Real Estate Investing: Would you purchase an investment property before your first home? |
- Would you purchase an investment property before your first home?
- Is real estate investing not worth it in LCOL areas?
- How much in profit do you need to make on a rental to consider it a good investment?
- Understanding cash out refinance
- Virus & Tenant
- Off Market Deals
- Joining the military to build my portfolio?
- Is this the correct amount of expenses to add when a house hack property?
- Help w/ search criteria. Looking for a complete MF property, not part of a MF property
- How to know if an investment property is worth it?
- When analyzing a property, how do you evaluate it when it is rented under market?
- Is it a good investment to buy a 369K home in Watts area in Los Angeles?
- Sub Feedback on My Portfolio
- Adverse market fee (0.5%) for refinancing has been pushed back from Sept 1 to Dec 1
- What is too expensive for a single-family rental property?
- Looking to convert primary home into rental so I can finance my rental property as a primary ( already own a second home ) it appears this will go through, how many more can I do ? Can I buy one new property every year ? This is for my short term rental business.
- The best way for a novice to understand when a house is underpriced or overpriced?
- 1031 exchange replacement properties
- Help understanding a rental history
- Credible Websites for Buying Nevada Land
- Low home value Helocs?
- What to consider when setting up an LLC?
- Want to take out money to re-invest
| Would you purchase an investment property before your first home? Posted: 26 Aug 2020 12:30 PM PDT Was your first property and investment property or a first home? Has anyone bought their first investment property outside of their current state? I dont own a home and I've been looking into purchasing an investment property. I'm getting a lot of backlash from realtors telling me its a bad decision. I currently have a stable rent situation and I know my landlord personally. [link] [comments] |
| Is real estate investing not worth it in LCOL areas? Posted: 26 Aug 2020 07:31 PM PDT I'm mainly talking about residential real estate. I don't see how investing in real estate is worth it unless you live in a HCOL city. The main problem is that not every property appreciates. 2 of my friends in Cleveland OH are paying a mortgage higher than what their homes are worth. The second issue is management. It seems almost impossible to find a decent property management company in these locations. Compared to HCOL cities, tons of management options and professionalism. I don't see any reason to invest in properties over a REIT if I'm getting the same income for virtually no work. In HCOL cities, they get higher rents, higher appreciation, better quality tenants, easier management, less risks. What's the reason to invest in LCOL over passive funds? [link] [comments] |
| How much in profit do you need to make on a rental to consider it a good investment? Posted: 26 Aug 2020 07:32 PM PDT Still learning the ropes, and looking to see where other people stand in this. [link] [comments] |
| Understanding cash out refinance Posted: 26 Aug 2020 05:09 AM PDT There seems to be some misunderstanding surrounding cash out refinance so I thought I'd set a quick example. Hoping someone can check my work for accuracy: Say a property is worth 1M and there is 200K equity in it, so LTV is 80%. 200E/800D = 1M 80 LTV Now the property increases in value to 1.1M and you've paid off 100K of the debt. 400E/700D = 1.1M 64 LTV Now you decide to refinance pulling out equity and bringing LTV back to 80. Refinance 220E/880D = 1.1M 80 LTV You cash out the difference in equity and use it for another property 400E - 220E = 180E cash out *Debt increased 80K from 800 to 880 [link] [comments] |
| Posted: 27 Aug 2020 01:22 AM PDT I am renting out a room in my house on month to month basis. Tenant went overseas in first week of February. He was supposed to come back in first week of March. After he paid March rent I informed him that I wanted to end the living arrangement. He was okay with it. He has not paid rent since April. Now he says he's afraid to come back due to catching virus in the plane. At this point he is using my house as storage unit. How long do I keep his stuff in my house? What is my legal responsibility, liability Etc.? What can I legally do in the state of Georgia? Thank you useful responses. [link] [comments] |
| Posted: 26 Aug 2020 11:59 PM PDT Hey everyone, relatively new to the sub. So ill keep it short. I was wondering if anyone had any suggestions for finding off market deals for properties $10M+. Is calling developers the best option?Calling realtors? Thanks In Advance [link] [comments] |
