Real Estate Investing: Zillow Listings Scrape |
- Zillow Listings Scrape
- Should I refinance my property now or wait? Fed will hold interest rates near zero through 2022.
- Should I refinance my property now or wait? Google Spreadsheet Comparator / Calculator
- Lawyer said we should put all 10 of our properties into one LLC. This doesn’t sound right?
- How do you structure your business entities such as LLC’s and your business bank accounts for real estate investing? What would you recommend?
- What metrics and returns do you look for when investing in real estate?
- Evictions , I’m concerned as to how this will all play out over the next few months
- Need help evaluating a deal
- How to Calculate Appreciation
- First House Hack QUAD w/VA Loan
- 19 year old seeking advice on plan
- Rent by the room landlords, what is your room turnover process/checklist like?
- Do you use an accountant to help yourself invest optimally?
- Inheriting tenants during Covid — does this sound right?
- Question about financing issue
- Duplex Insurance
- EPMI (enterprise paid mortgage insurance) What are the pros and cons??
- Loans For Newly Self-Employed
- Currently furloughed from my job but want to refinance my properties. Do I have any options?
- Am I dead in the water for now?
- What is the best financial vehicle for my friends and I to combine resources for Real Estate Investment?
- SFH, or MFH, and why?
| Posted: 31 Jul 2020 11:44 AM PDT Managed to scrape all of the Zillow listings in Seattle. Ran a few quick basic calculations to rank them all by cash flow to see if I could find any hidden gems. Feel free to check out the output. If you're interested in scraping listings off Zillow for anywhere else too, feel free to send me a DM, happy to help. [link] [comments] |
| Should I refinance my property now or wait? Fed will hold interest rates near zero through 2022. Posted: 31 Jul 2020 07:26 AM PDT Hi all, First time poster here. I own a duplex where I house hack (4.5% interest on 30Y). I was wondering where everyone thinks mortgage rates will go within the next ~2 years considering the Fed Currently the 30Y Conventional is at high 2s but I believe it will hit low 2s by 2022, thus I want to hold off on refinancing until then. What does everyone else think? [link] [comments] |
| Should I refinance my property now or wait? Google Spreadsheet Comparator / Calculator Posted: 31 Jul 2020 05:06 PM PDT I made a spreadsheet to see if refinancing makes sense. Here's a screenshot https://imgur.com/G6RK67z . In this image, I assuming a $500k loan to which you paid 4 years on 30 year loan at 3.75%, and if you could refinance it at that point, to a new $461,065.86 loan at 2.75% for $2000 cost:
So you're better off refinancing in this case. Even pay off early by paying same amount monthly ($2,315.58/mo vs new $1,882.26/mo) Feel free to play around, edit mode, so be careful :) [link] [comments] |
| Lawyer said we should put all 10 of our properties into one LLC. This doesn’t sound right? Posted: 31 Jul 2020 11:00 AM PDT His reasoning was that even if the properties were separated by LLCs the courts will look at the "intent" of why they were separated and then rule that they can bring all the properties into the suit. I asked him for the law or case study on this and he said he didn't have it on the top of his head but assured me this is how it's done. Does this sound like a legit strategy? UPDATE: he texted and said it's better to separate everything and he confirmed with another lawyer. [link] [comments] |
| Posted: 01 Aug 2020 02:30 AM PDT |
| What metrics and returns do you look for when investing in real estate? Posted: 01 Aug 2020 02:01 AM PDT Do you invest in residential or commercial properties and what type of properties? What COC or IRR do you aim for and how do you underwrite and project? [link] [comments] |
| Evictions , I’m concerned as to how this will all play out over the next few months Posted: 31 Jul 2020 10:35 PM PDT |
| Posted: 31 Jul 2020 10:23 PM PDT I've got a 45 unit/ 75 bed unit targeted. Asking $2,950,000 but confident I can get closer to $2,825,000. Currently at full occupancy. Newish roof, but I'd want to put $150k-ish into the units to upgrade to efficient appliances, fixtures, etc. an another $250k for a solar/ battery array. I am looking at taking $700k from my investors @ 5.25% over 10 years and first $75k net back to investors so ~11% back In year 1. This would be my biggest deal yet so I'm not sure what I'm missing and could use any insight you have. [link] [comments] |
| Posted: 31 Jul 2020 07:33 AM PDT I'm a Realtor, so I thought this was common knowledge, but I was in a thread recently where people assumed Appreciation was random. With all due respect to those individuals LOL HELL NO! So I thought it'd be helpful to punch out a quick post on the subject. Note: For the purposes of this discussion I'm not going to get into Cap Ex and I'm only briefly going to touch on what causes an area to appreciate. I would be here all day if I went into all the specifics. If you want to know more talk to a local Realtor or Property Manager WHO HAS EXPERIENCE WITH INVESTING! Actually, local Mortgage Underwriters are good sources too. Appreciation in a shell-nut Barring outside circumstances like the 2008 housing crash & extreme low-income housing, it is very difficult for Real Estate to depreciate. This is the core reason why Buy & Hold is the prevailing strategy for Real Estate. Nationally, Real Estate appreciates between about 3-5% yearly. Since this includes hot markets, it follows that some areas are going to be in the 1-2% range, and some are going to be 6-7%. My area for example appreciated at 4.3% last year, but for 3 years prior it appreciated at about 6.5%. There was one specific neighborhood driving that boost pulling in about 13%, but that's a White Whale, don't go chasing that number you'll drive yourself insane. My area only saw this rapid growth for 3-4 years. Over a 10 year period, the number was much closer to the National Average. Beverly Hills is a great counter point. That area appreciated 5.52% over a 10 year period. This puts Beverly Hills in the top 10% of markets nationwide. The only way to get higher is to time an expanding market, which is what happened in my city when we added a ton of medical research positions. Enough percentages, let's do an example. Let's take $200,000 for easy math. At the 10 year Average for my city, your home is going to appreciate about $6,300 that first year. This is where I have to remind some of you; Real Estate Value is of course a very fluid concept. A simple thing like Red Shutters instead of Black can cost you a buyer. No one, not even the best Appraiser can determine value within $500. So while the value does compound over time, I can't promise you your home will go up $6,300 one year, then $6,498.45 the next year. But it does compound. An area that has appreciated 36.39% over 10 years appreciated annually 3.15%, not 3.639%. Over 10 years, your home has appreciated $72,800 with no Cap Ex. By itself that's a down payment on another home if you do a Cash-Out Refi. Or you could update the home with new systems to improve your rents.
