Real Estate Investing: America's Largest Bank, JPMorgan Chase, Prepares For A Massive Round Of Defaults |
- America's Largest Bank, JPMorgan Chase, Prepares For A Massive Round Of Defaults
- PSA: For those being bombarded by scam DMs, This little flag icon is how you report them.
- Flea Infestation
- 1031 Exchange/ Capital Gains Question for Changing a Rental into a Rental + Personal Residence
- Is there an easy way to pull Airbnb rental addresses?
- County/City Value Assessment vs Market Price
- Moving out of duplex househack before one year
- LLC SBA Payroll protection
- Chalet Properties
- Landlord book recommendations
- Need Guidance on Refinance/Rental Prop!
- 1031 tax exchange can become a trap if too much leverage
- New Investor Stumbled Upon Coaching Program -- Need Help/Feedback
- Question about lines of credit
- How to efficiently find tenants during COVID?
- Depreciation Question
- Best apps for finding deals?
| America's Largest Bank, JPMorgan Chase, Prepares For A Massive Round Of Defaults Posted: 14 Apr 2020 08:44 AM PDT Chase and WF are thinking there will be a lot of defaults [link] [comments] |
| PSA: For those being bombarded by scam DMs, This little flag icon is how you report them. Posted: 14 Apr 2020 08:38 PM PDT I've received a lot of these the past few weeks. But if we all mass report them, they will go away. If you take a look at their history, it takes work for them to build karma. They have to spend a lot of time in karma subs. [link] [comments] |
| Posted: 14 Apr 2020 09:18 PM PDT Just had a tenant move in today to one of my newly purchased rentals. Last tenant (placed by the old owner) had an outside dog and I assume it had fleas so the yard is just hopping with them. Inside doesn't seem to be much of an issue (yet). I have the exterminator coming out tomorrow, I'm calling animal control to see about having them trap a couple of feral cats I've seen around the neighborhood, anything else I can be doing to resolve this? How would you communicate with the tenant on this? Imo that's a bad first day and I want to do everything I can to make sure it gets corrected. At the same time, I can't politely ask the fleas to leave and have this be resolved, so I may need some patience from the tenant. [link] [comments] |
| 1031 Exchange/ Capital Gains Question for Changing a Rental into a Rental + Personal Residence Posted: 14 Apr 2020 06:53 AM PDT First time posting, and if this post isn't allowed, please feel free to delete it: So my mother and I have an LLC that currently owns 2 residential rental properties, both bought in cash. We are looking to sell one of those properties and turn it into another rental (or 2) via a 1031 exchange. That is the straightforward part. In parallel, I am looking to buy a personal residence and raise some funds for a down payment in a HCOL area. Would it be possible to take some of the cash from the sale, turn around and use it for a down payment on a place, and rent the house to my girlfriend (soon to be fiance). Will we face some tax repercussions sometime in the future when we get married (~2.5 years)? Is any of this allowed? Thanks for your help! Edit: spelling [link] [comments] |
| Is there an easy way to pull Airbnb rental addresses? Posted: 14 Apr 2020 05:24 PM PDT Anyone know how I can pull a list of all Airbnb rentals in my area, either by city or zip? Does a resource like that exist? [link] [comments] |
| County/City Value Assessment vs Market Price Posted: 14 Apr 2020 11:05 PM PDT How many of you find it reliable to use the County/City Assessment (for the purpose of tax calculation) versus the current list price to determine whether or not you're getting a good deal? E.g. the closer the list/sales price is to the assessed price, the better the deal. Kinda of self explanatory and duh in theory but in practice have any of you run into issues with this methodology? Any caveats? [link] [comments] |
| Moving out of duplex househack before one year Posted: 14 Apr 2020 12:00 PM PDT SO and I decided to househack late last year and moved into a property in late January. We're loving it, going really well. Anyways, I potentially have a job offer coming up that is out of state and I'm curious what my options might be. I know technically were supposed to maintain this as our personal residence (due to this being a primary residence mortgage), but what happens if I get a job? Obviously telling my lender nothing is an option, but I'd prefer to be 100% above board. Would we be forced to refinance in this situation? Does anyone have experience with this? [link] [comments] |
