Real Estate Investing: Buying a property with a cell tower |
- Buying a property with a cell tower
- Is now a good time to invest in college towns?
- I’m interested to hear pros/cons about utilizing COVID payment assistance programs through your banks.
- Investing in Huntsville, AL
- Calgary, Canada. Has anyone invested there or know much about the market?
- Does tax base increase if I build a house on a vacant lot?
- BRRR using USDA loan??
- Winnipeg, MB, Canada. Has anyone invested or is investing there? If so, what are your thoughts?
- Closing date on condo is soon, have til Friday to reject the Resale Cert if I so choose...and I'm strongly considering it.
- Better to pay off or refinance or refinance cash out?
- How to best convert properties to an LLC
- Perks of house hacking?
- For those of you who have invested in syndication/funds... what type of financials are provided?
- How to get over fear of house hacking
- End Buyer - How to get good listings/leads
- Probate Will Purchase Offer?
- Minimum development requirements on RR-1 land in CA?
- Messy situation involving LLC
- Question about a “Personal Guarantee”
- Do lenders give better rates or get excited about financing a larger portfolio?
- Have investors who structure their investments as a business benefited more from COVID related gov grants/loans/assistance than individual investors?
- What’s the difference between buying real estate and buying into an RE fund?
- Is it easy to convert a HELOC to a fixed rate loan?
- Renting vs. Buying Apartment
| Buying a property with a cell tower Posted: 30 Jan 2021 09:20 PM PST I got approached today with a really interesting real estate opportunity and wanted to run it by some of you folks to make sure my thoughts made sense here. Current state:
My plan:
I'm going to review this with a lawyer next week, but want to make sure I'm attacking this correctly. Thanks! [link] [comments] |
| Is now a good time to invest in college towns? Posted: 30 Jan 2021 09:52 AM PST I've been thinking of buying houses to rent to college students. I'm looking in Binghamton, NY where the average 3 bedroom home goes for about $100k. Maybe my math is wrong but it seems like a slam dunk. Put down a $20k down payment, rent house for $1200/ month, minus $700/ month expenses leaves me with $6,000 per year in profit. On a $20k investment that's a 30% ROI, which is incredible. Does anyone here rent to college students? Has the pandemic hurt your investment income? I feel like by the summer things should start getting back to semi-normal again. [link] [comments] |
| Posted: 30 Jan 2021 07:38 PM PST I've been unemployed since March but my properties are all covered by renters. I don't actually know if I would qualify for payment assistance, but I'm interested to hear about your experiences with it. It would be nice to build up a bigger reserve, but I also don't need the assistance. Is it immoral to apply for it, even though I have no job currently? Any disadvantage to getting a few months of relief, if it is available to me? [link] [comments] |
| Posted: 30 Jan 2021 08:54 AM PST Any current investors in Huntsville, AL here? I was hoping to make my first investment here (I am local), but the market is just kind of crazy right now (houses routinely selling over list price, multiple offers, full cash offers, etc). Plus, I see many rentals on the market (3/2 SFH) that have been vacant for many months. Combined, it seems like a bad idea to get in now. But, I would be interested to hear from others who work in this area. Thanks! [link] [comments] |
| Calgary, Canada. Has anyone invested there or know much about the market? Posted: 30 Jan 2021 06:31 PM PST Calgary, Canada. Has anyone invested there or know much about the market? Particular interest in Condos, SFH, Duplexes. Any insights greatly appreciated. [link] [comments] |
| Does tax base increase if I build a house on a vacant lot? Posted: 30 Jan 2021 09:45 PM PST Let's assume I bought an RR-1 vacant lot for $20,000 in San Bernardino County, California. If I improved the land by building a house on the lot, would my property tax base be reassessed? Or would the property tax base remain at $20,000 (with 2% increases per year)? [link] [comments] |
| Posted: 30 Jan 2021 11:19 PM PST Has anyone had experience using a USDA loan to purchase and rehab a house? Looking at a 100k home in an area where comps are about 200K. I am looking at about 10-20K in rehab expenses. I don't have money for a down payment and this area is only 1.5 hours away from the city, moving there for a few months is no issue for me. My goal would be to owner occupy. Fix the place up myself and do a conventional refinance to pull cash out once rehab is complete. At that point maybe rent or sell the property depending on cash flow. Anyone heard of someone having success with this? Considering buying and flipping this rural area using USDA loans more of this actually works out. [link] [comments] |
| Winnipeg, MB, Canada. Has anyone invested or is investing there? If so, what are your thoughts? Posted: 30 Jan 2021 07:18 PM PST New here, I am looking to invest in real estate in Winnipeg, MB, Canada. So, just wanted your insights on what you think. Thanks! [link] [comments] |
| Posted: 30 Jan 2021 08:15 PM PST I'm buying my first condo (or at least trying to). And only just today I got the resale disclosure of which I'm given only until this Friday to give notice of disapproval. What I've reviewed so far is...less than ideal. I honestly don't think I can get a lawyer to even review these documents in time, and my gut isn't feeling this property anymore. The HOA's reserves are 46.5% funded...there is currently a special assessment for a whopping $7 million where each unit is paying north of $500/month (~$65,000 in total over 15 years) for on top of regular HOA dues amounting to $500/month. What's worse is that according to the reserve report the HOA is slated to become high risk of another special assessment in 2022! I'm trying to get on the line with a manager of the HOA to see what is being done to correct the ship here, but if I don't get an answer early this week I'm strongly considering pulling the plug on this. I know this question is probably best suited for a lawyer, but is there anyone that could perhaps give some guidance on where I can follow up and get more details as to how to best proceed? Also should mention - - 2 bedroom, 1 bathroom - Sale price: $410,000 - Monthly payments w/ tax + insurance + HOA: $2,650 (fair price given it's a HCOL area) - Special Assessment: $500 - Total: $3,150 (This is overpriced even for the HCOL) [link] [comments] |
| Better to pay off or refinance or refinance cash out? Posted: 31 Jan 2021 01:32 AM PST I have a question for the investors out there. I currently have as follows what would you suggest for a long term buy and hold strategy that maximizes return. Boston, MA area Currently 41 M I have 2 young girls 5 and 7 Doing well financially so banking 50k-100k from salary annually. Wife owns a company so have huge potential earnings if that is ever sold 10mil + Current real estate holdings 2 unit 750k market value 75k left on mortgage 4.25% 9 yrs left Rent 3,800 m 3 unit 800k market value 300k left on mortgage 4.5% 25 yrs left 4,100 m 4 unit (current residence) 1.75 mil market value 600k left on mortgage. 4.5% 24 yrs left 3800 m (currently in 1 unit not counted) 300k in cash not counting 50k emergency funds. All units have been renovated and roofs painted etc done. Total Rents all cover mortgages plus some. Should I be 1. Paying off each mortgage and snow balling starting with the 75k 2 unit and then 300k 3 unit etc?
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| How to best convert properties to an LLC Posted: 31 Jan 2021 01:13 AM PST So I have 3 multi unit buildings in the Boston, MA area and was wanting to convert them into an LLC for liability purposes. I have not converted them as of yet due to the mortgages could become due clause. I have all three mortgages through Wells Fargo currently and was looking for some advice / insight. I am looking to refinance and was wondering should I 1. I have 3 properties and 1 of them 2unit has 75k left on the mortgage a 3unit has 300k left on the mortgage and a 4unit (current home) has 590k left. I have 300k cash and loads of equity in all three current values (2 unit 750k) (3unit 800k) (4 unit 1.75m) . Should I pay off the first property so that I own it outright then convert to the LLC then take out a mortgage again then use that money to do the same for the next property until all three are converted or should I just try to convert 1 at a time and then refinance and make sure I have the cash if they call it due or should I just wait to convert to LLC longer? Thanks for the advice. [link] [comments] |
| Posted: 30 Jan 2021 03:07 PM PST Hello all, I wish to gain a better understanding of why the idea of house hacking is such a great way to get started in real estate. Let's say I bought a $250K duplex with an FHA loan of 3.5% at $8,750 (say 30yr mortgage) and then pay my monthly mortgage in my living unit while collecting rent in the other — wouldn't this in actuality take me ages before this mortgage is paid off at such a low mortgage rate and FINALLY becomes a cash flowing property? The part I'm mostly confused on is why it is such a great idea with how cheap the monthly mortgage would end up being, and how long that mortgage would take to be paid in full (creating cash flow). [link] [comments] |
| For those of you who have invested in syndication/funds... what type of financials are provided? Posted: 30 Jan 2021 08:03 AM PST I'm considering investing in a fairly large real estate syndication targeting B class multifamily. A friend of mine brought up the point that we should expect to see audited financial statements (eg. P/L, balance sheet, etc.) from the GPs but I have never heard that to be the case. Do you typically see audited financial statements in the syndication/funds that you invest in? What type of granularity of the numbers do you receive as an LP? [link] [comments] |
| How to get over fear of house hacking Posted: 30 Jan 2021 06:08 PM PST How do you get over the fear of having stranger's in your house? That things might get damaged or go missing? I previously house hacked and things went missing and broke. They ended up not paying the last two months rent but that's a separate issue. [link] [comments] |
| End Buyer - How to get good listings/leads Posted: 30 Jan 2021 03:33 PM PST I'm an end buyer in Texas most wholesalers on our FB REI groups are scammers. I'm wanting to know how I can find off market properties in my area? I have funding and can close quick just needing to secure a good deal. [link] [comments] |
| Posted: 30 Jan 2021 05:05 PM PST If someone has a execution to probate a Will, can I send them an offer letter to purchase the home? Is this something usually done or is this a bad idea? I am trying to find a home to purchase off market. [link] [comments] |
| Minimum development requirements on RR-1 land in CA? Posted: 30 Jan 2021 11:02 PM PST I'm looking at buying a vacant RR-1 lot in CA. What would be the minimum development requirements for it? Here is what I have found so far (https://www.codepublishing.com/CA/Holtville/html/Holtville17/Holtville1720.html), but I don't see things like minimum required house size to be built, etc. Or with RR-1 is there not a requirement to develop the land? [link] [comments] |
| Posted: 30 Jan 2021 10:31 AM PST Looking for advice. My wife and I own a triplex in our own names that for various reasons we never transferred the title to an LLC that we have. However, the business bank account that all the rent and costs flow through is "linked" to the LLC name. For tax purposes, are we actually doing business as an LLC or are we doing business as individuals? Specifically, this is for the purpose of trying to figure out whether we need to issue 1099s or not....Thanks guys! [link] [comments] |
| Question about a “Personal Guarantee” Posted: 30 Jan 2021 08:26 AM PST Hey guys! I'm a grad student and a lurker! I'm currently taking a grad class on real estate management and one of our first cases discusses building a 10 duplex complex on Philadelphia. In the financing portion the protagonist discusses the need to "never sign a personal guarantee" when getting the mortgage — which I guess makes sense (do everything as an LLC so if bankruptcy LLC goes down and not the person) but it wasn't something I've covered in other classes. Does anyone have experience with this? My goal is to start buying condos to rent in the next 18 months or so and I'm trying to wrap my head around as much of this as I can. Is this a "thing" today and how do you make sure this is worker into the lending agreement? Any insight from real life people in the field? [link] [comments] |
| Do lenders give better rates or get excited about financing a larger portfolio? Posted: 30 Jan 2021 12:47 PM PST "larger" is subjective here, but would a lender be more inclined to provide better rates by bundling several properties together? I have a couple of residential rentals that are free and clear, as well as my personal residence and some other commercial properties that have small notes on them at around 4-5%. I'm just curious if there's a strategy that ensures a better rate when pulling equity out of several units. [link] [comments] |
| Posted: 30 Jan 2021 02:20 PM PST e.g. someone who nested everything under a property management LLC from which they pay themselves (possibly others) a wage and hire out contractors? [link] [comments] |
| What’s the difference between buying real estate and buying into an RE fund? Posted: 30 Jan 2021 11:59 AM PST What advantages of buying real estate for yourself are denied by buying into a fund? Some are obvious, such as control of the asset itself, whether that's hiring your preferred property manager or whether to raze the place and build something else. But others, less so. If you had X amount of money, will it necessarily return more if you own the asset itself rather than a fund made up of like assets (let's say irrespective of admin fees, which I imagine are very real). [link] [comments] |
| Is it easy to convert a HELOC to a fixed rate loan? Posted: 30 Jan 2021 01:56 PM PST I have a lot of equity and no debt. I'd like to get a HELOC so that when my children come across their next real estate deal, I can draw on my HELOC and privately lend them the money to finance the deal. Their RE investment would be long term, most likely. Since the HELOC interest rate would be variable, I'd want to convert the balance to a fixed rate loan. I notice some lenders offer the option to convert a HELOC balance you have with them to a fixed rate loan (e.g., Bank of America). But assuming I get my HELOC with a lender that doesn't necessarily offer that in-house option, is it easy to go to another lender and convert a HELOC balance to a fixed rate loan? Can it be done soon after I draw on the HELOC? [link] [comments] |
| Posted: 30 Jan 2021 01:13 PM PST Just graduated and moving to a new city. Just wanted to ask those who have experience in this field about renting or buying my first apartment. Which is better? I know buying is more hands-on and more costs (own repairs, home association fees, insurance, etc), but I 'm quite lost of which is a better investment. I'm under the impression that renting is just money you'll never see again, whereas with buying, when you sell, you'll most likely see funds back considering the market is around the same from when it was initially purchased. Is this assumption true? Would that not make buying exponentially better than renting? Or are there more cons and pros that I'm not aware of, and that aren't explicitly discussed on the internet? I'd love to learn about those who have experience, and hear suggestions on what I should do. P.S. I won't be moving until a year, and will be able to save for a down payment if necessary. I'll have a stable income coming in, and can save a good bit depending on the % down payment needed based on a credit score of 750+. [link] [comments] |
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