Real Estate Investing: Hate email after rental posting |
- Hate email after rental posting
- A newbie question: is 900 dollars high for appraisal fee in San Francisco for mortgage refinancing?
- Cashflow and ROI calculating spreadsheet (excel)
- Land Note Investing - What's the Catch?
- How do you estimate rehab costs without seeing inside?
- I made a spreadsheet analyzer
- First rental. Thought I was made
- My real estate agent folks, did you guys have self doubt and lack of confidence in the beginning?... Hearing your personal story shared, and absorbing anything I can pick apart from it, would mean a lot. From downfalls to your successes, to where you are now. Hope everybody is healthy...
- I'm semi-nomadic. What are the "primary residence" rules to qualify me for the $250,000/$500,000 home sale capital gains tax exclusion?
- I want to start to invest in realestate. how do you started?
- HCOL vs LCOL
- Over-leveraged House prime for redevelopment in college town - What to do next?
- First potential investment property
- Can i use the EIDL loan for a hard money loan?
- How distressed should a property be?
- How to Budget for Updates to Investment Property?
- Can you house hack a single family home?
- Getting started with my current house or buy a new property?
- Germany real estate exp asf compared to US, why?
- What does it mean when a lot has extensive list and sell history.
- Help determining if house is a good rental
- I’m looking at getting into real estate but I don’t have access to much startup funding but my credit is good. I found a strategy that seems risky but I wonder if it’s worth it.
- Buy then sell? Sell then buy? Rent as investment and then buy? How do I manage my real estate??
| Hate email after rental posting Posted: 27 May 2020 06:28 PM PDT Okay, So I recently posted a rental on Craigslist and received my first hate email. The house was just fully remodeled and to be honest is priced fairly reasonably. 3 bedrooms in this town go for 1600-2100, where this property is a 4/2 and listed for 1950. Has this happen to anyone else ?! Do people have more time on their hands during the pandemic and need an outlet? 😂 Email- "On a true-value basis, you're charging about three or four times what that place should be worth. It's a common phenomenon--it's called the Great American Lie, and it's what creates "bubbles" that burst and shit all over everything underneath. (Under the Great American Lie, everybody grabs and grabs and grabs and grabs, and they all grin while they're b***-fucking each other.) I think the pandemic is going to make a lot of people a lot smarter--probably not you, but you're too fucking greedy to matter. If you couldn't le*ch off other people's hard work, you wouldn't have one stinking thing." [link] [comments] |
| A newbie question: is 900 dollars high for appraisal fee in San Francisco for mortgage refinancing? Posted: 27 May 2020 09:35 AM PDT Got a quote from our lender. A single family appraisal fee is 900 dollars. Not sure if it is high... [link] [comments] |
| Cashflow and ROI calculating spreadsheet (excel) Posted: 27 May 2020 05:46 PM PDT I ended up making this spreadsheet to calculate estimated/actual cashflow and ROIs last night to help me quantify the property I own rn versus cashing out equity and reinvesting it. I hope ya'll find it helpful, and grateful for any feedback. The inputs have been highlighted yellow for simplification; with just a little info you should be able to estimate your cashflow (before + after taxes), equity growth, and future potential. The second tab can help determine actuals from past years (assuming you have broken out figures) but the tabs are independent of each other. [link] [comments] |
| Land Note Investing - What's the Catch? Posted: 27 May 2020 06:52 PM PDT The recent sticky about the passing of Jim Napier inspired me to read the book "Invest in Debt: The "How To" Book on "Buying Paper" for Cash." This book was written in 1983 and describes how to buy mortgages and basically become the bank. You can collect interest and foreclose on people for non-payment. The book is an excellent, easy read, and I have barely been able to put it down since last night. I am nearly done with it. I decided to search the internet where I landed on paperstac.com - a site that facilitates note buying transactions. I stumbled upon a few notes that are backed by land. Now I am wondering if there is something I am missing? It almost seems too good to be true. Some of the reasons why land is attractive to me:
