Real Estate Investing: Landlord Files Suit Against CDC |
- Landlord Files Suit Against CDC
- Feds keep rates low till 2023, meand prices are going to keep going up?
- Tips on Finding Growth Neighborhoods
- Looking for thoughts on a pretty basic idea on a split investment
- What is the "physical location" state on real estate license portability really means?
- Financing options for coop purchases
- Inbound Phone Calls - Technology
- Closing pushback
- How much safety net should I have?
- Want to get into real estate rental property
- Thoughts on the neighborhood by the United Center in Chicago?
- How much more value does a Contemporary modern pre-fab home add compared to a traditional stick built home when building brand new?
- Thoughts on the San Diego market?
- Can i use a residential lot simply for storage?
- RealEstate Investing Internationally
- First Time Buyer - I found a property I like and want some feedback
- Payoff Letter
- How can I begin investing without a lot of cash?
- How can I best conduct a part-time real estate agent career to later be successful in investing?
- Those of you who are non US residents and rented out housing via a US LLC, how did you deal with banking?
- Any Fargo, ND investors here able to comment on the livability and promise of the area?
- Job Transitioning to 100% Fully Remote. Buy in my current state, or the one I want to live in?
| Landlord Files Suit Against CDC Posted: 16 Sep 2020 06:06 PM PDT This is the first suit I am aware of against the CDC directly. Although the Plaintiff is in Virginia the case was filed in Georgia where the CDC is based and may ultimately be tried in Florida. The judges likely to oversee the case were originally placed by Florida Governor Ron DeSantis before being elevated to their present positions by Trump. The suit alleges an assault upon the core values of the Constitution. [link] [comments] |
| Feds keep rates low till 2023, meand prices are going to keep going up? Posted: 16 Sep 2020 11:31 AM PDT Does this mean alot of money in savings account is losing purchasing power and prices for properties will keep going up? [link] [comments] |
| Tips on Finding Growth Neighborhoods Posted: 16 Sep 2020 05:52 PM PDT Every real estate investor wants to find the next growth neighborhood. The sweet spot is getting in at a good basis in a neighborhood that has already seen some positive movement but it still relatively undiscovered. Easier said than done. But there are some metrics that can help you spot growth before it happens. My personal favorite is "Value Ratio". This metric takes the average home value in an area and divides it by the average household income. The higher the Value Ratio, the more "fully baked" the real estate market tends to be. The lower the Value Ratio, the more affordable the neighborhood is relative to incomes and the more room for growth. Do you guys have any metrics that you look at as a sign of growth and gentrification? https://reventureconsulting.com/finding-the-unicorn-how-to-discover-the-next-growth-neighborhood/ [link] [comments] |
| Looking for thoughts on a pretty basic idea on a split investment Posted: 16 Sep 2020 10:45 PM PDT Looking to potentially go in on a property, the idea is that equity is divided by amount spent on the property in aggregate total. All purchases will be totaled up from tax to repair to furniture and, of course, mortgage. In the chase to use this for a rental property, the idea is that profits are divided based on who has what percentage of the equity. So if one person falls behind and the split becomes 40/40/20, then if it's 1000 dollars rent each person will get 400, 400, and 200 respectively. When the house sells the split will work the same way. Any foreseeable issues with just this idea of equity share? [link] [comments] |
| What is the "physical location" state on real estate license portability really means? Posted: 16 Sep 2020 10:02 PM PDT Just trying to use my brother in law (a New Mexico agent) to write an offer for me for a HUD Home Store listing in South Carolina. I have investigated everything so it is just filling forms online. Here is my question, SC is the "physical location" state in real estate license portability. Does this mean my brother in law will still get commission (if close) if he just write the offer for me at this home in New Mexico? He does not need SC license to do this one deal correct? Would HUD system block him submit offers? [link] [comments] |
| Financing options for coop purchases Posted: 16 Sep 2020 09:11 PM PDT Work with a PE real estate firm. Have the opportunity to purchase units at 60% market value (perk of the job). DTI probably too high for traditional mortgage. Still have FHA available but know it's tough with coops on sell side (we control all seats on the board and will for duration of project). We plan to reno the entire building over 2-3 years and lift prices. I'd probably sell at the tail end or a couple years after. What are my financing options? 85k/year income $2200/mo revolving accounts (student loans + car) $500/mo health ins. $1200/mo taxes $500 tolls, gas, insurance, parking Currently living at my parents for free otherwise. 1 charge off, don't carry any balances on my cards ($10,000 available credit) Credit: 690 Contractor of the firm (1099'd) Want to reno + live in a unit (preferably combine 2) because it'll be convenient + good opportunity, and great starter home Sell at tail of project or rent out depending on market conditions Will bring in a roommate. Being we are the board owning 100% of shares, we set all the terms/house rules to give me any right I want regarding reno, sale, sublet, etc. present and future. Sale price for me: 70k per unit Market value as-is: 120k per unit (established building sales record, already modeled/underwritten/financed on project scale) Market value Reno'd: 180k per unit Maintenance: $800/mo per unit (all utilities, taxes, reserves, etc) Can get my reno done at cost of material Location: NYC outer borough Would a lender be more inclined if I can get a good deal way under market value? They'd have built in equity from day 1. Should I look into hard money lenders? FHA? Conventional? Balloon? Co-signers? Ask for owner financing from my boss (least favorite option, he's doing me a favor already) Wouldn't want to put down more than 20k per, wish I could pay cash but not feasible to do so alone. As market rentals they're positive cash flowing on a traditional 30 year mortgage as is. Would appreciate some direction before I start dinging my credit with inquiries. Thanks! [link] [comments] |
| Inbound Phone Calls - Technology Posted: 16 Sep 2020 09:25 AM PDT Does anyone have any experience (or good luck) with fielding phone calls for your first rental units? I was thinking about getting a second line set up for my new company - routed to my mobile phone. May be setting something up with a vendor eVoice - in case I miss the call, it can catch the voicemail and have them convert it it to text. My situation is that I still work full time, and I may not be able to take call at any given moment.. Any pointers from this community on this? [link] [comments] |
| Posted: 16 Sep 2020 02:03 PM PDT Hi all. I was supposed to close on my first rental property earlier this month but the seller requested a rentback to resolve some credit issues and find a new house. Not wanting to rent to someone I didn't choose right now, I offered to push back closing one month. That month has passed and they've requested pushing closing back again despite the credit issue being resolved. We have a signed agreement to settle at the end of the month. What's my best course of action to make sure we close on time with minimal fanfare? Thanks! [link] [comments] |
| How much safety net should I have? Posted: 16 Sep 2020 03:43 PM PDT I'm about to own 2 million in real estate. It's mostly residential duplex properties with traditional financing. How much of a cash safety net should I have set aside? Properties are relatively low maintenance. Right now I have roughly $50k set aside which breaks down into $20k for capex, $20k for maintenance, and $10k for vacancy. Each month I plan to set aside 25% of the rental income to add to these categories (capex, maintenance, and vacancy). Does this make sense to do? [link] [comments] |
| Want to get into real estate rental property Posted: 16 Sep 2020 11:57 AM PDT have about 25K saved up and was planning to get a nice sport car, but with Covid, it made me realize that I need to have a more secure asset to help in 4 years. advice? IM a 25 year old. Good credit, but still a student? More about the cosigner info! [link] [comments] |
| Thoughts on the neighborhood by the United Center in Chicago? Posted: 16 Sep 2020 05:17 PM PDT Hey everyone, I recently went to go see a property west of the United center but East of western, and I was surprised by the way the neighborhood looked. I haven't been here in years, but there's a lot of new development in the area and even looks like there were 4 new 10+ unit complexes being built by the property I saw. Is this the next "up and coming" area in the city? It's prices are affordable, buildings are newer, easy access to CTA... Personally I wouldn't even mind living there. Let me know your thoughts! [link] [comments] |
