Real Estate Investing: What to people think about manhattan real estate? Bubble or investment ? |
- What to people think about manhattan real estate? Bubble or investment ?
- Investment properties outside your state?
- Is my friends business model risky?
- Webinar on Philippine Real Estate Projections Amidst the COVID-19 Pandemic
- Questions to ask when meeting property manager
- The best place to Stock Pile Cash
- How do I Contact Craigslist Property ad owners?
- First Real Estate Investment evaluation and thoughts
- Refinancing our townhouse while it is temporarily rented - primary/secondary or investment?
- Have you ever done rent to own?
- Adding A Multi-Unit Mailbox
- What cities are you targeting to get a killer deal?
- Who does your landscaping?
- Own a second home (soon to be a rental) thinking about buying another investment property with the remaining equity via cash out refinance.
- Do you do your own iron grind/painting or pay someone?
- What are the educational requirements to becoming an investor?
- Requirements for investing in real estate
- Cash out Refi for Owner Occupied Duplex - 90 LTV still possible?
- Continue investing in stock market or take a shot at real estate?
- How do I get started?
- Do you see a future in online real estate investing?
- 1031 Exchange Question
- What factors do you look at when finding an investment?
- I have a bunch of questions
| What to people think about manhattan real estate? Bubble or investment ? Posted: 04 May 2020 12:39 PM PDT I've been living here for years and just looked into what it would be like to buy, A standard one-bedroom on the cheap end is 350-400k, and I'm talking no-frills traincar apartment. On top of that, you need to pay about 1K a month in co-op fees, even if you own it out-right. Average rent in the city is something like 3100 a month. A nice apartment that could fit more than one person, like a family of three or four, starts at about a million - from what I'm seeing on zillow. This is just for a 2 bedroom, mind. My friend's landlord bought a really nice apartment for 220K in 2004, and is now looking to sell it for 1.7 MILLION. How much of this is natural supply and demand and how much do people think is a bubble? If in 15 years a property could go from 200k to almost 2 million, is this just a crash waiting to happen or ...? [link] [comments] |
| Investment properties outside your state? Posted: 04 May 2020 09:43 AM PDT Hello! I currently live in Seattle and really can't find anything within my budget for investing in. Does anyone here have properties outside of where you live? How is managing that? Do you visit it a lot? [link] [comments] |
| Is my friends business model risky? Posted: 04 May 2020 03:06 AM PDT A friend of mine has recently begun investing in property, he seems to be doing alright but has taken things a step further by posting video's all over social media talking about how to get 'free properties' like he does. His business model is this: He finds cheap houses, gets a wealthy friend to lend him the money to purchase and refurb, gets a mortgage on the property at the higher valuation, pays back the investor with a bit of interest and then rents out the property. He's done this 3 times now and it almost seems too good to be true. He mentioned in his videos that all of his mortgages are set up as interest only payments which in itself sounds a bit of a risk. As he's a friend i dont really want to press him with too many questions as i might come across as negative but can people tell me if this is a risky business model and is it sustainable? Thanks. [link] [comments] |
| Webinar on Philippine Real Estate Projections Amidst the COVID-19 Pandemic Posted: 05 May 2020 01:17 AM PDT Hello! Our company, Ayala Land International Sales, is hosting a free webinar about the Philippines' Real Estate Projections Amidst the COVID-19 Pandemic. Anyone is free to join. The speaker for this webinar is Mr. Rex Mendoza who is currently an Independent Director for Globe, Ayala Land Inc, and ALLHC and he is also the President of Rampver Financials. The Webinar will be on May 16, 5:00pm PHT and on May 17, 5:00am PHT via Zoom. Both Foreigners and Filipinos are more than welcome to attend. If you are interested, sign upthrough this GForms link and will send an invite link: https://forms.gle/9NbvDEmWRTC9JCYj8 For questions and clarifications, feel free to message me or comment down below. Thank you and I hope we all stay safe. [link] [comments] |
| Questions to ask when meeting property manager Posted: 04 May 2020 12:43 PM PDT Going to be renting out my home this summer and meeting with a potential property manager this week. Their website seems pretty straight forward, they are flat fee based versus percentage. What questions should I ask? The property is new construction. I lived in it for about a year now and will be moving out of state. [link] [comments] |
