Real Estate Investing: Are the prices of smaller apartment buildings inflated compared to larger properties? |
- Are the prices of smaller apartment buildings inflated compared to larger properties?
- Advice on Non-Arms-Length transaction
- Cash out refinance
- Advice on appraises and refinancing
- Is the response to investing in a low inventory environment more complex than “develop!” ?
- An interesting idea
- What NAICS code applies to landlords and house flippers?
- Advice for getting the attention of a syndication sponsor? The sponsor has ghosted me.
- Advice for a 25 Year Old Interested in First Rental Property
- Property management companies - worth it?
- First time screening tenants, advice (Wisconsin)
- What is Your Debt to Equity Ratio?
- Experience in partnerships
- FL: Non conforming duplex
- Salary / Two mortgages / LLC / Write Offs
- Low CoC return...
- Regarding a registered agent?
- Bought a house for parents. Now have tax questions
- Lease strategy
- Rent out our house?
- Beginner Landlord
- Question in-regards to personally knowing a very wealthy high net worth real estate investor
- Advice on a 50/50 partnership?
- I want to divest my portfolio that is 100% one asset into real estate (primary residence). Should I put 20% down and take out a traditional mortgage or buy the property outright w/ cash and get a HELOC on it at a later time?
- Trade Rentals - Cleveland, OH Property
| Are the prices of smaller apartment buildings inflated compared to larger properties? Posted: 15 Feb 2021 01:38 PM PST I'm referring to net income generated per unit. It seems that smaller 1-4 unit properties have lower barriers to entry compared to larger properties, mainly that funding is easier to get. Does this make sense? Has anyone else noticed this? [link] [comments] |
| Advice on Non-Arms-Length transaction Posted: 15 Feb 2021 08:28 AM PST My wife and i have been renting a room in my MIL's home. She also lives in the home which is located in a highly sought after socal beach community. Both parties are interested in my wife and i taking over the house, which includes the mortgage (600k). The current value of the home is much greater than the mortgage, so we are not sure of the legal ramifications. She has a bad loan rate due to her own debt/credit score and we are wondering if we should co-sign a refinance with our credit score & income while putting us on the title or if we conduct a non-arms length transaction that includes a major gift of equity?.. or another option? She doesn't want anything from us except the ability still to live there after we take over. Thanks for any suggestions! [link] [comments] |
| Posted: 15 Feb 2021 10:28 PM PST Can someone please explain how this works? I bought a SFH for 260k and put meaningful renovations into it. Estimating at least $360k and want to cash out. How much does the upfront cost and is it too soon? [link] [comments] |
| Advice on appraises and refinancing Posted: 15 Feb 2021 10:00 PM PST Bought a SFH and flipping it as we speak (gah learned a lot and spent a lot). However, looking to getting it appraised to at least remove the PMI off it and get an idea of where we netted out with the Reno. We added 2 bathrooms and totally gutted/opened up the kitchen. Pretty massive improvements. Any advice on this stage and what to do/how to go about it? [link] [comments] |
| Is the response to investing in a low inventory environment more complex than “develop!” ? Posted: 15 Feb 2021 08:26 PM PST For RE investors / GPs seeking to maximize their returns, is this not one of the best times to build? There are many reasons you might not wish to build. Three of the many considerations are time, risk, and skill. In a low inventory environment, the relative importance of each of these would be lessened. Are there any investors out there who have recently become developers, others who are considering it? [link] [comments] |
| Posted: 15 Feb 2021 11:35 AM PST My house is in a very desirable neighborhood where homes are currently selling fast. My side yard has a stream going through it and it's very tranquil. The thing is, the front of my house has a very large, flat and unused lawn that seems ripe to build on. Here's the question. I know I could sell it to a developer because a few people around the neighborhood have done the same thing. But would it make sense to then use the cash from the sale of the land as a 20% down payment on the newly built house that the developer would build? I'd have this large chunk of cash (seemingly from nowhere), along with lower property taxes on my current home, so why not strike a deal with the builder to purchase it at an agreed upon price at an agreed upon date? At that point, I could theoretically sell it (most likely for a nice profit) or rent it to whomever I deem fit and cash flow. I know there are caveats and risks, especially considering the 1.5-2 years it will take to deliver the final product, but I do see a lot of benefits to doing this. Please, if you would, poke holes in the plan... [link] [comments] |
| What NAICS code applies to landlords and house flippers? Posted: 15 Feb 2021 01:18 PM PST Folks, has anyone had to use a NAICS code to set up their LLC? If so, what is the best code to use? Thanks in advance. [link] [comments] |
| Advice for getting the attention of a syndication sponsor? The sponsor has ghosted me. Posted: 15 Feb 2021 05:03 PM PST A syndication I invested in about a year ago, I was getting regular updates for about year and now I get no response to requests for updates on the property. Looking over the paperwork there really isn't much recourse, legal action goes to arbitration and fees would be born by me. Regular updates are "best effort". I don't think there is fraud occurring...yet. I'm just kind of pissed since I see the sponsor talking up their othe RE activity on social media. Seems like they have time to work their other investments but can't send out updates for mine. What would you do if you were me? I've only communicated with the sponsor in the past but I have the names of the other people on the management team. [link] [comments] |
| Advice for a 25 Year Old Interested in First Rental Property Posted: 15 Feb 2021 06:10 PM PST Hi all. I want to invest in my first rental property. I am currently 25 and have enough saved for a 20% down payment on a rental property up to 200k (with enough left to be invested in stock market and emergency funds). I currently live with parents but plan to move out soon (will explain later down) I already have an area in mind, location, and research about that area since I once rented there myself. Where do I start to get the loan? An investor loan? First time home buyer loan? An important factor is: I plan to buy my own home to live with my family in about 3/4 years. What type of loan can I get so when it's time to buy my own home down the road I don't run into issues with being approved for a loan? I plan to have enough saved by then for a down payment whenever that time comes. Appreciate your help and guidance. [link] [comments] |
| Property management companies - worth it? Posted: 15 Feb 2021 01:30 PM PST Hi all, I'm looking to invest about 4hrs away from home and have though about hiring a management company to handle the property / future properties as I won't be in close proximity so hopefully this makes things less problematic if something did go wrong. I'm wondering if their fees, about 10% of the rent, are worth it considering I'll still need to manage the manager. Has anyone got any experience of dealing with a property management company for properties far away? Any pitfalls or things I should be aware of? Is the time / effort saved worth the cost? Thanks for any advice! [link] [comments] |
| First time screening tenants, advice (Wisconsin) Posted: 15 Feb 2021 11:24 AM PST Hello all, I've had a duplex for a while and the lower tenant is one inherited when I bought the place. He has been nothing but fantastic but he's moving to a new state so I'm starting the process to find a new tenant. I've already posted the listings and within 48 hours I've gotten 20+ people who have reached out wanting to tour. Needless to say I'm a little overwhelmed at the moment and am looking to have some questions answered. 1) At the moment with COVID, I don't want to bring 20+ people at various times into my current tenants half. Should I do a pre-screening for income/employment and landlord references before bringing anyone in to actually tour? Figure that should disqualify a lot of people quickly. 2) For doing income checks, is it proper to have them submit 2 months of paychecks? I can then call their employer and confirm their employment too. Or is it normal to ask for tax forms from previous years? 2.1) Along with income, I know there's no easy way to get a free credit check from my side, but would it be normal or not to ask for their credit report since everyone can check theirs yearly for free and have them send me it? 3) When it comes to having them submit said paychecks etc., what is a secure way to go about it? Is there a website that allows secure transfer of documents for free? 4) If we get past income/tours, and both agree we'd like to get to business with each other, how do you go about running a background/credit check on someone? At this point I would obviously be fine paying for a proper background/credit check. Sorry if I'm asking redundant questions. If there are any existing threads or websites I could look at that would contain this information, feel free to point me in their way to avoid redundant information. Thank you! [link] [comments] |
| What is Your Debt to Equity Ratio? Posted: 15 Feb 2021 09:06 PM PST |
| Posted: 15 Feb 2021 09:01 PM PST Does anyone have experience finding a business partner who works in the trades and working out some kind of split or free rent for them to have them improve properties? Is this risky? Any advice on how you find someone who is good? [link] [comments] |
| Posted: 15 Feb 2021 08:02 PM PST In 2010 I bought a duplex that was zoned Multifamily and use was Multifamily. Over time city zoning laws changed and my area is now zoned single family residential. Obviously I am grandfathered in to remain operating as a duplex But after updating myself about non confirming use and learning that it has a limited lifetime. Essentially could the city force me to conform and not allow me to rent both my units? I have lived in one unit for about 2 years. Then rented it again after I moved out [link] [comments] |
| Salary / Two mortgages / LLC / Write Offs Posted: 15 Feb 2021 08:02 PM PST Greetings! Looking for some financial guidance. About me: 39 live in Los Angeles, full-time employee salary 150k, no debt and 40k in savings. Own a condo downtown and just purchased a single family home with my partner. Condo: $2755 plus HOA $650 / month Single family: $4000 /month (split this with my partner so my portion is 2k). I'm wondering what to do with the condo. Should I sell it or rent it out? If I rent it out I would be able to get around 2600k - 2800k based on my neighbors rent for identical units/features. I'd obviously have to cover the HOA out of pocket. Is there anyway to make this beneficial long term? Can I write any of this off, or I've heard about starting an LLC for the rental? Or should I just sell it and after fees I'd make around 30k on the sale. Also I was thinking about keeping the condo and starting a business while using it as my office space. If it was an LLC could I write it off and have it benefit my just keeping it and not selling it? I could also just work from my new house. Ultimately I'd love to keep the condo but trying to figure out if there are any tax benefits to keeping it. Forming an LLC to write off the Out of pocket HOA if I rent it or the write off if I use it as office space. I appreciate any insight even if it just, "hey man sell the condo." Thank you kindly! [link] [comments] |
| Posted: 15 Feb 2021 11:16 AM PST We are trying to buy a multi family property, literally anywhere but we aren't getting anywhere near 10-12% cash on cash return. Is this just impossible now a days or am I doing the math wrong? Example: 480k duplex, 2700 rent total, 20% down, 2% closing, 30 years to pay off, 3.25% interest, 10% maintenance, 2016 insurance, 4128 taxes. I'm getting a 1.45% cash on cash return...and in the house description it says "excellent money maker" [link] [comments] |
| Posted: 15 Feb 2021 09:09 AM PST I'm in the process of setting up an LLC and my attorney mentioned that using them as a registered agent would be $300 per year. I'm not really sure what is a fair price for a service like that, buy a quick google search shows random make-an-LLC sites advertising $49 per year. How crucial of a service is this that would justify a premium of $300? What are the benefits of keeping things entirely in house with the attorney? I'm an out of state investor. My market is in Eastern Pennsylvania. [link] [comments] |
| Bought a house for parents. Now have tax questions Posted: 15 Feb 2021 07:36 PM PST Context:Sibling and I bought a house for our parents. Sibling and I are on the loan, mother, sibling and I are on the title. We rent out the lower half to tenants and live in the upper half. I collect rent checks. My sister gifts me her share of the mortgage so I technically the mortgage in full. How am I supposed to file taxes on the property? I've read that I should treat 50% as an investment property and the remaining 50% as my primary residence. Questions:
Really appreciate any guidance! I am engaging with an accountant this year but would love to hear from anyone who's in a familiar situation as it seems like even accountants are saying different things when it comes to house hacking. [link] [comments] |
| Posted: 15 Feb 2021 09:51 AM PST I'm not too familiar with the world of renting, I currently have a tenant till September. They pay $1,400 a month but have expressed willing to move soon. So I'm thinking of offering a short term 6 month lease at $1,600 or a one year lease at $1,500. Of course if they wanted to sign another 2 year lease it would be $1,400 [link] [comments] |
| Posted: 15 Feb 2021 07:00 AM PST Wife and I are trying to decide if this is a good call — we're new to renting entirely, but the numbers on paper seem to work out. We currently live in a 1800sqft house. Our mortgage (incl insurance and taxes) is 30yr (29 left since we refi'd last year) $1150/mo. HOA is $50/mo. We live in the suburbs, but a microprocessor company just announced they are opening a giant factory about 2 miles from our doorstep. In the course of a week, our neighborhood went from having an average of about 6 houses up for sale to 0. Since purchase 5 years ago, our home value has gone up from $260k where we bought to $330k. We were already looking at moving because my wife is on a job hunt, but with comparable houses in the neighborhood renting out for $1800-$2100/mo it seems entirely inadvisable to sell. Seems to us that we should instead scrape up a down payment (even if it means paying PMI) on a new house and rent this one out, putting the profits towards first paying down the second house to where we can refi out of the PMI and then towards overpaying the first house mortgage so that it will someday just pay profit. My impression is that with $2000/mo, we should expect to pay $200/mo to have it managed, and further tuck away another $300/mo to pay for breaking utilities/maintenance. That would leave us with $350/mo after the mortgage is paid to either put towards the new house's mortgage or tuck away. Am I overlooking anything? Any Hidden costs? This seems like a big step, and though we've moved a couple of times - we've never just outright purchased an additional house, so we're back to the nervous uncertainty of new ground. [link] [comments] |
| Posted: 15 Feb 2021 01:29 PM PST Just looking for any helpful advice. I am in my early 30s and have 100k cash to finally start my dream of quitting my 9 to 5 and rent out properties for my career to spend more time closer to home with my wife and child. I'm just stuck on how to invest for my first property. I know it depends all on Cost of Living and other various factors, but starting out is it smarter to buy a multi unit such as a duplex and put 20 percent down or buy a cheap but move in ready single family home for around 75 to 80k in cash and rent that out with equity 100 percent paid for? The duplexs by me are likely 150k to 275k and I could rent each unit out for around 900 to 1300 a month. The single family would most likely be rented out for 700 to 1100 monthly. Thanks for any advice! [link] [comments] |
| Question in-regards to personally knowing a very wealthy high net worth real estate investor Posted: 15 Feb 2021 07:15 PM PST Hello, My dad and I know this very wealthy high net worth real estate investor, like we know him very well where we can just show up at his house and he'll not even care, whatsoever, he would let us in his house and everything. But, what my dad and I were wondering, and this is an all-seriousness question, since we know him very well, how can we get wealthy like him through real estate like he is, since he has all this capital? Like, how could he possibly help us under his wing to have us be wealthy like him, because he would do that. What would be a good real estate strategy where we could gain a ton of wealth? Would there be a way where he can get a commercial building, he puts 90% down and we put 10% and that can really get us started to wealth, immediately? [link] [comments] |
| Advice on a 50/50 partnership? Posted: 15 Feb 2021 11:50 AM PST Hello! A close friend and I are looking to get into a 50/50 partnership on buying at least a few rental properties over the next few years. I'm curious if there is any advice on things to think about or be especially careful of when setting up a partnership? We plan on splitting everything (costs, time spent, and profits) right down the middle to keep it as simple and drama free as possible. We both have high income main jobs so this is a side project for us to generate some extra income. Appreciate the advice! [link] [comments] |
| Posted: 15 Feb 2021 08:40 AM PST I am interested in purchasing a primary residence and "using" it to my advantage (borrowing against it with either a traditional mortgage or a HELOC). Right now, I am 100% invested in a single asset that is worth $x million. An outright purchase plus all taxes would cost $y million, where My main goal is to divest anywhere from 1/4 - 1/3 away from the single asset I am holding now. Because of this, a HELOC sounds the most reasonable. Given all this, does a HELOC make sense here? Might it make more sense to still divest the same amount but put 1/2 into the primary residence and get a traditional mortgage and then 1/2 into a different asset, such as a REIT? [link] [comments] |
| Trade Rentals - Cleveland, OH Property Posted: 15 Feb 2021 11:02 AM PST Anyone have a a rental that they would like to trade? I thought I would throw this out there before I go the selling route. I have a paid off 3 unit property located in Cleveland, OH- 44105 zip code area. Each unit is 2bds/1bath that rents out for 650/month and fully occupied. Looking for businesses or properties that are in the Western States. Let me know what you have and if interested. [link] [comments] |
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