Real Estate Investing: Redfin CEO predicts big shift to smaller cities as remote work takes hold |
- Redfin CEO predicts big shift to smaller cities as remote work takes hold
- Musings of A New(ish) Landlord
- Ever tried to buy a house and its owner?
- With LA extending shelter-at-home for 3 more months, how will people pay rent?
- Monthly rent for units around college campuses
- BRRRR and refinancing
- Making an all-cash offer on a not-on-market home to a buyer that may have hard feelings towards me.
- Can you suggest a good book/website for residential income property?
- Do you kick out a tenant when buying fully loaded a duplex and you want to live in one side?
- NYT: Manhattan Faces a Reckoning if Working From Home Becomes the Norm
- Any of you guys know if international investors are allowed to buy HUD homes?
- Beginner - should I buy my first property or wait?
- How to "short" the real estate market?
- As Someone New, What Type of Property Should I Start With?
- How do I find investors?
- Investors who started without any money.. how did you do it?
- NEW to investing: interested investing in rental properties. Good idea or bad?
- So I’ve done the “wholesaler” thing and I’ve found 2 houses for myself. Bought, rehabbed, life is good. Now I’m wondering how you would pitch if you had one sentence?
- REI discords?
- Help regarding starting an LLC for real estate
- What is your typical flip ROI?
- Cash-on-Cash Return (CoRC) vs Compound Annual Growth Rate (CAGR) - First time investors
- For those with C cops or LLC as investment companies, what type of loans do you guys get?
- New Construction SFRs (how to market)
| Redfin CEO predicts big shift to smaller cities as remote work takes hold Posted: 12 May 2020 04:09 PM PDT The rush to crowd into cities to be closer to tech jobs could be a thing of the past in the wake of the COVID-19 pandemic as more people embrace remote work and flee close quarters. And Seattle-based real estate company Redfin is "preparing for a seismic demographic shift toward smaller cities." I can certainly see this happening for the next few years, but hard to see this as a long term trend [link] [comments] |
| Musings of A New(ish) Landlord Posted: 12 May 2020 08:11 PM PDT This year I jumped up from 3 to 5 units. Since bringing numbers 4 and 5 online, my "brain damage" has really jumped up. There's been a good amount of deferred maintenance on the new units and misc stuff on the ones I already owned. An example would be: recently in my area we experienced some flash flooding and one of my tenants called to let me know they had rising water enter the house. More rain was on the way. My dad was nice enough to offer to help me deal with it, so I left work early and we spent the evening digging a trench in the rain. While digging I had several thoughts. 1.) I said I wanted to be in it as a landlord, and even though this sucks right now, I really feel like I'm in it! 2.) I work for myself. If I had a 9 to 5 and a boss, having to sit at work and not handle this "pressing matter" right away would've been anxiety producing. 3.) I 100% believe I'm on the right track for me, not complaining at all (well maybe a little)- but if a friend told me they were just going to put their money in an index fund, take their 7% average return and forget about it, I'd understand. 4.) I live close to my rental and thankfully could just pop over and spend three hours digging. If I was out of state or an hour away, man it would complicate things. 5.) I'm glad I'm currently self-managing and learning the ropes. I question if I'll hire a property manager because on a deal like this flooding, idk that they'd care about resolving it like I cared about resolving it. Thoughts on any of this? [link] [comments] |
| Ever tried to buy a house and its owner? Posted: 12 May 2020 04:15 PM PDT I have 6 Single Family homes, acquired over about 10 years, plus my primary. I tend to pay cash for distressed properties, renovate, rent and then cash out refi for more than I paid. I've sold a few when the equity compelled me to. Recently, I can't find anything to buy. I like to stay in a certain geography and there is a ton of competition on the open market. So I'm wondering how to get more rentals without paying top dollar. Enter crazy idea (or maybe this is old hat here.) 3 of the houses I have purchased were either estates or foreclosed after death. We have several elderly neighbors. I'm considering offering to buy their houses, with them in it, and writing them an evergreen lease. So I'd buy the property with the tenant. They stay until they die (or move) and their kids don't have to worry about selling it. I get the benefit of an income producing property that I didn't have to renovate and hopefully got a good deal on. They get what their house is worth now, like a reverse mortgage in one lump sum, with the added benefit of having a landlord to call if something major goes wrong. Has anyone tried this? Any thoughts/cautions? [link] [comments] |
| With LA extending shelter-at-home for 3 more months, how will people pay rent? Posted: 12 May 2020 10:30 PM PDT $1200 stimulus was only worth 3 packs of gum in LA, Im just wondering where will people get the money for rent and food in a very expensive place like LA? [link] [comments] |
