Real Estate Investing: PSA: the purpose of a business is NOT to charge as much as you can |
- PSA: the purpose of a business is NOT to charge as much as you can
- Anyone purchase rental properties in non-US countries? What has your experience been like?
- Raising rents on long-term tenants. Why are they so low?
- Making a REIT?
- Mortgage prepayment questions
- Looking at alternative financing solutions to try and beat bank rates, ie insurance companies, etc - anybody tried any of these?
- Looking to get into real estate.
- Convincing property owners to let me take over?
- Combining Fundrise and Stash/Acorns
- Where would you go to invest
- West Virginia Real Estate Expertise
- Does the CARES Act carryback rule apply to rental property losses?
- Looking for advice with Primary Residence and a Lease Option
- New to real estate investment in Houston TX.
- Need Advice: Careers in Real Estate for the Investor
- Anyone have a small bank or mortgage broker recommendation in the Houston area? Looking to refi some properties to a lower rate and would like to go with someone local, if possible.
- Can I buy a house in foreclosure before it hits a sheriff sale?
- Am I doing my real estate taxes correctly?
- Rent payments...
- How can I find investors interested in pooling resources to purchase a property for rental income?
- flipping and placing manufactured homes.
- Buying a rental property while renting elsewhere
- Has anyone used LandlordStudio app for managing their rental properties?
- Help with an investment property
| PSA: the purpose of a business is NOT to charge as much as you can Posted: 23 Apr 2020 05:24 PM PDT The purpose is to MAKE AS MUCH MONEY as you can. Sometimes this entails charging as much as you possibly can. Other times—more often than some people here think—it doesn't. It is easy to overlook that. To many people, "market rate" really means "the highest amount that will still get you a tenant in your preferred timeframe." Sometimes going all the way up to "market rate" rent is not your friend—particularly if you want your choice of tenant. I've also seen plenty of people say things like "it's not my job to be liked." That attitude is dead wrong. Counterparties are MUCH less likely to screw each other if they have a good relationship with each other. Do you want your tenant to take extra special care of your property? Then don't behave in a way that makes your tenant think "fuck that guy." A landlord-tenant relationship is exactly that, a relationship. It's not a one-time transaction like buying a used car. Don't be the landlord that everyone compares to a used car salesman: you will wind up with a lot of turnover, vacancy instead of revenue, property damage, legal disputes, and a whole lot more. Time is money. All of this subject to your individual circumstances, including applicable law, of course. But plenty of people need to know that pushing the limit because "that's just how a business is run!!!" is ignorant and amateurish. [link] [comments] |
| Anyone purchase rental properties in non-US countries? What has your experience been like? Posted: 23 Apr 2020 03:22 PM PDT Would love to get your thoughts on that experience and how the landscape may change going forward with COVID. I imagine Airbnb-ing those units won't prove to be good investments, but I think buy and hold in some markets could still be very lucrative. Has anyone here purchased rentals in Europe, specifically Italy, Spain, or Portugal? How about rentals in Asian countries such as Japan, HK, and South Korea? [link] [comments] |
| Raising rents on long-term tenants. Why are they so low? Posted: 23 Apr 2020 08:14 AM PDT I'm looking at buying a 4plex that has tenants renting at VERY below market value. Market rent for a 2BR apartment is about 1100 and they're all paying 600. Tenants have all been there for 5-15 years. I want to buy it and raise rents to market, but I'm wondering why the rents are so low? This screams opportunity, but also may be a red flag, unless the previous landlord was just complacent and let them ride the gravy train for this long without caring. [link] [comments] |
| Posted: 24 Apr 2020 01:01 AM PDT So I've been hearing a lot about property syndication and I couldn't help but wonder how different that is from a REIT? I was also curious as to how difficult the process of starting a REIT is and how someone even gets there in the first place. [link] [comments] |
| Posted: 23 Apr 2020 06:07 PM PDT Hey folks - Is there a limit on prepayment amount ? I am buying a house with only 5% down but plan to pay off rest 15% later in the year to make it 20% and save on PMI. I read one blog and found out there is a limit of $10,000 per year for prepayment. My mortgage document say there is no Prepayment penalty but doesn't say anything about limit. [link] [comments] |
| Posted: 23 Apr 2020 09:16 PM PDT |
| Looking to get into real estate. Posted: 24 Apr 2020 02:19 AM PDT Hey guys! I been investing for a few years now and held back on the whole realo thing primarily due to prices. There's rumors with the whole market coming down and what now so I am positioning myself in hopes to buy the bottom if that opportunity ever rises, I plan on renting my home out to tenants while living there myself. As new as I am to this, I have a couple questions.