This seems like all of the returns from being a landlord with none of the headaches. Even the Cash on Cash returns seem better - but with no liabilities. What makes it a bad idea? [link] [comments] |
| How do you estimate rehab costs without seeing inside? Posted: 27 May 2020 08:27 PM PDT When you're buying at auction and aren't allowed to enter the property, how do you estimate what it will cost to rehab it? Do you assume a cost per sq ft? Per BR? A percentage of (your projected) price? Just curious how different people approach this. [link] [comments] |
| Posted: 28 May 2020 02:08 AM PDT Hey everyone, After failing to find a spreadsheet that simply plugs in numbers, I made one myself. I don't have an investment property yet, but I'm planning on going into the military soon as an officer and will get the opportunity to use my new calculator. Until then, I hope you enjoy. If you have links to any other spreadsheets that are useful, I would love to know. Mine isn't organized super well but it's based on The Book on Rental Property Investing from Bigger Pockets. My spreadsheet isn't exactly the most neat thing on the planet, but the cells in which you can input numbers are highlighted in green. Let me know if you have any feedback. https://docs.google.com/spreadsheets/d/1TMnozxGFcx5amEDxMI-eVIofXtTkcwlnkatuBys5LY4/edit?usp=sharing [link] [comments] |
| First rental. Thought I was made Posted: 27 May 2020 02:05 PM PDT I'm converting my primary into my first rental this year. Fair market rent is about $1600. My mortgage is about $1200. Thought I was made Now I'm considering the lawn care, insurance home warranty. Almost 0 vacancy in my area. Cap expense, black swan unknown. Am I sunk? Is this margin way too low? [link] [comments] |
| Posted: 27 May 2020 07:22 PM PDT Real estate is 100% what I want to do. It wasn't my original dream career, as I originally was on my way to becoming an MD, but unfortunately, physical health which turned to mental health issues kept me from getting through med school. I am studying for my license exam now. I took a year to educate myself about the career (the pros/the cons), I've read countless books. This is what I want to do. I just haven't taken my first step yet, and I guess the residual "feeling like a failure" vibe because I couldn't make medical happen has my confidence a little shaken (it was only 16 months ago when I took my permanent leave). I won't lie, I have the type of mind, that creates very high levels expectations. I won't lie, I want to one day be making the $300k plus yearly income like a lot of you "big dogs". But I also want to study and master the craft and most importantly FALL in LOVE with the craft. I expect to fail, I don't expect to come out the gate making $100k. But I do expect to grow, and I won't accept not reaching levels I set out for myself. I'm scared, my confidence has been really shaken the past couple years, but I'm willing to get to work and start putting in the grind... Thanks for anyone who shares the story! And again, I hope whoever reading this, is healthy as well as your loved ones... [link] [comments] |
| Posted: 27 May 2020 07:03 PM PDT So far, I read that if I lived in the home for 2 years out of the last 5 years before selling, then I qualify for the exemption. That comes out to about 731 in the last 1826 days I owned the property. Some say that whether the 2 years came before I rent the home or after matters. Others say it doesn't. Also is it literally, the exact number of days I lived in the home, or is there a cutoff for the fiscal year, say if I only lived there for 60 days in a year, that 60 days don't count? How is it enforced? Let's say I have it registered as my primary home, physically there for 60 days then go travel overseas for 90 days then return. Or there is an emergency and I go to another state or country to be with family. Or an extreme case, I decide to do stay at a friend's house for a month... How does the irs count the number of days towards the test when it's my primary home but I'm not physically there for temporary reasons? [link] [comments] |
| I want to start to invest in realestate. how do you started? Posted: 28 May 2020 12:16 AM PDT i want to start to invest in realestate. how do you started? [link] [comments] |
