Real Estate Investing: NY Times: Eviction Moratorium Ending... |
- NY Times: Eviction Moratorium Ending...
- Multi-Family Case Study Time
- What do you guys think about this fuckery?
- I don’t understand how people make money with rental properties.
- Would it make sense to cash out refi and use those proceeds to buy points / reduce interest rate?
- Easement in Parcel
- They say its bad time to buy....? Savings me a TON of money, afraid prices will crash
- Cost of Painting
- Am i an idiot for spending too much?
- Most/Least Tenant Friendly States
- Investing for Appreciation vs. Rental Income
- How to not over leverage?
- Buying My First Apartment Building
- First time, house hack question
- Experts Please help me
- To rent or to sell
- House hack in an expensive area even though it wont cashflow if i move?
- What is the PSF cost of multi-family/ condo development?
- Starting from the bottom
- Did a Cash Out Refi - best way to use funds?
- 24(Male) Wanting to buy a low end Mobile Home to cut living expenses
| NY Times: Eviction Moratorium Ending... Posted: 02 Dec 2020 12:16 PM PST |
| Posted: 02 Dec 2020 06:51 PM PST I am very new to multi-family investing. All of my knowledge is second hand learning from books, and countless analysis on properties. I will find my deal one day. For now, I feel like I have been stuck in a bubble and need some insight from strangers. Assumptions:
I wish I could attach my excel breakdown. But I will type it out I guess. What's the deal with image restriction?
Currently this property is in the hole, but its NOI / Cap Rate (7.5) potential value at 93% occupancy would $1,708,000. This is with below market rent values & 3% escalation. Overall expenses will rise to something around 40% of gross income vs the current 28%. If I change this... I get the following.
Lets now change the rental income to "market level average" of $600, I get the following.
I know this skips cap improvement renovation costs to get the property up to a desirable occupancy level. I guess, just critique my numbers and let me know what you think. [link] [comments] |
| What do you guys think about this fuckery? Posted: 03 Dec 2020 12:33 AM PST |
| I don’t understand how people make money with rental properties. Posted: 03 Dec 2020 03:44 AM PST So my wife and I were considering buying a 2nd home in NC and renting it out to generate some passive income. Sorry to be such a noob but I don't understand exactly how we'd make money doing it. Let's say we buy the house for 150k and rent it out for $1500 a month. It would take over 8 years to break even, and that's with the pain in the ass of being a landlord and dealing with maintenance and possibly gross tenants. So let's say we buy that same house but with a very small down payment. The rent we'd collect would go to paying off the mortgage every month, right? What am I missing here? If someone could explain what I'm missing here is really appreciate it. Thanks. [link] [comments] |
| Would it make sense to cash out refi and use those proceeds to buy points / reduce interest rate? Posted: 02 Dec 2020 03:00 PM PST I'm having a hard time doing the math... but anyone able to give some general thoughts on this strategy? I'm working on a refi on my investment property and the lender is offering 4.125%, no points (Option 1). They have a cashout refi option at 4.375%, no points (Option 2). I would be able to pull out up to ~$50k in equity in this second scenario. In both scenario, most of the closing costs will be rolled into the loan so I don't need to bring any money to the table. One question that I had is whether it might make sense to go with Option 2 and cash out the $20-$50k, and use a portion of those funds to buy a couple points to bring down the interest rate substantially. I'm guessing similar to any cash out refi, there is a break-even analysis based on my hold time. I'm just having a hard time thinking what that would look like here. [link] [comments] |
| Posted: 02 Dec 2020 07:49 PM PST I am interested in this parcel, it is prime location but the only way to get to it is through an easement. The owner says that easement is available in perpetuity and its in writing but it is still a very awkward entrance. I plan to build 12 unit multi family home on it but it can be difficult because of the easement. There is a private road leading to condos that runs right by the parcel which would be perfect if they would let me use it to get into my property Is there anyway I can convince the condo owner (its a huge complex so I am guessing its a big company) to let me use this private road and turn it into an easement if I pay them? Or am I being too optimistic? here is the map I drew up to give you an idea https://www.dropbox.com/s/81p7jg171s8yjir/skype_picture_2020_12_03t03_45_19_884z.jpeg?dl=0 Any feedback on this would be greatly appreciated. Thank you [link] [comments] |
| They say its bad time to buy....? Savings me a TON of money, afraid prices will crash Posted: 02 Dec 2020 11:33 AM PST Hello! I'm buying my first property (of what I hope will be several) but was reading online how they say it's a bad time to buy since 1) inventory is low and 2) prices are high. Wanted to get your perspective on it since this sub is specifically for the investing-perspective. I currently live in California where my rent for a studio is $1,400 and my state income tax upwards of $500/mo. I can buy a 2/2 house in Las Vegas next month with a mortgage of $800/mo and no state income tax. My job is 100% remote and I'm single so moving is super easy. By moving I'd be saving an additional $1k/mo between rent/tax compared to living in CA. If I rent out a room in my new house (don't want to count my eggs before they hatch), I'd be saving an additional $1.5k/mo compared to living in Cali. To me, it looks like the deal of the century. But the houses in question (in Las Vegas) all sold for about 50k-70k 2 years ago, and are now selling for 160-180k. I did the whole "is annual rent < 20x house purchase price" calculations and based on that no, the houses don't seem to be overpriced. But judging on their (very recent) historical values, are they mega overpriced nonetheless? I'm afraid of moving now and buying at $170k (which to me seems like a steal coming from San Francisco) only for prices to "go back to normal" and drop to $60k in a couple of years time. All the properties are SFHs/condos/townhouses that are 2/2 or 2/3. Thoughts? [link] [comments] |
| Posted: 02 Dec 2020 09:02 PM PST House is 1560 square feet in Florida. How much should I expect to pay a painter for repainting the inside of the house? Walls cost and then walls + trim cost? There don't seem to be any good calculators out there. Any help would be appreciated!! [link] [comments] |
| Am i an idiot for spending too much? Posted: 02 Dec 2020 04:54 PM PST alright, guys, long time lurker but first post here. I am a 19-year-old college student looking at a house to buy so I can house hack it and start my real estate portfolio. I'm just not sure if this is the right move with the cost of this house so any advice would be greatly appreciated! I have about 82 thousand in cash. I have found a 4 bedroom house to buy for 314k and for my down payment I'm putting 20% down and once the deal is final ill have spent about 70k to get the loan and etc. Is 70k too much of my net worth plowed into this home? I know if this sub was r/wallstreetbets I would've yoloed it all by now but it's not so I'm asking you, smart people. lol I will be renting out the other 3 rooms for $500 a month + wifi and gas split between all of us roommates. I will have to pay about 200-250 a month to finish paying off the expenses. the house itself is fully remodeled on the inside and everything that could be an issue has been replaced besides the water heater that was installed in 2012. so I'm not immediately expecting any repair expenses soon. I already have renters figured out for the first year to the plan as of now is to sell it when I graduate and just get all my money back out of it and go find something else wherever I get an offer to work but depending on the market rate ill just continue to rent it out am I doing this right? am I an absolute dumbass for doing this? please lmk in the comments Edit: have 2 years left of school and don't wanna put less down because PMI it very $$$ [link] [comments] |
| Most/Least Tenant Friendly States Posted: 02 Dec 2020 07:32 PM PST and vice versa for Landlords in regard to state laws? [link] [comments] |
| Investing for Appreciation vs. Rental Income Posted: 02 Dec 2020 06:22 PM PST Hello, in evaluating properties, there are lots of equations and methods to compare homes in terms of rental income. But what if you want to compare one house based on its estimated future appreciation vs. another house for its rental income? Does anyone have a method, and how predictable/reliable is something like appreciation, vs. predicting rental income, which seems less speculative. If you have CA properties, where rental income is low compared to property value, it is that easy to simply sell and take your investment out of state, if the CA property would appreciate much more quickly? Just wondering how to compare these two different things. Thank you! [link] [comments] |
| Posted: 02 Dec 2020 11:35 AM PST Very very noob real estate investor just looking to learn a bit but my question is how to prevent from over leveraging yourself. For example if I have my primary home with a mortgage and 2 rental properties. If for some reason those 2 properties go vacant for a few months I would probably not be able to make my mortgages, I can only imagine this risk multiplies as people move into 5-10+ properties, how are people able to manage that many mortgages in case shit hits the fan? I'm in an extremely HCOL area and there are no cash flowing rentals where I am so I can't exactly save a good chunk of money for vacancies and repairs once I purchase a property. [link] [comments] |
| Buying My First Apartment Building Posted: 02 Dec 2020 09:44 AM PST I have this prospective 18 unit apartment building I am looking to purchase, however, there are some certain things I have questions about that I can't really find answers on. I'm assuming the $1.9mil Fannie Mae mortgage of the sellers but I need to come up with $695,000 cash. I contacted my typical hard money lender but they won't come in on the deal unless they're in 1st position lien. So I'm left with a couple questions.
[link] [comments] |
| First time, house hack question Posted: 02 Dec 2020 04:28 PM PST Once a property is bought, in your experience how difficult is it to find tenants?? [link] [comments] |
| Posted: 02 Dec 2020 04:21 PM PST Hello everyone. So my retail business does pretty well and I'm wanting to see how I can buy properties on it and rent them out. It's a scorp and I want to see how I can get the most out of it. Like how can I buy properties and deduct the down payment or what's the smartest way to do it? Thanks [link] [comments] |
| Posted: 02 Dec 2020 03:46 PM PST I need help deciding between renting out or selling my current home. The house is 9 years old, in good condition, 3 bed 2 baths in a really good neighborhood, good school, with a nice roof deck, no garage in Philadelphia. I don't need the money for DP towards buying another home. I do not have other RE investment (yet!) and am interested in becoming a landlord, esp for a Class A building/tenant which hopefully is on the low maintenance spectrum. My plan has always been to build a rental portfolio to diversify my current investment, all in diversified stock currently. Here are the numbers & options: 1. Sell the house. The "cost" of the house if I were to sell is $640k (this includes purchase price, transfer tax x2 as both buyer and seller, closing cost, all renovations and does NOT include seller's agent fee if I were to hire one). I've gotten comps from 2 different agents and both gave me between $580-680k. Without actually going through those homes in person, I'd say I prob will get $620-640k. If we were to sell, we'd sell via FSBO without an agent. Most likely, I'd be lucky if I break even even with Howzer.
I understand that RE investing gurus never take equity gain or appreciation into account. It's certainly not my strategy if I were to buy an investment property. Normally, I wouldn't buy a property with 0.5% rent monthly but considering that this is a class A building that I'm already familiar with, with good LT appreciation prospect, an easy way for my husband and I to try out landlording, and we don't need to capital to continue investing in RE, does renting it out make sense? [link] [comments] |
| House hack in an expensive area even though it wont cashflow if i move? Posted: 02 Dec 2020 03:40 PM PST I am looking at a duplex in the Boston suburbs that I think I can get for $650k. I would be putting 3.5% down. It has a 4 bedroom unit which could rent for $2500 and the 2 bedroom could rent for $1800. I would move into the 2 bedroom with my fiancé who can pitch in $600 a month towards the mortgage as her "rent". I have been looking for a house hack which would turn into a cashflowing rental once i moved out for almost a year, but in the area near my work the only options for that would cashflow are in bad areas or need alot of work. This one is in a nicer area but I am worried I am making a mistake because I live in a in law apartment paying very little rent, so by buying this and factoring 10% for repairs etc I would be increasing my monthly spending. Is it worth it to house hack just for the equity and to live somewhere bigger? I appreciate all feedback and questions. [link] [comments] |
| What is the PSF cost of multi-family/ condo development? Posted: 02 Dec 2020 03:36 PM PST (Also posted in r/commercialrealestate) What is the cost of residential condo development on a PSF basis? In short, I'm a broker pitching a development project to investors and I'm trying to pro-forma my development costs. It's a ground up construction of a single building - about 22,000 SF. I've asked a couple senior brokers in my office for expense projections and I'm getting wildly different answers. One guy is telling me it will simply cost $215/ SF + land acquisition and financing costs. On the other hand, another colleague of mine is saying hard costs alone will be $240/ SF, while soft costs account for $30 PSF, without including the price of the land or bank financing. He's also including a contingency of a 10% increase to the total project cost to account for "inevitable fuck-ups" in the development process. Needless to say, their assumptions about the project cost vary greatly (a $1.4M difference!). Any redditors out there have an informed opinion on development costs? I'm all ears. [link] [comments] |
| Posted: 02 Dec 2020 03:08 PM PST Hey all, I have a long way to gain enough capital to invest. But I had a general question. Going into home inspection, how much can I expect to make doing home inspections in New York 1-3 house per week on the weekends ? Im a APM in a construction firm full time. Thanks! [link] [comments] |
| Did a Cash Out Refi - best way to use funds? Posted: 02 Dec 2020 02:20 PM PST So I just did a cashout refi on a property and would like some input. I have a couple of options and not sure what the best approach would be considering circumstances:
Thank you in advance :) [link] [comments] |
| 24(Male) Wanting to buy a low end Mobile Home to cut living expenses Posted: 02 Dec 2020 01:39 PM PST I'm a 24 year old Male, I have $10,000 saved up at the moment, my monthly rent is about $1,200 currently, I make a little over $1,000 a week after taxes. I was originally going to save up to purchase a small house, but then I found out how cheap it would be to purchase a mobile home(trailer home to be specific), so now I've been looking at listings for Trailer Homes. In my area an older Trailer home, made in 2000 - 2010 runs anywhere from $10,000 - $20,000, of course you still have lot rent to pay monthly after owning the Trailer Home. Which $200 - $300 a month is much better than $1,200 a month for renting a townhome. I'm wanting to purchase a trailer home as my first property so that I can live in it, and double the amount of money I'm able to save, by lowering how much money I am spending on rent monthly so that I can purchase a house in the future in a shorter time frame. I'm seeking advice on the following: • How to find the best deals • Things to look for when looking at a property • Ways to increase the properties value for the future • How to maintain a trailer home • Opinions on buying a trailer home vs Buying a house Thank you all for your time. [link] [comments] |
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