily homes with plan to live in one unit and rent the other(s) out.

    Its been recommended that we purchase the multifamily before our home since the interest rate will skyrocket if the 2nd home repurchase is for investments.

    Torn on what to do!

    submitted by /u/HeartOfMelon
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