Real Estate Investing: How do you find investors? |
- How do you find investors?
- Communication with Tenants Regarding COVID19
- 1031 Exchange Experience?
- When does it make sense to hire in-house management?
- How do you find the best professionals for rehabbing?
- Looking to purchase property in Puerto Rico as an American citizen. Have financing questions
- Investing - Roth IRA or House Hack Down Payment
- Common practice with property managers finding renter and me posting myself.
- Financing Options - 20 unit MF deal
- Do you think the next recession will have the same impact on RE as in 2008?
- Question about LLCs and liability
- Equity loan? Best course of action
- Will the news of this pandemic and overall stock market downturn cause housing prices to increase or decrease?
- How to expense/depreciate landscaping?
- Finding a rehab deal
- Leverage
- Tax accountant vs. financial advisor
- Landlords will lose big during COVID19. Here’s why
- North Carolina security deposit holding location?
- House hacking advice for a young person graduating college?
- Using a HELOC or conventional Loan for Rental.
- How to get a full price offer accepted?
| Posted: 14 Mar 2020 04:35 PM PDT In the next few months, I'll have bought my fifth rental, but I'd like to buy more. Each property is doing very well, cash flowing 250-550 each month. Up until now I've used my own cash, but I don't know where to start looking for investors or what to say. I'm pretty outgoing, but talking about money feels almost taboo. What should I do? [link] [comments] |
| Communication with Tenants Regarding COVID19 Posted: 14 Mar 2020 11:31 AM PDT Hi everyone. I'm sure you've had enough with the coronavirus talk (as have I), but I have a question for all the landlords out there: how are y'all communicating with tenants about COVID19? Are you sending something along the lines of, "hope you are well!" or is there something else I should be saying? I know many of us are worried about tenants possibly not being able to make rent as a result of the economic slowdown. [link] [comments] |
| Posted: 14 Mar 2020 04:14 PM PDT Posted earlier on r/personalfinance without success: I have three properties in Alabama with about $100k in equity across them. I've had them for 13 years so there's quite a bit of depreciation to be recovered. I have another in Texas with about $100k in equity, which I've held for 6 years. I'm interested in selling them and reinvesting into a single property closer to home (I.e. purchase our eventual retirement home). They're well rented and managed but major repairs are becoming more frequent, which harshes my mellow. Has anyone done a 1031 exchange? This proposed transaction seems complex and I'm not sure the savings would be worth it, as online examples I see generally involve very expensive properties held free-and-clear. Would appreciate some thoughts. Many thanks. [link] [comments] |
| When does it make sense to hire in-house management? Posted: 14 Mar 2020 08:09 AM PDT My father and uncle own 124 residential units in southern CA with cashflow around $520,000/yr. This isn't including a management since they currently do it themselves. They are now looking to wind-down and focus on non residential commercial properties while letting management take care of their units. They want to know if they should start hiring in-house employees or let a third-party management company do it. I've been talking to management companies and getting quotes of 8% of gross rents for the entire portfolio. I've also done some searching on biggerpockets and throughout reddit, it looks like many people don't like management companies so I looked into seeing what an in-house management team would cost. 1 FT property manager = $45,000 1 FT Handyman = $40,000 PT bookkeeper = $20,000 Leasing an office = $15,000 Paying employees insurance = ? Paying for vehicles or gas = ? Software = ? Total might be around $140k-$150k a year for in-house management, this is my estimate, I could be way off. I'm sure this also comes with a lot of it's own hassles that can't really be accounted for. The management companies are charging 8% of gross rents collected. Gross rents are $1.12 million/year, at 8% that would be around $90k a year. The big issue I see online is that management companies might overcharge for repairs or add in fees here and there. Would it still be worth hiring in-house? If not, when does in-house become worth it? [link] [comments] |
| How do you find the best professionals for rehabbing? Posted: 14 Mar 2020 12:24 PM PDT I'm interested in getting into real estate, including rehabbing houses. I'm curious what others have done to ensure they have surrounded themselves with the best, trustworthy professionals as part of their Network/team. By professional, I mean contractors, realtors, real estate attorneys, private money lenders, etc. [link] [comments] |
| Looking to purchase property in Puerto Rico as an American citizen. Have financing questions Posted: 14 Mar 2020 04:00 AM PDT I live in the States and am interested in purchasing property in Puerto Rico. I can't seem to find answers online, hoping this sub can help. Is financing a thing? If so, are conventional 20% down terms the norm? This would be a second home. Is an all cash purchase the way to go? Thanks in advance! [link] [comments] |
| Investing - Roth IRA or House Hack Down Payment Posted: 14 Mar 2020 06:13 PM PDT Hello, Ive been saving steadily for my first house hack purchase and I am not too far from my goal. Obviously we are going through panic in the stock market and I'm starting to think if I should take a piece of the pie or stay on my path of continuing to save for house hack? thanks [link] [comments] |
| Common practice with property managers finding renter and me posting myself. Posted: 14 Mar 2020 02:10 PM PDT I have a property manager looking for tenants for me and they post the ad to Kijiji and there own website. I pay them for the services as they'll be showing the house. It's been 3 weeks now and no one is living in my house yet, haha. I'm a little panicked as it's my first investment and I just want someone in there. There has been 4 viewing at the house but not enough to get someone living there. Can I post myself to all other sites and use their phone number so more people can see the listing. I could be posting on Facebook, craigslist, and any other site myself it's not hard. Heck I could even find a free lancer for $5 that would do it for me. Looking for others experience or others that may be connected to a PM and your thoughts on how you would feel? Location : Winnipeg, Canada [link] [comments] |
| Financing Options - 20 unit MF deal Posted: 14 Mar 2020 02:15 PM PDT I am touring a 20 unit apartment building this week that was just listed for sale. Decent asking price for a value add investment that is currently renting at 58% of market rates. Plan is to renovate unit by unit, shuffle tenants or find new, and have a 3 year hold. I am a mid 20's recent college grad with a masters in real estate development, spent 2 years at CBRE, and now work for a commercial GC. I currently have no debt, but due to that am lacking assets/liquidity. I have a family member committing the down payment costs for an acquisition and construction loan. Operating agreement structure would be that I control all aspects of development, pay IO @ 5% on his money lent to me during 3 year hold and upon reversion, distribute 10% of proceeds back to him. Is a bank going to loan on this set up? What requirements are they going to have? I was planning to collateralize the property due to lack of assets. Any other comments on this structure? [link] [comments] |
| Do you think the next recession will have the same impact on RE as in 2008? Posted: 14 Mar 2020 10:04 PM PDT As the title states, what's your opinion on what will happen to real estate during the next (perhaps imminent) recession? Will residential real estate values drop like they did post 2008? [link] [comments] |
| Question about LLCs and liability Posted: 14 Mar 2020 10:09 AM PDT Curious to hear your perspective on LLCs. Question numero uno: do you have each property in its own LLC or do you group them? If you're a grouper what's your criteria? Question "B": do you run a separate bank account for each LLC or hold one master business account? [link] [comments] |
| Equity loan? Best course of action Posted: 14 Mar 2020 04:30 PM PDT Hey everyone, long time lurker first time poster. I wanted to discuss the options of going the HELOC route to put down for another rental property. My brother and I have 3 properties that we own 50/50 and trying too course the best action for our next RE move heres the info on the properties Blue house Estimated value $440k Redfin Estimated value $414k Zillow High end equity $225k Low end equity $200k Bought $215k (In 2010) Mortgage, insurance and taxes $1100 Rent for $1800 Net $700 Brick house Estimated value $720k zillow Estimated value $671k Redfin Bought $0 (inheritance) Insurance and taxes ($5200 yearly) Rent $2600 Duplex (We currently live in each side of the unit) Estimated value $670k Redfin Estimated value $574k Zillow High end equity $217k Low end equity $121k Bought $453k (purchased in 2016) Mortgage,taxes,insurance $2400 Whats the best course of action? Commercial? Multi-unit? Thank you. [link] [comments] |
| Posted: 14 Mar 2020 10:13 AM PDT |
| How to expense/depreciate landscaping? Posted: 14 Mar 2020 06:45 AM PDT I am owner occupying a fourplex that I bought in October 2019. Last month I had landscaping done and am trying to figure out the best way to account for it.
For what its worth, the regular maintenance items totaled in around $1,100, and the land improvement and gravel came in around $3,500. How would y'all go about accounting for these expenses? [link] [comments] |
| Posted: 14 Mar 2020 05:01 PM PDT How do you find a rehab deal? Is there anything I can do? [link] [comments] |
| Posted: 14 Mar 2020 06:37 AM PDT Hi guys, I am interested to hear some opinions: Is anybody mindful of being overextended in terms of debt if an economic slowdown is to follow the virus crisis? [link] [comments] |
| Tax accountant vs. financial advisor Posted: 14 Mar 2020 10:05 AM PDT Apologies, if this sounds like a dumb question. I have never used a tax accountant or a financial advisor. I have a bunch of questions/ need for advice and I m not sure which is the right professional to engage. We are thinking of building a granny unit in the back of our house for rental. Questions I have in mind include: can I depreciate the granny unit to offset tax on rental income? (Even though it is situated in my primary residence). Should I pay for it in cash, or take a separate loan/mortgage for the granny unit to, again, offset for rental income tax? Will it work if I refi our entire house after construction is complete , and prorate the mortgage interest as per sq ft to calculate interest for rental unit? How does capital gain get calculated when the sell the entire property? (Given that primary residence part of it wasn't depreciated and granny unit part of it was). Are these questions for tax accountant or financial advisor? Thanks in advance. [link] [comments] |
| Landlords will lose big during COVID19. Here’s why Posted: 14 Mar 2020 05:27 PM PDT Lots of lower/middle income tenants work in local retail/service type industries. These industries are obviously seeing major losses in revenue so far, could become worse as time goes on. Individual state governors will come out and make it temporarily illegal to file an eviction against non paying tenants in district court, giving tenants free rent (maybe a few months? 1 year?). Politicians need to play to the "common folk" in this time of chaos. They could care less about the "wealthy landlords" Will be interesting times. [link] [comments] |
| North Carolina security deposit holding location? Posted: 14 Mar 2020 06:50 AM PDT I'm a new north Carolina landlord, working through getting everything set with our first tenant. I understand that state law requires the security deposit to be held in either a trust or escrow account, or to obtain a bond. I just called my bank though and they don't do that. Any tips on how to best meet the legal requirements? Who do you use, how much does it cost, is there something I'm not understanding with the law? Thanks for the help! [link] [comments] |
| House hacking advice for a young person graduating college? Posted: 14 Mar 2020 10:21 AM PDT Hi all, Apologies if this information has already been repeated elsewhere. I am a 3rd year undergrad who is planning on purchasing a duplex/triplex within my first year or two of graduating and looking for some advice on the subject of "house hacking". Thanks to the sub I've done a good bit of reading on the world of real estate investing but I would like to continue educating myself and figured this would be a good resource. I'm currently reading Garret Sutton's "Loopholes of Real Estate". I plan to graduate with around -10k in savings. I'm majoring in finance and business information systems and plan to use the income from a potential position in banking to buy my first property and continue scaling after that. Hopefully at some point leave my job all together and ideally dive fully into real estate. I believe scaling down would be much easier with a team than alone. The market I am located in is not particularly expensive and has low costs of living. For those of you who have house hacked, is there any particular advice you would have for someone in my position? I know there are FHA loans that offer low down payment amounts and decently good rates for aspiring landlords provided they live in the residence. Apart from this, I obviously don't plan on using property management because of the costs associated and I would like to maximize earning potential to be able to purchase more properties. I would like any advice on the subject of house hacking and developing relationships in the industry in general, as well as self-managing property as a young person. Thank you in advance for your time and consideration! [link] [comments] |
| Using a HELOC or conventional Loan for Rental. Posted: 14 Mar 2020 06:48 AM PDT Hello everyone, I'm new to real estate investing. I'm currently own my primary residence, which value at $250k. No mortgage or student loan debt. I have some emergency fund set a side that I won't be touching. And I also have some liquidity for a 20% down payment. I've been looking at property under 200k with minimal rehab. With the housing market going the way they are at the moment what would be my best route to take.
Thought? [link] [comments] |
| How to get a full price offer accepted? Posted: 14 Mar 2020 05:27 AM PDT Finally saw a duplex that looked interesting in our local area, the numbers were marginal, but for the area, good, even at full price. So, we made an offer within an hour of listing (with a 24 hour expiration), at full price on Thursday. Minimal contingencies, fast close, large escrow deposit. Yay! Then ... nothing. I told our agent to get on the phone and find out what was going on. She did. The seller had a couple of other inquiries (not offers) who wanted to do a walk through first and is going to wait til Sunday before responding to our offer. Our offer has since expired. I've no doubt this duplex will sell quickly, everything else in the area has.It's a sellers market, if we made a full price offer, then maybe one of the others will offer more, and the seller could use our offer to their advantage. That makes sense to me. I'd likely do the same. But a bird on the hand is worth two in the bush, right? Are there other strategies you've used to make your offers more enticing? Are offer expirations effective? Is it common to set aside a day to show a rental prop to potential buyers? Seems very disruptive to current renters. I've more commonly seen walk through a happen once a buyer is under contract? [link] [comments] |
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