| Posted: 16 Sep 2020 05:03 PM PDT To keep it simple let's say both are exactly the same size and around the same cost to build. As an example these 2 homes in the picture. Pic Link: https://imgur.com/a/1R2nHJI [link] [comments] |
| Thoughts on the San Diego market? Posted: 16 Sep 2020 04:21 PM PDT Hey everyone i'm relatively new here. I'm currently in the area and i was approved for a VA loan up to roughly $500,000. Originally I was approved for more but i dint want to go nuts on the home price. I plan to live in the property myself with my girlfriend for at least 2-3 years with the possibility of house hacking it. I also plan to rent it out when/if i move out of the property. I'm looking for homes with at least 2 bed and possibly 2 bath. Everything I have seen thus far that meets that criteria have been mainly condos which many on this sub are not fond of (for logical reasons). I'm primarily looking in the northern part of San Diego past Interstate 8 with preference to La Jolla and Mira Mesa. As I said earlier everything I have seen so far have been condos and some have been nice but i'm still pretty iffy on the downsides to condo ownership. I'm also not confident in the market as buying into a market that has been going up and up. Id rather not be caught underwater in the middle of a downturn like what happened to my folks in 2008. I keep up with a bunch of investing channels on YouTube such as Graham Stephan, Meet Kevin, Kwak Brothers, any many others. I've seen the opinion fall in the mildly confident to hold back and wait so far. I'm looking for anyone's opinion on the San Diego area. Better to rent 1 more year and wait and see? Should I go in soon? Appreciate the input! [link] [comments] |
| Can i use a residential lot simply for storage? Posted: 16 Sep 2020 02:05 PM PDT Im getting different responses from google searching. Long story short i run a small business and am currently using my parents backyard for storage purposes (A small shed for product). Recently they were approached by a neighbor who is selling his land next door. He is giving them a good deal and the way i see it is after i am done i can just transfer the land over to them. Lets say i purchase the land can i simply put a shed there for storage? Are there permits required for storage sheds? [link] [comments] |
| RealEstate Investing Internationally Posted: 16 Sep 2020 05:02 AM PDT Hey everyone, just wanted to get peoples thoughts on International Real Estate Investment. Not in North America or Europe. One point that was brought up to me was economic uncertainty and hyperinflation of currency would be an issue, but I thought about it and nonetheless, wouldn't real estate values also go up with hyperinflation? I would like to get more thoughts on this from your perspective in comparison to RE investing within North America. [link] [comments] |
| First Time Buyer - I found a property I like and want some feedback Posted: 16 Sep 2020 09:39 AM PDT I'm a soon to be 25 y/o looking to buy their first property. I have a job that pays around 95k per year base plus a bonus currently. Have around 45k in cash, paying a tax bill from some crypto that I just found out was taxable from a while ago when I was an idiot in college for around 15-20k. Have other assets in equity accounts. I figure I could spend around 20k and have 5k in cash and feel comfortable given my income. My mother and I are looking to go in on a multi-unit together to build cash flow, each splitting the down payment and future expenses. I've been the one tasked with researching and contacting agents since it was my idea to begin with. After a month or two, I've found a few options in a midwestern college town of around 10-15k students undergrad and a relatively stable year-round townie population of 21,000 in a suburban area of a major metropolitan area of a few million. Option 1: Listing price $258,000 monthly rent $2715 from 3 units (2/3 occupied) one unit redone this summer, one block from campus. Option 2: Listing price $179,000 monthly rent $1600 from 2 units (just redone, no tenants), 20 minute walk to campus. 10 to downtown area Option 3: Listing price $189,000 monthly rent $1800 from 2 units (half occupied) fairly recently redone, 20 minute walk to campus. 10 to downtown area Thoughts? [link] [comments] |
| Posted: 16 Sep 2020 07:02 AM PDT The seller I'm dealing with at the moment took ownership of her property subject to the existing mortgage of $26,000.00 from the owner before her back in 1999 ( the remaining balance at the time was $13,000.00). The seller says that she's paid it completely off, but I don't see a document anywhere in the county stating that the lien has been satisfied. I assume that she's made good on the payments since the lender would've foreclosed on the property, but I never want to be 100% on an assumption. The title company wants a payoff letter from the lender. How would I go about getting this? Since it's a subject to, should I try to contact the note holder, or should I contact the seller? [link] [comments] |
| How can I begin investing without a lot of cash? Posted: 16 Sep 2020 08:50 AM PDT How do you go about investing without a lot of cash to start? Can I join a group an invest what I can afford? If anyone has some familiarity with this and can drop me some wisdom here I would love it. [link] [comments] |
| How can I best conduct a part-time real estate agent career to later be successful in investing? Posted: 16 Sep 2020 10:46 AM PDT Thanks in advance for any advice! My goal is to eventually participate in real estate investing (probably as a small-time landlord, but open to other opportunities) as a part of a diversified stream of incomes. I know that becoming an agent isn't necessary to become a real estate investor; that said, I have some downtime before I start a new position later this year, so I enrolled in a salespersons preparation course. I figure that if I can learn some more about real estate and act as my own agent when I buy my personal home (~1 year timeline), I'm fine with doing it for the experience, even if the ROI isn't very high in the short-term. In the long-term, I think I would like to pursue becoming a broker to save commissions and time on rental properties, etc. I love my primary career. I don't see myself wanting to leave it anytime soon, so that leaves all real estate endeavors as part-time/side hustle territory for me (though it would be great to have something to scale up to full-time if anything goes wrong with my day job). I do understand that being a part-time agent working directly with home buyers/sellers isn't ideal, as I can't guarantee availability on their schedule. I'm currently located in Massachusetts. What would be the best way for me to: 1) Earn enough money on the side to, at least, cover the expenses associated with keeping my license active while I put in my 3 years to qualify as a broker? (If I can earn enough to start stashing away down payments for later investing, so much the better!) 2) Learn more about real estate? 3) Build a network that would facilitate future real estate investing? Is there anything to consider that I'm probably not thinking about? [link] [comments] |
| Posted: 16 Sep 2020 10:11 AM PDT Covid means no travel to US right now. KYC means banks won't open an account remotely. A foreign bank account would trigger reporting requirement. [link] [comments] |
| Any Fargo, ND investors here able to comment on the livability and promise of the area? Posted: 16 Sep 2020 05:42 AM PDT From economic data, Fargo seems to have a growing stability in the face of my typical worry about an oil/gas-dependent boom and bust economy. Single family homes seem affordable compared to anyone living in large cities, harsh climate (for now...) means a low likelihood that significant homeless populations or willing urban tent campers will gather. Home ownership had been trending downwards over the last decade, but that may be due in part to positive net migration to the area? Is anyone who currently invests in the area willing to share/postulate/gesticulate on the Fargo-Moorhead area? [link] [comments] |
| Job Transitioning to 100% Fully Remote. Buy in my current state, or the one I want to live in? Posted: 16 Sep 2020 09:12 AM PDT Just as the title says, My work has become fully 100% remote work, we can work from anywhere in the country. I was saving up money this year to buy a duplex while I live in one side and rent out the other to cut down on expenses. Now I'm at a bit of a crossroads. My lease ends this month, my plan was to move to my parents place while I continue to look at properties and save up even more. Now that we have been giving 100% remote work going into next year, I don't have to rush to buy a house by January to work in the city my company is HQ'd in. So the options I am thinking: A) Buy Duplex in current state anyway, once saved up move to new state. I will rent for 6 months to get a feel for the area, then purchase another duplex. B) Stay with parents next 6 months ( we have to hit 18 months at company for approval, currently at 12 months in great standing with the company), then move to new state where I will rent again for a short time period before purchasing a duplex. Thanks for any input! [link] [comments] |
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