Real Estate Investing: Do you pay off your rental properties asap or just keep your money to purchase the next rental? (Alberta, Canada) |
- Do you pay off your rental properties asap or just keep your money to purchase the next rental? (Alberta, Canada)
- Finding 10-15+ Unit Residential Property?
- Anyone renting on Outdoorsy?
- Property Management Companies or Manage and Market yourself?
- It's time to plan for my major and post-graduate study. Would a BS in Accounting and an MBA be an ideal choice for real estate investing?
- Selling the first rental property I purchased
- Loan options for developing an AirBnB property?
- Most residential real estate held privately?
- High Desert Investment
- Whats the best way to get started in real estate as a college student... possibly wholesaling?
- Foundation cracks. Go or no Go?
- Financing a cash offer on multifamily
- Best information source
- Subdivision Development
- Want to Buy a Property In A Different State
- Property Management Company - Columbus OH
- Books and articles on how to buy short sales and auction homes
- Property Tax Valuation way off from Appraisal Value
- [landlord florida] hello I’m planning on buying an investment home as well as a personal so I’ll be renting another room/s to a tenant
- All Margin Purchase - tear my idea apart
- Should I do a streamline refinance?
- Business Name
| Posted: 11 Oct 2020 12:47 PM PDT I'm in a predicament where I don't know if I want to start paying down my rental property faster or use that money for another down payment on a 2nd rental. (I pay a primary residence mortgage as well) The rental property has been occupied by a tenant for 8 years and still going strong. The rent fully covers the mortgage Housing here in Alberta has been abysmal the past 6 years where housing has actually dropped by 20-25% so paying if off early would actually make me lose money. The only reason why I'm thinking about paying it off in full is the fact I will have an extra $1500/month disposable income and won't have to stress about it being vacant and paying 2, 3 mortgages. Yes, rates are low and it's been on my mind since the beginning to leverage and accumulate as many properties as possible but that's a walking a very thin line. All I need is for 2 properties to go vacant before I run into some trouble (provided I have troubles finding a tenant) What have you done when in this position? Thanks [link] [comments] |
| Finding 10-15+ Unit Residential Property? Posted: 11 Oct 2020 06:47 PM PDT Like the title says Im looking for these larger properties once I sell a smaller one I have that has significant equity. Where do you even look for apartment building/complexes this size? Relator/Zillow show the smaller individual places and LoopNet is pretty sparse. [link] [comments] |
| Posted: 11 Oct 2020 10:26 PM PDT Not exactly Real Estate but this seems like the crowd that would. For those who don't know Outdoorsy is like Air Bnb but for RVs and travel trailers. I am strongly considering picking up a travel trailer if I can reasonably expect to break even on it while getting some personal use (4 or 5 weekends in the year) and renting the rest. For those who have experience with it please share your average expenses and earnings, advise for starting out and for reference what kind of equipment you own. Thanks! [link] [comments] |
| Property Management Companies or Manage and Market yourself? Posted: 11 Oct 2020 07:35 PM PDT Hi guys I'm new here so no one really knows me, but I was wondering what type of people are here. Are we primarily seasoned real estate investors? People just beginning? Or even real estate agents? I'm also really curious as to you guys tend to manage and market a property [link] [comments] |
| Posted: 11 Oct 2020 05:39 PM PDT At my business school, you really only declare and do your major curriculum for the final 4 semesters of your undergrad. I'm applying for major programs now and starting my major in the spring, and up until now I've always thought I wanted to major in Finance. But my finance courses are losing my interest and accounting has become a lot more engaging to me. Would it help to study accounting instead? Also, how requisite is it to get an MBA? Is my goal of eventually owning (20+ units) properties aligned with this type of education, or is there a better option? [link] [comments] |
| Selling the first rental property I purchased Posted: 11 Oct 2020 03:50 PM PDT I'm selling my first rental. I bought 5 years ago. I purchased for $80k and selling for $130k. It's a 2 unit and I get $1375 a month so the cash flow has been decent. I owe $50k left on the mortgage after taxes I should net about $65 after capitol gains. I sold fsbo so no realtor fees. I do own 3 other rentals (7 units). Because of Covid my main source of employment has cut my wages by 70% and possible more to come. My thoughts are to sit on the cash and don't 1031 it Incase I need the cash. Then reinvest later if/when things get back to normal. I wish there was a way to reinvest a portion of the cash into paying down the other rental mortgages and avoid taxes. Any other thought what to do with the income besides just sit on it? [link] [comments] |
