Real Estate Investing: Does the 1% rule still exist? |
- Does the 1% rule still exist?
- Building a multiplex and house hacking
- Any U.S. citizens in this sub living abroad with rental property back in the States?
- Buying Out of State
- Arguments for a housing crash?
- Investing in a syndication/fund via an LLC?
- What information is actually worth paying for?
- Can you recommend the best (early) BiggerPockets podcasts for a beginner looking to get started out?
- [San Jose CA] [New Investor] First Fix and Flip
- Can somebody please enable my laziness and tell me where I can get good historical data for vacation properties?
- How do I transfer money to buy a property in Greece?
- Investing in Europe as a US citizen and resident
- Need Help Planning Next Purchase
- Buying under a LLC
- How to make offer on MFH I'm currently renting from?
- Best place to buy a house and rent it out
- Unique position: Investor and real estate license
- Is there any financial advantage to adding the cost of trash or lawn care to the rent and paying it yourself?
- Portfolio Loan vs Multiple Freddie Backed Loans
- 1031 Exchange
- Austin/Round Rock/Cedar Park new constructions
- How to strengthen my offer without more $?
- Is supply & demand seasonal?
- How do you manage/account for your "profits"?
| Posted: 25 Jan 2021 05:38 PM PST Hi All, Bought my first property just under a yr ago. Got it for 700k in Boston. Somewhat of a BRRR situation where i put about 60k into it and soon finding out what it is going to appraise at so i can hopefully pull some money out for the next property. Also house hacking so i currently live in the property but live with roommates and still take in about 6.5k/ month from roomates and tenants and my mortgage is 3k so im very much cash positive and stuck pretty true to the 1% rule of getting 1% of home value in rental income per month which was what i was looking for. Im looking for my next property and could potentially pull together up to 150k between myself and family that is willing to lend money if needed so could afford something in a similar price range if i were to do 20% down. Wondering if anyone has any locations that are good right now. I would have loved to get another property here but prices have just skyrocketed in the past year and i have been looking for about a month now and havent found many properties in the area that will give me a similar cash positive return as the one i am in now.. any recommendations. I am considering going to a different area and buying a cheaper property that i could put a lot of money into and then refi again just partially worried that i am buying at propably the height of the market.. seems like interest rates have just been dropping and dropping and im not sure they will continue on this path for much longer. [link] [comments] |
| Building a multiplex and house hacking Posted: 25 Jan 2021 04:02 PM PST New to this sub so this may have been answered already. I've made my mind up that I want to house hack for a few years so I can live cheap (hopefully free) and stack money and potentially use it for more property as I get more experienced on real estate investing. But I looked in my area and there aren't any multiplexes (2-4 unit) that are for sale in an area that I'm comfortable living in and I wanted to get some advice. Is getting a lot and building a du-, tri-, or quadplex smart? I figured it would be the same concept as regular but I would be starting from a different point. Like instead of shopping for property and fixing it I would just be shopping with builders. I want to know if anybody has any tips on how to get started down this trail. [link] [comments] |
| Any U.S. citizens in this sub living abroad with rental property back in the States? Posted: 25 Jan 2021 06:59 AM PST I'm a U.S. Citizen living in Europe who has been itching to buy property in the States for several years now. I've been pretty much in analysis paralysis for months because it's so hard for me to wrap my head around how I can make a good investment while being so far away. I've read "Long-Distance Real Estate Investing" by David Greene (from Bigger Pockets) but it honestly just made me feel like finding a good deal and making a decent return is extremely difficult while living thousands of miles away. Does anyone have any success stories about investing in the U.S. while living abroad? Could you point me to some valuable resources to help me go about the process better? I don't plan on becoming a full-time investor. I just want to start with one property while keeping my day-job in Europe. [link] [comments] |
| Posted: 25 Jan 2021 10:56 PM PST Hi All, I am planning to buy out of state. Does anyone have any advice on purchasing/closing without going to look at the property in person? Is there any helpful tips I should know? Should I work with a broker or with the listing agent instead to save on fees? I do not feel comfortable traveling out of state due to covid. Thanks! [link] [comments] |
| Arguments for a housing crash? Posted: 25 Jan 2021 02:51 PM PST Data has never been better on American housing. Record low rates Record low inventory Record prices Record homeowner equity Record rents Record homebuyer credit score Record positive debt to income ratio for buyers What are we missing if a "crash" is coming? Or is this really the healthiest market of all time and prices will continue roaring up for years? [link] [comments] |
| Investing in a syndication/fund via an LLC? Posted: 25 Jan 2021 03:21 PM PST For those of you who have invested in a syndication/fund as an LP, is there any benefit to investing via my LLC? My understanding is that the syndication/fund already provides liability protection as the assets will be owned in LLCs as well. And if I were to invest via my LLC (instead of personal name), are there any tax / tax return considerations to think of? I have a single member LLC that I've used for some buy & hold rental properties. I can't imagine there would be any harm in using that LLC for investing in a syndication/fund and since it's a passthrough entity, my tax return would be the same as if I invested in my personal name. Am I thinking through this correct? Please let me know if I'm missing anything. [link] [comments] |
