Real Estate Investing: Would like to get funding on $144k duplex only 1 good year tax history |
- Would like to get funding on $144k duplex only 1 good year tax history
- Please explain to me why we aren’t currently at the height of the bubble for this market cycle?
- $200k Purchase Price, $1500 Rental Lease until 2023 - Good or Bad Deal???
- Are there metrics to compare stocks vs rental properties?
- Can I avoid interest on a HELOC like I can with a credit card?
- Mobile home flips
- 1st time purchasing new investment property and tying to create a ballpark budget to renovate kitchen (pics included).
- Can you buy property without an agent/broker?
- Wholesaler holding property owner under their thumb
- Considerations for buying out of state/remote?
- Is it possible to find private money for 15-30 year loan?
- Rent more than mortgage payment?
- Best rental cost (income/expense) organizer?
- Direct Mail Machines
- Sales Contract, Gift of equity.
- Transferring a Property to a New LLC
- What steps do I need to make to buy a house?
- $120k down payment
- Recommended Tenant Screening Services?
- RE Investing vs Economic Considerations
- I have a chance to speak to a friend of a friend who is about two years into REI. What should I ask?
- Mortgage Issues for Condos
- Wait time to seek HELOC after Reno+Appraisal?
- plz clarify property card land use description
- VA loan or navy fed cred loan?
| Would like to get funding on $144k duplex only 1 good year tax history Posted: 23 Jan 2021 02:48 PM PST Credit score 809, rental llc had $5k income 2019 and $10k income 2020. I can borrow for the downpayment or get money from relatives. Fannie and Freddie/SoFi said my 2 year avg was too low. Private lenders?? [link] [comments] |
| Please explain to me why we aren’t currently at the height of the bubble for this market cycle? Posted: 23 Jan 2021 10:32 PM PST Is another scenario like 2008-2009 going on but with more of a safety net? I see purchase prices of 2006 times at the height of the bubble. We have a sellers market and low inventory, multiple offer scenarios on a lot of stuff we are flipping specifically in multi family and residential under 400K. Luxury market is slow but still moving. Low rates and everyone and their mothers getting into purchasing rental property. Eviction moratorium in place, yes I know each state is different with what they can do. No federal foreclosures and so on. I know it's impossible to time the market I have learned the hard way!!! So more just curious what everyone else is experiencing? Midwest market! Also not saying that we don't have deals going when the cash flow fits during these times just something I have noticed ! Appreciate everything from this awesome RE community! [link] [comments] |
| $200k Purchase Price, $1500 Rental Lease until 2023 - Good or Bad Deal??? Posted: 23 Jan 2021 06:09 PM PST I'm thinking about purchasing a townhouse (no HOA) in an area that will most likely appreciate over the years. The rent is a $100-200 lower than current rent but I'll have to advise to the $1500 until 2023. Is this a good deal or should I wait? Profit would be about $$400-500 a month. I'll place $100 to the side door repairs. Purchase: $200k Mortgage with Escrow: $900 No HOA Savings for Repairs: $100 Rent: $1500 [link] [comments] |
| Are there metrics to compare stocks vs rental properties? Posted: 23 Jan 2021 11:06 PM PST Aspiring real estate investor here. Fundamentally, I'm trying to understand 2 specific items:
The second item is very similar to the first, but I've read up a lot on return on equity when it comes to a "continue to hold" vs "sell and re-invest" decision analysis, and return on equity isn't exactly an overall / big picture metric. For example, let's just assume the S&P 500 annualizes at ~10% and I want to be able to beat that benchmark with real estate investing. The following return metrics to choose from rental property analysis would be the following (please correct me if I'm wrong): Cash-on-Cash = [1st Year Cash Flow] / [Total Investment Amount] - Only valid for the 1st year of holding. Can someone confirm that it's valid to compare this number to the 10% annualized S&P return? Total Annualized ROI = {1 + [Total ROI]} ^ {1/(Number of Years Held)} -1 where Total ROI = { [Total Cash Flow] + [Total Appreciation] + [Total Loan Principal Paydown] }/ [Total Investment Amount] - Gives overall return figure but doesn't account for time value of money. Is it valid to compare this to the 10%? NPV = I won't bother typing this out - My understanding is that the discount rate that you choose is supposed to reflect your best alternative. In this case, I would choose 10%. If the NPV value returns a positive number, is that to say that the rental property (with future projections, of course) will perform better than the 10% annualized return? Can you even use NPV for different asset classes? Return on Equity = [Current Year's Cash Flow] + [Current Year's Appreciation] + [Current Year's Loan Principal Paydown] / [Current Equity] - Is it valid to compare this figure to the 10% S&P return? I also have trouble wrapping my head around this metric as a whole. Based on the formal definition of ROE, this is saying that the property's appreciation and the principal paydown from the tenant is considered as income. Is this correct? Many sites/articles are all over the place in terms of what actually gets included in this metric (ie. the numerator as described above vs numerator only contains Cash Flow) and I really don't know what's valid when deciding to either sell or continue to hold. My understanding is that this is a metric to be used AFTER purchasing a rental property. Additionally, the annualized 10% is just a capital appreciation amount. Would it would be more apples to apples if I included dividends as part of the cash flow analysis? TLDR: Is it possible to compare real estate investment returns to annualized stock returns? If so, what are the metrics and how are they defined? There are a ton of real estate investment return metrics to keep track of and I don't know which ones are valid to be used for comparison to alternative asset classes. Edit: Added quick blurb about including dividends in stocks as cash flow [link] [comments] |