| Posted: 27 May 2020 12:49 PM PDT I am looking at house hacking in a multi family then renting after a couple of years. I have a few cities of different levels in my immediate area to choose from. I know I will need to potentially look at tax structures and what not but ignoring that, if the monthly cash flow dollars (not percent) is the same for similar condition and size properties would you consider a higher cost city closer to a major city or a smaller city farther but also cheaper? I know this dumbs down a lot of context which is important. I'm just trying to see what different viewpoints are. I have not seen much analysis regarding this assuming numbers are the same, just percentages. A lower cost property might make future properties easier to finance based on my income and it would be easier to absorb vacancy in my income when I'm not living there. Those are things I will plan for regardless though. That is the only thing that I can think of. At the same time a high cost of living will probably win on appreciation ( I'm trying not to put too much weight on that) and if I basically hold it for a long time will be worth more on sale. [link] [comments] |
| Over-leveraged House prime for redevelopment in college town - What to do next? Posted: 27 May 2020 07:52 PM PDT I own a house in a college town that I rent by bed. Built in 1955 (comes with all the maintenance issues you would expect.) 5 bed 2 bath. 8 beds rented to college kids. The house is directly across the street from campus. The university has a Title 9 that my property is not a part of. Because of the Title 9 big developers come in and knock down old houses for large apartments all the time. Family helped me purchase the property and pay for some improvements to meet building code before we rented it. Their money is a loan to me. Between the mortgage and the family loan, the property is over-leveraged (probably underwater.) Tenants have trashed the place so I'm not getting new tenants. Rents are low (even at market value), and turnover is high, so management companies don't want to deal with it. I've had it listed for sale for more than a year, have had a few low ball offers, but nothing that will pay back the mortgage and family. I need to do something with the place. What would you do? Edit: spelling errors [link] [comments] |
| First potential investment property Posted: 27 May 2020 06:05 PM PDT I have about $25k to use on an investment property. I don't plan on living in it although that may change if my partner and I separate, doubtful but you never know. I currently live in a home with my partner who owns it. I have never purchased property. I'm in Miami so prices are relatively high. I've been told by mortgage broker that I need a 20% down payment for an investment property and must have a mortgage as an investor. This severely limits my options to purchase. It would be in an extremely low income area which also limits financially sound tenants. Not sure if relevant but I have good credit but high debt ratio only because I have professional student debt. I'm not sure how to proceed. Any thoughts? Thanks! [link] [comments] |
| Can i use the EIDL loan for a hard money loan? Posted: 27 May 2020 05:34 PM PDT i run a real estate investing business i mainly do fix and flips. i was wondering if i can use the EIDL loan from the SBA to get a hard money loan/bridge loan since i need to use the funds for bills and payroll and expenses to keep the business afloat? i.e flipping houses. [link] [comments] |
| How distressed should a property be? Posted: 27 May 2020 06:07 AM PDT I always here (mostly in the BRRRR method) how you need to buy distressed properties but how bad of shape do they need to be in? Can semi decent properties be cashed out too? [link] [comments] |
| How to Budget for Updates to Investment Property? Posted: 27 May 2020 11:18 AM PDT We're currently renovating our community of 2-4 bedroom patio homes (80+units), but we are also updating our leasing office (which is essentially another 3-bedroom unit, but set up as a leasing office). The renovation decisions are made and budget is set for that aspect. But we are also doing a full refurnish of the leasing office space (living room, kitchen, dining (which is being used as an office), and front bedroom). I have no idea how to budget for this. Does anyone have any suggestions? I hate to tell them that it "needs to be reasonable." Since that varies widely person-to-person. It's in a LCOL area (monthly rent ranges between $1300-$1600/unit) I have asked our property management group if they have an idea of budget based on the scope of the update, but am waiting to hear back. I would appreciate if anyone has any feedback or go-to guides for setting a budget for furnishings. Also, has anyone used Wayfair Professional's Design assistance? I really need someone else to take lead on this as I am busy with other projects, so I decided to give them a go. Any other recommendations for design services is appreciated. [link] [comments] |
| Can you house hack a single family home? Posted: 27 May 2020 04:53 AM PDT Hey guys! Looking at some options to get started and wanted to know if you are allowed to house hack a primary residence. If I put 5% down on a new 4 bedroom, can I legally rent out the rest of the rooms? Or do they need to be separated units? [link] [comments] |
| Getting started with my current house or buy a new property? Posted: 27 May 2020 10:54 AM PDT I am looking at real estate investment but I am curious on how I should proceed. I am 27 years old and have a sfh that is completely payed off. My wife and I have talked about moving and using our current house as a rental or we might stay here and get a LOC for a down payment on a property to rent out. Im trying to figure out which option would be best. Does anyone have any tips or suggestions? [link] [comments] |
| Germany real estate exp asf compared to US, why? Posted: 27 May 2020 01:53 PM PDT I am a young boy and I somehow don't get it. I've compared a lot of rentals in us and germany. If I buy a house in germany for average $ 350k I can expect a rent of $1k without deductions. But with these $350k I could find a lot better rentals in the US and I could get more rent out of it. [link] [comments] |
| What does it mean when a lot has extensive list and sell history. Posted: 27 May 2020 04:59 AM PDT I'm looking at a lot for sale and it has an extensive list/sale history. For example: Listed 4/2020 $220k Sold 2/2020 $145k Listed 10/2029 $169k Sold 6/2018 $125k Sold 2/2015 $65k Sold 1/2015 $52k Sold 3/2007 $560k This is kind of insane! I don't normally buy lots and I'm interested in your thoughts. [link] [comments] |
| Help determining if house is a good rental Posted: 27 May 2020 09:43 AM PDT Hi there. I'm a home owner considering renting or selling my house. I'd like to keep it if renting doesn't cause me to be cash negative. I'm very new to all of these calculations to figure out all monthly expenses and determine the estimates earnings - is there a good website or agency I can pay to work the numbers with me? [link] [comments] |
| Posted: 27 May 2020 01:04 PM PDT This guy states that this is a super risky strategy but it also sounds like it would work and at least let me get my foot in the door. What do you guys think? https://youtu.be/l4-cnCAPDzA [link] [comments] |
| Buy then sell? Sell then buy? Rent as investment and then buy? How do I manage my real estate?? Posted: 27 May 2020 08:01 AM PDT Ok..... Married couple in Phoenix AZ, 1 toddler and 1 on the way. Our current home is getting crowded and we're ready for a new neighborhood. Current mortgage: $84k ($800 per month) Estimated Listing Price: $325k Estimated Monthly Rental Rate: $1800.00 Loan Pre-approval: $510k We have zero debt. Ideally, we'd like to use the equity of this home for a new home. Approximately 220k deposit. But buying with Contingency is almost impossible. We have savings and can put 10% down until our home sells, then recast the loan or wait a few months and try to refinance. 10% down = higher monthly mortgage AND PMI 20% down= nearly unrealistic and would destroy us until our house sold In the end, we are aiming for a 15 year mortgage with 2.5% ..... IF at all possible. (220k down keeps our monthly payment reasonable) We could sell our home now and rent until something comes along to increase our purchasing power and have a stronger offer than 10%.... But that seems insane with a toddler and a new baby on the way. Moving twice and not knowing how long we could go without a stable home. Phoenix market doesn't appear to be slowing down. And interest rates seem stable despite being so low. Homes being listed are usually under contract in 48 hours. Real estate agent says that SO many people are fleeing CA and coming in with full cash offers above market price and that many homes are gone in 24 hours. It's the perfect time to sell.... But miserable & stressful time to buy. So I'm not sure if we should continue living in this home and keep saving up for a bigger down payment. And evaluate again in a few months or a year. Sell this house now and keep looking. Rent this house. ( would be nice rental income, but is the juice worth the squeeze? Upkeep, dealing with renters, foregoing the equity for a deposit) We are pretty clueless when it comes to investing. We have money in the bank but it's not earning us anything extra. I figured real estate is the best option....? Especially with the desire to move and rates so low. [link] [comments] |
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