Real Estate Investing: TIL: The $243.2B California Teachers Retirement Pension (CalSTRS) second-largest investment is Real Estate, including a massive multi-family apartment rental portfolio. |
- TIL: The $243.2B California Teachers Retirement Pension (CalSTRS) second-largest investment is Real Estate, including a massive multi-family apartment rental portfolio.
- does the stimulus bill have anything for landlords ?
- Very Grateful to be here
- What are your thoughts on $200 background check per person?
- Typical down payment for rental investment
- Conventional loan rules changing....FHA?
- Books: Equity/Debt Related books in RE
- For those holding on buying RE right now, what criteria will you use to determine when to get back in the market?
- Tenant Requesting Ending Lease
- First Duplux: Renter Demand with Coronavirus
- r/landlord went private? Can I get in or what?
- Eviction prohibition may create a 2 year wait for an eviction hearing.
- Anyone else walk away from. A deal recently?
- Please help me evaluate this investment
- Buying a house
- Appraisal came back on a COREFI. It came back lower than the original appraisal.
- First Deal - $410k Duplex Wisconsin
- will i be evicted for not paying rent, since I am out of work until all of this is over?
- What happened to this sub in the past week?
- My tenant might take advantage of me
- 120 Day Eviction Moratorium in the CARES Act
- Question on Homeowner's Insurance
| Posted: 27 Mar 2020 08:29 AM PDT For all the new visiting troll accounts: Those rent payments are (were) helping pay school teachers' retirement. [link] [comments] |
| does the stimulus bill have anything for landlords ? Posted: 27 Mar 2020 08:31 PM PDT Loans are drying up. So if tenants stop paying nothing to stop foreclosures... Edit: I dont mean this month or next. i mean when this hits full force- and people run out of reserves.... i am terrified [link] [comments] |
| Posted: 28 Mar 2020 02:37 AM PDT I'm super excited that I have found this page. There is a plethora of information to be read on here, and many brains to be picked! I have my ambitions with realestate investing, but while I live here in Hawaii, I will be buying my house first. Until then, I will be educated myself on the investing process, hoping to expand into Texas, Alabama, and Georgia(home state). Hope everybody has a great day! [link] [comments] |
| What are your thoughts on $200 background check per person? Posted: 28 Mar 2020 01:19 AM PDT |
| Typical down payment for rental investment Posted: 27 Mar 2020 08:25 PM PDT So typically I have assumed down payments for rental properties are around 20%, but through a little internet research have seen that some investors buy for as low as 4% down. How is this possible? My wife and I are planning to begin buying properties in the near future, and have been saving up. The difference between 20% and 4% is obviously massive and would allow us to pick up many more properties than we originally intended. Using our LLC we ideally wanted to purchase within a year or so, but given the current climate we'll see how that pans out. Any advice greatly appreciated Thanks. [link] [comments] |
| Conventional loan rules changing....FHA? Posted: 27 Mar 2020 07:03 AM PDT We were putting an offer down on a property this week and our mortgage broker gave us a call to tell us that we cannot use the rental income towards our debt to income. He stated that with the pandemic they are not allowing people to use projected rental income. He is trying to get us some more concrete literature on this. Figured I would turn to the REI gods on reddit and get your input. Also told me that it looks like they could be putting a hold on FHA loans as well..... Thoughts? Anyone else run into this?? [link] [comments] |
| Books: Equity/Debt Related books in RE Posted: 27 Mar 2020 11:17 PM PDT Any suggestions for books to get more informed about equity and debts when looking at deal structures and such. Thanks [link] [comments] |
| Posted: 27 Mar 2020 08:58 AM PDT Right now what's holding me back is the day to day changes coming from lenders and rates. I'm also waiting for the RE market to catch up with the economy in 3-6 months before making a true assessment of where I stand. My projected finances have also changed this year, so I need to wait until I have a better idea of where I stand before I start investing my savings, which I also anticipate will take 3-6 months. [link] [comments] |
| Tenant Requesting Ending Lease Posted: 27 Mar 2020 10:53 PM PDT Hi, Need some advice, my tenant wishes to end his lease (he has been with me for 2 years and just signed his 3rd year he is not even one month in yet) He is probably moving to another state for reasons not related to the virus. I have been charging him below market price because he was a low maintenance decently on time tenant. I think I will let him break the lease but I told him I want someone to fill up his lease. For the requirement of the new lease to the new tenant should I be asking for the market price? or should I be giving the new tenant the same discount that I have been giving the old tenant? Also, should I be requesting a new 1-year lease? or do I just let the new tenant fill the remaining 11 ish month left on the lease? Also my contract states he cannot end the lease if he wishes to end the lease he needs to pay the remainder of the lease (Which I won't be holding him to, all I will do as penalty is see if there are any repairs needed and take it out of the deposit [again probably won't be needing to do because he is a rather good tenant]) [link] [comments] |
| First Duplux: Renter Demand with Coronavirus Posted: 27 Mar 2020 10:20 PM PDT Ok So I went under contract on my first home (A Duplex) just a few days before everything started to hit the fan in connection with the coronavirus. My job is secure, however, I'm not currently earning until everything starts opening up again and people start leaving their homes as I do contractor work and no one wants contractors in their homes right now. The closing date is scheduled for the end of May. The numbers all make sense for the property, I feel it's a solid investment with cash flow once I move out of the side I'll be living on in 3-5 years. However, my biggest concern is in the short term and finding a renter. I'm in NJ, it's a smaller town but typically it's a solid market. However, with everything going on currently, do you think I'll have a hard time filling the vacancy? Do you think by June we'll start seeing an influx of new renters looking to find a place? Obviously I've never dealt with renting a property before either, so I don't know how the typical demand is compared to what we're facing right now. I'm super stressed about getting into this home, not making my normal amount of income, and on top of that dealing with filling this vacancy. Would it be smart to hold off until the economy starts moving again or do you think the timing of close might just work out alright and there will be people looking by the time June rolls around? [link] [comments] |
| r/landlord went private? Can I get in or what? Posted: 27 Mar 2020 10:17 PM PDT I understand there are trolls about, but now is the time we need advice and support. [link] [comments] |
| Eviction prohibition may create a 2 year wait for an eviction hearing. Posted: 27 Mar 2020 11:39 AM PDT In other news, renter advocacy group "Keep your Rent" "not advising people stop paying their rent". [link] [comments] |
| Anyone else walk away from. A deal recently? Posted: 27 Mar 2020 09:21 PM PDT we were looking at our 2nd investment home. Subjects were still in play for 6 weeks with multiple extensions as owner was adressing some oil tank issues. We Walked away this week due to what's going on and the potential impact in getting tenants/house prices in the future wondering if anyone else made similar decision [link] [comments] |
| Please help me evaluate this investment Posted: 27 Mar 2020 09:02 PM PDT I am hoping to become a real estate investor in the near future. I have been reading a lot of the posts and watching videos about some do's and don'ts of RE investing. For the past 2 weeks, I have been trying to analyse cash-on-cash returns for some recent multi-family listings on websites. I have come across this listing recently for a MF property in Milwaukee, WI with the following details: (Can I quote a MLS or a link in these forums? Not sure. If anyone can confirm, I will post the link/MLS). 8 1 bed/1 bath brick built in 1928, renovated (not sure of the year) , fetching $600 per month per unit for a list price of $320,000. Tax is listed as $495. When I run the numbers, I input these values:
I get these returns values:
I am not fully convinced I got the numbers correct. What input am I getting wrong? I tried to evaluate what could be the reason for the low list price compared to the rental income. I could come up with these reasons.
