Real Estate Investing: Coronavirus is crushing US homebuilding |
- Coronavirus is crushing US homebuilding
- 45k in cash & 100k in home equity - how should I proceed with my first cash flow property?
- Should I Invest in a College Town?
- So, 203(k) mortgages.....
- Considering Selling Our Townhome in Atlanta - What Would You Do?
- How do you run the numbers when you use a HELOC to buy and rehab with the intention of refinancing and renting?
- FHA question, if I move myself, but not my wife/kids across town, can I use an FHA loan?
- What is the best Chase business credit card for rental real estate LLC?
- LTV Question
- ELI5 Compound returns and real estate investing?
- Can I, as a non-licensed person, have an ownership interest in a boutique brokerage firm?
- What compounded rate of return are you guys achieving?
- Quick LLC question
- How to share ownership of a rental property?
- Out Of State Property
- How will COVID-19 impact NYC (all 5 boroughs) cap rates?
- How Can I?
- What’s the best way to get a start?
- How to manage an offer on a plot of land I own?
- Current property mgmt software reviews/thoughts
- Is this feasible?
- Am I missing something here?
- Househack 4plex for 470k with FHA loan, each unit rents at 900, worth it or no?
| Coronavirus is crushing US homebuilding Posted: 16 Apr 2020 10:57 AM PDT https://www.cnn.com/2020/04/16/economy/housing-starts-march-coronavirus/index.html So this means less supply of new homes. What does this spell for values on existing homes? Possibly may mean they increase if there's still buying demand and now supply is constrained. But th8en factor in the tighter lending requirements announced over the last week and this will also restrict who can be a buyer. [link] [comments] |
| 45k in cash & 100k in home equity - how should I proceed with my first cash flow property? Posted: 16 Apr 2020 08:32 AM PDT Hello! I'm on the fence to what is the best/profitable route to start building my portfolio. I'm looking at two types of properties:
Thoughts? [link] [comments] |
| Should I Invest in a College Town? Posted: 16 Apr 2020 03:00 PM PDT I am currently 22 years old and about to graduate college. Thanks to so previous business ventures, I am currently sitting at a networth of around 275k. I was bored and looking at houses in the University neighborhood I'm currently in and saw two houses that really caught my eye. They are about a 5-10 minute walk away from campus, and are about a block away from the big party street (hoping this will save me from rambunctious tenants) After looking at the numbers, I could afford to buy one of these houses outright, and put 20% down on the cheaper of the two. This being said, I know I won't be able to rent the houses out for a full year as most students already have housing for next year (I'll still market a little but assuming the worst). After I take care of all costs, taxes, mortgage, etc. I would have around $15,000 left in my bank by the time I was able to start filling tenants. My question is am I being to optimist? I've renting in this same exact neighborhood for the last two years and I know how much rent goes for. Assuming that I am able to fill 9 tenants every single year, I'll be able to pay the second house off in about 9.5 years and would eventually want to get more houses. Am I missing some part of this? I would like to look at and speak with the realtors, try to negotiate prices, and take a look at the houses to get a better idea of what I'm looking at. When it comes to repairs, I am really handy. My father was a contractor and I learned everything from him. Most repairs, painting, general "fixing up" I would be able to handle myself. Is both houses a bad idea? Should I just go for one? Is this whole plan stupid? I would love to be able to hear advice from people who actually do things like this, and if a college town is just too risky of an area. [link] [comments] |
| Posted: 16 Apr 2020 07:54 PM PDT Does anyone have any experience in these? What hoops do you think were added or was the process simple? I am also curious how much the renovation monies will need to increase the property value to make it worth it, I'm guessing at LEAST the interest rate to break even. [link] [comments] |
| Considering Selling Our Townhome in Atlanta - What Would You Do? Posted: 16 Apr 2020 07:17 PM PDT Beginner real estate investor here who would love your thoughts on our situation. We are debating whether to sell our townhome in a large metropolitan area (Atlanta), and are considering buying one SFH for ourselves, and another SFH as an investment within the next year or so. After selling our townhome, we are hopeful to have $120-130k for buying two SFHs. Our motivation to sell is for us to upgrade to a SFH which will appreciate better than our townhome, and we are hoping we can get a good deal (or two) on a SFH in the upcoming months. We have a 2 year old baby, another on the way, and we are grateful to have stable jobs. My question for you is if you were in our shoes, how would you play your cards to given the uncertainty with the housing market, and the anticipated economic fallout from the pandemic? Do you perceive our plan to buy two SFHs a risky move right now (assuming all of our other finances are in good order)? We like our real estate agent but it's hard to tell if he has our best interest at heart. Appreciate any tips on navigating the uncertainty while buying and selling right now, we'd like to avoid any financial landmines. Thank you so much. [link] [comments] |
| Posted: 16 Apr 2020 08:59 PM PDT if the plan is to pay back the principal after refinancing in say 1 year, should I be including the principal as part of my investment cost? Or only the interest I'll pay for the example of 1 year [link] [comments] |
| FHA question, if I move myself, but not my wife/kids across town, can I use an FHA loan? Posted: 16 Apr 2020 01:14 PM PDT A little more background; I bought my first home on a VA loan. I want to buy a fourplex one county (Parish) away. If I want to buy that 4 plex on a FHA loan, can I just move myself into it, or would I need to move my whole family into it? Can I have a VA loan and an FHA loan at the same time? [link] [comments] |
| What is the best Chase business credit card for rental real estate LLC? Posted: 16 Apr 2020 11:40 PM PDT I just created my LLC and opened a Chase Business Checking Account. Now, I'm trying to decide which of the Chase Business Credit Card to apply for. They will be checking my credit. I have an excellent credit score and a relationship with Chase Bank. I already have the Chase Sapphire Preferred. Thoughts on which of the credit cards is best if the main thing the LLC will be doing is holding both title and mortgage in the name of the LLC? Hopefully, I will be able to build business credit to purchase more real estate. [link] [comments] |
| Posted: 16 Apr 2020 05:58 PM PDT Hi! Long time lurker 👀. Long story short, paid cash for investment SFH $205K. Put in $45K in renovations/improvements. Comp'a are in the $300K range. I want to put a mortgage on the property and take some cash out for other projects. Home is held in an LLC. I approached a local bank about funding this and they are offering 55% LTV on the purchase price ($205K). Ignoring improvement & "FMV." Is this typical? Was a bit frustrated that they are using purchase price and not improved value. Any input is appreciated. Thanks!! [link] [comments] |
| ELI5 Compound returns and real estate investing? Posted: 16 Apr 2020 09:17 PM PDT I'm having a hard time understanding how compound returns works in RE investing. I know how to calculate a CAGR, but am coming up with very low numbers even with 6-8% cap rates and 5-1 leverage. How are your CAGR numbers? Is it a metric you consider? [link] [comments] |
| Can I, as a non-licensed person, have an ownership interest in a boutique brokerage firm? Posted: 16 Apr 2020 07:37 AM PDT And if so, what are some unique challenges to a venture of this kind? [link] [comments] |
| What compounded rate of return are you guys achieving? Posted: 16 Apr 2020 08:36 PM PDT Im in New York currently. If I were to buy property near by it would have to be upstate new york or maybe jersey or Pennsylvania because of NY prices. If I were to buy property with cash, what kind of rates of return are reasonable assuming all costs (vacancy, capex, management)? Is 20-25% a year (cashflow and appreciation) way too much to ask? Is 15% what you guys are aiming for? I know rates of return depend on market, but I just want to know what you guys have achieved so I know what's a probable range of returns. [link] [comments] |
| Posted: 16 Apr 2020 08:22 AM PDT A few months out of completing my first reno (for rental) and I want to get another property after that. Is it worth it to get an LLC now or wait til I get a few more doors? [link] [comments] |
| How to share ownership of a rental property? Posted: 16 Apr 2020 06:57 AM PDT TL;DR -- how transfer 50% ownership of my rental properties to my brother? The properties are financed by me and are Fannie May loans. I'm trying to figure out how I can have me and my brother on the title as 50% owners (tenants in common) for my rental properties that are financed. I have seen a lot of conflicting information from my research so far. My loans (4 mortgages on 4 rental properties) are all Fannie May loans. From my research, it suggests that until 2016, the name on the title of a property backed by a Fannie May loan must be in the name of the person on the loan, and no one else. In 2016, the guidelines appear to have been updated to allow ownership of an LLC, but only if it is a sole proprietorship (source). I have also heard that changing the title can have implications on insurance policies. Bonus question: I also have a registered LLC, and would actually prefer to own the properties via the LLC, with my brother. In this case, I would add my brother as a 50% stakeholder in the LLC. (I prefer LLC for the additional protection against litigation/liability). [link] [comments] |
| Posted: 16 Apr 2020 06:33 PM PDT Do any of you have out-of-state properties that you are renting out if so how do you manage them without hiring somebody to do it for you? [link] [comments] |
| How will COVID-19 impact NYC (all 5 boroughs) cap rates? Posted: 16 Apr 2020 06:26 PM PDT It seems there are 3 forces at work:
It's not clear to me which will impact Cap Rates more. [link] [comments] |
| Posted: 16 Apr 2020 06:22 PM PDT Hello. So... I'm looking into buying my first rental property. I have $2000 Saved. My Credit is 600 even. I make 30k a year. How would I start? Am I able to with my circumstances? [link] [comments] |
| What’s the best way to get a start? Posted: 16 Apr 2020 08:12 AM PDT I'm in my late 20s, just bought my first home less than 2 years ago. I love real estate and would love to have that passive income continue to grow and acquire more properties. But I'm struggling to find a start. What is the best way to go about purchasing a second home for the sole purpose of renting out? Is it easier or harder to get financing? I could not afford the second property on my own, I would have to rely on the income from renters to cover some of the cost. Is a bank or credit union more lenient if they see a great credit score, and understanding this is an investment? Just looking for some pointers other than the basic google search for "how to start real estate investing." Thanks in advance! [link] [comments] |
| How to manage an offer on a plot of land I own? Posted: 16 Apr 2020 02:03 PM PDT Hi I have a pretty basic question. I own a plot of land by a lake in California .. an area called lake Elsinore. It's a plot in which the value of the land has depreciated significantly and likely even more so now because of the coronavirus. The person who called me wants to buy and said he needs the plot for development. How much would be a reasonable selling price? I've been told that if I can sell for even half the purchase price that would be a good deal right now, but I wonder if it's better to try to hold on to the property. I am not familiar with how land prices appreciate and wonder if there will be a boom after the coming housing crash? I sent an email asking the person to make a reasonable offer, preparing to make a counter and don't have any experience with this process. Any advice is appreciated thanks [link] [comments] |
| Current property mgmt software reviews/thoughts Posted: 16 Apr 2020 12:39 PM PDT What are your reviews/thoughts on current property mgmt softwares like Buildium, Yardio, and AppFolio? Are they too hard to use and complex and don't have automated tasks and features built in? [link] [comments] |
| Posted: 16 Apr 2020 02:40 PM PDT A buddy and I want to start a real estate investing business/portfolio. We're both graduate from college a year from now and with the uncertainty in the economy and job market, as well as a potential drop in real estate prices and mortgage rates, real estate investing seemed extremely appealing. I just wanted to run some numbers by y'all to see if our goals are realistic. Our first goal is to save up enough money to put 3% down on a condo in an up and coming city. We've think we can save up 20k by the end of the summer to put 3% down on a 300k condo, furnish the place and have an emergency fund of about 5k to cover the mortgage for the first months. We like the idea of doing Air BnB since it's a little more lucrative and if we do it in the right city it seems like it'd pay off. Is any of this feasible for first time buyers? Any advice and criticism is welcome, thank you in advance! [link] [comments] |
| Posted: 16 Apr 2020 02:37 PM PDT I'm looking to rent my place that could go for $1750/month Monthly Expenses 1200 mortgage/strata 40 insurance 40 tax 30 electrical 250 repairs 85 vacancy Leftover is not the profit margin I was hoping for... did I make a bad purchase or am I missing something? [link] [comments] |
| Househack 4plex for 470k with FHA loan, each unit rents at 900, worth it or no? Posted: 16 Apr 2020 09:14 AM PDT I live in a small town. 4plexes rarely come up here, maybe once a year... I found one off the market with the help of my realtor. Sellers want 470k. They bought it for 390k 4 years ago. There was a similar 4plex on the same street that looks the same as this one (it's a street of 4plexes) that got several cash offers of 500k a few months ago. I live on the west coast, so prices are high.. Triplexes here are going for 400k with the same rents of 900 a month. Single familt 3/2s are going for 230k-260k. Is it worth it to buy this 4plex with an Fha loan and 3.5% down to house hack? There is one empty unit in it, so no need to worry about evictions. I'd be responsible for water/sewer/trash which means that I'd need to pay about $650 a month out of my own pocket, and that's not including things like capex/repairs/vacancies and what not. I plan to manage the property myself, so no management fees, and to do everything I can myself (although I'm no repairman so if something really breaks I'd have to hire one). But I hope to do landscaping myself too. Is this property worth it? A couple months ago people were throwing 500k at a property that is pretty much the same thing (that even had smaller sq ft than this one by like 300 sqft total). What do you think? There are just no other opportunities to really house hack around here, and I cannot move to any other areas. And getting a sfh and paying $1400 a month mortgage is more expensive, as I currently rent myself and pay $850 a month for rent. [link] [comments] |
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