Real Estate Investing: You inherit $100k what do you do now? |
- You inherit $100k what do you do now?
- What to do with renters who can't pay due to corona
- Purchase my parents house to help them out?
- What stops investors from turning their RE investments into a full time business?
- Have not heard from buyer since home inspection should I look for another buyer?
- What do you guys make of this price to rent ratio
- Forecast prices of commercial realestate
- Real Estate in Indiana
- How do investors jump to commercial from residential?
- With rates so low, are you refinancing? Who will you refinance with?
- NV - Question on refi and "Liability after Foreclosure"
- Tips for first buy
- Apps/webapps to invest in Real Estate Equity
- Can we all agree that anyone here that’s “new” and wants to buy their first investment home in the next 60 days is a full blown idiot.
- How to search for all SMF or Duplex's in a specific city/neighborhood
- Appraisal Cost
- How do you think short term rental owners would switch to long term rental market?
- When getting HELOC do they come estimate the house?
- Refinance opportunities? Maybe not worth it?
- When to buy an investment property?
- Baby college fund
- Help me think through this refinance
- Does anyone know of a bank that will finance me an owner-occupied conventional mortgage with a lower down payment (5% roughly)
- I have a home owner that wants to quit claim me his half of a property for 5k
| You inherit $100k what do you do now? Posted: 29 Apr 2020 07:35 PM PDT What would you do if you inherited $100k cash, knowing what you know now? In terms of real estate investing. Friend of mine just got this and have been dreaming about it ever since I was told. California. [link] [comments] | ||||||||||||||||||||||||
| What to do with renters who can't pay due to corona Posted: 29 Apr 2020 10:03 AM PDT So we have renters in our apartment in another city, they're all students and their parents pay their rent for them. Some of the parents got in trouble recently and are asking for leniency or temporarily lower rent altogether. Now before this crisis they were star renters and we really don't want to boot them out, possibly having them live on the streets or whatever. The dilemma is that of course the risk and burden falls on us if we give them any leniency and we run the risk of not being able to pay the bills ourselves. The best possible solution we could think of right now is the following: We do have some liquidity and will be able to survive the next few months. We would set up a contract, freeing whichever renter needs it up from pay for march,April and may and this sum of rent will be paid back over the next 36 months or so. We would include a clause where if the renter would leave before this time, they'd have to pay the remainder amount in full. What do you think? We have never encountered a situation like this before and are quite new to it. The country in question doesn't provide any guidance or stimulus packages concerning these things... [link] [comments] | ||||||||||||||||||||||||
| Purchase my parents house to help them out? Posted: 29 Apr 2020 09:22 PM PDT My parents have asked if i would be willing to buy their house and leave me about 80k of equity for my troubles. They would pay the mortgage and insurance and taxes just as they are doing now and they want to continue to use the house as a write off as my mom uses it as an office and writes off a portion of the living area. Im not even sure how that would be possible but apparently she says it is. It would definitely tie up money but when they do pass away the house would be ours to sell or rent out. Little bit of detail House appraised at around 305k They owe about 200k They would sell to me for about 225k The house is in a 55+ community Any issues with this? Is it a pretty smart investment? [link] [comments] | ||||||||||||||||||||||||
| What stops investors from turning their RE investments into a full time business? Posted: 30 Apr 2020 12:08 AM PDT From what I see, there are a lot of folks who don't seem to be investing in real estate as a full time job. My main aspiration is to own a large RE investment and development company but now I'm scared since I don't see anyone else doing/talking about it. Any insight? [link] [comments] | ||||||||||||||||||||||||
| Have not heard from buyer since home inspection should I look for another buyer? Posted: 29 Apr 2020 10:05 PM PDT So the inspection period ended on Sunday. But I have not heard anything from the buyer/buyer agent. My agent called the buyer agent and left a voice mail but we have not heard anything. I did got a email from the title company today asking for my information so they can process it. I think that is a good sign. Does the title company need to hear from the buyer before they get with the seller? Or do they contact you after inspection contegicy peroid ends. [link] [comments] | ||||||||||||||||||||||||
| What do you guys make of this price to rent ratio Posted: 29 Apr 2020 07:21 PM PDT I'm from the greater Toronto area. I've always found the prices here to be insane, raising way too quickly. Anyways today I did a bit of research. I found that the houses in my area (a suburb 40 min from Toronto) have an average price to rent ratio of 28. According to investopedia (no citation) the price to rent ratio rose to 24.5 in 2007 the US before the eventual market crash. What do you guys make of this ? [link] [comments] | ||||||||||||||||||||||||
| Forecast prices of commercial realestate Posted: 30 Apr 2020 04:01 AM PDT I am under a contract to buy a duplex in Avon Park Florida for 90.5k. I really fell in love with this property for multiple reasons. If I could get a loan, I would secure it but lending is proving very difficult if not impossible because of the pandemic. I have over 100k and I could buy the property cash but we all speculate commercial real estate prices are about to fall off a cliff. I am having a hard time walking away from this deal, so I want to ask how cheap do you think commercial prices are going to get? 7-10% drop? I am considering making them a cash offer on the expected value from the pandemic if I fail at securing a loan just to save the deal. What do you guys think? [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 07:42 PM PDT Hello All First time investor here I was considering to invest out of my home state of NJ. I was considering investing in a brand new house in Indiana 30 minutes away from Indianapolis. Is the job outlook, population etc. an attractive market for renter/buyers? [link] [comments] | ||||||||||||||||||||||||
| How do investors jump to commercial from residential? Posted: 29 Apr 2020 12:27 PM PDT Is it after enough capital is built up or is it another way? [link] [comments] | ||||||||||||||||||||||||
| With rates so low, are you refinancing? Who will you refinance with? Posted: 29 Apr 2020 03:06 PM PDT Thinking of refinancing an FHA property that have so I can get a lower rate(currently 4%) and get rid of my PMI now that rates are at all time lows, hopefully I can also re-use FHA to get another property...How hard is that? Are you guys refinancing? If so, who are you choosing to refinance with? The same company that currently holds your mortgage? Or are you switching lenders? Who are you using? Should I refinance with a local credit union instead of a big bank? Is there any benefits to this? [link] [comments] | ||||||||||||||||||||||||
| NV - Question on refi and "Liability after Foreclosure" Posted: 29 Apr 2020 09:05 PM PDT I've got some refi paper work that will lower my rate from 3.25% to 2.75%. It starts my loan back at 30 years but the monthly payment drops $100 or so a month. This allows me to increase my cash flow buffer while lowering my rate so I am very likely to go this route. However, the current loan fails under when I lived in the property. With this state law limits my liability to #1 below. The terms on the new refi (with tenants as a rental now) state #2, that I am not protected by state law from foreclosure liability. Thoughts on if I should I go through with this? Do I actually lose protections or does it not longer matter as a rental. Is my risk low if say my equity is now 25% of the properties value? Only think I can think of is tenants burning it down, my insurance somehow not covering it, and the tenants not having anything I can go after to cover damages. If this senecio I might chose to walk away from the loan and may/may not be protected. Text: "Liability after Foreclosure: If your lender forecloses on this property and the foreclosure does not cover the amount of unpaid balance on this loan, 1) state law may protect you from liability for the unpaid balance. If you refinance or take on any additional debt on this property, you may lose this protection and have to pay any debt remaining even afterforeclosure. You may want to consult a lawyer for more information. 2) state law does not protect you from liability for the unpaid balance." [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 08:18 PM PDT I am graduating my MBA program this May and want to buy a house in the college town. Real estate value has skyrocketed in my years here, student housing is getting more expensive, school itself growing. Market is ripe. I don't know much, but I will regret not pulling the trigger. I will be back in town frequently as I don't live too far away. I have a few houses in mind, and will be attending showings Saturday. What should I be looking for when we see each house that I wouldn't find on a typical google search? Specific questions to ask? General "red flag" issues that I should check for? Anything would be appreciated! [link] [comments] | ||||||||||||||||||||||||
| Apps/webapps to invest in Real Estate Equity Posted: 29 Apr 2020 08:37 AM PDT Hi all, I was wondering if there are online crowdfunding platforms where it is possible to invest in (micro) equity in Real Estate projects. I mean: websites that allow for crowdfunded real estate investments, where the single small investor is also partly owner of the property. And he get's paid either when he sells (if he finds a buyer) or on a deinvestment date that was agreed for the whole project beforehand. Have you ever heard of something like this? [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 10:58 PM PDT The world is over for right now. All money and assets are in a super cycle of value loss. Anyone who thinks a price that was legit for a home in February of this year and expects that to be the value of the home next February is living in a fantasy world. I mean here's a simple example. Wait for the glut of AirBNB houses to go into foreclosure next quarter and scoop those up at a discount. No ones renting those places and the owners are over leveraged to the max. I've already contacted and super renter on the site and let them know I would buy their portfolio if and when they can't make it anymore. At a giant discount of course. You think 50 million of the unemployed have 90 days cash to ride out the storm and wait for their jobs to reopen so they can work again and pay you rent???? You are nuts. They don't have 30 days of money. We're only 30-40 days into this no job shut down reality. Buy what you want. But it better be all cash and get ready to eat a 25-45% loss in your equity over the next 2 years. The survivors in this will have no debt and can rent their doors at 100-200$ less per for than your broke butt can. [link] [comments] | ||||||||||||||||||||||||
