Real Estate Investing: Are operating costs lower on a multifamily rather than a single family ? |
- Are operating costs lower on a multifamily rather than a single family ?
- Cozy.co life pro-tip
- When it makes sense to buy instead of rent
- Wholesalers, what software or services do you use?
- Renting
- First time buyer
- Looking to purchase a property with an FHA loan in the new year. I only make around $23k a year.
- House is livable, needs a lot of work. Is it a decent investment? (Philly suburbs)
- Real estate investing with student loan burden
- 40K to invest in a multifamily in Cali
- Short term loan rates?
- Buying a 3rd property - need tips
- Some advice
- Best Property Management Software?
- Capital Investment companies... what to ask and what to look out for?
- Few questions for veteran RE investors
- multiple owners
- Canadian rental software
- Best way to start an empire
- How is a mortgage in my name and title in an LLC not mixing personal with business?
- Tips for first rental property, out of state. Morgage, tax implications, etc
- Best Markets for Out of State Investors
- Why some cheap condos have a very high HOA fees?
| Are operating costs lower on a multifamily rather than a single family ? Posted: 15 Nov 2020 03:38 PM PST I do not live in the US but trying to figure out some math here, so most people I've talked to say spend around 25-35% on operating expenses, before taxes of course, which is significantly lower than you guys are saying. However, these people own apartments in big buildings where there's less things to break or maintain (i.e. a multifamily with 100 doors only has one roof, 100 single family houses have 100 roofs to repair, so more costs). Do you think that is the case ? Also, can someone check out my basic math ? 100 doors at 100k each 1.2 million a year gross 2million down (20%) (plus closing costs and rehab, I know) 360k mortgage 420k expenses (35%) 420k left before taxes 20% cash on cash [link] [comments] |
| Posted: 15 Nov 2020 04:12 AM PST I've seen this a LOT of times in this sub, and I think this will help people. If you want Cozy.co as an app on your phone, all you have to do is create a browser shortcut and then it looks/feels like an app. I don't know the exact steps on Android (it is possible there as well), but here is iPhone. 1) navigate to cozy.co in Safari. 2) hit the share icon 3) scroll down to find 'add to Home Screen' This will create an app on your iPhone that is searchable, has the right icon, and usable like all your other apps. It's actually quite handy instead of needing to navigate to it yourself, and the UI is designed to look good this way. Hope this helps! [link] [comments] |
| When it makes sense to buy instead of rent Posted: 15 Nov 2020 08:01 PM PST I've been trying to compare which route saves more money in the 3-5 year term. It seems that with all of the extra expenses of owning a home and mortgage that renting and saving money is more beneficial in the 3-5 year term, maybe even longer. Renting is usually just a bit higher than a typical mortgage payment in a typical market. You pay for rent, renter's insurance, and utilities. For owning a home that you are financing: you pay (not counting the down payment since that is equity) closing costs, home insurance, likely some other type of insurance like flood, likely HOA of some kind, utilities, personal property tax, maintenance, lawn care, and possiblity of some type of security system. With a typical 30 year mortgage with 20% down or worse, homeownership seems like a big money pit. For many of the first years, most of the payments go towards interest and even with a decent interest rate, you end up paying well over 100k in interest. From some research, it looks as though home values are really just moving with inflation, so when you have an old family member that brags that they bought 20 years ago for X and just sold for Y, the difference is a lot at face value but in reality the property value stayed the same when adjusted for inflation. Am I missing something here?? I've always heard buying is better than renting but I just cant see the numbers justifying this. I mean if you are an all cash buyer then yes I get it but other than that it seems like you are better off renting until you can buy in all cash... You could get a better deal AND pay no interest. Sorry for the long post, just trying to figure this all out as I want to invest and own but it doesn't seem to make sense.... Dont hate me homeowners [link] [comments] |
| Wholesalers, what software or services do you use? Posted: 15 Nov 2020 05:38 PM PST Recently pulled a phone list via natimark but hand writing every text is way too slow. What services do you use to streamline cold text? I was thinking of signing up for Batchleads.io and using their skiptracing/texting services. Was going to use Natimark and Propstream to get my list. Any other services that would help me? [link] [comments] |
