Real Estate Investing: Advice needed on first buy |
- Advice needed on first buy
- Can I Make a Significant Low Ball Offer?
- Are Florida single-member LLC's that hold real estate worth it?
- Is this book highly recommended ? Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple
- DIY vs contracted renovation
- First investment property
- What are the factors that I should pay attention the most to when going for a delayed mortgage?
- Recommendations for Books
- 2021 Housing Market
- Buying a "multi-family" house with existing tenant thats a business?
- Pay off Mortgage or Buy a Rental?
- Find historic rents?
- Online classes for Texas real estate license
- Tips and Risk i might face with this sort of house hack?
- Capital Gains on Home sale?
- Your opinion on best website or app to find a roommate?
- Need Some Real Estate Books
| Posted: 28 Nov 2020 03:05 PM PST There are always life lessons you learn after making adult decisions (ie buying your first car). What is something you learned after the fact that would have benefited you during the process of buying your first home/land [link] [comments] |
| Can I Make a Significant Low Ball Offer? Posted: 28 Nov 2020 11:21 PM PST First time home buyer in a not-hot housing market. There's a house that's been listed for about a year and is constantly popping up in my search feed. It's dropped in value once in its year listing. It's listed for $500,000. I don't plan on buying a house until July, and my budget for my first home is approximately $400kish. I'm happy to wait until July, unless I get one heck of a deal then I'd jump on it. Do you think it's okay to send an offer for $400k on a $500k listed house? [link] [comments] |
| Are Florida single-member LLC's that hold real estate worth it? Posted: 28 Nov 2020 09:02 PM PST So, one of the benefits of creating an LLC to hold real estate is for asset protection. However, it seems as if a single member LLC in Florida doesn't really offer much in the way of asset protection as, unlike a multi-member LLC, the charging order is not the creditor's exclusive remedy against a debtor's membership interest. So, are single-member LLC's in Florida worth it? [link] [comments] |
| Posted: 28 Nov 2020 10:42 PM PST I'm looking to get some more audiobooks on investing in real estate as a first time & small time investor and wanted to see what were some good audiobooks to listen to? I see the BRRRR method being written about a lot so it seems pretty valid and popular for a reason. Should I get this book or something else ? [link] [comments] |
| Posted: 28 Nov 2020 04:51 PM PST Hi all, see a lot of posts about expected value from various forms of renovation work on a residence, but I wanted to assess how many of these activities best lend themselves to DIY vs the activities I'd be foolish to attempt myself. Specifically, I'm interested in: - Demo work - Installing appliances (stove, dishwasher, fridge) - Installing bathroom fixtures (toilet + sink) - Kitchen cabinetry (prefabricated install) - Replacing counter tops with granite - Hardwood Flooring (I know this is ambiguous, so mainly focused on what extent of flooring refurbishment/ replacement gets to the level where we'd want to bring in a pro) - Tile flooring (specific to bathroom remodel, so small sq ft) - Interior Painting Any other items you believe are a must/ common reno checklist item when redoing baths/ kitchen. Thanks! [link] [comments] |
| Posted: 29 Nov 2020 12:13 AM PST Hello, currently 23 credit score of 770 and salary of 71k pre tax. The property is 3bd room 2 bth for $67,000 with a est monthly payment of $351. I would put down roughly 20-25%. It would be an out of state investment. Rent would be about $380 a month/ per bdr and it would be used as a college rental. Roof, plumbing heating have all been replaced in 2014. Usually accounting for a month vacancy (July) before new students move in during august. Does the numbers make sense? I've been running through it but still don't want to gloss anything over. Also would there be a way to check rental history? [link] [comments] |
| What are the factors that I should pay attention the most to when going for a delayed mortgage? Posted: 28 Nov 2020 07:51 PM PST Potentially I'm planning to purchase a commercial property in cash (because the seller prefers cash and apparently there are other potential buyers that are also interested). So I'd like to get a mortgage as if I did before the purchase so I can use the cash as leverage for other investments. [link] [comments] |
| Posted: 28 Nov 2020 07:29 PM PST My son, who is graduated with a business degree, but has limited real estate investment knowledge is looking for book recommendations. He's taken, one basic real estate class, but is looking to learn more about commercial real estate investing. Any recommendations? Thanks! [link] [comments] |
| Posted: 28 Nov 2020 05:20 PM PST |