I don't blame you. The examples above were mid market, city-wide averages. Most cities have areas of high appreciation & low appreciation, and everywhere in between. Changing the numbers from the average in my area, to the high, we find that $72,800 over 10 years becomes $142,300. That's nearly double. So the question becomes... How do we find areas of high appreciation? The answer to this is find comparable sales. Most Realtors can do this for you free of cost. But not all Realtors are created equal, and the Best Realtors limit their time with persnickety buyers to keep their volume high. So sometimes you want to do it yourself.
While it's technically true that performance doesn't guarantee future results, this is the main method we use to speculate on future performance. By looking at the history of performance you can get a great estimate of how well a city is managed and calculate an educated estimation of future performance. For example. Which area appreciates more Beverly Hills CA or Buford Wyoming? We can't guarantee the answer will always stay the same, but come on, be serious. You know which one has the better track record and you would need to see unprecedented cultural & economic shifts before these two become equivalent. Other Factors in Appreciation Obviously location is the primary factor, but what goes into a good location. It's important to know what goes into appraisals. But I'll summarize below.
Again I could spend all day on this, but I need to wrap up. I'll be active in the comments for a while to answer any questions. [link] [comments] |
| First House Hack QUAD w/VA Loan Posted: 31 Jul 2020 08:27 PM PDT Help with my first house hack deal, please! 1950s Quadplex, All 2BR/1BA Aprox 800sqft, 1 Vacant/3 Rented $1050 Mon2Mon, Electric Separate, Nat Gas 1meter/2units, Offer $370k, VA Fund Fee 2.3%, 2.875% 0 down Disc: Duplex property (Maryland Suburb) Each side of the duplex is split into A-Upstairs, B downstairs. 4 Units, each 2 BR, 1 Bath fully rented @$1050 per month. Large corner lot with 6 storage sheds. Dual metered Gas and 4 metered Elec. Tenants are long term and on month to month leases. Units have been rehabbed and modernized. [link] [comments] |
| 19 year old seeking advice on plan Posted: 31 Jul 2020 07:51 PM PDT I am a 19 year old going into my sophomore year of college as a business major (general right now but might narrow down to finance or something). As a result of scholarships I will have no college debt to pay off. I have a dream of buying and flipping houses in the near future and investing in real estate property and would like to househack. I currently have a summer job where I have saved just over $6000 where I have slowly started injecting into various etfs. I plan to withdraw at least some of this money in the near future to help me in real estate. I figured I would try to accumulate at least some interest rather than just let it sit in my bank account for the next few years. My uncle is a successful real estate flipper and investor and I plan to apprentice for him possibly next summer offering him free labor and whatever else in exchange for a better understanding of the business. I have started listening to bigger pockets podcast and reading books to "invest in myself." I would love to hear any feedback people can give me for my plan. [link] [comments] |
| Rent by the room landlords, what is your room turnover process/checklist like? Posted: 31 Jul 2020 03:52 PM PDT In the title. I'm turning over my first room and ran into a couple problems. Tenant is upset about minor scuffs in the paint as well as cleanliness. I will be hiring out the cleaning and doing touch ups myself. What is your turnover process for rent by room? [link] [comments] |
| Do you use an accountant to help yourself invest optimally? Posted: 31 Jul 2020 05:58 PM PDT I am new to real estate investing and I want to get a "real estate accountant" to work with. I think it would be incredibly helpful to have an accountant to help me crunch numbers before I made any major decisions, and have another opinion on any decisions I make. Do you use an accountant, and if so is it just a regular CPA or something or is it necessary to have an accountant that specializes in real estate? [link] [comments] |
| Inheriting tenants during Covid — does this sound right? Posted: 31 Jul 2020 03:39 PM PDT Im looking at purchasing a SFH. A tenant is in place with no lease, and is paying under market rent, although it stills cash-flows nicely. I would like to raise the rent to market value (which would probably push the tenant out) or flip the property (which would certainly push the tenant out). However, I fear that either direction could drive the tenant to say "screw you, I'm done paying and I'm not leaving" due to the moratorium on evictions. Because of this I'm leaning towards not rocking the boat, and letting the tenant continue paying the same rent while us landlords have no leverage. What do you think? [link] [comments] |
