Real Estate Investing: Civvl, a startup that aims to be the Uber for evicting people |
- Civvl, a startup that aims to be the Uber for evicting people
- UPDATE!!! AND MORE QUESTIONS. HELP! I’m a homeowner that offered my friend and tenant to sell the house(she’s a realtor). Now she wants to buy it. She is suggesting to buy the house at a price that has the realtor fees 5% already knocked off. Because she will be doing all the work???? (Ca)
- Bought a house with girlfriend in mind. She left and idk what to do. Help!
- What is a good real estate investment strategy besides BRRRR for a newbie real estate investor?
- Is it possible to live in a abandoned school or factory building
- Refinance Rental Property Help - LA area
- Interested in a property but the owners passed...
- Losing money with renters. Wondering if we should sell.
- When to refinance
- Purchasing investment property in Philly
- STAR property tax rebate for primary residence in NY
- California foreclosure freeze question
- Question regarding a Sub2 deal: Can the current owners stay as tenants?
- CA 4-pled with existing tenants
- Selling a tenant occupied house
- Can someone check me on a potential investment?
- What lenders are still offering a HELOC on paid-off residential investment properties?
- Delaware Statuary Trusts: What was your experience?
- Maybe strangers on the internet can help me with the biggest financial choice of my life so far......
- Encroachment
- How best do I find potential investor buyers in the Littleton-Denver, CO area?
| Civvl, a startup that aims to be the Uber for evicting people Posted: 23 Sep 2020 04:54 PM PDT Looks like some entrepreneurs are taking advantage of the fact that COVID has caused a lot of future evictions. Source: https://www.youtube.com/watch?v=-Jfj4QvPmn8&ab_channel=TheHill [link] [comments] |
| Posted: 23 Sep 2020 08:30 AM PDT The only reason I have even contemplated selling directly to her before putting it in the market was to in fact save in realtor fees which would be at or near 20k. I have questions and maybe you have answers to questions I didn't think to ask. She is trimming to say if the house is worth 380 then just subtract the realtor fees and she will buy it for 360, thus giving her instant 20k equity. I told her that even though I know I will/would have to pay the fees if I put the house on the market, she the buyer would have to pay the 380 to live there. I suggested that we find a price point that we both agree on and potentially split the realtor fees in savings. So meet somewhere in the middle at 370k. Her response was that she is doing all of the work!!! Because she has to do all of the contracts?? Also she is saying that she will be writing up the contracts for both of us.. that seems odd. (Red flag). I realize that realtors when out on the market have a lot to do as far as listing a house, when putting a house on the market, but what about when they don't? She also wants me to come up with a price I want to sell it at. So many problems. I'm not a realtor and I told her that I can no longer accept her word as truth because now she is the buyer and wants the lowest price and I am a seller and want the highest price putting us in a conflict of interest. Also worth noting the market in the area is selling hot and fast, and interest rates are historically low.. so why in the name of anything holy would I agree to give her 5% commission or a 20k discount for a market that has the potential to overbid??? 1.So my question is what is the process that happens when 2 people agree to a price is a realtor necessary? 2.What does a realtor do "job wise" when 2 groups come together and agree on a selling point. ( It seems significantly more if they list the house and put it on the market)
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| Bought a house with girlfriend in mind. She left and idk what to do. Help! Posted: 23 Sep 2020 04:17 PM PDT Bought my first single family home in a HCOL area in March. I bought the shittiest house in the neighborhood that needs some love but its nothing overwhelming. I bought the house with a VA loan so really little money came outta my savings (maybe 1k). Here's my problem, I bough the home with my ex in mind. I never really wanted to get a single family home because I dont really cared to live in a home by myself. I was in love so said fuck it and bought a home that we both enjoyed, and plan to live the rest of our lives together in. Now that we are broken up I have to figure out what the hell im going to do with this place. The mortgage is 1300. I have a friend staying with me who is giving me 1000 a month with utilities/internet included. Should I stay here and buy a multi-family in the following year when the market cools, or move out and rent it out. I live in a desirable area. I could easily get 1800 if I put it up for rent. I honestly am lost on what my next move should be. Help! [link] [comments] |
