Real Estate Investing: If not an LLC, how do you protect your personal assets and keep your finances separate? |
- If not an LLC, how do you protect your personal assets and keep your finances separate?
- Property managers, what are some inefficiencies you have had with owners or renters?
- Wheres the best internet source to search for Duplexes and Triplexes ? I feel like Zillow is full of s**t
- First time home buyers looking to take advantage of the VA loan. What should we know?!
- How do you raise the rent?
- What can you do with a BA degree with an Emphasis in RE?
- Messed up deal
- Perspective on my First duplex
- California
- Owning rentals out of state, yay or nay?
- How hard is it to become a realtor in Texas?
- Land to Construction Loan.
- Replaced main sewer drain
- Higher rent for renewals over new tenants?
- Renting out paid off house
- Is owning many rental properties considered one stream of income of multiple streams?
- Using student loans to pay rent?
- College Student + FHA Loan Questions
- Buying and Renting an apartment.
- Proximity to Manufactured Home Park Property Values
- New construction home on town home lot (you don't own the land)
- Building out or building up
- Leveraging debt (Portfolio loan vs Non-conforming loan)
- Using a company to purchase an apartment
| If not an LLC, how do you protect your personal assets and keep your finances separate? Posted: 16 May 2020 07:50 PM PDT My mom and I are trying to start investing in real estate and originally planned to start an LLC and purchase properties through it. However, I'm hearing that when just starting this might not be the best approach. Instead some people have mentioned putting properties intro trusts and getting umbrella liability insurance. My Questions:
For reference we're planning to start in Texas. Thanks! [link] [comments] |
| Property managers, what are some inefficiencies you have had with owners or renters? Posted: 16 May 2020 11:43 AM PDT What are some negative experiences you wish you could fix in your job? What makes your job hard basically. I would love to know. Thank you! Edit: guys I'm a student at a university gathering information on property managers for a class project. I cannot build an entire saas platform. [link] [comments] |
| Posted: 16 May 2020 05:37 PM PDT |
| First time home buyers looking to take advantage of the VA loan. What should we know?! Posted: 16 May 2020 06:49 AM PDT My fiancée and I are starting to look into homes to purchase after we get married in November. We are in a high cost of living area just outside of NYC. What are some things we should know? I would love to try to buy a home that has a ground floor rental unit... [link] [comments] |
| Posted: 16 May 2020 11:28 AM PDT I've had rental properties for 15 years now and never raised the rent on a tenant. If rent needs raised, I wait until a tenant moves out. I have some long term tenants now that are going on 5 or 6 years. How would you handle this? Leave it the same or raise it? If raising it, how do you go about it. [link] [comments] |
| What can you do with a BA degree with an Emphasis in RE? Posted: 16 May 2020 09:47 PM PDT Real Estate Jobs I'm currently a sophomore(at CU Boulder) pursing a bachelor's in business administration with an emphasis in real estate. I'm wondering, so I at least have some idea of what I'm want to do after college, what are the jobs that you can do with a BA Real Estate degree? I know there are a lot of jobs related to real estate but what is worth looking at? What jobs allow you to make a good amount of money, making my degree worthwhile? Also, is it worth getting a masters? I've heard it can help you get a more high ranking positions for example being an senior acquisitions/analyst specialist rather than starting out as an analyst and working your way up to the senior position. [link] [comments] |
| Posted: 17 May 2020 01:20 AM PDT I want advice. I'm in San Francisco Bay Area and bid on an estate sale property. This was a desirable fixer upper in our neighborhood. It attracted multiple offers. We were the highest, no contingencies by 50k (this is 100k over asking price). They threw all offers to wind and told everyone come back tomorrow with your best and finial. We came up to be competitive another 50k (now 150 over asking). We learned we didn't get it and they wouldn't share any details, didn't bother to counter. Nothing. New owner comes by to meet the neighbors 2hrs after the bad news and tells me what he paid. It was the exact same number as us! I called my agent and said WTF! He goes that guy lied, but wouldn't clarify or give any details. I think something fishy took place or it was discrimination. The real estate agents buyer and seller are acting funny (they are partners), the lawyer supposedly overseeing the estate manager was absent from all sessions with the real estate agents. Absolutely no reason not to counter. [link] [comments] |
| Perspective on my First duplex Posted: 16 May 2020 08:58 PM PDT Has anyone purchased or experienced owning a duplex/triplex in Compton? [link] [comments] |
