Real Estate Investing: Can seller back out after signing? |
- Can seller back out after signing?
- What is the incentive for agent to give off market deals?
- Cash out refi to use to buy a new home in cash, is this a good idea?
- Buy a land and put modular home
- How Do You Weed Out INVESTOR Tire Kickers
- Buying office equipment
- Where to invest overseas?
- Factor in Houses w/Lots for ARV
- How do I make BRRRR work on this property?
- What is an “unwarrantable” hoa mean?
- What do you do with your earnings?
- What asset did you choose to invest in? Why?
- As a US citizen who has EU citizenship is there any practical way about investing or buying property in Portugal is a first time real estate investment?
- First time home owner
- Would it make sense to put down more example 20% vs leveraging for cash flow? (House hack)
- Development vs multifamily investing
- First time home buyer! - Multifamily investment BUY OR PASS
- Thoughts on property with numerous studio/1 bedroom units?
- Which is better from a renter’s perspective?
- Buying property adjacent to my property
- Cons to living across from developable land?
- I’m a young guy new to the wholesaling scene, how can I find a good mentor?
- Cutting it close on refinancing commercial loan - short term solutions?
- South Florida property manager
| Can seller back out after signing? Posted: 07 Oct 2020 04:33 PM PDT Context: my family is planning on buying a condo in Toronto, Canada (yippee hot market :O), and we came across something unfair. We put in a deal for a few grand lower than the seller's asking price, and surprisingly, our deal was accepted. The seller sent over the purchase agreement (signed), we signed it and sent it back. After 2 weeks of going under the radar, the seller's lawyer contacted us and is bringing up the idea of changing the price to a higher than the original asking price amount (which is of course much higher than our bid price as well). Of course, we're confident in our case, since the contract has been signed from both sides, but the seller's lawyer is bringing up weird reasons why the contract shouldn't go through. We're assuming the seller has another buyer with a higher price, and of course, we have nothing to worry about in this scenario as the contract is legally binding and all that (or am I missing something here?), except for one concern. What if, after the deal goes through, we find the space damaged somehow by the seller? Is there anything we can do now to prevent this? [link] [comments] |
| What is the incentive for agent to give off market deals? Posted: 07 Oct 2020 05:14 PM PDT I've been sending direct mail for about the last three months and have gotten minimal results Although some. I have a mentor who is an investor and after speaking with him he mentioned he gets the majority of his deals from agents through pocket listings. Off market deals from agents I believe. Seeing as his most successful lead generation is through agents, I want to network as much as humanly possible with as many agents as possible in hopes of getting some deals and/or pocket listings. I know the criteria of the deals I want and I'm not afraid of cold calling agents and discussing with them. The only part where I am confused is what is in it for the agent? If I'm not mistaken the deals my mentor does he will buy the property in cash so there is no need for an agent, and he himself is an agent and sells his own flips. When I'm calling agents I want to be able to have a clear idea of what is in it for them and how the relationship can be mutually beneficial. I know that they look for closers and legit investors which I can be because of the help I have. Can someone explain to me what I have to benefit the agent? And or what I should tell them to make them want to work with me? Thanks [link] [comments] |
| Cash out refi to use to buy a new home in cash, is this a good idea? Posted: 07 Oct 2020 08:49 AM PDT Current home value is ~750k with remaining principle of 288k on a 15 year, 3.125% with monthly payments of 2800 for PI I am planning on upgrading primary residence to one costing around 1.1m. I have 760k in capital to put towards the purchase. Original plan was straightforward - use the 760k as down payment, take a new 30 year loan. Then I thought that maybe I should straight refinance my current home first, which would lower our DTI to 1100 for PI. Then I realized that if I could cash-out refi, I could get about $312k out of it. Add that to the $760k capital and could buy a slightly cheaper house, 1.05m in cash (+closing). This would keep the mortgage on my current home, which would become a rental, which means that it would be tax advantaged for us because we currently take the standard deduction due to the $10000 SALT limit for a married couple. So this seems like a pretty good idea to me, I suppose other than the higher interest rates from refinancing? Any thoughts? Would this basically just be spinning wheels or would I get some benefit from it? [link] [comments] |
| Buy a land and put modular home Posted: 07 Oct 2020 08:50 PM PDT So I'm interested with an empty lot. The price is pretty good, but I was reading the cost of the building permit can be very expensive like $100/sqf. How people can make money with permit expenses that much. I also interested to put the modular energy efficient home on top of it. Anyone has experience with this? [link] [comments] |
| How Do You Weed Out INVESTOR Tire Kickers Posted: 07 Oct 2020 12:34 PM PDT When I've posted FSBO investment properties, the only people who have contacted me were individuals that I eventually realized had no intention of buying. They just seemed to like asking endless questions, including details they could look up themselves (but why not get me to waste my time on it instead). The few who made offers, made insane offers (like half the property's value, nothing down seller financing or a CFD at a fraction of the property's income). I've switched to selling on MLS, and at least the buyers aren't pretending. If they waste anyone's time, it's the agents. For those of you doing deals off-market as the SELLER, how do you vet your buyers and prevent people from wasting your time? [link] [comments] |
| Posted: 07 Oct 2020 10:40 PM PDT I have 1 rental property that I own and rent under an LLC. If I want to buy a desk or computer for my office and be able to write that off, do I need to purchase it with the LLC account ( to not pierce the veil)? What if I have multiple LLC's, surely I wouldn't split the purchase among all of them? What is the best way to deduct business expenses not related to 1 specific property? [link] [comments] |
| Posted: 07 Oct 2020 08:45 PM PDT I'm thinking to invest somewhere overseas maybe Dublin Ireland. I'm open with other countries as well. How complex the procedure for American to buy properties in overseas. [link] [comments] |
| Factor in Houses w/Lots for ARV Posted: 07 Oct 2020 04:35 PM PDT For houses that have lots. How do you factor that in to get the ARV. Do you add it to the SqF of the house or just leave it out the equation? [link] [comments] |
| How do I make BRRRR work on this property? Posted: 07 Oct 2020 11:09 PM PDT So I found a discounted property for sale for roughly $375k in a neighborhood where comps are $550-600k and rentometer.com puts the rent at $2700 median, $3000 75th percentile. After inspection, I'm planning to purchase the property with private cash, and then put probably $30-40k into it for rehab but the problem is that I can't seem to reliably make the BRRR math work for positive cash flow even though I'd most likely be able to get all my money back out of the deal with an ARV of $550k and then some. To be clear, I don't want a huge positive cash flow -- just anything over break-even after vacancy and repair costs (5% and 10% respectively). I'm using rates between 3.625 and 4.0% for the cash out refinance rate at 75% LTV, and I'm really scratching my head over this one. I think it only makes sense if I only improve it where the ARV is ... lower? It seems to be because of the 75% LTV refinance cash out, but wouldn't I just be able to finance less of the house? I've never done this before, so I apologize in advance for the stupid questions, but I really want this to work. I must say -- the most confusing part is that everything seems to hinge on the ARV which could vary somewhat wildly BTW, I'm using this BRRRR calculator to test numbers. Also, the weird thing is (and I suppose it's not so weird when you consider the interest rates for $375k vs <$200K), but if you put numbers in for a $100k property with $15k in rehab at $1200/mo, you get some great cash flow while leaving a minimal amount in. Unfortunately, the only deals like that around here are in mobile homes, which ... I don't think I want to start with. [link] [comments] |
| What is an “unwarrantable” hoa mean? Posted: 07 Oct 2020 07:01 PM PDT I saw this "Cash only but contact agent for a lender that has a product for a non-warrantable HOA." It's a high rise condo. [link] [comments] |
| What do you do with your earnings? Posted: 07 Oct 2020 12:00 PM PDT Hi all, Okay say you like your day job (for now) and you net 20-30k a year on your real estate investments. What do you do with that money? Would you buy more houses over time? Invest in stocks? But a small business? I am trying to come up with my 5-10 year plan and I am wondering what you all think and what your plan is. Thank you [link] [comments] |
| What asset did you choose to invest in? Why? Posted: 07 Oct 2020 11:42 AM PDT There's storage, industrial, medical, retail, hotel, SFH, etc. Is it just that you went with whatever type you thought would thrive the most in the future? Also, any advice you wish you knew earlier on in terms of networking with other RE investors and lenders and brokers? I've got the time and I've got the internet connection. I'm just not sure what questions I should be asking them. [link] [comments] |
| Posted: 07 Oct 2020 09:12 PM PDT Ideally live in Portugal full time as well, but not hard and strict if not financial the right move. [link] [comments] |
| Posted: 07 Oct 2020 02:51 PM PDT Hey, I'm from australia. The government is currently giving out a $55k first home builders grant to first time home owners I was wanting to get some advice from you smart people about what you would do in my situation. I would like to start trying the cash flow rental strategy but I want to take advantage of the grant money. Should I build a new house and just look to building a house that currently fits the high demand rent market? Even though the house wouldn't build much equity? Or should I discard the free money and just throw myself into cash flow rentals from day 1? Thanks I'm advance for any help :) [link] [comments] |
| Would it make sense to put down more example 20% vs leveraging for cash flow? (House hack) Posted: 07 Oct 2020 02:05 PM PDT I see many markets where numbers dont work and you need a off market deal to cash flow. I often check the MLS and redfin but not sure if i should keep looking there or not. Would putting down bigger down payment % makes it worth it to cash flow vs putting low down payment amount? [link] [comments] |
| Development vs multifamily investing Posted: 07 Oct 2020 07:34 PM PDT Is real estate development inherently riskier than investing in multifamily units? I have spoken with a few developers who say they have endured massive losses. I haven't heard as many stories with multifamily investors. Obviously, this is all anecdotal so I can't draw any conclusions. Does anyone have more insight into the investment risk and return pros/cons of development versus multifamily? Thank you. [link] [comments] |
| First time home buyer! - Multifamily investment BUY OR PASS Posted: 07 Oct 2020 07:15 PM PDT I am making an offer tomorrow for a multifamily house (3family) price 265k. Current tenants pay 1100 and 900. That 1100 apartment could easily be 1400-1500. I will be living in the 3rd unit. Taxes will be around 3800. Have about 18000 in liquid cash. I am a first time home buyer at 25 years old. Does this sound like a good deal? Lmk thanks! [link] [comments] |
