Real Estate Investing: Is anyone concerned about the market declining? |
- Is anyone concerned about the market declining?
- I have $100k to invest in property and moving to South Florida. Where do I begin?
- And this is why you don't live with your tenants.....
- Verbal Rate Lock?? Can we relock to new rate since we haven't signed anything yet?
- Partnership in Buying Real Estate in TX - LLC?
- Any advice on my plan? Please be critical.
- I will help your note investing business for free
- Tax - income tax vs capital gains arbitrage
- Anybody specialize in REOs?
- Financial models
- Reduce dumping on properties
- Retroactive interior appraisal for refi closed in May
- How to have Signage/Advertising on Buildings/Properties?
- Should I refinance my primary residence back to 30 years?
- What do you do when a tenant dies and strangers remain in an apartment?
- Best way to learn about flood insurance for condos near water?
- Sell or rent out second property?
- Are HCOL areas even worth considering?
- Security Deposit Question
- How do renovation mortgages work?
- Non US citizens elderly, buy rental property or put in a brokerage account?
- Luxury Vinyl Plank vs. Engineered Vinyl Plank
- Credit Score
- Does anyone make good money in real estate investing?
| Is anyone concerned about the market declining? Posted: 29 Jul 2020 04:51 PM PDT I was reading on another forum that as stimulus money runs out, there are supposed to be declines in the next 6-12 months, with a bottom in 18 months or so. [link] [comments] |
| I have $100k to invest in property and moving to South Florida. Where do I begin? Posted: 29 Jul 2020 08:16 AM PDT I'm new to this. Own a home in California. It's rented out for the year at $15k a month. Mortgage payments for us are closer to $9k. Eventually I could sell this property and maybe have $1m to re-invest but I'm not that confident yet. We are moving to South Florida and have $100k saved up to buy/invest. Down payment for a mortgage. We could say we will reside there as primary residence. But we already have somewhere else to live. So this is an investment/rental. The dilemma is where in South Florida? SFH? MFH? Apartment building? Again. So new to this and not looking to crush deals but get started with a second property. But I could buy two cheaper homes or one nicer home? Some south Florida homes that are $500k were sold for twice that in 2008. That's insane. Been reading this thread for weeks. My first post here. I know it's a common question, but where do I go from here? Any advice is appreciated. [link] [comments] |
| And this is why you don't live with your tenants..... Posted: 29 Jul 2020 01:33 PM PDT |
| Verbal Rate Lock?? Can we relock to new rate since we haven't signed anything yet? Posted: 29 Jul 2020 04:53 PM PDT We verbally locked in a rate on Monday night. The rates dropped again today but we still haven't received any of our documents to sign or hire an appraisal company. Can we get the lower rate? [link] [comments] |
| Partnership in Buying Real Estate in TX - LLC? Posted: 29 Jul 2020 08:49 PM PDT My father has capital he would like to invest in real estate but is too busy to actively participate in finding deals/negotiating/managing, etc. I've been saving up money and learning as much as possible for the last year in preparation for my own investments. We've thought about a deal where he would put up most of the capital if I did the rest. We'll split everything 50/50 (although we plan on putting all cash flow/eventual sales toward more purchases for the foreseeable future). The first few properties will be SFH and then likely get into MFH. Any advice on how to set this up? Some ideas:
Any advice appreciated! I saw that LLCs are generally not recommended on here when there is a sole owner but unsure if the same sentiment exists for multiple owners? [link] [comments] |
| Any advice on my plan? Please be critical. Posted: 29 Jul 2020 11:17 AM PDT Hello, so I will try to be as detailed as possible to give the best info I can. I am 18, just finished high school and this is my final quarter in community college and I will be getting my 2 year associates. (I did CC during HS for my jr. Sr. Year). I have a credit score of 771, and about $8000 in savings. I do have a car, and no debt whatsoever. The plan is... within the next 2-3 years I would like to have enough saved for a down payment and closing fees for a home. I live near Seattle (which is expensive), so I'd like to buy a home near Central Washington University about 2 hours away from here. Small town, but filled with students. Ideally I'd want to buy a <$350k home with 3 bedrooms [at least] and 2 bathrooms. I'd like to put down 40-50k and have a mortgage under 1500/mo. I plan to live in one of the rooms while renting out the other two or three and make some cash flow off of it. (The goal is to do this by age 21. Again, I'm 18). The point of my plan isn't only to own properties and make money (though that is part of it) , but I want to set a stable foundation for my future when I start a career, build a family, etc. So, again, please share your honest thoughts, I won't take offense to any criticism, I'd like to have a greater understanding of this, and please list any other fees that there may or will be. *I'm aware of HOA fees, electricity, water, maintenance, but am I missing anything? To me, this plan makes perfect sense, but seems too simple. Please ask any questions if you need more specifics. Thank you!! [link] [comments] |
| I will help your note investing business for free Posted: 29 Jul 2020 08:34 PM PDT Hello!! I'm a sophomore at Stanford University studying computer science and I've been reading, watching, and listening to a lot of materials surrounding real estate notes. A lot of it is starting to make sense but I think I need more hands on experience to really understand how things are piecing together. To do so, I would love to assist anyone who is in the note investing space with finding deals, due diligence, closing, etc. I think the help would allow me to get a better understanding of how the process unfolds. If you're open to some more help feel free to comment or pm me!! Looking forward to speaking with you soon :) [link] [comments] |
| Tax - income tax vs capital gains arbitrage Posted: 29 Jul 2020 10:37 PM PDT (apologies in advance if this is actually a dumb question) income tax is around 30% capital gains tax is around 15% there's potential for abitrage here. i was wondering if this is legal and possible: let's say you have steady income coming in from a day-job, and additional income from a rental property. you spend all your disposable income upgrading the rental. seems like this would reduce your income taxes on account of reducing your taxable income (and you'll end up paying some capital gains tax when you sell the upgraded version of the property)... sounds too easy... what am i missing here? (e.g. with numbers: you have a day-job with income = 80k. you live frugally so you save 40k from this. additionally, you make 6k from renting out your rental. you spend 46k upgrading the rental. why wouldn't this make your taxable income 40k?) [link] [comments] |
| Posted: 29 Jul 2020 06:45 PM PDT Anybody making money buying foreclosures and flipping them? [link] [comments] |
| Posted: 29 Jul 2020 05:54 PM PDT Hi all, I am looking to purchase my second buy to let apartment and was keen to apply more rigour to the financials this time around. I have seen some good financial excel models on this board to help someone produce a financial forecast of each potential property. I would really appreciate it if you would share with me some of the best ones you have used. [link] [comments] |
| Posted: 29 Jul 2020 05:23 PM PDT Does anyone have tips for reducing dumping at your multi family buildings? Most of my bigger buildings have outdoor dumpsters which are being used by the whole neighborhood; this causes them to overfill and is costing me thousands. [link] [comments] |
| Retroactive interior appraisal for refi closed in May Posted: 29 Jul 2020 08:46 PM PDT Wondering if anyone else has experienced this. We purchased our property back in mid 2017. Closed on a refi in early May of this year. Mortgage broker said the interior appraisal was waived due to Covid. We haven't done major renovations (just new flooring and a couple new appliances). Mortgage broker calls today to say the mortgage company is retroactively requiring the appraiser do an interior inspection. Tenants are pretty concerned about Covid, which I am sensitive to as a high risk individual. If we put the appraiser off long enough could the mortgage company un-require it again? What's the worst that could happen since we've already closed? [link] [comments] |
| How to have Signage/Advertising on Buildings/Properties? Posted: 29 Jul 2020 04:44 PM PDT In some buildings in the cities, I see advertisements/signage. How do you have this done? Do you go through some third party? What are the legal implications? What are the advantages and disadvantages? Thanks [link] [comments] |
| Should I refinance my primary residence back to 30 years? Posted: 29 Jul 2020 07:22 AM PDT To give you more context, I am wanting to buy a new primary and turn my current primary into a rental. Should I refinance my current primary to a 30 year at a 3.4% rate before moving on? Current loan hast 26 years left Current interest rate is 4.1% Thank you! [link] [comments] |
| What do you do when a tenant dies and strangers remain in an apartment? Posted: 29 Jul 2020 10:49 AM PDT Something like what happened to this guy: Are you truly fucked if you end up with an apartment with people who aren't on the lease after a tenant dies? Shouldn't there be some sort of insurance for the costs involved with the eviction process? [link] [comments] |
| Best way to learn about flood insurance for condos near water? Posted: 29 Jul 2020 05:35 PM PDT Hello, I'm a newcomer investor and looking to buy a waterfront property on a Great Lake or neighboring inland lake or stream. The plan is to rent it out for 5-10 years before having it become a full-time vacation home and most likely retirement home. Whether or not the plan changes between purchase and retirement is to be determined. My biggest concern is Flood Insurance. What's the best way to research Flood Insurance for waterfront condos? And how does that type of insurance work for a condo where you are not responsible for the structure? I want to be covered in case the waterway meets the home. Or any other related item. But I don't want to go down the rabbit hole of researching properties only to find that the insurance I would need wouldn't be available. Any help from like minded owners would be much appreciated. [link] [comments] |
| Sell or rent out second property? Posted: 29 Jul 2020 09:36 AM PDT hi all, I bought 3 years ago with the intention of living in the unit but life got in the way. Would appreciate some tough love on what the right move is here. Bought for $625k (our market is pretty insane). Taxes (3k/year) Strata fees ($350/mo) Mortgage ($2k/mo) My tenants just vacated, and I could currently rent it out long term at $2500/mo, and short term at $3k/mo. Here's the math: Total Monthly Cash Flow (before taxes) (424.32) Total Annual Cash Flow (before taxes) (5,091.82) Cash on Cash Return (ROI) -3.16% I can sell now for ~$690k. So, uh, how silly would it be to hold on to the property? I have no immediate need for the cash, and in an ideal world it would be nice to use the property as a vacation property one day. But really I think I'm struggling for sentimental reasons. [link] [comments] |
| Are HCOL areas even worth considering? Posted: 29 Jul 2020 09:10 AM PDT Almost every discussion about HCOL/VHCOL areas has people saying its next to impossible to find any cashflowing properties due to the high property prices. These areas usually have low vacancy rates and above average appreciation but thats really speculative. Are these people exaggerating the gloomy outlook or are these areas actually not worth investing in? [link] [comments] |
| Posted: 29 Jul 2020 07:46 AM PDT Do most landlords return the full deposit after the lease is up? What constitutes normal wear and tear on flooring, walls, nail holes, etc? Do you typically keep a set amount for a cleaning fee to get the house ready for the next tenant? We have a family that will be moving out after 3 years of living in the property. Their deposit was for $1200 and I'm wondering if I should plan on paying for carpet cleaning, replacement and painting/ patching out of my pocket from the normal wear and tear of them living there. What is the industry standard for this? [link] [comments] |
| How do renovation mortgages work? Posted: 29 Jul 2020 10:06 AM PDT After reading this nerd wallet article I still have questions. Will a 203(k) allow for additions to be added on? Do I have to prove work is being done? How are the "stages" verified to allow the contractors to pull money from escrow? Lastly, what sort of interest rate are we looking at for such a loan? [link] [comments] |
| Non US citizens elderly, buy rental property or put in a brokerage account? Posted: 29 Jul 2020 09:46 AM PDT First question: What software do Chinese homeowners use to research property valuations? US homeowners use Redfin and Zillow. What do people in China use to research how much a condo is worth before buying? 58.com? Second question: Our elderly, non US citizen relatives (age 80) have $200k cash sitting in a US bank and made it clear they wouldn't want to spend this and are hoping to invest and leave behind as inheritance. Buy a rental property with full cash. Where we live (suburbs of DMV area) a 1990s built 1b1b or 2b1b condo isnt too hard to find for $220-250k range up front. Getting a mortgage will be impossible as a non US citizen with no US work visa or SSN. They dont want the property in their name to simplify the inheritance stuff when they pass away. Pros: Higher net cash flow without mortgage ($15k profit a year) A nice place relatives can call home when they visit because they want their own space Cons: Slow property value appreciation Entire capital investment tied in the property Tenant turnover Maintenance Put in a brokerage account. I was thinking maybe dividend funds, or something identical to the composition of the 401k 2020 retirement fund, extremely conservative, would suffice. What would be some good index funds to put them in? Pros: Less management, passive income Higher yields than property value that was bought entirely using cash Cons: Relatives have to stay with us for rest of retirement and not sure if they want that No cash flow What do you guys think? [link] [comments] |
| Luxury Vinyl Plank vs. Engineered Vinyl Plank Posted: 29 Jul 2020 03:04 PM PDT I'm currently looking to put in 1,300 Sq/ft of LVP in a rental unit. My price range was between $2.00-$3.00 Sq/ft. I was seeking a dark brown color with a minimum of 5mm thickness and 12 Mil wear layer. I shopped around and the best quotes I received were from Carpetland and Lumber Liquidators. Carpetland had a really nice dark brown Coretec LVP for $2.42 Sq/ft. This Coretec was 5mm thick with a 20 Mil wear layer. I was sold on this until my final stop at Lumber Liquidators. Lumber Liquidators offered me a Luxecor EVP on sale at $1.49 Sq/ft. The Luxcor was 8mm thick with a 20 MIL wear layer. The only downfall was the color is lighter than I wanted, as it's a lighter brown with a hint of red in it. After that offer I'm torn. Because it's a rental unit, I'm tempted to make the lighter brown EVP work at $1.49 sq/ft. I'm not as familiar with EVP although I've heard it better than LVP. I'm also unfamiliar with the Luxecor brand but I like that it's 8mm thick with a 20 MIL wear layer. This is my first time purchasing flooring and am looking for some advice on these two options. [link] [comments] |
| Posted: 29 Jul 2020 02:54 PM PDT what is the best way to mess up your credit score when trying to invest in real estate? [link] [comments] |
| Does anyone make good money in real estate investing? Posted: 29 Jul 2020 08:13 PM PDT Before I start I would like to say that I'm 17 and don't know much about real estate investing. Buy 1 million dollar house with 20% down payment for 200k. Then rent the house and let rent cover mortgage payments and pocket some. Then after a year or two sell the house for 50k-100k profit. Is this possible? Does anyone really do this cause it seems easy(probably not) If this is possible I would like to do something like this couple years out of college at maybe 22 or 23. I would probably look at some property for 600k and then put down payments of 120,000 and then rent it out and sell for profit. Is this a realistic way to make an extra 50,000-100,000 a year by doing this. Sorry if this post is unrealistic, i don't know much about real estate. [link] [comments] |
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