Real Estate Investing: Eviction Coming - Psychology |
- Eviction Coming - Psychology
- Offsetting Capital Gains on Stocks w/ Rental Property Depreciation
- Buy and hold land question
- Does anyone invest in real estate as a low key way to travel?
- Passive Income in Real Estate out of State?
- Property in upstate NY
- Best fourplex features to look for?
- Tenant recently passed away. Interested in converting rental cottage into small office space.
- Reporting credit for tenants
- Is 5 dollars a lead a fair price for a bird dogger?
- CPA question on siding and master bath (house hacking)
- Early withdrawal from 457(b) federal tax withholding?
- Financing first investment property
- Thoughts on buying in a major city with decreasing population?
- IF you have a property management company and your tenant wants to buy directly from you, do you have to give the company a commission?
- Real estate agent - who to use?
- Title Insurance for land only Adverse Possession
- Anyone investing in Utah?
- How to build a portfolio, what’s next?
- Cash out refi options
| Posted: 05 Dec 2020 08:41 AM PST I'm pretty pissed and have been for a few months. I've worked with all my tenants. Waived late fees. Sent rental assistance applications. Offered toilet paper, hand sanitizer, and food when things were tough. 4 of them have been super appreciative. We've made it work. They've caught up or are very close. The 5th has lied continually. And sent $50 - "it's all we have" as they just got a new car. "We're trying. We got a new job" as they got promotions and started a company. They are now 7 months behind. And have blocked my number, email, social media, and will send a message every 3-4 weeks "we're trying to catch up." I wanted to believe, but the signs are clear. And in 3 weeks I'll be moving with eviction. Just pissed at the situation and them for obviously being fine thru this crisis and taking advantage of laws. Really makes me want to sell all my properties and hate people. Someone talk me off the ledge one way or the other. [link] [comments] |
| Offsetting Capital Gains on Stocks w/ Rental Property Depreciation Posted: 05 Dec 2020 07:07 PM PST I have a decent amount of cap gains every year from trading stocks. Can I can reduce my capital gains tax with non-cash depreciation on rental properties? [link] [comments] |
| Posted: 05 Dec 2020 10:37 PM PST What are the thoughts on buying land in an up-and-coming town with hopes of long term appreciation and doing "agriculture" on the land to get a property tax reduction? The goal would be to develop the land or sell it to a developer once the surrounding area gets more built up (maybe 10 years after initial purchase). [link] [comments] |
| Does anyone invest in real estate as a low key way to travel? Posted: 05 Dec 2020 10:24 PM PST Sorry if this is a noob question. I'm thinking of buying my first property soon. I've graduated college a few years ago, but still I live at my childhood home due to the fact that our home is in a HCOL city and renting didn't seem financially smart. This has allowed me to save money and I want to now buy property of my own. Of course the home prices here are incredibly expensive and I could never afford to buy here for my first investment. So I am looking at different markets around the country, but honestly, I don't know how I can make up my mind without at least liking the place I'd buy in. So I'm thinking of travelling more frequently. Maybe even as a hobby. Travelling to places around the country all while using the trip as an opportunity to scout for real estate. If I find something nice there and the numbers made sense, I'd consider putting an offer, and if it gets accepted and I make the sale, move out there for a few months while working on turning it into a rental. Hire a property manager, then use the passive income to finance my next travel. Wash and repeat. Is this at all a viable way to invest? [link] [comments] |
| Passive Income in Real Estate out of State? Posted: 05 Dec 2020 11:33 PM PST Anyone ever gain passive income (few hours of week) managing out of state real estate? Is this even possible or most? [link] [comments] |
| Posted: 05 Dec 2020 02:24 PM PST What's your thought on investing in upstate NY? I think people are fleeing there now due to low rent+Covid, but how will it do post Covid? (if and when we get there) Considering rental properties would be long term, how would upstate NY do? Thanks [link] [comments] |
| Best fourplex features to look for? Posted: 05 Dec 2020 07:25 PM PST I've been browsing around for fourplexes and seen a variety of features to choose from. For someone who is looking to invest in rental properties, what are certain features you look for? Are there any mush-haves on your list? i.e. Fireplace or no fireplace? Individual entrances for units or shared entry area? Garage, covered parking, or street parking? [link] [comments] |
| Tenant recently passed away. Interested in converting rental cottage into small office space. Posted: 05 Dec 2020 02:15 PM PST I own a multi family home with a relatively unique set up - two houses on the same lot. I live in the main (bigger) house with wife and daughter. Adjacent to this house is a rental cottage (physically separate house) with a tenant that has recently passed away (Section 8) after we've been her landlord for 4 years. The space inside is small (1 BR/bath) and there is work we would like to do on the house before we turn around and rent to another tenant. This process will probably take six months or so. Given the vacancy, a thought has occurred to me to convert this to a small office space for rent as it may confer more advantages than a tenant living there full time (wife values privacy a lot, sharing the back yard is not ideal, etc.). I've done some cursory research on this and I am trying to understand the nuances of commercial real estate. I know one is the type of lease agreement - NNN, full service gross lease, modified gross lease, etc. - I've been trying to understand the differences and which one would work best given our situation. Another of course is location - we live in a suburb (northeast US), relatively close to several major highways and several cities, all an hour or considerably less away from us. I believe it is zoned for residential and commercial but I am working on verifying that which is a big factor. What other considerations should I take into account? What are the upsides and downsides in your opinion? [link] [comments] |
| Posted: 05 Dec 2020 11:24 AM PST How do you go about reporting on time or late payments for your tenant's rent? Is there a particular service you recommend? What does it cost? Thank you [link] [comments] |
| Is 5 dollars a lead a fair price for a bird dogger? Posted: 05 Dec 2020 04:52 PM PST I want to try out being a bird dogger but if someone closes on a house I found for them, I am worried they wouldn't tell me they closed so they wouldn't have to pay me a finders fee... so i'm looking into charging flat fees [link] [comments] |
| CPA question on siding and master bath (house hacking) Posted: 05 Dec 2020 04:16 PM PST I rent 2 rooms of my house out with a 3rd room acting as an office, the 4th room is being occupied by myself. I recently contracted out all new siding on the house. Is it possible to deduct most if not all of this from my taxes given there are technically 2 business being run from the house? Bonus question: I also just contracted out a master bath remodel. I live in the room that the master bath is currently in but will be moving on to another house and renting the current one out when all of the renovations are complete. Is it possible to somehow claim that it will eventually be a full rental instead of a primary residence, thus able to write off the project? Obviously this is a "consult ur CPA" question(s) but I'm also looking for some other opinions just in case. [link] [comments] |
| Early withdrawal from 457(b) federal tax withholding? Posted: 05 Dec 2020 02:05 PM PST I know the general consensus is to avoid touching your retirement fund (deferred comp in this case) unless you've exhausted all efforts. But I was wondering if it might be beneficial for me to withdraw for a down payment. I'm 28yo in California. I meet the COVID impact criteria but can maintain an annual taxable gross income of ~140k. This puts me in the 24% federal income tax bracket (up to 163.3k in 2020). I am in the market to buy a home, but can't quite afford the down payment yet. Being able to withdraw all my funds (~56k) from my 457(b) sounds really enticing, especially if I can spread out that "income" across three years to maintain my 24% federal income tax. Though I realize that the main advantage of doing so is to own a home early during low interest rates. I may be misguided, but I feel that I am young and earn enough to delay funding my retirement a few years (especially for a home). My employment is stable, I can still save up an emergency fund, and the home should appreciate in value as well (as would my 457). Am I neglecting something? If I do decide to withdraw from my 457(b), I am able to elect the percentage of my federal tax withholding. Do underwithholding penalties apply if I set it to 0% (and pay during tax seasons for 2020, 2021, and 2022)? If not, would it be more advantageous to set withholding to 0% and grow the money in a high-yield savings account at least? [link] [comments] |
| Financing first investment property Posted: 05 Dec 2020 07:34 AM PST Just bought a duplex as investment property. I will not be living in it. Financed at 3.75%, 15% down for 20 years but local bank would have also done 3.75% with 20% down for 25 years. $200k purchase price. Appraisal $225k. Bank would only finance vs purchase price not appraisal but said after one year they would refi vs appraisal. At some point I'd like to cash out refi. To throw another wrench in the gears I'm self employed for about one year now. That is going well. Feedback - are these terms fair currently? Should I expect better terms in a year or two (assuming steady rates) with history of self employment? Ideally I'd like rate to be more like that of a personal residence, 3% and 30 years. [link] [comments] |
| Thoughts on buying in a major city with decreasing population? Posted: 05 Dec 2020 01:27 PM PST It's obviously always a safe bet to buy where people want to live. Where population is increasing. Well, where I live it's a major city that's making progress, but the population has been on the decline for years. People are mostly moving to the more rural surrounding areas, I would assume because its 'safer'. Theres no real "attractor" to this area other than its cheap. Same with the surrounding areas people are moving to. Its just a 'safer' cheaper option usually. There also aren't really many multi families where there are good schools. Mainly sfh or 5+ unit apartments. Should I be buying my first investment properties in this slowly declining city? Should I just do it but only focus on the cash flow? Just trying to figure out what the move is. [link] [comments] |
| Posted: 05 Dec 2020 01:08 PM PST I'm curious about this. I'm a tenant thinking of offering to buy my rental from my landlord. We communicate via the property management company. Would it be for sale by owner so the seller saves 5% or does the management company automatically get a cut of this as they are also a realtor company???? [link] [comments] |
| Real estate agent - who to use? Posted: 05 Dec 2020 09:09 AM PST I have a close family member that recently got a real estate licence but they are just doing real estate on the side so they're not really in the know or working for a brokerage that has many listings. I'm searching for an investment property but I feel like I need an agent who will be the first to hear about good deals and bring them to me. I want my family member to get the commission if possible but I don't want to compromise my ability to find a good property. Is there anyway I could reach out to other agents and they could split the commission? Or will other agents be against that? Not sure how to approach the situation. We live in Canada if that makes any difference. [link] [comments] |
| Title Insurance for land only Adverse Possession Posted: 05 Dec 2020 08:13 AM PST In Washington state. Have an offer and mutually accepted with a feasibility period. The lot is small but great zoning can build up to 6 units putting land cost at just under 15k/unit in a major city so this highly appealing. Risk: property has been vacant for 20 years and neighbors intermittently using it as their yard but don't seem to be currently. Another neighbor has been parking there per satellite image history, but they recently sold and the new owner seems to park only on the street. Well get the survey and all that but there's no fence or hostile use / possession at this time so its not likely going to tell us much we don't already know in regards to the boundary. Does anyone know of a company that will sell title insurance to protect land only against adverse possession claims? [link] [comments] |
| Posted: 05 Dec 2020 11:54 AM PST I live in California. I'm an appraiser by trade and I've spent about two months traveling from as far north as Logan, UT, to as far south as Provo, UT. I see opportunity everywhere! Curious if anyone is investing in Utah and if you'd share your experiences with us. [link] [comments] |
| How to build a portfolio, what’s next? Posted: 05 Dec 2020 07:59 AM PST I just put my first investment property under contract, I will put 20% down and financing is set for 30 years at 3.25 Thus far this process was incredibly easy. The lender said I would qualify for a home at least twice as expensive. What's next, I will get this place rented out - do I need to have a rental history on this property before going to get the next one? What will the mortgage company consider - my credit is spotless, I can show cash assets, I can put 20% down, without counting the rental income my debt to income is under 20% and I can add another property keeping my debt to income under 30% (again, not counting rental incomes). I'm wondering when I go after the next property, start soon or get a rental history? Another value of waiting is gaining experience and relationships - I appreciate that. Anyway, thanks in advance for tips and advice [link] [comments] |
| Posted: 05 Dec 2020 10:00 AM PST I recently bought a property in cash with the intent to do delayed financing and take the cash out right away. The underwriter declined as LTV was about 50%. I have 2 properties with mortgages currently and only one of the units is being leased. I want to use my current property and the new purchase and not lease them in the short term. I can do a refi on 1 rental property and transfer the loan to my partner so it wouldn't be my debt any more but I'm not sure if that's going to be enough. I am self employed so my annual income isn't high enough to cover 3 mortgages currently but I have over $2mil in assets and the property ii bought is $400k. I think what I need is asset-based refi if that exists. Any suggestions? [link] [comments] |
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