| Thoughts on property with numerous studio/1 bedroom units? Posted: 07 Oct 2020 01:03 PM PDT I'm shopping around for a property in the Kansas City area and my Realtor sent me a multi-family building that is mostly studios / 1 bedrooms in a nice area. I'm conflicted though because although the area is good I've always been under the impression studio and 1BR tenants are never long-term and I'll spend more than I want to on vacancy unless I keep rent below market prices. On top of this, the units all need some cosmetic updates like new vinyl flooring, appliances, light fixtures, paint, etc... Does anyone have experience renting out studios / 1BR units or have any thoughts on the matter at hand? The numbers make it a 7 CAP but if I can renovate and charge more rent it could wind up to be more like a 12 CAP [link] [comments] |
| Which is better from a renter’s perspective? Posted: 07 Oct 2020 06:19 PM PDT Side by side duplex vs stacked? Obviously this could carry over into profits for the landlord but I'd like to know the satisfaction rate of tenants under both scenarios as well as challenges. If I built a stacked unit with a 'flat' roof making it the balcony or 'private yard' for the upstairs tenant while the lower tenant has the actual yard minus designated common area for parking, would that be a desirable setup? Or would a side by side be better? [link] [comments] |
| Buying property adjacent to my property Posted: 07 Oct 2020 12:20 PM PDT Some family members and I currently own a commercial property and the property next door is for sale. They are both in a great area and our property has appreciated tremendously because of e-commerce, to the point that it should fetch about 1.8x the current rent when we re-lease it in three years. The cap rate on the new property next door is about 5%, but the cash flow isn't very good. The idea is that upon our current lease ending, we would rent out the two properties together to a larger outfit. I'm able to analyze the investment on its own, but how do I go about evaluating the value it will add to our original property when leased together? I should also mention that the new property can be developed (current FAR 0.22, allowable FAR 2.0), and has valuable road frontage and parking that will allow the original building to be more effectively used for distribution or customer parking. I understand that there's definitely value added, but I'm unsure of how to put a number on it. [link] [comments] |
| Cons to living across from developable land? Posted: 07 Oct 2020 07:25 AM PDT My partner and I are looking to buy a house primarily as a principle residence but also an investment. The neighborhood we're looking at is about 10 mins to the downtown core of our city and it's starting to be developed close by. Some houses we like have come on the market but they are right across the street from houses that have been zoned townhouses. My initial thoughts are that this devalues the houses across from the development unless at some point the land is also rezoned and can be developed as well. I'm trying to weigh the pros and cons of buying a single family home across from a potential development site - Tell me if I'm missing anything: Cons: - could potentially be living across from a construction site for a year or so - townhouses built across from houses makes the area feel less 'neighborhoody' - townhouses will bring in more density and therefore more traffic/ harder to find parking on streets etc Pros: - having land developed close by could increase the number of shops/restaurants and increase the value of the land - potential for the house to also be rezoned and could sell to developers for more money than we bought it for. [link] [comments] |
| I’m a young guy new to the wholesaling scene, how can I find a good mentor? Posted: 07 Oct 2020 05:52 PM PDT I know some people look down on wholesaling real estate, but at my age (19) and lack of capital, it's my most possible option to get started. I know about 80% of the details, just looking for an experienced and successful mentor to team up with as I get my side hustle on (hopefully turning into full time in real estate as I progress). I understand the work it takes and I'm not trying to be the wholesaler that makes other people's situations worse for my own profit, just trying to get on my feet as I'm on my own trying to work through/pay for my college. [link] [comments] |
| Cutting it close on refinancing commercial loan - short term solutions? Posted: 07 Oct 2020 10:16 AM PDT Have a 500K loan out on a multi family property (<10 units). Building is worth ~$1.5M easily. No other loans on the property. My current commercial loan is coming due in the very near future (1 wk!!). I've been working on a refinance with a different bank for a much better rate, but we're cutting it very close to when my other loan is due. New lender says he can make it work but I need to have a backup plan. The existing loan has an auto-renew option, but if I auto renew then I am subject to 5% prepayment penalty in the 1st year (4%, 3%, 2%, 1% in each following year). The rate difference is about 200bps so I'm REALLY not trying to renew with the existing bank. I don't have enough cash to pay off the existing mortgage in full. What are my options here? Was thinking I could do a home equity loan, or HELOC, or maybe hard money? private loan (where should I look)? I can probably cover half of the loan in cash, so would only need to borrow about 250K in the short term. Any help or ideas would be greatly appreciated! Thank you! [link] [comments] |
| South Florida property manager Posted: 07 Oct 2020 03:50 PM PDT Any recommendations for a property manager in palm beach county? [link] [comments] |
| You are subscribed to email updates from Real Estate Investing. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment