Real Estate Investing: Do mortgages have to be paid off by the legal borrower on the mortgage? |
- Do mortgages have to be paid off by the legal borrower on the mortgage?
- Important questions to ask as a newbie.
- Is 4% cash-on-cash return ever worth it?
- Help analyzing duplex deal. Deal okay or no-good?
- Is now the right time for me to start investing?
- Long distance real estate investing
- How to get started?
- Brewerytown - Philadelphia
- Need help
- Pets
- How To Approach First Rental Home
- For the investors doing / going through CONSTRUCTION!
- Keep renting or sell
- Im interested in real estate investing and want to learn more, what are some resources that have helped you?
- Getting ideas for financing my third home. All ideas welcome and appreciated.
- Retro gas range/oven in rental. Replace or leave it?
- Looking for Edmonton/Alberta mentor
- Are the calculations for home insurance on sites like Zillow accurate ?
- (NC) how are you finding local investors ?
- Does anyone have experience in getting a mortgage as a non resident citizen?
- What are people using since Automatic shutdown?
- tested positive for covid, fidelity is allowing me to withdrawal from 401k w/o 10% penalty, should I invest it in a small real estate deal?
- Hcol costs only make sense when I put 20% down
- What's the Best Way to Save on Commission with an Inactive Real Estate License?
| Do mortgages have to be paid off by the legal borrower on the mortgage? Posted: 30 Jun 2020 09:55 PM PDT |
| Important questions to ask as a newbie. Posted: 30 Jun 2020 09:19 PM PDT What are some questions you wish you had asked a mentor early on in your career? [link] [comments] |
| Is 4% cash-on-cash return ever worth it? Posted: 30 Jun 2020 09:12 AM PDT Looking to buy a two-family home in one of the most expensive real estate markets in the country. Ideally would like to live in one unit for several years. It would be a much nicer unit for significantly less money than we're paying now to rent (negative cash flow but still an attractive situation relative to present). After we move out, expected cash-on-cash return with both units rented is 4-5%. Is there ever a situation where this makes sense? This is not counting the equity we would be building in the property as we pay off the mortgage. We're looking to live in a nice, historic home that we'll lovingly take care of. We've long given up on making good money in this area and are more looking not to lose money. This is the most reasonable way we've found to afford home ownership in this pricey area, but wondering if we're playing a game we'll regret. Thanks for any advice! [link] [comments] |
| Help analyzing duplex deal. Deal okay or no-good? Posted: 30 Jun 2020 10:42 PM PDT City: Raleigh Area: B/B- area suburban area Purchase price: $320K with $15K closing cost and "repair credits" paid by seller .... so the net price I'm paying is $305K I will be using a 15% down owner occupant loan and occupying one unit. All calculations are based on once I move out, and both units are rented. Down Payment: 15% down 2.99 rate, $41,500 ***Repairs needed for max rent: $30K Total monthly payment: $1461/month *** includes: principle, interest, taxes, insurance, no HOA. All fixed costs**** projected rent: $2400/month Maintenance: $120/month Vacancy: $120/month Capex: $120/month Cash flow: $579/month COC ROI: 9.7% [link] [comments] |
| Is now the right time for me to start investing? Posted: 30 Jun 2020 11:43 AM PDT I've had the dream to invest in real estate for quite some time, but haven't always had the funds to do so. I currently live in Atlanta, and have managed to save up a little under $100,000 since finishing college. I managed to do this while working full time for 4 years and living in a rental apartment. My issue now is - I'm planning on getting married soon and moving to LA (within the next year). I don't want a big wedding or anything, nor do I want to live lavishly. I just want enough to get by, have a small wedding, have an emergency fund, and most importantly, start investing in real estate. Side note, I have parents already investing in real estate in Miami. I'm sure they wouldn't mind helping me manage the property if I decided to buy one in Miami. But Miami gets a lot of hurricanes (so property gets destroyed often), and I'd rather have more involvement with my investment property (rather than letting my parents be responsible for it for me). Atlanta has great properties, low prices, and no natural disasters - but I'm not close to anyone living there. What would be my best approach to start investing in real estate? A couple of questions I've been considering: 1) Should I continue living in a rental apartment while investing? Or is it better if I hold off on investing and instead buy my own home? 2) Should I buy the property in Georgia/Florida (can get a better property, but will need a property manager/family) or LA (more competitive, money may not go as far)? 3) Should I make these moves now? Or wait until after I move to LA and get married? (Hopefully coronavirus will also disappear by then) 4) If I do decide to invest now, how much should I invest, and how much should I save for emergency funds/wedding/moving? [link] [comments] |
