Real Estate Investing: What percent of your rental income goes to repairs, maintenance, and CapEx? |
- What percent of your rental income goes to repairs, maintenance, and CapEx?
- Selling a rental house - how do I market to investors? Following 1% rule for rent/price, house is theoretically worth 33% more than I paid 2 years ago
- Do anyone know any reliable land broker in Los Angeles County?
- Favorite REI Media/News Outlet (esp. Chicagoland)?
- Timberland
- Investing in RE w/ $1000 to $2000 per Month?
- Florida Landlord Law
- Hard Money for First Time Rental
- Investing in Expen$ive areas?
- If I pay my first property off how do I protect it from seizure if something happens to a second mortagge im taking out for a rental?
- When does an HOA fee make a property undesirable as a rental?
- C and D class neighborhoods are all that’s possible
- Just getting into Real Estate need help
- Outsourcing mgmt
- Yardi vs MRI
- Convert hard money loan to regular bank loan - requirements
- Looking for perspective on my possible investment strategy
- Anyone own any ski rental properties?
- Do small apartment building / multiplexes increase in value at the same rate as SFHs?
- We make $50K combined. Want to buy in NYC. Are we insane?
- How to smart home a rental unit?
- RE Commission on Lease Agreement - Corporate Office
- Hi all! I’m 18 and want to get into real estate investing. Given my circumstances, do you think it’s a good idea?
| What percent of your rental income goes to repairs, maintenance, and CapEx? Posted: 26 May 2020 10:10 PM PDT I'm trying to do some calculations but I don't know how much repairs costs. For example, the only repair I had in the last year in my apartment that I rent was a $150 exterminator for the whole year (I rent the place for $4300) I'm wondering if I should calculate that it costs 15%, 20%, 25%, etc? [link] [comments] |
| Posted: 26 May 2020 06:39 PM PDT Tl;dr How do I market my rental to investors? Current rent suggests it's a could be a good investment even at a price much higher than I paid just 2 years ago. Thank you for replies to my previous post. In summary, I paid 70k for a house 2 years ago and am renting it now for $978/month. I suspect I could've asked for higher rent because I had 100+ inquiries online. I understand the limitations of different calculations to evaluate a property, but just using the back of an envelope, this level of rent would suggest house could be worth ~95k to a different investor. 25k profit right now is appealing to me vs risks/hassles of landlording. Assuming 7% return in stock market, this 25k becomes 50k in 10 years vs 4K/year rental profit=40k (yes, I realize this excludes future sale profits and rent increases, but it also excludes capex, maintenance, vacancies and my time/effort - it also assumes stock market follows non-COVID historical trends). I have already been considering selling in 3 years anyway to avoid capital gains since I previously lived there. House is 100 yrs old, only 700 sq ft and 2 bedrooms which is unappealing to new home owners (but seems to be less so to renters). So my question is, how can I market this home to an investor who is looking to take over a lease with an established tenant? Would you post to MLS and include projected capex as a way of attracting attention? Is there a way to avoid paying 6% to agents? Thanks for your help - would be interested to hear both suggestions for marketing and if there are any major flaws in my maths (I realize they are filled with assumptions that could sway the benefit/risk in either direction) [link] [comments] |
| Do anyone know any reliable land broker in Los Angeles County? Posted: 26 May 2020 06:24 PM PDT I have a vacant commercial land in El Monte, CA and I am looking for sale. Do anyone knows any land broker that can help? [link] [comments] |
| Favorite REI Media/News Outlet (esp. Chicagoland)? Posted: 26 May 2020 07:18 PM PDT The title says it all. I'm in Chicagoland, and am looking for some good news and media outlets that cover the real estate market here, though hearing some suggestions for nation-wide real estate markets would be great too. Let me know your thoughts! :) [link] [comments] |
| Posted: 27 May 2020 12:22 AM PDT Hey all, I've been looking into Timberland as a realestate investment, I live in the Great Lakes region of the US and have found numerous "great deals" for forested properties. I've searched around this subreddit for some ideas, and got some baseline info so i'm at least not completely oblivious to some of the obstacles I could possibly face. I was just wondering if any of you had some insight into owning forested property, and ways to make the land cashflow. Some ideas I have are: Lease it out during hunting season Hire a forester to appraise the timber and find a local sawmill that's willing to buy logging rights Establish baseline utilities and flip. I'm not adverse to holding the land long term if need be. Thank you! [link] [comments] |
| Investing in RE w/ $1000 to $2000 per Month? Posted: 26 May 2020 08:09 AM PDT Hey gang! Very new to this subreddit so take this down if I'm breaking any rules but I couldn't find anything. I've got about $1000 to $2000 of free capital per month that I could invest in Real Estate. I'm really trying to branch out from day trading and get into property. Wondering if you all might have some suggestions as to how you would invest that? Do you recommend buying property? Fundrise? Trying to learn anything and everything :) [link] [comments] |
| Posted: 26 May 2020 09:07 PM PDT What are some of the biggest issues landlords face in Florida? Any laws that should be changed as they are unfair to landlords? Anything to look out for when becoming a landlord? Looking for general concepts/things that are hard for landlords to get a verdict on when it should be clear and easy. [link] [comments] |
| Hard Money for First Time Rental Posted: 26 May 2020 03:04 PM PDT One of the issues I'm running in to is that Hard Money Lenders typically require you to have at least one rental under your belt prior to lending. My main issue with this is that I need a loan to get my first rental. Does anyone know of any hard money lenders that might be willing to lend? Any other creative suggestions? I have located a property that needs to be renovated I just can't get funding for it. [link] [comments] |
| Posted: 26 May 2020 08:52 PM PDT So, i live just outside DC and the market is stupid expensive. Homes as small as 2 beds can go for $400k+! Most starter homes in decent areas are also 360k+ IF lucky. I just dont know where to start. I also dont want to invest in different cities, across the states because i dont want an asset that far from where im living. I was planning on saving with my w2 job that I start next year and saving up, but felt dejected when seeing how high the rates for homes are. I thought about getting an apartment unit perhaps? But dont know if that would be the best investment (250k) [link] [comments] |
| Posted: 26 May 2020 10:12 AM PDT 1) house1: live in and pay off house 2: my first rental property. i get a loan but for some reason let's say their is a recession and my house begins to depreciate. in the worst case I can't pay off the loan what is there to protect house 1? From what I understand this is where umbrella insurance comes into play which protects you from liability exceeding X thousand dollars For house 2, am I protected if I don't list my real estate asset from house 1 when getting the loan? From what I understand, no. So why do people list it then, for lower interest rates? 2) I grew up in a religious tradition where paying extra interest (think orthodox Jews, muslims ) is frowned upon. I'm not religious but if I borrow money from family this would be a consideration. So if I lock in a 30 year FRM, and use the low interest rates to invest in the market, what happens when housing begins to depreciate (recession) do people pay down their principle hard with the money the have saved? Does one account for this downturn in online real estae calculators but simply not appreciating as much over the 30 year mortgage timeframe? [link] [comments] |
| When does an HOA fee make a property undesirable as a rental? Posted: 26 May 2020 12:28 PM PDT I'm in the planning stages of purchasing a new home and I wanted to get others' opinions on when it makes sense to turn a personal home into a rental property instead of selling it. I know this general idea has been discussed at length in this sub. But I wanted to get an understanding of your opinions in the specific context of HOA fees. In particular I want to know at what price an HOA fee would steer you away from a rental property. In short, I live in a 1BR/1Ba condo. It's worth about $510k and I have a 15 yr mortgage at 3.25%. The HOA fee is $560 per month and the remaining cost per month (including mortgage, insurance, and water) is $3730, for a total of ~$4300/month. Similar units in my building rent for about $2600-2800 per month. Assuming that I can afford it (I can), does the $1700 per month that I would need to pay after renting make this a bad property to keep and rent out? Does the HOA fee (which will never go away) affect your opinion? If it matters, this is in downtown DC. [link] [comments] |
| C and D class neighborhoods are all that’s possible Posted: 26 May 2020 07:30 PM PDT Most of the area where I live is wholly impossible to achieve the 1% rule starting out in investment properties. The only way I see that it is possible is to venture into C and D class neighborhoods where units are very old and run down and tenants are likely good people with bad credit and somewhat likely to suffer underemployment, but where units appear to rent for 1%+ mortgage rates. I'm not afraid to coordinate repairs, or spring for a property manager. Is this a terrible idea or just finding a way in my local market? [link] [comments] |
| Just getting into Real Estate need help Posted: 26 May 2020 06:53 PM PDT What does it mean when they mention that it's fully rented? I know might be a dumb question. Looking at a triplex and that's what the description says. [link] [comments] |
| Posted: 26 May 2020 02:43 PM PDT We are a family owned residential multi family with 160 units, not high end but great location. Vacancy is normally under 5%. We have always managed as a family, but due to issues, we are looking at potentially outsourcing management. Anyone have experience doing full mgmt outsourcing vs just maintenance? We have 2+ full time maintenance, 1+ rental agent. And we manage them all. Wondering if anyone is in a similar situation but has given up direct mgmt. if so, what might be a ballpark % of gross total, and what is your satisfaction level? As more info, we are in a college town with state govt. not downtown, but in a great area serving lots of grad students, young professionals and retired people. [link] [comments] |
| Posted: 26 May 2020 05:08 PM PDT Has anyone used either of these property management softwares? What feedback do you have? This is for commercial real estate property management. [link] [comments] |
| Convert hard money loan to regular bank loan - requirements Posted: 26 May 2020 01:17 PM PDT I'm considering a hard money loan for a property with some issues. (1) Permit noncompliance. (2) Neighbor's house built such that it encroaches on subject property. These issues are challenging but solvable. Clearly one exit strategy is just to sell it when the hard money loan is due. What about if I wanted to convert it to a regular bank loan when the hard money loan is due? Is it true that each and every thing on the following list typically need to be solved in order to qualify for a regular loan? 1) There must be a clean title with no issues (such as neighbor's encroachment). 2) There must be no permit violations 3) It must be making income, with tenants in there for some length of time. I'm pretty sure 1 is required, but is 2 always required? Is 3 required or helpful? [link] [comments] |
| Looking for perspective on my possible investment strategy Posted: 26 May 2020 02:42 PM PDT My goal is to retire in the 30 to 35 range. Would it be a smarter move to buy one property and do a consistent chain of 1031 exchanges. Or buy 2 to 3 properties , pay them off and sit in those cash flows for a while with 1031 exchanges down the line. (I'm talking about 280k to 350k condos with rent being about 1600 to 2200) [link] [comments] |
| Anyone own any ski rental properties? Posted: 26 May 2020 04:48 AM PDT I've been looking at buying over the last several years but didn't. Now thinking I might have dodged a bullet with the early shut down this year and the likely second wave of Covid19 in a few months so even if resorts are open not sure people will travel. I'm curious if anyone has owned through other recessions and how rentals faired? Any worries for the upcoming season? [link] [comments] |
| Do small apartment building / multiplexes increase in value at the same rate as SFHs? Posted: 26 May 2020 06:09 AM PDT Thinking about investing in a 4-6plex. At the end of the day, a home is a home - well sought after. Do multiplexes have as much demand and will go up in value at a similar rate? [link] [comments] |
| We make $50K combined. Want to buy in NYC. Are we insane? Posted: 26 May 2020 09:37 PM PDT My partner and I are moving to NYC area this year. We're planning to be there for at least 5 years. We combined make around $50,000 and are thinking about putting a down-payment on an apartment or condo so we can get our investment back instead of paying a shit ton of rent with no return. Are we insane? Is there any chance we can get a downpayment for under $10,000 in that area? We don't need anything luxury or nice, we're used to living in a 1bd with food and utilities and expenses on about $2,000 a month each. [link] [comments] |
| How to smart home a rental unit? Posted: 26 May 2020 03:46 AM PDT I have a condo that I rent out occasionally. Would like to update it with some smart home devices (Alexa, lights, curtains, smart lock), but every device would be connected to my account. How do I allow a renter to use the smart devices but not abuse them. For example, if I had an Alexa device ... don't want the renter ordering stuff from amazon. Anyone here have an airBnB or rental unit where they have smart devices? What accounts do you connect the devices to? How do you train a renter to use them? Thanks [link] [comments] |
| RE Commission on Lease Agreement - Corporate Office Posted: 26 May 2020 10:58 AM PDT I work for a financial company that owns the building we work in and we rent out the extra office space to two other tenants. Our long-time realtor has retired and suggested a new Realtor to work with that helps us find tenants, provides leases, etc. The new Realtor has a commission schedule very different than our last realtor. The new schedule is 6% first year, 5% second year, 4% third year, then 3% for remaining years. If they renew, that schedule starts over at a slightly reduced rate....This is much higher than our last realtor, who simply charged 1 months rent and took nothing on renewals. Is this a normal commission schedule, or did we just have a really good deal with the former realtor? [link] [comments] |
| Posted: 26 May 2020 10:42 AM PDT So here's where I stand. 18, finally working and making some money. It's not a lot, but I'm looking to invest what little I do make in order to see some returns down the road. There's no real reason it has to be real estate, but I guess I just like the idea of investing in something tangible. For the record, I'm looking at this as a long term thing. I know this isn't a "get rich quick" type of deal. First off, I live in northern Canada, in a tiny town called Whitehorse (pop ~25k). I've already heard some discouraging comparisons between cap rates in the US vs Canada, so I know I'm not going to be seeing double digits. Housing prices in my town have shot up recently, and are at record highs (CAD 529,000 or USD 384,000 for a single-detached home as of October 2019, up 11% from the beginning of that year). On the other hand, due to government jobs, the average income for a two-or-more person household is relatively high, at CAD 140k (USD 100k approx). From what I've seen, the rental rates here seem low compared to the cost of a house. Let's look at an example. I'm looking at a property now for CAD 459,000 (USD 333,000). It's a two-storey town house, great downtown location, built this year, top of the line appliances etc. Great place right? Well, one of the adjoining town houses has been purchased and is now being rented out for CAD 2300 (USD 1660) per month. It is identical in every way to the one listed for sale. Is a purchase price of CAD 459,000 really justified by a rental rate of CAD 2300? That just seems really low to me. Let me know what you guys think, and let me know if you need any more information. If you do think it's possible to get into real estate from where I am, then any pointers on how to get started would be greatly appreciated. Thanks in advance! [link] [comments] |
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