| Monthly rent for units around college campuses Posted: 12 May 2020 07:09 AM PDT For those of you that have units specifically around campuses for college students, what do you do with the vacant units during the winter/summer? Is "loss" of rental income for those months baked into overall monthly rental rate while unit is occupied? Or do you try to rent the unit out temporarily during the vacant months Airbnb style? Just curious what's worked for others, of if there's a general rule of thumb to follow. Thanks. [link] [comments] |
| Posted: 12 May 2020 08:18 PM PDT I am having a hard time understanding the refinancing and repeat section of the BRRRR model. Or possibly it is just me not fully understanding how a refinance works. If I buy and refinance the first property with cash and then have 100% equity, when I refinance to pull equity out of the home, I will use that cash to buy another home. Now I have to pay back the bank for the first loan and when I repeat this process for the 2nd, 3rd, 4th house, I will have all these loans to pay back for all these rental properties I own. Is this correct? Will I have loans on every property or does a future step eventually lead to paying off all that debt? I feel a little bit lost writing this, so any help is appreciated, thanks! [link] [comments] |
| Making an all-cash offer on a not-on-market home to a buyer that may have hard feelings towards me. Posted: 13 May 2020 01:11 AM PDT I made an offer through a real estate agent on a listed residential property four years ago and the deal fell through. We found a better/more suitable deal elsewhere because the owner was not willing to make any concessions. We did not end on the best of terms. The house sat on the market for many months after, and the homeowner eventually pulled their listing and still lives in the house today. I run a business and the property is uniquely suited and zoned for our business and I would like to approach the homeowner again about purchasing. This time I can make an all-cash offer. What is the best way to approach the owner? Through a real estate lawyer (I have one who is willing to do this, but he can be rather intimidating)? Directly? The thought of direct negotiations sounds awful to me, but I'm willing to do it. Any advice would be much appreciated. [link] [comments] |
| Can you suggest a good book/website for residential income property? Posted: 12 May 2020 09:13 PM PDT I'm interested in buying some residential real estate to provide enough income for me to live off of. I've got some savings and my own condo which I own outright. I'm debating whether to hire a management company or not, and also wondering if it's a good idea to wait a bit for prices to come down. I've been a landlord before, but it was a long time ago. Can you recommend a good book or website for someone in my situation? [link] [comments] |
| Do you kick out a tenant when buying fully loaded a duplex and you want to live in one side? Posted: 12 May 2020 06:55 PM PDT |
| NYT: Manhattan Faces a Reckoning if Working From Home Becomes the Norm Posted: 12 May 2020 08:33 PM PDT https://www.nytimes.com/2020/05/12/nyregion/coronavirus-work-from-home.html Jes Staley, the chief executive of Barclays, the British bank, said that "the notion of putting 7,000 people in a building may be a thing of the past." The company is studying jobs that would be most adaptable to working remotely, a spokesman said, and some employees could be required to show up in person only on an as-needed basis. James Gorman, the Morgan Stanley chief executive, declined a request for an interview. But he told Bloomberg that the company had "proven we can operate with no footprint. That tells you an enormous amount about where people need to be physically." In a recent email to employees, JP Morgan Chase, which until last year had been the largest office tenant in New York City, said the company was reviewing how many people would be allowed to return. More than 180,000 Chase employees have been working from home. Other major companies, including Facebook and Google, have extended work-from-home policies through the end of the year, raising the prospect that some may never return to the office. Twitter, which has hundreds of employees in its New York office in the Chelsea neighborhood of Manhattan, told all its employees on Tuesday that they could work remotely forever if they want to and if their position allows for it. Warren Buffett, the chairman of Berkshire Hathaway and one of the country's most prominent corporate leaders, predicted that the pandemic would lead many companies to embrace remote working arrangements. "A lot of people have learned that they can work at home," Mr. Buffett said recently during his annual investors meeting. New York City has withstood and emerged stronger from a number of catastrophes and setbacks — the 1918 Spanish Flu, the Great Depression, the 1970s financial crisis and the 2001 terrorist attacks. Each time, people proclaimed the city would forever change — after 9/11, who would want to work or live in Lower Manhattan? — but each time the prognostications fizzled. But this moment feels substantially different, according to some corporate executives. The economy is in a sustained nosedive, with unemployment reaching levels not seen since the Great Depression. Many companies are in financial trouble and may look to shrink their real estate as a way to cut expenses. More fundamentally, if social distancing remains a key to public health, how can companies safely ask every worker to come back? "If you got two and a half million people in Brooklyn, why is it rational or efficient for all those people to schlep into Manhattan and work every day?" said Jed Walentas, who runs the real estate company Two Trees Management. "That's how we used to do it yesterday. It's not rational now." Still, workers do much more than fill cubicles. Entire economies were molded around the vast flow of people to and from offices, from the rush-hour schedules of subways, buses and commuter rails to the construction of new buildings to the survival of corner bodegas. Restaurants, bars, grocery stores and shops depend on workers for their survival. [link] [comments] |