| How to search for all SMF or Duplex's in a specific city/neighborhood Posted: 29 Apr 2020 01:06 PM PDT Is there a free way to locate all SMF or Duplex properties in a specific city/neighborhood. MLS works but it doesn't show properties that are NOT for sale. I looked through the state tax assessors site but no luck. Any ideas? [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 03:17 PM PDT Im not sure if I'm in the right subreddit, but I had a quick question. So I bought an investment property that needs some work. Im worried that the appraisal will be too low. The house is in descent shape but one of the rooms is missing carpet and only has concrete. I was wondering if putting carpet in that room would make a difference in the appraisal. One of my friends said that it would be good, because it would make that room livable and increase the appraisal value. Should I install carpet? does adding carpet add significant value to the appraisal? [link] [comments] | ||||||||||||||||||||||||
| How do you think short term rental owners would switch to long term rental market? Posted: 29 Apr 2020 06:39 PM PDT | ||||||||||||||||||||||||
| When getting HELOC do they come estimate the house? Posted: 29 Apr 2020 06:10 PM PDT I am in Los Angeles and trying to get a $30000 home equity. Do they come look at the house for this? [link] [comments] | ||||||||||||||||||||||||
| Refinance opportunities? Maybe not worth it? Posted: 29 Apr 2020 11:54 AM PDT I have two SFH rentals. One at 4.25% with 27 years left. The other at 4.875% with 20 years left but also a 5.5% HELOC in second position. I keep hearing about the 3% rates people are getting on their owner occupied. Of course investor loans have higher %. Are people seeing investor loan interest low enough that it would make sense to refinance? The HELOC probably complicated things. A broker once told me to not refi unless it was at least a 1% reduction. [link] [comments] | ||||||||||||||||||||||||
| When to buy an investment property? Posted: 29 Apr 2020 05:49 PM PDT I have been itching to go into real estate investing either by buying a SFH or Duplex/Triplex. I have enough down payment to make a move but idk when would be a good time to make my move. Looking at how COVID is handled here in the US. I am almost certain this will be a loooooong road down. I also am afraid to buy now that landlords can't evict tenants, seems like the ball is never gonna be in my court. Any thoughts? [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 05:09 AM PDT Hello all you cool cats and kittens! My wife and I are expecting our first daughter in July, long story short, my wife's grandmother gave my brother and sister in-law 1,000$ last year for their daughter being born (to start a college fund). My wife and I anticipate getting the same gift as well. Our plan is to buy her a house and we manage it until she is in the 18-20 year old range, setting aside that cashflow for her over that time period, and then gifting the house to her. Here is my question, is it possible to put the title in her name when she is born with us or our LLC as co-signers (obviously she hasn't had time to build her credit or save for a down payment yet. Maybe by two she could). Or should we put it in our names, and then transfer the title later? [link] [comments] | ||||||||||||||||||||||||
| Help me think through this refinance Posted: 29 Apr 2020 01:18 PM PDT
Above are the main details. Just wanted to throw this up to the crowd and see if there was anything I didn't think of and what peoples opinion is. I can buy down the rate more of course. What I gain:
What I lose:
Im really trying to dial in the question of "Do I care to not have a paid off mortgage in 25 years?" as that seems to be the biggest downside. And the answer is most likely "no I dont care". 25 years is a long time and Im not sure Ill keep it that long anyway; I get real cash flow in the interim; and Ive been really lucky with appreciation since I bought it and that makes me feel better about lost amortization and not having a paid off mortgage in 25 years. Selling it in the mean time should net me much more than I ever anticipated. WHAT WOULD YOU DO? [link] [comments] | ||||||||||||||||||||||||
| Posted: 29 Apr 2020 04:46 PM PDT I have an FHA loan right now that is up at the end of september. I wanted to get another property a little bit sooner. Quite frequently there's a 60 day timeline for moving into a new owner occupied purchase, so I could buy at the end of july and move in at the end of september after it's been one year since my FHA loan acquisition. [link] [comments] | ||||||||||||||||||||||||
| I have a home owner that wants to quit claim me his half of a property for 5k Posted: 29 Apr 2020 04:43 PM PDT He and his ex girlfriend bought the property in 2001. The original mortgage was for 81k remaining balance is 50k. House worth 200k. No liens, ex has been paying the mortgage and taxes this whole time. I guess my plan is to just sit on the property indefinelty or sell my half to the ex. I don't think I'm interested in attempting a partition sale and forcing her out. Most likely I would purchase it through a Florida land trust Is there anything I have to be careful of or something that can end up biting me in the ass? Is there any reason why the ownership wouldn't be 50-50? Any insight appreciated. [link] [comments] |
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