Thanks in advance! [link] [comments] |
| Convincing property owners to let me take over? Posted: 23 Apr 2020 11:47 AM PDT I see lots of property owners who are trying to sell all their properties because they're simply tired of being landlords, for whatever reason. I'm considering contacting people in these situations to see if they will consider owner financing, or allow me run the business and take the burden upon myself while they still get to make money off the properties, or possibly strike some sort of deal somewhere in between. I know lots of these people probably only want cash payouts, but I'm optimistic that I can find someone willing to help someone like me get into the business. What is the best way to contact or approach these landlords, and what kinds of deals could I propose that will appeal to landlords wanting to sell out? My overall objective is to make money off of rental properties without having much capital or credit history. [link] [comments] |
| Combining Fundrise and Stash/Acorns Posted: 23 Apr 2020 05:14 PM PDT Wanted to get people's thoughts on something. There's plenty of platforms that allow you to passively invest in public markets (round up every purchase to the dollar and invest the change, etc) There are also crowd funding platforms that allow you to invest in private real estate deals. But nothing that combines the passive, cheap investing model with private real estate deals. Would you use a platform like that? [link] [comments] |
| Posted: 23 Apr 2020 06:02 PM PDT So a little bit of background on my situation. I'm in my late twenties and have been involved in real estate for a few years now. I own the home I live In and another house in my town. The town I live in is kinda a boom town and I think a contraction of value of homes is coming and maybe its time to sell before this town busts. I figure if I sold both my houses I could probably get about 160k and I have about 90 saved on top of that. So my question to you people of reddit is, If you where in my situation where would you go? I'm looking for an area where I could get cashflowing rentals but I'm open to other ideas. Just curious what you guys would do. [link] [comments] |
| West Virginia Real Estate Expertise Posted: 23 Apr 2020 07:45 PM PDT Wanted to see if there's any one who could help guide me in the process of investing in West Virginia property? I'm beginning to reach out to agents, but figured I'd make an attempt to connect on here as well! Edit: to give some background - I'm looking to acquire/build a vacation home/property that, ideally, would be passed down generations. A nice family getaway property. [link] [comments] |
| Does the CARES Act carryback rule apply to rental property losses? Posted: 23 Apr 2020 10:28 PM PDT I have a single rental property that I lost about $1000 on in 2019 from higher than expected maintenance costs. I don't have the rental property set up as an LLC or anything; I just rent directly to the tenants. I also haven't filed my 2019 taxes yet. Can I use this loss to modify my 2018 tax return? Or since it's a personal loss and not a business loss, does it not apply in this case? [link] [comments] |
| Looking for advice with Primary Residence and a Lease Option Posted: 23 Apr 2020 06:08 PM PDT Hi there, I have two great opportunities coming in the next couple of months and looking for advice. Next month, I get access to my VA loan that I have been looking for multi family properties in WA state. With that, my in-laws are moving out of their home in Kentucky and I have thought about approaching them to do a lease option and rent out their property. What are your thoughts on this, should I focus on being a homeowner at one property or is this something you would do both at the same time? Factors to include: LTO property is move in ready, no need for an upfront investment LTO property will be managed by my partners parents (who just happen to be property managers). The in-laws moving is my partners sibling. I have never owned real estate before Thank you! [link] [comments] |
| New to real estate investment in Houston TX. Posted: 23 Apr 2020 02:56 PM PDT I have been entertaining this idea for a while now but i decided that maybe now its the time to pull the trigger and get started on it, ive considered refinancing my house, i only owe 20k on it so i have a fairly good amount of equity in it, i would like to find either a duplex or a single family home, im not sure where to start, which would be better? i would preffer a move in ready or something that needs minimal repair, i would like to keep it between 120k-150k. Others things i would like to do is find someone local that is already in the real estate rental business and work with them, to learn the do's and don'ts of the trade, ive listened to an audio book on it and they have some god ideas and things but ive figured theres no better way than to work with someone with hands on experience. [link] [comments] |
