Real Estate Investing: Those who live off of your real estate income, what is your portfolio like? |
- Those who live off of your real estate income, what is your portfolio like?
- Purchasing property with long term tenant under Market Value
- Would you say it’s harder to get into real estate investing in states that are warmer vs states that have cold winters?
- I Analyzed My City Into Sales Data Per Postal for 2019 + Other Data
- RE facebook groups that are good?
- 1031 exchange: International
- Sellers tenants need more time to move out.
- Should I look for a co-signer or could I pull off a mortgage?
- Tips on navigating a tear-down and new construction for first property
- Neil McCoy-Ward says he we are headed for a 15-40% crash. Anyone heard of this guy?
- Theoretical Question
- Evaluating paying properties off, thoughts?
- Contemplating first investment property
- Multiple options for first purchase- thoughts?
- 500k in the bank, 21 years old and wanting to know best way to go about buying a house?
- Are there any cases where self insuring a rental property makes sense?
- COVID Mortgage Forbearance QUALIFICATION NOW too???? Bank of America
- Does anyone bird dog here and if so, is it a decent earning?
- Neighbor’s tree decimated my fence
- I think I found a bargain but idk how to manage it
- End of Depreciation period questions
- Real estate beginner here. Looking for some advice on international property investment.
| Those who live off of your real estate income, what is your portfolio like? Posted: 27 Apr 2020 04:42 PM PDT Hoping to FIRE at some point and plan on investing in some real within the next 5 years once I get enough capital (possibly a duplex). Just curious, those who live off your rental properties, what is your portfolio like? How many buildings do you have? Units? And is the cost of living in your area high. I appreciate any insight. Thanks! [link] [comments] |
| Purchasing property with long term tenant under Market Value Posted: 27 Apr 2020 06:45 AM PDT Hi all, My first time potentially buying a property. Looking at buying a 2 unit Multi-family, and plan to live in the 1 bed unit and rent out the 3 bed. Currently, the one bed is vacant while the 3 bed is occupied. The tenant has been there 10+ years, is on a month to month lease, and paying $1450/month including utilities and garage parking. Market rent conservatively puts this at $2100 a month so they are well below market. What are my options? Right now I believe my options would be to:
Will the tenants being there for 10+ years mean anything in regards to squatters rights? Just a random thought I had. Any advice is welcome. Also, how much information can I ask listing agent about this scenario? Am I allowed to ask to see lease, why they are so low, questions like that before I have made offer? I have been pre approved for financing as well. Additonal info: Property is listed for $525k. I have my real estate license, but have not done any deals besides 1 apartment lease (got it through work as a side/adjacent type gig. Main job is in Construction Management/Real Estate Development, and I am only 23 so apologies if this is a naive question) Vacant 1 bed is on Zillow for $1850 currently. [link] [comments] |
| Posted: 27 Apr 2020 07:23 PM PDT I'm graduating college next year and the real estate market in Michigan has a lot of opportunity from what I can see, but I despise the weather. I've been thinking about moving to any kind of warmer climate aside from California. Any advice? [link] [comments] |
| I Analyzed My City Into Sales Data Per Postal for 2019 + Other Data Posted: 27 Apr 2020 09:17 PM PDT LINK: https://public.tableau.com/profile/clarke.gallie#!/vizhome/WindsorRealEstateOverview2019/Dashboard1 City: Windsor, Ontario [link] [comments] |
| RE facebook groups that are good? Posted: 27 Apr 2020 07:30 PM PDT Are there any Facebook groups worth a damn that you know of? [link] [comments] |
| Posted: 27 Apr 2020 06:45 PM PDT These questions are just for the US tax perspective, and assuming like-kind exchange (rental to rental). If I have Canadian foreign property, can I 1031 exchange into another Canadian property to defer US taxes from the sale? I've been told a foreign tax credit mismatch can occur when I sale later- not sure what kind of issue this creates. Follow up, assuming like kind, can I031 exchange Canadian property to a like-kind in the US? Rental to rental. OR secondary residence to secondary residence. Thank you [link] [comments] |
| Sellers tenants need more time to move out. Posted: 27 Apr 2020 06:43 PM PDT We went under contract mid March. They asked for an early May close so they could get their tenants out in time, etc. Now they are saying the tenant needs until mid May potentially. I want the house, it's a NICE location, so I can't just walk. But I'd rather have them out sooner than later. I have no idea if they are going to ask for more and more extensions or not and I miss out on ANOTHER nice house available right now. So what can I do here? Or should I just wait?? I'm a landlord myself, multiple rentals for a decade, only once have I had a tenant overstay their welcome and that was a totally different situation, they house wasn't for sale. She overstayed by a week without my knowledge. I found out when I went to check on the house. She was gone within an hour after I told her I was serving her the first step of the eviction notice. [link] [comments] |
| Should I look for a co-signer or could I pull off a mortgage? Posted: 27 Apr 2020 04:34 PM PDT So my credit score is in the 650 range. Not from bad history, just a lack of. I've done most things in cash as opposed to financing, but opened my first line of credit about half a year ago. I currently have two small lines of credit, one being a card. Last years income was 6 figures. Not from salary, but from non-traditional/alternate sources. This year is looking good so far as well. I'm wanting to buy a duplex or 4-plex to live in one unit and rent out the other(s). Should I look for a co-signer or could I get a mortgage (maybe FHA)? [link] [comments] |
| Tips on navigating a tear-down and new construction for first property Posted: 27 Apr 2020 04:18 PM PDT Hello, looking at a foreclosure that I'm 95% sure needs to be torn down. I'm not interested in the house anyways, I'm attracted to the idea of new construction because of low interest rates (plus my adolescence filled with Legos). This would be our first property, currently going to auction around 250k and I'm ballparking a modest new construction of 400-500k, in Seattle. Where do y'all think I should start with this? Im familiar with the traditional mortgage process but a few searches has yielded few results for this kind of combination. I figured I'd need to get in touch with a bank that has experiences handling new construction loans, and then next find a builder to have a look. Also the auction process of course. Oh, and I'm looking at this route because we could build a MIL suite that we'd likely rent out unless we have children. [link] [comments] |
| Neil McCoy-Ward says he we are headed for a 15-40% crash. Anyone heard of this guy? Posted: 27 Apr 2020 03:56 PM PDT I was on youtube yesterday and I saw this video: https://www.youtube.com/watch?v=q15hgniYXxM Unlike a lot of the typical "doomsday" prophets, I actually thought he made some good points, although I thought the video was somewhat lacking in data. Has anyone heard of this guy before who could say whether or not he is reputable? He made a pretty bold claim about the real estate market dropping a minimum of 15% and he says he thinks it could even swing as far as 40% (IMO, huge, I don't see how). Although he did mention this excludes high-demand bubble markets (SF, LA, etc) A high level summary of his analysis:
He also mentioned a lot of "shadow banking" activity, although I'll be honest, I don't really understand much of that and how it works. [link] [comments] |
| Posted: 27 Apr 2020 03:48 PM PDT So earlier today I was in a meeting where someone was telling us about how he invested in real estate and he said that he highly recommended forming partnerships. As in two or more people share capital to buy a property with cash and without taking out a mortgage and they would presumably legally share rights to the property and any income/costs of renting it out. What are the negatives of this approach? Thinking of edge cases, if 10,000 or a million people formed a "partnership" and had equal share of a house, what are the negatives of that? If this is a solid idea, how come more people don't try to do this? If one were to do this would there be benefits/negatives of all partners being local vs national or even international? [link] [comments] |
| Evaluating paying properties off, thoughts? Posted: 27 Apr 2020 11:58 AM PDT I have basically 3 loans worth of cash sitting in a savings account and my opinion is that the market has too much risk personally to buy/invest more. I'm considering paying off loans (~5.5%) that would free up 9 units worth of rent per month.... but put me in a spot where I had to borrow against the properties to make a purchase in the future. It'd be a 10% return on the cash, which I can't get anywhere safely. The 3 loans are coming near-term in 2 months as well. Money seems cheap but banker is too busy with SBA loans to get me the latest numbers. Thanks. [link] [comments] |
| Contemplating first investment property Posted: 27 Apr 2020 03:46 AM PDT Little background for what it's worth. I'm a government employee in NY 31 yo. I Max out 401k with change to spare. Currently own my house with 200k to go on the mortgage and 200k in equity. Sitting at around 25k cash at the moment My sister in law does real estate investing as a career around the country, mostly single family properties. Her and my brother own 2 properties in KC netting 300 cash monthly per house. She's recently gotten more persistent , assuming because of the climate, on getting me involved in buying my own house. She's even shown me listings with her anticipated numbers. She has contacts for prop managers in 10 different cities, so I'm really putting all faith in her. Is it fair to expect a house going for 140k in KC with 25% down at a 3.85% rate to bring in around 300, 10%, cash after PITI? And then an annual ROI of 28%?I just want to know if these numbers are in the ballpark of reality Secondly for what it's worth. Assuming her numbers are right and she's good at what she does (she is a very efficient person) would it then make sense to tap into some equity on my own house to buy more? Thanks [link] [comments] |
| Multiple options for first purchase- thoughts? Posted: 27 Apr 2020 03:29 PM PDT Hello all. I'm new to RE investing, and looking to make my first few purchases. I've lived in/paid the mortgage for my mother's condo for the last 10+ years, and am looking to buy the house from her for what's left on the mortgage- roughly $75k. Once purchased, I intend to take out a HELOC and use that money to put down payments on 3-4 properties. My question is how would you suggest I approach the original purchase? My options are as follows:
I have a tenant/roommate who pays over half the mortgage amount as is, but I still list the house as my primary residence, for whatever that's worth. Any help is greatly appreciated! [link] [comments] |
| 500k in the bank, 21 years old and wanting to know best way to go about buying a house? Posted: 27 Apr 2020 06:46 PM PDT Hello, quite new to this and I want some advice/ tips in case I am missing something in my theory. So a bit about me first of all to get it all into motion: 500k invested (70% from inheritance) 60k per year job Know my way around investing, currently return 50k per year on my inital investment (except for this year jesus christ). 21 years old I want to buy a house for around 600k, and as a first home buyer I have many benefits, if that amounts for anything. I was thinking of paying it upfront, or rather getting a 30 year mortgage at a fixed 3 year rate of 2.45%(in AUS with ANZ). My thinking about getting a mortgage centres around the idea that the money (500k) could make me more money in the investments rather than sitting wasted in a house, and the money I get from the investment can pay off the interest and principal of the house, and then whenever I want I can just buy the house right out if needed. An alternative could also be to rent out the house, and get around 25k from that per year to pay it off even quicker. Any help/ knowledge is appreciated thanks. [link] [comments] |
| Are there any cases where self insuring a rental property makes sense? Posted: 27 Apr 2020 08:24 AM PDT Hi all, closing on a house in Texas for $155k all cash. Insurance rate as quoted is ~$2300. This feels a bit obscene and is making me curious whether this is a situation where self insuring makes sense? After all the deductible is high, and any damage less than $2000-4000 won't be covered. Please let me know your thoughts. [link] [comments] |
| COVID Mortgage Forbearance QUALIFICATION NOW too???? Bank of America Posted: 27 Apr 2020 02:12 PM PDT I just got my bank of america mortgage FHA covid forbearance directions. Now they want me to supply documentation to qualify for the forbearance repayment? I thought we all automatically qualified if in good standing??? Is this completely nuts? Im not showing sufficient income right now to qualify again right now. However all my payments are on time for the last 15 years. I was in good standing up until the pandemic. Who needs this stuff now? What do others think about this? [link] [comments] |
| Does anyone bird dog here and if so, is it a decent earning? Posted: 27 Apr 2020 01:55 PM PDT |
| Neighbor’s tree decimated my fence Posted: 27 Apr 2020 01:54 PM PDT A tenant called that a tree fell down and ruined a fence between mine and my neighbors properties. Tenant also said that property was recently sold and he only saw the new owner once (I assume it might be an investor). Who is responsible for cleaning up the tree from my back yard and repairing the fence? [link] [comments] |
| I think I found a bargain but idk how to manage it Posted: 27 Apr 2020 11:37 AM PDT There's an apartment next to where I live that sells for 275.000€, 4 bedrooms, 2 bathrooms, 1 studio, kitchen, 2 garages, 1 parking spot, 2 floors, 290m². It's a good middle class residential zone, only malus is the lack of public transportation and not many commercial activities, but it's close to city center (15/20 minutes). Other houses in the same area that are 90m² plus a garden sell for 190k. I'm no real estate expert, I got no experience, but it looks like this house is cheap as fuck, other houses that have similar characteristics, similar m² and number of rooms, sell for 500k, only difference is they got a garden. I know the people selling this house, they have a shitty family situation and are selling this low to get rid of the house bc they're divorcing and shit. The husband just doesn't care anymore bc he's exasperated, and the wife is stupid and wants to get rid of the house. Idk how to precisely evaluate the situation but it looks like a bargain. There's something concerning me though: •the current economic situation with the coronavirus may drive liquidity very low •I'm 18, my family doesn't have the money to buy it in cash, and I dont think it would qualify for a mortgage, plus I think it'd be difficult to rent it since it's a very big house and I think usually rentals are couples or singles, and the problem is that not having money my family would be overleveraged in this situation and not having a rental would fuck everything. • I don't know how it would be possible to get financing for this, only thing that comes to mind is a private that invests in this giving us the money and taking a share. Am I missing something? [link] [comments] |
| End of Depreciation period questions Posted: 27 Apr 2020 11:11 AM PDT What happens after 27 years of owning a property in terms of tax purposes? I'm sure families who own buildings in cities have owned past the depreciation period-- I just don't know anyone. -After the 27 year depreciation period does the depreciation value go away and that tactic loses value? -Has anyone had experience with owning properties for so long? -What happens next? Is it now not as tax-efficient? -What happens to rent check income? Thank you! [link] [comments] |
| Real estate beginner here. Looking for some advice on international property investment. Posted: 27 Apr 2020 04:52 AM PDT Here's a little bit of background before getting to the actual question. I'm a young trader and my only source of income is trading (forex and cryptocurrencies) and investing (cryptocurrencies). I've been planning to diversify my income sources for a long time, and property investment has always interested me. I've actually been waiting for this recession since late 2018 after watching a few investor channels on YouTube predicting an upcoming recession, and I've been meaning to buy properties during this recession ever since. Now that the recession has finally started, I believe it's getting closer to the right time to buy. I have absolutely no prior experience and barely any knowledge in property investment and am still very much in the learning phase in all this. I probably should've started learning and reading a lot sooner, but I've been working on other things in life. I hope I'm not too late to start this new journey of property investment. As a self-employeed "digital nomad", I travel around the world a lot and can go to other countries without any financial or time constraints. My home country isn't really a great place to buy properties; I believe there are other better options elsewhere and that's why I am thinking of international property investment. So my question is, what places are the best options for a foreign investor to buy properties in during this time? I'm only looking for one or two places at most. Also could you give feedback on my next steps after the purchases? My full plan is as follows: Buy a number of houses in great locations and rent them away to college students and young adults who don't have their own houses yet to collect monthly checks from them, and once this recession is over and the prices have recovered, remodel them and sell them back at much higher prices. I'd like to know if this is realistically feasible and worth the time, money and effort involved. Also, once the pandemic dies down and international travelling becomes easy again, would it be too late to buy? The curve has started flattenning already in many countries and it doesn't seem travelling restrictions caused by the pandemic will last that long. I'd be great if the location is a good place to visit and have fun things to do as I'd like to have a good time while I'm there to do the business. [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