Real Estate Investing: 3 studios for $750,000 or 1 house for $750,000 (rents the same) |
- 3 studios for $750,000 or 1 house for $750,000 (rents the same)
- Can I Rent a Mobile Home on My Property?
- Closed on a 14 unit apartment building!
- Is tax lien investing a legitimate thing?
- FHA 5% down, what kind of interest rate will I get?
- My cousin wants to buy and essentially flip trailers. I feel weary of such an endeavor and I don’t know why.
- How has the market been on renting out SFH suburban areas?
- Seattle Newbie Investor
- Pledged Asset Mortgage
- Buy From County Tax Auctions
- BiggerPockets premium
- How to solicit investment
- Is a smaller down payment always better?
- 4 Plex Purchase
- Mobile Home on my Property Advice
- Solar panels on a rental?
- Are these cracks in the walls concerning?
- Has anybody successfully negotiated with an IRS lien?
- Now a bad time to buy?
- Found another realtor who might help me find what I need? What should I do?
- Tax question for new investor
- Being a Landlord in a Drought?
| 3 studios for $750,000 or 1 house for $750,000 (rents the same) Posted: 08 Jan 2021 07:35 PM PST Would you rather buy 3 (studio/1 bedroom apartments for $250,000 each) that rent for $1,400 each (total adds up to $750,000 and $4,200 in rent) or one 3 bedroom house for $750,000 that rents for $4,200. This is in my area. And why? The ratio is the same. I'm aware I can get better returns in other states but I prefer local. [link] [comments] |
| Can I Rent a Mobile Home on My Property? Posted: 08 Jan 2021 09:31 AM PST I own the land, and I leased it to a tenant who had his own mobile home on it. The tenant defaulted on the loan on his mobile loan and left the mobile home on my land. The mobile home has been on my land for almost 2 years and it has been very difficult to get in touch with the lender to resolve the issue. Can I lease the mobile home and get the lease money while I resolve the title issues? [link] [comments] |
| Closed on a 14 unit apartment building! Posted: 09 Jan 2021 12:44 AM PST Just closed on a 14 unit apartment building! Figured this subreddit would love REAL numbers and how I can achieve BRRR an apartment building (in theory). 12 residential, 2 commercial. Numbers are actual and on the conservative side. I'm assuming 850 for 3 beds, 700 for 2 beds, 600 for 1 beds. I had a tenant with an $805 voucher looking for a 2 bed so I feel confident I could get a 3 bed voucher for $925-950 or so. FMR for 3 bed is $1010 for that zip code. Current Rev = 91k Expenses = 53k (a bit high) NOI = 38k Debt service 14k FCF = 24k, cash on cash ~11.5% on actuals. Purchase = 375k, put 200k down and private money loan for 175k @ 8% Pro Forma: Top line rev = 118k - value add strategy of putting section 8 tenants in this building. Expenses = 68k NOI = 50k Debt service = 11k (Refi at 375k, assuming 4%) Free cash flow = 39k with no money left in the deal. Value at a 10 cap = 500k. I'm pretty sure I could get it underwritten at a 8.5-9%, but let's use 10% to be safe. Refi value . 75% of 500 = 375k (aka purchase price). This is a solid C class property in a tertiary market in the midwest. I am out of state (from CA) and have a full team there. I also bought an 8 unit for 200k about 20 min away. [link] [comments] |
| Is tax lien investing a legitimate thing? Posted: 08 Jan 2021 03:06 PM PST Alright let me start off by saying I saw a tik tok (which is typically a very reliable source of information lol) where a man claimed that if you register for your local counties tax collectors office, and essentially payed off someone's debt, that were the tenant never to reimburse you, you could collect on their home/property? It sounds very similar to what banks do and I am curious as to what is stopping the average person from doing this? Apart from the fact that it's rather unethical, if you chose to do this to a person that lived in a wealthy area, are there any type of legal repercussions? Is this a legitimate investment vehicle? Would it be realistic to find a property you're interested in that you could verify had no tenants and pay off any associated liens in exchange for the eventual property? Idk just curious [link] [comments] |
| FHA 5% down, what kind of interest rate will I get? Posted: 08 Jan 2021 12:45 PM PST I see all of these interest rate quotes in the 2.6.2.9% range for 30 year mortgages. Hypothetically, as a first time home buyer putting 5% down, with a satisfactory debt to income ratio, would I be able to get that type of rate? [link] [comments] |
| Posted: 08 Jan 2021 03:55 AM PST He basically says he wants to fix up trailers and rent them out or resell them. I don't know much about this but something tells me this isn't the way to go about this. He's already purchased signs and got other family members involved. But everyone's in crippling debt, or have credit issues. What advice can I offer him? [link] [comments] |
| How has the market been on renting out SFH suburban areas? Posted: 08 Jan 2021 01:10 PM PST What's your experience of late with renting out your SFH in the suburbs (like a San Jose-ish area, not dense city SF)? Are rents holding up? Are you having difficulty when you have a vacancy, either competing for tenants or having to reduce rent or offer some incentives? I know densely populated areas/living situations are getting hit and it sounds like SFHs that can offer someone their own space/yard are doing ok. And for staying a drive's distance from the office should the tide change to going physically back in to work. What's been your experience lately? [link] [comments] |
| Posted: 09 Jan 2021 12:09 AM PST Hello, I currently live in Seattle and would like to house hack in the suburbs close to Seattle and Bellevue. Currently, I have 3 cities in mind: Kent, Des Moines, and Renton. I am now trying to narrow them down to even more specific neighborhoods. Any advice would be greatly appreciated! Thanks, [link] [comments] |
| Posted: 08 Jan 2021 07:44 PM PST Can anyone here speak to an experience they've had with pledged asset mortgages? These are mortgages where you grant a security interest in marketable securities (stocks, bonds) instead of a downpayment. Particularly interested if anyone has used this for an investment property rather than a primary residence. Has this vehicle structure been what you hoped for? [link] [comments] |
| Posted: 08 Jan 2021 09:53 PM PST Has anyone bought from a county foreclosed tax auctions? Any advice or warnings As an example, has anyone bought a tax auction property and the old homeowners didn't want to leave? What's your experience with winning a county auction property? Thank you. [link] [comments] |
| Posted: 08 Jan 2021 09:51 PM PST Is this worth it? I'm serious about REI and it seems like everyone is a BP pro. Do I really need it? What are your experience with the premium membership. [link] [comments] |
| Posted: 08 Jan 2021 09:04 PM PST Have a big winner, how do I find a limited partner(s)? PUD in metro market [link] [comments] |
| Is a smaller down payment always better? Posted: 08 Jan 2021 11:59 AM PST I've seen a lot of people talking about buying/flipping or buying/renting strategies, and it seems that the lowest down payment possible seems to be everyone's goal. If you buy in order to rent though, wouldn't you want the largest down payment possible to make your monthly mortgage payment smaller, which decreases monthly expenses and increases profits? Wouldn't putting a small amount down increase monthly mortgage payments that could eclipse the rent you receive? Can someone please let me know if I'm missing something in my thought process? I'm looking to start investing in RE hopefully later this year but I feel like I'm missing a fundamental piece of the puzzle. [link] [comments] |
| Posted: 08 Jan 2021 06:50 PM PST Am I missing anything? The deal: 4Plex $800K 3.75% down 3.5% interest 0.5 PMI Unit rent $1,500.00 each 4 units = $6,000.00 gross rent Monthly Gross Cash Flow Without CAPEX = $1,286.19 Monthly payment with insurance, taxes, 0.5 PMI = $4,713.81 Thanks all! [link] [comments] |
| Mobile Home on my Property Advice Posted: 08 Jan 2021 06:47 PM PST I own some land and was renting it to a person who put a mobile home on it. The person couldn't continue paying the mortgage on the mobile home so simply left. The mobile home has been on my land for almost 2 years. From my inquiries, it seems that the lender has not yet foreclosed the home, and is very difficult to get a hold of. What should I do? Should I simply assume that in time the lender will foreclose so I can purchase the property from them? Note that I'm not wanting to purchase from the person who used to rent on my land because I think that would mean I would have to take over his mortgage, whose balance is very high. [link] [comments] |
| Posted: 08 Jan 2021 02:19 PM PST Was wondering if anyone considered financing a solar panel system and charging the tenants seperately for electricty to cover the financing payments? Houses with solar panels sell higher on average and also once they are paid off you could make some extra consistent $$. [link] [comments] |
| Are these cracks in the walls concerning? Posted: 08 Jan 2021 05:40 PM PST As the title states, I'm looking at this property and it's priced well, but there are large cracks in the walls. I'm obviously going to have an inspector look at it, but just wanted to get the opinion of people in this sub. Thanks in advance. [link] [comments] |
| Has anybody successfully negotiated with an IRS lien? Posted: 08 Jan 2021 12:27 PM PST A couple years back I had a contract put together to purchase two homes that were distressed. The owner had a small loan against them and there was a cosigner who I have worked some deals with before and the cosigner asked me to help him get out of the deal. He was making the payments because the owner was not able to. In short, it turns out that the owners former husband owes a bunch of money to the IRS and a lien was developed against these homes. The dollars at stake here are small and the IRS lien is huge. Fast forward a couple years and the owner had moved her niece in there who tore up the property. It's a complete dump. So I'm still willing to move forward with these because the price is right. I'm willing to deal with a little bit of headache as a personal favor to my friend. The banker has told me that he might be able to work with the IRS to get the loan dropped because if they don't agree to do it the only option is foreclosure, which hurts both the owner and my friend. I've spoken to all the parties and they're all on board with it but he has told me that he would try to negotiate with the IRS if I can bring him a contract to purchase for something that sounds like a reasonable price to the IRS. Just wondering if I'm completely spinning my wheels here. Has anybody had success with doing anything like this? [link] [comments] |
| Posted: 08 Jan 2021 07:32 PM PST Think now isn't a great time to buy a house? My moms looking for a place and I've been out of RE for a bit and I hear all sorts of conflicting things like wait for the markets to pull back and the eviction crisis looming etc. Is there a good chance prices will drop in the coming months via the pandemic or is it just going to keep climbing and climbing? I live in FL btw. [link] [comments] |
| Found another realtor who might help me find what I need? What should I do? Posted: 08 Jan 2021 09:40 AM PST This is awkward because I've been working with another realtor and we've seen a couple of places but no luck. I encountered another one that has more knowledge and experience with what I am looking for (first time home buyer looking for multi family property). He tells me he can help me find something that cash flows and that he has more experience with this. I want to maybe work with him but I feel guilty even talking to another realtor. What is the ethical thing to do? Is this other realtor just saying what I want to hear? If I work with the other one, how do I let the other one know I won't need his services? Any help is appreciated! Thanks! [link] [comments] |
| Posted: 08 Jan 2021 12:29 PM PST If I use all the income my business generated for the year to buy an investment property, would the purchase be considered an "expense" and I would pay no taxes for the year? State = California [link] [comments] |
| Being a Landlord in a Drought? Posted: 08 Jan 2021 08:22 AM PST Hi! I tried googling and searching the sub for a potential answer to this and couldn't find anything. For disclaimers I am not a landlord or investor outside of RIETS but I am saving up for a rental property. I like to caruse realtor.com to take a look at properties and prices as both a hobby/entertainment and for research and what I could expect to see when the time does come in a couple years when I own rental unit(s). My state is/was in a drought for the past 4 years but since this year in the fall and winter we've gotten lots of rain and a good amount of snow it appears temporarily that it has gone away. But in the past couple years I've been reading and hearing about people living on wells and drilling and finding nothing but dry dirt. That made me wonder, if I was a landlord and owned a rental that was on a well and the well dried up due to a drought, how does that work for me? Would I be responsible getting them water or would the tenant be on the hook? [link] [comments] |
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