Real Estate Investing: Unauthorized person (tenant) modified my trash services at apartment building which screwed up my contract and landed a triple bill on my desk. |
- Unauthorized person (tenant) modified my trash services at apartment building which screwed up my contract and landed a triple bill on my desk.
- Any Contractor + Real Estate Investor need help in NYC right now?
- What is Zillow (Owned Homes) Doing?
- Investing in Vacation Properties
- Sell condo or maitain as rental
- Thought I had an in on my first investment property...
- Best approach to start real estate investing (high COL resident)
- What percentage appreciation rate is booming?
- Property Sold for $1?
- Dealing with Debt Collect
- Mobile Home Park Evaluation Process
- Sell or rent?
- Recommendation for a property management company in ATL
- Renting out my home to buy next investment property — advice appreciated
- Convince me not to paint a brick exterior
- What are the best ways to find an agent that also invests?
- Third house option and cash flow numbers - see picture.
- Where to Buy First Home/Investment
- Is the Las Vegas market appreciating?
- Can you legally set up a contract where the tenant is responsible for a percentage of the repairs?
- 1031 exchange when building a home
- What to look for when getting landlord insurance?
| Posted: 30 Aug 2020 01:37 PM PDT TL;DR at the bottom. I've never experienced this situation before. The background information is one of my buildings is a 6-unit apartment building in a solid B class suburb of a mid-western city. It's been a pretty good investment since I've had it and overall I'm quite happy with it. In this area the owner (me) pays for trash services and water/sewer. Tenants pay electric and gas. My trash service was set up through a sales rep for the area who set me up with a contract and basically I call her directly if I need anything. She has been great and when my contract expired after two years and the company started raising my rates every month. I called her after the price went up 20% and she reset a new contract back at the rate I was at previously. The building has 4 trash totes and 1 recycle tote, and is 6 smaller units. I use a PM and have never directly interacted with any tenant. Background data out of the way, here's what happened. Last week I got an automated email from my bank that my auto bill pay for the trash at this location was rejected by the bank for exceeding the upper limit amount I had specified. I set all my owner paid stuff up to auto pay but use some limiters to catch when things go horribly wrong. The normal bill is $105 but my upper limit was $300. The bill was for about $310. Shortly after the email from the bank I get a similar notice from the trash company basically telling me the same thing. I called my sales rep at the trash company and she digs into the account and says "What did the call center say when you called them and added the two additional totes?" I say some version of "WTF? I didn't do that." The rest of the day was a bit of phone tag as she dug into the account to try and figure out what happened, I called my PM to see if they had made a change on my behalf. I didn't remember giving them permission to change things, but I couldn't 100% rule it out that maybe I forgot. Ultimately, I discovered the PM did not make any changes, and the trash provider's notes said the caller said their name was "Invest-O-Tron-3000" (my actual name) and a phone number was logged that was NOT my phone number and I didn't recognize. I assured her it wasn't me since I would have called her directly not to the company's 1-800 line. At this point I had the thought to check the phone number the call came from (thank goodness they had that logged) against all of my old and current tenant leases to see if it was a current tenant or disgruntled former tenant or something. I found that it matched one of the tenants currently living in that building. She is one of the newer tenants maybe 6 months or so. My PM gets back to me and plays detective going through all their email / phone conversation logs with the tenants in the building and we piece together basically that a couple of the newer tenants in the building (maybe others are involved too but two that I know of for sure) have had a bit of a spat over the trash bins, because one of them is on business travel most of the time and only is home a day here or there, and she says the people in this other unit use too much of the bin space and its sometimes full when she gets home and blah blah blah. At this point it's fairly clear that there has been some drama between two or more tenants about who is generating more than their fair share of