Interested to know your thoughts about this. [link] [comments] |
| Posted: 27 Mar 2020 11:50 PM PDT My dad is looking to buy a house in cash. 1-2m in California. I've looked around and it seems like the housing market hasn't really been hit by COVID-19? Any reason for this? Any advice regarding when my dad should buy a house? This is a house to live in, not to be a landlord for. (He's moving to the states). He isn't in a rush to buy a house but rather more concerned with getting a good deal. Take it easy with the comments pls, first post and don't know much about real estate. [link] [comments] |
| Appraisal came back on a COREFI. It came back lower than the original appraisal. Posted: 27 Mar 2020 06:27 PM PDT I had an appraisal on my first rental property. I bought in July 2019. I bought it for $87,000 and it appraised for $110,000 We put new floors, new bathroom and new kitchen and a few other things, like lights, outlets and electrical throughout the whole house. Roughly 20k in improvements. The appraisal came back and the new appraiser said it's now worth 103k. Has anyone else had something like this happen? Anything I can do? Encouraging words... lol [link] [comments] |
| First Deal - $410k Duplex Wisconsin Posted: 27 Mar 2020 10:32 AM PDT Hello, long time lurker here. I am in talks with a family friend about purchasing a duplex. I would love some feedback/thoughts from you awesome people. I would be living in one side while renting the other side. Details of the deal: Purchase price: $410,000 Loan: 10% down 30 years around @ 3.125% closing cost: $3,000 Total cash needed: $44,000 ----------------------------------------------- Rent: Rent: $1,500 per side ($3,000 total) ----------------------------------------------- Operating expenses: Principal & Interest: $1,581/mo PMI: $181/mo Taxes: $690/mo Insurance: $144/mo Property Management: $0/mo Maintenance: $100/mo Capex (5% rent): $150/mo Vacancy (5% rent): $150/mo ----------------------------------------- Total Operating Expenses: $2,996 Rent: $3,000 Cash Flow: $4.00 ------------------------------------------ Any feedback would be much appreciated as I am going through analysis paralysis. Thanks! [link] [comments] |
| will i be evicted for not paying rent, since I am out of work until all of this is over? Posted: 27 Mar 2020 09:46 AM PDT I live in north carolina and I lost both of my jobs last week. I am currently seeking any means of income, but my rent is due on april 5th. I have a savings, but I can not justify spending my entire savings on rent, while having no job. I live in a pretty large apartment complex ran by a realty company. any advice or peace of mind is appreciated [link] [comments] |
| What happened to this sub in the past week? Posted: 27 Mar 2020 05:05 PM PDT I haven't been here since a month ago but it seems it's now filled with trolls attacking real estate investing and half of the people talking about how bad leverage is. What the hell happened to this sub? [link] [comments] |
| My tenant might take advantage of me Posted: 27 Mar 2020 10:11 PM PDT Need advice. I have a shady tenant...he hasnt missed rent yet. But has been consistently late. I make him pats late fees which he does...but I have a feeling he might try to not pay and take advantage of the covid eviction laws that came into effect. His wife is a nurse and he makes custom swing sets with a company. But based on his wife's nursing job they should be ok to pay rent. How would you all approach this if he were to say oh hey I'm effected by this and can't pay rent? [link] [comments] |
| 120 Day Eviction Moratorium in the CARES Act Posted: 27 Mar 2020 08:32 AM PDT I wanted to call your attention to a specific section in the CARES Act that will affect all landlords with a "covered property." The Act is expected to pass the House "as-is" so I feel comfortable sharing now. This is Sec. 4024 "Temporary Moratorium on Eviction Filings" in the current bill. If your property is considered a "covered property" you will not be able to evict your tenants, or charge fees, for non-payment of rent or partial rent for a period of 120 days after the passage of the Act. You will also not be able to issue a notice to vacate until after the 120 day period has passed. Your notice to vacate is required to be a minimum 30-day notice. So if you have a covered property, you're stuck with your tenants for 150 days.
[link] [comments] |
| Question on Homeowner's Insurance Posted: 27 Mar 2020 02:39 PM PDT Quick background: I own all my units in cash and plan to refinance once COVID-19 blows over I currently have a policy on each property the pays out on an Actual Cash Value basis. Coverage limit is based off of the purchase price. My average premium is roughly $1500 per property with a $1000 deductible. However, a buddy of mine recently had an electrical fire and his whole investment burned to the ground, so now I'm thinking I should have better coverage, but it's rather expensive where claims are paid on a replacement cost basis which would run about $2650 As far as I understand it, my policy would cover a lot of the cost of replacing things like a roof or damage from natural disaster or fire etc... but not 100% whereas the replacement cost policy would simply cover all costs at the expense of devouring my cashflow. I'm just wondering what most people have and what someone would recommend? [link] [comments] |
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