| Joining the military to build my portfolio? Posted: 26 Aug 2020 05:46 AM PDT This might be a weird question, but I am currently in my junior year of college and have got really into real estate investing. I came across this sub a couple months ago and am for sure this is what I want to do. My goal is to first buy a duplex and rent out the other side, live in it for a year and then buy my second property. I was wondering if joining as a officer would help me pursue my goal of 10 properties by 30, I'm 20 now. I could use my VA loan to buy the duplex with little down. I'm not sure if my BAH would help me pay down the mortgage but that would be great. I also read from a post on here that a veteran was able to build his portfolio by using the VA loan several times, and I'm not sure if you're able to do that or not. I know I would get a decent salary as well. Is anyone in or joined the military and was able to build their portfolio? [link] [comments] |
| Is this the correct amount of expenses to add when a house hack property? Posted: 26 Aug 2020 03:52 PM PDT Hello, When analyzing a property duplex or triplex. I use the following 6% vacancy 6% repairs 6% capex Water Taxes Pmi House insurance Mortgage Am i missing anything? Property doesn't have hoa or trash etc. PM ill add 8 to 10% but overall, is this all i should add in when doing my calculation 3 to 6 months cash reserves [link] [comments] |
| Help w/ search criteria. Looking for a complete MF property, not part of a MF property Posted: 26 Aug 2020 09:33 PM PDT Whenever I search using the multi family or duplex filters most of the listings for sale are for part of the property like one part of a duplex or a single condo, not the whole property. Any recommendations on how to narrow my search for only the full multi unit property? [link] [comments] |
| How to know if an investment property is worth it? Posted: 26 Aug 2020 02:49 PM PDT Hi All, Looks like I may have had an investment property land on my lap. I've been trying to do my due diligence and see if makes sense financially to go forth with it since it would put my plans to buy my first home on hold. I know there's more math involved than is rent collected > mortgage payment so I'm trying to look at what else I should be concerned with (Property taxes, maintenance, property management company, etc.). Also where I can find this information for my specific situation. I've been looking at rents in the area and I know the math makes sense at a high level, but I want to have as much information as possible so to not have any surprises and plan accordingly. The property belonged to the grandfather of a close friend of mine who passed. The family doesn't care to take over it so they're putting it on the market. It is a 3 unit property on a lot of almost 20K sq ft. (Two 2Bed/1Bath and one 3Bed/2Bath w/ a den in LA County. Total living sq ft.: 3500) The two 2beds are already occupied by long term month to month tenants. Thanks in advance for any advice! Edit: Details [link] [comments] |
| When analyzing a property, how do you evaluate it when it is rented under market? Posted: 26 Aug 2020 08:43 PM PDT Hi, I'm analyzing a beautiful 3 unit property, it looks like its fully occupied with long term tenants(3) The stats below: I don't know the condition of the units yet, since the pics do not show them but I can speculate that low rents are due to long term tenants. When analyzing this property, should I analyze it with current rent roll? or closer to marker rents? Any advice or insight appreciated [link] [comments] |
| Is it a good investment to buy a 369K home in Watts area in Los Angeles? Posted: 26 Aug 2020 08:38 PM PDT 2 bedroom, 1 bathroom. I want to be able eventually rent it out. The houses around there are around 400K. The house doesn't need too much TLC. What do you think? [link] [comments] |
| Posted: 26 Aug 2020 08:37 PM PDT Hi it would be great to get sub Feedback on how to grow my portfolio and cash flow in this HCOL: PROPERTY 1-3 units -Value $775k -Loan $375k @ 2.6% -Gross rents $5k/month -Cash flow $2k/month PROPERTY 2-2 units -Value $730k -Loan $380k @ 2.2% -Gross rents $4k/month -Cash flow $1k/month I don't have any salary right now as I have been self managing. Covid and a water leak has cost me about $50k this year and some of my self confidence. Would be great to hear some constructive feedback on how to grow cash flow. Thanks everyone. [link] [comments] |
| Adverse market fee (0.5%) for refinancing has been pushed back from Sept 1 to Dec 1 Posted: 26 Aug 2020 06:32 AM PDT FNMA and FHLMC announced that their 0.5% adverse market fee implementation will be pushed back to December. This gives lenders time to implement correctly, without punishing them for loans that were already locked. If you're like me, and you got caught up in the rate/fee hikes, over the past couple weeks, make sure to bring this up with your lender. They likely had to quote higher rates to compensate for the new fee. This should bring the rates/fees for refinancing back down in the short term. [link] [comments] |
