Real Estate Investing: Landlord raised rent 2.5% on lease renewal. Is this normal? |
- Landlord raised rent 2.5% on lease renewal. Is this normal?
- The worst thing that could have happened just happened. Looking for advice. (Baltimore, MD)
- How to find a reliable boots-on-the-ground assistant for out of state investing?
- [NYC] Should I close now?
- Has anybody applied for the SBA CARES act loan online?
- Do Realtors/Developers Ever Blatantly Lie About New Luxe Condo Buildings Being "80% Sold" As A Sales Tactic? Is this a Common Tactic? (PICS and LISTING)
- Would you build a spec house right now?
- Experience in Purchasing Multi-family Units/Homes
- In regards to PPP and EIDL
- Buying in one place while still renting in another?
- Is it possible to buy the mortgage on a specific property?
- Hard or soft wood
- What is an appropriate/safe multiple of debt/noi in a rental property?
- What are the guidelines to getting conventional loans on more than one property?
- House hacking in a HCOL vs. out of state investing in a LCOL?
- Request repairs before renewing lease
- Questions about first rental
| Landlord raised rent 2.5% on lease renewal. Is this normal? Posted: 05 Apr 2020 06:04 PM PDT Trying to figure out what justified this type of increase. We've been very easy tenants and extremely respectful of the space. The reason I was given was "cost of living adjustment." [link] [comments] |
| The worst thing that could have happened just happened. Looking for advice. (Baltimore, MD) Posted: 05 Apr 2020 09:57 AM PDT Edit: I fucking get it, the building being uninsured was a terrible business decision, but I'm here to make sure things are done right. I wake up to a bunch of missed calls my from dad this morning. His main money maker, a 3-unit (2 residential apartments and a ground floor grocery store), had a fire in the 3rd floor apartment. The property was uninsured. Luckily no one was injured. My dad is devastated. That's $3000+ a month gone. He owns the building outright. It's in a great up and coming area. The property was worth about 350K. He has bad credit, but my mom, my siblings and I have good credit. I have a high income. What are our options? I don't even know our next steps. My dad had a stroke 2 years ago and he's just not the same. It's kind of on me to make sure my dad is doing things correctly moving forward. He's always cut corners. I moved to Baltimore a year ago to help him with the rest of his portfolio, this was his safety net. - Do we get an inspector to see what can be salvaged? - How do we find builders to redo or raze the building? - Will the next door's insurance come for us? TLDR My dad's property just burned down, it was uninsured. 2 apartments and 1 commercial unit. [link] [comments] |
| How to find a reliable boots-on-the-ground assistant for out of state investing? Posted: 05 Apr 2020 08:04 PM PDT I've been reading books and listening to BP for years, but I'm finally finishing grad school and making some real money so I plan on investing in addition to retirement accounts this year. I live in a HCOL area and I'll be house-hacking here in what I expect to be my primary residence for the next few years. However, I also would like to invest in the Nashville market later this year. I assume my question applies to nearly any market however. My question: Many out-of-state investors have contacts in their market who can check to see if the property manager/contractor is doing their job or if the area is safe, etc... How can I find an assistant who can do this for me if I don't already know anyone in the area? Is it critical that they understand real estate investing? [link] [comments] |
| Posted: 05 Apr 2020 09:14 PM PDT I was in between closing before covid hit. Right now the title has a lien on it due to prior owner. Should I close or delay 2b2ba condo? Carry cost is 500$ common charges 2300$ mortgage and taxes. To be renovated and rented. [link] [comments] |
| Has anybody applied for the SBA CARES act loan online? Posted: 05 Apr 2020 05:35 PM PDT https://www.sba.com This is a loan for small business and sole proprietorships and LLCS can apply for as part of the stimulus package. It allows up to $100,000 per employee you have and it says it could be forgiven. I'm trying to see if I can apply to pay off some of my duplex mortgage but I have some questions about filing out the form. Has anybody applied yet? [link] [comments] |
| Posted: 05 Apr 2020 07:12 AM PDT |
| Would you build a spec house right now? Posted: 05 Apr 2020 07:40 PM PDT I started a spec house project in January. I bought a piece of property for 25K that had a house that had burned down. I paid $6K to have it cleaned up. My plan was to be all in at 130K and list it for 199. This will be a low end house for it's area. Median sales price is 290. On March 15 my $3600 plans were done by the architect so I paid him the final installment. At that point I thought I'd let things sit for a while and wait it out. Since then, I've decided to move onto the next phase of the project. I'm less than 35K in right now, and I can still set the project on the shelf. One reason I'm not is that apparently now is a good time to submit plans/permit application to the county, a process that was taking 4 months. It might take as little as 6 weeks now. The building department still has full staffing, although most are working from home. My reasoning is that my house won't be ready early fall at best. I keep hearing estimates that the total number of cases of the virus are projected to peak in the US in early May, and mid May in my state. My prediction is that things will come roaring back quickly, especially on the low end of the market. Furthermore, it seems to me that the most comparable event to this, for which we have good data, is 9/11. I did some research and although the stock market took 2 years to rebound, median home prices across the US were essentially unaffected by 9/11. I think one good thing about this problem is that there will be a clear demarcation that the problem has ended. Once we get to the flat part of the curve after the peak, people will start to go back to work. The weather will warm and I think this pandemic will be in our rearview mirror. I don't see an underlying reason why the doldrums should last 4 years like 08-12. [link] [comments] |
| Experience in Purchasing Multi-family Units/Homes Posted: 05 Apr 2020 05:02 PM PDT Hi all- long time lurker, first time poster. I just recently moved to the Denver area and as a first-time home buyer, am hoping to house hack by buying a multi-family unit (preferably a duplex, but am open to the idea of a triplex or multi-family unit). In my search however, I'm finding it crazy difficult to find these kind of properties. I've mostly been leveraging Zillow so far, as well as a search portal that our realtor set up for us, but all I'm finding are single-family homes and townhomes (I realize you can house hack this way as well, but would rather find a multi-family property if I can). My question is, to those of you who have purchased/own multi-family properties, how did you go about finding them? Once I do find one, what are the main criteria you would recommend I should use to evaluate them (outside of buying below market rate) as a good future rental property? I realize that my problem may be specific to the Denver area, but regardless would love any and all advice from you all. [link] [comments] |
| Posted: 05 Apr 2020 01:16 PM PDT Hello, hope you are all doing well, staying safe and getting through these difficult and confusing times. In regards to PPP and EIDL I am pretty confused on how it works with respect to real estate owners. I have been reading and seeing mixed responses, and am just confused on what to do. In general if you owned different properties each under its own LLC and have no payroll employees would you qualify for any of these programs? If so, would you then apply for each LLC independently? [link] [comments] |
| Buying in one place while still renting in another? Posted: 05 Apr 2020 10:18 AM PDT My spouse and I are in our mid-20s and really want to buy a property. The problem is that we live right outside a big metro area where prices are crazy expensive. We are here to jumpstart our careers right now, but would like to return Florida, where we are from, in 3-5 years. We have discussed buying a house down in Florida and renting it out as sort of a short-term investment property, while still living and renting where we are now. Is this crazy? We don't know much about real estate but it's super tempting when our budget might get us a nasty 1 bedroom condo in the suburbs here when in Florida it could get us a pretty nice house. Has anyone done this? [link] [comments] |
| Is it possible to buy the mortgage on a specific property? Posted: 05 Apr 2020 03:32 PM PDT Let's say I think a restaurant that owns the building is not going to survive the year. Is there a way to buy that mortgage? Do you just find the lender and make an offer? Does that ever happen? [link] [comments] |
| Posted: 05 Apr 2020 03:17 PM PDT We are about to close on a property with hardwood through out, but covered in carpet. If the floors are in decent shape would you either repolish or refinish them, or put down LVP either way? [link] [comments] |
| What is an appropriate/safe multiple of debt/noi in a rental property? Posted: 05 Apr 2020 02:21 PM PDT I'm very risk adverse by nature. Times like today are the exact reason why I wouldn't buy deals that don't cashflow. If it doesn't produce, it isn't an investment. I want to move out in the next 3 years or so and hopefully get a duplex and live in one of the units with my girlfriend. What would be a safe mortgage? [link] [comments] |
| What are the guidelines to getting conventional loans on more than one property? Posted: 05 Apr 2020 10:01 AM PDT Hi, everyone. I'm new on this. I became a nurse and I work roughly 88 hrs a week. I will have my loans paid off and have no debt left by October. I wanted to buy properties and rent them out. My question is if I buy one property through a conventional loan or through FHA what would I have to do to purchase a 2nd or 3rd property through a conventional or FHA? If possible I'd like to buy one new property every 2 years. tl;dr: What are the rules to getting multiple properties under conventional loans and under FHA rules. Thank you! [link] [comments] |
| House hacking in a HCOL vs. out of state investing in a LCOL? Posted: 05 Apr 2020 01:04 PM PDT Hi all. I'm a recent grad making ~$65,000 pre tax in a HCOL state. I'm pretty attached to the area and not willing to move but am seriously considering real estate investing as a way to generate some side income and possible replace my salaried income in the future. I was wondering if anyone has insight on the pros and cons of investing in a HCOL state via house hacking as opposed to investing remotely in a LCOL state. The way I see it is that house hacking in HCOL would be great because I would own my own home at primary residence mortgage rate. The downside would be that I would spend more time and energy managing the property, it will take me much longer to save up a down payment/longer to pay the property down, and pay higher property taxes. Alternatively I could invest out of state and spend significantly less time and energy on day to day maintenance and management of the property (although pay more to have someone else do it), the property would be much less expensive and easier to pay off. I could easily save up a down payment in a couple years. The downside would be that I am not there to make sure routine maintenance is done correctly etc. Anyone else been in a similar situation? How have you addressed this trade off? [link] [comments] |
| Request repairs before renewing lease Posted: 05 Apr 2020 05:33 AM PDT I have a longer term tenant renting a house and in my last inspection I noticed some damage to the property, including a hole in the drywall. Before renewing their lease again, is it reasonable to request they make repairs to bring the property back into normal condition? Of course, I wouldn't ask them to repair any normal wear and tear items. Thanks. [link] [comments] |
| Posted: 05 Apr 2020 07:03 AM PDT My girlfriend and I live in a condo I own that I pay $1200 / month for. We were considering renting it out as it may be worth up to $1800/ month. However, this means we'd need to find a new place to live, if that is $1400/ month lets just say - then that $600/month I'd be earning is now going back into my new rent. Hoping you guys can help as this has been a big learning curve for me [link] [comments] |
| You are subscribed to email updates from Real Estate Investing. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment