Real Estate Investing: 16 x 32 inground pool...fill in with dirt or spend 5k fixing |
- 16 x 32 inground pool...fill in with dirt or spend 5k fixing
- [Landlord - OK] Has anyone else had issues with Chase collapsing your credit limit?
- Single family rental in town vs condo in ski resort town
- Estimating operating expenses and the 50% rule
- Loan pre approval
- I'm BRAND new to Cash out re finance, could someone explain?
- What is the best route to take for new investor partners looking for low down payment loan?
- What are the basic things to learn to get a solid grasp?
- Who’s thinking about selling some properties
- Duplex or home for renting out? Which is a better investment
- Ski vacation rental property investing
- As far as job history, what do lenders ask for?
- Preparing myself for Real Estate Investing
- Commercial vs residential real estate?
- Do you think there will be a return to a buyer's market in the next few years?
- Help me understand.
- When are you eligible to take equity out?
- Advice for a young guy getting into the game - purchasing 5 acres... considering options.
- Can I use common stock shares as collateral for my first investment?
- New Jersey BRRRR Financing Q:
- Renting out to domestic violence rental assistance folks?
- Hows the Phoenix market looking because of Covid?
- Profit 30k/year on Commercial Properties
- Should I cash out refinance now?
16 x 32 inground pool...fill in with dirt or spend 5k fixing Posted: 02 Jul 2020 02:33 PM PDT Bought 4 br 2 bath brick in lcol area for 71.5 + 10% sellers fee at auction. It has an inground pool but hasnt been in service for probably 5 years or less. Most advice i have gotten is fill it in, but i am still considering a new liner if that will get it ready for water. Anyone have pool experience please advise. Also, how long from closing does an average flip take? [link] [comments] |
[Landlord - OK] Has anyone else had issues with Chase collapsing your credit limit? Posted: 02 Jul 2020 02:20 PM PDT I won't lie. Times are rough. I have a $7K or $10K card with Chase business. I just approved a sewer drain repair, etc. My credit limit is now $3700. My utility bill was declined. I will weather the storm but I'm really disappointed in Chase. This might be a final straw. We'll see how they handle us Amazon customers. [link] [comments] |
Single family rental in town vs condo in ski resort town Posted: 02 Jul 2020 05:02 PM PDT I currently have opportunity to go one of two ways with getting a new rental property. I can go with a 3bed 1bath single family home in my town priced at 94k, or I could go with 1bed 1bath condo 10hours from me in a ski resort town that we love and have been to the past 2 years, literally steps from the ski resort priced at 90k. The single family home would be able to rent for $975/mo, and would be decent cash flow. The ski resort condo could easily get $100/night doing nightly rentals, but obviously the resort town has busy times and off seasons and says no HOA but each owner has an operations account that taxes, maint, etc is paid from (not sure how that works yet). I have another sfh that I own in town so I am familiar with that, so I have less hesitation about adding a new one. But, the ski resort property seems intriguing and has other potential upsides like my SO and I using it numerous times a year. Anyone have any advice/thoughts/personal experiences they'd like to share in relation? [link] [comments] |
Estimating operating expenses and the 50% rule Posted: 03 Jul 2020 12:16 AM PDT I want to preface this by saying I am fairly new to real estate investing and I'm looking into buying my first property. From my learning, I have obviously become familiar with the 50% rule and that maintenance should be around 1-2% of home value per year. I have built out a full excel workbook to analyze rental properties and I continue to run in the issue that my expenses are much lower than the 50% (usually around 30-35%). Also, whenever the seller or agent provides financials, the expenses are similarly low. My question for those who have experience in this space is: Do you find that expenses typically fall in this lower range or is the 50% rule generally accurate? I understand every property is different and will require more or less maintenance, but I'm looking to confirm whether my estimates are far off-base or does the 50% rule hold? [link] [comments] |
Posted: 02 Jul 2020 06:14 PM PDT I want to get a loan for a rental, the interest rate is much higher than just buying a property for living in as a primary residence. What would be the implications of saying I want to live in the property even though I intend to rent it after say... living in it for a month. My primary residence is one I would say I want to sell... but not really sell in the end. Curious what the legal implications are if any. Thanks in advance. Edit: Seems the consensus is that it's fraud. Thank you for the information. Will not be listening to advice from someone who is not even in real estate investing again, which is where this post originated. [link] [comments] |
I'm BRAND new to Cash out re finance, could someone explain? Posted: 02 Jul 2020 03:47 PM PDT I own a Single family, no mortgage worth about 250k And I'd like to pick up another one. Would I get an Appraisal than go to the bank or does the bank do everything? Is one bank better than another? What are the interest rates like? Are there closing costs? Thank you [link] [comments] |
What is the best route to take for new investor partners looking for low down payment loan? Posted: 03 Jul 2020 12:41 AM PDT My partner and I are looking to get into getting a multifamily home. He has a good income and decent credit (650) while I have decent income and great credit (760). I already own a home and this would be his first purchase. I am leasing out the other home, but the idea is that we get a multi-family and rent out the other units while living one of them. I would like to be a co borrower as with my credit we would get a better rate and with our combined income we could afford a decent place. Our biggest hurdle right now is the down payment and I was wondering what options their were to get a multi-family home with a low down payment, possibly taking advantage of the fact that this would be his first home. [link] [comments] |
What are the basic things to learn to get a solid grasp? Posted: 02 Jul 2020 02:47 PM PDT I hear people talking about holding real estate, stocks, and buying/investing in real businesses. For this type of thing how much percentage of networth does a person invest in real estate and how much roi does a person expect to get out? Including taking time to renovate and hold or flip property. Did you, and should I as a mandatory thing learn about financial planning and portfolios so I can learn how to manage risk, and reward? What are concepts that I should learn about to be able to find houses 'fast', and fix them fast and sell them for a decent profit and get on to the next house? [link] [comments] |
Who’s thinking about selling some properties Posted: 02 Jul 2020 12:12 PM PDT So far, the real estate market hasnt been effected much by COVID. Ppl were calling for crazy '08 drops in price, i thought inventory would dry up, leading to prices remaining stable. So far I've been proven right, as I barely see new listings come online in my own city. Are any of you all planning on selling any homes right now in case "the shoe drops"? Curious as to what others are doing. My properties all cash flow atm, but I'm considering liquidating maybe one or two [link] [comments] |
Duplex or home for renting out? Which is a better investment Posted: 02 Jul 2020 10:07 PM PDT What is a better investment? Duplex or getting a single family home. I currently reside in California in the inland empire area. I want to rent out either a duplex or a home? Also would it be possible to buy properties outside of the state? I know it's tough but I've seen people use services such as property management. Any thoughts or ideas would be greatly appreciated. [link] [comments] |
Ski vacation rental property investing Posted: 02 Jul 2020 10:40 AM PDT Anyone investing in vacation rental properties at ski resorts? Curios how many days/year units typically rent. Also curious if anyone is concerned about long-term weather pattern changes? I recently read a report on the changing snow patterns which got me curious what others are doing to prepare? [link] [comments] |
As far as job history, what do lenders ask for? Posted: 02 Jul 2020 06:09 PM PDT Do they need you to be at a job certain amount of time? I've been at my job for 7 months, with the last 4 out due to injury. Does this look bad? [link] [comments] |
Preparing myself for Real Estate Investing Posted: 02 Jul 2020 03:40 PM PDT What are some good ways to save and grow as much to be able to invest in Real Estate? I am currently 26 years old. I am graduating with a history degree next semester. I currently have about $10,000 saved in cash with about $10,000 saved in investments both in 401(k), Roth IRA, and various taxable accounts including individual stocks, Fundrise, Roundinvesting, Worthy Bonds, Robinhood, and a host of various other investment platforms. I currently pay no rent and have no debt of any sort. I just finished paying off my car. I have a part-time job working at a well-known employer (Irvine Company) and am making about $1200-$1400 a month. I am currently saving and investing about 30-50% of my monthly paycheck. I am planning on applying for a full-time job soon. Eventually, I will probably end up teaching at a private middle or High School and pursuing a Master's in Theology. I probably will not be able to be a teacher until probably at least the Fall of next year so I will also be applying to other jobs when I graduate in the fall probably to banks, other financial institutions, or simply a better paying, full-time job. What are some of the things I can be doing right now besides reading up and researching on real estate investing? I just finished reading Brandon Turner's book on rental property investing. Are there other investing platforms that I can tap into such as Fundrise with my limited monthly paycheck? Is DiversifyFund good? Roofstock? Are there other non-app platforms I can tap into? [link] [comments] |
Commercial vs residential real estate? Posted: 02 Jul 2020 09:12 PM PDT I want to get into real estate but I don't know whether I should get into commercial or residential real estate. Please list pros and cons of each. Right now commercial is looking like the better option. Thank you! [link] [comments] |
Do you think there will be a return to a buyer's market in the next few years? Posted: 02 Jul 2020 10:57 PM PDT So housing prices in my area (CO) are extremely high. Prohibitively high. Do you think that over the next say, five years, there will be a drop in housing prices? Boomers dying off? Covid effects? Or would it be worth biting the bullet and buying a few properties now, if they'll continue to appreciate or at least stay the same? [link] [comments] |
Posted: 02 Jul 2020 01:05 PM PDT Let's say I'm 40 years old and this year I buy 5 properties on a 30 year, separate, loans and rent them out. Does it mean I'll start making money at around age 70 since that's when I'll be done with the mortgages and the money will be finally come into my pocket? This is me thinking that the rent will be used to pay for the mortgages and to upkeep the properties. I'm begging to learn, I know partial answer to this, but ask in this way as if I no nothing to better understand. Thanks [link] [comments] |
When are you eligible to take equity out? Posted: 02 Jul 2020 06:03 PM PDT Do you need to pay on the mortgage for a certain length of time or do you need to pay a certain percentage of the mortgage before you take out equity money? [link] [comments] |
Advice for a young guy getting into the game - purchasing 5 acres... considering options. Posted: 02 Jul 2020 06:23 AM PDT Hello all, I have learned a ton over the last few months between this subreddit and various books, podcasts, and other sources of information which I seen recommended here first. Pretty awesome. I am 23 years old and have been working my first "real" job for the last year and half since I graduated college. I have been extremely frugal and focused on saving money since I was about 16 because I watched a close family member essentially retire in his 40s and live comfortably by successfully investing in real estate.. specifically a mobile home park. I have finally found a piece of land that I will be purchasing. It is 5 acres. ~ $60,000. This will deplete nearly all of my cash. I am considering and asking for your insight about what type of rentals to establish on this property now. Initial thought was to purchase a cheap mobile home and get it rented as fast as possible on one side of the property while I live on the other. Over the next 2 years I believe I could establish 4 mobile homes on the lot as well as my own house. If I didn't live here I could fill this lot up with 6-8 mobile homes. Recently though I have been reading more about multi-family homes and I am now seriously considering this option. I have 0 experience dealing with contractors. I know this option will take longer to see cash flow and I am unsteady about relying on someone else to build my asset. However, it really seems like this option would make me significantly more in the future. Any thoughts are welcome and I'm happy to provide additional details. Ask away. [link] [comments] |
Can I use common stock shares as collateral for my first investment? Posted: 02 Jul 2020 11:58 AM PDT Hello. I am 23 years old and really want to get into commercial or multi-family real estate investing, but I'm not even graduated from college yet (I will be in December), I have minimal income history and it's nearly impossible for me to take out a mortgage at the moment. However, I was privileged and lucky enough to have inherited common stock in a family company, totaling a little bit over $900,000 in assets. I have a well paid job lined up after college as well, and am wondering how long it will take or what I should do to get started in investing. I also understand that I can use an FHA loan which will allow me to have a lower down-payment. Is it possible to use common stock as collateral for a mortgage, since I would likely get denied due to my lack of history? My only current debt is a motorcycle loan which has $5,000 left which could be paid off by next year and my credit score is above 750. I'm open to any advice! Thank you! [link] [comments] |
Posted: 02 Jul 2020 03:24 PM PDT Hey All, In the process of renovating one 4-plex and about to acquire another one. Both are bought using Hard Money. Looking down the line, what kind of terms can I expect to receive on the refi? I can find mid 6% on a 30 year without an issue but I was hoping to find mid to high 4's given the current rates for owner occupant. Would love to hear from anyone who has refinanced a 2-4 unit investment property held in LLC in the past 90 days. [link] [comments] |
Renting out to domestic violence rental assistance folks? Posted: 02 Jul 2020 11:31 AM PDT Anyone have any experience? Any anecdotal lessons? (I'm talking about people who are receiving rental assistance from government as a result of domestic violence... not that my tenants have been convicted of domestic violence while in my unit). Thinking of taking on some of these tenants, but not sure what the pitfalls are. The gov't assured rents are definitely enticing. But I can see how this might be an issue if the husband / wife / whoever was causing an issue brings drama to your property. What to avoid? Tips? [link] [comments] |
Hows the Phoenix market looking because of Covid? Posted: 02 Jul 2020 03:06 PM PDT This is Phoenix, Arizona. Im a new investor and have just two properties. I have one coming up for renewal in september, and Im wondering how you guys feel the rental market is in Phoenix now? The current tenant is awesome and pays on takes care of my place, so I wanna play this the right way. He signed in Sept of 2018, when the market was really good. I havent talked to many people who rent in phoenix about covid. Do you think there should be an adjustment due to covid. If the market is down i dont want this guy leaving. He likes deals. Thanks in advance! [link] [comments] |
Profit 30k/year on Commercial Properties Posted: 02 Jul 2020 01:41 PM PDT I'm doing some researching into the cash in hand profit you can make off of commercial properties but I'm coming up short on much data. I did my own quick analysis of roughly what it would take to get a steady 30k/year income stream and it looks like a lot. Looking at Triple Net properties, here is my quick math: 14,285,000 property 30% down 10,000,000 loan 6% cap rate 857,000 Gross Profit Loan: Interest Rate: 5.5% Amortization: 20 years Term: 5 years 68,788 P&I payment 825,000/year Cash on Cash Profit: 32k/year EBITDA Is this how much it takes to try and take home this amount or am I missing something? [link] [comments] |
Should I cash out refinance now? Posted: 02 Jul 2020 01:29 PM PDT I'm concerned a Recession is looming and I own a 4plex in a C grade neighborhood that I considered selling before COVID but ultimately held off because I wanted to keep my cashflow solid during these turbulent times. I know Sellers are getting pre-covid prices on their homes right now and I'm wondering if doing a cash out refinance makes sense so I can take advantage of the high valuation of the property before the economy tanks (if that happens...) but also keep collecting some rents for now... This would eat into my cashflow a bit but ultimately might make sense? Advice welcome [link] [comments] |
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