Real Estate Investing: Biggerpockets making you pay for tools that were once free? |
- Biggerpockets making you pay for tools that were once free?
- Buying 2nd owner-occupied property
- Buy investment properties now or wait for the market to lower?
- Should I buy starter home with plan to rent it in few years vs bigger home
- Local or out of state investment properties?
- How does a short sale affect the buyer?
- Should I invest or buy a primary residence?
- What Are The Best And Worst Parts Of Real Estate?
- Newbie Alert
- What to present to investors in a Property Pitch
- Helping a contractor start out
- Mortgage related question
- Is this a good deal?
- Are these interest rates high?
- What's your 'driving for dollars' sales pitch?
- Inventory process/tools for fittings and furniture.
- Commercial Brokers for LOC
- Is there hope to own a multi-unit???
- Should I take a loan for Renovations
- How does a 17 year old get started investing in real estate?
| Biggerpockets making you pay for tools that were once free? Posted: 06 Nov 2020 11:35 AM PST I've been able to use the rental property analysis tool on the site for the last five or six months and now it's telling me I need to upgrade to a paid subscription in order to use it now. Anyone else dealing with this? [link] [comments] |
| Buying 2nd owner-occupied property Posted: 06 Nov 2020 11:40 PM PST I plan on buying my 2nd owner occupied multi-family property soon. I've been moved out of my first property for several years now and can provide plenty of rental income history. Are there any specific pros or cons to this process that I should be aware of? Or will it mostly be the same? I have good credit history (740) and have never missed a mortgage payment. [link] [comments] |
| Buy investment properties now or wait for the market to lower? Posted: 07 Nov 2020 01:43 AM PST Is it advisable to buy cash flowing investment properties in Southern California (or in general) right now? Or is it better to wait for the market to go down? Thoughts? [link] [comments] |
| Should I buy starter home with plan to rent it in few years vs bigger home Posted: 06 Nov 2020 09:54 PM PST Due to Covid, I am very frustrated with my current living arrangement & looking to buy a SFH for primary residence for next few years. Then convert it to rental property. I have been looking to add to my rental portfolio for last few years: I have a duplex & mid-size SFH Debating on 1) buy a cheaper starter home. Small house, Small mortgage & small future rental income. But allows plenty of extra saving to buy real deal in next few years should recession takes place. 2) buy mid-size house in good school district that cost $100k more than option one but rental income is higher. But we might not outgrow the house in next few years so it won't go on rental fast & who knows how the rental market will be in next 5+ years [link] [comments] |
| Local or out of state investment properties? Posted: 07 Nov 2020 01:39 AM PST Do you prefer to buy local (where you can actually drive by and look at it) or out of state (managed by property managers and never see it)? What are your experiences and why? [link] [comments] |
| How does a short sale affect the buyer? Posted: 06 Nov 2020 06:16 AM PST Getting ready to buy my first investment property. Lots of short sales popping up in my area and some of them are very attractive. Some questions: 1) How does a short sale affect negotiating power from the buyer's perspective? 2) How does it affect the timeline for closing? 3) Do lenders typically like loaning for these types of investments? What types of additional requirements do they add to these? 4) For those of you that have bought these properties, was there anything you didn't know ahead of time that you wish you knew? Is a short sale more or less attractive to you then a conventional purchase, foreclosure, etc. I'm in NC in case that matters. [link] [comments] |
| Should I invest or buy a primary residence? Posted: 06 Nov 2020 07:57 PM PST Hey all, my partner and I are debating between buying a rental property or primary residence. We live in a very HCOL area where nothing will cashflow at all. I have a few opportunities to invest out of town but my partner would rather purchase something for ourselves first. I see benefits to both sides. Currently we're renting a 2 bdr for 1500/month from my parents (one of their rental properties). The market rate is more like 2200-2500/month just to give you an idea of how expensive it is here. We can afford a maximum of 750k property which isn't a lot (that can only get us 800-1400 sqft of space) but we'd like to start building some equity. We combine for about 200k/year. What would you do? Is it smarter to have a principal residence first then start investing or does it matter? [link] [comments] |
| What Are The Best And Worst Parts Of Real Estate? Posted: 06 Nov 2020 08:38 AM PST Also...is the money you'll make from it consistent, especially with pandemic now? I have money saved up to get a small start...just wondering if now would be the right time. [link] [comments] |
| Posted: 06 Nov 2020 07:28 PM PST I'm 17 rn, and I really want to learn about investing, but idk where to start. What would be a good place to start as someone who has no experience in real estate? How did you start? [link] [comments] |
| What to present to investors in a Property Pitch Posted: 06 Nov 2020 10:00 AM PST Hey all. I'm not an RE investor, but I work with a few, and I've been tasked with creating an investor deck for a small RE Investment/development project. The dilemma is that I know next to nothing about real estate investment and finance, and so I'm not sure what to include in the presentation. I'm a graphic designer by trade who has somehow wound up adjacent to hotel/resort development so I'm a bit out of my area of expertise. Here's the gist: The project entails converting a multi-structure family residence to a high-end resort. The majority of the capital needed for acquisition + reno/improvements is going to come from private investors who we already have relationships with, but I've been asked to put some sort of deck together to make it legit and transparent. I assume that a prospective investor would want an overview of the market in the country/location, the business model and how it pencils out, some metrics like debt service coverage, EBITDA, etc., and most importantly, ROI and how the investment lifecycle is structured, distributions, Capital events etc. I have access to a pretty solid Operating Pro Forma with a bunch of nice numbers that I don't understand, so that could be useful. Just to be super clear: I'm not an RE guy, this isn't my deal and I have no skin in the game; I just need to put together a sexy deck that the bossman can send to his connections that will tell them everything they need to know. Please be nice to me I have no idea what I'm doing lmao [link] [comments] |