| Loan options for developing an AirBnB property? Posted: 11 Oct 2020 04:08 PM PDT My wife and I are young (both 23), don't own a house yet, and have a pretty short supply of liquid assets at this point (probably around 30k). We're quite keen about the idea of building a business around short term rentals as another source of income. That said, with our small amount of liquid assets, we don't feel that we have too many good options. We recently stumbled on these Geodesic dome tents: https://fdomes.com These dome tents seem relatively cheap to construct and we think that all in, we could probably purchase land, construct, and furnish a very nice rental property for $100-150k. These sorts of properties rent for $150-250 a night with very good occupancy rates in the area we would be developing in. From my limited knowledge I think we could make an ROI in 1-2 years depending on a number of factors. If for whatever reason the AirBnB isn't the success that we hope it will be, our backup plan would be to make this property our primary residence. We could probably scrape together a 20% down payment for a loan in the next few months. My main question is, what kind of loans should we be looking at? I'm assuming since this is not intended to be our primary residence this would not qualify for a traditional mortgage. Beyond my main question, any thoughts or advice on this proposal are welcome. Please forgive our naivety, I don't really know where to start. [link] [comments] |
| Most residential real estate held privately? Posted: 11 Oct 2020 10:05 AM PDT Just curious what the most amount of doors you've seen held by one person in residential (SFH to fourplex) [link] [comments] |
| Posted: 11 Oct 2020 10:29 PM PDT I'm looking to buy an investment property and considering the high desert area in CA (Victorville, Apple Valley, Hesperia). What do you guys think? Edit: I prefer investing in SoCal because I want to manage the property myself. [link] [comments] |
| Whats the best way to get started in real estate as a college student... possibly wholesaling? Posted: 11 Oct 2020 08:35 PM PDT I'm a full time college student right now, but because of online classes, I have found that I have a lot of free time on my hands. I've taken a huge interest in real estate investing, and more specifically, real estate wholesaling recently, and it's something I genuinely want to pursue at some point in my life. So I'm wondering if I could actually dive into wholesaling as a 20 year old college student with limited capital, or would you recommend me going another direction? Obviously, I'm not expecting to be making multiple deals a week, making 6 figures from my apartment, but is it wishful thinking that I could possibly have a successful deal by the end of the school year? Would love to hear some input! And it would be greatly appreciated if I could be pointed towards some good resources to further educate myself on the topic!! [link] [comments] |
| Foundation cracks. Go or no Go? Posted: 11 Oct 2020 11:22 AM PDT I've found a property that I really like and would like to invest in it. The seller disclosure lists the following: "minor cracks in foundation, typical for age". The property is about 60 years old, so I'm not sure if that is typical or not for the age of that property. The property is in the midwest and I have a virtual tour setup for tomorrow. I haven't seem the cracks yet, but I wanted to see if you typically should pass on any property with a foundation flaw or not. The deal is good, but if I have to do foundation work, it's not worth it. Please advise. Thanks [link] [comments] |
| Financing a cash offer on multifamily Posted: 11 Oct 2020 07:59 PM PDT I ended up placing an offer on a multifamily property as a cash offer and 2 week close. While all my liquid assests can afford it, I'd want to use as little out of pocket as possible so I can perform repairs sooner and not be cash strapped.. What financing options would be best for me and allow me to close on time? Would hard money or a bridge loan be the best bets? I don't have many contacts with cash so private money isn't really an option.. [link] [comments] |
| Posted: 11 Oct 2020 12:20 PM PDT Hello! I am looking to invest in my first property in the next year and have been using the us census data and all the US government based statistics. I want to make sure my decisions are based on the best data and now I want to invest a little bit into better data. Any recommendations? Things like rental price per city (per sq foot), housing prices, yada yada. [link] [comments] |
| Posted: 11 Oct 2020 09:08 AM PDT Hoping this post finds you well, and my apology in advance for the long one. It's definitely an unusual story. I have been looking for land to build a house on for over two years with no luck, until last Monday. I was informed by a friend that he spoke with an elderly woman who would sell a 64 acre lot if it was what I wanted - it is not on the market. I looked and it is absolutely what I want, it is an unbelievable property for many, many reasons. It would sell in less than a day if this was public knowledge. The good news is that she's asking $6,000/acre less than market value. The bad news is that its over my budget by several hundred thousand. I could float it if I had to, but I had a better idea, which is to survey off 10 acres for myself then subdivide the rest. I mapped the property with GPS, did some math, made a ton of calls, talked to the bank and concluded that there massive potential for me to pay my house off with this venture. I have two homebuilders committed to 10 lots the day I close, if I can navigate the following... Before I get to my question, I should give some quick details. This property has county road access on all but one side. The boundary line for the city limits extends into the property by around 300 feet, and I would a estimate that it is roughly an acre. It is in a FAR zone (farm and residential). The city currently supplies all houses on both access roads with natural gas, internet, electricity, BUT only a 2" water line. These utilities extend past the city limit boundary. I am not sure if the 2" water line supplies all of the houses on the access roads, but it does supply some. There is also a fire hydrant that sits in the city limit section of the lot, which is fed only by said 2" water line. I was told, in confidence, by a city alderman that it was brought up a few years ago and they decided against running a 6" water main to the hydrant. I got the impression it was over finances. It would also make this venture unprofitable if I paid to run pipe from the nearest 6" water main over 1 mile away, but seems like it would be essential for a subdivision of 30+ families. My question: According to what I have read, a 6" water line is legally required to be ran to fire hydrants. I'm stumped on how to approach the city about this. I definitely do not want to do this if the city will not supply the pipe. But at the end of the day, the supply line to the hydrant is not legal. If I approach this the wrong way and make all of the neighboring residents aware, I envision significant pushback from the mayor/officials. Maybe not, but I would prefer to be cautious. There are several stages that have to be approved by the city planning commission, and they could really hurt me financiall if they had the desire to do so. It crossed my mind to approach the city mayor and planning commission, and attempt to argue for rezoning the property to be in the city limits. This would allow the city to tax for the infrastructure, and possibly get this water main corrected. That's the best I have come up with. Open to any and all suggestions. [link] [comments] |
| Want to Buy a Property In A Different State Posted: 11 Oct 2020 07:36 PM PDT I'm just starting out in the real estate investment game and want to purchase a rental property but in an area where I currently don't live (I live in California and want to purchase in Columbus, Ohio). Is this typically a bad idea? I'm very interested in the cheaper options they have there and figured it's a good way to start my career. Would love to hear thoughts on the matter! [link] [comments] |
| Property Management Company - Columbus OH Posted: 11 Oct 2020 07:59 AM PDT I am looking for a new property management company in Ohio, effective early next year. Any recommendations? Looking for one that does not take a week or more to reply. [link] [comments] |
| Books and articles on how to buy short sales and auction homes Posted: 11 Oct 2020 03:02 PM PDT Need info on how to buy short sales and auction homes. Suggested books and articles would be much appreciated. [link] [comments] |
| Property Tax Valuation way off from Appraisal Value Posted: 11 Oct 2020 04:35 PM PDT It seems like every year, my home valuation(property tax valuation) goes up by a maximum of 2% (in California) and this number is almost $30k above the usual appraisal value when I refinance. This means I'm paying a lot of extra money in property taxes while my home valuation isn't consistent. Is there something I can do to have my property taxes lowered based on a recent appraisal? [link] [comments] |
| Posted: 11 Oct 2020 03:31 PM PDT I have no idea how much I should charge for rent. They all have a pool/gym but I'm sure you need more info for how much I should charge. Can someone help me out? Unfortunately this subreddit doesn't allow pictures so I can't show you guys the three houses on Zelle but is their a way to find out how much rent would cost? I can find out rent for someone staying buy themselves (1100）so would it be 1/2 of that since I got a roommate/s [link] [comments] |
| All Margin Purchase - tear my idea apart Posted: 11 Oct 2020 03:17 PM PDT !00% margin purchase. 100% bad idea? Here are the quick numbers: asking price: 95,000. (hypo) purchase price = 85,000 Line of credit: 100,000 @ 3.5% variable interest only Taxes + HOA + insurance = $225 Monthly income: $700 pre-tax NOI after cap ex (-2%) and vacancy (-1/52) = $416 Here are the quick intangibles: Small 1 and1 in shaky neighborhood. Neighborhood has major upside potential pending major commercial/residential development nearby. Dirt moving now. My thoughts: It's my 2nd door, so accessible at the entry level. Cash on cash return is infinite because I can leverage the whole purchase price (or purchase + closing). Pre-tax cash flow (barely) black year 1. The true upside lands over time and after taxes. Paper loss will shelter w2 income. End game is a parlay after a 1031 exchange. Your thoughts? -2% capital expenses realistic? Update: market tested a mock, identical rental at $750/month and found interest, proved concept. Extra $50/month helps the numbers a bit [link] [comments] |
| Should I do a streamline refinance? Posted: 11 Oct 2020 06:19 AM PDT Just got a call from my mortgage company and they said I am eligible for a streamlined refinance of at least half a percent down from my current interest rate which is 3.625%. I personally don't think it's worth the closing costs to go for but what are the advantages of doing this? [link] [comments] |
| Posted: 11 Oct 2020 09:52 AM PDT |
| 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