Real Estate Investing: The State of Delaware just banned short-term rentals through May 15. |
- The State of Delaware just banned short-term rentals through May 15.
- As over-leveraged Airbnb owners are forced to sell through the end of the year, which international cities / markets will make for the strongest buying opportunities?
- Is now a good time to sell?
- Would it be possible for me to buy a house in the next six to nine months? Outside of Philadelphia.
- Wholesalers and Investors, What are some unconventional ways you're finding discounted off market deals?
- What kinds of financing instruments are out there so I can help my parents buy a house/duplex/triplex and house hack?
- Looking to buy a multi family in NJ. House doesn't have separate utilities. What are the potential costs to get separate meters?
- Advice please
- At what point in the lending process should I choose a lender?
- Tips on starting with a few thousand dollars for someone young?
- Bought a property with my brother 2 years ago - how to settle up?
- Hey y'all. I would really appreciate your thoughts on a great idea that might seem bold. My post.
- SHOULD I BUY?
- DUPLEX OWNERS...
- Commercial Loans Closing?
- Private lenders or delayed financing in Florida?
- First Time Buyer - Strategy to be set up for success
- Mortgage options for investment property
- How do Real Estate Partnerships work???
- Can you refinance a conventional loan with an FHA?
- Just called my local JP to ask when evictions open back up.
| The State of Delaware just banned short-term rentals through May 15. Posted: 06 Apr 2020 06:40 PM PDT Includes AirBnB, condo rentals, and even hotels Delaware has been very strict. They've even been pulling over cars with out of state tags to ask why they're in the state. [link] [comments] |
| Posted: 06 Apr 2020 09:07 AM PDT Given the economic turmoil, how where are the hotspots you think deals will emerge... [link] [comments] |
| Posted: 06 Apr 2020 06:38 PM PDT With the current situation (COVID-19) and the current downtrend of our market, much speculation has come around the real estate market potentially crashing. Interest rates are very low right now, and it appears likely that there may be a multiple of foreclosures, loan defaulting, etc. which could result in a crash in a year or two especially since a cure or vaccine is unlikely till at-least a year. Is now a good time to sell? For context, market is Northern California, and house is 4500+ square feet, luxury housing Goal: to liquidate assets to upsize house in 2 years assuming market will crash - will the HOUSING market crash? [link] [comments] |
| Would it be possible for me to buy a house in the next six to nine months? Outside of Philadelphia. Posted: 06 Apr 2020 05:27 PM PDT Some back story and context to the question. My family moved here to the U.S. when I was two, we've never owned a home out right, we have lived in apartments the entirety of our lives, and me (M22) and my younger brother (20) have shared a room since we can remember. Every year we decided we would get a house, but something always came up (my father going to jail, or younger brother going to the hospital) this year I decided enough is enough I'm getting a house before the end of this year. I have a 605 credit score. And about 350 in savings. The average cost of homes in my area (suburbs outside of Philadelphia) are between $250,000 to $350,000. Is it possible to get a mortgage with my credit score? Should I focus on raising it before even trying? I know I definitely need more for a down payment, but what would be a good amount 15k? 25k? Any answers or advice would be extremely useful. Infinite gratitude [link] [comments] |
| Posted: 06 Apr 2020 03:56 PM PDT Hey everybody! So I am a relatively newer wholesaler working for a little investment firm in the Northeastern US. While in this lull of working from home, I'm calling through my lists as normal. It has me wondering, other wholesalers who have had success in the past (I mean clearing 70-80k in profit for yourself yearly) and are thriving in this virus, where are you looking for leads? How are you leading people through the uncertainty of the virus? [link] [comments] |
| Posted: 06 Apr 2020 12:43 PM PDT A little background. They got like 200 in the bank. Been renting for the past 6 years. They are contractors/interior designers. I am looking at wholesale deals which are discounted. Do not want to pay retail at all! But a little lost when it comes to the financing of it all. From what I understand right now. There's conventional, fha, 203k Working with banks, credit unions and mortgage brokers although the latter brokers seem like they are just trying to get paid. -are private lenders the better option? -is conventional good Or is there something I am missing? Some people say to avoid fha bc of pmi (don't even know what that is) any pointers What other financing instruments might I wanna look into so I can put minimal down and still have a good offer accepted? [link] [comments] |
