Real Estate Investing: Benefits of converting rental property to LLC. Is it worth it? |
- Benefits of converting rental property to LLC. Is it worth it?
- Zillow API Usage - Python Wrapper
- Investing in out-of-state rental without PM
- Saw that Elon Musk decided to sell all of his CA property and take residence in Austin, TX. Checked Austin home prices and nearly fell out of my seat. Anybody know why Austin real estate is so expensive? Other TX cities to consider investing in?
- LandlordStation Background Check and Bankruptcy
- Is real estate still the best wealth building tool?
- Is the MLS website not the MLS that realtors uses?
- Calculating cash-on-cash return
- Thoughts on buying investment property with high DOM
- REFINANCING TO INVEST
- Purchasing home with father on mortgage instead of significant other
- Are tenants paying rent with Covid?
- Can electric companies put structures on your undeveloped land?
- Anyone buy a vacation home to also do STR?
- Orlando/Houston recommendations and stories
- Hoping for some help on analyzing my first deal
- Buying a property with a non-permitted ADU leased month-to-month in CA
- Favorite "last minute" negotiation tips?
- What type of interest rates are you seeing on SFH investment properties at 30 year fixed today?
- First time commercial property idea - need advice
- Where to save for a property?
- Realistic to invest overseas?
- Beginner’s Question- title company trying to buy land
- Career change
| Benefits of converting rental property to LLC. Is it worth it? Posted: 04 Jan 2021 04:07 PM PST I have just 1 rental property and would like to increase units someday in the future. I've read that the main benefit to converting rental property to an LLC is liability protection. If someone gets injured on my property, I won't be personally liable for it but my business insurance would cover it. Are there other benefits I'm missing and what has your experience to convert to LLC. Has it been worth it? [link] [comments] |
| Zillow API Usage - Python Wrapper Posted: 04 Jan 2021 09:31 AM PST I'm new to using Zillow API to research real estate properties. After gaining API access and getting a client ID token, I've been trying to use resources such as https://pypi.org/project/pyzillow/, https://www.youtube.com/watch?v=i3PbO46Ppu0&t=124s, and https://rapidapi.com/dimashirokov/api/Zillow. I realized these resources require Zillow's deprecated ZWSID client ID rather than the new client ID that I've been issued. I'm trying to resolve this error and unsure how to proceed. Would love to know from the community if people figured a way around this! [link] [comments] |
| Investing in out-of-state rental without PM Posted: 04 Jan 2021 10:16 PM PST Hi All! What do y'all think about investing out-of-state without a PM? The way I see it a PM solves the following problems:
To me it seems like property management costs a lot without having a big benefit. I've seen the breakdown to be pretty standard at: - 10% of rent - Placement fee (50-100% first month) - Work/maintenance calls $<X>/hr (~$50+) + cost of materials Which seems pretty high without offering a ton (when that could be put towards higher CapEx, home warranty, etc.) [link] [comments] |
| Posted: 05 Jan 2021 01:55 AM PST I am a US-expat living in Amsterdam. Own a single family rental in northern KY (original residence). Has been successful and considering other markets. [link] [comments] |
| LandlordStation Background Check and Bankruptcy Posted: 04 Jan 2021 09:35 PM PST |
| Is real estate still the best wealth building tool? Posted: 04 Jan 2021 09:32 PM PST I've been watching some YouTube videos and came across a few FB pages about wholesaling/flipping houses/etc and I began to wonder, is investing in real estate still the best way to make money? I mean in the sense that is has historically been known as the greatest wealth building tool. But is it still? With social media it makes me wonder, are all these real estate guros making more off their real estate investments? Or are they making money from their affiliate/ad/referrals/courses? Think about it, the modern day guro profits from Youtube, e-commerce courses/merchandise, affiliates (with the countless expensive services), and other ways I am sure. I'm always wondering that the best way to make money in real estate is. I always thought it was simply investing and holding. Or flipping and making a house look better. But with new innovation with technology and stuff like the Ring doorbell, I think I am missing something. [link] [comments] |
| Is the MLS website not the MLS that realtors uses? Posted: 05 Jan 2021 12:48 AM PST I'm considering getting my real estate license to flip properties. I have some exp and am just wondering. Is the MLS I pay a monthly fee for the same as realtors get or are they two different things? (MLS.Com) Just wondering because I've heard it's not and I really thought it was haha. Can someone confirm or deny this for me. [link] [comments] |
| Calculating cash-on-cash return Posted: 04 Jan 2021 06:49 PM PST Hello! I'm new to real estate investing and learning the basics. Here's a bigger pockets example of cash-on-cash return:
Can someone explain where the inflow of $20,500 comes from? If the home is now worth $110,000 and the owner still owes $87,500 ($90,000 mortgage - $2,500 loan payments), it comes out to $22,500. Makes me feel like I'm fundamentally misunderstanding something here. Thanks! [link] [comments] |
| Thoughts on buying investment property with high DOM Posted: 05 Jan 2021 12:11 AM PST I want to make an offer on a place I found in GA. It's been on the market for 300 days. It's a pretty small town, but I'm used to all the crazy bidding wars. I'm wondering if something is wrong.. or is it just stale and lost lots of interest. It a 2/1 duplex with a 12% roi. Newly renovated. Is anyone else scared of places that have been on the market a while? Or see them as an opportunity to get a deal? [link] [comments] |
| Posted: 04 Jan 2021 06:10 PM PST Hey Guys, I am currently thinking of refinancing my mortgage, pulling out the cash and using that as a down payment for another property. I currently have 135,000 left on my mortgage at a 4.5 interest rate. My house currently appraises around 180,000. If I could refinance at 3% my note would go up approximately 50$ or so. I would like the pull out the difference and use it as a down payment or some as a down payment and the rest to use for repairs. What would be my best approach or any advice someone could give that has done this? I am very new to this idea so that comes with a certain level of ignorance as well. Thank you [link] [comments] |
| Purchasing home with father on mortgage instead of significant other Posted: 05 Jan 2021 12:08 AM PST I live in CA but I don't see myself staying here for the rest of my life. Eventually I hope to move out of state when the time is right. Despite this I have always been interested in purchasing a home or condo, etc so I can live in it while I'm here and let it grow in value. I'm also drawn to the possibility of renovating it to my own liking. My boyfriend and I have been together for 8 years and have lived together for roughly 3 years. Recently I've thought about how much I wished I could make updates to my living space but I can't because we live in an apt. Boyfriend also does not see us staying in CA long term and because of this he refuses to think about purchasing anything. We view our finances differently. I am on a path to paying down my debt and limiting my credit usage whereas he thinks credit card debt is normal (I am working on changing that mindset). I graduated university 3 years ago and he graduated last year. I have been fully employed at a stable job for the past 2 years whereas he was recently let go of the job he was at for 3 years. I want to start preparing myself for a home purchase but it feels like it will be awhile before he is at the same level as me. This is a person I plan to stay with for a long time but as a child of a divorced household and have experienced firsthand how much tension assest splitting is in a separation. My father has constantly told me that he wants to make sure he leaves me with something (which is morbid, I know) but honestly I don't want anything from him but I wonder if adding him on my mortgage applications in the future would be a good idea? He currently lives in AZ, does not believe in credit cards, his house is already paid off, he remarried and his income consists of social security disability payments plus irregular work he gets paid cash under the table. If I went this route, I would not make him pay any of the mortgage because my boyfriend and I would be paying it off together. Money wise, I would basically treat my bf as if he were a tenant and I was a landlord. He has previously confirmed he would be willing to increase his portion of the rent if we moved into a bigger place. Would adding my father to an application (no credit, income consists of disability payments and under the table work) be more ideal than adding my bf (young, low credit score, currently unemployed but prospects of eventually getting paid well, has debt and continues to add, not married to him)? I'm not planning on moving forward with this for a while, I am just brainstorming. Feedback or things I should consider/ watch out for would be much appreciated! Age:26 Yearly income: $45k-$47k Credit score: 715-730 [link] [comments] |
| Are tenants paying rent with Covid? Posted: 04 Jan 2021 11:24 PM PST I'm looking to buy property soon and put tenants in. However do tenants pay rent? Any tips to find good tenants that do? Sorry if it's trivial. I'm also in NY [link] [comments] |
| Can electric companies put structures on your undeveloped land? Posted: 04 Jan 2021 03:05 PM PST Visited a wooded, overgrown lot in an HOA in Texas this weekend that I'm working to transfer to my name. No one in my family has had eyes on it for 20 years. Found a wood electric pole right in the middle of the lot, which an identifying company plate and number. Haven't called them yet. Are they allowed to run a line and pole through the land without telling us? Do you think it will be hard to get them to move it? [link] [comments] |
| Anyone buy a vacation home to also do STR? Posted: 04 Jan 2021 09:14 PM PST I'm considering buying a new construction property in an area I plan to vacation in. Ran numbers and would still generate income. Would want this to be pretty hands off so would hire a STR property management. Is 30% of the service for this service be in range of what to expect? Have a full time job that is demanding and am looking at this as a "life style" investment or a time share that pays me. For further context, own my primary residence and second LTR investment property [link] [comments] |
| Orlando/Houston recommendations and stories Posted: 04 Jan 2021 08:07 AM PST I'm looking for my first rental property. Looking in two markets, Orlando and Houston. My goal is to get own 4-5 duplex/triplex units in the same market in 5 years. Any tips, stories, or warnings for either market? Edit - seems like Orlando and Houston are not good markets for multifamily homes. I based these markets on average home prices and blogs that say these were good markets for investment due to increased jobs and populations. Any recommended markets for duplex/triplex investment in Florida or Texas? [link] [comments] |
| Hoping for some help on analyzing my first deal Posted: 04 Jan 2021 08:54 PM PST Hi all, looking to buy my first rental property. I have none right now, but my goal is to do three this year. I am meeting with two of my mentors this week but I thought I would open this up to your suggestions as well - I'm looking at buying a single family home, was originally 2/1 but single car garage was converted to a bedroom, so it's now 3/1. Needs a lot of work including a new roof and a complete HVAC system. Details are- Sale price 56,900 Rehab estimate (actually estimated by contractors) 45,847.55 All-in cost is right around 98k ARV - ~115,000 Estimated rent 900-950 This area has been appreciating by roughly 6-7% over the last several years. I'm looking into hard money for the purchase and raising the rehab cost through private money that I believe I could get. I am trying to get into this deal with as little cash as possible. If you need any more information just let me know, I'm curious to see how some of you analyze your deals. I fear that I'm getting some "analysis paralysis" right now! [link] [comments] |
