Real Estate Investing: if condo upstairs get flooded, Their insurance pays for my (downstairs) ceiling, right? |
- if condo upstairs get flooded, Their insurance pays for my (downstairs) ceiling, right?
- Advice needed: should we lose our management company or ride out the storm with them?
- Trailer and Rv park owners. How did you find your park?
- What to do? abandoned
- How Accurate Do My Numbers Seem (Rental Income)?
- Alternative free software to quickbooks?
- Best way to invest $100k in real estate without owning properties? Is now a good time to start?
- Who Was in the Game (and affected) in ‘08? Or Even Better...
- Do I qualify as a FTHO if I have bought a rental property in the past?
- Advice on type of loan to apply get.
- Beginner Investor seeking help
- Estimating uncertainty in expenses
- Family owned.
- $25K 6000 sq. ft. Duplex Deal Breakdown (aka, the granddaddy of all duplexes)
- Deadline Extension for 1031 Exchanges due to COVID-19
- Is owning properties in another state feasible?
- I don’t have a property manager and am thinking of telling tenants either that I’m the property manager or that I’m business partners with a strict co-owner. What are good responses to tenants when they say “well how would the (other) owned find out if you don’t tell them?”
- What to look for when inspecting a manufactured house?
- Is real estate investing still a good idea in an area (Belgium) where the 1% rule is impossible and it's more like 0,60%?
- Is it possible for a small fish investor to successfully invest in NYC(5 borough)?
- Want to buy a property with mandatory golf club membership in FL, could I simply refuse to pay?
- What’s the big deal with buying houses with stable foundations?
| if condo upstairs get flooded, Their insurance pays for my (downstairs) ceiling, right? Posted: 10 Apr 2020 05:14 PM PDT Tenant sent me the pic. I went there and knocked on the condo upstairs. Sure enough, the old guy's bathroom is flooded. He didnt know what to do, I had to shut off his toilet water pipe. But now that it leaked downstairs to my unit, his insurance is gonna pay for the fix, right? [link] [comments] |
| Advice needed: should we lose our management company or ride out the storm with them? Posted: 10 Apr 2020 08:17 AM PDT Hi. My wife and I own around 17 doors and we have a management company that I hired a couple of years ago when I had a traveling job and was single. I now work locally and my wife is an immigrant and can't work. She says she's ready to manage our properties, and the extra cash would be nice since my employment is uncertain right now. So we were thinking of getting rid of the property management company. My concerns are these: -they could be more equipped to collect rent in these times, especially if there's a change in management the tenants see as a potential for taking advantage. -I don't want to contribute to the overall situation of chaos (basically laying people off) when I don't necessarily have to. Thoughts? [link] [comments] |
| Trailer and Rv park owners. How did you find your park? Posted: 10 Apr 2020 05:19 PM PDT |
| Posted: 10 Apr 2020 02:40 PM PDT My tenant just abandoned the place, but he took the keys, transponder, fobs, and lock. I'm assuming I can keep his deposit now because he failed to pay this month's rent and the place has been cleared out. Should I pursue legal action? he was 1 month into a one year renewed contract [link] [comments] |
| How Accurate Do My Numbers Seem (Rental Income)? Posted: 10 Apr 2020 05:35 PM PDT Thinking of buying a nice 4 bedroom house in OKC (Yukon suburb) for a rental property. Home is $115,000 so 25% down at 3.5% APR should give me $521/month in mortgage + insurance + property taxes. I added a further $279 in costs/month for maintenance + property management company. So the total cost for me should be $800/month. It will rent for at-least 1200/month. Does $800/month in total expenses including mortgage for a 4 bed 2 bath home in a quiet suburb sound reasonable? Or should I budget for even more? Thanks, [link] [comments] |
| Alternative free software to quickbooks? Posted: 10 Apr 2020 01:51 PM PDT Title pretty much says it. Does anyone suggest a free accounting software? Thanks! [link] [comments] |
| Best way to invest $100k in real estate without owning properties? Is now a good time to start? Posted: 10 Apr 2020 04:58 PM PDT Let me see... I think I know of following ways:
That's about it. What in your mind is the best way to invest $100k in real estate without owning any properties? Is it a good time to start now, or given the special time, it's better to wait for a few months? And would you ease the fund in by DCA ? Or, if there are good resources on this, I'd appreciate some pointers. Thanks! [link] [comments] |
| Who Was in the Game (and affected) in ‘08? Or Even Better... Posted: 10 Apr 2020 08:46 AM PDT Who was in the game and affected by the savings and loan crisis? That one knocked my dad and uncle out of business. What did you learn and how did your business and personal philosophy evolve after either (or both) events? [link] [comments] |
| Do I qualify as a FTHO if I have bought a rental property in the past? Posted: 10 Apr 2020 12:47 PM PDT I'm thinking about buying a rental property as my first home purchase but do not want to live in it and only rent it out. If during my ownership of my rental property I want to purchase a new home for myself would I qualify for all the FTHO benefits such as having a lower downpayment and all the tax benefits that come with it? [link] [comments] |
| Advice on type of loan to apply get. Posted: 10 Apr 2020 06:12 PM PDT Hey reddit world, I'm only 23 but haven't bought a house or any investment property yet. I only have a car that is leased to my name that I will probably keep at the end of the term his year and a couple credit cards with amazing scores over the 700's, but also with some balances that I am paying off. I've had a steady job for over two years now and last time I applied I wasn't approved for a first home buyer option because of my job history (because I had applied to a new job at the time after leaving my 6 year job) but this time I'm looking in to it more for a investment. The property i am looking in to is already occupied by a long term renter and the price of the place is unbeatable at $134,000 at a very great location. So my question to you all would be what type of loan can I apply for that won't require me to live in The house? Edit: Advice On Type Of Loan To Apply For* [link] [comments] |
| Beginner Investor seeking help Posted: 10 Apr 2020 07:03 PM PDT Hi I went to look at my first property today and I had no idea what I was looking at and how much much everything would cost to fix it. Any resources that would help me ? [link] [comments] |
| Estimating uncertainty in expenses Posted: 10 Apr 2020 03:16 PM PDT Hi guys, I see a lot of folks on here posting on how to come up with point estimates for expenses. How do you all estimate uncertainty/ variance in the expenses? I've been looking for a while and haven't seen anything on this yet. [link] [comments] |
| Posted: 10 Apr 2020 09:48 PM PDT I own land, no house, with Family. How do I buy them out? Has anyone ever been in this situation? [link] [comments] |
| $25K 6000 sq. ft. Duplex Deal Breakdown (aka, the granddaddy of all duplexes) Posted: 10 Apr 2020 10:59 AM PDT This is going to be a long one, but I'll do my best to keep it as short as possible. We found this poor house built in the 1800s listed on Zillow through the MLS. https://www.zillow.com/homes/for_sale/1-_beds/pricea_sort/37.260938,-94.178582,36.908725,-94.769097_rect/X1-SS8nn5p7wttjg51000000000_8tgi0_sse/1_fr/213851087_zpid/?utm_source=email&utm_medium=email&utm_campaign=emo-instantsavedsearch&rtoken=434c6e62-e8f4-4013-a8c1-a0740989fd75~X1-ZUypeitxkyajux_9k5be&utm_term=urn:msg:202003301347123b6150ac59d7d415&utm_content=20200330-forsaleimage-PSS&3col=true It was originally listed at $45k, and had gone under contract, but that deal fell through and it was relisted. The listing price quickly dropped to $40K in the first couple of days after coming back on. When it was listed for the first time, I went to check it out. This is one of the most unusual situations I've seen....the original houses were two completely separate SFHs. But somewhere along the line, someone built a "walkway" for lack of a better word between the two houses, connecting them. They then had the land re plotted as a single plot. It wouldn't take much to remove the walkway, but the problem is that the houses would not conform to current code on distance between houses (12 ft.) if we ever wanted to restore them to two separate properties. The side effect is that by having them considered a single property, we'll save a little on taxes. (taxes for the houses in 2019 were about $850 for the year). The large house is about 4500 sq. ft. total. The listing has it wrong as it didn't include the other house or the upstairs of the main house. The upstairs is currently down to studs and lacking anything other than the basic wall layout. The smaller house is about 1600 sq. ft. and is a 3 bed, 1 bath. The plan is to finish the smaller house first, and get it rented for about $750 a month. We'll be doing our normal renovations of upgrading the house cosmetically. We can save the original turn of the century hardwood floors. We'll change out all the fixtures, repaint everything inside and out, redo the kitchen entirely, do many small repairs and fixes, etc. We could finish out the attic, but we didn't feel that was a good investment at this time. We expect to spend about $7500 on this house, and it should be finished and rented within a month. The main house, as you can see in the pictures, is mostly raw drywall or down to the studs. When we finish, it will be 6 bedrooms, 4 bathrooms. 4 bedrooms and 2 bathrooms upstairs, 2 bedrooms, 2 bathrooms downstairs. The downstairs will also have a large great room with fireplace, a very large formal dining room, a bonus sitting room with fireplace, and a large kitchen with a utility room off it. The work to be done on this side is too extensive to go over fully...but we'll redeck and reroof it, replumb it, rewire it, repair the existing "master" bathroom upstairs, add a second bathroom upstairs, restore and repair the original layout of the stairs, and of course all the usual cosmetic upgrades We are going to scrape, repair and repaint the wood siding to keep things as authentic on the exterior as possible. We have a budget of about $40K for this house. We expect to get a minimum of $1300 in rent. That makes our total project cost $25k purchase, $7500 reno for the smaller house, $40,000 for the larger house for a total of $72,500. We have an extra $2500 for any overages or to possibly upgrade the garages (there are 2 garages currently on the property) if we are under budget. So we've set a total project cost of $75K. Rent will be a minimum of $2050 per month, which will bring us in just under 3% monthly return. If we can keep reno cost down or get slightly more in rent, we will hit 3%. We expect the project to be completed about 3 months from now. Whew! Got through all that. This one took extensive discussion with my team to figure out what our projected costs were going to be since we are basically rebuilding the larger house from the ground up while trying to maintain as much of the historical features as possible. I didn't go into all that because it is already way too long. Feel free to ask any questions. [link] [comments] |
| Deadline Extension for 1031 Exchanges due to COVID-19 Posted: 10 Apr 2020 12:05 PM PDT https://www.accruit.com/blog/deadline-extension-1031-exchanges-due-covid-19 ...this Notice extends the 45-day identification period and the 180-day exchange period for taxpayer/exchangers whose deadlines were due on or after April 1, 2020. The deadlines for those exchangers to identify replacement property and/or acquire replacement property are now July 15, 2020. I [link] [comments] |
| Is owning properties in another state feasible? Posted: 10 Apr 2020 03:06 PM PDT Does owning properties in AZ while living in CA work without property management? Sounds silly, but would getting a Tesla to use the self driving feature to drive down twice a month work? [link] [comments] |
| Posted: 10 Apr 2020 09:06 AM PDT And what about when the neighbors tell you about tenants breaking the rules and the tenants claim they are not? [link] [comments] |
| What to look for when inspecting a manufactured house? Posted: 10 Apr 2020 09:43 AM PDT I'm going to see a used (1968) manufactured house in a age-restricted community, with the plan to either rent it out or (more likely) do a seller financing deal. What are the biggest things to look for in an initial walkthrough? What are the best resources to learn about doing this kind inspection without going for a full NACHI certification? [link] [comments] |
| Posted: 10 Apr 2020 02:19 AM PDT The housing market in Belgium seems to be very different in Belgium and maybe the rest of Europe compared to North America. I want to make real estate investing a part of my portfolio but the 1% rule you hear about is unseen here. The median ratio is 0,56% and at best you can find something at 0,65%. Is it still a good idea to make real estate investing a large portion of my portfolio. [link] [comments] |
| Is it possible for a small fish investor to successfully invest in NYC(5 borough)? Posted: 10 Apr 2020 08:52 AM PDT Ive been reading on real estate and a lot of the articles i come across cover homes that are relatively cheap in other cities or small towns compared to the NYC market. My question is how can someone with low capital even succeed here if the players here have larger reserves and can snatch up property quick. Even if one manages to buy a property to rent, the tenant laws here are way too centered on the tenant. This makes renting barely profitable when considering taxes, hoa fees, etc [link] [comments] |
| Want to buy a property with mandatory golf club membership in FL, could I simply refuse to pay? Posted: 10 Apr 2020 02:15 PM PDT Here is one I found: a 2000 sq ft SFH in Boca Raton. It is in all 10 school district. However, this property is in a golf club with a hefty initial fee (60 K or 75 K) and nearly 20K annual dues. Because of this kind of hefty fee, the property price is depressed in this golf club. I think there are people here in South Florida and have experience in getting out of club and how to deal with club. So, I just want to ask your $0.02.
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| What’s the big deal with buying houses with stable foundations? Posted: 10 Apr 2020 08:28 AM PDT I know a lot of poor people/college students who rent out one-story houses with foundations so lopsided that you walk upwards/downwards as you move around inside. From a landlord perspective, what's the big problem? I know it could collapse. But anything could happen, and it seems a lot of landlords and tenants own and occupy these houses without second thoughts. [link] [comments] |
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