Real Estate Investing: Forming an LLC? |
- Forming an LLC?
- Which US states/cities do you think have the best potential for real estate investing in the coming decades?
- I need to move to a certain city for a year - worth buying and then renting out afterwards?
- Where should emergency cash reserves be stored for a real estate business?
- Fed's new inflation stance? Impact for long term investors?
- Is it worth it for me to refinance?
- VA IRRRL
- Old House 6inches from back property line
- Buying half a summer house?
- Want to get into real estate!
- Passing Away of Baby Boomer Generation Effect on Real Estate Market
- Housing bubble (up state ny-usa)
- what should i do in order to meet house hacking goals with 145k?
- Are studios and 1bedrooms good equity investments in the Bay Area?
- Off Market Duplex Deal - Interesting situation...
- What is normal in your area to pay for your agents commission?
- Does propstream give accurate comps?
- Risk of Renting Out Primary Residence
- Communication tower real estate?
- DTI issues with cash-out refi for duplex as primary residence to buy 2nd property; options?
| Posted: 29 Aug 2020 08:45 PM PDT I'm investing in real estate in Pennsylvania and currently live in New York. I was reading that a lot of people form their LLCs in Wyoming, Nevada or Delaware. I'm trying to understand what the benefit would be to do this versus just filing in New York. Also should I form the LLC before I buy a property? Does anyone have experience with this? [link] [comments] |
| Posted: 29 Aug 2020 08:07 PM PDT I'm currently studying population growth trends. Going just by that, Texas, Florida, and most western states seem like good bets for real estate. Of course, there are other factors such as job growth, wage growth, and laws/regulations which play a significant role in real estate return potential. I'm currently in Chicago, and I'm planning to exit my city due to the poor real estate environment (stagnant population growth, increasing property taxes, laws unfavorable towards landlords, etc). If you had the ability to move anywhere in the US to invest in real estate (specifically renting out single family homes, condos, apartments), where would you go? [link] [comments] |
| I need to move to a certain city for a year - worth buying and then renting out afterwards? Posted: 29 Aug 2020 07:56 PM PDT Background: I am a homeowner plus I have a couple of rental properties in my current city. Due to a family issue, I need to move to to a fairly popular city on the east coast for a year. 3/2 1500-1700sqft properties rent out for high 2k-4k range, depending on proximity to the beach and whether its furnished. Therefore, it'd realistically cost me $40k to rent for my family for the year. On the other hand, I can buy a 400-500k property and live it in for a year, then subsequently rent it out. The town recently passed a law that only allows 1% of all homes be allowed a license to operate as a short-term rental (airbnb). However, STR is defined as anything 30 days or less, so as long as I require at least 1 month, I don't need a STR license. I'm guessing that I can easily get 3,500/month in rent on a 500k property., and more of I manage to get a STR license for 2021. Cons:
Pros
I'd love to hear your thoughts - good and bad. [link] [comments] |
| Where should emergency cash reserves be stored for a real estate business? Posted: 29 Aug 2020 06:49 PM PDT I am involved in a family real estate business. We have cash on hand for operating expenses. However, we like to have emergency (like..."break glass in case of emergency") money. We will not normally ever use this for operating expenses. In March however, we did access $10k from a maturing CD to bridge us, but things fortunately turned out a-ok. Traditionally, we keep our cash reserves in CD's. However, as the rates on CD's are now so low, we are (as the CD's are maturing) moving our cash reserves to: SCHO - SCHWAB STRATEGIC TR SHORT-TERM US TREASURY AGG - iShares Core U.S. Aggregate Bond ETF BIV - Vanguard Intermediate-Term Bond ETF Just looking for thoughts, input, analysis, other options, etc. Thanks in advance for your help. [link] [comments] |
| Fed's new inflation stance? Impact for long term investors? Posted: 29 Aug 2020 05:01 AM PDT So the fed wants to put more emphasis on full employment and less emphasis on keeping inflation low. Are the values of our properties about to go up? Thoughts? Also, my local market is super weird right now. Tight inventories and higher than normal prices. Edit: Sources for claim re new inflation stance: https://www.washingtonpost.com/business/2020/08/27/powell-jackson-hole-inflation/ [link] [comments] |
| Is it worth it for me to refinance? Posted: 29 Aug 2020 07:15 PM PDT Long story short... I'm trying to refinance my rental property and take advantage of these low rates. Currently I have a 3.75 APR, I've lock into a 2.25 APR. The refi would be a streamline VA IRRL. Total cost to close on this loan is $9k aside from $5k in Other costs. $14,245 in total. I'm keeping my rental for the long haul, also currently making an extra $500 payment a month. When I refinance, I'm saving $200 a month and plan on making an extra $700 payment a month. Please let me know your thoughts. Thank you! [link] [comments] |
| Posted: 29 Aug 2020 06:21 PM PDT I'm debating on pursuing a VA IRRRL to refinance a property. Interest rates are much lower now than when I purchased @ 3.625%. After checking the historical trends from the 1970's, it seems rates essentially just drop over time. Is it crazy to consider a long-term ARM? I've never considered anything aside from a fixed-rate mortgage but I'm trying to see if I'm missing something obvious with pursuing an ARM. [link] [comments] |
| Old House 6inches from back property line Posted: 30 Aug 2020 01:43 AM PDT Found a house, initially built in the 1920's with large additions added in the early 80's. The back additions sit just a few inches from the back property line, obviously in breach of any current property setback requirements for the local municipality (5ft). I plan on flipping the house but was concerned if I would be held responsible for addressing the setback issue (ie. tearing down part (5ft) of the addition to comply with setback requirements) if I started doing major interior renovations. Is this something that is a roll of the dice with the city? And would just be better to pass on? I was unable to find any permits for the additions. And the city mentioned that if work was done in the early 80's and prior, it's likely they wouldn't have any paperwork for it. Although I do see the additions referenced on the city appraisal report for the past few years. [link] [comments] |
| Posted: 30 Aug 2020 12:46 AM PDT I own 50 % of a vacation house plus an adjacent empty lot together with my brother. He wants to sell. I want to hold on. Thinking of buying his half (80k$). I want to selfbuild another house on the other lot in few years and rent both houses out. Giving me the option to sell or hold on in 10 years time. The area is one and a half hours drive from my home and a major city. Will the hassle be worth it? Or would I be better off kissing the house goodbye and putting the money in stocks? I got a feeling my fondness for the house (and the dream of building) might be clouding my judgement. Any advice would be appreciated! [link] [comments] |
| Posted: 29 Aug 2020 09:36 PM PDT Im 22, i want to get into owning homes and renting them out! But i have no idea what to do or where to start. -how much can one make doing this? -whatre some good sources of information that i can soak up, and eventually become a well versed veteran in the business -common mistakes to avoid -first three steps i should take Thanks for any help or tips, i have no clue what im doing [link] [comments] |
| Passing Away of Baby Boomer Generation Effect on Real Estate Market Posted: 29 Aug 2020 02:00 PM PDT I've been doing some research on changing demographics. Over the next two decades or so (or specifically 2023 - 2045), the Baby Boomer generation will pass away. This generation currently owns about 40% of real estate. In retirement hubs like Florida and Arizona, where this generation is currently over-represented as a percent of the population, there should be an excess supply of housing. Some of these properties will be inherited by their descendants and immediately put on the market (especially in these retirement hub areas which are far from their relatives), while others will be foreclosed. The important thing to remember is that there will be an excess supply of real estate and insufficient demand to maintain current pricing levels. That means it will be a great time to buy in these areas by the end of this decade. Over time, people will eventually notice the fallen costs of real estate in these areas which will attract out-of-state buyers (especially those looking for vacation homes) and movers who wish to become homeowners and are in search of undervalued homes. This should eventually bring the value of real estate back up. I'm by no means a financial or real estate expert, so I'd like the opinions of others. What do you think of my assessment? [link] [comments] |
| Housing bubble (up state ny-usa) Posted: 29 Aug 2020 12:00 PM PDT First time poster, long time follower. I am in the process of closing on 2 duplexes, they will be the first 2 investment loans in my portfolio, but the 3rd and 4th property. The other 2 being an additional duplex and my families residence. The appraisal just came back in on the 2 properties and both were double percentage points higher than the purchase price (15 & 12%). The reason for the post is that 3 months ago i wanted to refi my first duplex and roll into my newly created LLC, the issue at the time was the appraisal only came back at 69k and I owed 42k (wasn't worth it yet). Fast forward to August and another duplex in town(worse condition too) right down the road appraised almost 20k higher! I reached back out to the same credit union, who doesn't have the note on the original duplex, to see if they wanted to refi that approve another investment loan. No question asked and I had a pre approval letter in a week. I guess it's just crazy to me because housing hasn't appreciated in this area my whole life (30 years), covid hits and the market goes, anyone else experiencing double digits growth in smaller markets? [link] [comments] |