| Posted: 17 May 2020 12:03 AM PDT A friend of mine has a very elderly neighbor in her late 80s who I recently learned is having her house up for auction June 1st before the bank tanks ownership of it. From what I can tell, she doesn't have family around. One of her sons passed away about 10 years ago and the other lives on the other side of the country and hasn't been around for 8 plus years. I have not spoken with her and I have no idea what her plans are, but I did look online and she seems to be about $26,000 behind on payments, but the remaining loan is just over 100,000 and the house is worth 700k-$800k. It definitely needs some work and upgrades, but it is a beautiful five-bedroom house on half an acre and would have a ton of equity. What prevents someone like me paying her up mortgage and selling the house to me vs losing it to the bank? There is an upstairs level that has its own entrance (not sure upstairs would work though) and I have not been inside. I wouldn't want to take care of her but would be fine with her living there for a year or two until I could help her find resources or she went to a home (the house is pretty big). I know this has a fluke chance of happening, but it got me curious about the laws surrounding this situation and I'm sure I'm not the first person to have this though. [link] [comments] |
| Owning rentals out of state, yay or nay? Posted: 16 May 2020 11:27 PM PDT I don't have many options where I live so what's your take on buying rentals else where? Do you guys have a max distance when looking? Does anyone have experience in out of state rentals?The biggest con I see is not knowing the neighborhood and getting myself in trouble. Let me know what you think. Thanks! [link] [comments] |
| How hard is it to become a realtor in Texas? Posted: 16 May 2020 10:42 PM PDT What are the steps you take to become a realtor? How often do you have to renew your license? Any info would be helpful. Thanks! [link] [comments] |
| Posted: 16 May 2020 05:28 PM PDT Greetings all. My wife and I own a some land we're thinking about building on. I have a question for you all and hoping to get some advice. We're in the very baby steps of this process. Our realtor is telling us some stuff I just don't see being accurate. I also don't know much about this process. I'm learning and reading as I go. I could be wrong.
My question is, if we're able to get city water (which we are) why are they testing for septic areas or tank or is this a percolating test to even make sure we can build on the land. [link] [comments] |
| Posted: 16 May 2020 07:35 PM PDT Wondering how many landlords have replaced their main sewer line in any of their rentals, and how much was it? I have two rentals that have tree roots in their cast iron drains. I clean them once a year but I know it's borrowed time. What were the circumstances that forced you to replace it? [link] [comments] |
| Higher rent for renewals over new tenants? Posted: 16 May 2020 06:56 PM PDT I'm a tenant, not a landlord, but hopefully I can get my question answered here. The rent I pay for my current apartment is $1,195. My lease is up for renewal, and my offer letter says that the new rent goes up to $1,245. Fair enough, except I saw an advertisement targeted to prospective new tenants for the exact same floor plan for $1,205 ($40 cheaper). Also, there is a deal for new tenants where the first month is free with a 15 month commitment, but this free month deal is not available to renewals. I've been a model tenant (always paid on time, no issues, etc.), so I don't think they are trying to get rid of me. Is it normal to charge renewing tenants more than new tenants? I just don't understand the point of that. I like my apartment and would like to live there another year, but it doesn't seem fair to pay more than a new tenant would. I haven't signed the new lease yet - do you think I would have much success if I try to negotiate it? [link] [comments] |
| Posted: 16 May 2020 06:16 PM PDT My family's house is paid off and we have been discussing if we should rent it out because we cannot afford it anymore due to high property taxes ($8,400 a year) and our house is worth about $300,000 and has 4 bedrooms. I put our address into rent o meter and it said the average rental prices near our area was $1,800. After we rent it out we would move in with a family friend and not pay any bills except car insurance, health insurance, dental, etc. The only problem is we have no experience in renting out our home, finding the right tenant, and all that other stuff. Also this might sound like a dumb question but if the rental prices near our area were $1,800 would we divide that by the 4 rooms and charge $450 each or would we just charge $1,800 for everything. [link] [comments] |
| Is owning many rental properties considered one stream of income of multiple streams? Posted: 16 May 2020 05:07 PM PDT Just curious what you guys think. We are financially independent thru our RE investments. Got many units cashflowing. Is each unit considered its own revenue stream of income or are they all considered just one stream? [link] [comments] |
