Real Estate Investing: Stumbled on this 95 unit property on loopnet. How do 33 buildings get to such a point of destruction and decay? |
- Stumbled on this 95 unit property on loopnet. How do 33 buildings get to such a point of destruction and decay?
- Real estate in another state - do I form a second LLC in the other state?
- Second home dilemma
- