Real Estate Investing: Can i seller finance the 20% down so tenant can buy the house ? |
- Can i seller finance the 20% down so tenant can buy the house ?
- Just approved for my 1st real estate investment. (9 units)
- Can you take out a loan to cover closing fee when buying a home?
- House in county 2/1 but 4/3 in realty
- For rental property depreciation how much of the rent is taxed?
- Does having a primary residence affect your ability to rent an apartment?
- Deal analysis
- Why is it so hard to find information on auctions?
- How tf do I filter out mobile homes in my search?
- How reasonable is cold calling for potential leads?
- For a 1031, do i have to exchange my double unit for another multi-unit, or can i exchange for a single someday.
- Disolving a real estate LLC with a bad partner.
- Rent Moratorium and Residential Real Estate Investing
- How did you finance your real estate projects?
- Is real estate investing worth it for someone like myself?
- SFH Data Resources
- Seller lied and told me a new water line was put in
- 1st Investment Property - Advise running numbers please?
- Palm Beach, Florida property advice
- Motivated Seller Leads
- First property as a us citizen but with foreign parents
- What do you wish you knew before starting to invest in real estate?
- Are these expensive master programs in real estates and MBA with real estate concentration worth the time and money?
- QBI qualification?
| Can i seller finance the 20% down so tenant can buy the house ? Posted: 07 Feb 2021 06:53 PM PST I am getting out of rentals, Two will sell for a nice profit, one is lingering not much more than i owe. If i finance 20% would a bank give them a loan for the rest? (assuming decent credit and stable income) A monthly check for ten years or a lump sum if they refi, either would be fine with me. [link] [comments] |
| Just approved for my 1st real estate investment. (9 units) Posted: 07 Feb 2021 04:04 AM PST I'm really excited to say that I have finally been approved for my first investment property. 9 Units. All single family units. 8 houses are on one street and one deed, and the other is just a few blocks away. I expect it to cash flow $2,000/mo. All are currently rented out with longer term tenants. Appraisals are set for next week. Expect to close by around the 1st of March. If you have any good resources for new investors please let me know. [link] [comments] |
| Can you take out a loan to cover closing fee when buying a home? Posted: 08 Feb 2021 01:46 AM PST |
| House in county 2/1 but 4/3 in realty Posted: 07 Feb 2021 07:30 PM PST Hi. I am doing an offer on a single family and is listed in county as 2/1 but is actually a 4/3. Checking the sketch from the county website it shows AD1, EN1, EN1 and PFL so it shows one addition and two enclosures w/o plumbing. This means the two extra bathrooms are ilegal? If an inspection comes I will need to demolish? What are the chances? Any advice? Hard to find a house here without modifications [link] [comments] |
| For rental property depreciation how much of the rent is taxed? Posted: 08 Feb 2021 12:58 AM PST I paid 125,000 for a double unit, i'm living in one, renting out the other. The depreciation equation i used (from what i've seen here) is 125,000/27.5 = 4545.45/12 = 378.78 a month. OK. So if i charge 600 for rent, and after mortgage/tax/interest lets say i have 500 profit (thats just an example) would i pay income tax on 500? or would it be 500-378.78, being $121.22 taxable income. Still wrapping my head around the depreciation thing. Also, if anyone has any equations for figuring out how much of my rent income is actually profit after mortgage/tax/interest id appreciate it. Im a little confused about how to calculate it. If i have a $700 monthly mortgage payment, and i pay it all myself, is all the rent income profit? also including heat/electric for my future tenant too, which i understand would be deductible too (or is it deferred, is their a difference?) [link] [comments] |
| Does having a primary residence affect your ability to rent an apartment? Posted: 07 Feb 2021 07:56 PM PST Sorry if this is a stupid question, but yeah basically what the title says. Just want to know if an apartment is going to be all weird if I already own a house? Thanks! [link] [comments] |
| Posted: 07 Feb 2021 03:58 PM PST I am looking at a triplex currently listed for 399k. It brings in 3100 a month in income. Taxes were 5100 for last year, which I'm sure will increase and the amount for insurance should be around 1800-2000. Built in 2006 and seems to have been maintained quite well. Each unit is a 2/2 at approximately 1000 sq ft. My question is what should I be looking to pay for this property? Is the list price an ok deal? I'll be paying cash and then refinancing in the next few months to get a mortgage on the property. Thanks for any input. [link] [comments] |
| Why is it so hard to find information on auctions? Posted: 07 Feb 2021 11:02 PM PST Every county has its own chain of websites. There doesn't seem to be any standard guide for first timers. Like any other first time investor I looked at auction.com for hours. Then typed it into this sub to find many answers rejecting using it. What is the difference in auctions and foreclosures? What kind of liens do I need to worry about? Do I need to do a title search for every single property? [link] [comments] |
| How tf do I filter out mobile homes in my search? Posted: 07 Feb 2021 10:27 PM PST Searching Redfin. I search lots, I search condos, houses, town homes, multi family. I usually exclude the "other types" in my searches to purposely exclude mobile homes but no matter how I search, my results are obscured with mobile homes. Does anyone know how I can filter these out?? [link] [comments] |