| what should i do in order to meet house hacking goals with 145k? Posted: 29 Aug 2020 10:01 AM PDT im going to be 28 next month, i have 75k to 145k in cash ready to invest in real estate. my income is 56k salary and 40k side business i have no debt and 793 credit score. live with family and work from home. trying to house hack to live rent free and cash flow after moving out the property in 1 year. ideally looking for a 3 family with cocr 8 to 10% what should i do to meet this goal? any advice or tips? [link] [comments] |
| Are studios and 1bedrooms good equity investments in the Bay Area? Posted: 29 Aug 2020 02:01 PM PDT I'm thinking about investing in some property in the Bay Area (specifically, the peninsula from Daly City to Redwood City) and I was thinking about just putting some money in a 1 bedroom or a studio and see if I can build equity. Are studios and 1 bedrooms good investments? Or am I just making a mistake? [link] [comments] |
| Off Market Duplex Deal - Interesting situation... Posted: 29 Aug 2020 01:22 PM PDT I got a message back about an off market duplex. It's a vacant overgrown poorly maintained home but in a really great neighborhood. This would be a buy and hold property that my wife and I would house hack/occupy 1 unit while renting out the other. From the looks of it, there will be quite a bit of rehab needed but I think it can be a good opportunity — as a 1st time buyer/investor, I want to make sure I'm following the right steps moving forward.
-What kind of condition is it in? Is there anything else I should being asking them at this point? Next step would be to schedule a time to walkthrough the property to document and take pictures. After that I'll figure out comps and repair estimates.
After comps and accurate estimates I'll be putting in an offer. Is that usually a verbal offer or something more formal?
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| What is normal in your area to pay for your agents commission? Posted: 29 Aug 2020 10:37 AM PDT Stuck with paying .5 of my agents commission with the seller paying the other 2.5. But I feel like I could of pushed for the seller to pay all 3 percent. Was wondering what it's like in your guys areas. [link] [comments] |
| Does propstream give accurate comps? Posted: 29 Aug 2020 04:22 PM PDT This software is very popular right now but I've heard some say it's comps are old and many times inaccurate. Is this true comparing to your experience? [link] [comments] |
| Risk of Renting Out Primary Residence Posted: 29 Aug 2020 08:02 AM PDT I'm a first time homebuyer. I currently live with my girlfriend in a townhome that she owns. I'm eyeing up a townhome in the area that I think would make a great investment property. I know you get better rates/terms on your primary residence than an investment property. My question is: is it considered fraud to purchase this home as my "primary residence" even though I don't plan on living there immediately? I have never bought a home before and therefore it would be the only place listed as my primary residence. What is the risk in doing this? Does the bank really care as long as I pay on time? Will they attempt to verify upfront or periodically? What is y'all's experience with this? [link] [comments] |
| Communication tower real estate? Posted: 29 Aug 2020 09:15 AM PDT So I was looking into American Tower, a REIT that specializes in communications real estate and I'd really like to get into that. Does anyone have any good resources you could recommend that deals with this type of real estate? [link] [comments] |
| DTI issues with cash-out refi for duplex as primary residence to buy 2nd property; options? Posted: 29 Aug 2020 07:04 AM PDT r/realestateinvesting pros, I've scoured a few posts on this issue and already talked to a lender that only gave me about 50%, adding principal and cash-out portion, for LTV in my cash-out refinance, citing DTI and Fannie Mae guidelines. Rates were good, but I need more cash out to buy a second property that will be a duplex, triplex, or fourplex, or SFH with ADU, that I will live in enough to claim the lived-in portion as a second home. What are my options? FHA loan and PMI? Refinance with the same lender that gives me the loan for the second property? (they are in different states) Or did my lender not calculate rental income and W-2 correctly for my Fannie backed cash-out refi? I'm looking to take out up to 80% LTV with the cash-out, but also need to be able to qualify for a loan on the second house, but my down payment on that house could be as much as 50% from the cash-out, so it will be a small loan and the rental income from the second home should help with that loan. [link] [comments] |
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