| Buying a property with a non-permitted ADU leased month-to-month in CA Posted: 04 Jan 2021 08:07 PM PST I am planning to buy a house with a 500 sqft guest house in Los Angeles. The guest house is from ~1910, and nothing about it would meet current city codes. 1) Will I be able to keep renting this unit out legally? The tenant wants to stay, and has been renting the guest house for 10+ years. And even if the tenant leaves, I would like to rent out the guest house (if I legally can). 2) What happens if the tenant suddenly stats complaining to the city about code violations? Do I get some kind of grandfathered in conditions? Or could I suddenly be required to spend $$$ upgrading that guest house to be a permittee ADU? Legally, I'm not allowed to terminate the month-to-month agreement out of retaliation. So I'm worried the tenant could complain, and then I have to basically build a new ADU in a space the city would never allow a new one to be built... [link] [comments] |
| Favorite "last minute" negotiation tips? Posted: 04 Jan 2021 04:08 PM PST After flipping a couple dozen homes I have completely accepted this: im better at finding properties than I am at negotiating for them. More often than not I just take the home at a comfortable price without the risk of negotiation/pissing off seller or wholesaler to get he price I WANT rather than a price that JUST WORKS. I want to do better than this; and I currently have a chance at it. Currently looking at taking over a contract on a quick flip home; I have expressed a very serious amount of interest and am willing to buy the property but in reality I would like it for $25k cheaper than offered. When this is the case, and you're not willing to walk away from the deal, but would like to see some dollars knocked off; what is your favorite/most successful approach at successful price adjustment. [link] [comments] |
| What type of interest rates are you seeing on SFH investment properties at 30 year fixed today? Posted: 04 Jan 2021 07:33 PM PST I have an investment property loan at 4.13% right now with a 30 year fixed and am wondering if rates are noticeably lower and I should look into refinancing? [link] [comments] |
| First time commercial property idea - need advice Posted: 04 Jan 2021 07:28 PM PST I do not currently own any commercial real estate but I have interest in getting into it. I found a two unit commercial property that currently has one side rented for about $2,000 a month under a two year contract. Assuming I could rent the other side for the same price, that would bring in $4,000 a month. The property is selling for $465,000. Taxes are about $6,400 a year. What kinds of questions do I need to ask? The building is in an office park with very similar free standing buildings and is in a good area. [link] [comments] |
| Posted: 04 Jan 2021 03:23 PM PST Seems most people will use a savings account, MMF, CDC, etc. to save money for a property but I'm wondering if other vehicles could be good options as well. My employer offers after-tax 401k + mega back door and I was wondering if this would be a good place to put my money. With $37.5K in after-tax 401k (+ $6k in IRA - not sure if you can do both or the $37.5K counts towards your $6k limit) and then mega backdoored in Roth IRA, can't I withdraw my contributions at any time tax-free (i.e. for a down payment)? Obviously, there is the risk of needing the money during a bear market but with a conservative portfolio and alternative measures to acquire the money if need be (like an amazing deal), seems the minimal increased exposure is worth it for the larger return. Does anyone do this or is there a flaw with this thinking? [link] [comments] |
| Posted: 04 Jan 2021 06:59 PM PST I'm looking for opinions on whether investing in a single family home rental property in the US would be wise while living in Europe. This will be my first property, so that might be reason enough to stay away from the idea. What are your thoughts? [link] [comments] |
| Beginner’s Question- title company trying to buy land Posted: 04 Jan 2021 03:02 PM PST Why would an abstract and title company put an offer in on my land? Do title companies routinely buy land? [link] [comments] |
| Posted: 04 Jan 2021 06:43 PM PST Hey guys ! Sorry if this sort of post isn't allowed here . So, I was let go of my last job at the beginning of the pandemic, and have recently started taking courses online related to data analysis.. I've started working with a mentor in order to get an entry level job as a data analyst and am about to start applying to jobs this week. As I've been learning about data analysis, I've also discovered some YouTube channels on real estate investing and taken a lot of interest in them. So naturally I searched for a crossroads between both interests and found 3 job titles that stood out to me "acquisitions analyst" , "asset management analyst' and "real estate analyst" I want to get into real estate investing in the future (I live in DFW so maybe I shouldn't put it off lol) and I figure why not get paid to practice analyzing properties and grow my network etc My question is, how hard would it be to get into any of these positions at an entry level ? I have no prior experience in real estate, though I feel like the data analysis courses I've been taking could help me. It seems to me at least , like it's all just making sure the numbers look right, and I'm willing to learn new tools. Sorry for the long post ! Appreciate any advice/information [link] [comments] |
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