| What information is actually worth paying for? Posted: 25 Jan 2021 01:23 PM PST Do any of you purchase information about your market or about potential properties? I have read about people using contact lists for property owners to find off market deals and I have been using zillow data to try to narrow down areas to focus on. Just curious what people actually use. [link] [comments] |
| Can you recommend the best (early) BiggerPockets podcasts for a beginner looking to get started out? Posted: 25 Jan 2021 04:41 PM PST I'm interested in investing out of state in a cash-flowing market, if that narrows things down [link] [comments] |
| [San Jose CA] [New Investor] First Fix and Flip Posted: 25 Jan 2021 11:30 PM PST Hi All, New investor here. We bought a SFH in San Jose in Sep 2019 for 1.1M (~120K below market value. horrible condition, home not staged, ugly ugly bathroom, >40 days on market). We lived in the home for 1 year and 2 months and fixed the house. We spent ~70K to fix the house (new bathroom, removed a wall, new flooring, new paint, high ceiling, new windows, made garage livable etc.) We are in the process of selling the property right now and we have multiple offers. Highest offer at 1.4M. TBH, I am so surprised that we got 100K above list price and we are going to make ~150K in profit on this one deal. I am freaking out now thinking about the taxes that I would have to pay and if there was something that I could have done to avoid paying taxes. Estimated Profit = 1.4M - selling costs (70K) - Repair Cost (70K) - 1.1M = 150K Questions:
Any other suggestions? [link] [comments] |
| Posted: 25 Jan 2021 11:07 PM PST I've been trying to figure out where to buy good data, AirDna, Beyond Pricing, Mash Advisor, Rented.com, etc. etc. While I do care about the right now, I care equally about wanted happened five years ago. I need a historical rent and occupancy series to plug into my models so I can make reasonable post pandemic projections. I've watched a couple of youtube videos on each to get an idea, but it's like watching two fat people have s*x. You get the general impression of what they're trying to do, but the technique is hardly best in show. [link] [comments] |
| How do I transfer money to buy a property in Greece? Posted: 25 Jan 2021 02:15 PM PST Hi, I'm a US permanent resident, British by birth, currently living in New York city. I'm in the process of trying to buy a property in Greece which apparrently requires me opening a Greek bank account. This is the case even though I am not taking out a mortgage. I am simply needing a Greek bank account to transfer the money to pay the vendor. One of the requirements for opening a Greek bank account is obtaining a tax residency certificate. The IRS provides this residency certification on Form 6166, a letter of U.S. residency certification. The problem is that there is a huge backlog and the wait for the certificate is at least 6 months and this delay is likely to cause me to lose the house I have a current accepted bid on. I would be interested to learn of any ways I can expedite the bank opening process or any other way of solving this problem. Thanks in advance. [link] [comments] |
| Investing in Europe as a US citizen and resident Posted: 25 Jan 2021 07:13 PM PST Hello! I have a life dream of owning a vacation home in Europe. I don't intend to live there, so ideally it's an Airbnb-able spot that I can have a property manager manage for me. I spent some time trying to find information about this, but it's not as easy as browsing Redfin, so I'm not even sure where to do my research. Any ideas on decent investment spots in Europe? I know several countries don't allow US citizens to buy property. Ideally I was thinking Italy but I'm not sure if that's worth purchasing in. I also read it's really difficult to get a mortgage there, so it'd have to be a cash purchase. Has anyone bought in Europe while living in the US? Where? Was it worth it? Sorry it's sort of a broad question. Not sure yet if this is a pipe dream or not. Would love to hear from y'all! [link] [comments] |
| Need Help Planning Next Purchase Posted: 25 Jan 2021 12:53 PM PST I'm 23 just getting started in real estate. Closed on my first property earlier this month that will serve as my primary residence for the time being. Ultimate plan is rent it out in the future. I've done some light renovation (paint, new roof, new gutters, general clean up, etc.) Paid 126k it appraised for 150k. 3% down conventional loan so not a ton of equity in the place. Haven't gotten it re-appraised after renovations. My goal is to obtain at least 5 units within the next 5 years. I'd really like to transition away from my W-2 job and into rentals full time if possible. That being said I'm not sure where to turn next. My question is what would be the best way to get into more properties? Is there a way to leverage the property I just bought to provide a down payment for the next deal? HELOC? If I save up down payment money again from my W-2 job, would I be able to take advantage of a low down payment by moving into the next property? Any advice would be greatly appreciated. I'm open to any and all suggestions as I'm not very experienced and would like to learn. Just trying to get another one under my belt and not lose momentum. Thanks everyone. [link] [comments] |
| Posted: 25 Jan 2021 06:26 PM PST Going to buy an investment party and keep under a LLC to avoid any potential lawsuits just in case. Going to pay cash and market is hot. Need to buy time to set up LLC. Can I put deposit down and get back while I get my LLC set up? Or need to do it all through the LLC? [link] [comments] |
| How to make offer on MFH I'm currently renting from? Posted: 25 Jan 2021 05:46 PM PST Currently renting in a 3 unit house and I'd like to make an offer to the owner as far purchasing it. I did some searching and came across this comment from u/sushikiller69.
The issue is that I'm having trouble coming up with a "good" number for a cash offer. I'd like to present a few options, as mentioned above. House was originally purchased a few years ago for $425,000, assume $40,000 in renovations. Rents collected is minimum $5,000/month, closer to $5,200. Comparable houses in the area could sell for $420-460,000. Unfortunately, inventory has slowed (and demand is high) so I'm trying to create an opportunity. Anybody have any insight into determining a "fair" cash offer? Thank you for your time. [link] [comments] |
| Best place to buy a house and rent it out Posted: 25 Jan 2021 08:33 PM PST I'm looking for the most value for my money, where shall i buy it? (Should be in an area where its not hard to find tenants). Pls don't tell me where i live, coz due to the nature of my job, my state keeps on changing) [link] [comments] |
| Unique position: Investor and real estate license Posted: 25 Jan 2021 01:01 PM PST Hi all. I currently work for an investor handling all acquisitions and also project manager for our rehabs/ developments. I am in my last semester of college and thinking of getting my license. We don't wholesale (we do purchase from wholesalers) so there shouldn't be an issue if I'm licensed. We mainly do rehabs and modular development. I will be representing us for all MLS purchases, and our lower end rehabs (selling). The main reasons for me getting my license: More cash: we typically purchase 12+ properties off the MLS (per year) Networking and building my own brand (eventually invest myself) eXp Brokerage: 80-20% split, $16k cap, more independent (what I'm looking for) Does anyone have any experience or any advice? Thanks! [link] [comments] |
| Posted: 25 Jan 2021 08:25 PM PST I know some people pay these items just to ensure they are done, but is there any tax benefit to collecting say an extra $25 per month for trash service, then paying that $25 per month yourself? I'm not looking to charge more than the actual cost. [link] [comments] |
| Portfolio Loan vs Multiple Freddie Backed Loans Posted: 25 Jan 2021 08:24 PM PST I have five Freddie backed loans for SFHs ranging between 3-4% on a 30 year fixed. I figure it may be cheaper/easier to consolidate all of these to a portfolio loan, but I can't imagine private money is offering an interest rate lower than 3%. Should I continue my strategy of financing through government backed loans until I hit the 10 mortgage limit, or is there a super cheap portfolio lender out there who can beat Uncle Sam? [link] [comments] |
| Posted: 25 Jan 2021 08:09 PM PST Hey all- Would love to hear any insight or advice on how to best go about this. It's very important to take care of taxes and 1031 is a great way to roll over capital gains untaxed. Does anyone have experience with this? Would appreciate any advice. Planning on selling a property in the northeast, and buying another with that cash in the south. Cheers and appreciate your help in advance. [link] [comments] |
| Austin/Round Rock/Cedar Park new constructions Posted: 25 Jan 2021 07:09 PM PST Already put my name to the waiting list to buy the house in those areas. Is anyway I can have a higher chance of getting selected to buy the houses [link] [comments] |
| How to strengthen my offer without more $? Posted: 25 Jan 2021 06:17 PM PST Fixer upper has been on the market for about 2 weeks now - major sign it's overpriced, properties in my area have been flying off the shelves and everything I've offered on has gone for significantly above asking. I want this property 20k below asking to fit my return and risk profile but the sellers agents insist they won't take a penny below asking or else the seller will lose money. She told my agent they are in no rush and will stay until they get their price. I have a suspicion this is BS - who sells a house to break even? I would imagine you only sell a house for two reasons: 1) earn a profit 2) you have to move which means you can't sit around forever waiting on a price that isn't coming. How can I strengthen my offer/make the sellers come down in price? Thoughts on resubmitting the offer 1x per week at $500-1000 less each week? See if I can make them sweat? There have been other offers made but apparently everyone is offering in the same ballpark as I am [link] [comments] |
| Posted: 25 Jan 2021 09:23 AM PST I recent saw a thread where people were saying supply will increase in spring/summer in Austin, TX. What's the logic there? Is supply and demand always seasonal like that nation-wide? Edit: I'm wondering if part of the speculative supply change will be from COVID movers? What does that impact look like? We can use Austin or another specific city as an example. [link] [comments] |
| How do you manage/account for your "profits"? Posted: 25 Jan 2021 10:51 AM PST Hi guys - multiple SFH generating some nice cash flow that I'm using for FIRE. After expenses, savings for capital expenses, emergency, etc. I still have some money I'd like to personally invest. Question is how do you guys do the accounting for the "profits"? - Do you withdraw the profits to your personal checking? - Are there best practices in the accounting side that I need to take into consideration? Thanks in advance! [link] [comments] |
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