| Using student loans to pay rent? Posted: 16 May 2020 04:29 PM PDT I have a rental property next to a college and my favorite potential tenant told me that he uses a student loan to pay rent. I've never encountered this before. He is an older transfer student (32) and doesn't have a job or parental support (I believe). How can I verify that he has the money for it or even has a loan? Can I request a letter or something from the bank? How can I protect myself in this situation? Can I request more upfront or set up some payment system with the bank? [link] [comments] |
| College Student + FHA Loan Questions Posted: 16 May 2020 04:17 PM PDT There's this home I'm looking to buy - 75K asking price. 4 BA, so 3 are available to rent out for the first year, then four. Law of 2% states it should generate close to $1500/month or $375/bed. Just running numbers right now and it seems that it would make money... but then I realized MIP's. 1.75% Upfront (or rolled into the loan? Not sure how that works) plus a 3.5% downpayment (4k up front) + 0.85 monthly ($638/monthly). For 11 years?! If I do the 30 year plan. The house was built in 1955 but seems to be in good shape, with people currently living in it. So roof is my only concern. Perhaps I'll give the carpets a good professional cleaning but yeah. I'm just concerned about the numbers and would love for someone that can help me figure this out. I just don't see a way for this to be profitable. [link] [comments] |
| Buying and Renting an apartment. Posted: 16 May 2020 04:07 PM PDT Is buying just one apartment and renting it a good investment? Since I might live in it someday in the future. I'm 24 [link] [comments] |
| Proximity to Manufactured Home Park Property Values Posted: 16 May 2020 03:21 PM PDT Does anyone have any experience with lots and homes in close proximity to a Manufactured Home Development? I'm eyeing a lot for a SFH build, vacation and short-term rental. The greater geographic area has high demand, and the target property is not within sightline of neighbors once you are there, but you basically drive thru it on the way to the property (shared road). In this part of the country, Manufactured Home Parks are very common and some would even say part of the charm. I personally couldn't care less (hence my interest), but it would helpful as I prepare to write an offer for the land, and in the event I refinance or flip it, what the market would say about it not being located in a traditional site-built neighborhood. I've read two studies that seem to say maybe, yes, values are depressed, but both studies were from before 2000. If I account for say a 15% discount on resale, is this a fair buffer? [link] [comments] |
| New construction home on town home lot (you don't own the land) Posted: 16 May 2020 02:36 PM PDT I'm looking at a new construction home that is being built on a lot that was originally meant for town homes as far as I know. The house itself is 2000sqft 4 BR 2.5BA, two car garage, stainless steel appliances ect. The price is $172,000 and an area that isn't very highly populated but has a decent location between 2 major cities and it right off of the interstate. Housing prices are generally pretty low in the area but I'm guessing that it's an area ripe for development, and good for a long term hold. I was told that I'm only buying the house, and I won't own the land that it sits on. I'm wondering how common this is and how much that will impact the future value of the house. It's basically a town-home, built like a stand-alone house, with $30 HOA and all. My worry is that when I go to sell it down the line, the buyer's mortgage lender will request an appraisal, so how do I know if $172,000 is a fair price now? Apologies for incoherence [link] [comments] |
| Posted: 16 May 2020 08:51 AM PDT Looking to add sqft into a small 1000sqft 2b1b ranch. What is more efficient when looking to build beds and baths - out (ie. beyond current footprint) or up (ie. putting in a couple beds and a master bath upstairs? Anyone have suggestions for what to consider as I begin to price out options? [link] [comments] |
| Leveraging debt (Portfolio loan vs Non-conforming loan) Posted: 16 May 2020 12:22 PM PDT Leveraging debt (Non-Conforming vs. Portfolio loan) Hello REI community, What are the main differences between a Non-conforming loan and Portfolio loan? As it turns out, investors with more than 10 properties do not qualify for Fannie Mae conventional loans (fixed 30yr, 15yr, FHA, VA, etc) and a way to leverage debt is by using portfolio lenders. [link] [comments] |
| Using a company to purchase an apartment Posted: 16 May 2020 12:17 PM PDT [Based in the EU] I'm curious as to whether anyone has used a company to purchase an apartment and take on some debt: the issue for me is that I have a good amount of collateral but the company would only have a stream of income once I purchase an apartment and rent it out. Wouldn't I just get laughed out of the bank if I tried to borrow? How do I get past this chicken and egg issue? [link] [comments] |
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