| Can I avoid interest on a HELOC like I can with a credit card? Posted: 23 Jan 2021 05:40 AM PST When I use my credit card, if I pay it off immediately I pay no interest. Does a HELOC work the same? If I pull money out and pay it off quickly, like within a week, will I owe any interest on it? Edit: I knew you guys would know the answer! Thanks for all the help! [link] [comments] |
| Posted: 23 Jan 2021 01:57 PM PST Hi there, apologize if this has already been answered as its not letting me search in this group on my computer. I am looking to make my first real estate investment fairly soon and was thinking that doing a mobile home flip would be a good start due to low initial investment. wondering what experiences people have had with this, and what some of the risk factors they found to be associated with it were. edit: i am 20 years old, any other advice/suggestions you have is also appreciated Thanks [link] [comments] |
| Posted: 23 Jan 2021 12:35 PM PST I'm looking to purchase my first SFH investment property but before I do I wanted to get an idea of the potential cost of renovation of the kitchen. Since this would end up being my first renovation I was hoping the combined experience of /r/realestateinvesting could give a ballpark of what it would cost to bring this old kitchen to a modern one so I can compare it to my calculation. I'm not expecting exact details and pricing but assuming new cabinets, stove, refrigerator, sink, faucet, lighting, flooring, etc. to bring it up to expectations of an investment property I plan on keeping. Pictures: https://imgur.com/a/8A3eqpF/ Any and all help is appreciated! Thank you! Edit: Thank you to everyone who posted. You all gave me a different way of looking at the remodel. My originally estimates had me well over $15k and I just couldn't make the numbers work. Thanks for bringing me down to earth! [link] [comments] |
| Can you buy property without an agent/broker? Posted: 23 Jan 2021 10:28 PM PST And if so do you need your own real estate license? If you know your market what advantage does an agent give? [link] [comments] |
| Wholesaler holding property owner under their thumb Posted: 23 Jan 2021 06:11 PM PST I'm interested in a property, from an elderly lady who reached out to me, but she was a victim of a regional wholesaler that got a contract on the property for a year with nothing down at half the property value and immediately he listed it for double. I'm told that the contract expires in six months but I know that many wholesaler contracts have little tricks baked them. The lady actually does want to sell to to me but she is intimidated by this aggressive wholesaler that was going door to door with a contract and a pen. The property was put into a revocable trust, which she was not allowed to see, and that is under the control of the wholesaler, with a contingent mortgage that she is compelled to take back. All of the profits on doubling the property, of course, would be cash at closing. She is asking me what I recommend and it is providing her with a lot of stress. What would you suggest I do when dealing with an aggressive wholesaler Who is out for blood? [link] [comments] |
| Considerations for buying out of state/remote? Posted: 23 Jan 2021 02:19 PM PST Hi investing community! I was curious if anyone here has invested out of state. How did you guys find a good real estate agent and a property with good rents/good neighborhood? For context, I previously bought 2 rental properties but all are within a city I live in. But I'm hoping to invest in other areas since I'm not too bullish on the California market in the long term Thank you [link] [comments] |
| Is it possible to find private money for 15-30 year loan? Posted: 23 Jan 2021 09:37 PM PST Is it possible to find private money for 15-30 year loan? What interest rates would that likely be at? Some sample numbers would be on something like 350k over 30 years [link] [comments] |
| Rent more than mortgage payment? Posted: 23 Jan 2021 09:32 PM PST How do you find properties that pay you more rent than your monthly mortgage payment? [link] [comments] |
| Best rental cost (income/expense) organizer? Posted: 23 Jan 2021 12:16 PM PST Hello fellow investors. I am looking to become as efficient as possible when organizing all earning/cost related activities with my properties. It is nice having everything in one spot of course. I have not had luck with finding a good tool using Excel, although I'm sure they exist. Nonetheless I am open to try various tools, whatever the community may be willing to offer and help with. I'm sure others may benefit from this as well. Cheers! [link] [comments] |
| Posted: 23 Jan 2021 11:32 PM PST Looking for the name of these handwriting and stamp placing machines... [link] [comments] |
| Sales Contract, Gift of equity. Posted: 23 Jan 2021 03:24 PM PST Hey all, Buying home from family, I have a few questions about writing this sales contract. I'm just using some real estate purchase agreements on E-forms website. My lender recommended to use a contract online. The home appraised at $75,000 and we agreed on a price of $60,000. Does the sales price include the gift of equity? Should the gift of equity even be mentioned? Thanks in advance! [link] [comments] |
