Real Estate Investing: Out of state real estate

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• Out of state real estate
• Happy Cakeday, r/realestateinvesting! Today you're 12
• Where to buy first investment property as an immigrant - considering US and Poland
• What's up with prices in Las Vegas?
• Chicago - River North Condo Investment
• How do I know if there is a market?
• Taxes for selling home??
• Land parallel to rural multi-lane highway
• [Landlord] [US, NC] Section 8: what happens when applicant's voucher won't cover all of the rent?
• Looks for thoughts on exit strategy for SFH
• What would be a good part-time job to help you grow your investments? Specifically short-term rentals (Airbnb).
• New Multifamily Construction Help
• Is a home appraised based on what the home should be listed for, or what the home will likely sell for?
• How regularly updated are Zillow for rent listings?
• Evaluating a Rental Investment That Will Be Owner-occupied in the Short-term
• Anyone invest in the Charlotte area?
• Residential investor looking to get into NNN lease investments - how do I avoid getting wiped out?
• Can you get an FHA loan if you bought first property in cash? Possibly stupid question(sorry IA)
• Do month to month leases offer more protection during the pandemic?
• american looking for american lender to buy a candian property
• WHOLESALE QUESTION
• Refi / cash out / HELOC?
• Lengthy on-market time?
• Loan Rates in Northern California

Out of state real estate Posted: 24 Oct 2020 09:20 PM PDT What are some things to consider when buying a rental out of state? I'm new to real estate investing, but I've saved enough for a down payment. My problem is the market where I live is all but impossible to generate positive cash flow. So I have to go out of state, but this means I'll have to buy the property site unseen and that I'm beholden to a manager to run the place. So I've done my research and found a couple options in Cleveland suburbs. All these options are in "B" neighborhoods and from what I can tell from descriptions and photos, all the major potential expenses (furnace, A/C, roof, bathrooms etc.) will be good for the next few years. Running the numbers and padding them on the worst case/conservative side all these options have the potential to generate positive cash flow closer to 2% and 15%+ CoC. Still, I'm new to this. I haven't purchased a house other than the ones I've lived in. What are some things to consider when doing this? I'm going to be contacting both a local realtor and property manager shortly, what questions should I be asking? Thanks in advance! submitted by /u/Ragnarnar [link] [comments]

Happy Cakeday, r/realestateinvesting! Today you're 12 Posted: 24 Oct 2020 11:00 AM PDT Let's look back at some memorable moments and interesting insights from last year. Your top 10 posts: "UPDATE - Found out tenant was laid off work" by u/LoopholeTravel "I am a failed real estate investor. Here's what I learned." by u/somecats "Landlord Dump" by u/LotsOfQuestions4ever "Uncle Baxter's Real Estate Finance 101" by u/BaxterTaxter "The amount of liquid hatred I'm seeing on reddit towards landlords these days is staggering. It appears that to be a landlord these days is about the worst thing you can be. Unless you just put a big banner FREE RENT on your properties. Then you're lauded as a hero." by u/che_la_74 "How I turned $54k into $400K+ in 8 Months. Deal Analysis of my Mobile Home Park" by u/LordAshon "Sellers are still crazy!" by u/LordAshon "The 4 Laws of Tenant Screening" by u/JanitorOPplznerf "How to Choose a Good Property Manager" by u/JanitorOPplznerf "I'm over with you Real Estate, calling it quits (for now)" by u/CREativefinancing submitted by /u/AutoModerator [link] [comments]

