Real Estate Investing: I just realized something today |
- I just realized something today
- Thoughts on Inland Investment Group-- is this a pyramid scheme?
- Good tips to know if your neighborhood/market is appreciating?
- I am going through the P&L of a property of interest and came across a $8500 “refund to owner” line item in the “Other Income” breakdown. Has anyone seen this before?
- Why so many unsolicited lease/purchase option offers?
- LLC vs Corporation for Commercial Business
- Anyone have experience with rental properties in the Saginaw, Michigan area?
- Excel Investment Bible
- less than a year out from buying first duplex (seeking advice)
- Where do you store your money that you set aside for CapX?
- Is this a dumb decision?
- Miami vs Raleigh?
- Student Housing
- Are there apps/tools that help you find the best places to invest in?
- Real Estate Agent Value To Seller
- [US-CA] Self management structure
- Bank wants a constitutive documents for RE LLC even though I'm the only owner; any of you make constitutive documents in your LLC?
- Where to get CSV for price to rent ratios by zip clde
- How to make an offer
- Any issues financing a townhouse with no HOA/Condo association?
- Where would you invest if you had BIG money ($10 Million +)
- Living in England, want to buy a house abroad. How?
- Quickest way to get started in real estate investing?
| I just realized something today Posted: 13 Aug 2020 08:29 AM PDT Hello Everyone, I've noticed something fairly recently that has been kinda bothering me. Being on biggerpockets and seeing how many people who truly have ZERO clue as to what they are talking about, then passing that info off as if they are experts. I'm kinda done with reading biggerpockets as a whole. It seems like a lot of amateurs and mom and pops who stick there 2 cents into anything they possibly can. It's a good place to start out for some initial things but man, I've never seen people need this much correcting. A good example. New wholesaler asks questions regarding holding costs, closing costs, and rehab cost. A bunch of people start throwing opinions in. Who might I add have NEVER wholesaled a property and it isn't until the 3rd or 4th page where another wholesaler steps in and gives legit info. You have to many of the small time investors with large ego's giving what is in essence unsolicited advice/opinion. I've seen both very new fix and flippers and people who dont even do rehabs try telling a new wholesaler it's his/her problem to add up expenses that are not even the wholesalers responsibility.... To put it lightly, I wouldnt take advice from someone in there 60's only making 4k a month from real estate using buy and hold methods. Nothing wrong with it but people need to stay in there own damn lane. I want anyone who reads this and is going into wholesaling to know this.
Sorry for this rant guys, I love the page on here and reccomend this more than biggerpockets. Seems like people here are more level headed and receptive. Thanks! [link] [comments] |
| Thoughts on Inland Investment Group-- is this a pyramid scheme? Posted: 13 Aug 2020 04:36 PM PDT My mom just called me to say she's doing a 1031 exchange with her current rental property and giving it all to this group. They do a weekly infomercial-like presentation and I'm very skeptical. It appears to be all commercial property and they just missed a payout date, which I guess might not be unusual for Covid, but the fact that they target retirees for 1031 exchanges seems very sketchy. https://inland-investments.com/# [link] [comments] |
| Good tips to know if your neighborhood/market is appreciating? Posted: 13 Aug 2020 09:20 PM PDT Similar to following Starbucks and Chick-fil-a's, what are some other good stores to follow or simple tricks to know if a market is good or not edit: following uhaul migration trends is another good way I have heard, what other similar websites do you use? [link] [comments] |
| Posted: 13 Aug 2020 08:14 PM PDT Don't recall seeing this before on any other P&L. And this is for an apartment complex. [link] [comments] |
| Why so many unsolicited lease/purchase option offers? Posted: 13 Aug 2020 02:08 PM PDT Does anybody else get a lot of unsolicited offers to lease-to-own your properties? I get at least 2-3 per week from random local numbers. It's almost always the same text message: "Hi, I am interested in 111 Main St. Would you consider a long-term lease with an option to buy at the end?" What's the strategy here for them, is this a scam-type offer? [link] [comments] |
| LLC vs Corporation for Commercial Business Posted: 13 Aug 2020 06:19 PM PDT My family owns multiple gas stations in Washington State. All running under separate Corporations and LLCs. Both business and land are on same company, in one case land trust. We are planning to expand our business investment out of state to Arizona and Ohio. We want to setup a structure where we can have one parent LLC or Corporation which can own the land and have individual LLCs or Corporations in respective states doing business. What would be the most ideal way to setup this kind of structure? Would it be beneficial to register in Wyoming, Nevada or Delaware ? Main goals: 1. Liability Mitigation 2. Anonymity 3. Tax Savings [link] [comments] |
| Anyone have experience with rental properties in the Saginaw, Michigan area? Posted: 13 Aug 2020 09:54 PM PDT I am a So Cal resident looking to invest in some rental properties in Michigan but I'm interested in areas outside of Detroit, possibly around the Saginaw area. Bay City also seems to be pretty affordable and both cities are close to Dow Chemical which is the biggest employer in the state, so could be promising. Plus only about an hour and a half from Detroit. [link] [comments] |
| Posted: 13 Aug 2020 03:53 PM PDT I have been very slowly developing an excel spreadsheet that tracks all aspects of my current portfolio. My current spreadsheet includes forecasting, tracking rent and expenses, and many other functions. Does anyone have a spreadsheet that is their bible that they are in consistently? [link] [comments] |
| less than a year out from buying first duplex (seeking advice) Posted: 13 Aug 2020 09:44 PM PDT Hi all, First time posting but long time lurker! I am seeking advice today as i am less than a year out from hopefully purchasing my first investment - a duplex upon which i plan to househack. Just looking for guidance on first steps i should take based on my current financial situation. Currently i have, 50K invested in the stock market that i don't mind putting towards renovation of property 7.5k in a High Yields Savings and a growing 401k (just graduated college and got my first job and putting 10%) I make 94k pretax per year 800+ Credit Score and have 0 debt. I plan on financing using the VA Home Loan as i am a veteran and due to my disability of 70% i receive massive perks in the Illinois when buying property. My lease at my current apartment ends in july of 2021 and i am hoping to purchase a duplex / triplex upon which my girlfriend and I would house hack. Any advice on when i should start contacting real estate agents, financing officers, or doing property tours? Thanks ahead of time for all the help. P.S. if this is the wrong area for this question, my apologies. [link] [comments] |
| Where do you store your money that you set aside for CapX? Posted: 13 Aug 2020 12:19 PM PDT For those of you who have a decent amount of property, I'm assuming you've saved up a decent amount for CapX. Seems like it would be a waste to sit in a savings account. Was just wondering if anyone's risky enough to throw it in a mutual fund or an index fund or something similar. [link] [comments] |
| Posted: 13 Aug 2020 07:32 PM PDT I'll try to give as much info as I can, I am wanting to get into real estate investing and to start out it seems the best way is to rent out my current home and purchase a new residence(going to start working from home and want a more private house anyways). Current Home PMI: $1323 Property manager: 10% of rent $175-195 Estimated repairs: $300 Estimated rent range $1750-1950(property manager thinks 1850 will be no problem). Total costs $1850/month. I estimated high on repairs I feel like to account for vacancy and any money that comes in will be stored into a account solely for repairs. It's basically a break even, however I live in Colorado Springs and the market/house appreciation here has been insane. Finding a property to cash flow off the bat seems impossible here. My primary residence would probably cost me about 2k/month for PMI, so around an increase of $700 that offers me a more private home. So my fears? -market is crazy here as I've already lost offers on 2 homes(someone offered 80k over list, appraisal waiver). - Seems like it COULD be smart to wait due to potential forbearance/houses going up on market government protections go away - eviction protections - house market tanks due to recession The benefits? - low interest rate(2.625%/30 year on new home) - appreciation/equity on rental home - if inflation happens and interest rates keep going down, houses would just keep going up - Colorado Springs is a hot market, but still not caught up with Denver area however is closely matching what Denver was 3 years ago. I apologize if this post is dumb, I've been listening to pod casts(the real estate guys) and trying to educate myself as best as I can. Also, the reason for a property manager is because I need to minimize liability/bad tenant starting out as much as possible and ensure I'm protecting myself. Edit: also apparently Colorado is trying to protect evictions for 16 months. [link] [comments] |
| Posted: 13 Aug 2020 06:44 PM PDT My parents live in Miami and I live in Raleigh. My parents live in an apartment they own and I am currently renting in Raleigh. I am considering buying a property that's no more than $300k, but I am not sure where. If I buy in Miami, my father will look after the property for me. I also tend to visit often (4 months). The downside is that HOA and taxes are higher in Miami. As for Raleigh, I can get a better deal for the price but I I heard it's competitive here to buy. Also being a smaller city I wonder how long I have to wait to get a return. Thoughts? [link] [comments] |
| Posted: 13 Aug 2020 09:25 AM PDT I am considering getting into student housing as my first investment property. I was wondering how people who currently own student housing property forecast for summer months. Do you tend to see lower interest during those times, do you structure your lease agreement to cover the summer months? Any other thoughts? [link] [comments] |
| Are there apps/tools that help you find the best places to invest in? Posted: 13 Aug 2020 11:03 AM PDT I might come into some money soon that I'd like to invest into real estate. I was just wondering: are there apps/tools that help you find the best places to invest in? Thanks a lot [link] [comments] |
| Real Estate Agent Value To Seller Posted: 13 Aug 2020 04:30 PM PDT I have a home to sell in the Bay Area of San Francisco. It is still a hot market and it is outside of the city and close to the regional transit line, BART. 8-10 minute walk if that. The house is an older neighborhood and was purchased 63 years ago by my father. Some of the family wants to sell, some want to turn it into a rental property. It is 2-story with 7 bedrooms and 2 bathroom, regular kitchen dining / family room with a decent yard for the East Bay. I am not interested in being business partners with some of my family members so I vote to sell. So as the title says, what value will a real estate agent bring to a seller other than marketing the home? Wouldn't the buyer and buyer's agent be interested in doing all of the inspections and title company be responsible for pulling any lien information on the home to make sure the estate has the legal right to sell the home? We plan on pricing the home to a cash investor who wants to rent the rooms or do a tear down and rebuild. We figure individual rooms could go for $1,500 a month easily. There is a two car garage attached and plenty of street parking. Why would i give up 4-6% of the sale price to have someone plant a sign in the front lawn for a sale I think will happen in 2 weeks and then unlock the door for an inspector or two if any? [link] [comments] |
| [US-CA] Self management structure Posted: 13 Aug 2020 12:13 PM PDT Looking for other owner-operator or self-managing MF investors to share how they structure their self management. We have properties each in their own ownership entity (ie, A-G) and one separate entity (ie. Z) that is a fractional owner of those entities. We treat Z like a management company, but we have no formal management agreement between Z and A-G as the owners of all entities are essentially the same. It can be confusing with vendors as they are used to working with either an owner of a single property, or a property management company. We are staring to feel like it would be easier to just brand company Z as a regular property management company for ease of dealing with vendors and tenants - but are concerned with any legal implications of doing so. Do other owner-operators have formal agreements between their own entities or simply act as a professional management company on behalf of their own investments? Just curious how you're handling this. [link] [comments] |
| Posted: 13 Aug 2020 11:59 AM PDT I can probably just use an online template, just wanted to see if you guys had any issue making them. I am pretty sure I had no such documents when I resisted the LLC in Delaware. [link] [comments] |
| Where to get CSV for price to rent ratios by zip clde Posted: 13 Aug 2020 03:28 PM PDT I wanted to ask if anyone knows a source to get this data. Zillow used to have it but they don't provide it anymore [link] [comments] |
| Posted: 13 Aug 2020 05:14 PM PDT I was wondering what the possible 'knobs' that can be turned by the buyer making the offer on a home besides the most obvious, sale price. For instance, I have heard of people making offers where the seller pays the closing costs. Why would an offer be structured this way? Why not just lower the offer on the sale price? I am looking for things like this. 'Knobs' that can be moved up or down in the offer contract by the buyer and what the reasons are for doing so to get a better understanding of what's possible. Another knob I've heard of, letting the seller remain in the property rent free for X amount of weeks post closing. What are the other 'knobs' folks know about and why/what situations would you use them in (more detail than 'seller vs. buyer's market would be helpful not mandatory of course). Thanks in advance. [link] [comments] |
| Any issues financing a townhouse with no HOA/Condo association? Posted: 13 Aug 2020 12:43 PM PDT |
| Where would you invest if you had BIG money ($10 Million +) Posted: 13 Aug 2020 12:23 PM PDT Asking for a friend (no, really) who just came into the kind of money mere mortals like me dream about. He came to me because real estate is my thing, but I've never dealt with this kind of money before so I'm a little out of my element. Basically, we are brainstorming areas now to then reach out to brokers. REITS and other funds aren't an option, he's looking to buy property on his own. He wants to avoid seriously depressed markets like Detroit, but other than that we're open to anything, although have been leaning more towards large cities. I asked him what kind of returns he's looking for, as well as what types (cash flow, value add, natural appreciation, etc.) and he basically said he's open to anything. So-I'll leave that up to you. If YOU had this level of cash, where/what would YOU invest in? [link] [comments] |
| Living in England, want to buy a house abroad. How? Posted: 13 Aug 2020 11:10 AM PDT I want to buy a property overseas, in Albania to be specific but I live in England. How do I go about doing so? I must have citizenship to open a bank account overseas so is there a way to use my British bank to open a mortgage overseas?? If anyone has had experience with purchasing overseas, please let me know. Thanks! [link] [comments] |
| Quickest way to get started in real estate investing? Posted: 13 Aug 2020 11:00 AM PDT Trying to decide what the best course would be to start investing in real estate relatively quickly. I don't have a lot of personal capital (approx 35k) Would I be better suited to put money down on a house, or out right buy a cheap house to get started or start a real estate investing business entity and take out a business loan? Looking to both flip and hold rental properties. By quickest I mean quickest way to to build the biggest snowball of sorts. Anyone have experience in going these two routes? Thank you for any insight! [link] [comments] |
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