| Long distance real estate investing Posted: 30 Jun 2020 06:20 PM PDT Hello, I am from Toronto Ontario . Investing in real estate in Toronto or the GTA is quite pricy, my parents have done it but returns are minimal , major benefit is the gain in equity (IMO). I am looking at investing into multi family homes approx 3-4+ hour drive away from Toronto. My question is to those who have invested further away how do you make that feasible. Eg property managers ? Local relationships with contractors ? Etc Bonus question - any major benefit for having real estate investments in holding company ? Thanks in advanced [link] [comments] |
| Posted: 30 Jun 2020 09:14 PM PDT Hi all, First post here. A buddy of mine and I have always talked about investing in real estate, but have been hesitant to pull the trigger on anything because we're generally risk-averse and don't have much knowledge regarding the real estate market. What general advice/opinions would you give to get started? For reference, we're located in the LA area and have healthy amount in cash savings. [link] [comments] |
| Posted: 30 Jun 2020 04:38 PM PDT Hey all Anyone invest in Philly, specifically brewerytown here? Looking to buy my first property in the area and looking for some insight. I'm considering a few properties around 25th -26th between oxford and Cecil B. My plan is to live in the property for a bit with friends who will be paying me rent. Wondering what your outlook is on that area of brewerytown specifically, and what it's like to actually live in that area. I can see that area gentrifying further and eventually connecting up towards the temple area, but not any time soon. [link] [comments] |
| Posted: 30 Jun 2020 08:21 PM PDT Need feedback on this for the purpose of learning about how to tell if duplexes are good for looking into or not. I can look at sfh and know, but have no experience with mfh. Can you look at this link and tell me the good and bad. Thanks [link] [comments] |
| Posted: 30 Jun 2020 08:03 PM PDT Prevailing rate for pet fee/rent? I'm looking at a $250 non-refundable fee regardless of the pet, $10 per cat a month and $25 per dog per month. Max of two animals. Weight/breed restrictions apply. Am I way off/missing anything? TIA [link] [comments] |
| How To Approach First Rental Home Posted: 30 Jun 2020 07:27 PM PDT For a while now I've been interested in buying a house as an investment to use as a rental. I'm familiar with the home buying process as I have my own home, but was told by a friend that its best that I not buy the rental home as John Smith but instead start an LLC and buy it as "John Smith Properties LLC" Any insights into this? I plan to buy a second home down the line, rinse and repeat. What the difference between me, John Smith renting out a home I own vs John Smith Properties LLC renting out the home? How does "John Smith Properties LLC" apply for a mortgage? [link] [comments] |
| For the investors doing / going through CONSTRUCTION! Posted: 30 Jun 2020 06:52 PM PDT im currently trying to find out what kind of problems people face when it comes to construction. whats a service you wish existing to make it easier? what are things you wished your architect did to make it easier? whats your risk vs reward? what are some pain points for you when doing construction? [link] [comments] |
| Posted: 30 Jun 2020 06:48 AM PDT I need to talk this out with people who know more than I do. My PM let me know the tenant submitted a notice to vacate 6 months early and based on current market conditions they were raising the rent to $1785. For context, it is currently rented out at 1695 and it initially rented at $1550 in January of 2019. So a steady increase. We currently pocket $350. The increase would get us $400+ of passive income. Before I could even respond, they had an application pending so no issue renting. The real estate market is just as intense. Bought at $225,000 in 2015, we owe 190,000, just put a new roof on in May and my realtor did a CMA yesterday for $340,000. Reasons I'm considering selling: the house is old. We upgraded to a mini split in 2017, but it still has a functioning, but ancient boiler and a buried oil tank. it has a septic tank, the electrical panel needs to be replaced, etc. etc. etc... Do we take the potential $100,000 and reinvest in another property... or do we continue with renting at a decent return?! Original plan was to keep it until my husband retires from the Navy in 6 years. The current market and unforeseen availability has me reevaluating my plan. [link] [comments] |
| Posted: 30 Jun 2020 05:08 PM PDT I feel like I know a little bit about the concept in general, and I mostly looked into rental properties particularly on youtube and I found some good stuff but its very scattered. Is there a website or some kind of rescource that has helped you learn a lot? Sorry this sounds vauge im trying to find a good foundation for learning [link] [comments] |