| How reasonable is cold calling for potential leads? Posted: 07 Feb 2021 09:15 PM PST I've seen various people say that off-market cold calling by just driving around and either knocking on the door or calling them can work if you are motivated. eg. Thach Nguyen on BiggerPockets Podcast said he literally knocks on doors every week to this day, and he is a multi-million dollar investor. I am not opposed to doing this, just wondering if it works for less experienced/noob real estate investors trying to acquire fixer uppers, or if it's something that should be recommended for more experienced investors. Thanks [link] [comments] |
| Posted: 08 Feb 2021 12:35 AM PST Also, with the whole depreciation thing that i'm just learning about and trying to understand, does me living in one unit of the house while renting out the other change anything? Edit; Im in NY if that makes any difference [link] [comments] |
| Disolving a real estate LLC with a bad partner. Posted: 07 Feb 2021 09:31 AM PST I have a bad real estate partner, 50/50 LLC ownership who wants to take all the good real estate deals I find for his personal gain and not for our LLC partnership. He's Always lying, deceiving, greedy and lazy. We own a number of properties together, office with garage, a house and a number of vacant builders lots. Has anyone dissolved an LLC? If so what was the outcome? Thanks [link] [comments] |
| Rent Moratorium and Residential Real Estate Investing Posted: 07 Feb 2021 09:38 PM PST So I'm a young investor looking hard at Residential Real Estate Multi Family property, but what are landlords doing about the rent moratorium? How can anyone be expected to pull the trigger with this risky proposition and no moratorium for Owners to have to pay their mortgages every month to banks. How does one survive in this climate if they have a bunch of tenants who can't or won't pay their rents due to Covid. I'm empathetic as hell, I'm asking purely as someone who wants to make an investment but doesn't want to get into a rock and a hard place situation from the jump. How are you all dealing with this factor? And what if the moratorium is extended yet again? Please, any advice/insight would be much appreciated. [link] [comments] |
| How did you finance your real estate projects? Posted: 07 Feb 2021 07:00 AM PST Im new to the game and just wanted to learn how did some of yall finance or obtain your homes or units? [link] [comments] |
| Is real estate investing worth it for someone like myself? Posted: 07 Feb 2021 01:36 PM PST Hi All, I am very excited to begin on a very exciting but long journey that will be my experience in real estate investing. I am as new and new can be to this world, but it is something I am already ready to put aside hours and months for before I even come close to actually getting started. My main concern is that I have neither interest nor skill in the rehabbing or fixing of anything home repair related. I care about the property itself, it's value, future value, it's finances, the market and potential. This INCLUDES interest in understanding what needs to be done, but not actually doing the work myself. As someone small starting off, I would expect at the very least, my starter properties would require some maintenance and hiring a property manager may be cost ineffective and hurt me more than help me. The reason I bring this up, is not to sound lazy (which I recognize it is) but rather to get an honest gage on whether embarking on a journey of constant research and study for the next few years (prior to purchase) is even worth it? Am I just not cut out for this? Or are there other options? Will property managers be my greatest asset or something that is only a luxury to those with larger portfolios? I appreciate any and all insight. TLDR: I want to get into real estate investing, but have no maintenance or repair skill, experience or interest. Can I still be successful without this? Or is this a necessity that I need to get a grip on? [link] [comments] |
| Posted: 07 Feb 2021 08:57 PM PST I've been monitoring 12 different zipcodes in my investment city for the past ~90 days or so. Basically, this consists of going to Zillow and manually entering addresses, zip codes, asking price, bed count, bath count, year built, sq ft, and school points. Does anyone know a way in which I can obtain this data without having to do it manually? [link] [comments] |
| Seller lied and told me a new water line was put in Posted: 07 Feb 2021 10:23 AM PST So I just acquired my first property, when I met the seller "who renovated the property in 2015" I specifically asked if he did the main water line in which he told me he did. ( I know now that I should have physically put eyes on it) Anyway after I closed on the property the tenant immediately told me that over the summer he had to dig up a section of the yard to repair the water line because it busted, at that point I found out that the galvanized pipe had never been replaced. So now I have a $2,300 bill and just wondering how that works on taxes. Initially I thought it was just a write-off which would be great. But now I'm learning that it needs to be depreciated and if it's depreciated over a long period of time is it really worth it? I mean saving 80 bucks a year on a depreciation at that point I feel like I shouldn't even report and and take the $2,300 as a loss [link] [comments] |
| 1st Investment Property - Advise running numbers please? Posted: 07 Feb 2021 10:36 AM PST Thank you in advance Reddit My dad was a real estate investor but he passed several years ago. When he was alive we never went over how everything worked since I had no interest in it. I've been reading and teaching myself but I don't feel prepared for this purchase. My realtor who I trust explicitly (he's an honest, kind & selfless individual who I've known for years) said that the numbers are great but it makes me so uncomfortable not understanding the full picture & relying on trust vs. facts I can verify myself. I'm putting an offer down for my 1st investment property in CT. It's a 2 family that will be owner occupied. Asking price is 230k & I am able to put 25% down. I've been approved for 240k mortgage. Taxes are 4024 yearly & the Mill Rate is 36. My realtor says fully rented I can get my money out in 3 years with a 7% return but when occupied I'll be paying 200 per month to live there. Everything on the surface sounds great but I don't understand all the variables or know what other calculations I should be running. I don't know what I'm not accounting for. I have a giant knot in my stomach and am really trying to keep calm & be productive. Thank you everyone for your contribution to this post <3 [link] [comments] |
| Palm Beach, Florida property advice Posted: 07 Feb 2021 10:58 AM PST Hi, I do not know the most about real estate. I a here for some guidance. My mom is looking into buying some property in palm beach Florida to eventually rent and make some passive income. The places there are pretty cheap compared to NYC. Which is where we currently live. My biggest worry with real estate in Florida is the climate change crisis, and how it's only going to become a bigger issue within our lifetimes. Palm Beach is literally on a thin strip of land. I feel like it has a big hurricane season. any advice if you think palm beach is a good idea? [link] [comments] |
| Posted: 07 Feb 2021 06:29 PM PST I recently paid for a motivated seller leads file with 500 leads. First time purchasing it. How do you all approach sellers? Any advice to be offered would be greatly appreciated. [link] [comments] |
| First property as a us citizen but with foreign parents Posted: 07 Feb 2021 02:30 PM PST I'm interested in buying my first property (a condo in a city) to live in a for a few years - i typically need to stay there 8-10 months a year, and then possibly rent out in a few years. Just trying to research the best way to go about this I was wondering would it be better for a us citizen to purchase real estate whether as an individual or through an llc or are there any advantages for non-us citizens when purchasing real estate? I know this technically might not be considered real estate investing but just thought there might be useful/better information here. [link] [comments] |
| What do you wish you knew before starting to invest in real estate? Posted: 07 Feb 2021 02:17 PM PST I'm a total newbie to this so no advice is too basic. The sale of my current home closes in March (I have a 45 day lease back) and I'll be moving close to my work to eliminate a massive commute I've been living with for years. I'm hoping to purchase a home that I could rent out at a later date, possibly as soon as next year. What should I be looking for in a potential rental? What should I avoid? I benefited from the seller's market with my current home and I know it's still a seller's market where I'm buying (DFW metro) but don't want to bury myself either. I'm a single dad with three young kids that live with me 50/50. One of my kids is disabled so an extreme fixer upper isn't an option. I have strong income at my work (average around $15k gross/month) but I'm 100% commission and work in a volatile industry. I feel the need to diversify my income and I think I can do better on taxes than I've done previously by adding real estate to the mix. What are the basics I should be looking for in a rental? What type of financing is best if I'm going to turn it into a rental? I could do 20% down on most properties but should I be hanging on to more cash for future purchases or improvements? TIA [link] [comments] |
| Posted: 07 Feb 2021 10:10 AM PST I am more like an average joe investor investing in a few multifamily (mostly triplex and quadplex, definitely not buildings with 500 units) every year. I enjoy doing investing and have probably made myself a real estate nerd- my girlfriend are almost conditioned that whenever our conversation touches on anything related to real estate, she cuts it right away. She does a very good job predicting that I will go on and on nonstop talking about LLCs, asset protections, construction codes, worker injury lawsuits, cap rates, tax codes... and these days she is getting smarter to cut the conversation right away without hurting my feelings : ( My goal is to step up my game a little bit and investing in some smaller apartment buildings (say 5 to 20 units). Hopefully, at some point, I can quit my full time job and move away from Manhattan. There are all these real estate master programs in Manhattan (which is where I live). There are also many MBA programs that have a real estate specialization. The tuition of an MBA at NYU and Columbia is about $150k to $200k. The tuition for a Master in Real estate at NYU is about $90k. My question is do these programs really help you avoid investing mistakes and save you money in the long run? Do you CRE pros go to these programs? (in case you wonder, I am 29 years old, didn't go to ivy league or anything for college but do have a master degree. Been working full time in finance for 6 years since graduating from college. ) [link] [comments] |
| Posted: 07 Feb 2021 09:18 AM PST Does a rental property qualify for QBI? I'm tinkering with my return on TurboTax and it keeps asking me about it. Could someone please explain how QBI applies to a passive investment such as as a rental property ? [link] [comments] |
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