Real Estate Investing: How much do you put down for your investment properties? |
- How much do you put down for your investment properties?
- Hey everyone Noob questions here
- ANY TIPS FOR 20 YEAR OLD looking to invest in real estate
- Is it too late for FHA (GA)
- Converting previous primary residence into rental
- Real estate market in Denvee
- Why would someone buy and rent out barely cash flowing properties?
- Atlanta market question ?
- Knowledge is power.
- Unsecured Personal Loan for House Purchase
- Advice Please - Stop Work Order Notice
- Do you create a separate checking account / credit card for rent and expenses
- Mail reading service
- What do you think about investing in Kansas City?
- Home Inspection by Insurance Company?
- Buying first rental when have primary home. How to show to show rental income to bank before purchase?
- Biden’s Tax Plan
- Considering starting a buy-to-rent business (little capital available)
- How do you maximize the effectiveness of your cash as a down payment?
| How much do you put down for your investment properties? Posted: 07 Nov 2020 07:10 PM PST I have read a lot about various financing of investment properties -- a popular method seems to put a minimum down payment on the property (~20%) and finance the rest. You then make up that spread on rental income. Do any investors out there put more than the minimum down, like closer to 50% or 75%? If so, is your reasoning so that you are not super leveraged and sleep better at night? If you have the $ to put more down, doesn't it just lessen your mortgage payment, and you're still collecting rental income? Dave Ramsey says he pays all cash -- regardless of whether that is true or not are there arguments for putting much more down than the minimum of 20%? [link] [comments] |
| Hey everyone Noob questions here Posted: 07 Nov 2020 06:03 PM PST So basically I've been thinking about buying some land and when I search for cheap land around my area I see some acres for at least $3,000 or less , I have money saved up but not sure where to start .is it possible to pay in full cash so I wont have to deal with nothing extra or would I still have to get some type of license or documentation ? and is it possible to buy just little pieces of land here and there just to have for the future.or would I be making a mistake on purchasing multiple small lands.I see alot of 0.33-0.80 acres for cheap around my area and I'm real interested so all the help from everyone would be much appreciated . [link] [comments] |
| ANY TIPS FOR 20 YEAR OLD looking to invest in real estate Posted: 08 Nov 2020 12:05 AM PST Im currently a sophomore in college with 0 debt due to FAFSA. Im contemplating on continuing my education I would have about 3 and a half more years of schooling before I become a teacher(Liberal Arts). Im. currently studying for my real estate sales license on my spare time hoping to get into sales and investing. I currently have a part time tutoring job that pays about 550$ a month but I'm looking for a better job. Ive managed to save up 25,000$ since high school and I have a credit score of 733 I've built up using some credit cards. Any tips or ideas on how to get started investing in real estate in my situation? Located in Coachella California. [link] [comments] |
| Posted: 07 Nov 2020 01:45 PM PST Hey I bought my primary residence with 20% down conventional and my mortgage, taxes and insurance together is about have of what the rent is going for in my region. So I want to move to another house and keep this as a rental but is it possible to get an FHA even though I'm not a first time homebuyer anymore? (For clarification I have not and have never had an FHA) [link] [comments] |
| Converting previous primary residence into rental Posted: 07 Nov 2020 07:15 AM PST Ill start with the TLDR: Relocating from SC to KY, closing on house in SC has been delayed past end of contract (I still have the option to extend if I'd like), approved to carry both mortgages and can bring enough cash to close in KY without equity in SC house. Now I'm considering pulling the SC house off the market and trying my hand at landlording. Relevant information: Home in SC appraised for 194,000 (up 20k from where I purchased in 2018), and I currently owe 142,000 on a 15 year mortgage. Is located less than 5 mins from access to interstates, is in a good school distract, and is 10 mins from 3 colleges, a med school, and a chiropractor school. Rent for SFH of similar layout and square footage is 1500-1700 a month. I figure if I refinance to a 30 yr note on the house PITI will be roughly 950 a month House should be fairly low maintenance as it was a new build in 2018 with a local constructor and I didn't have any issues in the 2+ years I lived in it. Have close family friends in the area that have about a dozen properties that have said they would be happy to help with answering questions, sending potential renters my way, and putting me in contact with the good contractors they use for repairs and lawn care Have family that live less than 30 mins away from the property so in the event of an extreme emergency they would be able to respond Salary at new job is such that I could easily float the mortgage of my old home if it were vacant indefinitely without impacting my quality of life My biggest concern with self managing is that I'll be living 6 hours away from the property. The biggest opportunity cost I see with the house is that my relocation benefit covers realtor commissions so there about 12k in value there that I will be giving up to keep the house I'm looking for another set of eyes to give me a sanity check and try and point out some things that I'm maybe missing. [link] [comments] |
| Posted: 07 Nov 2020 08:10 PM PST Hi everyone, long time lurker here. I live in NY and it's costly to enter RE here. I was checking apartments on Zillow for few metro areas and I found few nice apartments in Denver. Can someone tell me everything I should know about the market over there? Are there many decent property management companies? Landlord tenant law? Here is the apartment I found. I could totally afford it and I could afford to lose few hundred on difference between mortgage and rent. I would appreciate if someone can give me advice if this would be a good long term investment for someone who wants to build equity slowly and steady. Thanks in advance [link] [comments] |
| Why would someone buy and rent out barely cash flowing properties? Posted: 07 Nov 2020 08:31 PM PST In a suburb I am eyeing, I occasionally see properties (a lot of condos) being bought and then almost immediately turned into a rental. When running the numbers, these homes barely break even (a 320k condo renting for $2k/month. With a $350 hoa). Why would someone buy it and rent it out? The properties are in various town in a suburb of a large metro area so like most suburbs, they are experiencing growth but nothing that's too crazy. Are they just betting on appreciation while they lose money in the short term? [link] [comments] |
| Posted: 07 Nov 2020 07:14 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] |
| Posted: 07 Nov 2020 02:26 PM PST I'm quite interested in real estate and I have the self discipline to step out into the real world and put in work. I want to get all the education I can on real estate and having the mentally to do real estate. Can anyone offer any books or courses I can take? I've read books like think and grow rich, rich dad, and I listen to a lot of podcasts. Any ideas to further my knowledge? [link] [comments] |
| Unsecured Personal Loan for House Purchase Posted: 07 Nov 2020 04:13 AM PST Hey all, I want to purchase a house fully cash in my area (house prices around $150k>) and I have 50k in cash. The area is competitive and I keep getting beat by cash buyers. I'm thinking of applying for a sofi personal loan to get $100k and purchase something and refi it out right after. Has anyone done this before? Is it possible / are there risks I might not be thinking of? [link] [comments] |
| Advice Please - Stop Work Order Notice Posted: 07 Nov 2020 04:31 PM PST Hello Fellow Investors, I recently started a renovation on gut rehab in North Carolina using family/friends for the demolition of the interior and a contractor for putting on a new roof, exterior siding, fixing the floor joist, subfloor, replaced some exterior walls water damage , siding, windows, and rotted fascia wood. On Friday, I received a stop Work Order Notice from the City. Did not think I needed permits until I started on the electrical, mechanical, and plumbing but I was wrong. I have to call the City within 15 days to schedule an interior walk thru. A little bit about me, I am a long distance investor and this is my first rehab. Any advice on how to deal with this situation would be helpful. [link] [comments] |
| Do you create a separate checking account / credit card for rent and expenses Posted: 07 Nov 2020 04:02 PM PST If I were to try and buy more property in the future, will a bank want to see a separate account for rent coming in and expenses going out? [link] [comments] |
| Posted: 07 Nov 2020 03:25 PM PST I've heard of it but I don't know where. Looking for a service to have all mail sent to that automatically gets scanned and emailed to me. Any ideas? [link] [comments] |
| What do you think about investing in Kansas City? Posted: 07 Nov 2020 03:22 PM PST So, I was talking to someone who manages real estate properties in Kansas City. She does the repairs and collects rent for out of state investors. By they way she made it sound, it sounded like you just buy one of these 50k-75k houses in the ghetto and rent it out for 800 per month. It seems like a good deal even if I have to pay her a certain percentage and renovate the property to make it livable. Then again, it's the ghetto. How easy is it to rent these places out for 800 per month? Why don't we see people buying more houses when they're so cheap? Thoughts? [link] [comments] |
| Home Inspection by Insurance Company? Posted: 07 Nov 2020 08:52 AM PST Has anyone ever had a home inspection by an insurance company? What things do they check? [link] [comments] |
| Posted: 07 Nov 2020 10:42 AM PST Already have one house bought a year ago. Want to buy a rental property, and bank wants to see my rental income now. How to do that? Should I move into apartments and rent out my house? Thank you! [link] [comments] |
| Posted: 07 Nov 2020 02:09 PM PST Regardless of your opinion about the electoral decision - how do you feel about Biden's proposed tax plan, specifically the remove of tax code 1031b and increased estates tax (removing stepped up basis)? I personally feel these two specific tax laws, which have been around for a century, are a main driver in wealthy individuals diversifying into real estate holdings. With the republicans likely holding the senate, I suspect it will be a pretty calm four years though. [link] [comments] |
| Considering starting a buy-to-rent business (little capital available) Posted: 07 Nov 2020 07:59 AM PST I am considering starting a buy-to-rent business in the UK. I work in property at the minute for a UK house builder. I am looking to work for myself in real-estate. I am considering one of two options: 1) Buying properties, refurbishing them and and renting them for a period before selling them for profit. I will also consider flipping them quickly by selling them within a short timeframe if a good price is available. 2) Getting a mortgage or leveraged finance on a property, refurbish them and leasing them to Housing Associations or Charities (a social enterprise) What would be the best approach to these options to get the capital required to get this business venture off the ground? [link] [comments] |
| How do you maximize the effectiveness of your cash as a down payment? Posted: 07 Nov 2020 06:31 AM PST Let's say there aren't any good duplexes that let you do the FHA trick. On a SFR, most lenders right now are quoting me 3.5% with 20% down but one is quoting me 3% with 25% down. I've run the numbers and the latter wins by a hair on IRR. I'm also thinking ahead to future properties, and how I can use my limited supply of cash effectively. What are some good strategies to use here? [link] [comments] |
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