| Posted: 06 Apr 2020 01:12 PM PDT Hello I found a multi family that I may be interested in purchasing. I would love in one unit and rent out the other two. Currently there are no separate utilities. The owner rents the two units out and includes utilities in the rent. If I were to purchase I would prefer to separate the gas, water and electric if possible. What are potential costs for this? Any potential road blocks? [link] [comments] |
| Posted: 06 Apr 2020 09:33 PM PDT Hello! I'm renting my house with my boyfriend and his brother. My boyfriend and I are planning to leave the lease early (we are leased until October) and his brother will likely stay here. His brother and I are both on the list, but my boyfriend is not. I don't even know if I can just be taken off of the lease, but I think I'd be up to sub leasing it to some friends if possible. How would you handle this situation with a tenant? I'm also thinking our next move should be a house hack purchase rather than renting again but I do not have a lot of income (especially now) since I am 19 and working part time in the restaurant/retail industry. I have been having a hard time understanding the loan process and how people are getting loans in all types of situation. Any tips on what to look out for or towards? TIA [link] [comments] |
| At what point in the lending process should I choose a lender? Posted: 06 Apr 2020 02:46 PM PDT So.. I had a few quotes on a refi, selected one of the vendors, and started moving forward. My loan person said something to the effect they weren't sure if they were going to be able to issue a loan with the losses I had on my taxes, she was going to check. I waited two days, hadn't heard back from her and locked a rate with another company and have started moving forward, and have a third that wants to do the same. All have done a hard credit check... at what point should I choose one of these lenders. My gut tells me the first one to schedule an appraisal wins, but this is my first refi and I really don't know... [link] [comments] |
| Tips on starting with a few thousand dollars for someone young? Posted: 06 Apr 2020 03:57 PM PDT I know everyone in this business has started somewhere, it became a bit disheartening when I saw most of the people I looked up to in my area started with massive lump some investments and got lucky on a flip, I've been doing research on wholesaling, and I don't want to take advantage or lead on the buyer or seller ever, so please give me your advice or some good resources I can start learning today, I basically only know of two ways of getting into the business, through wholesaling, or with some type of large investment or money pile, can you share some others? Please be patient with me because I'm very ignorant of the process and new. [link] [comments] |
| Bought a property with my brother 2 years ago - how to settle up? Posted: 06 Apr 2020 10:40 AM PDT Hi all, I bought a 3-bed flat with my brother (completed in August 2018) for £665,000 in Earlsfield, London. At the time, taxes on land lords were less punitive, and we decided he would live in the property with 2 friends, who would rent a room each, and would be pay "rent" towards to mortgage. We initially both put down c.£46500, broken down as £66,500 deposit, c. £23k stamp duty & a few thousand in fees/ furnishing. We got the mortgage at a 2.39% interest rate, over 35 years. The mortgage is £2110 per month, and my brother pays £825 for rent (master room) and the two tenants pay £675 & £725 = £2125 - so the mortgage basically pays it self for my 50%. I personally rent separately. Now, taxes are changing for landlords and as a high-banded tax payer, I believe I will need to pay something like 40% tax on all rental income. Secondly, we were looking to buy a 2nd property (for me), but it's completely illogical to own half a house x 2 each as opposed to 1 full each. Our 2 year fixed mortgage is up in August, and we believe my brother will secure the mortgage with his own income. By August, out of the £600k mortgage we initially took, I think we'll have about £575-£580k left (was £584k in Jan this year). We're talking about him buying out my equity in the property, but don't know the right formula to work this out fairly for either party? He has suggested: I get what I put in +bank of England interest rate I have suggested: I get what I put in with 5.5% compounded interest We're not going to argue over it and of course if we cant agree i'll just keep my equity in the property, but does any one have any ideas of how this would typically be calculated? Thanks in advance. [link] [comments] |
| Hey y'all. I would really appreciate your thoughts on a great idea that might seem bold. My post. Posted: 06 Apr 2020 05:16 PM PDT |
| Posted: 06 Apr 2020 08:05 PM PDT I am thinking about buying a duplex in PITTSBURGH PA, I want to buy one around campus and try to monopolize as much as I can. Would anyone be able to tell me if that would be considered a good idea? I know if volume is good it can net a good amount. [link] [comments] |
| Posted: 06 Apr 2020 03:51 PM PDT Hey guys, For those who have a duplex in their portfolio... What sort of cash flow (monthly) are you seeing per/unit? Assuming all costs being considered. What is ideal? What do you look for when you are analyzing new duplex deals? [link] [comments] |
| Posted: 06 Apr 2020 09:48 AM PDT Just looking for some anecdotal evidence regarding loans to purchase commercial property that were already in motion before the current crisis. Are lenders following through with their commitments, or are deals falling apart? [link] [comments] |
| Private lenders or delayed financing in Florida? Posted: 06 Apr 2020 12:49 PM PDT |
| First Time Buyer - Strategy to be set up for success Posted: 06 Apr 2020 05:58 AM PDT Hello all, I have been lurking for a while, trying to read as many posts + books as possible so I could get my knowledge level up. Overall, this seems like a very positive community and so I figured I would throw my situation out there and see if anyone has any thoughts on a best strategy moving forward. My wife and I are in our late-20s and will make ~$150k as a household in the Columbia, SC market. If all goes according to plan, we will have ~$30k in cash saved by August/September. I'm hoping to buy a 3bd/2bth primary residence around this timeframe, with a goal to renovate and eventually rent (~5 year timeframe). I'd like to begin investing, and I've considered buying another property in 2020 that I can quickly renovate and rent. It seems like there will be opportunities in H2 after all the dust settles, and I'd like to set myself up for success. Ultimately, I like the idea of diversifying my investment portfolio with a few properties around the area. To me, Columbia feels like a great market (obviously assuming I buy low). Am I on the right path here? I could look into an FHA loan to buy my first and then a conventional for the second. It feels like I should keep my liquidity and wait for deals on investment property, but my alternative is I focus on my primary residence and put 20% into a conventional loan and build a bit more slowly. If you all were in my situation, which path would you pursue in the coming months? [link] [comments] |
| Mortgage options for investment property Posted: 06 Apr 2020 10:31 AM PDT I don't have a primary mortgage or any debt to speak of and own my own home (though we do have a modest 2nd mortgage). Can my wife and I purchase a single family investment home for less than 20% down? I was hoping to do it for 10% down. Any options in the USA? [link] [comments] |
| How do Real Estate Partnerships work??? Posted: 06 Apr 2020 09:44 AM PDT I have a general question about how to make partnerships with real estate investing work. A simple example is that I have $10k and a friend of mine has $20k to put towards a down payment. We would become 50/50 partners and I would manage the rental (to make up for the $10k difference). Do we need to organize into an LLC together , or some kind of legal entity for this to work? How about trying to secure financing as a partnership? Any advice, or tips would be helpful! Thanks ! [link] [comments] |
| Can you refinance a conventional loan with an FHA? Posted: 06 Apr 2020 08:18 AM PDT I bought a place 6 months ago with 20% down at 94k. Since then I have made major upgrades to the house, most cosmetics like new drywall. Looking at doing more to increase the value and potential rentability like cutting an egress window in the basement so I have a third bedroom. When I bought the house I had the money so i figured why mess around with an FHA and mortgage insurance. Now with the market being down so much, there are likely going to be buying opportunities both in equity markets and real estate and I want to have that money in to capitalize on those situations. So I was thinking I could refi into an FHA loan and pull most, if not all of my downpayment out with the repairs and work I've done on the house. I need to do it this fall because the year after that I will likely be moving to a new area and I have to live in the house for at least a year with an FHA loan. Has anyone done something like this before? Will I still have like 3-5k in closing cost? [link] [comments] |
| Just called my local JP to ask when evictions open back up. Posted: 06 Apr 2020 08:33 AM PDT The lady said "When trump tells us we can start them." I didn't realize the local offices were shut down due to the feds. Do we have any indication of when this stops so we can evict again? And for the record this isn't Wuflu related. The people I want to evict are total deadbeats and have been behind for 4 months. I was nice to them and I shouldn't have been. Edit: Just called a different JP in my area and they said I can still send notices to vacate, and I can still come in and file, but they won't be able to process them until the end of the month. [link] [comments] |
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