Real Estate Investing: Existing cell tower lease of a 3.5 acre property pays 75% of property tax. Could this be worthwhile for a long term investment if the price is cheap enough? |
- Existing cell tower lease of a 3.5 acre property pays 75% of property tax. Could this be worthwhile for a long term investment if the price is cheap enough?
- 120k cash, pre-approved for 450k multi fam, own 0 properties. Also, currently renting at a luxury new construction for $2,300/month. What would you do?
- SFH or MFH? What do you invest in? Why?
- Selling my house and moving from CA to Tennessee to buy a few houses and rent them out. What all should I be aware of for something like this?
- California. Buy $988k home. $741k mortgage. 1 year later, $1.667M new mortgage and tear down home to build new. How does that work?
- Are low cost legal sites like LegalZoom good enough to use?
- Wants to Learn about real estate investing
- Advice needed. ANYTHING helps!!
- Free Property area home valuation increase ??
- What are the chances.
- Setting Up A Real Estate Investco For Family
- Replace tile or something else?
- Thoughts on home purchase
- Anyone rented out storage space on their primary residence?
- Can you be forced to sell?
- Euclid, OH
- Inheriting Tenants In Violation of Lease Agreement
- Awesome Long-Term Deal .. Terrible Short-Term Deal
- Buying a duplex out of state
- Great deal refinancing through better.com?
- Higher Home prices making cash flow difficult
- Calling Chicago Investors
- Questions about REIT Structures
- 1500 acres in rural south America... Where do I start?
- Any small-scale developers in SoCal in here?
| Posted: 26 Oct 2020 03:42 PM PDT They are charging 10k for the land. Property taxes would be around $20 a month. This would be a cash purchase. Anyone have experience negotiating these kinds of leases? Is it worth it just to buy and hold? I don't even know what kinds of questions to ask the realtor tbh. [link] [comments] |
| Posted: 26 Oct 2020 07:48 PM PDT New to the game, and would love some advice from the more experienced folks, feeling this could be the right place for that. I want to move all my cash to real estate, and 20% down to avoid PMI made the most sense to me. I just learned that you can buy an investment property right after opening an FHA with 3% down, which should be around 20k with closing costs included. I'd have another 100k left to put on 20% down on another around 400k multifam. So the idea would be to have two multi-families, one on an FHA, which I would live on, one on a conventional, and rented out. The only issue is that I currently live in a $2,300 luxury rental, which I split with two roommates, so I only pay $800, and we like this place a lot! All multifams on the 400k price range in my area (Hudson County, next to NYC) are fixer uppers, or in not good conditions unless is like 2beds first floor, 1 bed on top, which wouldn't really cashflow well. Would you go for the two multi-families and downgrade lifestyle? Or just stay renting the luxury place, and get one nicer, bigger multifam instead of 2? Or would you do something different? Would love to see your inputs! As far as income, I'm a freelancer/self employed, so nothing specific monthly, but average yearly for my past two years is about 70k, which translates to about 4 to 5k a month. [link] [comments] |
| SFH or MFH? What do you invest in? Why? Posted: 26 Oct 2020 08:40 AM PDT Based on threads I've participated in there seems to be a good mixture of people here who invest across a variety of asset classes. To that end, I'd like to start a discussion on (a) what you invest in and (b) why you have chosen to invest in that asset class, and (c) where perhaps you're looking to end up over time. Could be a good place to launch into deeper discussions. As a start:
[link] [comments] |
| Posted: 26 Oct 2020 02:01 PM PDT I bought my house 5 years ago here in Cali with cash after selling a business I ran in my teens and early 20's. I never expected the price of it to go up so rapidly, but here I am years later and it's worth around 350k on the low end now. The market is absolutely nuts. My neighbor just sold his for 400k. He listed it for 375k. It sold in a week after he basically converted it into an auction. I want in on this. I have family in Tennessee who have been begging me to move over there for years. I've wanted to for the longest time since taxes here on this property are getting, frankly, really stupid. I also don't need anywhere near this much space, and have 0 interest in starting a family any time soon (married to my online job and all that), so I want something much smaller and more cozy with mountains and forests all around. I couldn't care less about restaurants, bars, clubs, beers with funny names, downtown culture, or whatever politics. I think this is finally a good excuse to just do it. The area I'm looking at has a lot of cheaper houses around the 100k range at 1000 sq ft. Absolutely perfect for me. My current one is 1800 sq ft and I only use my laundry room upstairs, the rest up there is just empty. Unfortunately the market is also ridiculous over there too, so finding a house I want to live in long-term has been challenging. So I'm considering this plan. Move over there and scoop up one of the more city oriented houses to live in while scouting for a more long-term house in the nearby mountains/forests, then renting out the one in the city. Maybe even picking up another rental so I can just chill and live off rental income while I go hike the appalchian trail. Something I've always wanted to do. How many reasons would this be a bad idea? I know absolutely nothing about renting and real estate investing other than throwing cash at my current house as a sort of pseudo bank account early on. [link] [comments] |