| Question about financing issue Posted: 31 Jul 2020 10:30 AM PDT Good afternoon everyone! Quick back story: I'm graduating college in 6 months, my current job pays me 40k a year (will look for a better job after college), and since I've lived at home I was able to save a decent down payment. My plan is to buy a duplex or triplex in Arizona between 200-240k in the Phx area with the plan of renting out the other unit(s) to pay for all or 90% of the mortgage while I live in the other unit. After playing around with the mortgage calculators online its looking like with my 40k a year job and a 20% down payment I can afford a loan of between 200-240k (maybe more maybe less) considering I haven't actually applied since I'm not ready yet. Want to aim for a year from now. Finally my question: If I got approved for a 230k place using my 40k salary and 20% down payment... could I use my FHA loan and only put down 3.5% and still be approved for the original 230k loan? Or since I'm putting down so much less it would drop the price of the multi-family unit I would be approved for? For anyone who reads this and answers I appreciate it greatly!! [link] [comments] |
| Posted: 31 Jul 2020 02:10 PM PDT Those of you with Duplex's in the Midwest'ish area like OK, TX, KS, AR (using these states as climate is relatively the same in Major cities) and I have property in OK. I know that insurance is highly dependent on what you want in your insurance plan flood etc. I just want to take a broad consensus and disregard the specifics and find a median. Would any of you be willing to share your annual insurance premiums and who it is you use? Thanks in advance to those who share. [link] [comments] |
| EPMI (enterprise paid mortgage insurance) What are the pros and cons?? Posted: 31 Jul 2020 01:39 PM PDT Hello! We are in the middle of getting a home loan, we only have 15% down but we qualify for EPMI. It sounds kinda unreal to me, but my interest went down with it and I don't have to pay mortgage insurance??? I'm just a little confused about the whole thing and am just looking for any advice on if EPMI's are a good option or not. [link] [comments] |
| Posted: 31 Jul 2020 04:40 AM PDT I just took the plunge as a self-employed contractor a few months ago. Income has been good and steady, and is like to start looking to get prequalified for a loan (my goal is to start with a 3-4plex and live in 1 to rent out the others). My question is on financing. What are some financing options seeing as most banks want 2 years of self employed income history before loaning? [link] [comments] |
| Currently furloughed from my job but want to refinance my properties. Do I have any options? Posted: 31 Jul 2020 12:48 PM PDT Title says it all. My job is currently shut down due to Covid. Probably won't be able to go back until next year. Wanting to take advantage of low interest rates by refinancing. Both lenders I reached out to said I can't refi until I have a paycheck to prove income, even though I have plenty of cash in the bank. Do I have other options to refi without having to show a current paystub? Thanks in advance. [link] [comments] |
| Am I dead in the water for now? Posted: 31 Jul 2020 10:51 AM PDT I bought my first duplex back in November, 2019 It was quite a renovation project, costing around $135k when it was all said and done. I have tenants moving in tomorrow and have paid their first rents - they seem like awesome people and I'm glad I picked them (knock on wood) I found another great property id like to purchase - but I was laid off back in March due to Covid I made about $250k last year, and this year was on pace for it again prior to being laid off. I have about $40k liquid currently and another $20k in assets, and lastly I owe around $250k on my property that appraised for $399 when I purchased it Selling the house is not an option - but I want to get another property under my belt, preferably multi family or a vacation/Airbnb property Any tips for someone like me? Is the only way to purchase a MF or Airbnb property to continuously save up 20% down? My job is commission based, and one lender told me I'd have to have about 2 years of pay stubs before I could qualify for a mortgage again - but I really don't want to wait that long. Feeling stuck... any advice is much appreciated [link] [comments] |
| Posted: 31 Jul 2020 08:52 AM PDT My friends and I are all financially stable, making at least $100k/year and we all have an interest in real estate investing. 1 of us has experience in real estate, but 2 have no interest in actively participating, they just want to put their money into something and collect a modest return. We are looking at setting up a Private Equity firm as the business, but a lot of the research seems to require most investors be accredited investors, which none of us qualify. What is the best way to go about this? [link] [comments] |
| Posted: 31 Jul 2020 08:02 AM PDT Based on threads I've participated in there seems to be a good mixture of people here who invest across a variety of asset classes. To that end, I'd like to start a discussion on (a) what you invest in and (b) why you have chosen to invest in that asset class, and (c) where perhaps you're looking to end up over time. Could be a good place to launch into deeper discussions. As a start:
[link] [comments] |
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