Real Estate Investing: Elizabeth Warren introduces legislation to extend moratorium on evictions for a whole year. |
- Elizabeth Warren introduces legislation to extend moratorium on evictions for a whole year.
- Evictions: Last Week Tonight with John Oliver
- When did your sole proprietor LLC save the day?
- Good Real Estate Books in Chinese?
- Seeking assistance re selling or renting my house after moving
- Section 1031 duplex to timber investment
- What is that one thing missing in your online real estate (buy/sale/rent) activity?
- Possible to get an owner occupant loan on a duplex that is occupied by tenants (fixed leases until 2021)?
- Renting out a sfh with adu
- Best place to Accurately understand the value of a property?
- QuickenLoans Mortgage
- Rental Calculators?
- What’s been your worst experience in real estate investing?
- Is there a loan product for multiple condos in a single purchase?
- Making an Offer on Quadplex
- Can I buy a duplex with an “Owner Occupant” if it is occupied by tenants on fixed length leases?
- Hard Inquiries
- Should we take the deal by the beach? Advice Needed Oceanside Ca
- Questionable Equipment in House
- Homestyle/ 203k Lenders?
- What’s my best next move?
- Apply at Quicken and Rocket Mortgage?
- Analyzing a 3-family property for sale. Need help please!
| Elizabeth Warren introduces legislation to extend moratorium on evictions for a whole year. Posted: 29 Jun 2020 04:58 PM PDT |
| Evictions: Last Week Tonight with John Oliver Posted: 29 Jun 2020 04:53 AM PDT John Oliver just pushed out his latest episode - this one focusing on the crisis of rising eviction rates in the Unites States in the midst of a pandemic. Slight trigger warning - the episode does not look upon nor portray landlords in the most positive light. Regardless, the episode is still interesting in so much as watching fascinating PR moves made by a few individual landlords highlighted in the episode. [link] [comments] |
| When did your sole proprietor LLC save the day? Posted: 29 Jun 2020 05:44 PM PDT This is not for theoretical discussion. There is a lot of debate on whether an LLC offers us measurable protection, I myself have been in and out of that strategy, so real examples would be helpful. I'm sure some have suffered a significant judgement that they didn't have to satisfy by limiting their liability to the property under that LLC. Please share your stories! [link] [comments] |
| Good Real Estate Books in Chinese? Posted: 29 Jun 2020 10:39 PM PDT Hi, my parents are Chinese and I wanted to teach them more about real estate but there's a language barrier so I was wondering if anyone had some good articles/books or other resources that is written in mandarin so I could share it with them [link] [comments] |
| Seeking assistance re selling or renting my house after moving Posted: 30 Jun 2020 12:27 AM PDT Hello, I hope I'm in the right place but I need some assistance on if you think it's a good idea for me to sell my home or attempt to turn it into a long-term investment by renting it out. Here are my basics: Leaving the Mid-West and moving back to California My home was purchased in 2016 for $197,000. It's now worth ~$230,000. The home was brand new when I purchased it. My mortgage payment is roughly $1400/mo however that INCLUDES property taxes and a slightly increased repayment on the loan principle. There frankly aren't many comparable rentals in my area but I'm guessing I could probably get roughly $1600-1700/mo in rent. It's a 3 bed/2.5 bath split-level and it's in a good school district. I have fairly substantial traditional investments (stocks, mutual funds, etc.) so my logic (and my father's) was that an asset like a home would be a good way to diversify my investments. It's tangible and frankly home-ownership is a less likely prospect for a lot of people in my generation vs. the older generations. I would definitely be using a property manager given my 1500 mile separation from the property. So, what do ya'll think? What are some of the other questions or variables I should be considering? But the idea of eventually owning a home free-and-clear is quite tantalizing and I know it's most likely never going to happen back in California lol. Thanks in advance! [link] [comments] |
| Section 1031 duplex to timber investment Posted: 29 Jun 2020 07:50 PM PDT For section 1031 how like-kind does like-kind have to be? Can I go from a duplex investment property to a large acreage timber investment property without having to pay capital gains? And if so does it matter if they are in different states? [link] [comments] |
| What is that one thing missing in your online real estate (buy/sale/rent) activity? Posted: 29 Jun 2020 10:38 PM PDT Looking for some interesting insights from real estate pros on this sub. I personally feel online real estate search and buy experience is very disconnected still. I also hate to leave my personal contact info and getting contacted by random texts by realtors later. What is your thought about current online real estate shopping? [link] [comments] |
| Posted: 29 Jun 2020 03:23 PM PDT Scenario: Duplex exists that I want to buy for $300,000. I want to be able to put 3.5% FHA or 15% Down conventional owner occupant (instead of 25% down investment) BOTH sides of the duplex have leases in place that extend into 2021. Can I buy it with an owner occupant loan, with full intentions of moving in (within the 2 months requirement period)? I would offer "cash for keys" and essentially form an agreement or bribe the tenants with money to move out so I can move in. Any experience with lenders letting this fly? [link] [comments] |
| Posted: 29 Jun 2020 06:53 PM PDT Is it possible to rent out adu separately from the main house? My plan so far is to buy a sfh with a detached garage and convert it into an adu where I would live and rent out the main house. Eventually I would want to move in like 2 years so that I can either repeat the process or get a house of my own while keeping the rental. I wouldn't be able to afford to keep the home without renting out the adu too since the rent I'm thinking of charging for the main house would barely cover mortgage * property taxes+ insurance. Would my only option be to sell or rent out the entire place including the adu? [link] [comments] |
| Best place to Accurately understand the value of a property? Posted: 29 Jun 2020 05:14 PM PDT Who has the best data sets and mist accurate algorithms? I'm trying price out particular California beach front property. Or should I pay for a Service / report like corelogic? [link] [comments] |
| Posted: 29 Jun 2020 04:46 PM PDT Anyone ever got a mortgage from QuickenLoans for a loan under $50K? If not, where could I find one? [link] [comments] |
| Posted: 29 Jun 2020 04:38 PM PDT I've been on the fence about getting into real estate investing, but i've decided to start by doing my own research and homework before I commit. I've been looking at a duplex in my area to use as an example, but i'm not sure how accurate my own spreadsheet is. It's helped me to learn about all the different operating/maintenance expenses, taxes, etc. But would it be safer (or more accurate) to just use a rental calculator? Like https://www.calculator.net/rental-property-calculator.html ? Thanks in advance [link] [comments] |
| What’s been your worst experience in real estate investing? Posted: 29 Jun 2020 08:39 AM PDT I've been looking at getting into real estate investing, prices are dropping in my town and based off my research so far I think it may be a good opportunity to enter the market in about a year. However, I'm a firm believer that the best learning experiences come from mistakes or bad experiences. So I'm curious, what are your worst experiences so far? What were the worst decisions you made? What did you learn? [link] [comments] |
| Is there a loan product for multiple condos in a single purchase? Posted: 29 Jun 2020 03:20 PM PDT Despite the hate for condos, I have 4 condos that I own and rent out and they cash-flow fine. I went into the tax records and found that there is another owner in my complex that has 6 units. If I were interested in purchasing these units from him, is there some sort of loan product or financing (other that private lending/owner finance) that would allow me to put 25% down and get 1 loan for 75% LTV for all of the units this owner is willing to sell to me? The current 4 I have purchased individually over the last 2 years. I'd like a way to purchase condos in bulk from the same owner. [link] [comments] |
| Posted: 29 Jun 2020 03:14 PM PDT Working on making an offer on my first investment property and would like some feedback before I go forward with my offer. Details are - 4 units, 3 one bedrooms, one 2 bed 1 bath. Monthly rental income = 1820 Taxes and insurance 4400/ year Utilities- 300/month Currently fully rented College town with high demand for cheap rentals, close to campus, well maintained, new roof, new siding, new foundation stabilization work, 1950's building but it is very solid shape. Owner will finance and wants me to make an offer, she's an older lady that I think wants to help me get started. I have about 50k cash. I will do at least 20% down and plan to negotiate with her in terms for paying her off. She is asking 195k, I am way lower than that when I run the numbers to make it work, what would be a fair offer to start with? I don't want to offend her with a lowball offer but also don't want to offer too much because it's what I've been looking for and convenient. [link] [comments] |
| Can I buy a duplex with an “Owner Occupant” if it is occupied by tenants on fixed length leases? Posted: 29 Jun 2020 03:14 PM PDT Scenario: Duplex exists that I want to buy for $300,000. I want to be able to put 3.5% FHA or 15% Down conventional owner occupant (instead of 25% down investment) BOTH sides of the duplex have leases in place that extend into 2021. Can I buy it with an owner occupant loan, with full intentions of moving in (within the 2 months requirement period)? I would offer "cash for keys" and essentially form an agreement or bribe them with money to move out so I can move in. Any experience with lenders letting this fly? [link] [comments] |
| Posted: 29 Jun 2020 11:26 AM PDT Hello, I recently bought my first investment property. During the process, I applied for credit from 5 different banks. All of them ran my credit within a 2 week window. I was under the impression this would show up on my credit report as 1 hard inquiry, but all 5 appear on my credit report today. Is this an error that I should contact the credit reporting agencies about? Will it resolve itself in time? It's been 2 months since my credit was run. Thanks [link] [comments] |
| Should we take the deal by the beach? Advice Needed Oceanside Ca Posted: 29 Jun 2020 02:55 PM PDT First time posting here so please be kind. My wife and I are looking to purchase our first home. Her family is from Oceanside, ca so we want to be in the area. We found an old 1950s house that was rehabbed and trimmed out. Sewer lateral, leaky pipe in the crawl space, kitchen, bathroom, roof, new circuits, everything! You name it, it's been fixed in this house. The price seems fair for the area. It's easily biking distance from south oceanside or a healthy walk. It should rent for $500 less than the mortgage. My wife has always wanted to do the BRRR method & I always wanted a duplex. This house offers neither but will probably appreciate more due to its proximity to the beach and shopping. Given that repairs on anything super major are not likely for the next ~10 years, is it worth riding the appreciation train and possibly renting it out along the way or just move on and add value to a fixer? Thanks! [link] [comments] |
| Questionable Equipment in House Posted: 29 Jun 2020 11:08 AM PDT We're looking at a house for sale and saw these photos showing equipment that appears for growing plants? Is anyone familiar with what's shown here and if any of it is a concern? Thanks all! [link] [comments] |
| Posted: 29 Jun 2020 02:32 PM PDT Hey guys. Does anyone have a lender who does homestyle and 203k lenders that they can recommend to someone? I want to have the option to buy properties more in need of repair. Thanks! [link] [comments] |
| Posted: 29 Jun 2020 02:21 PM PDT Note: I apologize if I have the wrong flair on this, I am a newer investor but I think my questions could fall into marketing, single family, and multi family flairs too. TLDR: Own an apartment building that is fully rented. Bought house to flip, finished remodel, local market explodes and now ready to sell to cash in. Unsure if I should sell SFH, remove a good tenant, move back into one of my apartments and wait for market to cool off before buying again, or continue with BRRR method and accept that the next house I buy is going to be high priced but at least I keep a property. Good afternoon Reddit, I have found myself in a spot I was not anticipating being in. I own a two unit apartment building that is now fully rented. Both apartments have fantastic tenants and I have a great relationship with both of them. I lived in the downstairs apartment for years and really enjoyed living there, closer to work, bigger garage, etc. I bought a home next town over because I was able to pick it up for very cheap from a family friend. I bought it with the intention of flipping it and I've lived here for about a year while I remodel it. My remodel came in significantly under budget and during the past 6 months the market blew up, everything comparable is under contract within a week and is selling for as much as 10-15% over asking price. My original plan was to follow BRRR but I am strongly believing I can get much more money out of the house buy selling it right now than I would keeping it as a rental. I can pull almost 6 figures in equity from this house, but it will only rent for about $200-300/mo more than the mortgage, I'd rather have the equity. Now obviously wether I sell it or keep it as a rental I now need a new place to live. I was planning on using my VA loan to purchase another home, either another multi family or a SFH that I can do another build on. However, given the insanity of my local market I don't want to buy right now; I'd wind up over paying. I'd rather wait a year or so and hope things slow down a bit. If I sell my home now, bank the equity and wait until the market slows (I'm guessing in 12-18mos) it should allow me to be much less leveraged going forward by avoiding any bidding wars on the next house. Rent on each apartment is $950, mortgage on the building is $1350; "profit" of $550/mo. On my current SFH, I pay $950 for my mortgage, meaning my out of pocket costs for living is $400/mo regardless of wether I'm staying in my SFH or living in one of my apartments. Selling my SFH and getting the equity would pay off all my debts minus the mortgage on my multi family and still leave me with a large enough sum to put down on my next home. So, to the experts here in REI I'm looking for your suggestions on the best move going forward, Would you remove a good tenant (that you really don't want to) and then sell the SFH, bank the equity and wait for the market to slow to buy again? Would you try to rent and refinance the SHF and keep it as a rental accepting you will not be getting a good price on the next home? Is there a third option I'm missing and should consider? I appreciate all of your help in advance. [link] [comments] |
| Apply at Quicken and Rocket Mortgage? Posted: 29 Jun 2020 02:09 PM PDT Is there any reason to, or not to, apply at both Quicken and Rocket Mortgages? I understand they are essentially the same entity. I do not want two hard pulls on my credit report if it's totally unwarranted. Yet, if they compete with one another on rates, then maybe it is worthwhile. Any comments or insight would be appreciated. [link] [comments] |
| Analyzing a 3-family property for sale. Need help please! Posted: 29 Jun 2020 01:45 PM PDT Hi! hoping we can get some advice... My husband and I are looking to purchase a 3-family property listed for $1.050M in the Boston area. One of the units in rented at $1,200 (way below market value), the other is vacant and the last one is demoed and partially renovated with rough plumbing, electrical and HVAC completed. We estimate that renovations will cost approximately $200K to finish everything, including minor touch ups that are needed in the other 2 units. Our plan is to move into the vacant unit while finishing the renovations on the third unit. We would also increase the rent for the first unit to $1,800 (which is still low for a 3 bedroom). We estimate we could get $2,900 for the third unit once all renovations are done, and we could get $2800 each for the other two units (keep in mind, we'd be living in one for at least a year). We plan to buy and hold this property. According to our real estate agent and after doing our own due diligence, the property is overpriced - it's been on the market for 7 months and it still needs around $200K of work. This is what we calculate our monthly expenses to be: We have been quoted 3.625% with 1 point (1% of the final purchase price) for a 30-year mortgage. We'd put down 25% for the downpayment. We put in an offer for $900K and were denied (no counter offer). We are second guessing ourselves and wondering if we should go higher with our offer, in fear that we are going to miss out on a good deal. Do you agree? Not agree? And up to what price would the deal make sense if we want to be cash flow positive within the near future? Any thoughts help. Thank you! [link] [comments] |
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