trash, and instead of reaching out to the PM who would then consult with me, one of the tenants, possibly in collaboration with the other or perhaps on her own, called the 1-800 phone number for the trash company, gave them my name (which she would have had to look up through property ownership records as they are never given my name), the trash company call center has no safeguards in place to prevent such a situation, and requested two additional bins. Because this call went to the call center, it voided me out of my contract, and jacked my rate from my good sales-rep rate to "full retail pricing" on all my bins and I get a triple size bill, including "delivery fees" for adding the bins. The sales rep is going to get back with me Monday or Tuesday with options, which could range from removing the two extra bins (which incurs another charge), leaving things as-is, or converting to some other solution entirely like one large dumpster (which has other issues like people doing weekend moves pulling up and unloading their pickup truck beds into it.) I'm pretty sure that I can ultimately get the trash company to either wave all the unauthorized charges, or take it out of the tenant's account, so in the end I believe I can be made mostly whole. I wouldn't even have been opposed to re-evaluating the trash bin situation if it had been handled properly instead of people forging my identity and all of that. I'm not sure how hard I should come down on the tenant. One one hand tenants are often dumb, and basically need their hands smacked when they do something wrong in order to be retrained. But I also don't want to reward bad behavior and encourage this sort of thing. My gut reaction is something like sent general email to all tenants and have PM specifically speak to this tenant with stern "this is your one allowed screw up" warning, make her pay for any charges / increases I can't get reimbursed for, and move on with life. I don't personally feel like it's worth a turnover if I can get paid back, but maybe that's wishful thinking and this is a bad omen of things to come. TL;DR - One of my tenants who was unhappy about the # trash bins at the building, called the trash company pretending to be me, and ordered more bins, which screwed up my contract and jacked up my bill 300%. While I work on getting unauthorized changes undone and paid back for their costs, I'm debating how draconian to be with the tenant who did this. Edit #1 - This literally just happened Friday so I haven't even found out for example if the trash company can get a recording of the call or not. Edit #2 - I feel bad saying this but I watered down what I said about my gut reaction. My true first gut reaction was to show no mercy. But my first reaction is often rooted in a sense of justice boner that isn't necessarily conducive to turning a profit. So what I described as my gut reaction was really my tempered reaction. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Any Contractor + Real Estate Investor need help in NYC right now? Posted: 30 Aug 2020 11:37 PM PDT So, I checked community rules. This should fly, but if it doesn't, please let me know. 22M here, just graduated engineering school (mechanical eng) from a good college in NYC. Currently unemployed. In the meantime, I've been studying for my licensing exam, applying to jobs, doing market research in the consumer products industry (have done work there before), and am working at a paint store. Long story short, I want to dive deep into real estate investing + contracting and learn something until I land an engineering job, and on weekends after that. Do any of you (contractor + investor) need help in NYC right now? I'd like to learn as much as possible. What I offer: -Knowledge about the entire line of Benjamin Moore paints, down to the product code numbers and color collections -General hardware store knowledge -Mechanically inclined -Always do a good job. I never half ass anything. -An extra hand If you're interested, please send me a dm. I can work 3 days, as the other 4 days I already work. Please don't message me unless you have done two or more successful investment properties, and are willing to teach. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What is Zillow (Owned Homes) Doing? Posted: 30 Aug 2020 06:02 PM PDT So I was just perusing through random listings today, and came across this one: And there's others like it, I'm not singling out this house for any particular reason. It looks like a Zillow Owned Home, that they bought 3 weeks ago, cleaned up, and tossed back on the market for 4.9% more. Doesn't seem like a huge gain at all...and most likely a net loss. So what theory do you think is most likely?
[link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investing in Vacation Properties Posted: 30 Aug 2020 06:20 AM PDT Longtime lurker... For a variety of reasons, my wife and I are looking into investing in vacation rentals. We have not done any real estate investing before. Our plan is to start close to home (we live near, but not in some high traffic vacation destinations) and see where it leads. We will use a property management service, but my wife is also looking at it as something she can contribute time to do. I'm curious what experiences people here have had with investing in vacation properties. How did you approach evaluating properties? What resources did you find helpful? What worked? What didn't work? What should we watch out for? What type of property did you target? What locations? What size property? Did you use a property manager? What listing sites did you use? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sell condo or maitain as rental Posted: 31 Aug 2020 01:20 AM PDT I am trying to think ahead for the next 2-3 years. I have a condo in a HCOL area which was my primary residence until a couple of months ago. I only put 3.5% down on an FHA loan 3 years ago and i was able to refinance late last year and get rid of PMI as I reached 25% equity and got a conventional loan. Today, I gave the keys to my first tenants and I am really hopeful everything will go well this year. I am debating whether I should sell this condo or maintain it as a rental after the 2-3 year mark as any earnings of the sale would be tax free as it was my primary residency the last 3 years. We completely remodeled the condo when we bought it 3 years ago, including updating plumbing, so I hope there wont be large maintenance costs ahead. As of today, I have about ~105k equity but rent cashflow is actually very low, only about $200/ month after PITI, HOA, and expenses. At least for now it's paying for itself and I will continue to get equity for the next couple of years. At least this is what I am telling myself. Does it make more sense to sell and take advantage of the tax free earnings assuming i will maintain or increase equity? Or keep it as a long term investment? My condo is near several biotech companies, a large university, and a great school system so I am hopeful finding good tenants won't be an issue. Also, the rent is below the recommended 1% rule. Its more like 0.70%. Is there a way i can make a better assessment of what makes more sense financially? Let me know what you think and thank you for answering my question! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Thought I had an in on my first investment property... Posted: 30 Aug 2020 11:15 AM PDT A good friend of mine grandfather passed away and left a 3 unit property to his father in Los Angeles. Was excited of the opportunity of having passive income and helping my family as I saw my parents do the same. And also excited that I had at least an in on the property. So I contacted their agent to view the property. Fast forward to a week later and I haven't got the chance to view the property. Decided to submit an offer anyway with my agent and still try to get a chance to see the place and even he is unable to reach their agent to confirm a time for viewing. My agent thinks their agent is holding back offers to make one offer look more attractive which is ironically the only offer that had been able to view the place. We submit a higher offer and then the seller's agent says that they have already accepted an offer. Reached out to my friend to confirm with his father. Feeling a little frustrated that I don't even think I got a fair shot at this and also that their agent would be like this if our suspicions are true. Seems a bit unethical. As you might have been able to tell, my real estate terminology may not be up to par as many here but I hope you get the just /endrant [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Best approach to start real estate investing (high COL resident) Posted: 30 Aug 2020 05:10 PM PDT I'm in my mid-thirties and just got comfortable with regular investing outside of my 401k. I'm really interested in building wealth through rental properties -- I even joined to the Bigger Pockets pro community a year or two ago, but took no action (shame on me) yet. EDIT: Home state is NJ; cash to buy is about 30K -- 80K if I depleted my savings & brokerage. With rates where they are at right now, I'm feeling the pressure to buy a home. I have capital to put currently in a HY personal savings account and brokerage account for a down payment. My dilemma is that I live in a densely populated, high cost-of living state in the northeast. I live alone, and could continue to rent my current 1 bed unit which is a "steal" at 1650 per month, but I understand that could be a monthly payment on a home. I've wondered if I would be better off trying to find a property out of state for under 200K and rent it out -- this would allow me to put down a 20-25% payment -- and as long as it gets rented fairly quickly, I could keep living in my current state (and apartment) while building equity. Not to mention the home prices these days are so inflated to -- I just don't feel like I have the buying power -- and in this market I wouldn't want to dip too much into my savings/investments. I've also considered buying in my state, but that would require a