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    Real Estate Investing: Does anyone have any experience buying rural acreage as an investment?

    August 10, 2020

    Real Estate Investing: Does anyone have any experience buying rural acreage as an investment?

    Does anyone have any experience buying rural acreage as an investment?

    Posted: 09 Aug 2020 02:15 PM PDT

    I'm looking at buying 20-40 acres in rural Ontario, Canada. I was wondering if it's good to just keep in your portfolio as an asset or if it is lucrative to add some lodging and offer it as a hunting camp?

    This idea is new but I want to add some land to my portfolio and the price seems to be right. Or would this just be me buying something that would lose me money in the long run?

    What are your experiences buying rural acreage?

    submitted by /u/rbp1995
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    Where should I move and invest into next? Sharing my thoughts for the Southeast US real estate market.

    Posted: 09 Aug 2020 07:35 PM PDT

    I am fortunate to have a stable and decent paying remote job that allows me to live anywhere in the lower 48 states (and near an airport for business travel). I am early 30s, single, very mobile, and wanting to invest intelligently. Currently own my first property and researching my next target.

    My overall real estate plan is to buy another house or duplex under ~$300k range every 2-4yrs to live in, add curb appeal improvements as needed, then eventually rent out or sell. Aiming for at least 2 beds and 2 full baths to potentially rent the room out to lower costs. Rinse and repeat then have option to sell any remaining rental properties once they've really appreciated over time. I also like the idea of moving to different places every few years to start again and get to know the locality, assuming I don't settle down permanently in one region and just grow my real estate portfolio locally. Planning on using a management firm to look after my rentals.

    Looking for small-to-mid sized urban areas with strong potential for long term growth and appreciation. Especially for cities that can become the next major Tier 3/4 economic player like what Austin, Denver, and Tampa have become. With my price range, I am mainly focusing on the Southeast region (NC, SC, GA, TN, FL) with LCOL towns and cities primed for attracting retirees, employment, young professionals and families; but also open to all regions in the US to research into. For those who have a similar strategy, hoping we can all share "hot tips" for areas about to reach a flashpoint in the next 5-10yrs!

    I have enough for 20% down for my price range, and emergency savings if the economy really goes for the worst. Starting to research and hunt for great deals especially if rates stay or get lower, and prices have fallen some due to the Covid pandemic. Here are my Top 5 areas I'm considering, any thoughts on the below for my next move?

    • Raleigh-Durham-Chapel Hill, NC: This area is already a spoiled secret but can still find opportunities in the growing rural areas 30-45min outside of the Research Triangle Park. Soon will become a leading Tier 3 urban area in my opinion. This is where I'm based now with my first investment property near downtown Durham. Just reached 2yr ownership and have already built a nice estimate ROI. Have an interested party lined up to start renting already. May stay in the RDU area if I find another great deal to buy next.

    • Savannah GA - Hilton Head Island - Beaufort SC: Once seen as just a sleepy retirement or tourist/golfing destination, I think this region has started growing exponentially with recent YoY leaps in population and housing. My older brother's family relocated to HHI and lives in and rents out two properties, and currently building his third home in Beaufort to move into. Most of HHI is already developed and quite expensive but off the island, there's been more developments and planned communities starting in the $200k range. My brother is starting to see more young professionals moving in as well the last few years, not just retirees. Very family friendly area and why I'm strongly looking into nearby downtown Savannah, GA. Able to find beautiful remodeled historic homes and fixer-uppers well under $300k. These types of historic and new colonial styled homes are often $1M+ in sister historic port city Charleston, SC. With the major shipping port, growing aerospace/defense industry, local SCAD and State universities, and "southern charm" seaside appeal, I think downtown Savannah is starting to catch up with Charleston in accelerated value and growth.

    • Winston-Salem, Greensboro, High Point, NC: Known as the "triad" (sister to RDU "triangle"), this urban region seems to mirror what Raleigh Durham was 20yrs ago. Winston Salem, similar to Durham, has beautiful old tobacco factory buildings repurposed into mixed use, but currently a high crime rate and void of a younger concentration (also like where Durham was 20yrs ago). Local education is strong with several good universities (Wake Forest, High Point, UNC-G, AT). Since the triad had a brain-drain with young professionals moving to the bigger cities as Big Tobacco became less of the anchoring industry, there are now active municipal and grant-supported efforts to attract research, medicine, and IT partnered by the universities. Banking also has regional presence due to nearby Charlotte. I think the biggest "hot tip" to the triad is its location between Raleigh and Charlotte, equally 1-1.5hr away on the I-40/85 corridor. Feels like the triad is the last big urban area in North Carolina primed to explode just like RDU, Charlotte, and Asheville. There are cheap under $100k historic homes in downtown Winston Salem and Greensboro getting snatched up for gentrification and remodeling.

    • Jacksonville FL: Home value and population have dramatically increased YoY like other big southern cities, but jobs/construction have cooled off last 2 years. This temporary stunt lead to oversupply of affordable newly built homes under $300k. My thinking for investment is more long term, as JAX is already a Tier 4 city in terms of population, but seems to be the last large urban environment in Florida that has not yet matured into a big economic and luxury market player that the rest of Southern Florida has become. Don't get me wrong....there's still mansions worth several millions in JAX...but the city and its beaches haven't garnered the same high status and wealth as Miami-Boca Raton, West Palm Beach, and now Tampa/Sarasota. I can see the long term potential especially as a large Atlantic seaside city. I also foresee positive job growth returning to JAX in the next business cycle, sandwiched between Atlanta and Miami.

    • Chattanooga TN: Has attracted STEM and is now the "Gig City" of the world with some of the fastest internet connections. I still don't hear too much about "Nooga" yet...but have the feeling it will will grow quickly and attracting national trending similar to Nashville as of late. So most real estate investors haven't largely caught on just yet, but I've seen trending in buying and housing prices spike this year. Equidistant to Nashville, Knoxville, and Atlanta, this town seems ready for a flashpoint. Situated at the foothills of the Appalachian mountains, this town is highly regarded to be family oriented and very safe. I can see it attracting the same active young professional crowd who enjoy the outdoors that Denver, Salt Lake City, and Colorado Springs get. Great prospects for real estate buying, # 2 under Nashville and above Raleigh Durham on PwC's Real Estate 2020 report. (https://www.pwc.com/us/en/asset-management/real-estate/assets/pwc-emerging-trends-in-real-estate-2020.pdf)

    Smaller areas that I'm also considering:

    • Fort Mill SC: Just south of banking capital Charlotte NC. Young professionals and families are relocating south of the border for the cheaper housing, lower taxes, gasoline, etc compared to NC.

    • Greenville SC The fastest growing market in SC and halfway point between major economic players Charlotte and Atlanta. Very family oriented and has attracted a trendy progressive vibe similar to Asheville and Austin.

    • Columbia SC: For potential long term value, as the state capital and home to the flagship USC university. Higher crime rate and low industry but may benefit from SC's overall growth trajectory. Currently not a valued proposition for employment...but maybe in another 10 years? May never become an "Austin" but maybe potential as the next Nashville or Birmingham?

    • Cape Coral-Fort Meyers-Naples FL Gulf-seaside area that caught national attention as of late. One of the highest increased rates in the state. Potential to become the next big luxury housing market player in south FL. Thinking it would be a great place to buy and rent to retirees.

    Are there any cities or towns you would suggest that could become hot markets in the coming years?

    submitted by /u/rubey419
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    Is $300 profit on rent too little?

    Posted: 09 Aug 2020 05:17 AM PDT

    My mortgage is currently $2000 a month and similar properties are renting for around $2400 a month. With HOA, I stand to net around $300 a month on my property.

    I know profits are going to vary for every property but as a first time "land lord", I'm trying to understand if this is sufficient. I know a management company would further eat away at those profits but it might be required if I move out of state.

    Would you guys go in on a property if it only netted you $300 a month? Is the pain with the little margins ?

    submitted by /u/DreDay28
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    Investment Duplex Deal

    Posted: 09 Aug 2020 03:14 PM PDT

    I found a duplex for sale and want some opinions on it. It's an older home that was used as a commercial property right off a 4-lane highway. It's zoned residential now. One side is one bedroom one bath and other side is two-bedroom, 1 bath. I offered 90K, which they will accept. It's pretty much move in ready. I estimate one side will rent for 575 - 600. The 1-bedroom can rent for 500. After putting 25% down, i think the loan with escrow will be about $715. Rent would produce $1100. I would self-manage. I already another rental home in the area.

    Based on the 1% rule of the purchase price, i think i'm good, I suppose i'd cash flow ~ $400 per month. I have one tenant lined up already. I am a little worried about renting in that price range. I've never rented that low. I'm told there is more risk and problems in the lower rent space, such as they disappear in the middle of the night.

    Anyways, just looking for some opinions on the deal. I have enough income where I could pay the mortgage for a year if needed.

    submitted by /u/legitdad9x
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    [ON] $550-600k Condo downtown Toronto vs SemiDetatched/Townhouse in Kitchener/Waterloo/Cambridge?

    Posted: 09 Aug 2020 04:06 PM PDT

    First time home buyer.

    Budget $550-$660k

    Purpose: investment property with long term (>10 year) horizon

    Live at 50min distance to both downtown Toronto and KitchenerWaterlooCambridge area.

    Looking for suggestions/things to watch out for in terms of tenant quality, capital gain appreciation, condo fee vs maintenance.

    Any specific condo disadvantages vs semi detached/townhouse?

    submitted by /u/banda113
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    Rent or Sell?

    Posted: 09 Aug 2020 02:37 PM PDT

    About 6 years ago I bought a home for 240k. It's worth about 380k now( I am living in it)

    My mortgage is $968 a month but with taxes insurance and HOA I'm probably a bit shy of $1,600.

    Zillow estimates I can rent my house for $2k/mo.

    I am looking to buy another house with my sibling that we would own 50/50.

    Should I rent out the house I had bought? The area has been having a lot of development over the last few years.

    Or should I sell and pocket the gain tax free and recoup the 20% I had put down.

    What are everyone's thoughts?

    submitted by /u/Makhann007
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    Looking for Orlando investment advice

    Posted: 09 Aug 2020 02:41 PM PDT

    I'm heading to Orlando to look at investment properties! It will be my first time in the city and I'm really excited! If I do buy something this will be the first time I buy purely as an investment.

    I would love general advice about what to look out for about the area, also happy to give details if anyone is curious about what I'm looking at.

    My top choice would be a 3/2 SF home around 1500sf in the Oviedo or Timber Creek area, though those have dried up a lot recently.

    Second choice would probably be a condo or SF home right around the UCF campus.

    Third choice would probably be a duplex in the Oviedo/Timber Creek area.

    Thanks in advance! Post any questions in the comments, I'm happy to share!

    submitted by /u/powerpunkpenguin
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    Question on wholeselling Real estate

    Posted: 10 Aug 2020 12:35 AM PDT

    Hello everyone,

    I am reaching out to you because of my newly acquired interest in wholesale real estate.... I'm new to the field of real estate / RE investing and I am trying to gather as much information on the subject as I can.

    So with that being said.....

    What is your input on this topic ?

    I get the general idea however I would like to hear about people's experiences who actively do this.

    What is it like?

    Would I need a mentor to walk me through the process?

    Is it integrous ?

    How do you find investors wanting to take over the deal?

    Where did you learn wholeselling?

    Any feedback would be great!

    Thank you all!

    submitted by /u/Mrwrighttt
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    Sell or refi my SFR?

    Posted: 09 Aug 2020 08:38 PM PDT

    I've got a SFR that over a 7 year period has produced no income since I purchased in 2013. Bought for $260k with 20% down at 4.7% mortgage rate. I've put in an additional $40k in capex over the 7 years (20K roof last year). So total cash invested: $92K. It's appreciated to $460K now even in this market. Should I sell and try to 1031 it for a different home or re-fi at a lower 3.3% rate so I start cash flowing knowing that my refi will cost me $15k.

    submitted by /u/mklimt
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    If you’re denied a loan while working with investors, then what?

    Posted: 09 Aug 2020 03:32 PM PDT

    If you were denied a loan while working with investors, and it came as a surprise, would you want to continue working with the investors?

    Or would you dissolve implied partnership and move on?

    submitted by /u/WifeyWoo
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    Cash Flow Question

    Posted: 09 Aug 2020 04:28 PM PDT

    Noob here, my knowledge background is in financial markets but I'm wanting to learn more about RE. I see a lot of hate on this sub for properties that are negative cash flow from day one and am just looking to understand the reasoning. You're still gaining equity in the property making it a positive return in terms of your net worth despite being cash flow negative. Even including repairs and maintenance, it seems like you'd be unlikely for your NW to fall between the gains from land appreciation, tax benefits, and equity buildup. Is it just a matter of "more lucrative deals exist so go find those instead", or is there some key thing I'm not factoring in?

    submitted by /u/amikol
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    Buying NYC Apartment

    Posted: 09 Aug 2020 11:36 PM PDT

    Hi all,

    I've been living in the greater NYC area for a little over a year now and can see myself living here for the next 5-10 years. Given the current slowdown in the market and low interest rates, what are your thoughts about purchasing an apartment in NYC?
    How do you view the future prospects of the NYC RE market in terms of desirability and potential for appreciation?
    Renting vs buying: There are some good bargains for rentals, new developments with concessions, nice views and good amenities, however, I feel like I'm throwing away money paying rent expenses

    Some current concerns I have on purchasing are:
    - High costs per sq ft, especially for Condos, which could at least be rented out
    - For co-ops, costs per sq ft are lower, but the building is generally very old and not modern, and often have very high annual ownership costs / maintenance fees, which are often as high as 2%-3% of the total property value, and unlikely to rent it out minus a few exceptions
    - Wouldn't want to buy a place that has little or no potential to increase in value. Everything is already pretty expensive and I personally don't see much value in 80%+ of the homes here

    Anyways, what are your thoughts?

    submitted by /u/towmitdals
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    window replacements as capital improvement in unit of multi-family apartment that I live in?

    Posted: 09 Aug 2020 08:16 PM PDT

    I'm aware that the expenses for some capital improvements like window replacements can be depreciated over 27.5 years. I recently purchased and moved into a duplex where one unit was already rented out. That unit has decent windows while the ones in my unit were noticeably worse (2 had cracks in the panes, 1 extremely difficult to open/close).

    What I'm curious about is, if I were to replace all the windows in my unit, do I lose out on the ability to depreciate the costs over 27.5 years, or would that depreciation be allowed to happen once I move elsewhere and start renting out this unit?

    submitted by /u/WaltPatrickKristaps
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    [CAN] Looking to chat with people who have actually completed 2-3 JVs. Looking to start doing this in the future.

    Posted: 09 Aug 2020 07:37 PM PDT

    The title says it all. Canadian with 2-3 properties under my belt but I would like to start bringing in partners and I wouldn't mind chatting with people who are currently doing it.

    Also any books / resources you suggest would be awesome.

    submitted by /u/GuelphGryph88
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    Real estate investing books!

    Posted: 09 Aug 2020 07:32 PM PDT

    Hello All

    Any advice on some good reads for a first time investor wanting to go into the real estate?

    submitted by /u/Uggz492
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    Need your expert advice!

    Posted: 09 Aug 2020 03:25 PM PDT

    Hi all, thanks for taking the time to read my post. I am a 23 year old that lives in Nampa, ID. I purchased a home using the first time home buyer loan in 2017. If I remember right, after 3 years you are able to use that loan type again? I don't know on that so if someone could clarify for me that would be great. Anyways, I am looking to buy another property and renting this home out. I don't have 20% down to purchase an investment property with a conventional loan and it will probably be a significant amount of time before I can save up that much. Especially with the median home being in the 300's. What do you guys think my options are? I gross about 66k a year from my job and have about 12k a year in unclaimed income from "househacking". Currently I'm renting the bonus and master suite in my home for around $1300 a month total and that almost covers my mortgage. I think if I were to rent out the home completely I would be able to rent it for $1400 to $1500 a month but then wouldn't have anywhere to live, and that's why I'm here. I would like to rent out the home completely but need to get another property first that I could move into, flip and live in or rent. How would you guys do it? What options do I have in this?

    submitted by /u/Trader_Gambler
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    Rehabbing apartment bathroom

    Posted: 09 Aug 2020 06:06 PM PDT

    Where can I get a nice looking and inexpensive vanity? What tips do you have to redo a bathroom to look nice but be cost effective for a tenant.

    I am thinking grey tiles and a new vanity. Thanks

    submitted by /u/planlife
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    Buying house for disabled dependent and turning it into section 8?

    Posted: 09 Aug 2020 05:33 PM PDT

    Hey guys,

    My mom's getting to the point of being pretty disabled (genetic disorder) and I was wondering if any of you have ever dealt with this.