| What is a good real estate investment strategy besides BRRRR for a newbie real estate investor? Posted: 23 Sep 2020 04:33 PM PDT I've been reading and listening to bigger pockets a lot and it seems like the main focus is on BRRRR. I'm hesitant to do BRRRR for a couple of different reasons. 1) because I have a full time job so it's harder for me to do the ground work it takes to find the deals required to pull BRRRR off successfully,, 2) I don't have the capital or connects to raise capital to pay cash for properties, and 3) I will be investing out of state and doing BRRRR out of state feels extremely risky. What are some alternative real estate investing strategies besides BRRRR for a real estate investor that will want to scale up to 10 properties in 5-10 years? I could just rely on my savings from my W2 to buy homes but I'll only be able to purchase 1 a year. [link] [comments] |
| Is it possible to live in a abandoned school or factory building Posted: 23 Sep 2020 09:45 PM PDT Ok it's like a goal for me to live in a abandoned school building or factory building and I'm just wondering is that possible? [link] [comments] |
| Refinance Rental Property Help - LA area Posted: 24 Sep 2020 01:24 AM PDT Hey guys, I am considering to refi my rental property in Los Angeles area.Any recommendation? What rates were you able to get? TIA! [link] [comments] |
| Interested in a property but the owners passed... Posted: 23 Sep 2020 02:00 PM PDT So I've had my eye on a property for a while but hadn't really decided wether to contact or not. Not to long ago I looked up the tax records and saw the owners have 3 properties near by and the taxes are all delinquent. I contacted my agent to see if we can make a move on the one property i want and we learned that the owners are deceased. How do I go forward with this? Im still very much interested in purchasing but cannot get in touch with anyone. Located in CA. [link] [comments] |
| Losing money with renters. Wondering if we should sell. Posted: 23 Sep 2020 10:21 PM PDT My husband and I bought a new house in a new development 10 years ago (2010) in Killeen TX. close to Ft. Hood Army base. We bought this house to live in and slowly watched the neighborhood go down the drain. We had to move (2015) due to work and decided to keep the house as a rental due to its close proximity to a large military base. Luckily, we're not short on renters, but the equity hasn't increased much since we purchased the house and we don't make any money due to rent being the same amount as our mortgage. We've lost money (around $6k) due to 2 separate renters who caused unnecessary damage to the house. We are now moving to Hawaii for work and are considering selling the house in Texas in order to purchase a new house in Hawaii. This is because my husband will be using his VA loan and in order to use it again, we must sell our current Texas home. We are wondering if this is a good move as neither of us knows about real estate and would appreciate any advice. Thanks! [link] [comments] |
| Posted: 23 Sep 2020 09:42 PM PDT I purchased my first property in July in cash and was able to get enough of a discounted price that I should be able to refinance 100% of my initial investment out. My plan is to refi around the beginning of next year (seasoning period) and then start shopping for my next property. Seems pretty straight forward but if I take the whole amount out, I'll basically just break even each month for the first few years. I've already got renters so I'll have reserves just for this house by then, but I'm contemplating not refinancing and doing a RELOC or keeping some money in the property to make sure there's a couple hundred extra each month. I don't need the cash flow as my wife and I make good income outside of this and my goal is to build up a portfolio of homes for the future. Can anyone give pros and cons on RELOC vs refi? I could use the write-off probably more than the income, for now, but do RELOCs offer the same deductions? Am I risking lost opportunity with such low interest rates of I go RELOC? Can RELOCs be taken away if not used and lending tightens up? Are there other considerations I should weigh? Any info would be appreciated [link] [comments] |
| Purchasing investment property in Philly Posted: 23 Sep 2020 09:25 PM PDT I'm new to real estate investing and looking to make my first move to own my first investment property in the next 3-6 months. I was originally looking to househack but am now considering having all units rented in a multi-family while I continue to live with family (rent free). I'm considering purchasing a multi-unit row house in East Kensington / Fishtown area of Philadelphia. The specific property I'm very interested in is listed at $89k and already has tenants living in the 2 units each paying $600 / month. I can comfortably afford to put 20% down which would leave the total monthly cost (mortgage, home insurance, taxes etc) at approximately $450 / month. Things to consider:
I'm asking for more experienced investors & knowledgeable people here if this would be a good first investment and if I should be wary that this seems too good of an opportunity. [link] [comments] |
| STAR property tax rebate for primary residence in NY Posted: 23 Sep 2020 02:48 PM PDT If there are two properties on one piece of land (one owner for each property), is each property owner entitled to their own STAR property tax rebate (as long as they meet the other qualifications?) Or does the rebate apply to the land as a whole to be split amongst the owners? Co-owning properties is not fun... having a debate on who owes what for property taxes. [link] [comments] |
| California foreclosure freeze question Posted: 23 Sep 2020 12:21 PM PDT How has the foreclosure freeze affect the wholesale market? Has it affected you personally as a real estate investor? [link] [comments] |
| Question regarding a Sub2 deal: Can the current owners stay as tenants? Posted: 23 Sep 2020 01:14 PM PDT Hey all! As the title suggests, I found a unique opportunity where I may be able to solve using a "Subject To" deal. I just want to note that this is in Arizona (if that changes anything). I started Wholesaling with a friend in the area after doing a ton of research, and one of our leads has a house thats worth about 375k. He has 200k left on the mortgage on the property and a 50k line of credit that he's behind 10k on. The owner knows what's up and he is pretty insistent on wanting to stay in the property. He is open to a Sub2 loan but he would want to be the tenant and pay us rent. So this is my understanding of how this would work. We agree to buy the property at $250k (mortgage plus line of credit), and then he would have the option to buy the property back from us in a year at $280k (a $30k profit). During that time, we would rent out the house to him at a price that's higher than the mortgage + taxes + insurance to get some cash flow and pay off the mortgage. We would need to put $50k of cash in to pay off the line of credit. Now this all works on paper, the only concern is what if he stops paying rent? I would technically 'own' the property (since we would sign the deed over to me), but would the courts side with the previous owner since the loan is in his name? [link] [comments] |
| CA 4-pled with existing tenants Posted: 23 Sep 2020 01:14 PM PDT Please excuse the misspelling in the title, posted this on my phone during lunch break. Potentially purchasing a 4-plex that needs some work - the plan is to live in one unit and rent out the other three (FHA loan), renovating one unit at a time. All 4 units are currently rented 30% below market. Given COVID and the recent rent control legislation, has anyone been able to effectively move tenants out once their leases are up? From what I gather if removing tenants for no-fault just cause (renovation) I should be factoring in paying them at minimum 1-month rent? The recent covid eviction ban should not apply here from what I gather? Really just looking for reassurance that we don't end up getting stuck unable to finance with FHA since we need to move into a unit, or a negative cash flowing property if we can't non-renew tenants to renovate the property. Would love to hear your thoughts! [link] [comments] |
| Selling a tenant occupied house Posted: 23 Sep 2020 05:56 PM PDT Hey everyone, Live in CO currently and a business opportunity came up that requires us to move. We have a primary residence and a rental. The rental is one house split into two units. We use a property management for the house. My question is what should I know when trying to sell the house with tenants? Both units are occupied and managed by the PM. If I sell, is the PM still managing through the end of the lease? Do the tenants move out? Thanks y'all! [link] [comments] |
| Can someone check me on a potential investment? Posted: 23 Sep 2020 11:44 AM PDT I am currently shopping around for a 3br / 2ba home in a military base town. The home at the top of my list is a $185k 3/2 ranch. My plan would be to use my VA loan to purchase, and allow two coworkers to rent the other two rooms. This would result in a ~$500 cash flow, and I would still not be in the negative if it were just me living in the home. I'm wondering if anyone can provide me with input on this deal. My plan would be to keep the cash generated from the home liquid Incase the market corrects itself sometime next year, & use it to purchase another investment property in that scenario. I feel as though the potential cash flow makes this worth purchasing now, as I plan on keeping the home for > 5 years. Edit: expected cash flow ~$400 [link] [comments] |
| What lenders are still offering a HELOC on paid-off residential investment properties? Posted: 23 Sep 2020 07:07 AM PDT I'm pretty far down the path of doing a cash-out refi on a paid-off residential investment property: SFH, market value around $220k. The lender is a guy I know and I said, "You know, it'd be so much easier if I could just get a HELOC instead of this." And he said yes, it would, and why can't I? The answer so far has been, I can't find a lender that'll do one. I called some bigger banks and they're not offering them. Does anyone know where I could go? I'm not looking for a loan shark: in order not to go with a cash-out refi, the rate would have to be sub-5%, preferably sub-4%. [link] [comments] |
| Delaware Statuary Trusts: What was your experience? Posted: 23 Sep 2020 10:43 AM PDT First, I am not interested in hearing from professionals looking for my business. I already have that. What I am interested in is learning how other investors did. 1) What was your experienced? Did you get the expected return? Was it a successor failure? 2) How did it work for you? Did anything unexpected happen? What surprised you? 3) What are the pitfalls to avoid? [link] [comments] |
| Posted: 23 Sep 2020 04:39 PM PDT Before I get started, I want to make it clear that I know this is a great "problem" to have and any way it goes, I know I'll still benefit greatly from it. I'm extremely grateful to be in this position even though it's difficult for me in other ways - mostly I want to make sure I'm making a good financial decision. I recently inherited some acres of land with a house that have been appraised in the millions (the value is in the land, not the house). I've been approached by several developers who are wanting to buy the land, all are offering more or less the same amount. The developers and people in real estate I've asked have said the market is hot in this area and now is a great time to sell it. Other people I've asked have said things in the economy are unstable right now with the coronavirus and upcoming election and that I should put off selling and let it raise in value because it could possibly be worth another million or even more in just a few years. I know it's impossible to tell the future, but I'd like to gather people's opinions on whether selling land right now is a good idea vs holding onto it. The only people I know to ask who have expert opinions in the area are the people who want to buy it from me, so I feel like I can't trust them to give me an honest answer (and it's not their job anyway). I plan to live in the house and can currently afford the property taxes and upkeep, but my industry has been struggling since the coronavirus and (much like everyone else in the US) I'm worried about the future - I'm worried about selling too soon and missing out on a lot of money if it ends up being more valuable in several years, or sitting on it too long and having to wait another 10+ years if the market collapses again, or selling too late and missing out on other opportunities in the meantime! I have no useful knowledge about the economy or real estate and my research only seems to make things more complicated the more I try to learn... So I'm sort of stuck not wanting to make a financial decision that turns out to be a bad choice in retrospect. What would all you real estate investors do if you were in my position? And how do you find people to ask for good impartial advice more locally? [link] [comments] |
| Posted: 23 Sep 2020 11:44 AM PDT So, I just closed on my new quad I mentioned previously. On the site survey, it's noted that the neighbor's porch is encroaching my property line by 5' 2". This is a duplex, so likely a rental property. What should I do? What can I do? Should I do anything? First time I've run into this situation, so looking for ideas. [link] [comments] |
| How best do I find potential investor buyers in the Littleton-Denver, CO area? Posted: 23 Sep 2020 11:45 AM PDT My dad is looking to sell his 1980 family home on a desirable lot in a desirable location in the VERY HOT Littleton, Colorado area. We've talked to a couple of real estate agents and investors that we know of through networking, and all have been very interested in the property. While we have experience remodeling, we're not really at a point where we personally think we have the time and capital available to manage a self-flip, so we think that the best avenue is to sell it as-is. It needs drywall touch-up, paint, all flooring, and the kitchens and baths are all un-updated since the 80s and in pretty rough shape. That being said, it's a 4br 2.5ba house on a large lot that backs up to a park. We have some idea of what it's worth fully fixed up, and also as-is. Because it's my dad's largest-value investment, we want to ensure he maximizes his value from it. We'd like to expose the opportunity to as many potential investor/flip buyers as we can, but would rather not use a Realtor as we're not exactly making use of their skills. We're not staging, we're not having open houses and marketing to uninformed purchasers. We can list it on a variety of FSBO type channels without a Realtor, but where would you go to attract the attention specifically of flip/invest buyers? We probably don't really WANT retail homeowner buyers because we want a no-contingencies, as-is simple sale, not a "but you need t fix these six things first" retail buyer. [link] [comments] |
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