| Posted: 26 Oct 2020 10:53 PM PDT Lenders or anyone, help me understand how this funding works. This is something maybe I'd like to do too. married couple bought $988k house in my neighborhood in summer 2019. Took out a $741k mortgage on it. they got blueprints to tear down and build new 3800sf house, and broke ground this month. in sept 2020, they got another loan for $1.67M standard adj mortgage, presumably to cover the cost of construction and to pay off the mortgage from last year. This is not a construction loan as far as I can tell from the actual document. However, the loan terms state the original property can't be destroyed. https://i.imgur.com/hkRwl8z.png but they tore it down anyway. Based on public records, this couple owns another condo in LA that is worth $1.1M, which does not have any recent liens on it. How can they build this new house with this kind of funding? I remember ages ago when my parents thought about tearing down a house, the bank wouldn't let them because there was an outstanding mortgage on it. [link] [comments] |
| Are low cost legal sites like LegalZoom good enough to use? Posted: 26 Oct 2020 12:14 PM PDT I would like a partnership agreement written for a purchase. The contract should state which percent of the sale price each partner gets along with some other terms. I don't know if this is considered a complex agreement or pretty standard fare for real estate contracts, I assume it's non-standard due to being a partnership and maybe involving a corporation. Do you guys feel confident in legalzoom and similar sites? Or do you spend extra for a local lawyer? [link] [comments] |
| Wants to Learn about real estate investing Posted: 27 Oct 2020 12:07 AM PDT I literally know nothing about real estate Could google it but I wanted to see what Redditors might say or what knowledge bomb they have [link] [comments] |
| Advice needed. ANYTHING helps!! Posted: 26 Oct 2020 11:52 PM PDT Hey guys here is my backstory. I am 17. My family has never really had much. I have been dating my girlfriend for over a year now and her family is quite the opposite. They all drive nice fancy cars(2020 Lambo), huge houses etc. I could easily take over my family business and keep living the lifestyle my parents do, which don't get me wrong isn't the worse, but is not the level of success I want to reach in my life. I was saying before about my girlfriends family because that is how I want to be and how I want to raise my kids. I want to be financially free. I have watch a bit of YouTube, a guy named Chandler David Smith to be exact, on real estate and realized this could be my path. Now that we got that out of the way I wanted to know what would be the best idea for me? I have about $5,000 saved up and my dad could throw me some if need be. So I guess my question is, where do I start? Any courses I should actually consider? Any YouTube channels I should just binge? Just any advice would help. I am in no type of rush to dive in, I could live with my parents for 5 more years and be perfectly fine. I have heard duplexes are an amazing first investment, is this true? And if so, what type of loan would I use? FHA? I have no clue but 100% ready to learn about it. Any sources would greatly be appreciated. Thank you for any advice given. [link] [comments] |
| Free Property area home valuation increase ?? Posted: 26 Oct 2020 07:36 PM PDT Anyone know a free site you can type a zip code or town and maybe a range of sold homes say 50-100k or 100-250k and find average increase in percentage of all those properties sold on average. [link] [comments] |
| Posted: 26 Oct 2020 11:17 PM PDT Currently AD military i invested in a town house 87K in florida lived in it for 3 year then rented it out 1K month its currently worth a solid 134K. I got a bit of consumer debt 30K outside the house and mid 600 credit score. I'm think about investing in either a 4 plex 235K fully occupied w/tenant but I'm also looking at a 24 unit rental property 92% occupied going for 1.2M. I know the million dollar property is pricey but if I'm going to swing i wanna swing for the fence but don't wanna commit financial suicide. I can manage the money coming in honesty because after a property manager monthly mortgage and property warranty I can still pull of pay the property off in the next 10 to 15 yrs on a 30 year mortgage.....I say that because I realistically factored me using some of the month income to pay of consumer debt onto of my normal payments. Anyways I'm just look for some advice on if I should jump off the deep end and try to get financed for this 1.2M property or shoot for the 235K property????? [link] [comments] |