    She gets disability from the government and I was wondering about making her my dependent, buying her a house (or a house in her name) and marketing it at section 8 so the government subsidizes her rent / pays down my mortgage? I would pay the remaining amount.

    Has anyone ever done this? Can it even be done? Any tips would be so amazing, I'm at kind of a loss.

    Thank you!

    submitted by /u/meganmeganmegan_
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    How long until the last of PPP is reflected in rent rolls?

    Posted: 09 Aug 2020 05:19 PM PDT

    I was waiting to pick up a first property until the PPP ran out this month. Now I'm hearing it'll be extended in a lesser form. When one requests rent rolls, how recent are those records generally? Will they include the month prior? Does the previous owner have to disclose any non-payments in the financials?

    Is anyone else doing this? Waiting to see what the fallout of this program ending will be? Is anyone just looking for unoccupied properties to avoid the eviction issue entirely?

    submitted by /u/Huskidoc1
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    Investment strategy to start off right

    Posted: 09 Aug 2020 05:08 AM PDT

    Just want to get some thoughts and opinions on what I plan to do as I have no form of mentor. I am 19 and have been building credit since my 18th birthday, next year I will be in a position to go after my first property in the south eastern region of Pennsylvania.

    I want to buy at least 5 homes by taking out a mortgage as an owner-occupant and converting it to a rental after the required term of a year.

    A few questions that I can't find straightforward answers for: Are there any obvious flaws with this plan I am missing?

    How detrimental is negative cashflow for this strategy?

    submitted by /u/OgDomIII
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    Seeking book recommendations

    Posted: 09 Aug 2020 04:52 PM PDT

    I'm looking for a book that serves as real estate investing 101. I recently read "Rich Dad, Poor Dad" and would ideally like to read something comparable in terms of simplicity.

    submitted by /u/feralkiter
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    How could a teenager get started with investing in real estate?

    Posted: 09 Aug 2020 09:23 AM PDT

    Hi everyone! I'm 15 years old and am interested in learning the ins-and-outs of real estate investing. While I acknowledge the fact that I am still very young, I am 100% serious about this and think it could be good to start thinking long-term.

    When I brought up the idea of real estate investing, my parents seemed to be extremely skeptical. They say that inveesting in real estate is impossible for me, due to the fact that mortgage is completely out of the question and that I am just a kid in the first place.

    They do have a point, but I still don't think this should stop me from figuring out what works! To clarify things, I absolutely do not expect to be investing in a 'grand property' and be racking in $10K every month or anything. Starting small and humble is key when treading new waters.

    If it's worth anything, I so far have managed to earn roughly $5K from online freelancing and errands for neighbors. I know this amount is probably not even able to have an impact, but in my mind, at least it's something.

    Is it possible to make something from this? Is there anything I can do to prepare for or started in real estate investing? I'd love any input on this!

    submitted by /u/confusedgirl1219
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    Shout out your multifamily income ~

    Posted: 09 Aug 2020 04:55 AM PDT

    I couldn't sleep last night so naturally I fell down the Zillow rabbit hole and have been looking up investment properties since 4 am.

    Instead of my usual search for a vacation single family to AirBnb, I branched out and was looking at multi-unit rentals. Many of them seem too good to be true. Are there truly multi units for $225,000 that are brining in 30-40k+ a year?Ex.

    https://www.zillow.com/homedetails/33-N-Main-St-Norwich-CT-06360/2078724198_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

    If that's the case, why wouldn't anyone with money buy them up? Whats the catch Reddit?

    I'd love to learn from you awesome people

    submitted by /u/rsilv18
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    Interest rate rise risk (Election)

    Posted: 09 Aug 2020 12:20 PM PDT

    Me and my wife just put a deposit for a new construction build. The builder will deliver it in the next 6 months (January). The earliest I can lock in the rate is 90 days out (October). My only concern is if the rates rise to say 4%+ come that time. We would still be able to afford the monthly payments but it would be more than what we want to spend.

    Our finance gave us a rate of 3.25% It's a Jumbo loan. We are putting 20% and both me and wife have excellent great credit.

    Should I be all that worried? Interest rates are at all-time lows. The election is coming up.

    submitted by /u/AEN3MA
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