| Helping a contractor start out Posted: 06 Nov 2020 08:05 AM PST I've developed several million square feet of real estate - almost all commercial/residential. So I've overseen a lot of construction. Done a bunch of project management work directly for the contractor to being the General Partner of the Real Estate Investment company. I moved to a really, really tight labor market. I bought a '91 home here that had nothing done in 30 years. I am doing a mid-six figure renovation project on it. Getting work done here is, well, challenging at best. Think 1 year to build a 2,500 sft suburban middle class home. I found a hispanic guy (I mention his race because communication is sometimes a problem) and he is acting as the lead carpenter/small time GC, but I'm helping out a lot - he's not ready to do all the coordination. He just started his own company and is doing all the framing, finish carpentry, drywall, and painting. The dude is doing amazing. I'm sure we're saving six figures vs. had I hired a true GC. The schedule sucks, so he is under a lot of pressure (I sold the house we live in) so we have a hard move in date, whether he is done or not LOL. Basically, if the guy wants to, this is his start to being a real GC in a market where it's good to be a GC. I'm helping were I can - paying for $2,000 mistakes and the other day he gave me a bill and I paid him double and said take it off the next bill to help with his cash flow. Doing a lot of coaching. Here's my question. When the job is done, I'd love to reward him. I'm not against giving him a large bonus but I don't want him to get ruined if I hire him again. His rates are low by probably 50% - but I'm also doing all the coordination work and got a builder's risk policy, etc... How to I reward him but not make it so he expects it? [link] [comments] |
| Posted: 06 Nov 2020 05:36 PM PST Has anyone heard of " cost to cure " addendum in conventional mortgage? Basically forcing to fix few items even though I am putting 25 % down . [link] [comments] |
| Posted: 06 Nov 2020 10:59 AM PST Friends grandma passed away. They are needing to get rid of her home and want to sell it fast. It's not listed yet. Zillow has the house at 230k. They're offering it to me for 140k. It needs a new roof. Built in 1950. 800 square feet. Land is 9500, which is about 4000 more square feet that any of the lots close by. Right next to two duplexes. Across the street from a highschool, middle school, and elementary school. It also has a detached garage. I would put 35k down. I'm estimating my mortgage to be 477, taxes 169, insurance 34. So total cost $680 Comparable rents close by for single family homes are around 1300 - 1400. It will net positively right from the get go, but I'm concerned about it being from 1950. I'm touring it tomorrow. What should I look for? I think this is a steal of a deal but I might be glossing over things. State: Oregon. [link] [comments] |
| Are these interest rates high? Posted: 06 Nov 2020 08:12 AM PST I was quoted 3% APR for a 30 yr fixed rate mortgage 200k loan with 20% down (50k) on a conventional loan. I was also quoted from same lender 3.5% APR for USDA 30 yr frm 0 down on 250k. My credit score is 790. Are these rates competitive? It's my first time shopping for a mortgage lender. [link] [comments] |
| What's your 'driving for dollars' sales pitch? Posted: 06 Nov 2020 03:04 PM PST Everyone talks about driving for dollars as a way to find rundown properties. I have no problem doing that or finding the current owner. That's the easy part. Once you find a rundown property, what do you say/how do you begin the conversation with the owner? Surely there's something more tactful than, "I see your house is rundown and shitty. I would like to buy it for $0.60 on the dollar." [link] [comments] |
| Inventory process/tools for fittings and furniture. Posted: 06 Nov 2020 10:56 AM PST I'm just starting out renting out both furnished and unfurnished residential property and I'd love to hear of tools or processes people use to track their inventory - mainly to categorize theft or damage. [link] [comments] |
| Posted: 06 Nov 2020 01:40 PM PST Hi all, Does anyone know Commercial Brokers that could offer LOC products? Would ideally bundle my houses together as collateral and get a LOC with a Commercial Broker. [link] [comments] |
| Is there hope to own a multi-unit??? Posted: 06 Nov 2020 05:51 AM PST Hi! My husband and I have been renting and really want to own a 2 or 3-unit in Chicago. We found a few ranging from 450k-560k. We would live in 1 unit and rent out the other(s). This will be our first time owning a home. We have excellent credit and my husband makes 60k but I barely started working for uber eats last month. Unfortunately, I really didn't have a steady job before then since late 2018. We only have 10k saved. My question is if this is even possible, out of the question, or we need more time? [link] [comments] |
| Should I take a loan for Renovations Posted: 06 Nov 2020 08:04 AM PST I'm talking to a lender about a multi-family property I'm about to buy and he has offered me a loan to cover the cost of Renovations. I didn't know this was even a thing as I had planned to pay out-of-pocket for the cost of rehab. Just on the purchase price the loan terms I'm already looking at are 25% down @ 4.25% interest over 25 yr amortization Do people typically recommend using the bank's money for renovations? This is for a long-term hold and not a flip. [link] [comments] |
| How does a 17 year old get started investing in real estate? Posted: 06 Nov 2020 03:33 AM PST Hello, I'm new to this Reddit but I'm very interested in investing of any sort. I currently have a custodial account under my mother to invest in the stock market as a minor and despite the pandemic, it's still profitable. Anyway, I turn 18 next week and on my birthday I'm going to establish a line of credit and possibly an IRA. Is there something I should do to get a start in real estate investing? Anything will help whether it be books, youtubers to watch, courses to buy (I've never bought a course my knowledge in the stock market comes from online research alone), or just general tidbits of knowledge and advice. Anything will help. I'm looking forward to learning from the intelligent minds in this forum. Thank you so much. [link] [comments] |
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