Real Estate Investing: Anybody run student rentals? |
- Anybody run student rentals?
- Am I getting hosed by this lender?!
- Free FSBO listings with owner phone numbers (other than Zillow or Craigslist)?
- Out of the loop. How are HELOC and refi's done nowadays with the pandemic?
- My first property investment
- First time using a property manager. Is this normal?
- It title insurance bogus?
- What homeowners insurance do you guys use for Short Term Rentals? Proper Insurance jacking up my rates for no reason.
- Act 60 (act 22 or 20) in Puerto Rico
- Investing in my first property(out of state)- What do I need to know
- Cash from construction escrow ?
- Renting from yourself (sorry if this isn't the best sub to ask)
- Question regarding sale of rental and avoid cap gains
- My parents have shares in a 506(c) syndication investment they would like to transfer to me. They are accredited investors and I am not. Can this be done?
- Residential Land-Source of side income
- Can I convert a vacation home into a rental?
- Rural properties in not up and coming areas where seasonal visitors are the only real economic driver
- Appraisal Contingency Rider
- Implications of purchasing a home with multiple people
- Multifamily - Lease Recommendations
- Investing in Apartment, Condo or Townhouse
- Vacant College Rentals: Hold until next semester?
- Atlanta Georgia market question
- Can I lease my vacation home to my business year round?
| Posted: 09 Nov 2020 09:57 AM PST I'm looking to invest in a SFH and rent it out by the room to students at a local University. Anyone have experience in this. Did you put more money aside for maintenance. How are student tenants? [link] [comments] |
| Am I getting hosed by this lender?! Posted: 09 Nov 2020 08:02 PM PST This just seems so much higher than I anticipated. Almost $7000 for a $113k loan. 😳😑🤬 Here's a link to a screenshot of the CLOSING statement, after we've already gone back and forth. https://imgur.com/gallery/1kIQRuk What can I do about this?? Do I have to walk away? It's been about 6weeks of back and forth. So frustrating. [link] [comments] |
| Free FSBO listings with owner phone numbers (other than Zillow or Craigslist)? Posted: 09 Nov 2020 08:46 PM PST Hi, folks. Is there a website where I can get phone numbers of sellers, for free, who are selling their FSBO's besides Zillow and Craigslist? Thanks in advance. [link] [comments] |
| Out of the loop. How are HELOC and refi's done nowadays with the pandemic? Posted: 10 Nov 2020 12:26 AM PST For example, how are closing docs and appraisals being done nowadays? [link] [comments] |
| Posted: 09 Nov 2020 05:46 PM PST Hey everyone! Im about to make my first investment property purchase. It is a 3 unit all 1 bed and 1 bath total annual rent of 28,000. The property has nice parking and is in pretty good condition. Located in New Jersey (south to be exact) pretty close to delaware and philly. The seller agreed to sell the property for 215,000. I have done the investigation and it seems the mortgage would be around 1,600 max. Do you think this is a good deal? Thank you in advance! [link] [comments] |
| First time using a property manager. Is this normal? Posted: 09 Nov 2020 07:55 PM PST Small-time landlord, only 11 SFRs properties in my portfolio. The past 5 years, I have self-managed and had never had a property on the market longer than 2-3 weeks in my area of investment. However, my family and I decided to move out of state and felt like we needed to hire a property manager to slowly take over the portfolio. It has been challenging and extremely frustrating. Properties under their management have taken easily 10-15% loss in gross rent + taking almost double the time to rent at like 4-6 weeks. How normal is this? I hired one and fired one this summer and this new PM is now following a similar pathway. I am beginning to think this is the norm for working with PMs, has this happened with you? I love real estate, but starting to have serious doubts if we can scale to large properties with such bad PMs and thinking about either selling or finding a way to still self manage from out of state. Any suggestions on what to do or if you have this experience too? [link] [comments] |
| Posted: 09 Nov 2020 08:43 PM PST Is this a real insurance that people actually need? Paying over $1000 for insurance I don't understand is very irksome. [link] [comments] |
| Posted: 09 Nov 2020 12:25 PM PST Hi all - Trying to find a new provider of homeowners insurance. My current policy is with Proper Insurance and is jumping from about $2300 to about $2800. Wondering what you guys with STR's use for your setup? Thanks! [link] [comments] |
| Act 60 (act 22 or 20) in Puerto Rico Posted: 09 Nov 2020 06:20 PM PST Does anyone have any knowledge or experience using act 60 in Puerto Rico for real estate investments? I'm currently in the research phase of this. [link] [comments] |
| Investing in my first property(out of state)- What do I need to know Posted: 09 Nov 2020 09:45 PM PST Hi all, Came across a good opportunity to purchase a home in eastern washington. It is in a very sought after neighborhood where homes are seldom for sale(none on the market currently). My mother knows the owner well and he is getting ready to retire(in his early 80s already) and wants to get rid of it, as he lives in Idaho and rents it out. He hasn't listed it but told my mom and she has known ive been looking for a rental. I live in Los Angeles but my mom and family all live there, thus I have a great network of people for maintenance and things of that nature. No issue flying up if things come up(I'm a remote worker even in non covid times). My income is about 150K and feel comfortable in the range of house. My fiance makes 100K so once we're married this morgage represents a small portion of our income. House is 160K and rents for about 1100- 1200 a month (I had my mom go door to door nearby and see who was willing to share their rent price and cross referenced online). I've done my due diligence and have researched the area and market and very confident in the risk/benefit ratio, however I have no experience. Should I do a 15, 20 or 30 year loan? Any additional advice is appreciated! [link] [comments] |
| Cash from construction escrow ? Posted: 09 Nov 2020 05:41 PM PST So all you smart people out there. Any clever ways to maximize the construction escrow funds? I was disappointed to learn they would not reimburse for tool purchases. I want to get some barn beams from my neighbor but now I'm worried they won't cover that cost since he's not a wooden beam business, just a guy with a barn coming down. Construction to perm in NYS if that matters. How do I milk an extra porch or a few dozen pallets of flooring that weren't on the original task list? Any other inside thoughts on this weird kinda loan? [link] [comments] |
| Renting from yourself (sorry if this isn't the best sub to ask) Posted: 09 Nov 2020 11:41 AM PST I'm in the process of refinancing the duplex I own. The appraiser came out last week and asked if I paid myself rent for the half that I live in. I said no, as it had never crossed my mind. But now it has me wondering if I should. I don't think there would be benefits tax wise while I live here now (I could be very wrong). but I do see a future benefit of if I look to buy a second property (a new primary residence). That if I could show both half's rent for x amount it would be easier to apply for a loan on new property The property is not currently set up as an llc. [link] [comments] |
| Question regarding sale of rental and avoid cap gains Posted: 09 Nov 2020 03:10 PM PST Hey there - My wife and I have a rental that has appreciated very quickly in value and we would like to sell it. Rather than reinvesting the cash into more rentals, we are looking to pull it out - so a 1031 is not an option. As most of you likely know, cap gains can be avoided by converting the property back to a primary residence and using it for 2 out of 5 years. We lived in the house 2 years ago and would be selling in the next 6 months. Question: If we lived in the house, vacated to make it a rental, and then sold it, would a cap gain tax be triggered since we fulfill the occupancy for 2 out of 5 years period as a primary residence? [link] [comments] |
| Posted: 09 Nov 2020 12:44 PM PST My parents are accredited investors and would like to transfer their shares of an investment to me. The PPM does allow transferring to family members. Since I am not an accredited investor we weren't sure if this would make the transfer untenable. I wanted to ask for help how to find this out, if its something in the PPM or a relatively easy question to answer. [link] [comments] |
| Residential Land-Source of side income Posted: 09 Nov 2020 07:28 PM PST My family has some land that we will eventually build a house on, however we have decided not to yet. The property is in a residential area and is about an acre and a half. Is there any way I can monetize this land until we are ready to build on it? The land is a hilltop property with a level area. Because it's in a residential area, I am guessing it is also zoned residentially. We are currently still paying on the land. If you have any more questions regarding the land please let me know, thank you. [link] [comments] |
| Can I convert a vacation home into a rental? Posted: 09 Nov 2020 12:14 PM PST I own a primary residence in Seattle as well as a few rental properties. I'm considering buying a vacation home in Tampa. I'm concerned about having it empty most of the time, can I rent it out on ABNB or similar when not in use or would I have to buy as an investment property? [link] [comments] |
| Posted: 09 Nov 2020 06:49 AM PST There are a lot of places in the US that are considered investable either for appreciation (NYC, LA, etc.) or for cashflow (the Midwest, small growing cities, etc.) I've seen a lot of discussion about these places on this sub but never about rural areas other than people saying, "expect longer vacancy times if you choose to invest." There exist many very rural areas and communities where most people own at least 2-3 acres and can't really see their neighbors. The nearest grocery store is 15+ minutes away and a trip to the mall is a whole day event. Maybe there is some hiking or fishing that attracts people to that area for seasonal recreation. I suspect the type of person who invests in a place like that doesn't spend a significant amount of time browsing this sub but maybe there is someone out there who can answer some of these questions. -Does anyone have experience investing in these places? -Why would you or wouldn't you invest there today? (assuming there aren't any major changes that happened like a car plant being built) -Do you do any marketing/ advocating for the town as a vacation destination? -Is there any reason to invest in such a place? (Short term rentals are probably doing well because of the pandemic but what happens post covid)? -Do you think the pandemic and people wanting to be further away from others for vacations will be something that sticks? Or is this just the vacation of choice for the next year? Thanks for your thoughts. [link] [comments] |
| Posted: 09 Nov 2020 01:17 PM PST My real estate agent put in a contingency rider that says basically "Whatever price the house appraises at both the seller and buyer agree to pay." She did this because our market is very hot right now and the property I am trying to buy is worth between $260K-350K. She said she has never seen a sellers agent accept a contract with that rider in it, but this one did. Comps in the area:
Both of these places are in the same neighborhood and just sold this year. The seller agreed to my price of $310K with that appraisal contingency. The way we figure it the odds of the appraisal coming in higher are far lower than it going lower, and me getting to pay even less. The numbers work even if it comes out on the high end, so the gamble seems worth it. Has anyone else ever rolled the dice in this way? [link] [comments] |
| Implications of purchasing a home with multiple people Posted: 09 Nov 2020 04:29 PM PST I'm looking to buy a home, with 4 other people making active payments toward the mortgage. Essentially, I'm looking to allow my family to rent it from me, and take the profit from them renting it from me, and allocate the profit into investing into further real estate. I won't go into the details of that part, I'm just wondering if there's a real way to launch myself into things doing it this way. I do not at all have the capital to put $10k down. I know first buyer programs are out there which help minimize the down payment. I'm relatively a part of the working class, looking to get out and push myself into middle class society. I want to basically have it so when I try to get pre-approved they can see that multiple people are trying to be financially part of the mortgage. I don't know the terminology, but I hope some of you know what I'm saying. [link] [comments] |
| Multifamily - Lease Recommendations Posted: 09 Nov 2020 04:23 PM PST Evening y'all, We've got a few units here in SoCal and are looking to invest in a strong (big boy) lease. Currently, we're using the standard AOA 2-pager, but would like something a little bit more comprehensive. This lease from California Association of Realtors is $800, and we are strongly considering going for it: https://store.car.org/collections/a-z-print/products/lr-residential-lease-month-to-month-rental-agreement Multifamily/Apartment owners, have you used any lease templates that made you say, "Boy was I glad I had that clause!" and saved your behind more times than not? If so, I'd love to hear your recommendations! [link] [comments] |
| Investing in Apartment, Condo or Townhouse Posted: 09 Nov 2020 04:00 PM PST Got 20% downpayment saved up for small property (upto $200,000) Looking to buy a 1 bed/1 bath or 2bed/1bath. Planning to be in Philadelphia for atleast next 3 years and thinking of just buying a property instead of paying $1,000 mortgage. There are apartments which are 150,000 but the maintenance fee seems to be high (300 monthly). Anyone rented condos and apartments? If I get a condo, will I be able to rent it out later? When I move out, it will be a long distance rental property. I will move to another state after 3 years and do they charge higher property tax and extra charge? This is the 1st time investing in a property and so lost. [link] [comments] |
| Vacant College Rentals: Hold until next semester? Posted: 09 Nov 2020 03:43 PM PST Hi there, Unsure if anyone has experience with this. Recently closed on a unit near a local campus that was previously rented to students. I'm struggling to get showings at 75% of what the rent goes for when students lease in the community. I'm debating leaving it vacant until the semester starts and take my chances vs. getting it rented now for a fraction of the cash flow. Has anybody had similar experiences? If so, how did it work for you? Did you get many prospects before the spring semester? Or do they really all come in during the summer for the full school year? [link] [comments] |
| Atlanta Georgia market question Posted: 09 Nov 2020 03:38 PM PST Hello all I have recently have gained interest in the Atlanta market for real estate investing.. I'm looking into the areas west of Atlanta into the suburbs for a BRRRR. The questions I have is what would be the typical vacancy rate for housing in the Atlanta market? Is it hard to find renters for a 3+2 houses or 2+2 houses? Also, if your in investor how has been your experience in the market? [link] [comments] |
| Can I lease my vacation home to my business year round? Posted: 09 Nov 2020 03:05 PM PST I'm purchasing a vacation home/rental property. I own a business that's run remotely (from home). Is it legal to lease this vacation home to my business for market rate year round? I would actually work a significant amount at this property. My business is currently headquartered at my current home, so I don't see why having it headquartered at another home would be problematic. I'd love to hear opinions on this matter because I need to sign the contract on the new property tomorrow! [link] [comments] |
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