| Setting Up A Real Estate Investco For Family Posted: 26 Oct 2020 12:31 PM PDT Hi, First off, thanks to everyone who has contributed to this subreddit. Reading through the historical comments has provided some great background information. As the title implies, looking at setting up a real estate investment/holding company for family purposes. As background, I'm an executive and am considering retiring or moving to part time. I come from a large family and hence am very family orientated. I worry about the opportunities available to the next generation and want to assist my broader family by getting them involved in a business. Specifically, I would like more of them to be exposed to an entrepreneurial mindset, begin to think like investors, learn broader skills, etc. For a whole host of reasons, I'm thinking that real estate investing has a number of advantages that it would be harder to access by starting a different business. Initially, it a pretty straightforward long-term buy and hold approach to focus on multi unit residential by buying properties that require some renovations/updating. Likely I would expect some single family homes to be added to the mix as family members become more interested in finding their own home. On the pro and con side, most family members are located in or near a small center which has seen flat real estate values for the last couple of decades. The pro is that cash flowing properties can be found, the con is that appreciation won't likely add to the business case. I know that there are better centers from a pure business perspective, but the challenges of remote investing would detract from overall participation etc. To clarify, what I would like to do is pay it forward. I would like to set up a business and slowly grow where more and more family members can participate a little or a lot, but over time provide opportunity for family members to get ahead. There are varied skills in the family, some business, some education, some manual jobs in different industries, and a good work ethic. My questions for the group revolve around how many people have set up a family firm, how big is it, how have different family members participated and what are some of the pros and cons. Thanks for all your thoughts. [link] [comments] |
| Replace tile or something else? Posted: 26 Oct 2020 05:46 PM PDT I'm wanting to remodel an old 4-plex. This is the tile. It's in good shape and has a bit of a marbled look to it in the light. What would you do to give this unit a more premium look/feel? Or would you just cover over the tile entirely? I was thinking adding a center wall trim with two tone paint. Bottom white, top color would be a very light beige and maybe a cheap crown molding. I feel like that would give the effect of waynes molding with this tile to give the unit a more premium look. The tile looks more fancy so what else would go with it to make it work together? Is this tile dated or could it have an elegant/premium look with the right combinations? Thanks for your input. [link] [comments] |
| Posted: 26 Oct 2020 09:14 PM PDT |
| Anyone rented out storage space on their primary residence? Posted: 26 Oct 2020 10:41 AM PDT I've got a 30x50 heated outbuilding on my primary residence lot, and have some friends interested in paying me to store their hobby vehicles in there over the winter. The building has separate electric service to it, as the previous owner used it as a mechanic shop for his business. Has anyone done anything similar? My biggest concern is personal liability in case of a fire or damage to the "tenant's" vehicle. [link] [comments] |
| Posted: 26 Oct 2020 02:19 PM PDT Under what circumstances can you be forced to sell your home, if any ? Would I be forced to sell my home if there are condos going up around my area ? If so would the compensation be more than the current value ? [link] [comments] |
| Posted: 26 Oct 2020 01:12 PM PDT Hi, I'm considering buying a property in Euclid, oh As my first, non syndication property, out of state. Cost is around ~100k I'm thinking about a 40% down, and taking a normal - non mortgage loan of the rest, i can get that at a 2-3% rate. And crunch the numbers so ill get a positive cash flow of ~1 rent per year, for maintenance and vacancy. Between 60-72 months. Rent there is around 1000-1200$ a month, so its almost the 1% rule. Please let me know if you have some insight on the area that I'm not aware of, my numbers, etc. my goal is finish the loan and sell, meaning I'm doing 250% on my money for 6-7 years = ~30% minus price appreciation. Ill be glad to hear some input from others about my plan. A note - I'm a non American, will open an LLC for that and take the loan in my native currency. Appreciate your time [link] [comments] |
| Inheriting Tenants In Violation of Lease Agreement Posted: 26 Oct 2020 12:58 PM PDT Hello everyone, I'm currently in the process of closing on my first duplex (thanks to this group for all the amazing knowledge provided along the way!) and I will be inheriting a tenant on each side of the property. One is month-to-month, and I will not be renewing their lease as I must occupy the property according to my loan terms. The other is on a long-term lease, but I've found through seeing the property that they are violating a few terms in their lease agreement (which was sent to me by the seller). The tenants have a couple large water tanks (the kind you see in the front of an Asian restaurant), and the lease says they aren't supposed to have water furniture of any kind unless allowed by the owner (they could be allowed, but I'm guessing they aren't). It's also clear that they run a business cooking and selling food out of the unit. Basically they cook food and people come pick it up in large silver pans, essentially a pickup catering service. My family has picked up food from places like this before, and this house has all of the signs they are doing this. Pricing sheet hung up near a computer, HUGE commercial wok's set up with propane in the garage, massive rice steamer, etc... If they are cooking in the garage with their commercial equipment, that seems like a large liability since I believe insurance will not cover fire damage if it is due to cooking in an undesignated area. The lease states they are not to engage in any behavior which is "illegal, hazardous, dangerous, or which would cause a cancellation, restriction, or increase in premium of Owner's insurance". I believe this situation falls under a potentially dangerous situation which could affect the home insurance. Has anyone had to deal with a similar situation, and if so, what action did you take upon acquisition of the property? Thank you! [link] [comments] |
