Real Estate Investing: Anyone used a physician mortgage loan? Not sure if I got a good deal |
- Anyone used a physician mortgage loan? Not sure if I got a good deal
- Saving up for a rental
- Is our plan even possible?
- Need advice for a beginner!
- Software
- Electric Not To Code/HVAC Not Working/Termites Counter Offer Help
- Starting a Property Management Company
- Should I buy a primary house or invest out state?
- Anybody ever use loandepot for a mortgage?
- Planning on buying my first home to rent out in the future
- Loans for condos ~ 100k
- Working from home for 1.5 years, live in North jersey. Looking to buy 2-3 for house hack, should i buy else where or stay here?
- Experience w/ financing for ski vacation rental (STR)?
- question: if someone wanted to buy a neighbors property and put a pool in the yard then give an easement or property rights back to the original property and put up a fence. then sell the neighbors property is this possible? is there a way to confer rights to the yard to adjoining properties?
- Inheriting tenants with no information on them
- Impact of CA Prop 19, Reassessment of inherited property for tax purposes
- Short term to Long term outlook on a town that is becoming a ski/resort town. What are your thoughts? Does any one have any perspectives on this?
- [FL] How is it possible to own the land a public road is on?
- Buying a new vs older home
- Question about FHA/Conventional Loan for investment property
- Frugally looking for a good electronic front door lock that can be accessed on the phone? What do I need to do?
- First time buying a house and need help
- Should I Purchase Owner's Title Insurance? What Would You Do? Is It Worth The Cost?
| Anyone used a physician mortgage loan? Not sure if I got a good deal Posted: 05 Nov 2020 05:05 PM PST Has any one used a physician mortgage? I got a rate of 3.125% for 800K with 10% down, but that also includes "mortgage insurance". I thought the whole point of a physician loan is not having to pay a mortgage insurance? I might as well save up for another 6months for 20% down and go with a traditional mortgage, and probably get better rates too? [link] [comments] |
| Posted: 05 Nov 2020 02:03 PM PST I would like to save up to purchase a rental. Figure I will put money in reit fund until I have enough. What index fund should I use? [link] [comments] |
| Posted: 05 Nov 2020 05:19 AM PST Hi guys, so me and my fiancé are eager to start our lives together, so we decided to marry civil and postpone our wedding til the end of 2022. We want to get our first property and are looking into a multi family house. Our original Plan was to use my VA loan to acquire my first property and then use her FHA loan to acquire our second property. I am currently in the loan rehabilitation program my student loans and should be back in good standing by June 2021. It seems to be the only thing that is inhibiting my credit score. With everything going on she feels why wait for my credit to improve if hers is excellent. She has a +700 credit score and her income is 80000. My credit score is currently 590s and my income is 75000. Because of my credit score, we are considering having her name only on the mortgage application. Our income together would likely give us a larger loan but unfortunately my credit score could inhibit a decent loan or a loan at all until it's repaired. My question is It possible for her to be approved for enough of a loan to even buy a multi family? Keep in mind we live in North Jersey which is it pretty expensive place to live. So far, any calculator we have use doesn't even come close to even buying any type of property with just her information.I can't seem to find a solid answer on mine so that's why I'm here. Any information could help thanks guys in advance. [link] [comments] |
| Posted: 06 Nov 2020 01:21 AM PST I've been saving and saving for the last few years. Managed to come up with about 15k. I would love to use it to get into real estate and just start with one cheap rental property. I live in the Midwest so smaller decent single family houses go around ~100k. I bought my first home back in February for myself so I'm a little bit familiarized with the home buying process, but the whole rental side not so much. I want to pull the trigger and get started but I'm not sure if I should continue to save another 10 grand or so for all the inevitable costs that will jump out of no where. I just need some guidance. I don't really know anybody to pick their brains on the subject, so most of my info is coming from YouTube and Reddit. I really want to get into this and I feel like it'd be a smart move, but I also feel like I could shoot my self in the foot if I go about this wrong. So just any advice or general direction would be much appreciated! [link] [comments] |
| Posted: 06 Nov 2020 12:48 AM PST Is there any software like property radar or property source that's free? [link] [comments] |
| Electric Not To Code/HVAC Not Working/Termites Counter Offer Help Posted: 05 Nov 2020 05:55 PM PST Hi All, I am under contract for a 70s brick ranch for $165k 3bd/1bth 1100 sqft that will rent for $1,200. Property is on a slab. It was priced low IMO and I offered $165k ($20k above asking). During the inspections (home, pest, septic, electric) several issues came up and I am curious for everyone's input on what my counter offer should be. The roof/water heater/HVAC/Appliances/Flooring are all new but, HVAC is not functioning and is not up to code. Below is a breakdown of some costs to repair. Termite Treatment(damage appears minimal but I may never know full extent of the damage): $1100 New Electrical Work (house has aluminum wiring and NOTHING is up to code): $12k HVAC (New, but not functioning or up to code): ???? Seller has already started working on this and I plan to require this be resolved before close. Gutters: $2k Misc Interior work: $4k Misc Exterior Work: $1k I do not want the seller to hire their own contractor for these fixes. Most of the issues are due to the age of the home (electric) and shoddy handyman work/install plus the unknown about the Termites. The house cash flows well at $165k but, I am not looking forward to putting nearly $20k of work in a house mostly to fix poor elect and contractor issues. The good news is the house did appraise for the asking price. But with the electric and termite issues now I feel that after my repairs the ARV might be $170k. So minimal return on my investment. Based on this information what would be a fair offer in your opinion? [link] [comments] |
