Real Estate Investing: Advice on inheritance properties. My mother passed away leaving me two single family homes in nice areas of Los Angeles. |
- Advice on inheritance properties. My mother passed away leaving me two single family homes in nice areas of Los Angeles.
- Best way to turn $1 Million into tens of millions through RE? How do the mega-rich do it?
- There’s a duplex in my town that’s been Vacant for around 10 years. It’s a beautiful spot, would command a decent rent fixed up, but the owners say they don’t want to sell.
- Vacant Land for Solar Farm
- How do you value a house that burned?
- Advice on getting financing for a condo in an association with high investor presence
- 25k cash for rental with tenant. How much damage is too much?
- PNC bank won't allow me to move property to my LLC. Anything I can do?
- Money is So cheap - Is it a good Time to aggressively buy ?
- 'BC landlord taken to human rights tribunal for not renting to man with disabilities'. If you think this only happens in the US, be warned.
- Need Advice - which do I act on first in current climate?
- Advice on some real estate classes
- Newbie Asks About Single Family Housing
- Best choice for a first investment property?
- What’s the best city to start a career in real state investment / asset management?
- Buying rental properties with long term tenants who don’t want to leave. I’m okay with keeping them as tenants but how, as a new owner, do you collect security deposits from the multiple tenants?
- Anyone have any experience with building properties?
- Are “no money down” property investments possible?
- Getting a duplex in an inheritance
- Buying at auction- Preliminary title report?
- [US, North Carolina] Is this a good time to turn my unit into Section 8?
- Have you ever dealt with Loan Depot? What was you experience like?
- HOAs & Real Estate Investment
| Posted: 03 Jun 2020 02:10 PM PDT One is valued at $1.5m and the other at $1.35m. No mortgages. One the property is worth more than the house near Silicon beach. The other needs work. Two questions, I want to build my investments and buy more income property, where and how? Is now, middle of pandemic,a good time to buy multi-unit with so many renters defaulting and laws protecting them? Sorry if it's a bit remedial. [link] [comments] |
| Best way to turn $1 Million into tens of millions through RE? How do the mega-rich do it? Posted: 03 Jun 2020 06:07 PM PDT Through my years of traditional investments and job security I've got about 600,000 in cash and 400k in a duplex (brings in about 4k a month), paid full in cash. However, I'm still quite young, in my 30s, and want to head into development. Anyone have any suggestions on getting started? The whole, buy tons of duplexes/sfr's and eventually get up to 100k in income is just a slow and daunting task. How do people get mega rich with real estate? [link] [comments] |
| Posted: 03 Jun 2020 04:30 AM PDT So I've been eyeing this duplex for a while. It's in a great location, it has tons of glass facing south, and it's a 2.5 story building with lots of square footage on a good size property. I haven't been able to see the inside, but it definitely looks like it needs some work. The building is owned by the extended family of one of my childhood friends. I reached out to him to ask if they had any interest in selling, and he got back to me saying they're uninterested. This pains me greatly as there are few good deals in my town, and I'm trying to find something that would work as a house hack. Is there something I'm missing here? Does anyone have any idea for how to approach the situation from a different perspective? [link] [comments] |
| Posted: 03 Jun 2020 02:38 PM PDT I might be a few years late to the party, but finally have saved enough money to get into real estate investing (30K). Background, have a house and am more than comfortable with the monthly mortgage payment on it. I've been looking at acreages near cities lately and have seen some articles that Solar Developers will pay you to lease your land for 20 years + so they can build a solar farm. It sounds too good to be true and if it was really that easy then why wouldn't they just buy the land themselves? Has anybody out there had any experience with this, or any advice on what I could do with a vacant lot? My initial plan was to buy a plot near me so I could develop the land on the weekends and build a cabin to rent. Sorry for the long post - but been a lurker for a while and hope I can get some good insight from everyone. [link] [comments] |
| How do you value a house that burned? Posted: 03 Jun 2020 05:13 PM PDT Mostly intact, trusses are unburned, mostly just need to gut the interior and replace windows/doors. Owner inherited the house but did not get the insurance payout. I can figure it's value if it was ready, but how do I figure the value if it still needs demo? [link] [comments] |
| Advice on getting financing for a condo in an association with high investor presence Posted: 03 Jun 2020 09:41 PM PDT I'm looking to purchase 1-2 condos in a strong condo association, however, there is a large investor presence >70%, and one owner holds 30% of the units. Does anyone have any ideas how I could go about getting conventional financing? Any help or tips would be greatly appreciated. [link] [comments] |
| 25k cash for rental with tenant. How much damage is too much? Posted: 03 Jun 2020 02:02 PM PDT I have the opportunity to buy a rental for 25k in cash. Tenant in place paying $650. The front porch overhang had a tree land on it and needs roof/decking replaced for it. The whole roof probably doesn't have much life in it. Same for A/C as it's 17 years old. Tenant is somewhat of a hoarder but has paid on time and doesn't want to leave. Barring the inspection coming up and saying rampant inside damage or termites etc should I just go for it? [link] [comments] |
| PNC bank won't allow me to move property to my LLC. Anything I can do? Posted: 03 Jun 2020 05:20 PM PDT PNC bank has told me that will not allow me to transfer my loan to an LLC due to their "investors" not allowing it. It's a single family home located in Denton County in Texas. Do I have any options here? Thanks in advance for the help! [link] [comments] |
| Money is So cheap - Is it a good Time to aggressively buy ? Posted: 03 Jun 2020 08:53 PM PDT Clearly with the interest rates being so low, Money has been really cheap the past 5 years, and with Covid happening, I don't expect it the interest rates to go back up in the next 5 years atleast. Because of the low interest rates, and because there aren't many fixed income assets, RE has been making more sense to many people in the last 5 years. Because of this kind of environment, I keep questioning myself if it is the right time to still aggressively invest in RE. To me it seems to be artificially pumping up the prices. I won't exactly call it artificial because low interest rates is where the economy is headed and is likely going to stay here, as in the new normal. But it is making less and less sense to invest in RE considering the reward. CAP rates are getting compressed for both SF and MF, and in some places have already gone under 4%. 4% is more than what the banks would pay you, but it also comes with a lot of work that one has to do while managing these properties. Also there will be a point, when it won't make sense for cap rates to go any lower because investors would rather park their money in banks than do the extra work for 1% more return than the banks. What are the thoughts on this subreddit on this ? I know people can have creative strategies, and could still make good returns on their RE investments. This could be in the form of Buying Off-market or adding value, or buying in a growing market where the cap rates still haven't compressed etc. Regardless, I still see RE losing its charm in the next 4-5 years, and I keep asking myself if its a good time to get into the market. Thoughts ? [link] [comments] |
| Posted: 03 Jun 2020 05:03 PM PDT I'll post the link in the comments and hope it doesn't get flagged. [link] [comments] |
| Need Advice - which do I act on first in current climate? Posted: 03 Jun 2020 08:25 PM PDT Background: I (30M) own a SFH property in a college town but now live in a bigger city and rent. Only problem there is father has kind of jumped in and blocked sale and taken over tenant. Hairy family situation to be honest and bc I don't need the money and he now pays the mortgage, I've chosen to let that sleeping dog lie. My wife and I both work in tech, make a decent living and have been saving up for our first house together. we have quickly put away cash but when Covid hit, it seemed to change a lot of feelings towards living in the city. It's very possible that for the next 12-24 months, we could work from home and be able to live elsewhere. In this climate... should we... 1. Buy the home here in the city we live in (it's an up and coming tech city who has seen lots of growth over the past 10 years) or... 2. Buy a home on the coast where we enjoy spending time, work remote for a few years then flip it into a short term rental and buy a home back in the original Texas market that was growing. Justifying the move due to work and putting 5% down again Would love to get some advice here. 1 or 2? Maybe I'm dreaming here... [link] [comments] |
| Advice on some real estate classes Posted: 03 Jun 2020 07:47 PM PDT Hey y'all, I am interested in real estate but I'm not sure where to begin and eventually work for a real estate company or something. I want to know more about selling houses and buying as well because I want to buy a house next year. Do you have any novice advice for maybe classes I could take to get a license? Or places I could work for? Or how to make a business out of this by myself? Just anything would be greatly appreciated. I live in Boston, MA btw! [link] [comments] |
| Newbie Asks About Single Family Housing Posted: 03 Jun 2020 07:32 PM PDT Hello! I'm a big newbie to real estate & investing in general. I'm in high school so I've been reading about the basics and taking notes on BiggerPockets. I find reddit easier to use than their forums, so here I am. So on the topic of single family housing, I read that: "in certain areas, single family rentals won't have positive cashflow". My question is: What benefit is there to investing in single family housing if the cashflow is not positive? I was under the impression that cashflow is pretty much everything. If that's not the case, I would appreciate any info that helps :] Thanks! [link] [comments] |
| Best choice for a first investment property? Posted: 03 Jun 2020 01:16 PM PDT As a new investor what are recommendations for a first rental property? Single family home with a lawn? A townhome? Brand new construction? A renovated home with warranty if possible? I am trying to play it safe but understand that anything can go wrong. What may be some advice that some of you went wrong on your first property? [link] [comments] |
| What’s the best city to start a career in real state investment / asset management? Posted: 03 Jun 2020 07:12 PM PDT |
| Posted: 03 Jun 2020 01:08 PM PDT I'm assuming the existing tenants have already paid a security deposit to the current owner. [link] [comments] |
| Anyone have any experience with building properties? Posted: 03 Jun 2020 06:19 PM PDT Houston TX I have a lot that I am considering building 2-3 houses on. Its a thing here in the city, turn 1 full size lot into 3 and build a few 3-4 story houses. Does anyone have any experience with this? Not sure if this is the right sub. Seems like this is the sort of thing that ruins people sometimes so I clearly dont want to do that. [link] [comments] |
| Are “no money down” property investments possible? Posted: 03 Jun 2020 05:36 PM PDT So there's many people floating around the internet that claim you can make money with no money down through things like rent-rent etc. Is this possible? What are the risks? Has anyone done this? I would just like a collection of opinions on the matter as I personally don't believe it's possible. [link] [comments] |
| Getting a duplex in an inheritance Posted: 03 Jun 2020 04:46 PM PDT So my family and I sold our house, and moved in to the other side of my mother's duplex with the promise that we would get the duplex when the time comes. I hope it's not soon, however I'm trying to find some answers to some questions I have : 1. We would like to buy another house (eventually) with our savings, and use the rental income as a solvent m supplement for our mortgage payment. How feasible is this? 2. How does the current mortgage for the duplex switch hands into ours? 3. Is it even worth it, or should we just sell the duplex when the time comes? 4. If this is the wrong subreddit, I apologize. Which Sub should I post in? Thanks in advance! [link] [comments] |
| Buying at auction- Preliminary title report? Posted: 03 Jun 2020 09:02 AM PDT Hello! I'm looking at a house on auction.com, but I have not done this before and don't understand how the title works. It's bank-owned, and they have provided a preliminary title report that is pretty much clean (some HOA/utilities are on it). But it's not a final title report. Is this as much re-assurance as I'll be able to get? Would you go forward? [link] [comments] |
| [US, North Carolina] Is this a good time to turn my unit into Section 8? Posted: 03 Jun 2020 02:43 PM PDT My tenant's lease is up for renewal in September and I'm fairly certain I will replace him with a section 8 tenant. With the way this year has gone so far, does anyone think its not a good idea to transition into Section 8? I'm fairly certain the Raleigh (North Carolina) Housing Authority is still closed and they're all working from home... I'm wondering if paperwork is slowing down... Would love to hear your thoughts... [link] [comments] |
| Have you ever dealt with Loan Depot? What was you experience like? Posted: 03 Jun 2020 02:33 PM PDT I've dealt with some credit unions, some major banks, and now loan depot. I have my favorite, but I don't want to look like a corporate stooge. What's been you preferred lender? [link] [comments] |
| Posted: 03 Jun 2020 10:16 AM PDT What are this sub's thoughts on paying HOA fees? My strategy is to buy a relatively low cost place, pay it off entirely in 3 - 4 years, and cash flow without the mortgage, not necessarily cash flow during the years that I pay off the place. I'm wondering if this sub thinks the below is a dumb idea: 3bd 2ba condo in a great part of downtown in my city is up for sale for $350,000. Lots of planned development in this city, and so now is a good time to buy to get in before things increase in price substantially in my opinion. The place could rent for about $2,400 - $2,600 per month. I could pay it off in about 3.5 - 4 years. HOA fees are a whopping $545 per month. So obviously this would not cash flow for the years where I am paying it off. Once it's paid off, I'll have a $545 per moth HOA fee (which may go up in the future, right?), $338 per month in property taxes (California), and about $65 per month in home insurance. This thing is going to be around $950 per month, even after the mortgage is paid off. However, real estate investors must save for things like repairs and capital expenditures. With rents like this, I'd expect to save anywhere from $150 - $200 per month in repairs and cap ex on a place without HOA fees. But the HOA fees will make it so that I wont have to save for repairs and maintenance because they would be the ones repairing roofs and whatnot with the fees. So is this a dumb idea to buy this thing if my strategy is to pay it off aggressively and rent it out for being in a good part of down town. Are HOA fees the curse of death? Edit: Grammar. [link] [comments] |
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