| Any of you guys know if international investors are allowed to buy HUD homes? Posted: 12 May 2020 05:20 PM PDT |
| Beginner - should I buy my first property or wait? Posted: 12 May 2020 11:55 AM PDT Hi everyone! I've always been interested in investing and now finally feel like I am ready to take the next step. I have a secure job in IT, some cash saved up, and the market is great right now. Also I live in central NJ for context I found a condo with great rental value so I'm wondering if it would be a good decision to by it on my name. My husband and I currently rent our own place and are looking to buy a primary home - so that can be purchased on his name. My understanding is that there are certain benefits first time home buyers get, so I'm wondering if I should use my first time benefit on a relatively low cost condo vs a more expensive property? Would appreciate any/all advice!! Thanks! [link] [comments] |
| How to "short" the real estate market? Posted: 12 May 2020 03:58 PM PDT Are there any easy ways to short the real estate housing market, if one thought prices were likely to go down over the next 6-12 months? Perhaps shorting some REIT stocks? I'm still not clear what direction I think the market is headed but just curious if there is a way to do this... [link] [comments] |
| As Someone New, What Type of Property Should I Start With? Posted: 12 May 2020 03:40 PM PDT I'm new to real estate investing and I'm looking to purchase my first property soon. I've been looking at some multi family dwellings, but I'm not sure if that would be too much to start with. Do people on here generally advise to start small? Or are there any preferred types of property to recommend? For inexperienced people, can multi family dwellings be overwhelming at first? I'd appreciate any advice from someone who has gone down this road already. [link] [comments] |
| Posted: 12 May 2020 09:36 PM PDT I got accepted as a international property specialist in a well-known Development Corporation in my country and this is my first job because I had to stop going to college due to financial problems and I have no idea how to find investors or buyers of the properties that I sell. Can someone advice me? [link] [comments] |
| Investors who started without any money.. how did you do it? Posted: 12 May 2020 05:46 PM PDT I see real estate investors talking about how they're making all this money from investing in properties, but you obviously need a lump sum of cash right? Has anybody here invested in properties and made profit with little to no capital? [link] [comments] |
| NEW to investing: interested investing in rental properties. Good idea or bad? Posted: 12 May 2020 05:15 PM PDT I recently started a new job (not sustainable, important I'll explain why later) where I make decent money and I'm able to save wisely. I really want to start using the money I earn to invest it in real estate? I don't know much about real estate besides a couple friends who are in it. I've been researching some things about SF rental properties... and also MF but just to start out with - a SF seems easier just to get my feet wet. Is this a good avenue for investment? I'm mainly looking for something that could give me good returns in the next several/ few years - not so much right this second. The 'good' thing is, I'll be partnering up with someone I trust so we will be 50/50'ing everything. We will be starting our own LLC to minimize future legal issues should anything arise and we decide to go our own separate ways. And the reason I mention my job isn't sustainable: I won't be having this job in 10+ years, probably not even in 5 years honestly. So I need to save as much money as I can while I can to invest it into something that can still give me income when the job I have now is said and done. But that also means in 5~ years or maybe less, my income will possibly decrease by a lot, so I also need something that can hopefully supplement my decrease in income by then - and I'm worried my decreased income will prevent me from investing in these properties IF it is successful and I want to invest more. Any ideas or help? Like are rental properties a good investment? I don't really know much about investments at all... I just feel like real estate is more hands on than online stocks etc? I don't know. Any experts or experienced investors can help me out? EDIT TO ADD: I am completely NEW to investing in general. I have never invested in anything before, besides possibly virtual coins, and I'm kind of hoping for something with a bit more...cash flow - hence why I'm looking into real estate.... I'll be able to have cash every month unlike stocks or coins where I leave it for an unprecedented amount of time. Even though in real estate, the cash flow I receive may go straight back out to the mortgage or repairs - at least I see that money regularly and know where it's going.. right? [link] [comments] |
| Posted: 12 May 2020 05:07 PM PDT Basically, I've been running the same path for a while, there's a few houses (maybe 10) I've been eyeing. They look incredibly distressed (this is Detroit) and I can see that one was listed about a year ago and never sold. I'm thinking about writing a sentence on the back of my business card and dropping it at the house rather than writing them a letter. Actually thinking of doing this to a few distressed properties. I'm waiting on a refi that will close the first week of June, then I should have enough to undertake 2 houses. Just curious what you guys would write? Looking for any out of the box ideas. Right now I'm literally at, "I'm looking to buy a house in the area for cash, are you interested in selling your property?" Edit: and my business card says, "Real Estate Investor" [link] [comments] |
| Posted: 12 May 2020 05:02 PM PDT Are there any discords that people could join and potentially talk to people about REI over voice and just hangout and talk RE? either through text or on voice? [link] [comments] |
| Help regarding starting an LLC for real estate Posted: 12 May 2020 05:01 PM PDT Hey guys, I just was wondering if anyone could give a second opinion / insight on this. I just finished talking to my accountant. I told them I wanted to open an LLC for purchasing properties (first time doing this). They explained to me that if I open as an LLC I would need proof of income as a corporation for 2 years before the bank will give me a loan. I'm looking at houses at around 150-200k CAD and I can put down 20-30%. He said I would have to open the company , put cash in it in the form of say mutual funds for 2 years , before the bank will consider a mortgage. Is this correct? I've never heard of this .. I'm from Canada if that matters. Thanks guys. [link] [comments] |
| What is your typical flip ROI? Posted: 12 May 2020 10:20 AM PDT On my last couple of deals I'm getting around 22% roi. Is this typical for you? Do you calculate potential deals by roi? Or is there just a set amount you want to make like 25k per deal or whatever? I have someone that approached me about giving me private money and I am trying to make a presentation. Just wanted to see what other people are doing to know if I am doing okay or not. [link] [comments] |
| Cash-on-Cash Return (CoRC) vs Compound Annual Growth Rate (CAGR) - First time investors Posted: 12 May 2020 04:00 PM PDT I currently have 0 investments but grew up in a household where being a landlord was how we paid rent so I am familiar with the struggles being a landlord. My father currently owns two out of state houses in PA one for Airbnb style rentals and one for tenants. I am looking into a market around the 100k mark for Airbnb style rentals (is there a term for this, vacation rentals?) Thanks to this Bigger Pockets post I came across the concepts of CoCR and CAGR having their own importance. Of course in a perfect world having good numbers in both would be ideal but I am here to ask which seems more fitting for my goals. Two goals: -moderate investment with moderate results -vacation style rental with dual purpose as a family vacation home If I am in a market for vacation style rentals with value of >100k or so (moderate touristy town), should I search for an investment that leans heavier towards CoCR? Or should I consider a market that with higher CAGR? These concepts are new to me. CoCR seems less risky and easier to achieve but with lower ROI down the road than CAGR which seems to be a much harder and riskier market to read for a first time investor. In short; CoCR vs CAGR focus for first time investor looking for a moderate investment. [link] [comments] |
| For those with C cops or LLC as investment companies, what type of loans do you guys get? Posted: 12 May 2020 03:34 PM PDT I just spoke to a lender. I wanna buy cash and cash out refinance to buy another one. The lender said I have to be on title for 6 months, but that won't fly. As this is a company and not an individual simply looking to take money out of his home, it surely has to be possible before 6 months have gone by since purchasing the home cash. [link] [comments] |
| New Construction SFRs (how to market) Posted: 12 May 2020 08:37 AM PDT I have built 6 new construction SFRs (1600 sf walkout ranch, 3br/2ba unfinished basement) all in the same subdivision in a Des Moines, IA suburb. They fetch a premium price but as you can expect they are challenging to rent. The renters we get are very good, but interest is low... I want to ramp up my marketing and find a routine system to use in the future. I've used FB marketplace primarily and signs (but the subdivision is secluded and doesnt get much traffic). I'd love to get your ideas about ppc marketing and digital campaigns. I have some experience with this, but im hardly a pro. Can anyone suggest great ways to target? Our renters all have good/steady income but most have credit challenges for a variety of reasons. I welcome any other thoughts, suggestions or questions! Creative/unconventional ideas welcome! [link] [comments] |
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