Where to buy first investment property as an immigrant - considering US and Poland Posted: 24 Oct 2020 06:55 PM PDT I'm trying to figure out where to look for my first rental property US or Europe/Poland. About me: 30F, moved to the US a year ago. I grew up in an extremely risk averse environment, now trying to snap out of it and start investing. As of now I have an extra $50k that I'm comfortable investing, I could push it a bit more if needed. For the reference: Apt prices in the locations that I'm comfortable with in Poland, start from $60.000 with renovation. Assuming I could get similar cashflow in PL and US locations, where should I look? Pros for real estate in Poland: + I have connections there and I understand the market/mentality better. + have some landlording experience there. I've been renting out my old apt for last 5 years. It's currently worth around $80.000, no mortgage, brings $400 a month. Not optimal, but I want to keep it. + Apartment prices have been constantly rising. Appreciation in the top locations in my city has been 100% over last 5 years and I don't think it's a bubble. Polish economy is on a long run to eventually catch up with the rest of Europe. I think that even current government can't mess it up too badly. Cons: - I can get a mortgage only in USD, even in Poland. Buying a property that will brings cash in PLN, with a mortgage in the USD, introduces additional risks and volatility. Buying all cash I'll lose the leverage. That's the biggest disadvantage that makes me lean towards the US. - Relatively young economy, so you never know. - I'm far. There might be difficulties in arranging everything. Pros of investing in the US: + I'm here for at least a couple of years. + I'm working remotely at the moment. I could potentially spend a month somewhere in mid west if needed. + Mortgage in the same currency I make money in Cons of the US: - I have very little connections here. - I'd buy our of state. I live in CA. - My credit score here is not great. I'm at 720, mosty because I have very little credit history in the US. I'm working on it. Could you share your thoughts on: - Which market would you focus on? - What credit score do I need to have, to even start considering a reasonable mortgage in the US? - If I buy in the US, should I do it through LLC? - What kind of property should I look for, for an easy entry? I'm thinking single family/condos. submitted by /u/mayoyoya [link] [comments]

What's up with prices in Las Vegas? Posted: 24 Oct 2020 04:53 AM PDT Saw a condo that lives like a townhouse in Centennial Hills (SkyPointe) in February, was 210k. Yesterday one similar in same complex listed for 230k. Vegas I thought would be the one place in the country where the housing market would struggle. submitted by /u/bee4534 [link] [comments]

Chicago - River North Condo Investment Posted: 24 Oct 2020 05:26 PM PDT I am considering investing in a condo in the River North area of Chicago. Historically, the area is one of the most developed & most sought after locations. Given the current covid condition, many people are fleeing to the suburbs, thus creating a surplus of 1bd condos. In your experience, are luxury condos a good investment (factoring in HOA's & taxes)? submitted by /u/allthingsgreen14 [link] [comments]

How do I know if there is a market? Posted: 25 Oct 2020 12:10 AM PDT Might be a stupid question but how do you know if people are gonna rent your place or not even if the price is right? I am interested in investing but I watch videos of investors in LA that get tens of applications for their places but then I look at my city and there are literally 3 places for rent and that's it. I live in a city with 30k people and even tho the buying and selling market is pretty active (about 4 houses sell every 2 weeks) it looks like houses do not rent, mostly just apartment buildings. How do I understand if there actually is a market for renting? I don't wanna flip I just wanna invest long term and I am kinda scared that Im gonna end up having to sell. If you want to know what city this is so you can look at it yourself PM me submitted by /u/PizzaBoy7777 [link] [comments]

Taxes for selling home?? Posted: 24 Oct 2020 08:09 PM PDT Anyone know any good net calculators for selling homes?? Also does the sale of a home count as taxable income if it's under the threshold for Capitol gains tax? submitted by /u/Whatdoido123432 [link] [comments]

Land parallel to rural multi-lane highway Posted: 24 Oct 2020 09:31 PM PDT I found a listing for 12 acres of land in a trapezoidal kilometer long wedge next to a rural multi-lane highway (there is 50 metre forested median between the two sets of two lanes to give you an idea of what I mean). Currently the short access road along the township road allowance is maintained by an automotive garage and this road allowance continues parallel to the kilometer long property such that the trapezoid is bounded by these allowances and the highway. The listing also states that you can't dig a septic tank but otherwise I have seen houses straight up to the edge of the highway elsewhere so that shouldn't be a problem if that issue can be worked around. The land is cheap so I'm looking into it, but what potential issues should I look out for? I counted 3 cars along both sides of the kilometre stretch on the satellite photo so traffic noise shouldn't be an issue unless there happens to be an unusual rush out of the city for whatever reason. The property is a 20 minute walk from an under 1000 person town along on the nearest highway exit and is a 45 minute drive from the center of a 1 million plus capital city submitted by /u/johnhammondsexpenses [link] [comments]

[Landlord] [US, NC] Section 8: what happens when applicant's voucher won't cover all of the rent? Posted: 24 Oct 2020 12:38 PM PDT submitted by /u/mtothej_ [link] [comments]

Looks for thoughts on exit strategy for SFH Posted: 24 Oct 2020 07:41 AM PDT Hi, I have a house I used to live in that I converted to a rental in 2013 in the Denver, CO suburbs. I've rented it continuously since with out issue. However as life gets busier I have less time to manage it and wondering about routes to offload it. Initially I just thought I'd keep it until I could move back into it, but looking for other options. I bought the house for $170k in 2008 and it's probably at about $475 now. It rents for $2200 and is fully paid off. I know ultimately my move will be to consult a tax expert but wanted to ask about high level options that would reduce cap gains, depreciation payback, etc... I know this is a pretty basic question so if there is just something I should search this subreddit for or good references to point me to that would be appreciated. submitted by /u/UnobjectionableWok [link] [comments]

What would be a good part-time job to help you grow your investments? Specifically short-term rentals (Airbnb). Posted: 24 Oct 2020 03:32 PM PDT Hi everyone! I'm new to real estate investing and am looking to get into STR (possible LTR). I have a finance degree but am currently working in an unrelated field. I'm thinking about quitting that and working part time (my wife's income will cover most expenses) in some kind of job that will help with my investments. What would be the best job to get? Real estate agent? Inspector? Mortgage broker? Property management? Any help is appreciated! submitted by /u/The__Snow__Man [link] [comments]

New Multifamily Construction Help Posted: 24 Oct 2020 12:16 PM PDT I know that this forum is predominately single family/ duplex based but the commercial one is much smaller so I figured I'd try here first. ​ I have a background in commercial construction and have been building homes for 3 years. I was looking at purchasing a pre-built older complex but I figured I could use my construction experience to get some free equity but am having trouble figuring out what the final build would be worth. This project is located in DFW Texas. ​ Also, the numbers don't make sense from a COC standpoint but thought I may be missing something ​ Build Cost: $3,100,00 34 units, 2 bed/ 1 bath Rent: $35,700 (month) ($1,050 a unit). The complex down the road is 50 years old and gets $950 for 2 beds ​ Expenses: Figured 40% and 8% vacancy $75,000 property tax $5,000 insurance $32,000 management $21,000 repairs $21,000 capex $1,500 site electricity $1,500 landscaping $1,500 trash ​ This gives me $22,000/ year cashflow with 20% down ​ The cashflow is terrible but when I look at future projections of paying down the loan, it seems like a great investment or if I could sell for $800,000 more than I built for then it could be a good profit. submitted by /u/holla09 [link] [comments]

Is a home appraised based on what the home should be listed for, or what the home will likely sell for? Posted: 24 Oct 2020 10:55 AM PDT I'm going to be refinancing my property after reno's. I'm in an very hot market, where most property's are sold instantly with multiple offers and well over asking. When I go to get it appraised, will the value be based on what it will likely go for in the current market? submitted by /u/tbhzzz [link] [comments]

How regularly updated are Zillow for rent listings? Posted: 24 Oct 2020 10:50 AM PDT For example some in the zip code are listed 30-70 days ago. I wonder if they are maybe rented out already submitted by /u/ActualInevitable [link] [comments]

Evaluating a Rental Investment That Will Be Owner-occupied in the Short-term Posted: 24 Oct 2020 05:55 PM PDT I have no experience in real estate investing. I'm looking at rental properties in a market where the price to rent ratio isn't favorable enough to meet the 1% or 50-55% rules, but there are some properties that might come close. I need a home to live in here for the next ~9 months. I could occupy my investment property before renting it out, or just rent a place rather than buying. How should I adjust my target numbers to account for renting to myself/saving on rent? submitted by /u/WakeTheLion [link] [comments]

Anyone invest in the Charlotte area? Posted: 24 Oct 2020 09:32 AM PDT I'm going to be moving down there and eventually purchasing, but am wondering if I am missing something? Pretty much every house I'm looking at seems to be crap from a cash flow perspective. Are there still deals to be had or am I way too late to the party? I've looked in both the closer proximity to downtown and some surrounding suburbs but everything just seems so expensive for the rent it'll command. submitted by /u/dekd22 [link] [comments]

Residential investor looking to get into NNN lease investments - how do I avoid getting wiped out? Posted: 24 Oct 2020 04:29 PM PDT Basically, I have a handful of SFH and duplexes that have significantly appreciated over the last few years. I'm also not wanting to do hands-on management/maintenance anymore, and I also can't get out of real estate without a huge tax bill because of 1031 exchange. So, I've been looking into NNN lease investments and it sounds perfect. It sounds like the biggest risk for NNN is if tenants vacate (either early or on-time) and we can't find a replacement quickly, then we're stuck paying a big mortgage for potentially years on end. I'm young enough to take some risk, but I basically need to avoid being wiped out completely (have a family). So my main question is this: how do I avoid getting wiped out? Is NNN right for me? Why shouldn't I go into NNN? Personal stats: 34M, married with three kids Net worth ~2MM Rough breakdown 600K personal residence, with 450K mortgage 2MM worth of rental properties, with 550K mortgage across them 210K retirement (Roth and 401k) 280K cash Yearly W2 income ~300K Yearly spend ~70K submitted by /u/smokerhouse [link] [comments]

Can you get an FHA loan if you bought first property in cash? Possibly stupid question(sorry IA) Posted: 24 Oct 2020 05:14 AM PDT I bought my first property in a cash deal back in 2011 in cash as the buyer was looking for a quick closing, and bank financing at that time was quite difficult. Fast forward, I want to buy a new home and am curious if I can still use the FHA 3.5% loan, or anything similar? Possibly a stupid question, thank you in advance. submitted by /u/rambade [link] [comments]

Do month to month leases offer more protection during the pandemic? Posted: 24 Oct 2020 02:26 PM PDT submitted by /u/gtikid69 [link] [comments]

american looking for american lender to buy a candian property Posted: 24 Oct 2020 11:56 AM PDT Hello, does anyone have any information on this ? I am an american my wife is candian and we are looking for an american lender or the best way to buy a property in BC. ​ anything helps! ​ thanks! submitted by /u/volvomania [link] [comments]

WHOLESALE QUESTION Posted: 24 Oct 2020 11:07 AM PDT Can I get a wholesale deal with the seller being an LLC of some sort ? My current situation is I have a potential seller who lives in a different state but owns a house under his LLC in another state.. am I able to get assign a contract to his LLC ? (The house is completely paid for) submitted by /u/Growinbudz [link] [comments]

Refi / cash out / HELOC? Posted: 24 Oct 2020 09:13 AM PDT I'm TX based and looking to leverage my equity and a big W-2 bump (~$50k) as efficiently as possible, hopefully into a new property. W-2 income: $250k Primary residence: SFH, 2 mortgages ($399k @ 4.25%, $98k @ 6.25), valued at ~$700k Investment prop: Condo, 1 mortgage ($214k @ 4.75%), valued at ~$375k If it matters, the condo is currently operating as an STR cash flowing $500-800/mo. I'm generally buy and hold, and open to BRRR. That said, both properties are in highly desirable areas and would sell around values listed above. What's my best move in the current climate? Refi to drop rates, HELOC/cash out to buy another prop? Any recs on TX lenders? Thanks! submitted by /u/slothjones [link] [comments]

Lengthy on-market time? Posted: 24 Oct 2020 02:44 AM PDT New to wholesaling and doing deals virtually finding houses through sites like Redfin. Came across a 6 bed 3 bath 3060sqft house in Kansas listed for $75,000 with not much rehab needed and a history of price drops and no pending history, but it's been listed for like 3 months. The ARV is a good deal without even negotiating the list price. It even went pending a few days ago and now it's re-listed. What does this mean? Not a great neighborhood for flips? REA holding back deal killing info? What would be a reason investors aren't jumping on this one? submitted by /u/rafiela_laflare [link] [comments]

Loan Rates in Northern California Posted: 24 Oct 2020 07:34 AM PDT What is the rate I can expect to pay if I borrow from $200k - $500k for an income property? I'm in Northern California. My credit is above 800, and I'd like to buy either single family homes, or multi-unit apartments. submitted by /u/ICDF-Augustus [link] [comments]

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