| Posted: 14 Apr 2020 09:31 PM PDT Have a commercial real estate property that is NNN minus sewer looking to see what I can receive that will be forgiven under payroll protection not sure if tenant can make rent going forward [link] [comments] |
| Posted: 14 Apr 2020 09:29 PM PDT So my question is towards chalet properties. If bought a modern one at a very good price, that doesn't require fixing, how good of an asset can it be ? Would listing it on Airbnb or Vrbo be a good way to earn passive income & build a portfolio ? Thank you in advance. [link] [comments] |
| Posted: 14 Apr 2020 02:28 PM PDT I'm reading through the managing rentals book by bigger pockets right now, but looking for more opinions and methods. The list on amazon is spotty when i search there, so does anyone have any recommendations on books/resources they've read? [link] [comments] |
| Need Guidance on Refinance/Rental Prop! Posted: 14 Apr 2020 08:55 AM PDT I'll try to make this as brief as I can: I'm very confused on what to do with my current property. Right now, I own only one property which is my primary residence. $255k price, I put down 20%, and have a 3.75% interest rate, been living there since 2016. My two biggest questions about this residence is: 1) Do I keep it as a rental when moving out? The plan is to stay put for about 5 more years and then move into a forever home. My calculations show that after all said and done (capex, PM, rent, etc), I would lose ~$12/mo for a $1750/mo rent (not including tax benefits etc). The location, in South Baltimore City, Maryland, is what I believe to be a long-term investment. I can throw a stone to a construction zone where a 267-unit apartments with a 367-car garage is being developed, among other construction.. not to mention a 235-acre, urban revitalization project not even a mile down the road. Speculation, yes, but I think this would drive value up in the long-term, so I would look at the loss as a longer-term investment if the $255k value turns into something like $355k. This ties into my next question... However, if I do keep it as a rental, 2) do I refinance since rates are low, for a target 3% rate, and refi into a 30 year fixed and pay the new, lower monthly payment so that the rental cash flows, but miss out on the interest savings? Or, refi but pay the old monthly rate to save on interest, but lose on cash flow? I have found that if we sell now, and move within 5 years, the refi would not be worth it, so this question is only relevant if I keep as a rental. I'm all for saving in the long-term and I like to weigh my options to be sure I am not missing out on savings here. I'm driving myself crazy trying to figure it out because I'm not a math person and feel like there are many scenarios here (maybe there aren't, but I keep asking myself "what if", like "what if I put that money in the stock market" or "what if I sold and found another cash flow property elsewhere as leverage" etc etc). [link] [comments] |
| 1031 tax exchange can become a trap if too much leverage Posted: 14 Apr 2020 09:53 AM PDT In December 2018 we had 1)2BR/2FB with $500K mortgage 2)1BR with $150K mortgage 3)2-unit TH with $600K mortgage 4)4-unit with $1200K mortgage 5)Mixed-use property $290K mortgage 6)HELOC $360K 7) OVERDRAFT $25k Total debt $3100K + credit cards All our properties were rented but #1 was generating a small loss. The $3850 rent didn't cover the $4050 costs including HOA. And we had a very high credit limit utilization which is bad for credit score (CCards + Overdraft + HELOC maxed out) So I decided I should finally listen to my husband and get out of debt. I thought: we'll sell everything and buy smaller properties cash only. But when I look closely at the 1031 rules you CAN'T get out of debt. The IRS requires that the replacement property be of equal or more value. They don't care LTV composition. So in our case the only solution was to decide to use some of the properties for 1031 and in others not do a 1031 and pay taxes. The capital gains rate is only 15% under $420,000 in our case. The catch is that all the depreciation that has lowered your taxable income comes back to bite. The longer you have had the property the less is its Adjusted Basis. We sold #1 and with the proceeds payed off $40K in credit card debt + $25K overdraft.. Our credit scores improved at least 50+ points. We paid $15, 000 capital gains $100K profit Then we sold #2 and since that property was held for 7 years and value was the same we only paid $2000 in capital gains. With the proceeds from both sales we had $180K for condo down payment (we moved into so not an investment property) We were immensely lucky. #3 was a TH I purchased in 2014 and turned into 2-unit with new baths and kitchens. But because it had a slightly crooked stair it took over 1 year on the market. In the meantime I made tons of money with both units as Airbnb. In Feb 2020 Airbnb was slow so put in new stairs at cost of $11,000. That same week got a great offer close to full list price. Settled March 6th, days before the shut down. Capital gain taxes of $20,000 With the proceeds paid off HELOC IF I HADN'T SOLD THAT TH: I would still have $4050 mortgage + $2450 HELOC monthly payments with no income from Airbnb. A miracle and a warning call. We now still have $1,5M in debt but with 7 potential tenants and 3 vacant (Airbnb) we can still pay our debts. We plan to use 1031 when we sell the 4-unit because that property is a condo-conversion and will have huge capital gain taxes so 1031 or partial 1031. I got a great offer for #5 on March 6th and couldn't believe our luck but that deal fell apart until the dust settles. The gist of this post is that we gladly paid $37,000 to not be obligated to reinvest $2,520,000 ($850K (#1) +420K (#2) +1250K (#3)). These $2.5M had $1.2M in debt (50% LTV). [link] [comments] |
| New Investor Stumbled Upon Coaching Program -- Need Help/Feedback Posted: 14 Apr 2020 04:53 PM PDT I am new to the real estate investing world. I have been trying to educate myself aggressively these past few months -- reading books, listening to podcasts & networking aggressively. Though i'm yet to have anything under contract. I'm trying to scope the MLS daily and evaluate prospective deals. I have connected with someone in my local market who has done very well for himself as RE investor. He has nearly 1,000 doors in his portfolio. He's been featured on a number of podcasts & i have listened to all of them for their posted on his website. I reached out to connect and have done a couple of zoom calls and talked. Yesterday he asked me if i'm interested in a 6-month, $4,000 coaching program. This wasn't something i was initially considering, but i'm surprisingly intrigued due to the success this gentleman has had over the past twenty years. I'm mulling the cost-benefit analysis of a program like this -- and i feel incredibly conflicted. [link] [comments] |
| Question about lines of credit Posted: 14 Apr 2020 12:18 PM PDT I'm approaching the real estate investing field with not much capital (less than 30k) so I know that limits my buying power, but I can't get over this fear of getting credit to pay for properties. For those of you who use leverage to secure properties, why did you choose that choice and how did you overcome the initial fear of debt? For those of you who use your own money, why did you go that route? And how is the experience different? I'd like 100% equity in everything I do so that I can maximize profits without involving an institution, but I know this route is much more difficult. I just really want to be the person that's living in debt. [link] [comments] |
| How to efficiently find tenants during COVID? Posted: 14 Apr 2020 01:41 PM PDT Had a tenant put in their 30-day notice at the end of February and now have a vacant unit on my hands during the COVID pandemic. As of now, getting interest has not been an issue and I have shown the apartment to a handful of people already. Unfortunately though, due to COVID, I have had to schedule the showings one by one instead of efficiently doing one giant open house and getting the added benefit driving perceived demand. Thoughts on how to get around this and also avoiding no shows? Should I still do an open house and just have people wait outside the unit 1 by 1 to drive hype and save time? I also want to avoid no shows if possible. Thoughts? [link] [comments] |
| Posted: 14 Apr 2020 07:40 AM PDT How is depreciation accounted for when building out a model for a potential duplex acquisition? [link] [comments] |
| Posted: 14 Apr 2020 05:02 AM PDT Anyone have recommended apps or programs for finding deals in markets? Obviously nothing beats real relationships with brokers and of course the MLS but I'm looking to bulk up my tech stack if there's something else then can help me vet and discover deals. [link] [comments] |
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