Real Estate Investing: What is the deal with all the sub-$8000 houses in Milwaukee? Are they traps? |
- What is the deal with all the sub-$8000 houses in Milwaukee? Are they traps?
- Out of state real investing
- Renting out first SFH before one year. Conventional Loan.
- How are real estate prices trending?
- Buying first Multi - Realtor advised against 203K loan
- Wholesaling Real Estate - Starting out with Jack $4!+ - Need Help.
- Can you legally perform repairs on an home you put into an LLC?
- How do you think that all this turmoil this will affect mortgage rates?
- With the ban on foreign immigration, is it now risky for a foreigner to invest in US real estate?
- Rising Insurance Costs Another Blow to Bruised Apartment Landlords
- What will Building Cost be like in the near future?
- HELOC for 1st property
- Big homes: investment or liability?
- Seller wants us the forgo the assessment contingency - VA Loan
- Is it worth the hassle to buy commercial real estate over SFH?
- Securities backed mortgage for investment properties?
- Selling Foreign Property as a US-Dual Citizen: Tax Issues?
- Possible to get a 2,000,000 heloc secured by a 4,000,000 home?
- Targeting motivated sellers on Facebook?
| What is the deal with all the sub-$8000 houses in Milwaukee? Are they traps? Posted: 21 Apr 2020 05:34 AM PDT Hello again r/realestateinvesting ! You guys pointed me in the right direction with my last question, so here I go again: I am doing my morning Zillow search for places in cities around the country and I stumbled across Milwaukee, WI. I keep seeing properties for multi-families for under $8k and I am wondering what the catch is? Obviously they need serious renovations, but is it that much to where you cant buy for next to nothing, put in some equity and either flip or rent out for some positive cash flow? I have never been to Milwaukee and just doing a skim and saw this as interesting. Thanks! [link] [comments] |
| Posted: 21 Apr 2020 10:01 PM PDT Good day to all. It goes without saying that owning a property within the same city/state is easier to control and manage rather than having it out of the state. However, would managing real estate properties (per say single family houses) in a different city be beneficial if the prices are right ? I'm from Montreal, Canada, & here properties are pretty pricy, making it tough to start a portfolio. The further you go out of the city the more chances you have of finding something good though not everybody wants to live far from the city. I was hoping to explore the opportunities in per say Ottawa or other cities that aren't TOO far from mine. I'm wondering if anybody here tried managing real estate properties outside of their residential city ? Thank you [link] [comments] |
| Renting out first SFH before one year. Conventional Loan. Posted: 21 Apr 2020 10:56 PM PDT Just closed on a home I plan on planned on renting out eventually but not so soon, I know I need to live in it for a year for one year before I rent it out but what if I can't? Job relocation or the likes? Is there any recourse? What would happen if I did? [link] [comments] |
| How are real estate prices trending? Posted: 21 Apr 2020 10:33 AM PDT I am assuming real estate prices will drop around a year from now, as borrowers default. But are investors seeing any odd changes in the meantime, e.g. as overleveraged investors try to get into cash? [link] [comments] |
| Buying first Multi - Realtor advised against 203K loan Posted: 21 Apr 2020 09:59 PM PDT I have been studying up on how best to get into real estate properties and I have decided to start to make a move towards buying. I am going to wait a bit longer until we see how COVID-19 impacts the market but a conversation I had with a realtor today threw me off. I mentioned to him that a duplex or quad would be interesting and I would consider going the 203k route. My goal is to rehab, rent, refinance after a year and buy another 2 properties. He said that he doesn't recommend 203k's due to it being hard to get the lenders to approve on a lot of the rehab whether they are cosmetic or structural. Basically made it sound like a MAJOR pain in the ass to rehab and advised to just find a home that doesn't need it (more expensive). My question to you all — is this common knowledge? I haven't heard this yet but he is one of the first realtors who "specialize" in investment properties that I've talked to about this. Are 203K's a bad idea due to it being a pain to rehab the right way assuming it's an average rehab and nothing structural? Or is he pushing me that direction for his own benefit? [link] [comments] |
| Wholesaling Real Estate - Starting out with Jack $4!+ - Need Help. Posted: 21 Apr 2020 08:29 PM PDT Wholesaling Real Estate - Starting out with Jack $4!+ - Need Help. Ok so I ran across some videos on YouTube about a process of house flipping called wholesaling real estate. I have been researching a lot about it the past few days. Ive heard the good and bad to an extent and have learned enough to procede with caution. There are a few questions I can't figure out about it. If someone could please help me out with them I'd really appreciate it. My main areas of concern are...