larger down payment and higher property taxes. I also have reservations about being a landlord in this state, where it may be more cumbersome to evict tenants and everything is just so much more expensive (repairs, renovations, etc) . Also, the desirable areas with good schools are so expensive that the numbers don't really work from a cash-flow perspective. Houses are being snatched up from out-of-state buyers looking to escape cities, and there aren't many foreclosures on the market (yet?). I've grown up here and most of my family is here. I've thought about moving out of State for the right job opportunity, but no solid plans to leave anytime soon in the current job market. I'm seeking on vice on what would be the better option: investing out of state and saving more capital, or buying a primary residence here, then renting out eventually. I've looked at markets in NC and PA -- areas I've never lived in or visited frequently, but could probably make the numbers work and find units or homes that cash flow. I've even looked at AL, but again don't know much about the state/market. Any advice is greatly appreciated! [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What percentage appreciation rate is booming? Posted: 30 Aug 2020 08:35 PM PDT Is three percent total appreciation rate average or is that booming? I'm kind of confused on what is a normal or average appreciation rate. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 30 Aug 2020 06:00 PM PDT My grandfather originally purchased the house in the early 90s for around $20k. He died, my mother took ownership and rented to tenants. She's mentioned selling the house to me on more than a few occasions. I would live in it with my family for a few years and rent it out after. We haven't agreed to buy the house yet and there's been some back and forth on what we should pay/ what it's worth. I've done a parcel search for the property and see that the house sold for $1 after my grandfather died. Does this mean that my mother owns the house free and clear or could the $1 represent something else? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 30 Aug 2020 11:49 PM PDT I own some land and rented it to someone who put a manufactured home on it. The person had a mortgage on the home but could not pay it, so the home (not the land) went to the debt collect. This happened over the last year, and now I would like to get the title of the manufactured home. What would the steps be? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mobile Home Park Evaluation Process Posted: 30 Aug 2020 11:53 AM PDT My Acquisitions Partner sent this over to me this week, it's been awhile since I've shared an Evaluation with you all, so let's do it again! Property Type Mobile Home Park Total Rental Sites 132 Community Type All-Ages Total Acreage ±25 Acres Developed Acreage ±20 Acres Use Code 415 - Trailer & MHP Parcel Number(s) xx-xxxxx-000 Flood Zone No Opportunity Zone No Offering Memorandums often include this information, and set the tone for the rest of the OM. The things we look for here are the number of sites, and make sure we are aware if the there is Flooding from Fema (Which would make insurance expensive) or if it is an Opportunity Zone (which helps us if we are looking for tax advantages) We also want to know what kind of park it is and knowing how big of a lot each home sits on helps: 20/132 is .15Ac which is not what we'd consider a "Park Like Setting" but it's definitely not a "Parking Lot Setting". There is some yard available for the residents. Next we get into some Infrastructure: Water Line Material CPVC Sewer Line Material PVC Road Surface Asphalt Driveway Surface Gravel Parking Per Site 1-2 Vehicles Electrical Amperage 150 Amps We've learned here that the utilities have been upgraded, or at least it's not 60+ years old. Which is great. It's got real roads, and off street parking which are all good signs of a nicer park. Utility TIME:
Now we are getting some information to make some real analysis We've learned that the park in on public utilities. Which is going to lower our expense ratios, always a good thing. But when we see that the water/sewer is submetered it tells us that we own the plumbing in the ground, and will have additional cost in maintaining the infrastructure, and will likely have some collection losses. We also need to research what the rights/responsibilities are for this particular state on whether or not we can shut-off utilities. We've also discovered that we have dumpsters, and we will need to factor in that cost and and have a plan to keep the dumpster area from causing problems. We see there is propane, so we can assume so additional insurance costs because well, you now have storage of explosive material on site. Yikes! So we've learned some stuff, and can make some assumptions, but I assume you are here for the real good stuff The Numbers! THE NUMBERS
YTD EXPENSES:
So we take our YTD GSI ($151,739) we add back in the W&S ($32,704) and subtract Total Expenses ($108,629) to get a NOI of $75,814, except the OM has it listed as $51,759. A difference of 30% or ~$24,000 just disappearing. Guess where it likely is? - Billed back utilities! No one is paying their GD water bill! This is opportunity for us. OM has non-operating expenses of $23,397 for a Final NOI of $28,363. Somehow we lost $57,000 in 7 Months! Yikes! Ready for the crazy thing?