| The best place to Stock Pile Cash Posted: 04 May 2020 04:23 PM PDT What is the best place to stock pile cash? high interest Savings account, CD, Money Market account. I have been contemplating stashing cash in the VOOG (vanguard s&P 500 growth ETF) there historical returns after taxes and sale of shares was 11%+; albeit in this expanding market. But wouldn't anything above 3% be better than all the other above options. Of course a negative return would be worst case scenario, but could be rode out for the long run and time horizon increased to see the preservation of principle. Any thoughts would be welcome. [link] [comments] |
| How do I Contact Craigslist Property ad owners? Posted: 04 May 2020 11:52 PM PDT How do I Contact Craigslist property Ads owners? I have tried to contact some Craigslist houses owners in response to their ads but I can't find or they didn't put their contact details. I then send emails to them using the Craigslist post email but they don't respond. What do I do? [link] [comments] |
| First Real Estate Investment evaluation and thoughts Posted: 04 May 2020 03:46 PM PDT I have been thinking about and researching real estate investing for the last several years and think that, with the likely drop in real estate values, that it may be a good time to start. I have an excellent credit score and a very good, high paying job. I have come across an opportunity and would love this subreddit's thoughts about it. The opportunity is for a mobile home park (actually 10 separate mobile home parks) with over 100 units. Here are the details:
A few things to keep in mind. This "property" is being sold by a brokerage firm with due dates for LOI, etc. I have done none of my own due diligence on this property and will need to outline my due diligence requirements in the LOI. I have a pretty good bead on that including rental income data and rent roll. I do not know how or even if I would be able finance it. I tend to think that this is probably too big a leap for a first-time property investor but the numbers seem solid. I would love to get your thoughts. [link] [comments] |
| Refinancing our townhouse while it is temporarily rented - primary/secondary or investment? Posted: 04 May 2020 11:03 PM PDT Wife and I own a condo that she bought in 2015. She/us lived there continuously from then until recently. A few months ago, we decided to temporarily move across town to be walking distance to some family, since we were about to have a baby. We are currently renting a house on a 1 year lease. We are simultaneously renting our condo out to a tenant. We are looking to refinance as our mortgage currently has a 4.625% rate, and we have been pre-approved for a rate ~1.5% less. Due to having a new child, and various other factors (career, the current macro-economic uncertainty etc), we don't yet know what we will do in 7 months when this lease is up. We might move back to the property we own, we may extend the current arrangement by 6 months, or even sell our property and buy elsewhere. QUESTION: In this situation, is it OK to apply for a refinance categorized as a "primary residence", given that there is temporarily a renter there? If not, would secondary/vacation be an option? Filing the refi as an "Investment Property" would make the rate much less appealing (~0.9% higher). We absolutely do not want to take any gambles, we are not scheming, we are just in a unique situation. We already are fully aware that it might be better to wait it out on a refi entirely, so please focus comments on the technicalities of the question I posed. Thanks!! [link] [comments] |
| Have you ever done rent to own? Posted: 04 May 2020 01:18 PM PDT Hey everyone, like the title have you ever done a rent to own with one of your tenants? If so, how was it and how did you structure the deal? Was it worth it, or more profitable to just rent out the property? [link] [comments] |
| Posted: 04 May 2020 07:07 PM PDT I'm looking at a 9-unit asset for purchase where there is currently one mailbox. One of the residents retrieves it and hand delivers to the other tenants. I asked the Owner why didn't he just get a multi-Unit box and he told me a long story about special permits and pain in the ass. We'll I called the county, no such requirement. Then I called the city, also no such requirement. Google tells me there isn't a requirement from the USPS but they have suggestions. Am I missing something or does it look like the Owner is ill advised? [link] [comments] |
| What cities are you targeting to get a killer deal? Posted: 04 May 2020 03:20 PM PDT I've been looking into Research triangle for a while now, but it is just so competitive. Even with coronavirus, stuff under 200 doesn't last more than a day. Once lockdown gets taken away, there will probably be even more demand. [link] [comments] |
| Posted: 04 May 2020 04:49 PM PDT I'm working on a business plan for a lawn care/ landscaping business that I'm planning on starting soon, one customer acquisition idea I have it to target property owners, even if I can get just one, that could mean picking up a lot of work. Who does your landscaping and/or lawn care? What do you look for in a landscaper if you have one? What are some good ways I could find and reach out to property owners? [link] [comments] |
| Posted: 04 May 2020 10:30 AM PDT Hey everyone. I am pretty new to the game. I inherited a 3 bed 1 bath home a year and a half ago I put a good amount of renovations into the place and project its now worth around $285-$300K. I am about to turn the property into a long term rental using a property management firm and expect rents from $1750-$2000. That is going well we hope to list next month. Income generated would be $10-12K after expenses. However, something new has caught my eye. Another 3 bed 1 bath home that I could pick up for around $90-$95k. The place needs about $40k in renovations and has a tax value of $130. I think I have about $140k of pent up equity in the first investment property (needs a new refinance appraisal before I am certain and this is after reno expense on the inherited home). I believe I can rent this second place from $1300-$1650 (its in a worse neighborhood than the first home). I also think the value of the house will go above tax value after renovations are complete. For this additional property as well as the second (after expenses) I project to make $14-20K a year total. This would be my first purchase of an investment property. What am I not thinking about? This is my side hobby for now, but I hope to grow it over the years into something that generates passive profits for me. I have a very good contractor (my father) who can practically build a house from sticks. I am able to keep cost really low in the renovation department. I also have connections all over town with electricians, roof guys, gutter guys, HVAC, on and on. I would just like some practical advice. Some other numbers (Also I am new so this may need checking) Investment Property 1 Alone: Cap Rate 3.4%-4.13% Gross Rent Multiplier 3.8-3.3 Investment Property 2+1: Cap Rate: 2.96%-4.23% Gross Rent Multiplier 5.9-5.0 [link] [comments] |
| Do you do your own iron grind/painting or pay someone? Posted: 04 May 2020 08:02 PM PDT Pretty much I have iron balconies and railings and the costs are getting kinda ridiculous, maybe it's covid, but people are asking 3x the price to do this kind of work. I'm thinking of just buying a grinder and paint and do it my self, in the coming years it will be probably cheaper to do touch up work vs habit hire out each time. Do you do it your self or pay someone else as the work sucks and I know it. Recommend angle grinder and head? Is battery viable or should just bring an extension cord? Tips or tricks? [link] [comments] |
| What are the educational requirements to becoming an investor? Posted: 04 May 2020 03:51 PM PDT I know a college degree isn't required to become an investor, but knowing the ins-outs of the business is a must. I know there's many different ways with going about with this, but is getting a real estate license beneficial? I don't want to be a real estate agent, but I feel like getting a license will get me to understand the business quicker and have me seem somewhat more of a credible/competent investor. With that being said, what do you think? [link] [comments] |
| Requirements for investing in real estate Posted: 04 May 2020 07:07 PM PDT What are the general requirements to buy a rental property let's say 100k property value. What would income need to be? Credit score? I am newly self employed 20 years of age on a 1040 making 40k. I've heard it will be a harder to be approved for a loan since I don't have a normal W2 form an employer. Thanks in advance everyone! [link] [comments] |
| Cash out Refi for Owner Occupied Duplex - 90 LTV still possible? Posted: 04 May 2020 02:19 PM PDT Hey everyone, first post here and plan to have a few more coming. 22 years old and purchased my first property 8 months ago to live in one side and rent out the other, although the house needed a lot of work (and much more work than expected since I had/still have no idea what I was doing lol). Finished renovating one side and have it rented out to stable tenants who both have jobs through this mess right now, and my side should be done within the next couple weeks. It's taken me way longer than expected after having shitty contractors take my money and run, do terrible work that had to be done over again, or rip me off since I didn't know better. Finally found a fair GC who's been renovating my side and doing an awesome job, as well get things done much quickly and eliminating alot of the stress. Relieved to finally be done soon With that being said, I've definitely added a decent amount of equity to the house and want to pull as much as possible out since I've had to spend everything I had on the renovations. not concerned about the increase in mortgage since it will still cash flows nicely and I can pay the mortgage out of pocket no problem with my W2 income. Purchased for $127k at 5% down, so still owe 123k on the property. The comps I see show the ARV between $185k-$200k (thats being conservative). I called a few banks and credit unions but I can't find anyone willing to go beyond 80 LTV. I could have sworn I've heard people getting 90 LTV for owner occupied properties, but I'm not sure if that has changed with everything going on, or if because mine is a duplex. Anyone able to shed some light on this? Upstate NY btw [link] [comments] |
| Continue investing in stock market or take a shot at real estate? Posted: 04 May 2020 05:50 PM PDT I'm not sure whether to post this in r/investing or r/personalfinance. Here's a run down of my current situation. Age: 20 Self employed (safe government contracts/banks) with a few high end residential clients. Income: 40k and growing. I have VERY low living expenses -Taxable account holdings: 21,645.90 VOOG -Retirement ROTH IRA 11,002.36 also VOOG -Self employed 401k balance is 0 as I have just opened it with vanguard last week for my business. I tend to pile my money into the market and im looking for an alternative. My question is should I completely stop investing into the market to save up 20-25k for a down payment on a rental property in my location? In my area you can buy a 4 bedroom for about 80k that needs about 20k in renovation. Producing 1200-1400 a month in rental income. I can do the work to the property myself with friends when it comes down to general contracting. I'm talking flooring, sheet rocking painting, light carpentry work. Does this make good financial sense at my age or should I stick to the stock market?Thanks to anyone's help I really appreciate it as beings. Young entrepreneurship is a whole new learning experience. I plan on saving up for down payment and plan to purchase in mid to take 2021. [link] [comments] |
| Posted: 04 May 2020 03:50 PM PDT I read a lot of these posts here who recommends this book that book this program that program. I'm sure these resources are well written and constructed but I am looking for more of a personal experience and opinion. My position: I am 25 I currently own a home in Northern CA 330k balance remainder 4.5 percent APR 30 year loan. House value is 370k. My income 175k/yr Goals: I want to accumulate more properties that are within driving distance, really just in California. I am open to Southern CA. However, I know this is impractical because I am not a high income earner relative to housing costs I want to accumulate single family homes in Sacramento CA, where my primary residence is. Or I was thinking Condos because maintenance fees at the cost of HOAs. Definitely requires less management I would assume? Again, no experience and would like insights. I considered "house hacking" but multi unit houses in my area are out of my price range. My plan: Build up 20% down payment for the next property, have a year of savings for both my current mortgage and my new mortgage. Spoken kind of broadly and on paper because I don't have actual experience. I would appreciate any insights or creative ideas on how to get started? In addition to, any areas in California that would be a good investment (million dollar question). Thanks everyone [link] [comments] |
| Do you see a future in online real estate investing? Posted: 04 May 2020 08:14 AM PDT Where people buy houses online, just like Tesla. I was thinking about this because coronavirus really stopped me from buying and selling houses in person. We literally did a showing virtually with a 360* camera lol. [link] [comments] |
| Posted: 04 May 2020 07:34 AM PDT I'm doing a 1031 exchange - the "sale-side" property was a former personal residence that has been leased out for the past 3 years. We used a 1031 Exchange company and just closed last Friday. Now that I'm on the buy side, as I purchase new homes (multiple homes that equal the value of the sale home), I'd like to be able to move them into an LLC for asset protection. I can't find any information on how to do this and the 1031 company said that I need to hold them in the same ownership for at least 1 year after purchase. Have you done a 1031 exchange and moved from individual ownership into an LLC? If so, how did you do it? [link] [comments] |
| What factors do you look at when finding an investment? Posted: 04 May 2020 04:47 AM PDT I am new to real estate and was wondering what key factors do you look at to find the best property to buy? I used to think it's only bedrooms+bathrooms and the neighborhood. But I've come to learn recently that it's so much more. I would really appreciate any advice you guys could give me. Thanks Edit: I'm mainly looking for residential properties, but could possibly look into commercial etc [link] [comments] |
| Posted: 04 May 2020 11:15 AM PDT Hello, I made a post a while back about this house I found. It was behind on taxes and stuck in probate. We got that taken care of and are getting things ready for a quiet title. Anyways, we weren't sure about where the money to pay for a lot of this stuff would come from so we have listed our home for sale. The proceeds from that will cover the cost of closing, quiet title, back paid taxes. However the house we are buying needs work, is there a way I can have the new house under contract but begin cleaning it out? It unfortunately had hoarders in it. The carpet is also messed up and we'd like to replace it before having to move into it. I'm wondering if doing that is possible? Also considering a 203k loan to cover these costs? I have a feeling that we'd have to sell our house, move into the other one while it's in bad condition and then use the loan to do renovations. I'm trying to get it ready before we move in. Any input would be appreciated! [link] [comments] |
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