Real Estate Investing: Why are there so many gurus in this space? |
- Why are there so many gurus in this space?
- Buying property in another state
- Should I buy near my parents or in a LCOL city?
- Renting out current home, buying another.
- ‘What City Is Right For Me?’ Self-Assessment Or Research Assistance?
- Is it generally more profitable to build and construct a home rather than purchase an existing one and renovating it with the purpose of renting it out?
- What's the best place to start?
- The interest rate in my country is 9-12%.
- MSM continues pushing the low interest rates while simultaneously publishing stories about the Pending Real Estate Bubble being Bigger than Ever.
- Should I sell my co-op and buy a 3-4 unit building
- Continue appreciation play in HCOL or move on?
- Mid 20’s Beginning Investor: Multi-Housing vs Ground Leasing
- Seller looking only for cash offers
- How do you buy properties below market value?
- How do I pay the mortgage instalment if large parts of my returns are in price appreciation?
- How many hours on average would two or three triplex’s take out of my time?
- House hacking a Quadplex in affluent neighborhood
- Is this worth flipping ourselves ?
- Radon inspection
- Investment property midwest
- Buying a 3-plex with an FHA loan. All 3 units rented until Nov 2020, so I can't owner occupy until then. Is this deal dead?
- Thoughts/Feedback on this Deal?
- Just finished my pre licensing course for my florida state exam
| Why are there so many gurus in this space? Posted: 20 Jul 2020 02:01 PM PDT I'm just starting to get into this but am noticing that there's a lot of people with social media presence that are marketing doing BRRRR and investing in real estate. Lots of active people on social medial have podcasts, youtube videos, local meetups, offering seiminars, instagram posts providing free education on this subject. They are always talking about financial independence, exiting the rat race, monthly cashflowing properties. I don't mind the free material and some of the podcasts are indeed good and provide value. I'm just wondering if there's an alterior motive behind this. My only thought is that they are trying to sell you something or are trying to raise money by getting capital joint venture partners because they are tapped out in financing further properties themselves. The ones that do weekly podcasts/youtube videos spend a lot of time and effort on this. And some are really good and don't directly try to sell anything. What's the motivation of spending all this time and giving away all this free material if that just creates more investors into your market? [link] [comments] |
| Buying property in another state Posted: 20 Jul 2020 10:50 PM PDT Hi guys! Sorry if this question has been asked before. But let's say I live in California and buy a property out of state. Does that have any affect on taxes? I heard that I will have to pay more taxes for owning property out of state. Any advice will help. Thank you! [link] [comments] |
| Should I buy near my parents or in a LCOL city? Posted: 20 Jul 2020 09:03 AM PDT Hi everyone, I'm 23 years old and live in a High Cost of Living city, and I want to start investing in real estate. My parents live in a MCOL city about 2 hours' flight from me, and have experience in construction. They have offered to be my property managers if I choose to purchase property near them. This makes sense, but the only issue is that property where they live is more expensive than I can/want to afford right now. I've been told that duplexes are preferable over SFHs in terms of ROI, and duplexes near where they live start in the 230-250k range, which would be around $75k for downpayment and closing costs. My target range is 100-150k, and the only things I can find in that range currently are apartments. I'm wondering if it would make more sense to instead invest in real estate in a "random" place that I have no personal connection to, and hire a property manager there. I've heard good things about Cleveland, Cincinnati, Houston, and a few other up-and-coming LCOL and MCOL cities in the US. Would it be more worth it to buy somewhere like Cleveland, where I'm able to just 'get started' more quickly than where my parents live? Also, if I can buy more properties in one of these cities, that also means that I am less impacted by vacancies, right? I.e. 1/2 of 1 duplex being vacant when I own 5 duplexes is less problematic than one of my 2 apartments being empty - right? My basic question is - does the benefit of having my parents be my property managers / contact people 'on the ground' outweigh the easier entry / easier continued investment in lower cost of living places? Thank you in advance for your feedback! [link] [comments] |
| Renting out current home, buying another. Posted: 20 Jul 2020 04:31 PM PDT I plan on renting out my current home within the next few years, and buying a second single family home to live in. Quick questions: How easy is this process? Do I have to refinance my current home into a rental property? Do I have to have an extremely high salary to qualify for both mortgages or would refinancing my current home/finding renters be enough? Thanks! [link] [comments] |
| ‘What City Is Right For Me?’ Self-Assessment Or Research Assistance? Posted: 20 Jul 2020 02:30 PM PDT I'll keep this short and sweet... If you're thinking about moving to a new city and State, is there some kind of aggregator or tool that can show you what other people say about living there, it's personality, what it has to offer, it's history, all-in-one place? Not necessarily like a Wikipedia or WikiTravel article per se, but something along those lines... TL;DR Is there a one stop shop tool if I am taking a shot in the dark on an investment purchase that I intend to move into, where I can learn, see, research, know, etc., everything about the city, state, etc.,? Thanks and happy to have a proper discussion about it! [link] [comments] |
| Posted: 20 Jul 2020 10:42 PM PDT I'm new to this but in the future I'm looking into renting out a multi family home . I was just thinking about the taxes of it all and how construction may be able to be written off and well, I guess I've already asked my question so assuming you have the money for either, do you think the former, latter, or are there too many variables to tell? [link] [comments] |
| What's the best place to start? Posted: 20 Jul 2020 04:22 PM PDT Hey guys, I'm in college and learning that real estate investing seems like the way to go to build the most stable wealth. But where do I start? Again I'm in college so really don't have too much money, but I am working. I understand a couple concepts, like using other people's money to invest in assets. But there are a few questions regarding those... For example, if I get a hard money loan, or other type of loan to use on a house to flip, do I use my own money to make the monthly payments until it (hopefully) sells? How do I get the down payments on houses I would be using as rental properties? Is wholesaling a viable option to just get some cash in my pockets to throw myself into the process? Thank you in advance for any knowledge and insights for a newbie! [link] [comments] |
| The interest rate in my country is 9-12%. Posted: 21 Jul 2020 01:23 AM PDT I've been learning a lot about real estate in the last few weeks. Most books are around the American market. The interest rate is usually around 3.5-4% which seems ridiculously low. I'm from a third world country, and if I apply for a home loan the interest rate is anywhere from 9-12% which is ridiculously high. The rental until don't make enough to cover up the cost of monthly payments. What do you think about this? What would you do if you were in such situation? [link] [comments] |
| Posted: 20 Jul 2020 09:22 PM PDT Interest rates are great, but housing prices are high. Unemployment is high, mortgage deferment ending soon, and evictions are getting closer. But the market is hot and it doesn't appear to be cooling AT ALL for most towns in the US. What's everyone doing to prepare? Are you going to list your investment properties? Unload your vacation rentals? Accept new tenants with possible eviction records? Everyone keeps saying" landlords are getting crushed" Or " wait to buy in October, that's when the market will open up" But I'm not seeing any proof... ?? [link] [comments] |
| Should I sell my co-op and buy a 3-4 unit building Posted: 20 Jul 2020 05:35 PM PDT I live in a very expensive city and 3 years ago I was able to buy a co-op apartment. I am thinking of selling my place and using the money from the sale, plus my other savings to buy a 3-4 unit place just outside my current city. I put some money into the apartment, so I should make a healthy profit. (I know around what I should get for my apartment as the unit across the hall just sold.) Unfortunately, the location that I am looking to buy in does not work for me to live in or I would live in the building. But, it is the only area that I can afford that also has a high average income of its residents. So, I would have to rent a place that works for me as well. Rent has decreased a significant amount in the area I would be renting in due to Covid. I am also counting on a building becoming available around the time I sell my co-op and that building prices will decrease as well and I can get a good deal. (easier said than done) So, does it make sense (depending on numbers) to sell my current apartment to buy an investment property and rent an apartment? [link] [comments] |
| Continue appreciation play in HCOL or move on? Posted: 21 Jul 2020 12:26 AM PDT Live in Bay Area, CA and closed on our 2nd SFH beginning of this year. We rented out our prior house and are breaking even(barely) before principal pay down. Considering the environment and what's in store, do we: A) jack up rent prices hoping the tenants move out with a plan of putting the house on the market to get out (would then look at a cash flowing multi-unit in Central Valley, Stockton, Manteca area) -House valued at $1.15M with ~$250K in equity. B) Know Bay Area real estate has and will continue to be valuable over the years(long play), and 30 years from now, reap the rewards C) continue with analysis paralysis and do nothing different, just waste my nights dreaming. Thanks REI fam. [link] [comments] |
| Mid 20’s Beginning Investor: Multi-Housing vs Ground Leasing Posted: 20 Jul 2020 06:04 PM PDT I'm a beginning investor looking to potentially enter into a ground lease with a credit based tenant. Is starting off with a 20 or so year lease agreement in an up and coming area a good way to start a career as a real estate investor? Other opportunities I've looked at are purchasing multi housing units and outsourcing property management. At the moment I have a full-time job in another industry, but eventually my goal is to turn real estate into a primary career path in some entrepreneurial capacity. I would imagine that ground leasing could potentially be an easier route to go as a beginner, but my risk tolerance is fairly high for my age and I'd like some honest input. Anything helps [link] [comments] |
| Seller looking only for cash offers Posted: 20 Jul 2020 07:51 PM PDT I came across a rental property listed for sale that wanted cash offers only. Why would anybody restrict to cash offers? Why does it matter to the seller whether the owner was financed or paid in cash? The property has been listed for almost 3 weeks now, so it doesn't seem like an urgency thing. [link] [comments] |
| How do you buy properties below market value? Posted: 20 Jul 2020 11:15 PM PDT |
| How do I pay the mortgage instalment if large parts of my returns are in price appreciation? Posted: 20 Jul 2020 11:08 PM PDT |
| How many hours on average would two or three triplex’s take out of my time? Posted: 20 Jul 2020 10:55 PM PDT I want to buy a couple rental properties as a side hustle kind of deal. I have about 4500 a month of DTI to play with and multi family's a city over (45min drive) are 100k and cashflowing. if my wife and I manage them ourselves I'm hoping less than 10-12 hours a month combined If I hire a management company I'm hoping for less than two hours a month. Are these realistic? I'm in NB, Canada. [link] [comments] |
| House hacking a Quadplex in affluent neighborhood Posted: 20 Jul 2020 08:49 AM PDT My market does not support the 1%/2% rule unfortunately without going into an unsafe neighborhood. I am looking from a perspective of lowering my monthly expenses and appreciation. My goals are to house hack for the next 6 years in an "A" neighborhood with average household income of $192k and average home prices in surrounding area of $1M - $5M. Here are the numbers: Price: $925,000 (will make offer at $850k). Unit 1: $800 -> Market Rent $1,500 - Tenant since 2010 Unit 2: $800 -> Market Rent $1,500 - Tenant since 2013 Unit 3: $1,050 -> Market Rent $1,500 Unit 4: $1,050 -> Market Rent $1,500 Each unit are 1,000 sq ft. I am able to renovate them to be 2 bedroom and rent them out for $2,100 a month. I can also bump the back 2 units out to be a 3 bedroom plus attached garage and rent for $2,500 - $3,000. There may also opportunity to make this a 6 plex but will need to look into zoning. Here are my pro-forma numbers with me living in 1 unit (per month) Rent Revenue: $4,500 Monthly Expense: ($1,824) I will be out of pocket $1,824 a month. However, I will get $1,300 a month in principal pay down so effectively I'll be living here for $500 a month. [link] [comments] |
| Is this worth flipping ourselves ? Posted: 20 Jul 2020 09:23 PM PDT My in laws have a second house, they've had a renter there forever. The renter is moving out by end of year. Smaller older house but in decent shape. My father in law doesn't want to deal with a new tenant and just wants to sell and be done with it to pay off his primary residence. Zillow estimates the value at 365k. Father in law doesn't really wanna deal with fixing it up and wants to just sell it to a house flipper for 300k and be done with it. I think if he puts 10-15K or so into some cosmetic upgrades he can probably get around that 365K. No real estate background but I have a ton of free time so I wanted to help them out with the rehab if they decide to do it. Seems worth it to me to spend 15K to go from 300 to 365 right? I know just cuz Zillow estimates that doesn't mean that's what they'll get but i just wanted to see what more experienced people thought. Thanks [link] [comments] |
| Posted: 20 Jul 2020 08:34 PM PDT I have been told that a building I am in contract for needs a Radon inspection. What are my options if it 'fails' the inspection? [link] [comments] |
| Posted: 20 Jul 2020 07:42 PM PDT First post here! I found a 65K home near a college university in the Midwest (Iowa). I've never considered having an investment property, but after seeing this home and the potential I believe it has, I haven't been able to stop thinking about it. I have zero debt, a high income job and would like to rent this out to college students. Any thought starters or things to consider? I'm estimating that I can rent it for approx $700 a month [link] [comments] |
| Posted: 20 Jul 2020 05:47 PM PDT I want to buy a 3-unit home with an FHA loan. I intend to owner-occupy the home, but I can't until one of the current leases expire in November 2020. Is it possible to buy with an FHA loan and not take immediate occupancy? If not, can you think of any creative financing. I don't want to spend the typical 25% down needed for an investment property. [link] [comments] |
| Thoughts/Feedback on this Deal? Posted: 20 Jul 2020 12:55 PM PDT I'm just getting into REI and wanted to get everyone's thoughts on this deal structure. The person I'm working with finds properties and potential buyers and works with another investor (such as myself) to close on a property. The property is bought with a traditional loan with a bank with the buyer and the investor contributing to the down payment of the property. The property is then rented out by the investor to the buyer for 2-3 years and then if the buyer is willing, they can buy the property from the investor outright with a small mark-up. For reference, this deal is based in Southern Illinois. Below is what the partner sent me with some small edits by me to make it easier to read/understand. Purchase Price: $130k Gross Down Payment: $26k Net Cash Needed: $21.1k PITI Estimate: $780 Rent Estimate: $1200 Tenant buyer (TB) puts 5.4%, or $7,000 down, partner would keep 30%, or $2,100, and I would get the rest ($4,900). While from the bank's perspective I'm putting 20%, or $26,000 down, I'm only bringing $21,100 to the table. That $7,000 would need to be credited back to the buyer when they buy the house in 2 or 3 years, but we're marking up the price of the house over what I buy it for, by 9.9% ($12,870). If they don't buy it, and move out, I'll keep the $4,900 up front option fee I received. In addition, I'll be making $420/mo cash flow, 23.91% cash on cash returns, and a 2 year ROI of 104%. And the TB will be responsible for the first $500/mo in repairs and maintenance. Thoughts on this type of deal structure? Anything I should look out for or be leery of? If there's additional context that needs to be included from the above, please let me know as well and I can provide them as best as I can. I'd appreciate anyone's input. [link] [comments] |
| Just finished my pre licensing course for my florida state exam Posted: 20 Jul 2020 03:58 PM PDT I really want to get into real estate investing but I'm taking it one step at a time so I can acquire as much information/knowledge as I can. Any good podcast out there to start me off? Anything would help! [link] [comments] |
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