| Transferring a Property to a New LLC Posted: 23 Jan 2021 05:28 PM PST Not seeking legal advice or tax advice, just help pointing me in the right direction. I own a property under my business' llc. I would like to transfer it to a new LLC set up to hold the property separate from the business. My hang up is that it's not as easy as swapping the name on the title as far as I know and have worked with my CPA and a lawyer to set up the new llc, but not a real estate attorney. BUT... I'm being told that it would have to be "sold to the new llc at market rate" which would lead to depreciation recapture and a 30k tax bill to have to pay. Does anyone know of a better way to do this transfer and legally avoiding the tax bill? [link] [comments] |
| What steps do I need to make to buy a house? Posted: 23 Jan 2021 05:22 PM PST I'm about to turn 23 years old, pursuing a PhD, I'll be living in a very expensive part of California for the next 5 years. I heard about taking out a mortgage on a house, then renting out other rooms to pay it off instead of paying rent. Stats: - I pay roughly $1100 a month in rent not including utilities (split a 2 bedroom apt with a roommate) - I have 2 years of credit history and a score of 783 - I have about $30,000 saved. I don't want to go straight to a dealer, because I don't want to sign up for something I'm not able to understand / commit to. I was wondering if anyone had a similar story as me, or could share with me my next steps and what I should look for / watch out for. Anything is useful, thank you for taking the time to read this. [link] [comments] |
| Posted: 23 Jan 2021 04:56 PM PST If you had $100k - $150k for a 20% down payment where would you invest in real estate to hold for 5 - 10+ years [link] [comments] |
| Recommended Tenant Screening Services? Posted: 23 Jan 2021 10:34 AM PST Anything not to expensive and easy to use you could recommend? Something that deals with
[link] [comments] |
| RE Investing vs Economic Considerations Posted: 23 Jan 2021 08:16 PM PST Basically I was wondering how many of you consider the economy when buying real estate and if it makes a difference in decision making (in today's market) I stumbled on this video, and this guy brings up a lot of good points that's made me take a larger view of the economy and federal reserve and how it affects mortgage rates and housing prices - especially with the high forbearance levels right now. [link] [comments] |
| I have a chance to speak to a friend of a friend who is about two years into REI. What should I ask? Posted: 23 Jan 2021 04:30 PM PST As a real estate investor what questions would you be comfortable with? I want to ask what their approach is but I don't want to ask too much. Is it ok to ask for some contacts or an example lease? Is it ok to ask what legal structure they use and what insurance they buy? ROI? Anything I am forgetting? [link] [comments] |
| Posted: 23 Jan 2021 11:52 AM PST I'm trying to work out the best thing to do in this situation. My offer for condo in a vacation ski town (that I plan to use my self and rent out some too) was accepted and I'm about to start working through the mortgage situation. I already got preapproved with multiple big lenders (loan cabin, better.com, etc), but my real estate agent really wants me to use a local lender due to issues with low occupancy rates in the condos. He claims confidently that I will not get a mortgage if I don't use the local lender who has already approved all of the condo developments in the area. Now - I don't know if that's completely true, maybe it is, or maybe the realtor gets a kickback from that lender. My close timeframe is 30 days and I wouldn't be surprised if using one of the bigger lenders messes that up. The local lender would easily be able to get it done without issue BUT their rate is pretty significantly higher (loan cabin had me at 2.6% and the local one was 3.1%). I plan to ask the local lender to match - but I'm trying to work out a back-up plan if that falls thru. These are some of the options I'm considering:
Any thoughts? [link] [comments] |
| Wait time to seek HELOC after Reno+Appraisal? Posted: 23 Jan 2021 07:16 PM PST Have several rental properties (none currently leveraged). Bought a house for my family with the intent of fixing and leveraging equity for continued growth in my portfolio. Appraisal just came back and I now have about $300k equity in this new place. Is there a time requirement from banks regarding HELOCs? Or can I apply immediately? [link] [comments] |
| plz clarify property card land use description Posted: 23 Jan 2021 03:10 PM PST hi guys... looking at some raw land in the NE US... and i'm somewhat familiar with the axis property cards but not an expert, but am looking to be certain i can do what i want on the lot... and saw this line item: "Use Description: RES ACLNDV MDL-00" on the card. while i'm in a zone that permits light commercial with residential... hadn't seen this code before and wanted to know exactly what it means this was on the property card generated by axcisgis.com i can guess what it means but dot want be wrong of course... could not find definitions in the town's zoning ordinance. thanks in advance [link] [comments] |
| VA loan or navy fed cred loan? Posted: 23 Jan 2021 06:51 PM PST Anyone with experience on the difference. With the VA loan there's no down payment, however with NFCU it's a lower interest rate. Any advice would be much appreciated! [link] [comments] |
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