Real Estate Investing: Federal Eviction Moratorium To Be Extended Till The End Of September 2021 If Biden Stimulus Is Passed |
- Federal Eviction Moratorium To Be Extended Till The End Of September 2021 If Biden Stimulus Is Passed
- I’ll be buying my first home in ~6 months, the plan is to buy and move in for a year or two and buy another and start renting. What should I start doing right now to prepare
- [REQUEST] Location Location Location
- I want to get into investing in rental properties. Where should I start?
- How do you know when to repair cracked / bowing foundation walls
- What to do about a house with unpermitted changes?
- Solar Farming Questions - Anyone with experience?
- Buying a foreclosure
- Airbnb/VRBO out of state in PA?
- Stick with what we have or buy another one?
- Which insurance policies do you use?
- FHA w/ Duplex - How Long Must Occupy?
- (Almost) first OOS deal
- Is there any possible way to do a 203k loan in NYC?
- Live in a state with income tax, but properties are out of state, what to do?
- Anchorage rental scene?
- What else is apart of a well balanced investing portfolio outside of stocks and real estate?
- LLC structuring in the case of multiple and flexible partnership
- If I buy a home for cash can I attach a mortgage after the fact?
- Cant find a bank that allows a second house hack, where to go from here?
- Lock in refi rate at 2.875% ?
- Squatters
- Is this rental investment a bad idea?
| Posted: 14 Jan 2021 04:01 PM PST Bidens stimulus package will extend the ban on residential evictions until the end of September 2021 if passed as written. Edit: Biden says it will be in place before the current ban ends at the end of January so it sounds like he plans to do it with an executive order. [link] [comments] |
| Posted: 14 Jan 2021 07:08 AM PST I'm a 24 year old software dev making $90,000 (which should continue to increase by a decent bit over the next few years) that wants to make the most out of my money. Originally I was just dumping excess into stocks (about $2500-3000/month) but it seems like real estate can yield better returns than simply throwing money into index funds. I want to shoot to retire in my early 50s and if I get lucky my 40s. My very rough plan is to do what's mentioned above until a get to 4/5 properties, putting ~10% down for each. Making sure I keep my equity at a decent % to prevent ruin (what % would this be?). While also continuing to invest in stocks. I've paid off my student loans. What should I start doing now to prepare for this venture? Edit: I don't care too much about living lavishly as well. Edit: forgot to put my credit score, 770 [link] [comments] |
| [REQUEST] Location Location Location Posted: 14 Jan 2021 03:52 PM PST Can this sub please require city/state/country on every post where it would even be slightly relevant? A requirement like this would make this sub much more streamlined and focused. That is all. [link] [comments] |
| I want to get into investing in rental properties. Where should I start? Posted: 14 Jan 2021 06:51 PM PST The title says it all. There are a ton of resources out there, but with "gurus" scamming people left and right, it's hard to know where to go as a person that's looking to tip their toes in the water. [link] [comments] |
| How do you know when to repair cracked / bowing foundation walls Posted: 14 Jan 2021 07:29 PM PST A property that I'm planning to make an offer on has a lot of cracks horizontally (see https://drive.google.com/file/d/1juBBuJAIeYTNYxG_ipePXkGUGWEfx2Cd/view?usp=sharing). But, I'm not sure what the appropriate solution to this should be. Especially, when this is a common problem for a lot of older properties. Is it always to get an inspection from a structural engineer? [link] [comments] |
| What to do about a house with unpermitted changes? Posted: 14 Jan 2021 05:12 AM PST Hi All, I recently got a private tour of a house that was going to be out on the market shortly. The house is a two family house (2 units of 3 bd, 1 bath). Over the years the owner has invested money into annexing the attic into a two bed unit with its own kitchen and full bath. The owner also converted part of the basement into a phenomenal one bedroom apartment, with its own fully equipped kitchen and bath. Two issues I am concerned about:
[link] [comments] |
| Solar Farming Questions - Anyone with experience? Posted: 14 Jan 2021 12:42 PM PST Is there anyone in this sub that has experience investing in solar farming and would be willing to discuss it with me? I am looking to start up an operation myself and have read up on the high level aspects of it but want to be more knowledgeable on the Real Estate side. FYI I work in CRE so I don't have broad real estate questions, just questions specific to solar farming. [link] [comments] |
| Posted: 14 Jan 2021 02:34 PM PST I want to buy a house for myself in a expensive market. I think my best point of entry given the cash sum I have at the ready is through a foreclosure buy. I have a bunch of time and am handy to do a lot of work on the house to get it livable after close. Can anyone share their experience or knowledge with foreclosures? A big question I have is do you still use a real estate agent? [link] [comments] |
| Airbnb/VRBO out of state in PA? Posted: 14 Jan 2021 01:12 PM PST I live in NYC and the prices of properties here are way too high and taxes make no sense so I'm looking towards Pennsylvania (particularly the Poconos area). House prices are significantly better and it is a vacation spot after all - I travel there quite often during skiing season and have rented homes. Anyone have an experience with these? I'd love to know how cash flow is. From what I found, the vacancy rate is quite high which confuses me cause during winter seasons there are a bunch of mountains and during summer/fall there are water parks, a casino, fruit picking, etc. Also would it be possible to hire a PM and cleaning crew to handle the day to day? Any information would be greatly appreciated! Thanks [link] [comments] |
| Stick with what we have or buy another one? Posted: 14 Jan 2021 02:43 PM PST Sorry for the lame title. Throwaway because I didn't want my fiances on my main. We own three homes right now. We have no actual mortgages but do have loans. Our main that we live in - It wan an owner fiance and we have less than 2 years left (it was 10 years total). House two: Prosper loan. Tenant pays loan. No issues. Other than it being a Prosper loan. Will be paid off in 3.5 years. house three: Paid in cash. However, we did a prosper loan to fix it to rent it out. Here is the dilemma. We may have the opportunity to buy a house for taxes owed - roughly 8k. Plus it needs a roof (quick note: the house is NOT leaking, yet, but needs a roof) which would be around 4-6k. We have all of that readily available. But the money to purchase this 4th property would be the money that was technically to be used to renovate the 3rd house. Why we want to: The house is insanely cheap. ALL comps from around the area are 70k+ (and those are the ones that are not renovated and were sold 1-2+ years ago) and up to 300k if they are completely renovated. Similar size houses and lots. So if we renovated it (it doesn't need a hell of a lot of work - mostly cleaned and some carpet/paint). Even if we just put a roof on it and resold it, we could come out ahead. Our plan: Buy the house. Put a roof on it/clean up yard, etc. and get a HEL/home eq/refinance The loan would pay off the Prosper loan for the 3rd house that was used to purchase this one. And it would give us extra money (ideally) to fix the 3rd house, which would put us in even better shape than we're in. If we can't get a HEL for whatever reason: fix what we can and sell. Should be able to sell for more than double what we would have it. The values of the homes in the area have doubled, or more, in the last couple of years because of a light rail that has been put in. So now they're building up the area with apartments and the taxes, home values, etc. have all gone way up. We already have someone who would be willing to pay what we need to cover the HEL and then some. How stupid is this? I mean, a lot of what we have done is stupid just so far it's paid off... [link] [comments] |
| Which insurance policies do you use? Posted: 14 Jan 2021 08:31 PM PST What insurance policies do you have for your rental properties? Do you have landlord insurance? Personal umbrella policy? Commercial umbrella policy? Just standard home owners insurance? [link] [comments] |
| FHA w/ Duplex - How Long Must Occupy? Posted: 14 Jan 2021 11:49 PM PST I understand its possible to use the loan to purchase a duplex and up property, but you have to occupy a unit. Is there a certain amount of time passed or % of the total loan paid, where you can then move out? or do you have to pay the entire balance of the FHA loan? Is this a common thing to do, or what would be a better approach if you wanted the low % down, but would prefer to move out of one of the units after 1-2 years? [link] [comments] |
| Posted: 14 Jan 2021 11:16 PM PST I'm doing my first 1031 exchange from a SFH (first and only rental property) here in CA into the Midwest. The process has taken quite some time (both selling and identifying) and I finally found a package of 8 homes off market that worked that I was really excited about. During inspections, we found some basic maintenance issues that the seller agreed to address before closing next week. Appraisals were supposed to occur today until the seller got cold feet and decided he didn't want to sell the entire package unless we pay $35k more so he backed out of the contract. $35k more would've ruined the deal and he was being super unprofessional so I decided that this is probably for the better. I got my earnest money back but now I'm out $2,700 from inspections. Has something like this ever happened to anyone before? My realtor said it's never happened in her 18+ years in the industry. I'm just feeling super unlucky and defeated as it's my first deal that was so close to going through. I'm hopeful that I'll find something better and lucky that I'm still at the beginning of my 45 day identification period. [link] [comments] |
| Is there any possible way to do a 203k loan in NYC? Posted: 14 Jan 2021 07:19 PM PST I figure the markets gonna rebound after the virus even thought everyone loves to say nyc is a ghost town... it's not [link] [comments] |
| Live in a state with income tax, but properties are out of state, what to do? Posted: 14 Jan 2021 09:14 PM PST Hello r/realestateinvesting As the title reads, I have my rental portfolio in a state that does not have a state income tax, but I live in a state that does have a state income tax. What do I do? Because I live in a state that has income tax, do I owe it on the rent generated from the state that doesn't have state income tax? This will be the first time I have filed while living in this new state with income tax and wondering how I need to sort it out. Thank you! [link] [comments] |
| Posted: 14 Jan 2021 05:24 PM PST What's the rental market like in anchorage Alaska? I kind of want to purchase a studio for when I go hunting, but I want rent it out in the 11 months I'm not using it. What's the long term and vacation rental scene like up there for anyone who's currently renting up there? Which would be more worth it? I know because of the seasons there might not be as much people some times of the year. [link] [comments] |
| What else is apart of a well balanced investing portfolio outside of stocks and real estate? Posted: 14 Jan 2021 08:54 PM PST I've been racking my brain and all that comes to mind are:
What else can you think of, art? watches? [link] [comments] |
| LLC structuring in the case of multiple and flexible partnership Posted: 14 Jan 2021 09:39 AM PST Hello r/realestateinvesting Two of my friends and I are considering investing in rental properties (single family homes). Our near-term goal is to purchase multiple properties in different states. We are wondering what's the best way to structure our LLCs given the below 'what if's'
We are thinking of having one LLC per home so that one property is not a liability to another during bankruptcy and such. And all the LLCs will roll up to a holding LLC based in Wyoming. Wyoming because the LLC owners can be anonymous. Did I get any of my assumptions wrong? Any suggestions are appreciated. Trying to figure out a little less burdensome structure that doesn't add a ton of administrative overhead. Thanks in advance [link] [comments] |
| If I buy a home for cash can I attach a mortgage after the fact? Posted: 14 Jan 2021 08:34 AM PST If so, is it a common thing or would I have limited choices of lenders? [link] [comments] |
| Cant find a bank that allows a second house hack, where to go from here? Posted: 14 Jan 2021 09:17 AM PST Hey all, currently running into issues that I don't see brought up too often, but wondering how others got around it. Purchased a duplex with 5% down about 16 months ago, fixed it up, got rents up, opened a HELOC to access all that sweet appreciation. Now I'm looking to do the same thing again, househacking another duplex, except I can't find a single bank that thinks their underwriter will allow this. It's seems from other posts and stories I hear that people do this all the time so I was surprised to run into this issue. I understand you have to have a legitimate reason, so I targeted an area about 15-20 minutes from where I live that is close to the hospital and school that my girlfriend attends for nursing school thinking that would be enough, but from the banks I've talked to it seems to not be enough. For those of you that have completed a second house hack, how did you get around this? Any specific banks that may be more open to this than others? [link] [comments] |
| Posted: 14 Jan 2021 04:28 PM PST Am I splitting hairs waiting for 2.7% interest rate or lower? I have been watching rates for the past 2 months. I got as low as low as 2.5, 2.6% from one lender verbally two-three weeks ago, but he hasn't provided me a lender estimate yet and seems to be slow/very busy. Because of this, I started shopping around again and am getting 2.875% rates. The lender I ultimately picked had 3% a few days ago and now 2.875%. Should I lock it in? I know it's hard to guess what will happen in 2 months before closing. Just wondering what people out there are thinking. I see Biden just announced a trillion dollar stimulus package so maybe inflation is going up and thus interest rates? My current loan is at 3.62% at 30 yrs, 2017 origination. New term would be 2.875% at 30 years. Can roll in 10k closing costs too. Would probably invest the 10k in the stock market if I rolled in the costs. Head is spinning from calculating numbers and different scenarios. My first refi.. any advice appreciated! [link] [comments] |
| Posted: 14 Jan 2021 08:21 AM PST So long story short I'm trying to get started in real estate investing. There is a property I want to buy but the listing says there are squatters on the premises. I am hoping to get a reduction on the price if I decide to buy with the squatters still in the house. My plan is to offer to pay them to leave. Has anyone ever had to deal with squatters? And more specifically; have you ever simply paid them to leave instead of going through the courts and how much did you offer? how much did them accept? It's winter and I live in Philly. No way I am going to get the courts on my side to force them to leave during the winter. But if I can get a discount on the property and pay the squatters off to leave, I think that could work in my favor. [link] [comments] |
| Is this rental investment a bad idea? Posted: 14 Jan 2021 03:02 PM PST I'm considering buying a home for $155,000 through a contract for deed (it's with grandparents, so I trust them). They would require $5,000 down, and the monthly payment would work out to around $650 with minimal interest % (still discussing exactly how much, but expected to be lower than what I could get from a bank. Let's use 2.5% for now). The home is in a great community and nearby top ranked schools. Based on other homes in the area, I could get $1,200 in rental income/month. I won't cash flow a lot, and the home does not pass the 2% test, but I figure I'd still be building equity in the home? Purchase Price: $155,000 DWNPay: $5,000 Monthly Payment: $650 Insurance: $800/year Property Tax: $3000/year Maintenance: 10% Management: 0% (I'll be managing) Vacancy: 5% [link] [comments] |
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