Real Estate Investing: Housing prices 2021 |
- Housing prices 2021
- How often do landlords get sued?
- Wait until I have a career to buy investment property?
- do you think getting a degree in real estate development would be helpful?
- GDP quarterly and yearly data by state
- Selling my rental house
- Lowball offer on Vacant land
- How to best approach a negotiation?
- Why wouldn't house-hacking make sense in my situation?
- Completely new to this. Any book suggestions to get started ?
- Buying a portion of land possible?
- Investing in a HCOL Area
- What’s a good rate for a $2million loan
- Seeking advise, Looking to Buy my first Duplex (Income Property) in general. Ontario
- Should I buy this SFH?
- Removing name from title
- I'm putting together a business plan/summary to start my BRRRR investing journey with OPM.
- Larger bathroom or laundry? Renovation dilemma.
- Doing BRRRR method with HELOC
- Background Checks
- 18 years old with £25k
| Posted: 30 Oct 2020 04:27 PM PDT This morning I read an article how foreclosures will increase in 2021 due to the economic crisis we are in right now and govt. Regulations preventing evictions expire at end of year. Literally a few hours later another article pops up on my feed saying how housing prices are expected to continue to increase next year and into 2022! So which is it because I missed out on a home in my dream neighborhood about a year ago and am waiting for another one to pop up but not if its gonna be priced through the roof! I was hoping for prices to stabilize somewhat.....I am in south florida btw...so very high housing prices overall. [link] [comments] |
| How often do landlords get sued? Posted: 30 Oct 2020 04:53 AM PDT Like if they slip and fall or something to that effect. Landlord insurance would mitigate the risk, as would making an llc. But it is an unpleasant risk nonetheless. [link] [comments] |
| Wait until I have a career to buy investment property? Posted: 30 Oct 2020 04:46 PM PDT I'm 24, living with my parents and have $55k saved. Looking to buy a house to rent out, and my parents are willing to cosign for me. I live in New York and the house I'm looking at is a 3 bedroom in North Carolina (much cheaper market). Only problem is I'm just starting my career and don't really know which direction I'm headed in. My current job is dead end customer service that only pays $35k a year. I may end up living in the house and renting out 2 of the bedrooms. Should I wait until I have more career direction to buy investment property? [link] [comments] |
| do you think getting a degree in real estate development would be helpful? Posted: 30 Oct 2020 07:04 PM PDT do you think it's worth it to specifically go to school for real estate development or can most of that knowledge be self taught/learned online, reading books, talking to people, etc so it doesn't really make that much of a difference? i'm a current college student and definitely want to get into real estate investment in the future and my university offers a real estate development program so i'm wondering if it's worth it to change my major to it? [link] [comments] |
| GDP quarterly and yearly data by state Posted: 31 Oct 2020 12:33 AM PDT I'm aware that the Fred publishes data about the US GDP every quarterly or so however, does anyone know of a source where I can find GDP data per state? [link] [comments] |
| Posted: 30 Oct 2020 08:17 PM PDT Im getting a divorce and we are selling our rental house. I am hoping to talk her into putting shingles and a paint job on it. Do you guys think we should do new paint inside and flooring or offer credit? The tenants painted a mural on one wall for their nursery (I approved painting it but didnt know it was a mural. Lol) paint inside is about 8 years old same with the carpet and it has been a rental for 6 years but over all in pretty good shape. I am in a hot market and am going to have an agent come look at just wanna see what you guys think. thanks... [link] [comments] |
| Posted: 30 Oct 2020 02:16 PM PDT I am interested in buying 50 acre piece of land for the purposes of building a home. I have a budget of around 1.5 mil for the entire project. This land's asking price is around 670,000 and is heavily wooded, so part of it will need to be cleared. I am thinking around 2 acres to be cleared. I have no idea how much it would cost but a custom builder said they would charge approximately 5000 per day. The land has been listed on realtor.ca for more than 12 months (don't know exactly how many months but at least 12) which is why I think they would accept a low offer. There is also a small pond looking thing in the center of the lot that is around 1/4 of an acre. It also says in the description that its a "motivated seller!!!" and said "make an offer!!!!!!!!" With those reasons, should I make an offer around 400,000 is that way too low (40% off asking price). In short: Want to buy vacant land. The land has been in the market for over a year. Its an ideal piece of land for me but would be out of my budget if I payed asking price. I am thinking a 40% reduction in asking price would be my offer. The description says motivated seller and says to make an offer [link] [comments] |
| How to best approach a negotiation? Posted: 30 Oct 2020 12:55 PM PDT Location British Columbia, Canada We are interested in buying a very unique property and we want to negotiate it down. Originally listed for $779,000 Dropped down to $749,000 (we are told this adjustment happened after failed financing from an offer) We already had a showing and met the seller. The seller is very motivated to sell due to a failed relationship. We already waited a few weeks. We would like to come in and offer 700,000 subj to financing & inspection. How to handle the negotiation moving forward do get the best deal? Edit: numbers** [link] [comments] |
| Why wouldn't house-hacking make sense in my situation? Posted: 30 Oct 2020 03:26 PM PDT Hello and thanks for reading and offering your suggestions. I am a 21 M about to graduate from university in December with degree in accounting. Here are some of my facts of my finances:
Plan 1: I really find real estate interesting specifically house hacking. I want to get a full time job and house hack. I do not see a lot of downsides except the fact I am young in my career and I could want to move locations. (my parents have experience in real estate rentals and I can fix electrical and plumbing work) Plan 2: Take my savings accounts and invest into the S&P 500 in a lump sum and forget it. I feel like this would be the easier option and I could just rent and focus on growing my career. It is just I have seen what real estate has done for my parents and I want that for me one day, but my parents have more earning potential given their degrees are in cyber security and engineering, while mine is going to be in accounting. What do you guys think which plan? Any advice? Disclaimer: All this money I earned myself by working since I was 16 years old and savings. I had the benefit of wealthy parents and I will never deny I could not be in this position without them, but I was not handed this money like a lot of friends and people think. [link] [comments] |
| Completely new to this. Any book suggestions to get started ? Posted: 30 Oct 2020 05:15 PM PDT I'm a year out of high school and don't have a high flow of money to work with. I work about 50 hours a week and continue saving money. I plan on buying my first house in the middle of 2021. Like I said I'm completely new to this but wanted to get started. If you guys have any suggestions I would greatly appreciate it. Thank you. [link] [comments] |
| Buying a portion of land possible? Posted: 30 Oct 2020 07:55 PM PDT First time buying a piece of land to build a custom home. I want to build a custom home on a lot that's around 1 acre in size. It's hard to find lots that are only 1 acre in size, they are always too small, or too expensive. I have came across multiple property listings which look great and would buy however, they are all like 50 acres for 1.7 million. I don't have the capital to spend 1.7 million, and build a home, without selling my current home. I know selling a portion of land is possible, however, do sellers consider selling a portion of the land as opposed to selling the entire piece. If i buy only a portion of land, i can build my dream home while turning my current home into a rental [link] [comments] |
| Posted: 30 Oct 2020 11:56 AM PDT Long time listener, first time caller. I'm stuck in a predicament here. I'm in my mid 20s and have worked in the real estate industry in a HCOL on east coast for the last 3 years. I know a lot about my market, saved up a decent amount of money, and made a lot of connections. Unfortunately, due to high purchase prices, there are no situations where I can put 10-15% down on a duplex and it'll cash flow. Even if I went the FHA route by living in one unit, the rental income still wouldn't cover my PITI in full. For those who started off in a HCOL area, how did you acquire your first property and did you acquire it close to where you live? Also, did you purchase a primary residence before you pruchased an investment property? TIA [link] [comments] |
| What’s a good rate for a $2million loan Posted: 30 Oct 2020 07:05 PM PDT Hello, We are looking at buying a sfh in the 1.8-2.2m range, paying 20% down. Would like to go 30 year fixed. What's a reasonable rate today? Thanks! [link] [comments] |
| Seeking advise, Looking to Buy my first Duplex (Income Property) in general. Ontario Posted: 30 Oct 2020 07:26 AM PDT Hi all thank you for taking the time to review and provide any feedback. I hope my questions may help others in their first step. Existing Tennent's upon Purchase
Property Management Companies
Finance
FWIW Info Duplex Listed @ $255,000 in Ontario East Down payment will be 20% From HELOC variable Rate % 2.95 Currently Rents from Both Units Combined is $ 1865.00 I would pay Gas-Heat Water & Sewage., They Pay Hydro (Am I allowed to transfer GW&S to Tennent's upon purchase or do I Inherit existing agreements as a contract) P&I = $969 / T = $275 / Ins. $100 / Utilities = $ 150 = $1494 ($371 Cashflow less % Charge on HELOC $150 = $221.00) I look forward to any and all feedback. I also hope these questions help others who are looking to make a step in to Real Estate. [link] [comments] |
| Posted: 30 Oct 2020 05:55 PM PDT I'm considering purchasing a SFH as a rental investment. The numbers aren't as good as I would like, but this home seems about as good as it gets in the local market. I need a place to live here for ~7 months. Occupying the property during that time, and using my would-be rent money towards the purchase, makes the deal more attractive. I'm hoping for advice on whether it would be a better option than renting a home to live in.