| What is too expensive for a single-family rental property? Posted: 26 Aug 2020 07:53 PM PDT I would imagine that as the value of properties go up i.e. 400k, 500k etc. The portion of people out there looking for housing in this price range would be those more likely to be in the market to buy rather than rent. Is there a correlation between single-family home prices and rental vacancy rates? Thanks for helping this noob out. [link] [comments] |
| Posted: 26 Aug 2020 06:40 PM PDT I just got started and feel like this is the way to go, am I thinking straight ? [link] [comments] |
| The best way for a novice to understand when a house is underpriced or overpriced? Posted: 26 Aug 2020 09:43 AM PDT Hi there! My partner and I (Canadians) are thinking to buy a property for living in the next two years. I am looking for ways to evaluate the prices of properties to understand where they are. I have little experience of how the stock market works and I wonder if there's some kind of similitudes. Any suggestions or sources where I can learn? Thanks! [link] [comments] |
| 1031 exchange replacement properties Posted: 26 Aug 2020 10:49 AM PDT I finally closed on the sale of my investment property, so now the clock starts on my 1031 exchange. I've thought about what I want to do for replacements but I've run into a few hitches. Here is roughly what I'm dealing with. I need to acquire about 500k in replacement properties. I have about 300k with the 1031 QI. My plan is to purchase one property for 300k-400k with a 200k loan and use the remaining cash to purchase a few C class properties. One of issues I'm trying to work through is how to purchase the 300-400k property. Initially qualifying for a conventional loan may be difficult due to a high DTI even though I will have plenty of equity and more than enough reserves. A few of the properties I've been considering are bank owned and require a cash buyer. So, one option I've considered is buying the larger property with cash (lets say 300k), then refi that property and use the cash from the refi (200k) to purchase the other properties. When I discussed this option with the QI, they said that it wasn't okay to do it that way. I do know that professionals can be wrong sometimes. Anyone see something I'm missing or have any other ideas? [link] [comments] |
| Help understanding a rental history Posted: 26 Aug 2020 04:36 PM PDT My parents live out of state and are looking for a property near me that they can short term rent while they are in their home state for the majority of the year. We found a condo that seems to fit all the criteria they are requiring and I'm now looking at the rental history. I has been managed by Vacasa in the past and the chart I have from them lists "Owner Hold Value" but I can't find anything about this on the web. Does anyone know the significance of this value? [link] [comments] |
| Credible Websites for Buying Nevada Land Posted: 26 Aug 2020 04:14 PM PDT My brother and I want to get into buying up land in Nevada. We're looking at lots that have very long term potential. We've thought about even having one of us move out there if we can get cheap enough water access. The problem is that most of the land is inexpensive enough where realtors aren't needed. Many of these plots on Zillow are sold by the owner themself. I wanted to make sure the lots I find are legit and not scams for this reason... Do you guys have any contacts/websites I can look at to have a safe experience looking for lots? I really appreciate the help! [link] [comments] |
| Posted: 26 Aug 2020 03:33 PM PDT From a dozen or so searches I can't seem to find a low house value heloc. Most seem to assume the property value is about 200k+ My first property in Texas is likely going to be around the 100k range. The only low home value heloc I can find is through Citizens Bank and they seem to only operate in the north east. Am I boned? [link] [comments] |
| What to consider when setting up an LLC? Posted: 26 Aug 2020 06:31 AM PDT A couple of my friends and I are interested in investing in real estate in our area. Intially we'll be looking at single family rentals. We looked at some properties and met with a lender. Now that we're getting more serious we want to set up an LLC. What are some things that we should be sure to consider? Was there anything you regret not including when you set up a business structure with multiple partners for the purpose of purchasing rental properties? [link] [comments] |
| Want to take out money to re-invest Posted: 26 Aug 2020 01:34 PM PDT I currently have a rental that is completely paid off and I want to take out a line of credit so I can reinvest, does anyone know of a bank that allows line of credit on a rental property ? Having no luck finding one, or any other advice on what to do next would be greatly appreciated Location: New York [link] [comments] |
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