Real Estate Investing: Property managers suck if you have a low number of units |
- Property managers suck if you have a low number of units
- For the BRRRR strategy, help me explain how people get rich out of the refinance part
- First time buying a Gas Station. Need advice.
- Residential investors: How do you research markets and analyze properties?
- Cash Out Refinance
- Any Europeans (or more specifically Dutch) folks around here to give some advice?
- Thinking of getting into short term rentals of tiny-house lake cabins
- Security deposit dispute among tenants
- Industrial real estate investing?
- Tax lien investing
- Military Real Estate Investing
- Using equity to purchase another home
- What would you do with $100k living in california?
- Is it possible?
- Is it even possible??
- Is it feasible to get started into being a landlord with little money?
- How exponentially can you expand using BRRRR?
- So my mother owns property in Honduras and she is trying to sell it
- Selling property, possible to not pay off mortgage?
- Buying stake in a condo...? Need advice.
- Investing at the edge of grays ferry philadelphia
- Should I Buy or Rent?(US) for rent vs buy calculators where are you pulling raw data from?
- Beginning Investor question for Tennessee investors.
- Mortgage right away OR purchase w/ cash then refi?
| Property managers suck if you have a low number of units Posted: 02 Jun 2020 05:32 PM PDT I want to give a heads up to people considering hiring a PM company. I recently moved out of the area where I bought my duplex. So I started asking a few other experienced landlords in the area who I knew. One of them had 25 units and the other had over a 100 units and they both recommended me the same company. These landlords told me they were paying a flat fee of 5% and 3%, no issues with them. When I contacted this company they said it was going to be 9% with releasing fees and a 10% markup on repairs. I was able to negotiate it down to 8% and lower the markup fees. Within 3 months I noticed how much they were nickle and diming me for every little thing. We had a vacancy and it took them nearly 2 weeks to put the ad up and charged me a full months rent to screen the tenant. I talked to the landlords who recommended me this company and they had none of these fees and repairs magically cost way less for them. I went with another company after that and they were even worse, they wanted 10% and had more fees. Then the owner of the company told me if I had over 15 units he could knock off all these fees and give me 6% flat. I ended up just managing myself from a distance. [link] [comments] |
| For the BRRRR strategy, help me explain how people get rich out of the refinance part Posted: 02 Jun 2020 01:48 PM PDT So to my understanding -
My questions are:
[link] [comments] |
| First time buying a Gas Station. Need advice. Posted: 02 Jun 2020 10:05 AM PDT My dad is looking to buy his first gas station. But, he does not want to run it. He wants to lease it out to an individual/company. When I search this up online, all I hear about is two options:
I am confused on the structure/relationship and would like some advice on this. I was wondering a few things:
I read checking for fuel leakage and running fuel storage on the property is a must. What else?
If we are putting 20% down on a 2 mil property. 400,000 equity, 1.6 mil debt with 4% interest rate. Interest per year = 64,000. My research on the property shows it would yield 120K in cash flows. But, I'm confused if that's the case for running the entire gas station OR owning it and leasing it to an individual/company. Assuming it's for owning it and leasing it out, Earnings before taxes / Equity = 14% Am I doing this correctly?
We have experience in owning residential property but never gas stations. Insight into this would be valuable! If you believe I am asking for very basic advice, please let me know! I will do more research and come back with more specific questions. Thank you in advance! [link] [comments] |
| Residential investors: How do you research markets and analyze properties? Posted: 02 Jun 2020 01:08 PM PDT Hi, I have about 20 units in my portfolio (mix of SFH, multi family and a small apartment building). I'm already priced out of my own state of California, so I've focused on other states to invest in. I found them all by being diligent and through manual research (find an area, search for listings, analyze market, calculate expenses/income, review comps, review economic condition and trends of cities and zips, neighborhoods, etc.), but it's time consuming. So on to the question: How do you conduct your research and analysis? How much time do you spend per week or month on it? Thanks, Alex [link] [comments] |
| Posted: 02 Jun 2020 04:37 AM PDT I currently own 3 units, and I want to pull out $150k of equity to start acquiring more property. I'm finding that this type of loan has a large cost (points?). Is this pretty common or is it the uncertain environment driving this? Also, any other tips of advice when shopping around for this? Any thing else I should be asking? Thanks! I'm a noob. [link] [comments] |
| Any Europeans (or more specifically Dutch) folks around here to give some advice? Posted: 02 Jun 2020 03:40 PM PDT Most of the posts I encounter here seem pretty US focussed, or at least that's the way I perceive them. Could anyone who's European based share some experience and highlight some of factors that differentiate European real estate investing versus American real estate investing from each other? [link] [comments] |
| Thinking of getting into short term rentals of tiny-house lake cabins Posted: 02 Jun 2020 08:23 PM PDT In my surrounding market of Minnesota/Wisconsin, people really enjoy coming up here for the peaceful lake home experience. I am new at real estate investing. I was thinking that an inexpensive entry investment into the market would be just buying a couple acre lakefront lot and tying down and hooking up an RV classified tiny-house cabin on it, and set up a VRBO/ AirBnB business model. Something along these lines. https://elegantrusticcabins.com/ I figure that would be a cheaper, less hassle route than buying an existing used cabin property, or having to deal with constructing a foundation for a regular building. Plus the tiny home movement is picking up steam and AirBnB users are looking for unique places. Edit: I would be doing this project in the Spring 2021, hopefully the vacation rental market will be on the upswing by then. I cant help but feel like Im missing something. Am I crazy here? Could i get some advice, encourage me or talk me out of it? Thanks [link] [comments] |
| Security deposit dispute among tenants Posted: 02 Jun 2020 11:46 PM PDT Own a residential property where the mother and daughter are both on the lease. Each is arguing for us to return the security deposit back to them at the end of their lease (they're not renewing). The security deposit was paid by the daughter, so I think (??) it should go back to her... but her mother is technically also on the lease, so maybe it should be 50/50... what should we do in this situation? [link] [comments] |
| Industrial real estate investing? Posted: 02 Jun 2020 03:23 PM PDT How does someone get into industrial real estate? Where do you get research for the necessities of certain industrial properties like a factory or warehouses? Those of you in industrial real estate, could you enlighten me on this type of RE investing? [link] [comments] |
| Posted: 02 Jun 2020 06:25 PM PDT Anybody else have any success tax lien investing? I've had great success in georgia and was wondering if there was anybody else on here who has also had success. By great success I mean I'm making over 150k annually now in rental income after only having invested around 250k in the past three years. [link] [comments] |
| Military Real Estate Investing Posted: 02 Jun 2020 10:03 PM PDT Hello! So just some background information, I am currently in the military as an officer. I'm finishing up my first assignment and will be onto my next assignment for at least 3 years. My current military job is more family friendly with very little chance of deploying. Currently, the only debt I have is a car payment that I am still paying off @ 2.99%, will finish by end of year. I am looking to purchase a house at my next station. My BAH will be 2.6K. I'm still very young and I'm still doing research and am new to this. So my current station is significantly cheaper ~300K for a house while my next station is upwards of 500K. I'm thinking about buying a duplex and utilizing my VA loan and getting a property manager & renting it out once I leave. The issue is that the house at my next station is significantly more expensive and if I was stationed here a little longer, I'd most likely purchase on here instead. I'm not very knowledgeable about the current housing market but I do know that interest rates are very low, at the same time, I also believe housing supply is very low. Do you think it's a good idea to invest in a property at my next station, given that the housing cost is super high? I do get higher BAH to make up for it. I'm also promoting shortly, so my income will be sitting at around 80K w/ a 3K BAH. Sorry if I'm really lost, but would love your insight. Edit: Also, please recommend any resources for education! Thank you. [link] [comments] |
| Using equity to purchase another home Posted: 02 Jun 2020 05:54 AM PDT Hello, I currently own a second home (tenant occupied), I currently rent where I am living and thinking about purchasing a primary home for myself to live in. What does the process look like if I want to use equity from my existing property to purchase another and does it make financial sense to do so if I am able to make the 20% down. I always like the idea of having more cash in my pocket. Any insight into this process would be really helpful. The home currently has a LTV of just under 79%, I didnt put the 20% down on it. Thank you! [link] [comments] |
| What would you do with $100k living in california? Posted: 02 Jun 2020 08:47 PM PDT Please help! I'm open to lots of ideas, but i'm aiming towards purchasing an investment property. Currently paying $25k per year on RENT at some crap apartment. Please help [link] [comments] |
| Posted: 02 Jun 2020 08:43 PM PDT VERY NEW TO THIS WHOLE THING. Is it possible to purchase one unit of an apartment complex, or you you have to purchase an entire unit? Probably a dumb question, so please be kind... [link] [comments] |
| Posted: 02 Jun 2020 08:18 PM PDT So some background. I'm 30. Work full time with a 100k salary. Stable work but does get busy at times. I've got probably 40-45k to play with at this time. I live in SoCal and rent my room. I've been scoping for small condos or townhouses that has a market to support the math however the initial down payment here is so high. Is it even possible to start investing in this area? I'm hesitant to purchase property outside of California as management would be difficult. [link] [comments] |
| Is it feasible to get started into being a landlord with little money? Posted: 02 Jun 2020 02:03 PM PDT I have recently payed off all my debts, I make a modest 50k salary a year, and can generate about 12k a year in extra money. I am not really enjoying healthcare anymore and I have acquired a lot of skills remodeling my own home and helping friends over the years. I'm not really interested in flipping houses unless I could get into real estate full time, but the prospect of being a landlord was brought up while I was shopping for property investments. I don't wanna get rich quick or be a millionaire and in my area, owning as little as 12 houses will set you up for life. I'm just looking for a slow building momentum that could become my full-time job. The average home price here is around 115k and property taxes are some of the lowest in the country. Many of the 40k properties rent for 500-600 a month, and a good house is about 70-80k, a modern home in tip-top condition is 115-150k. 300-500k is a mansion, and for the really ambitious there are some properties on the mountain overlooking the valley nearing the million marks. So real estate is cheap here. The property I'm looking at right now is 59.5k and currently used as a daycare, tenant has been there for 10 years and never missed rent, the owners just don't want it anymore. My payments after 20% down would cost me $209, property taxes are $512 per year, rent is 600. So an income gain of about $4180. I had a bankruptcy following my divorce about 5 years ago, my credit is well above 700 Have I got enough to get started? I hear getting more than 4 mortgages is extremely tough? Is it feasible to get 12-20 properties quickly just using rent incomes? How long might I need to keep my professional career? Anyone have any personal experiences to relate? [link] [comments] |
| How exponentially can you expand using BRRRR? Posted: 02 Jun 2020 07:27 PM PDT Suppose you're starting off in a city, say Miami or Ft. Lauderdale, and you have around $200,000k of Capital ready time deploy, realistically, how quickly could you expand? How many units can you start with in such a pricy market? What's a good way to expand outside of your borders? with the most aggressive investment philosophy, how much can you really expand? [link] [comments] |
| So my mother owns property in Honduras and she is trying to sell it Posted: 02 Jun 2020 07:17 PM PDT So my mother owns property in Honduras and she is trying to sell it but we live in California, is there any way to promote the property somewhere online or how to sell property in a different country, there's no realtor involved or anything the property is just sitting there. We are planning to use that money to move to AZ [link] [comments] |
| Selling property, possible to not pay off mortgage? Posted: 02 Jun 2020 06:33 PM PDT ONTARIO, CANADA - I recently refinanced a mortgage into a fixed closed 2.71% 5 year mortgage. But just now been offered an amazing deal to sell the property. The penalty to break a closed mortgage is ~17-18k at this time. My main question is Can I sell the property but keep the mortgage liability around? I'd rather if possible keep the low interest mortgage until the penalty for breaking the property decreases more. I also have a prepayment privilege available to me this year, I can put in 75k against the mortgage prior to the sale and I would save ~4k in penalty costs (~5% return on the 75k). Any advice? Even with the penalty, what I am being offered still makes sense. Mortgage 345k at 2.71%. PP 696. CB 819. Original downpayment 10 years ago 200k. Current offer 1,368,000. [link] [comments] |
| Buying stake in a condo...? Need advice. Posted: 02 Jun 2020 06:12 PM PDT Hello! I'm hoping some of you (read: at least one of you beautiful, experienced folks) can give me some advice. An acquaintance of mine owns a condo outright- no mortgage, no lease, blah blah you know what outright means. She is now, however, in some dire straits due to an injury that kept her from working for several months. She wants to sell the condo and pocket the cash, and I suggested she keep the condo and just rent it out according to the HOA guidelines while living in a smaller space that is less expensive than the rent she would be charging on the condo. Because she is hard up for cash, though, she's still leaning toward selling the thing. So my question here is, could I buy 51% of her condo? And then, as majority owner, be able to manage the renters, etc. and split the rent with her 51/49? Would it be better to buy majority stake under an LLC? Is this even possible?? Is there an even better option that I don't know about? I am green in the world of real estate investing, and this would be my first purchase of property- though definitely not my last. [link] [comments] |
| Investing at the edge of grays ferry philadelphia Posted: 02 Jun 2020 05:43 PM PDT What are your thoughts on the area 25th and Federal. I was thinking of buying a house there and renting out rooms. Is there a demand there for people renting? [link] [comments] |
| Should I Buy or Rent?(US) for rent vs buy calculators where are you pulling raw data from? Posted: 02 Jun 2020 05:35 PM PDT which database is the most accurate by zipcode level? Anyone have an excel sheet that automates the process for a given zip (preferably) or city? Not sure who is accurate for what with redfin vs zillow vs trulia Seems like many such calculators when you input your zip have the same assumptions for all zipcodes, which just isn't true (ie rent hikes and freezes) I had a similar question a couple days back and was given a zillow dataset but parsing it anda aggregating it will be more difficult than it seems (inversion, 12 month aggregation is more difficult than say in SQL) etc [link] [comments] |
| Beginning Investor question for Tennessee investors. Posted: 02 Jun 2020 04:42 PM PDT Anyone have an idea if it is still worth investing in Nashville TN at this point with home price soaring through the roof? Has anyone looked into the Clarksville area where you get much more property for you buck and it is still a developing area. [link] [comments] |
| Mortgage right away OR purchase w/ cash then refi? Posted: 02 Jun 2020 10:43 AM PDT If I have the cash to do it, would be better to buy an investment property with cash and then try to do a cash out refi? Would the rates be different? I assume I would have additional negotiating power if I was able to bring an all-cash offer? [link] [comments] |
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