No listed price! The seller is disappearing $8000 /mo and then doesn't know how to price their property (or the broker either!) So now we get to tell them what we think! I like to think I'm a generous person, so my initial thought is NOI: (28,363 / 7 months of expenses stated) x 12 (to annualize) = $48,622 at a 10 cap = $486,229 Do you think they'd go for it? Probably not because they own 12 POH! So they are going to want lets say 20k each for another $240k, so we bump up our purchase to $726,229 (lets round for fun sake): CALCULATED OFFER PRICE: $730,000Then if we figure CapEx: 40k (price of new homes) x 8 empty pads: $320,000 16 Unsuable pads x 10k to make usable: $160,000 Add another 16 homes @ 40k: $640,000 CAPEX to get to full occupancy: $1,120,000 Total Cash In: $1,850,000GSI at full occupancy 126 x $ 250 = $378,000 ROI After 3-4 years: 13.28%VALUE OF PARK When Full: $4,914,000[link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 30 Aug 2020 02:58 PM PDT I own a condo free and clear valued at about $210,000 before any renovations. I could put about $8k in and rent it out for about $1,600. HOA is $280 monthly and property tax and insurance is about $275 monthly. It has appreciated very minimally over the years and has not yet reached the value it was purchased for in 2006 ($250,000). Does it make more sense to rent this property or sell and use the profits to purchase a multi-family property without HOA fees that will hopefully appreciate at a higher rate per year? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Recommendation for a property management company in ATL Posted: 30 Aug 2020 10:25 PM PDT I am shopping for a PM in the Atlanta area. Would welcome recommendations/referrals. Thanks. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Renting out my home to buy next investment property — advice appreciated Posted: 30 Aug 2020 08:11 PM PDT I first purchased a vacation home in an increasingly popular area for NYC weekenders four years ago. I fixed up the entire house over the course of two years with hybrid DIY and contractor work. Realizing the knack my wife and I had for transforming our old home and being design forward, we took the plunge on our first rental property. This is a seasonal vacation area but is popular in both summer and winter (skiing) so shoulder season is fairly short. So far it's done well thankfully. Some quick stats: Purchase price: $139,000 (25% down) Renovation: $70,000 Appraised ARV: $310,000 Monthly PITI/maintenance: $1100 Cash flow: $2,800/month Across both my main home now and my rental property I'm about 30/70 debt to equity. It's been grueling at times but we've built up a sizable amount of equity and put 25% down on both houses. The market has appreciated at a good beat as well. So now I'm eyeing my next rental property, but I enjoy buying fixer uppers and renovating to our standards. Of course this has the negative of extended downtime before it's rental ready. I'm thinking of putting my main house up for rental (it's definitely not a "forever home" but great for a young couple with a kid) to generate immediate cash and move into the new house to fix up. The monthly excess cash generated will certainly cover the new house nut, but it's $275,000 as the market is a bit hot at the moment. From a cash flow perspective it works but CoC looks a bit weak since it will probably need $50k of work before it starts bringing in $3k+ month after expenses. Also I'd only be putting 10% down on this one. The location is absolute prime within the area though and is starting to gentrify so I think outlook is strong. NY annual tourism report shows consistent double digit growth in spend. I guess my main concern is I'll be leveraging up a bit more and I definitely feel like I'm overpaying in the heat of the pandemic. On the flip side it makes sense from a cash perspective as I'll immediately be using cash flow from my main house to pay for this new property. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Convince me not to paint a brick exterior Posted: 30 Aug 2020 07:55 PM PDT Considering painting the brick exterior of a 1600 sq ft ranch buy and hold rental. Exterior is in decent shape, just looks dated... - I've read painting over brick can damage bricks over time. Is this true? -How often would you have to repaint? -Would fresh paint/curb appeal increase rents? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What are the best ways to find an agent that also invests? Posted: 30 Aug 2020 07:33 PM PDT I'm looking to meet with agents that have experience doing their own investment deals. So far I haven't had any luck I think I'm just looking in the wrong places. [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Third house option and cash flow numbers - see picture. Posted: 30 Aug 2020 02:24 PM PDT Hi all, I'm considering buying a third house and hoping to run some numbers past some folks to get any additional insights. I'm 34M, I've bought and rented two houses over the past 8 years, living in each one while doing some renovations and renting a portion. Moved into my 2nd house about 1.5 years ago and live up and rent 2 basements suites, it's a triplex. My plan would be to buy a third house and move into it and rent the basement. I live in Canada, bungalows with basement suites are around 350-450K, I would put down 80-100K to get the mortgage payment in the picture. Curious to know what people think, is it worth it, should I keep buying and renting like this. The houses I have are in areas where some new builds and infills are being built, on largish lots. I would plan to rent/own any houses for 10+ years. Thank you. house cash flows [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Where to Buy First Home/Investment Posted: 30 Aug 2020 02:04 PM PDT I currently live in an area where it's a MCOL and the average sale of a home here is about $450k. I recently looked at a city in the middle of the country and found a house on it's own land for $45k that's move in ready it appears. My current mortgage credit scores from myfico.com Equifax fico 5 score: 645 Transunion Fico 4 score: 637 Experian Fico Score 2: 579 I'm cleaning up my credit right now. I have 28k in student loans in deferment right now. I have $1,800 in credit cards that I'm paying off today. I have four collection accounts that I am paying off next week. How long will it take for the credit bureau to reflect all of the changes? I currently work from home making $52k salary. I also supplement my income with UberEats delivery very part time for an extra $1,000/mo. So, I'm making about $64,000 right now. If I stay here it will it will take me over a year to save up for a down payment and cash savings of $25k. If I save $1,500 for 17 months that will give me $25,500 to invest over an above my emergency fund. This money can just sit in a high yield savings account for safety. I've thought about just buying the home in the middle of the country because with the same investment schedule I could pay off the home in approximately less than three years. Then I could buy another one with the equity in the first? Should I stay here and save, or move and buy? I have thought about buying over there and then renting out the home after I buy it which would be cool too. Any advice here? I'm currently living with my partner and renting. We would like to buy a house together in a couple of years. However, I have a personal housing insecurity and need to own my own house without anyone attached to it so it's my safe place always. How do I do this and buy a house with my partner in a couple years? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Is the Las Vegas market appreciating? Posted: 30 Aug 2020 11:36 AM PDT I was just looking at SFHs in the Las Vegas area and many seem very nice and surprisingly affordable. What's the catch? Is this a good market to invest in? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Can you legally set up a contract where the tenant is responsible for a percentage of the repairs? Posted: 30 Aug 2020 08:35 PM PDT Let's say the property needs repairs, and you have made the tenant sign a contract where if the repair is greater than a certain amount, they are responsible for a % of it. This way the tenant has an incentive to take care of the house better while they're renting from you. Is that heard of or legal? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1031 exchange when building a home Posted: 30 Aug 2020 03:29 PM PDT Greetings! I bought a home in dec 2019 through a revocable trust. It's homesteaded. The house has blown up in value and when we exit, we will likely have over $1mm of appreciation. We just put under contract a lot that will be our forever home. Construction and permits will take about 3 years. How do I buy this lot/build in a way that I can 1031 my current home when (if) i end up selling for $1mm gain down the road? [link] [comments] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What to look for when getting landlord insurance? Posted: 30 Aug 2020 03:25 PM PDT Hey all, I'm gearing up to rent out my first property and I'm planning to get landlord insurance. Aside from the obvious (property damage, medical liability, etc), what are some other important coverages I should make sure to get? This is for a top floor condo unit. Thanks in advance for your comments! [link] [comments] |
| You are subscribed to email updates from Real Estate Investing. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment