Real Estate Investing: Is bigger pockets membership worth it? |
- Is bigger pockets membership worth it?
- [NJ] Anyone here own a warehouse? What are the pros and cons in your experience?
- Which job would you choose to help with Real Estate Investing, mortgage broker or, Realtor.
- Deducting Mortgage Interest on Cash-Out Refinance Mortgage?
- Opinions on foreclosure.homes.com?
- 65k a year income / 720 credit score / very low debt to income ratio. Where do I start? Am I even able to do anything with this income?
- Books on Residential Construction?
- FHA or conventional for house hack
- Highest ROI for Flip to Rent
- First Investment Property
- Should I list my house with an agent, or pay a flat fee MLS service and sell it myself?
- LLC questions...
- Invest in a Vacation Rental, or Keep on Keepin' On?
- No Response From Condo Builders (Toronto, Canada)
- Retail Tenant issues
- Can I afford to buy a new house and rent out my current house?
- Real estate investing worldwide
- A question about Homestyle loans.
- New Build Contract Value
- A question about house hacking
- Water damage but newer roof on a foreclosure.
- Cleveland market
- I thought this wasn’t a socialist country...
| Is bigger pockets membership worth it? Posted: 02 Sep 2020 08:36 PM PDT |
| [NJ] Anyone here own a warehouse? What are the pros and cons in your experience? Posted: 02 Sep 2020 08:23 AM PDT In my area a $1 million warehouse on sale grosses about $10k a month. Taxes are on the low side for NJ too, about $13k a year (for a million dollar property I say that's pretty good, I pay that on a $550,000 property). I also take parking into consideration. There's a demand for having a place to park trailers, boats, trucks etc and currently I get $225 a month for a boat on one of my properties. So a warehouse with extra parking spaces for that kind of rental adds up too. Just in parking and storage on my residential 4 family I get an extra $1000 a month! Imagine a commercial property! [link] [comments] |
| Which job would you choose to help with Real Estate Investing, mortgage broker or, Realtor. Posted: 02 Sep 2020 07:46 PM PDT Like the title says. I am currently looking at switching careers, I work in online marketing and sales. My company was purchased and now they're redoing our commission structure and will probably reduce my pay by about 30%. I currently bought my first rental property and want to keep expanding that while working in real estate. I am just wondering what is more beneficial, working in the mortgage industry or as a real estate agent? Of course the pay is one of the biggest parts and I will definitely do my due diligence there. [link] [comments] |
| Deducting Mortgage Interest on Cash-Out Refinance Mortgage? Posted: 02 Sep 2020 09:07 PM PDT Hi ya'll. If one were to take a cash-out refi, would the interest paid still be able to be deducted come tax time? I've been reading it's a "ONLY IF" the cash out refinance funds were used to put value back into a property. What if the cash-out funds were used to purchase a 2nd home or a investment property, could the interest still be deducted? Do you still get a 1098 for all that? Thanks [link] [comments] |
| Opinions on foreclosure.homes.com? Posted: 02 Sep 2020 08:47 PM PDT My wife found this website and was wondering if it was a legit resource for finding properties. There isn't much on the website regarding who they are and many of the deals seem too good to be true. Also you have to register to see any of the details regarding the properties. Has anyone used this service before? [link] [comments] |
| Posted: 02 Sep 2020 11:44 AM PDT For starters I live in NJ. I am self employed and last year made around 65k. This year I'm set to make around 75k. My monthly income is around 6k pre tax. My debt obligations are around 1800. Do you think I'd qualify for a conventional loan for investment property? In NJ were talking minimum 450k. I have around 100-150k for a down payment. Am I better off going the FHA route and doing owner occupied investment? Any help would be greatly appreciated. Thank you! [link] [comments] |
| Books on Residential Construction? Posted: 02 Sep 2020 08:31 AM PDT Can anyone recommend any solid books on home construction? Different contractors seem to have different approaches and not all of them are correct. I need a reference text that explains things like different ventilation methods, paint sheens, etc. [link] [comments] |
| FHA or conventional for house hack Posted: 02 Sep 2020 06:25 PM PDT Hi guys some background. 22 years old finishing up my college this spring. I want to buy a house as soon as possible since I got a job offer and know where I'll be going. I want to buy a house and rent out a room or 2. I keep reading and watching videos about FHA loans and people house hacking with them. But then I do calculations and it seems like my monthly payment would be more with the FHA loan. I have enough for down payment 35k in Fargo, and 0 debt. Thanks! [link] [comments] |
| Posted: 02 Sep 2020 04:56 PM PDT Trying to categorize different improvement of a pretty dingy ADU in order to turn it into a rental. Any thoughts what should be highest on my list? [link] [comments] |
| Posted: 02 Sep 2020 07:48 AM PDT I was just looking at multi-unit properties in my area out of curiosity, and I found one that I was interested in. I'm going to take a look at it on Friday just for kicks and giggles. Some background: I just graduated (22), make a pretty solid income (66k), and I have 9 months left in my current lease. I have good credit ~750 and a mix of different credit card histories and an auto loan that I have never been late for a payment. The property: 190k, 4 units, near a college town/next to a sorority house - pro: higher chance of occupancy rates due to demand next to a sorority house; con: higher turnover If I were interested to pursue this purchase, what would be the best option? I can't afford a 20% down payment, but I saw that you can do a 3.5% DP with FHA (but have to pay PMI as a result). What are some things I should know, your advice/mistakes from your first rental property, or anything else you can think of? I appreciate the help! I also ordered this book to read in the meantime if this specific property doesn't work out. That way I can learn more and save up for a larger down payment. https://www.amazon.com/gp/product/1419537253/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1 [link] [comments] |
| Should I list my house with an agent, or pay a flat fee MLS service and sell it myself? Posted: 02 Sep 2020 04:31 PM PDT I have a completely updated (no issues) townhouses that I want to sell in an extremely Hot city. I don't like the idea of giving 3% commission to listing agent... since they aren't going to do much. I've already fixed every single thing in the townhouse and it is in good working order and looks nice. I also already have professional photographs. Giving 3% to the buyers agent is fine, of course. [link] [comments] |
| Posted: 02 Sep 2020 03:36 PM PDT For wholesaling houses should I get a LLC? Don't really know how to go about it but just a quick question now that I have gotten a deal under my belt and a few more cooking [link] [comments] |
| Invest in a Vacation Rental, or Keep on Keepin' On? Posted: 02 Sep 2020 03:29 PM PDT Hi there! Love this forum, and finally dipping in my toes. Hoping to solicit some advice on whether to invest in real estate, wait, or scrap the idea. Thanks in advance for your help! Quick Background: My wife and I recently moved from NYC to Atlanta. We have a strong connection to the Georgia Coast, and have always dreamed of buying a vacation rental property for passive income. After a road trip from Savannah to Jacksonville, we found "our" property in a resort town. It's managed by a local couple that charges a 20% fee, but they do a great job of keeping this house full from Mar - Oct. More details on the property are below. But! It's never that easy, is it? We recently found out we're having a child next year, and are reconsidering. Looking ahead-- Narrowed it down to 3 options. Which would you choose?
------------------------------- Financials:
Vacation Property Details (Listed $510k):
Why Georgia Coast:
Thank you again! [link] [comments] |
| No Response From Condo Builders (Toronto, Canada) Posted: 02 Sep 2020 12:44 PM PDT Not sure what to do. Anyone know why they might not be answering my calls and neglecting my emails? For investors in Toronto: Do you guys know if Reserve Properties is still operating? Been trying to contact them for the past 2 weeks trying to ask about my preconstruction What should I do. [link] [comments] |
| Posted: 02 Sep 2020 11:56 AM PDT Hi all, Currently dealing with a restaurant tenant (in California) who Temporarily closed their store (to as they say save their lives from Corona) From April - July. Even though they are a 'essential business' they decided to close for that time. My saintly Vietnamese parents gave them half months rent deferred for May June and July with the opportunity to become rent forgiveness if they then were a tenant in good standing by the new year. The tenant has been complaining by the lack of business (obviously they were closed for four months) and paid only half of August which broke the prior agreement and is now requesting half rent until the corona virus shut down is over or till November. The tenant has become rude and disrespectful. Calling my parents greedy and not caring about their lives. Mentioning why should they pay for the inside space if no customers can sit their. My thoughts are the tenant 1. should never be rude and I'm not sure how to correct that and 2. They're blaming my parents for the crisis, and they should have not closed for four months which lost their clientele. 3. Even the tenants of my parents which still can't open because they aren't essential are less problematic than this restraunt. Any thoughts on the situation? Coronavirus is a touchy time for all and I'm not sure how to handle this situation. I'm sorry if I rambled and thanks for the help [link] [comments] |
| Can I afford to buy a new house and rent out my current house? Posted: 02 Sep 2020 11:34 AM PDT Can I afford to buy a house and rent out my current house? I've been in my current and first house for 6 years now. It's valued around $400k and I'd like to move and upgrade to around a $525k home value. Current mortgage is $1600 a month which is very manageable with dual income. New mortgage would probably be around $2100. I think my house would rent fairly quick as it's in a good neighborhood and near a good and sought after school. Can anyone explain how the finances would work on if I would be able to buy a new home and rent out my current? Edit: Thanks for those who replied. From what i can tell it won't be viable for me to rent out my house if I'm going to purchase. [link] [comments] |
| Real estate investing worldwide Posted: 02 Sep 2020 07:15 AM PDT I'm a US based investor. I'm relatively young and have been doing it for about 10 years. Have 10 properties. I'm looking to grow my portfolio and with the current pandemic I am seeing a lot of value in diversifying. Of course I can do this within the US quite easily, as different regions of our country have different risk factors. One of the things that is beginning to worry me more is our national debt. This all has me thinking that perhaps investing overseas would be worthwhile as a hedge to the US economy. My limited knowledge on the topic makes me think this would be a complete minefield. The obvious place to look would be in a growing economy which right now is mostly China and India. Neither of these are worthy of consideration. A place like Germany stands out with a fairly stable economy but my understanding is that real estate investing there looks very different to what it is in the US, and I have even more concerns about the future of the EU then I do the United States economy. Are there overseas markets that are open and friendly to US investment and visitors that offer stable returns? [link] [comments] |
| A question about Homestyle loans. Posted: 02 Sep 2020 10:39 AM PDT I am interested in using the Fannie Homestyle loan for an investment property. I know the property I choose has to be a single family because I will not be owner occupying. What I want to know is can I use the loan to renovate a SFH with a basement to create 2 separate short term rentals units as long as it is zoned single family and has one electric meter\gas line? I haven't been able to find that answer anywhere. [link] [comments] |
| Posted: 02 Sep 2020 06:52 AM PDT So we're building a home in a new development, and we were one of the first to sign for a lot in this new area. This was a few months ago, and since we signed our contract, the base price of the floor plan options have increased about 10%. So using round numbers, we're in contract to build a house for 250k, and someone else would now have to pay 275k to build that same exact house. Will that 25k difference be reflected in our appraisal / equity at closing? As in, will we have that 25k + our down payment as equity after we close? Or will the house appraise at the price we're paying? I feel like logically it should work like the former, but I can see how there not being any other houses that physically exist yet potentially screwing with this benefit. If this doesn't make sense please let me know and I'll edit the post! Thanks for your help! [link] [comments] |
| A question about house hacking Posted: 02 Sep 2020 10:34 AM PDT I have been reading about house hacking, in where you are able to circumvent down payment amounts, as well as better mortgage interest rates. I have a property I am considering, have enough for a 20% DP- and could, realistically move to this property for a year or so(it is larger, has an extra bedroom, in a good location etc) plus could keep an eye on the tenant(it's a duplex) What, realistically- would that benefit me? What percentage difference in my mortgage rate would that translate to? [link] [comments] |
| Water damage but newer roof on a foreclosure. Posted: 02 Sep 2020 09:46 AM PDT Recently had an offer accepted on a foreclosure. There are some obvious signs of water damage, but the roof looks good from the outside. I am looking for any insight/advice on how to deal with this. Will the inspector be able to tell if there is significant mold in the walls? It has been vacant for about 5 months. It has been winterized if that makes a difference, I am having the utilities activated and having it dewinterized for the inspection. More interesting things to note - the AC, furnace, water heater, windows, and roof all appear fairly new. The carpet has been taken out, only the underlaying tiles are there, in every room of the house besides the kitchen. It's like they replaced all the big things but left the water stained walls. This was/is a bit confusing to me, is that normal for foreclosures? I believe it is an older persons home who passed away, not a negligent owner. This gives me a little hope that most of the big issues have been fixed, and maybe it is just some old damage on the walls/ceilings that was never replaced. [link] [comments] |
| Posted: 02 Sep 2020 04:41 AM PDT It's a seller's market. Is anyone finding good deals on multi families ? They are going fast. [link] [comments] |
| I thought this wasn’t a socialist country... Posted: 02 Sep 2020 04:40 AM PDT |
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