| Need Advice: Careers in Real Estate for the Investor Posted: 23 Apr 2020 10:48 AM PDT I wanted to ask the group here what their thoughts are? I know real estate is my long play, and I am in the saving phase before my first deal. I have been thinking about entrenching myself in the industry, but I am not sure where I could fit in best. Background: I am a cold call salesperson, B2B and B2C, I am decent at it, have sales skills and can produce. I am interested in any option based in or near the real estate industry to become educated and better equipped to become a real estate investor, doesn't have to be sales but obviously that is where my experience is and what I would rely on to get into any new job. Any thoughts, life experience or anecdotal advice is encouraged... [link] [comments] |
| Posted: 23 Apr 2020 05:23 PM PDT |
| Can I buy a house in foreclosure before it hits a sheriff sale? Posted: 23 Apr 2020 01:17 PM PDT I've seen addresses for houses slated to be sold at a sheriff sale in my area. Many of those same addresses are listed on zillow as pre-foreclosure. Can I contact the owner and purchase it before it hits the sheriffs sale or foreclosure? If so, what do I need to be weary of? [link] [comments] |
| Am I doing my real estate taxes correctly? Posted: 23 Apr 2020 11:47 AM PDT My father and I bought 2 rental properties back in 2011. We then established an LLC to put the properties in. My father has been doing all the work and upkeep, so I just let him keep the profit and have never filed a schedule E. We have always filed a 1065 K1. I am inquiring into this now because I am trying to buy a home and the bank wants to see proof of my schedule E. So bottom line: are we even doing this correctly? Can I just show the bank our 1065 proving income and expenses? [link] [comments] |
| Posted: 23 Apr 2020 03:13 PM PDT Hi all, I am transitioning into managing my own rental that is close to home. The property manager used to handle rent payment collection and forwarding it onto me. What are you guys using/doing to handle rent payments? My concerns are as follows: -Convenient for both of us -Free/minimal cost for the service -Secure/safe for us to use I'm hesitant to give my account info of my bank to the tenant. Thanks in advance! [link] [comments] |
| How can I find investors interested in pooling resources to purchase a property for rental income? Posted: 23 Apr 2020 03:07 PM PDT I need some ideas on the above! There is a property that I would like to purchase for rental income and I'm looking for 5 or 6 individuals who would like to go in on it as a source of income. How best to find and vet these people without coming across as some type of scam artist? [link] [comments] |
| flipping and placing manufactured homes. Posted: 23 Apr 2020 02:34 PM PDT I currently own 10 lots in a rural/residential community that requires dues every year upwards of $500-700. In the past I would have contractors build homes on the land sell for a profit. Over the past decade the process has become extremely time consuming and the cost for permits is ridiculous not to mention getting an inspector out to the property is nearly impossible ( In CA). I want to sell but no one wants to purchase land as is, so I am looking into manufactured homes. Has anyone had much experience building/placing Manufactured home on semi residential/rural land? Currently prefabbed homes are costing upwards of 90 -100 grand. Has anyone had success flipping prefab homes? If so where are the best deals, what are the pittfalls? Any advice is beneficial. [link] [comments] |
| Buying a rental property while renting elsewhere Posted: 23 Apr 2020 01:41 PM PDT Might be a dumb question but do people do this? I live in DC for work and have no plans to move since I like my job and it's not going anywhere. That being said, real estate in DC is insanely expensive. Extremely hard to find deals unless you have great connections. Baltimore is 40 mins north and has much cheaper homes, even in the nicer areas. Could I still get approved for financing to buy a SFH rental investment in Baltimore if I'm still renting I'm DC? [link] [comments] |
| Has anyone used LandlordStudio app for managing their rental properties? Posted: 23 Apr 2020 07:32 AM PDT I'm hoping to find a deal within the year and wondering what other people use to manage their rentals. Landlord Studio has good reviews but wondering if anyone has used it and something to compare it to. What do y'all use to manage your rentals? Thanks! [link] [comments] |
| Help with an investment property Posted: 23 Apr 2020 03:03 AM PDT This is my first time posting here, so apologies in advance if I mess up. A while ago I invested in property in Bulgaria, just before the credit crunch. The financial crisis complicated things hugely, but I did manage to pay off a large portion of the amount owing. There is still an amount outstanding, but I haven't paid anything in a long while (I entered into a payment agreement with the developer). I have not heard anything from the developer and now I'm wondering what the position (legally) is. Can anyone suggest where to get help or advice on this? [link] [comments] |
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