Real Estate Investing: If tenant stop paying rent and I cant evict them, what do I do? |
- If tenant stop paying rent and I cant evict them, what do I do?
- Need help with potential triplex closing this week
- During the pandemic, which tenants are more stable - section 8 or ‘regular’?
- A good first investment property?
- How do you value a ground up construction hotel/multi-family at completion?
- Notary and social distancing
- Broker w/ Investment Twist
- Economic Impact of Coronavirus on the Real Estate Market by Dr. Marci Rossell
- Pros/cons of “line of credit” from discount brokers?
- Did they stop all foreclosure processes? At least in California...
- New Investor. How do you determine what is a good deal for rental properties?
- FRED Graph Suggesting that RE Market may not be effected? Thoughts?
- homestead preventing rental income
- What's going to happen to the real estate market with the Coronavirus and after?
- Is this an acceptable way for a landlord to act?
| If tenant stop paying rent and I cant evict them, what do I do? Posted: 22 Mar 2020 11:48 AM PDT with the outbreak of Covid19, the premier of my province in Ontario Canada just announced that if you cant afford rent due to Covid19 you cant get evicted. Who is going to foot the bill? Any Canadian landlords worried? any solutions? [link] [comments] |
| Need help with potential triplex closing this week Posted: 22 Mar 2020 07:08 PM PDT I'm supposed to close on a triplex in a high rent area this week. I am seriously reconsidering everything. I only have a nominal amount of money in earnest $5,000 and the down payment is $150,000. Anyone have creative ideas to get out of closing or have legal advice to cancel the purchase? I'm post inspection period and post appraisal. A couple things: I've noticed that the appraisal lists the property as an 8 BR when it's actually a 7 BR by the city and code. The extra bedroom is just the basement that is currently being used as a a bedroom. [link] [comments] |
| During the pandemic, which tenants are more stable - section 8 or ‘regular’? Posted: 22 Mar 2020 05:23 PM PDT Hoping for some advice during this unsettled time. I have two rental properties. One in IL is rented to section 8 tenants. Govt. assistance pays for maybe 70% of their rent. My other tenant, in another state, is not section 8. What happens if the section 8 tenant can't make his 30% of the rent? I'm planning on being fair to them both - and sympathetic. But what are the logistics here? Regarding both tenants, what is the appropriate way to help them during this time? Payment plan? [link] [comments] |
| A good first investment property? Posted: 23 Mar 2020 12:52 AM PDT [28 M] (Edmonton, Canada) Currently work full time and live with a roommate, with monthly take home of about 2k and about 15k in savings. Really looking to make some investments (with at least some of the money while keeping the rest in the emergency fund), rather than have the money sit at a 10% a year in an ETF, so thinking of getting into real estate, specifically getting an investment rental property. Having looked around at a few low cost properties in my area, found what seem to be quite an affordable way to get an investment property and generate a little extra income on the side/gain equity. Specifically found a few single family units (2-3 bedrooms) for under 30-40k, which seem like a steal, for example : https://www.realtor.ca/real-estate/21643899/30-west-view-bv-nw-edmonton-westview-village So having calculated the mortgage on it (with a 5 year amortization), with utilities/fees, it would come down to about $700 monthly all in, for this 3 bedroom single family unit. And imo, renting out a 3 bedroom unit of this kind , shouldn't bring less than 1000 a month.. Quite new to real estate, but was thinking something really low cost would be a good way to try it out and get in the game.
Thank you for any advice! [link] [comments] |
| How do you value a ground up construction hotel/multi-family at completion? Posted: 22 Mar 2020 08:28 PM PDT So I know how to value a property through the income approach so stabilized properties are no big deal. I know how to calculate a ground up new hotel or multi-family when it reaches stabilization but how do you value a project that is complete but has no cash flow? Is it just the costs that went into the project? [link] [comments] |
| Posted: 22 Mar 2020 03:04 PM PDT I am in the bay area, sheltering in place. I need to notarize some documents and have my in-laws sign. They are two counties away. I don't foresee being in the same room as my in-laws for a while. Thoughts? Have you heard of laws changing? Notaries who travel and maintain social distancing? Thanks. [link] [comments] |
| Posted: 22 Mar 2020 10:08 PM PDT How to find a Real Estate Broker with experience in Real Estate Investing? Recently got my Real Estate license in the North East for the express purpose of getting my feet wet in Real Estate investing. Salesmen need to work under a Broker for a set number of years before becoming a Broker of course and it would make sense to find a mentor who can help with the mission. Tools, knowledge, professional connections, etc. Strategy ideas of how to find a Broker with experience in the investing side of Real Estate? [link] [comments] |
| Economic Impact of Coronavirus on the Real Estate Market by Dr. Marci Rossell Posted: 22 Mar 2020 08:32 PM PDT Five minute video by Dr. Marci Rossell - Economist. Watch and Discuss: https://vimeo.com/397305044 [link] [comments] |
| Pros/cons of “line of credit” from discount brokers? Posted: 22 Mar 2020 02:01 PM PDT Planning to build a granny unit in the backyard and need to borrow money for that. Debating between Heloc vs. "line of credit" from discount brokers (like E*TRADE, where my assets are). Does anyone know pros/cons of line of credit from brokers? Their rates appears to be lower than helocs. Thanks. [link] [comments] |
| Did they stop all foreclosure processes? At least in California... Posted: 22 Mar 2020 03:47 PM PDT I remember listening to to either the governor or the mayor of Los Angeles say that all foreclosure Processes have been Halted until further notice can anyone verify this? I really haven't found anything online.... Also, since there maybe loans that are issued out of state would that not make a difference? I would imagine sites like auction.com being impacted by such an order. [link] [comments] |
| New Investor. How do you determine what is a good deal for rental properties? Posted: 22 Mar 2020 07:19 PM PDT Hi. New investor here in the MW. I'm currently working with a realtor on purchasing a rental property. I've been reading up on Biggerpockets and posts on this sub. My realtor seems to have different views on the type of home, metrics, and financing when looking at homes. I'm not saying he's wrong since I know there are multiple ways to go about REI. I brought up the 1% rule and 50% rule but my realtor says to not go by those metrics because I will be losing out on other potential properties. He's big on appreciation so the properties we've looked at are in more desirable areas of the city and suburbs. These homes have much higher asking prices and are more turnkey ready. The homes that I was looking at were more for doing BRRRRs and in way less desirable areas of the city and do not appreciate all that much. He also keeps telling me to go with FHA instead of conventional. I have enough to do a conventional loan but again he's big on using less money out of pocket. I'm not sure if I'm wrong but every time I run the numbers, the conventional financing seems better. Is my realtor leading me in the right direction? What metrics or factors do you use to help you choose one property over another? [link] [comments] |
| FRED Graph Suggesting that RE Market may not be effected? Thoughts? Posted: 22 Mar 2020 02:38 PM PDT This graph suggests that the real estate market survived previous recessions, with the exception of the 08-09 recession that was directly related to the mortgage bubble/volatile housing market. Thoughts? [link] [comments] |
| homestead preventing rental income Posted: 22 Mar 2020 12:31 PM PDT I have $140k to invest from a sale via 1031 exchange. I currently own another home with homestead exemption on the books (Texas). however, I live overseas and I rent that house out. It's my US address that I've used for 15 years. They aren't counting the rental income from the homestead house but they are also counting my $2500 rent overseas against my ratios. So basically they have me down for $5000 in combined rent in spite of paying taxes on the homestead house rent for 15 years. Any options for obtaining financing. They are basically saying I have to pay cash and can't re-leverage. I'm happy to sell the homestead house but it will take time. Even removing the homestead exemption will take a year... trying to get something lined up within 30 days to be able to use the 1031 money... [link] [comments] |
| What's going to happen to the real estate market with the Coronavirus and after? Posted: 22 Mar 2020 06:42 PM PDT |
| Is this an acceptable way for a landlord to act? Posted: 22 Mar 2020 05:23 PM PDT Ben Mallah posted this on twitter. He's mocking people who are actually affected by this virus. While enjoying his mansion's lazy river, his tenants are stressing, trying to figure out how to come up with the money to pay him. I think this is despicable. What do you guys think? [link] [comments] |
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