Is that enough information to provide? Do you think I'd be better off buying or renting? (edit: formatting) [link] [comments] |
| Posted: 30 Oct 2020 01:59 PM PDT Hello My father and I had purchased 2 rental properties about 10 years ago. We both recently moved into one. How do we go about getting each other off the title? Essentially splitting both homes in our own name. [link] [comments] |
| I'm putting together a business plan/summary to start my BRRRR investing journey with OPM. Posted: 30 Oct 2020 09:47 AM PDT Hello all. I'm trying to take actionable steps every day, no matter how small, to move toward growing my real estate investment portfolio. I've taken the step this week to start to write up a business proposal for possible private money lenders to gage interest and fund availability before I begin searching for deals. The strategy will utilize the BRRRR methodology, focusing on SFH's in my area. The issue I'm having is that, while these documents are a step, I have no roadmap to be sure I can continue moving in the right direction. So, I'm laying out the steps I need to take from pretty much the ground floor all the way up to purchasing my first deal. If anyone is experienced in this sort of thing, could you look over my outline and see if I missed anything or if I'm planning to do anything too early or too late? Here's my list in order:
Some notes: I own 2 properties/7 units. This would not be my very first exposure in real estate. I have funds to buy another deal if I really wanted to, but prefer to hold on to that in case my first BRRRR goes poorly. The Exec summary is a brief overview of the investment strategy. It does not go in to major detail. Nobody wants to read page and pages of unsolicited investment opportunities. The response to that will trigger the business plan be sent out to those interested. This is the meat and potatoes that dives deep in to the strategy and how it works for everyone involved. Is the attorney step too general? Are there more actions I need to take? Sorry for the wall of text. Just trying to get compile nuggets and tidbits from anyone and everyone. Hopefully even just a shred of everyone's experience can take my very blurry and general road map and clarify it and reveal areas that need attention. Thank you for your time. Edit: I would like to add contacting local banks for details about the refinance stage to make sure everything is up to their standard before starting an investment. [link] [comments] |
| Larger bathroom or laundry? Renovation dilemma. Posted: 30 Oct 2020 01:28 PM PDT I am thinking of renovating the bathroom of my 425 square foot 1 bedroom 1 bathroom apartment (Vancouver, BC). I am in a bit of a dilemma of what to do in terms of resale value down the road. Currently, the bathroom has the standard 6 foot tub + shower combination. The issue is that my unit does not have its own laundry. In my building, there are a total of 10 units (which are 425 square feet - the smallest sized unit in the building) that share a laundry; all of the larger sized units have their own laundry. The building is about 20 years old, but I know that times have changed and units now always have their own laundry regardless of how small the square footage. My dilemma is whether or not to install a stacking washer and dryer, and if so, where? There are two options if I decide to go ahead with installing. The first is I am considering replacing one half of the tub with a stand up shower, and the other half with the stacking washer and dryer (in a sort of closet formation). The other option would be to put the stacking washer and dryer in one of the closets. My unit only has two small closets (each 3 feet by 3 feet) and if I were to put the washer and dryer in one of them, I would only have one small closet remaining. Am I overestimating the importance of in-suite laundry? Would putting the washer and dryer in one of the closets be a better option than taking up bathroom space? I know that for me, I wouldn't mind a smaller shower and no tub if it meant I could have my own laundry (and I also appreciate closet space) but I don't plan on living there forever and I want to make a renovation that will be the most value down the road. I know that a tub may be ideal for smaller families or seniors, but I think it is unlikely that any of those demographics would purchase a 425 square foot condo in a highrise building. Any insight would be appreciated! [link] [comments] |
| Posted: 30 Oct 2020 01:02 PM PDT Has anyone here started there BRRRR with a HLOC? Were you able to get the total expense covered with a heloc or did it function more as a supplement?? [link] [comments] |
| Posted: 30 Oct 2020 10:34 AM PDT Hey all, what sites or services do you use for background checks? Thanks. [link] [comments] |
| Posted: 30 Oct 2020 08:20 AM PDT Please help, I'm 18 years old, finished school, £25k invested, making £30k annual, self employed and my dream is to get involved in real estate but I have no clue where to start, do I buy my first property and take in a tenant, do I do a FHA loan and buy a larger property and house hack with 2 tenants?? Please any advice would be greatly appreciated!🙏 P.S any story's about how you got started, any mistakes you've made and any advice you would give to your younger self would be really appreciated! [link] [comments] |
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