Real Estate Investing: Official Covid-19, Interest Rate, Stock Market and Real Estate Related Questions and Comments |
- Official Covid-19, Interest Rate, Stock Market and Real Estate Related Questions and Comments
- Please help me understand the relationship between the interest rate cut and mortgage rates.
- Hey mods can we get an interest thread tomorrow morning?
- Fed just lowered interest rates to 0-0.25%. Does any investor feel like this is a bad move for themselves?
- What is the appropriate etiquette when cold calling?
- So should I buy my next investment property now?
- Is there a public way to find people who are behind on property taxes?
- 1031 Exchange Extension - National Emergency?
- Residential / SFH price lag in past recessions
- Owner Occupied Loans
- Please give me some guidance -Short Term Rental
- What’s a good lowball offer (% of asking price) for a house that’s been on the market for more than 180 days?
- feds cut rates to 0 what does that mean for rates?
- Vacancies for 30 day minimum AirBnBs?
- Best way to track current mortgage rates (REFI rates)?
- What's the math behind cash out refinance into a second loan?
- What are the unique advantages of bidding for a house being listed as an estate sale?
- Shipping containers for storage/ garage?
- Thoughts on why interest rate cut now.
- When the rates were really low last week, how low did you lock it in ? And what points ?
- Deal Analysis/Update - Quadplex Owner Occupancy
- Thinking of making an offer tomorrow, but these markets have me second guessing it.
- Too soon?
- Advice Needed: What is my best option to leverage my home ownership for upgrading to a new house?
- What are your RE buying/selling strategies in this corona shitstorm?
| Official Covid-19, Interest Rate, Stock Market and Real Estate Related Questions and Comments Posted: 15 Mar 2020 08:20 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Please help me understand the relationship between the interest rate cut and mortgage rates. Posted: 15 Mar 2020 06:00 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Hey mods can we get an interest thread tomorrow morning? Posted: 15 Mar 2020 05:49 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Mar 2020 03:13 PM PDT Is anyone seeing this move as being negative for those borrowing money to buy properties?? or rather: Who, in the REI world, does this negatively affect?? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| What is the appropriate etiquette when cold calling? Posted: 15 Mar 2020 12:03 PM PDT Hi all -- I'm currently in my early twenties (a recently college graduate) looking to buy my first property in the Southern California market (to rent out and become cash flow positive). I strongly believe the way to succeed in a time like this is to find off-market properties. One method I have begun doing is to zoom in on an area, go on the Craigslist "Apt For Rent" section and look for posts with not a lot of effort put into them -- the type of properties that are owned by small investors or people who have an extra property. I then proceed to call them asking if they are looking to sell their property. Now I've done a few cold calls and they have gone fine, but I wan't to make sure my approach is optimized. What I currently do is basically tell them that I am a young real estate investor looking to jump into the market and then proceed to ask them if they are looking to sell their property. If they say no, I ask them if they have any additional properties they are looking to get rid of. I'm curious if it's a good idea to jump into the business side right away? Should I tell them that I'm young? Should I tell them that I intend to use their property as a rental property? Basically my questions is what information should I share on the call which will optimize my chances of them being open to talking to me and possibly selling their property. Any help is appreciated! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| So should I buy my next investment property now? Posted: 15 Mar 2020 04:05 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Is there a public way to find people who are behind on property taxes? Posted: 15 Mar 2020 09:38 PM PDT So I am looking to buy my first deal in Southern California. My goal is simple -- to be cash flow positive. Doing this is California is not that easy and a lot of the advice I heard has been to reach out to people -- call, email, send letters. I am more than happy to do this. Honestly, it sounds kind of fun to me. But my main question is where do I find people that I can reach out to? How do I find their numbers? Obviously I can't just knock on every door in Southern California. I've narrowed down my method to calling people who are behind on property taxes or mortgage payments -- this is the advice I've read online as it seems to be a common practice. Now where do I find these people? Is there a public record of everyone behind on housing payments because if so, I have not found it yet. I know it may be annoying to ask, but I honestly feel like I'm missing something and need a step by step guide on where to find properties/numbers to call. Basically I'm wondering where I can find information about people to cold call, email, visit, etc. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| 1031 Exchange Extension - National Emergency? Posted: 15 Mar 2020 07:42 PM PDT We just entered into a 1031 exchange and April 6 is our 45 day deadline. With this whole virus, I wanted to see if we could get an extension before identifying our properties in case everything goes down in price. Googling said that a disaster could extend the deadline for up to 120 days. Anyone think this Corona virus would count? This is the site I saw: https://atlas1031.com/blog/are-the-45-day-identification-and-180-day-exchange-periods-flexible-in-a-1031-exchange/ [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Residential / SFH price lag in past recessions Posted: 15 Mar 2020 12:30 PM PDT Is there any rule of thumb (or even better, clear data) showing insight into how residential home prices lag other financial assets in a recession, or less severe bull market, in the United States? As a practical example today - should the S&P pull into a correction (say -20% from recent highs) with high volatility for the next 6-12 months, would residential home prices be expected to fall quickly and stay there, or trend downwards over the next year (and possible beyond)? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Mar 2020 11:02 AM PDT Hey all, My goal at the end of the year is to purchase a multi-unit family home and rent one side out while living in the other. I was reading archived posts and came across one in regards to a loan type that was new to me. Does anyone on this reddit have any knowledge and/or experience with Owner Occupied Loans? Who offers the financial service? What should I expect while pursuing this loan? As always any information is good information! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Please give me some guidance -Short Term Rental Posted: 16 Mar 2020 12:37 AM PDT How about in areas that have historically been immune to recession proof that are basically all short term rental based? I am talking about places within driving distance of a large part of the country, year round visitation to the national parks etc? I was about to drop 165k on the down payment for a single close construction loan. The total cost would have been $750k and the builder is going to "include" 50k of furnishings in that. So $750k brand new home includes furnishings. It appraised on paper at 831k last week. Prior to this economic craziness the cash flow estimate on this was about $30,000 annually. I need help because I was supposed to make this decision this week. This is in the Pigeon Forge, TN area. Research showed even during last depression in 2008 - the parks still had a lot of visitors. But this virus thing is different, everything is shutting down. I know that part will be temporary - but the economics part can last longer. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Mar 2020 03:16 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| feds cut rates to 0 what does that mean for rates? Posted: 15 Mar 2020 02:05 PM PDT hey so if the feds cut it to 0 would that make mortgage rates much lower ? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Vacancies for 30 day minimum AirBnBs? Posted: 15 Mar 2020 09:19 PM PDT Anyone on here ever transitioned their airbnb to a 30 day minimum rental because of city regulations? What did that do to vacancy and overall revenue? Any insight is appreciated! [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Best way to track current mortgage rates (REFI rates)? Posted: 15 Mar 2020 05:32 PM PDT A few days ago I heard about interest rates on homes as low as 2.5%. Now I hear they went back up a point or more to 4%. I have a duplex with a ton of equity which I want to cash out REFI. Where online can I check mortgage prime interest rates daily/hourly? .... Last question. What are you guys seeing for mortgage interest rates at the moment (for residential owner occupant, and for residential investment) [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| What's the math behind cash out refinance into a second loan? Posted: 15 Mar 2020 09:09 PM PDT For example a property has 600K loans and 400K equity. I then cash out refinance and take out a 70/30 LTV loan on the 400K equity. My understanding is that my existing 600K loan balance would increase to 1M when I do a cash out refinance. Then with the new loan on 70/30 LTV I could get a loan of 900K on my 400K equity. Therefore my total loans would be the 1M plus 900K at 1.9M is that accurate? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| What are the unique advantages of bidding for a house being listed as an estate sale? Posted: 15 Mar 2020 03:10 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Shipping containers for storage/ garage? Posted: 15 Mar 2020 05:05 PM PDT I have read a little bit about people using shipping containers for garages and storage. Has anyone here done this? Any tips for finding the lowest cost containers? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Thoughts on why interest rate cut now. Posted: 15 Mar 2020 08:34 PM PDT Everyone is seeing this as the fed using the last bullet and is all out of ammo. However... what if they are close to a really solid response and a vaccine in the next few weeks and they want to keep the market on life-line and alive till such time as they announce. They used the last bullet because they see something positive around the corner, which they can't announce yet, but can take action to prevent an economic disaster. If the homeowners (200 B of MBS buying ) can refinance, they will be able to better weather the layoffs that are coming [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| When the rates were really low last week, how low did you lock it in ? And what points ? Posted: 15 Mar 2020 08:26 PM PDT | |||||||||||||||||||||||||||||||||||||||||
| Deal Analysis/Update - Quadplex Owner Occupancy Posted: 15 Mar 2020 07:25 PM PDT Hello All, I posted a deal analysis 6 months ago about a potential owner occupied deal (you can find it here). I ran the previously numbers based off my own assumptions and without the offer being on the MLS/talking to the owner. I recently reached out to the owner and she is willing to sell. Here is a new summary with the accurate numbers - Cost Summary:
Financing Assumptions:
PITI (Monthly):
Unit Summary:
Total Rent Owner Occupied: $2,450 Total Rent Not Owner Occupied: $3,100 Monthly Expense Assumptions:
So, my total monthly expenses would be $3,372 with my total rental income being $2,450, creating a negative cashflow of $922. My current rent payment is $1000, so I would be saving a little money there, while building equity, and gaining experience. Non-owner-occupancy would result in a negative monthly cashflow of $200. The catch here is that the units are significantly under priced and with some cosmetic upgrades that we would do mostly ourselves are looking at an additional $100-$200 extra in rent per unit. We are planning on doing all of the renovations in the first year, and with the new rents we'd be clearing about $550/month. Also once we save enough for CapEx we'd be sitting closer to $1k/month. Any thoughts? Planning on managing myself [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Thinking of making an offer tomorrow, but these markets have me second guessing it. Posted: 15 Mar 2020 07:20 PM PDT Located in Ontario Canada, looking at a purpose built duplex built in the 90s. Cash flow positive approximately 200 a month right now, rents need to be brought up which would make it 500-600 cash flow positive in a few years time. I am concerned though with all the talk of depression and shutdown if this will affect real estate prices? This market has picked up significantly, to the point where this duplex last year was likely worth 20-30% less. This market has lagged the remainder of the housing market in Ontario over the years though to be fair. My worry is I will be paying top dollar for an A location , A tenants and A rating building, and then the market takes a crap and it's worth 30-50% less in 6 months time. Anybody else experiencing similar worries putting in offers with the current state of affairs? The other side of me says buy it because if it's anything like recent times I'll be wishing I bought more back when they were cheaper, a couple years down the line. In terms of carrying it if shit hits the fan, if it's rented completely obviously not an issue, if one unit is vacant I'm looking at monthly carrying costs of 200-400 per month. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Mar 2020 07:10 PM PDT Is it just me or is this article too soon to publish? https://www.biggerpockets.com/blog/get-rich-next-recession?utm_source=newsletter We don't know how many other people will be affected by the virus, in fact some of our loved ones may be affected, may even die. We don't know. Looking at South Korea, and Italy things are going to change. But to have in the article "Help with the fallout from deaths." Granted it makes sense if an older person passes away, but I feel right now a lot of us are worried about our own older relatives passing away 10 to 20 years before we expected them to. I wish they would publish this article after the vaccine was found and this emergency was past instead of now trying to get some clicks. All of the points are valid, but now? [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| Advice Needed: What is my best option to leverage my home ownership for upgrading to a new house? Posted: 15 Mar 2020 07:02 PM PDT I fully own a 1BR condo in Manhattan that is currently being rented out. My wife and I are currently living with some family while I try to sell the condo once the lease is up. We're looking to move out to the burbs as space is an issue, and have found a house that we both love and want to put an offer in. The price we're hoping to get it for is about 90% of what I believe my Manhattan condo is worth. What's the best way for me to leverage my condo towards the purchase of the new home? In my ideal world, I'd be able to sell my condo shortly before the lease runs out or slightly after. I don't really have any interest in maintaining ownership in both. I was initially thinking of just getting a mortgage in the current environment but have read that I can get a better rate with a home equity loan or reverse mortgage. To be honest though, I don't fully understand either one. If one of those is indeed my best option, can someone please ELI5? Secondary question, should I really be proceeding with this in light of the current environment? A big part of me thinks I should wait, but I don't think this house will stay on the market for long, and my wife and I absolutely love it. Any and all advice is greatly appreciated. [link] [comments] | |||||||||||||||||||||||||||||||||||||||||
| What are your RE buying/selling strategies in this corona shitstorm? Posted: 15 Mar 2020 02:25 PM PDT |
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