Real Estate Investing: Raise your hand if you’ve received a call about a burst pipe in Texas. ���� |
- Raise your hand if you’ve received a call about a burst pipe in Texas. ����
- Do any of you own land? No domiciles, just land?
- Foreclosure moratorium extended until end of June
- Pipe burst, how to deal with insurance & tenant
- How Will a Personal Loan Affect my Mortgage Application?
- What am I missing?
- Buy and hold/rent under $50k
- Will a spike in tax returns affect my buying power?
- What are different ways to generate income using strictly land?
- Seeking Advice on Areas of LA County Good for Rental Property Investment
- House hacking search
- Beat apps looking for looking at places?
- Can you recommend real estate agent in Denver metro specializing in out of state purchase?
- Saved 80K for investment property down payment. What's a good strategy to screen properties from my broker?
- Experiences with Las Vegas/Arizona Real Estate market for California folks?
- First flip didn’t go as planned. Need some advice on how to handle the “partner” In the project
- Can I get some advice on my current situation and where I'd like to go with what I have?
- How to find a good rural agent?
- Closing Cost
- Making my Tax return attractive to underwriters?
- Real Estate Investing
- How to find good realtor out state investment
- 1-4 Bedrooms Cost/Mo. Comps Web Sites
- California, Question About Raising Rent
- Refinance with cash out now without another property lined up?
| Raise your hand if you’ve received a call about a burst pipe in Texas. ���� Posted: 16 Feb 2021 08:10 PM PST |
| Do any of you own land? No domiciles, just land? Posted: 16 Feb 2021 05:42 PM PST If so, how do you use it to generate returns? Do you use it as a way to create a tax shield? Do you lease out its mineral rights? Really curious to learn more as I am thinking of just purchasing land without the intent to build anything on it. [link] [comments] |
| Foreclosure moratorium extended until end of June Posted: 16 Feb 2021 06:52 AM PST For those waiting for the foreclosures to start up again to stabilize prices, it's time to wait some more: [link] [comments] |
| Pipe burst, how to deal with insurance & tenant Posted: 16 Feb 2021 07:58 PM PST Please help. Location: Houston, TX. As you might know record low temperature causing pipe burst throughout our region. My rental is a one story single family house and the whole first floor flooded. Please provide me some of your experience dealing with insurance company & tenant. Regarding insurance, do I need to find GC or just use water restoration company suggested by insurance company. Regarding tenant, just break the lease and ask them to move out? Thank you for your help. [link] [comments] |
| How Will a Personal Loan Affect my Mortgage Application? Posted: 16 Feb 2021 08:02 PM PST Is there any way to measure the effect of taking out a personal loan shortly before taking out a mortgage? Questions I'm asking myself: Will taking out a personal loan disqualify me from a mortgage? Will it decrease how much mortgage amount I qualify for? Will it increase interest rate or down payment? Will it decrease my credit score? How can I get answers to these questions? Thanks! [link] [comments] |
| Posted: 16 Feb 2021 07:29 PM PST I was on Zillow messing around and looking at homes that I can't afford and came across this: https://www.zillow.com/homedetails/130-Daybreak-Rdg-HS641-Beaver-Creek-CO-81620/81780582_zpid/. Place costs 945K. Zillow estimates the monthly cost to be $6700. This same unit is rented out for 1000 a night. Obviously there will be vacancy, but let's say you rent it out for 20 nights a month. Thats 20K in the high season. Let's assume you can only get half of that in the 8 months that are not in ski season. Still, that covers your costs and some. Management is taken care of as the unit is within the hotel, I'm not sure what they charge but maybe 10-15%. This makes the property turnkey but slightly eats in to your profits... but still very profitable. What am I missing? I don't think the Ritz would sell this unit if it was this profitable... Am I being an idiot? [link] [comments] |
| Posted: 16 Feb 2021 06:33 PM PST I am looking to start real estate investing with 15-20% down on a buy and rent property that is around $50k. I have great credit, low debt, but a relatively average paying job ($55k) in an area with high housing costs (LA).
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| Will a spike in tax returns affect my buying power? Posted: 16 Feb 2021 08:33 PM PST In 2019 I made 15k Last year due to a technicality I made 250k on paper. I probably expect to make 50/60k this year. Will this throw a wrench and getting financed since on paper my income will have dropped substantially? [link] [comments] |
| What are different ways to generate income using strictly land? Posted: 17 Feb 2021 12:50 AM PST I think there could be some potential holes in the market and could get some deals on generating income on land. For example, waterfront land and using boat slips on a lake or land and renting out spots for motor homes. But it got me thinking after seeing another reddit post discussing land. What are some different ways land could be used to generate income? Has anyone had success? I am thinking of strictly land purchasing without intent of building properties on it. [link] [comments] |
| Seeking Advice on Areas of LA County Good for Rental Property Investment Posted: 16 Feb 2021 08:35 PM PST Looking to buy either a single family home (up to 600k) or multi family property (up to 750k) in LA city or elsewhere in LA county. My monthly costs are estimated to be $3,100 a month. Just began my search, but finding that in many areas the amount I would charge in rent would not meet my monthly costs or barely match it. Does anyone have any recommendations on neighborhoods or cities in LA county where I'd be able to at minimum comfortably cover my monthly costs with rental charge? [link] [comments] |
| Posted: 16 Feb 2021 11:19 PM PST What is a good app for looking duplex or multi family homes [link] [comments] |
| Beat apps looking for looking at places? Posted: 16 Feb 2021 10:15 PM PST TL;DR getting curious on what is available near me and exploring my options. I (25m) am trying to do this adulting thing and need a step in the right direction on where to look. Any suggestions will be greatly appreciated. Thank you! [link] [comments] |
| Can you recommend real estate agent in Denver metro specializing in out of state purchase? Posted: 16 Feb 2021 09:50 PM PST I live in California and would like to buy a rental property in Denver metro, then rent it out. Can you recommend an agent who can help me purchase and has connection with property management? [link] [comments] |
| Posted: 16 Feb 2021 01:06 PM PST Saved 80K for investment property down payment. What's a good strategy to screen properties from my broker? Goal is monthly income generation for household. To screen for such properties, I imagine (rent ÷ property-price)% around 2.00% is a reasonable method to estimate positive net flow. In this post I am looking for opinions on good strategy to screen properties from my broker. Property can be any residential type in states like Washington, Texas, etc. [link] [comments] |
| Experiences with Las Vegas/Arizona Real Estate market for California folks? Posted: 16 Feb 2021 06:01 PM PST I own a couple MFR in LA area but the laws and the legal environment is getting frustrating here. Thinking of investing out of state but do want someplace I can be within 4-6 hrs drive to check on things. Can you guys share your real estate investing experience in Las Vegas or Arizona while living in CA? Thanks [link] [comments] |
| First flip didn’t go as planned. Need some advice on how to handle the “partner” In the project Posted: 16 Feb 2021 08:01 AM PST I'll try to make this as short as possible. Had an agreement with my girlfriends brother on a flip. He's a very skilled contractor but has been down on his luck due to some workmen's comp injury many years ago. We agreed on a project where I purchased the property/materials ect and he would provide all the labor. His only payment would be him getting 50% of the profit at the end of the project. Well he took 16 weeks instead of the 8 he estimated and went about 15k over budget. Wasted a lot of time taking 3-4 trips EVERY DAY to various home improvement stores. So it turns out he's very unorganized and over all just slow. The estimate was that the house would sell for around 240-245k but one day maybe 3 weeks into the project a family friend of his who is a realtor told him he could see the house selling for (250-260) well he got fixated on this 260 number House is closing tomorrow for 235k with an appraisal at 240k and there will be a loss of about $1000 on the project. Meaning he did all of this work for nothing. He's now blaming me for not using "his realtor" who said he could sell the house for 260. I can't get him to understand comps and appraisals as he's mostly just blowing up at me accusing me of cheating him and yelling at his sister (my gf) constantly about the whole thing. I have all the numbers to show him the loss and his over spending and wasted time I'm considering coming out of pocket maybe 5k to help the guy out but the way he's been acting towards me is making me think otherwise. What would you do? This has definitely been a big lesson learned for me. (Sorry for any typos had to type this up quickly before a meeting) [link] [comments] |
| Can I get some advice on my current situation and where I'd like to go with what I have? Posted: 16 Feb 2021 06:50 AM PST I think I want to pursue more real estate investing in my 30's because I want the positives that come with it (Income, equity, business, finance, building something bigger than myself, knowledge on home repairs and ultimately financial freedom. This is me: 31, lives in SE USA. I work a corporate job making $55k (before taxes). I purchased my first home 5 years ago for $192,000 (Zillow says it's now worth $294,000 which I understand can be inflated). Since I purchased I have been house hacking to two other people which nets me $1000/month on my $1362.17 mortgage payment. For other investments, my 401k is sitting at $55,000, my Roth IRA is sitting at $21,676 and my individual brokerage account is sitting at $4531 with my total being $83,505. My savings has approximately $16,000 and I hold roughly $21,000 in cryptocurrency. So my goal is to spend this year saving and learning as much as I can about rental real estate investing. I think with the amount of money I have and where I realistically see myself at the end of the year would put me in an out of state market putting the work in the hands of a property manager. Also with my funds I think investing in a SFH for 3-5 years would be a good start and then either selling or refinancing for a bigger down payment to put towards a MFH or maybe two more SFH's. I've been reading a lot, listening to BP and looking at areas in Zillow that have a number of homes for rent and then seeing what is for sale around there. So I'm looking for advice and any critique from someone who has a better idea of the general process that is real estate investing. [link] [comments] |
| How to find a good rural agent? Posted: 16 Feb 2021 01:38 PM PST I'm looking to acquire 30+ rural acres for a development concept I'm pursuing. I am relatively knowledgeable about traditional non-rural RE, but have much to learn about rural land and development. How did you find a good agent for rural? I've been talking to some listing agents for properties I'm interested in, but would rather have a buyer's agent who is not selling me one of their properties. Need someone knowledgeable to help me navigate things like easements, covenants, zoning, terrain questions, valuation models, etc. Obviously very specific questions would go to specialists. I see there's an ALC accreditation for realtors, is this a good starting point or just some BS accreditation? Thanks in advance [link] [comments] |
| Posted: 16 Feb 2021 01:33 PM PST What are some closing cost you have to pay when buying a house all cash? [link] [comments] |
| Making my Tax return attractive to underwriters? Posted: 16 Feb 2021 07:04 PM PST I have 5 rental mortgages and I've run into a problem in the past where due to too many deductions on my tax return, my DTI was too high for approval on a new property. As I'm doing my taxes this year I want to avoid that mistake even if it means not taking as many deductions as I'm entitled to. Please tell me if my understanding is correct. For every property on my schedule E, my rents received should exceed the PTI+expenses for those mortgage payments not to count against my DTI. So if all 5 of my properties showed a net profit of $1 over the mortgage payment, none of them would count against my overall DTI. Depreciation is completely ignored by underwriters and I can claim that without it lowering that profit margin. So for example if I had a day job that earned $5k/mo, and my new mortgage was $2k/mo, my overall DTI would be 40% despite the other 5 mortgage payments, and I should get approved without issue. Is all that right? And then if I forgot some substantial deductions or tracked down the receipts up to two years later, I could file an amendment and get that credit back? I know the answer to a lot of this is "it depends" and "talk to your CPA" but I'm trying to get a handle on the basics. [link] [comments] |
| Posted: 16 Feb 2021 06:19 PM PST Hey Guys. First time poster here.. hoping to mine your deep experience and generous knowledge.. Hope I come across respectfully and all. :) So my partner and I together will have about 120k per year to invest. We bought our first home together last year. We want to retire in like 5 years.. Can we do this with real estate? I'm thinking we buy like 2x 140k condos per year. Maybe a little more.. idk. The tough part will be qualifying for loans, and not offending the gov't, as we're paid mostly in tips......... Planning on hiring a property management company of course, and making smart choices in investments. Either promising condos or at least 3/2 houses with a 2-car garage, in good parts of town. Pitfalls I'm overlooking? Advice for a young hard-working couple who wants out of the rat-race? [link] [comments] |
| How to find good realtor out state investment Posted: 16 Feb 2021 05:26 AM PST Hi veterans, I am new invetstor. I am doing some homework to interview realtors to help us acquire our first rental property out of state. Could you share your experience how can we find a good fit one ? What platform do you use to find them ? Zillow or help or networking referrals or something else ? What questions should you use to interview realtors that they are good for long fit to help you do BUSINESS ? edit: target area Ohio, GA Thanks, [link] [comments] |
| 1-4 Bedrooms Cost/Mo. Comps Web Sites Posted: 16 Feb 2021 01:40 PM PST Hello everyone. As a new guy on the block I'm looking to get into his 1st deal and having ran hundreds of feasibility analysis in my target markets over 2 years want to ask your opinion about conducting rental comps. What have each of you reliably used over the years? I use RentoMeter for free but sometimes it walls me in and asks me to pay to subscribe. This isn't optimal since I dont have a commercial-level-high demand for these analysis. PS: Please justify why you use what you use. [link] [comments] |
| California, Question About Raising Rent Posted: 16 Feb 2021 10:03 AM PST Hello Reddit, I'm a new landlord in California and I have a question about raising rents on a month to month tenant. Am I limited to how much I can raise rent on a tennant if I am exempt from the AB 1482? For example, if a tenant is below market price by approx. $500, could I raise it to that amount which would be roughly a 30% increase? If so, would i have to give a 30, 60, or 90 day notice? Of course I will consult a lawyer but I wanted to get some quick answers here first. Thank you! [link] [comments] |
| Refinance with cash out now without another property lined up? Posted: 16 Feb 2021 01:45 PM PST So I owe $70k on a 1 BR condo worth $240k. I plan on renting it out and buy a multifamily unit in another state and house hack (live in it and rent the other units out). Do you recommend refinancing and taking cash out now to take advantage of the current primary residence re-financing rates for my condo even though it may take another year to look for a multifamily unit in another state. Also what proof do banks need to show that it's your primary residence? How easy do we anticipate conventional financing to be this year or two? Do we think rates will go up? How likely will a bank give me another primary residential conventional loan if I just refinanced, anyone have experience on minimum time to wait to get a 2nd loan? Does it matter if I do it with different banks or the same bank? Rates are just too good now, I can even put the money in an index fund and make more than the 2-3% rates i've seen. (condo is in NJ, multifamily will be in CA). [link] [comments] |
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