Real Estate Investing: Do not be afraid to list your units during Covid - 19. Just rented out 2 apartments in less than 2 weeks. |
- Do not be afraid to list your units during Covid - 19. Just rented out 2 apartments in less than 2 weeks.
- San Diego landlord to tenants: ‘Nobody really has a legitimate reason not to pay rent’
- Quit Claim Deed on a FHA Loan
- Advice for a new investor ???
- If I bought a house before coronavirus
- Research from Zillow on Real Estate During Pandemics
- Advise on first investment property. Massive duplex, $500k
- Why do 5+ units multi family require commercial loans?
- Investment property rate
- Finding Short Sales or Forclosures
- Has anyone invested in Hotel Rooms/Condos?
- Using a Co-Signer for Loans
- Easy to put terms into lease to waive responsibility for injuries on your rental property? (Olympia WA)
- Anyone from Ontario in the realestate flipping or BRRRR business?
- Anyone know what loan terms are looking like for investment properties?
- Sporadic Waves of Applications on Zillow/Realtor?
- Thinking of renting out our other home. Couple noob questions...
- Back out of deal - Get escrow refunded?
- Modular Multi Family
- Is This My Best Opportunity? (Advice Needed)
- Backing out of escrow as a seller due to so much work to be done on home?
- Have you ever used the assessed value to bid down the asking price of a property? (US)
| Posted: 09 Apr 2020 07:19 AM PDT I had 2 apartments, one vacant and one occupied. I listed both at market value just to see. The vacant one had 13 inquiry, I did individual showings with a mask/gloves. I checked their credit, looked at paystubs, and signed the lease. The occupied one was harder. I could not to showings but every person that inquired understood. One said the video was just was they were looking for and they came to the property to tour the outside and come inside the hallway. They signed the lease but I put a clause stating that if they didn't like the apartment during the walkthrough they could cancel the lease. This is in Chicago, C maybe B class. [link] [comments] |
| San Diego landlord to tenants: ‘Nobody really has a legitimate reason not to pay rent’ Posted: 09 Apr 2020 08:15 PM PDT Use common sense and be careful what you communicate to tenants. [link] [comments] |
| Posted: 09 Apr 2020 08:27 PM PDT I have not been able to find much information online regarding transferring a FHA loan to a LLC. Is it possible to do without the lender calling the loan when you quit the deed? [link] [comments] |
| Posted: 09 Apr 2020 01:34 PM PDT I am a new investor located in WI and I do not have any doors under my belt .. yet. My plan is to build a rental portfolio that consists of multi-unit properties. For my first investment I would like to buy a 4 unit building using a FHA loan. I would live in one unit and rent the other 3. Does anyone have experience and/or advice they wouldn't mind sharing regarding building rental portfolios, what to look out for etc ?? I would love to hear! [link] [comments] |
| If I bought a house before coronavirus Posted: 09 Apr 2020 11:02 PM PDT If I bought a house before coronavirus, is that a good thing or a bad thing for me? [link] [comments] |
| Research from Zillow on Real Estate During Pandemics Posted: 09 Apr 2020 10:23 AM PDT Lots of people have been asking about how the RE market and how it will be affected. I came across this post from Zillow with some research on other situations like SARS, etc. Their overall findings:
https://www.zillow.com/research/pandemic-literature-review-26643/ [link] [comments] |
| Advise on first investment property. Massive duplex, $500k Posted: 09 Apr 2020 03:10 PM PDT Pretty much how it sounds. With the Market so volatile and rates so low, is now the right time? 4k sq ft brick side-by-side duplex. 4bd, 1.5 each side with solid backyard. Historic neighborhood. Solid wood everything interior. Area is still in gentrification, not fully turned but would think within 2-4yrs. Empty lot behind the property sold in Q3'19 for $300k and there are 3 mix use residential/commercial developments within a mile. One side is rented for $1,550 for another year. I'd live in the other side for a year then rent or Airbnb -based on current numbers, I'd need to AirBnb or significantly increase rent since $3,100 won't fully cover my expense analysis (mortgage, PMI, maintenance funds, etc). I am pre-qual for 2.75% and 3% down. Should I take the opportunity under the assumption (hope) the neighborhood turning over/AirBnb gets me more profitable. And/or that I could split the building into condos and re-sell at high margin? Or hold out and risk missing these rates/one of the last neighborhoods to gentrify in my city? $500K price, 2.75% rate, 3.5% down, $1,550 renter signed for a year in an increasingly profitable neighborhood. [link] [comments] |
| Why do 5+ units multi family require commercial loans? Posted: 09 Apr 2020 01:52 PM PDT Isn't it the same as getting 2 triplexes or 2 quadplexes? What the difference and is it worth it instead of just buying multiple properties? [link] [comments] |
| Posted: 09 Apr 2020 03:24 PM PDT We can get our current rate on our investment property from 4.85% to 4% today. My loan officer recommended waiting till the summer after the covid madness cuz he thinks rate can be even lower. I'm hesitate cuz we can lock in and lower payment by $100. And rate might go up not down. Is it even possible to get a 30 year loan rate for investment lower than 4? Thanks [link] [comments] |
| Finding Short Sales or Forclosures Posted: 09 Apr 2020 02:56 PM PDT How do you guys go about finding short sales or forclosures. Is there some sort of website out there that has them listed? Or say, something is listed on Zillow as a forclosure, is that considered a short sale? [link] [comments] |
| Has anyone invested in Hotel Rooms/Condos? Posted: 09 Apr 2020 01:17 PM PDT Hi! For those who may not know, hotels offer their rooms/condos for sale. After buying one, the hotel will do its part in booking and managing the room and then at the end splitting the revenue with you. Has anyone invested into something like this who is willing to share their experience/advice? Thanks! [link] [comments] |
| Posted: 09 Apr 2020 04:27 PM PDT I'll be graduating from a Masters program this spring and am planning to start investing in SFH or small multifamily once things settle down. I have $400k in funds but because I've been in grad school, I don't have much income but I do have a credit score above 800. My plan is to have my mom co-sign on loans with me. She is happy to do this and has an income of >400k a year and >3 million in assets. I plan to purchase 4-6 properties in the first year or two with a total value of 1-1.5 million. I live in CA and plan to purchase out of state. How hard will it be for me to get conventional financing in this situation? Any insight or advice would be much appreciated! [link] [comments] |
| Posted: 09 Apr 2020 04:19 PM PDT I'm buying another personal home and want to rent the current out, but i built some small structures on it that are mostly permanent. I built my kids a play area with a balance beam, swingset/fort, and halfway buried some tires in the ground to jump around on. The property is fenced but in the back the fence is against an area owned by the city and its just shitty barbed wire back there. Theres also a tailgate thats been buried for years partially exposed. Theres also a bunch of 4x4s in the back too that were the start of a fence. Is it normal to use terms on a lease to waive my liability for use? How do i find out if WA has any laws that prevent anything like that (i know some states have slightly different rules for things, like consumer laws for example). Would i have to retain insurance on the property or would that be covered by theirs? [link] [comments] |
| Anyone from Ontario in the realestate flipping or BRRRR business? Posted: 09 Apr 2020 12:20 PM PDT |
| Anyone know what loan terms are looking like for investment properties? Posted: 09 Apr 2020 12:17 PM PDT I know rates are fairly low for owner occupied units. Seeing 3.5% on 30 year fixed. What are folks seeing for investment properties? Looks like rates have jumped to 5%+ for 30 year fixed from what I've seen. Makes sense given the risk with purchasing an investment property right now. [link] [comments] |
| Sporadic Waves of Applications on Zillow/Realtor? Posted: 09 Apr 2020 02:56 PM PDT Hey everyone, Have a pretty consistent experience whenever posting vacant units on Zillow, Trulia, Realtor where applicants come a handful at a time or none at all. Pretty much in waves. Wanted to ask if this community also has a similar experience in case it has something to do with how these sites optimize their listings OR if it is a result of volatility in the market that I am in. Curious about your experiences and appreciate you sharing. [link] [comments] |
| Thinking of renting out our other home. Couple noob questions... Posted: 09 Apr 2020 08:27 AM PDT We've never done this before. We have an 1100 square foot house we would like to rent out. Is it reasonable to ask the renters to keep up with mowing (at least 2x per month) on the .25 acre lot? Is it also reasonable to ask them to keep up with maintaining the mulch beds surrounding the house? Or are we as the landlords supposed to take care of this ourselves? [link] [comments] |
| Back out of deal - Get escrow refunded? Posted: 09 Apr 2020 02:24 PM PDT I signed a purchase agreement about a month ago and on the agreement it says "closing to take place on April 11th or sooner unless both parties mutually agreed to extend the date". I just heard from my employer that if COVID closures drag on much longer then I may be laid off. My other rental also has a tenant not paying rent and not sure how long that will last. I'm starting to think I shouldn't go through with this purchase. It seems likely I won't have a paying tenant in it for awhile and then will have my primary and two rental mortgages I'm paying with a possible layoff. Based on the closing date on the purchase agreement can I back out of the deal and get my escrow back after April 11th? I haven't even had the house inspected or appraised yet so it will not close by April 11th. [link] [comments] |
| Posted: 09 Apr 2020 10:14 AM PDT Hi All - I live in a somewhat dense part of the world with a housing shortage. I happen to own some vacant land that I have been trying to figure out a way to develop for many years. My parcel is not an optimum or prime piece of real estate however, and I have been concerned rents would not support the costs of building. I went ahead and contacted an Architect about the land, and he suggested something I hadn't considered. Modular multifamily building. Does anyone have experience with this? Does anyone know what the cost of building this type of structure would be vs that of a traditional building? I know this question is somewhat regionally specific, but any estimate would be great. I plan on talking numbers with the Architect, but I would like to get some advance knowledge on whether this will be a fruitful conversation. I am giving the idea a hard look, and need to figure out how much money I need to invest in the project and what I will need to bring to the table in terms of financing. Does anyone have any input on whether this is a good idea? Why/Why not? - Thanks! [link] [comments] |
| Is This My Best Opportunity? (Advice Needed) Posted: 09 Apr 2020 06:50 AM PDT Hello, I am heavily considering buying a house. With the whole coronavirus being a serious problem right now I wanted to know if this is the right time to buy. I would also like to know where else I can get info on the current housing market trends. To get into the specifics I am active duty military (so my job is secure and I work on salary), I should be receiving a VA Loan to take care of the mortgage (one of the best VA housing benefits), and I have a credit score of 752. I projected to get out in August and move to Houston. Ideally, I wanted to get a single-family home (I am willing to look at different types of properties) and rent it out to someone to help pay for the mortgage either in Houston or on the outskirts of the city, while I live in an apartment. Of course, if the coronavirus epidemic continues to be an issue in August I will stay in the military a bit longer for everything to calm down and not purchase any property, I am just seeing this as my opportunity to get a house while the market is down. This will be the first home that I buy and I am very new at this. I am currently reading "Real Estate Investing For Dummies" and looking at all my favorite Financial YouTube Channels (Not Guru's) for advice. I would love yall's help too, thanks for reading! [link] [comments] |
| Backing out of escrow as a seller due to so much work to be done on home? Posted: 09 Apr 2020 09:09 AM PDT I am selling a single family home in California for $160,000. The buyer requested us to repair the fence of the home and get a few inspections done on the home to see if theres any issues. We are currently in escrow however the termite inspection report just came back and it states it will cost us $15k in repairs cause of fungi and dryrot and couple other issues with the home. This is going to be a lot of work for me at the moment and I'm debating on backing out of escrow. Is that a simple process or would I have to go through a whole legal process and headache? [link] [comments] |
| Have you ever used the assessed value to bid down the asking price of a property? (US) Posted: 09 Apr 2020 08:30 AM PDT I understand that the assessed value of a property is for tax purposes and that an assessor will have slightly different criteria to meet than an appraiser but I was wondering if anybody on here has used the assessed value in negotiations. If you have used this tactic, what was the sellers response? Were you laughed out of the room? Just curious and I figured this was as good of a place as any to ask. Cheers. [link] [comments] |
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