| Getting ideas for financing my third home. All ideas welcome and appreciated. Posted: 30 Jun 2020 04:43 PM PDT I currently own two homes. One rental property that rents for 1200/month-fully payed off-worth 145,000, excellent condition. My home that I live in-worth 140-150,000. Fully payed off, fair condition. Needs a lot of work here and there but nothing expensive. I could have it in excellent condition and ready to sell in two weeks. I am looking to buy a new house that I want to live in and it will cost around 400,000, maybe a little more or less. I can sell both my houses and have 300,000+ for a down payment and that would make for easy, fast financing but i'm really trying to keep both properties. The rental has been working out great and the house I live in is in the downtown district of Lexington and I don't want to sell. The prices in my area have been on a tear and are not slowing down. No telling what this house will be worth in 5 years. I'm looking for recommendations on how I can go about buying a 400,000 dollar house without selling either of these houses I own. I am not very familiar with equity loans, heloc, etc... I will have 50k of my own money to put down on this new house but that's it. I appreciate the help and ideas [link] [comments] |
| Retro gas range/oven in rental. Replace or leave it? Posted: 30 Jun 2020 03:57 PM PDT My new and first rental has a retro classic gas range in the kitchen. The home is historic & it looks great in the kitchen but I'm concerned it's not easy to use for every renter or maybe some renters are uncomfortable with gas ranges in general. [link] [comments] |
| Looking for Edmonton/Alberta mentor Posted: 30 Jun 2020 11:14 AM PDT Hey guys I have been trying to learn as much I can l so I can start my journey. I have some market specific questions and I don't know anyone personally that is a real estate investor. I'm wondering if someone who has experience in this market could answer some questions and help me out. If not, point me in the direction of finding a mentor. Would be greatly appreciated. Thank you! [link] [comments] |
| Are the calculations for home insurance on sites like Zillow accurate ? Posted: 30 Jun 2020 08:48 AM PDT Never owned a home before so not sure how much to allocate for costs like home insurance. Zillow and other sites have estimates of your monthly costs. Are these calculations generally accurate for real estate investments? With having renters should I expect the cost to be more than regular owner occupant home ? [link] [comments] |
| (NC) how are you finding local investors ? Posted: 30 Jun 2020 02:32 PM PDT How do you all find local investors? A friend of mine found a good deal and wants to hold it as a rental. She has funds for repairs but is looking for a private investor to loan purchase price. My lender doesn't lend on under $75 and she's trying to buy at 45-50. Any ideas on where to point her? I suggested the local real estate investor association but couldn't think of other ideas. [link] [comments] |
| Does anyone have experience in getting a mortgage as a non resident citizen? Posted: 30 Jun 2020 07:39 AM PDT Hi guys, I was wondering if anyone has any experience with getting a mortgage when you don't live in the states? I was born in the States but left a year after my birth and haven't been back since. I do have a SSN and passport. I'm currently looking to buy my first property to rent. [link] [comments] |
| What are people using since Automatic shutdown? Posted: 30 Jun 2020 01:23 PM PDT I had Automatic for mileage tracking but since it shutdown I haven't found anything I like. I liked the one time fee structure of Automatic. All I really need is trip history and marking trips as business or personal. [link] [comments] |
| Posted: 30 Jun 2020 05:03 PM PDT Title says it all. Is it a good idea to withdrawal more than 5k less than 10k from my 401k and invest it in a real estate deal? [link] [comments] |
| Hcol costs only make sense when I put 20% down Posted: 30 Jun 2020 09:19 AM PDT After running some numbers on potential rental incomes in my area, after deducting capex, vacancy assuming 1 month out of the year, and utilities I would barely break even each month and thats only if I put 20% down which I can't afford. Do people who invest in hcol areas put 20% down in order to make the numbers work? EDIT: the numbers make a bit more sense after assuming no PMI but is it realistic to assume my pmi will be very low. Zillow seems to assume the pmi will be a few hundred dollars [link] [comments] |
| What's the Best Way to Save on Commission with an Inactive Real Estate License? Posted: 30 Jun 2020 06:52 AM PDT I will be buying an investment property within the next three months in South Florida. I currently have an inactive Florida real estate license. What is the best way for me to use my license to save some money on the sales commission? I am not interested in becoming a realtor. I'm hoping I can park my license somewhere and receive a favorable split without having to pay any fees. Any comments or suggestions would be appreciated. [link] [comments] |
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