| Starting a Property Management Company Posted: 05 Nov 2020 10:57 PM PST Hello Redditors! A few weeks ago I left my job of being a Commercial Property manager. It was time to leave and my mental health in that particular environment was starting to wane. I managed 10 commercial properties locally and out of state with very minimal help. (literally I asked for help and was denied…o well) I had 2 maintenance guys in only 2 markets and contracted local vendors for the other out of state markets. Total square footage of what I was managing was about half a billion sq feet. So yea some major huge properties. I was responsible for tenant relations, tenant collections, budgets, vendor bids, property inspections, backflow, fire testing, reconciliations you name it. The only thing I did not do directly was apply charges to tenant accounts (conflict of interest) and the annual CAM billings (pertains to commercial real estate) EVERYTHING Else I did. I really invested in educating myself while I was employed and trust I can do this on my own, I would take on what I could handle. ( I wouldn't do it the way the company had it set up until I could contract other PM in other states,) but need guidance on getting started .Redditors who have a property management company (residential or commercial) · how did you secure your first deal? What type of property? · How did you find the property owners? · Was there a certain time frame you contracted (ie a year, 6 months, 5 years) · Traditionally in CRE PM fees are a percentage, did you go this route or did you ask for a percentage of revenue? If so what percent. If my memory serves correct I think I remember 4% · Residential PM's how many rental homes min do your clients have? Do you charge a percentage or monthly fee? What are your responsibilities for residential? · Software recommendations? · Marketing? Brochures, where on the internet? Thanks in advance for the replies! [link] [comments] |
| Should I buy a primary house or invest out state? Posted: 05 Nov 2020 09:50 PM PST I currently live in a little 1bed apartment and would like to purchase a primary residence but because I live in a HCOL area I would need to give a big down payment to help keep the monthly payment affordable.. I have gotten interested in remote BRRRR but that requires funds I would have otherwise used for a down payment on a primary residence. What be the most efficient way of using funds to accomplish both my goals? I would be putting about 20% on my primary if I chose this option..bty I'm not interested in buying a multi family in my area as there not in decent areas and need extensive work. [link] [comments] |
| Anybody ever use loandepot for a mortgage? Posted: 05 Nov 2020 09:29 PM PST Anybody ever use loandepot.com for a mortgage? If so, how was your experience? Looking for an unbiased review of the company before I fill out their application and give them all my info. Thanks! [link] [comments] |
| Planning on buying my first home to rent out in the future Posted: 05 Nov 2020 08:58 PM PST Hey guys ill try to keep this in point form -27 and single with a kid -pre approved for 280k mortgage but want to put 20k down and have 5k saved -looking at smaller detached homes or duplexes 2-3 bedrooms -is it smart to get a somewhat fixer upper where the upstairs is livable but downstairs is kind of a mess and rent out the top floor/rooms while i take the basement for a year or 2 and save up for renos then keep moving on to a new property when i have a good downpayment and im able to rent out the whole house [link] [comments] |
| Posted: 05 Nov 2020 01:22 PM PST Hi is it possible to get loans for condos worth 100-150k? I talked to a mortgage lender near me and they told me the minimum loan they would do is 150k because of the costs to underwrite. Do I have to go to third party to get a loan for eg 80k with me putting 20% down? I'm considering both condos and houses for investment. Thank you. [link] [comments] |
| Posted: 05 Nov 2020 07:07 PM PST My job just told me ill be working from home for 1.5 years. So i have a good amount saved for a house, a 2-3 unit. I live in paterson nj, should i buy in NJ now using conventional loan 5% to 20% down? Or move to a cheaper state? [link] [comments] |
| Experience w/ financing for ski vacation rental (STR)? Posted: 05 Nov 2020 09:54 AM PST We're looking to buy a 450-600k ski condo and use STR to subsidize our use. We recently learned that it's very hard to secure conventional 30-yr financing based on Fannie/Freddie financing guidelines for investment properties in ski areas (front desk, commercial space, STR use, etc.). Lenders are offering 5/1 ARM at 3.750%, 7/1 ARM at 3.875%, or 15-yr at 3.25% -- all with 1.5% origination and $950 lender processing, among other closing costs. ARM seems terrible given the current historic low rates and likelihood that rates will increase in 5 or 7 years. 15-yr payment is too high to get anywhere close to cash flowing. And the 1.5% origination in all scenarios is a tough pill to swallow. We recently refinanced our primary and an investment property w/ no origination, rates at 2.75 and 2.25%, and even lender credits. I'm a little dismayed at the proposed financing. Does anyone have experience in this area? Does the proposed financing sound about right? [link] [comments] |
| Posted: 05 Nov 2020 05:50 PM PST |
| Inheriting tenants with no information on them Posted: 05 Nov 2020 11:06 AM PST Hi everyone! I just bought my first investment property which is a duplex in a B/C class neighborhood. I am inheriting two tenants that I know nothing about and don't have a written lease. The previous owner said the agreements are all word of mouth and they have always paid on time. One is month to month and one has a verbal agreement to rent until June 2021. When you inherit tenants, do you always redo background check (criminal, eviction, etc) and make them sign a new lease? Or what standard process do you usually take when inheriting tenants? Thanks in advance! ***Edit: we haven't closed yet, closing is I'm December. It's contingent on an inspection so I still have time to back out. From comments though I'll be making the tenants sign an estoppel before closing. Thanks [link] [comments] |
| Impact of CA Prop 19, Reassessment of inherited property for tax purposes Posted: 05 Nov 2020 12:33 PM PST Hi all. For those in California, Prop 19 looks likely to pass. This means, real estate passed down by family that is not used as a primary residence will be reassessed for property tax purposes. Was wondering if anyone has any ideas for limiting the impact on this situation. For example, transferring property to or from family before this becomes actual law (February 2021 I think), or moving into inherited property as a primary residence for ___ amount of time so Prop 19 does not apply, or transferring property to an LLC or entity prior to February 2021? I have no idea, but just brainstorming out loud. Thanks. [link] [comments] |
| Posted: 05 Nov 2020 01:36 PM PST Im trying to understand what stages a town goes through when it becomes/morphs into a ski town and how that affects the real estate market. For example a place like Whistler, BC, Canada. It seems that by now its a very pricy resort town for Skiing in the winter and mountain biking in the summer. About 10 years ago the sea to sky highway was built for it during the 2010 Olympics and that helped drive the prices up. If you take a small town with a ski hill and start developing it. Trying to turn that town into a ski resort destination. What would be your short term (<10 years), medium term (20-25 years) and long term (25 + years)? Has anyone lived in a town like this in Canada/States? How did it work out for you as an investor? as a resident of the town? Edit: Interested in both, Commercial and Residential real estate [link] [comments] |
| [FL] How is it possible to own the land a public road is on? Posted: 05 Nov 2020 12:56 PM PST I've been perusing some county tax sales and have seen multiple unbuildable lots for sale that appear to be the public road. For example: https://www.manateepao.com/parcel/?parid=5886800109 How does this work? Does the city/county/state not own the land their roads are built on? [link] [comments] |
| Posted: 05 Nov 2020 09:55 AM PST I am based in san diego and am looking to buy my first home that I might sell off in 5-8 years. The california house code changed last in 80s and the houses built after that follow the code. However the dilemma I have is to whether invest in a relatively new home vs old home. Old homes in the zip code I see are bigger but are atleast 25 years old (~95 built). Newer homes are smaller and just as costly. I am curious of what will be the best investment here in terms of resale value and also maintenance. It is a no brainer that new ones have less maintenance but is there more to this? Do old houses not appreciate as much as newer ones? Any thoughts? [link] [comments] |
| Question about FHA/Conventional Loan for investment property Posted: 05 Nov 2020 08:34 AM PST I am about to purchase an investment property with a conventional loan. Would i be eligible for an FHA loan for me second investment property? Thanks in advance [link] [comments] |
| Posted: 05 Nov 2020 08:24 AM PST |
| First time buying a house and need help Posted: 05 Nov 2020 08:05 AM PST So, I've been doing a lot of research on buying my first property. I've decided a FHA loan would fit me best. I'm trying to figure out the best way to go about doing this. Currently my girlfriend and I live in an apartment and we've decided we do not want to pay someone else's mortgage and start investing into real estate. We see the potential and happiness it would bring to us. We don't really have any investors near by to get questions answered or guidance. How do I go about getting pre-approved for a FHA loan? Is there a specific place I need to go for a FHA loan? Is there a universal procedure when looking for a house that will produce the best numbers for a flip and potentially a rental? If anyone is interested with helping a lad out with the new adventure please let me know! [link] [comments] |
| Should I Purchase Owner's Title Insurance? What Would You Do? Is It Worth The Cost? Posted: 05 Nov 2020 06:33 AM PST Hi everyone, Throwaway account for obvious reasons. I am facing an interesting situation with Owners Title Insurance and would love you to weigh in with your opinion. Here are the facts:
Here are the subjective pieces to the puzzle:
I head to closing tomorrow and could not be more excited. If you were in my shoes, would you purchase the optional Owners Title Insurance? I am putting down a good chuck of my money to purchase this property and would like to save the $1350 if possible. If I am being incredibly dumb, say so. Thank you so much for your guidance. [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