| Buying a "multi-family" house with existing tenant thats a business? Posted: 28 Nov 2020 04:45 PM PST I saw this house in my area on zillow for a pretty good deal and it actually went down 10% in last few months while still listed. I plan on checking it out but from the description it seems its hard to sell because its not a large house and while the basement and second floor can be accessed from a separate entrance there is a medical clinic downstairs that has been paying rent and would prefer to stay and continue paying rent which should cancel out the mortgage. from the pics and disclosure everything looks good, so it had me wondering why people arent putting out offers since the area is in a sellers market. is there something about business tenants im missing? is it a lot more maintenance from the landlord side. or is it more of a risk to break even and if the tenant leaves the bottom floor is already remodeled to that of a private clinic so it would be harder to rent without doing a lot of work to turning it back to residential ? [link] [comments] |
| Pay off Mortgage or Buy a Rental? Posted: 28 Nov 2020 08:18 AM PST We're a single income family in CA. We have a 3-4k+ monthly surplus after expenses and bonuses of about 10-45k annually. We have 70k in straight savings and another 10k or so in non IRA mutual funds. There is also about 65k in company related stock (annual dividends =$1300) and a healthy amount in our 401k. Our current mortgage has 150k left to go. The home is valid at roughly 375-400k with 16 of 20 years remaining at 4%. We have good credit and no other debt. We want to build a portfolio. Specifically multipurpose homes: Lock in low tax assessments. Fix them. Rent them. Have them available for our college aged children someday and eventually retire in them ourselves. At least long enough to avoid capital gains. We have considerable experience with home repair. The coastal fixer market we'd been eyeing went from 300k to low 400s overnight. There are still local (non coastal) options but in a less desirable area in the 200-250k range. Unfortunately, these don't meet most of our multipurpose criteria. But they are still good properties and we could eventually live in them long enough to avoid capital gains. We also want to avoid massive amounts of debt. 3 kids + 1 income + No safety net= scary. In the next year, we will probably have enough to pay off our existing mortgage or invest in a rental property. The options as we can see them:
So what do we do? We have not peen prequalified for a loan as we're still in the preliminary stages of our search. Feedback on what to expect there is also appreciated. Thank you in advance for your input! [link] [comments] |
| Posted: 28 Nov 2020 09:47 AM PST I know you can find zillow excel data for prices of 1 or 2 bedrooms in a given area over a period of time, but this is imprecise and doesn't tale into account quality of building. I go on Apartments.com/Craigslist/other sites and I see asking rent for buildings today in a given area. Is there any way to see what these sites looked like 2, 6, 12, 24 months ago for a given area? [link] [comments] |
| Online classes for Texas real estate license Posted: 28 Nov 2020 11:30 AM PST I'm completely new here, I've been reading up about the requirements. I plan on buying my first home in Texas before the end of 2021. I'm living in California right now with some extra time after work and I'm getting really interested in real estate. If anyone has any websites to get started from the beginning please send them my way. I appreciate the help thank you guys. [link] [comments] |
| Tips and Risk i might face with this sort of house hack? Posted: 28 Nov 2020 07:25 AM PST I'm currently a college student and i have a dope idea that I would like to get a review on before deciding if it's the way i wanna go. I currently get paid 400 USD every month from the state for studying and living with my parents. If I move out on my own the pay from the state increases to 1000 USD. I can rent a room in my city for around 320-480 USD My idea is that I move out on my own and use the place as a studying room while I still stay living home. (That means that I don't need to spend extra money on food and etc.) If I do that I can get like 280 USD - 120 USD extra every month for Investing or something else. Anything that I need to keep in mind before deciding if it's stupid or not? Thanks for reading! [link] [comments] |
| Posted: 28 Nov 2020 05:12 AM PST I've done some research on this but looking for fellow real estate investors for their expertise as well. I am wondering if my wife and I will need to pay capital gains tax on a home sale. Details below, and both houses are in Ohio.
Are we immediately screwed because this isn't our primary residence anymore? From what I read, if you have lived there for 2 out of the last five years, this excludes from paying capital gains. Also, we are well under the $500k threshold filing jointly for taxes. Looking forward to everyone's insight, and thank you in advance!! [link] [comments] |
| Your opinion on best website or app to find a roommate? Posted: 28 Nov 2020 09:11 AM PST Want to rent out a room in my home? Found some obvious ones while Googling, but what do you like? Thanks [link] [comments] |
| Posted: 28 Nov 2020 08:50 AM PST Hi everyone, Does anyone know of any good more current books I can buy on where to find good real estate deals and on flipping houses? Thanks! [link] [comments] |
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