| Awesome Long-Term Deal .. Terrible Short-Term Deal Posted: 26 Oct 2020 02:57 PM PDT I need some opinions on this investment property deal that I came across. It's 2 separate residential buildings: a 4-unit and a 7-unit. The Seller is asking for $1.25million for both buildings. The problem is the Seller has kept the rents way too low for years to prevent turnover but with leverage I'd break even at best until leases expire and I can raise rent. If I choose to renovate I could really jack up rents in this part of town but my brain is telling me it's not worth it because of the short-term risk. Current Rents: $700 ... Market Rent: $900 ... Rent Post-Renovation: $1,250 Alternatively, I've been trying to get the Seller to lower the price to 1-million which would at least make the investment bearable in the short-term OR I could buy one of the properties in cash (I can't afford both in cash) so I can renovate, raise rents, and then refinance to get my cash out. Any advice much appreciated. Properties in Kansas City, MO near Uptown Theater [link] [comments] |
| Posted: 26 Oct 2020 06:31 AM PDT Hello! Planning on moving back to my hometown within the next year. My question is how quickly must you occupy your home if you are moving across country? Secondly, this will be my first home and I am interested in using an FHA loan to purchase a duplex which I read is possible if you occupy one side (which I will). Has anyone used FHA for a duplex? Thanks! [link] [comments] |
| Great deal refinancing through better.com? Posted: 26 Oct 2020 04:21 PM PDT Have any of you worked with better.com? Are they legit? I'm looking at a great 15 year fixed deal to cut 7 years off my current term with a 2% interest rate and only raising my monthly by $88. Is this too good to be true? Thanks! [link] [comments] |
| Higher Home prices making cash flow difficult Posted: 26 Oct 2020 04:37 AM PDT Housing prices during these past 2 years has risen dramatically. COC returns for a decent deal is now at 3-5%. I know there are worst deals in other areas of the world but this decline in COC locally is huge since COC was 10-20% prior to this decline Question to the investors: What do you guys do when this happens? Do you just sit back and wait? Sell some properties to lock in profits? Stick to your investment criteria or do you start bending some personal investing rules? What are some of your creative stratagies during these times? [link] [comments] |
| Posted: 26 Oct 2020 03:07 PM PDT I close on my first deal in one week! I'm super excited; it's a duplex that's going to need rehabbed. I'm looking for general contractor referrals. I need someone to walk the property with me, give me insights on what's going to need done and how much it's going to cost. Does anyone here have recommendations? Feel free to shoot me a PM [link] [comments] |
| Questions about REIT Structures Posted: 26 Oct 2020 02:47 PM PDT Hi all - I'm working on a project right now for school and am looking for information on REITs. Having trouble finding some of the information I need online, so thought I would see if anybody here could help. I have a couple questions listed below, but if anybody with experience working in a REIT would be willing to answer some questions privately, it would be really appreciated! Thanks in advance if anybody can give any insight.
I'm sure some more questions will come up during the course of this project, so if anybody would be willing to have a quick chat to help me work through some of this it would be really appreciated! [link] [comments] |
| 1500 acres in rural south America... Where do I start? Posted: 26 Oct 2020 01:42 PM PDT I have a good friend in South America who has asked for my help in selling the family land. Most of the acreage is on a lagoon so there are tons of natural resources, principally water. Any suggestions on where to even begin to estimate the worth of the land? [link] [comments] |
| Any small-scale developers in SoCal in here? Posted: 26 Oct 2020 01:34 PM PDT I'm a broker, but only larger deals. A client of mine says he's working on smaller deals--8 to 20 units or so--and I'm damned if I can figure out how to make those pencil and what I'd think were appropriate risk-adjusted returns. There's no cost efficiencies like there are in larger projects, the rents are arguably at best the same as larger projects, and the returns are generally lower. Am I missing something? Take [this project](https://urbanize.la/post/226-unit-development-break-ground-santa-ana) for example. (Not calling the guy out at all--never heard of him, but he's probably never heard of me, either. :-D ) [Plans here.](https://planning.lacity.org/pdiscaseinfo/search/encoded/MjM5MjIz0) That's a Type III building over a parking garage. It's got to cost $375/NRSF at least to build that. If someone said $400, I wouldn't think they were nuts. A larger deal would probably be $350ish. Soft costs are maybe another 20%. Rents are maybe $4.50/SF (aggressive and excluding the ELI units). How do you underwrite something of that scale and have any land residual at all? [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