Any help would be greatly appreciated. Thank you very much! [link] [comments] |
| Can you legally perform repairs on an home you put into an LLC? Posted: 21 Apr 2020 01:46 PM PDT Hi All - We just bought our first rental yesterday. We bought it in our names, thinking we could transfer it to an LLC later. Seems like for accounting purposes, the sooner the better. We planned to permit all the work, and and do it ourselves since we own the home. Now I am curious if we transfer it to an LLC if we will have the same ability to do so? [link] [comments] |
| How do you think that all this turmoil this will affect mortgage rates? Posted: 21 Apr 2020 06:07 AM PDT Before March, interest rates with my mortgage provider (Columbia) had hit 3.125 for a 30-yr fixed and rates were so low across the board that banks were increasing them to tamp down demand for refis and give some relief to their offices. In the next month they rose steadily to 3.825, and over the past few weeks have fallen slightly to 3.625. I'm not super knowledgeable on these things, but how do you think that this type of market will affect mortgage rates? Will we be going back to those super low rates, or will the fear of bad loans and defaults cause banks to raise the bar for borrowing? [link] [comments] |
| With the ban on foreign immigration, is it now risky for a foreigner to invest in US real estate? Posted: 21 Apr 2020 03:47 AM PDT |
| Rising Insurance Costs Another Blow to Bruised Apartment Landlords Posted: 21 Apr 2020 09:20 AM PDT A good warning to review how you model your insurance premiums into the future: [link] [comments] |
| What will Building Cost be like in the near future? Posted: 21 Apr 2020 04:26 PM PDT I'm not an investor, but I did just by my first investment property. It's got an existing structure that I will be demoing and rebuilding as a single family home on with Accessory Dwelling Unit which will become our primary residence. Once moved into, I will them be renovation our existing home which includes two separate two-bedroom units. Since we have a lot of building/renovating coming up in our near future, I'm very interested in seeing how the building industry will be affected by the current economic climate. Maybe you are not able to tell the future, but what are your thoughts on what building costs will be like in the next year based on past experience? The information I've read about recessions seem to indicate that the cost of building does not actually go down. In fact material prices go up. What about labor and demand during a recession? Or maybe everything will bounce right back? Thoughts? [link] [comments] |
| Posted: 21 Apr 2020 03:33 PM PDT I'm considering a HELOC on my primary to buy my first investment property. Target property is turn key, buy and hold, "cash" purchase (all purchase money from HELOC, secured by primary). I'm effectively 100% leverage, 0% down in this scenario. How would this leverage effect ROI models? My understanding is leverage multiple returns or losses. High risk/reward? [link] [comments] |
| Big homes: investment or liability? Posted: 21 Apr 2020 03:11 PM PDT Some rich/smart people, I've heard, use big homes for tax write-offs. Some even make money on capital gains. I find big homes 99% of the time is a waste of money and it's just for personal pleasure and bragging rights. Am I wrong? What are the financial advantages of investing money into large single family homes opposed to other investments? [link] [comments] |
| Seller wants us the forgo the assessment contingency - VA Loan Posted: 21 Apr 2020 02:50 PM PDT So my original post is > https://www.reddit.com/r/RealEstate/comments/g5oh2t/seller_wants_us_to_forgo_a_assessment_contingency/ The reason I am also posting this question and situation here is because we ultimately plan to rent the house out after leaving the area. So if the houses assesses lower than the price paid we wind up losing money if we were to decide to sell. Thanks great people O'Reddit. [link] [comments] |
| Is it worth the hassle to buy commercial real estate over SFH? Posted: 21 Apr 2020 12:15 PM PDT I'm looking to diversify my real estate portfolio out of only single family homes. Started looking into multi family 5+ or retail but the entire process is such a headache. I've talked to my bank about it and they said I needed 30% down, environmental reports, inspection reports, appraisals, they want me to set up a holdings company or some corporation, and a bunch more hassles. On top of all of that, the interest rate is not even comparable to residential. How would a 5 unit building or retail space be better when: a) it costs more b) requires larger downpayment c) higher closing costs of legal fees d) higher interest rates Is it really worth going through all that hassle? It seems like the return wouldn't justify all the work it takes to buy the property. Is there any good reason to choose commercial when buying a few single family homes is much easier? [link] [comments] |
| Securities backed mortgage for investment properties? Posted: 21 Apr 2020 12:06 PM PDT I'm curious if anyone knows of BoA or another lender will let you do a securities backed mortgage on an investment property? Goal would be to do 0% down and then pledge securities as needed. For reference, attached is a link to the program BoA/Merrill does for personal mortgages https://mlaem.fs.ml.com/content/dam/ML/pdfs/ml_Finance-your-home-without-cash-downpayment.pdf BoA says you can pledge securities for a family member, but curious if there is any program out there that would allow the pledge of securities for an investment property (risk seems equivalent given that they get a SACA on your securities account). [link] [comments] |
| Selling Foreign Property as a US-Dual Citizen: Tax Issues? Posted: 21 Apr 2020 08:14 AM PDT One of my parents (US-EU dual citizen) owns property in an EU country that they're thinking of selling to another relative. I'm not familiar with the local tax implications of that country, but I have some questions relating to the US tax implications. Namely:
To limit my parent's US tax liability, is this understanding correct:
Thank you! [link] [comments] |
| Possible to get a 2,000,000 heloc secured by a 4,000,000 home? Posted: 21 Apr 2020 01:16 PM PDT Looking for a 2M line of credit for an investment purchase i made on a residential home. What are the best options I can take to pursue this. [link] [comments] |
| Targeting motivated sellers on Facebook? Posted: 21 Apr 2020 05:30 AM PDT I'm trying to target motivated sellers on facebook for my wholesaling company and funnel them into a clickfunnel to gather their information. Anyone here who has done this any advice or suggestions on how to target the right people and approach everything would be appreciated. [link] [comments] |
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