| Posted: 16 Nov 2020 01:40 AM PST I'm 17 and I've just recently been researching ways of investing my money. I wanted to learn as much I can before I turn 18. I've been doing a lot of research but can't find just a straight to the point yes or no answer. My question is do you need to have a real estate license to rent out properties, what are the legal requirements to do so? I appreciate any help thank you! [link] [comments] |
| Posted: 15 Nov 2020 05:03 PM PST I've been doing some thinking and coming to the conclusion that purchasing a single family property is probably best for my current goals at hand, this would be the more beneficial move. That being said, what would you guys say are important things to look at when when purchasing a single family home? I have saved up about 10k so far and have seen some decent homes that have some potential for improvements. I would like to do some some renovations myself being that I'm pretty handy. [link] [comments] |
| Looking to purchase a property with an FHA loan in the new year. I only make around $23k a year. Posted: 15 Nov 2020 10:53 PM PST I'm scoping out different areas around the US for my first real estate investment, preferably a triplex or quad, but I wouldn't mind a duplex depending on the situation. My goal is to find said property for no more than $175k in move-in condition. I would of course be living in one of the units and renting out the others. I currently make around $23k a year, which I know is low, but I am saving some money and expecting help with the down payment once my parents sell their house. I was seeing if anyone on this thread has any success stories/advice on getting approved for something like this while having such a low income. [link] [comments] |
| House is livable, needs a lot of work. Is it a decent investment? (Philly suburbs) Posted: 15 Nov 2020 10:24 PM PST Recently came across a customized house in a nice-ish suburb of philly. im looking to move to the area and was thinking i could live in it and work on it over time (2-3 years). The realtor (seller side) mentioned they were going to buy the property themselves but the cost to repair+current selling price+sellers costs will exceed the house's price within 2 month period she was planning on flipping it for. She thinks its good for a rental or if you want to live in it and work on it over time. She seemed really honest but since she's on seller side i am a bit skeptical. it has also been listed for some time. I do think I can get it for 10% below listing price, but even though its definitely more than suitable for living, it will need a lot of remodeling if i were to sell it in 2 years or so. i guess my question is if i am planning to live in a house is it better to buy a house like this or is this more of a nightmare in a disguise? Also, what is a good way to get estimate costs of rehabs? [link] [comments] |
| Real estate investing with student loan burden Posted: 15 Nov 2020 08:49 PM PST Hello I'm a resident doctor who will start working next august. I want to get into real estate investing and reading as much as I can. The only thing I'm afraid of is a bank not giving me a mortgage due to me a having student loan debt. And if they let me do it one time, will they let me do another. My salary will be $244,000 before taxes with a 15k yearly bonus. My current loan is 270K$ and payments are about $2500 per month that will be paid off at 7 years through public service loan forgiveness. I have no cars and not planning on buying one. Would this be viable? Will banks let me carry multiple mortgages? I also plan to buy a duplex, live in one and rent the other space. [link] [comments] |
| 40K to invest in a multifamily in Cali Posted: 15 Nov 2020 08:40 PM PST Planning on pulling the trigger on using an FHA loan on a triplex/duplex in California. Live in for a year and then rent again Wanted advice on what I should expect? I am currently in the medical field and plan to stay in Cali for another year before leaving for a state where I am not taxed and low cost of living. What would you do with 40k available for RE investment? [link] [comments] |
| Posted: 15 Nov 2020 08:22 PM PST Does anyone know what kind of interest rates you might find with short term loans (3-6 months) in the $25-50k range? I'm looking to get into private lending as I have a few potential opportunities available in the near future. I would like to know what interest rates and fees are in this type of loan market. [link] [comments] |
| Buying a 3rd property - need tips Posted: 15 Nov 2020 09:19 AM PST I am looking for tips on buying a third property. Financing qualification, management tips, managing all this debt, etc. My first property is an investment property duplex. Top floor and basement are rented. My second property is my primary residence I own jointly with my girlfriend. The basement is rented. Have a good job in construction paying $90k a year. Located in Toronto, Canada! My goals aren't to be a developer or anything. Just for financial freedom. I appreciate your time and all your help. [link] [comments] |
| Posted: 15 Nov 2020 07:29 PM PST So I read somewhere that if you are to put your money in the stock market, if you plan on putting it in for five years then its more of a gamble than investing. [link] [comments] |
| Best Property Management Software? Posted: 15 Nov 2020 10:19 AM PST I am planning to purchase a 10-15 unit multifamily building and want to make the property management process as automated/efficient as possible. What strategies and software does this subreddit use to make management as time-efficient as possible? [link] [comments] |
| Capital Investment companies... what to ask and what to look out for? Posted: 15 Nov 2020 06:56 PM PST Hello everybody, I have come across an investment company based around real estate, essentially, like other you may have seen online, if you have [X] amount of capital, you can invest it with them and after 6/12 months you get initial investment + [X] amount back ontop. Any resources regarding this topic & any advice / recommendations are greatly appreciated, starting with how can I do my own due diligence on the company to ensure it's legitimacy with the state down to what to look out for as an investor & what questions can I ask this company. [link] [comments] |
| Few questions for veteran RE investors Posted: 15 Nov 2020 11:43 AM PST I've done some RE investing back in 2007 with mixed success. Couple of things I learned
Any comments or suggestions on how to mitigate both of these issues? I am a bit more secure financially then I was in 2007 and thinking of getting back in. [link] [comments] |
| Posted: 15 Nov 2020 11:41 AM PST Two friends trying to buy an investment house.. is it possible to have mortgage and title together ? And how tax will work out ? We are not planning to form an LLC/C-corp and willing to explore above option. [link] [comments] |
| Posted: 15 Nov 2020 06:25 AM PST Hi there, just wondering if anyone out there has any good rental software available in Canada. I noticed a lot of US has great features such as credit checks, receiving rents, tracking expenses etc. Is there something like this in Canada anyone uses [link] [comments] |
| Posted: 15 Nov 2020 04:10 PM PST Hi everyone. Currently business is going well. My biz partner and i are clearing average $50k a month each. I want to diversify my investments. Real-estate is one of my objectives. My goal is to put aside $15k a month (30k including my partner) and begin building an interesting portfolio. However, im a newbie to being a landlord. I wanted to hear everyone's opinion on how best to start: Option 1: start by buying single family homes up to triplex's every couple of months in neighbouring locations. This would allow us to start small, spread our risk and make it easier to negotiate deals on upkeep. Option 2: put a larger sum into buying a bigger building. For example: a 12 unit complex. Where it gets fuzzy for me is deciding on putting all my eggs in one big basket or making smaller buys. Edit: my goal is to continuously expand the portofolio. I dont need the properties to be cashflow positive. Break-even is fine by me as well. End goal: either finish off paying the mortgages and collect pure profit, or sell them off after appreciation (i.e after 10 years) to generate cashflow to buy bigger properties. [link] [comments] |
| How is a mortgage in my name and title in an LLC not mixing personal with business? Posted: 15 Nov 2020 08:14 AM PST I've read a lot about how you can get a mortgage in your own name and transfer the property to an LLC. But why isn't this considered commingling funds? Wouldn't this make it easier to pierce the veil? [link] [comments] |
| Tips for first rental property, out of state. Morgage, tax implications, etc Posted: 15 Nov 2020 08:00 AM PST Hi all, Following up on my previous post, as ive now spoken with the landlord and confirmed some details. I live in Los Angeles and looking to buy a home out of state where my mom and many other family members live. In a sought after neighborhood and the house isn't listed yet, as I found out from my mom's friend who is the neighbor. House is 160K. Very low vacancies in this area and not concerns about finding a tenant. The current one has been there 17 years so i could either continue with them or find new ones. My income is about 150K. No debt and credit score of about 760. 29 years old. A few questions:
This would be by first property so im admittingly nervous. Any other tips are appreciated! [link] [comments] |
| Best Markets for Out of State Investors Posted: 15 Nov 2020 07:36 AM PST For those of you who do out of state real estate investing, what markets do you invest in and why? [link] [comments] |
| Why some cheap condos have a very high HOA fees? Posted: 15 Nov 2020 10:01 AM PST I'm looking for a condo thru Redfin app. I see many nice cheaper condos for $120-$150k with high $700-$900 HOA fees. While similar condos in the same area sell for $210k+ with regular $300 HOA fees which is making more sense. Both about the same utilities, no pool, no gym. Which one is better buy? I also see $90k retirement condo with $1000k+ HOA fees, which is make sense but not my question. [link] [comments] |
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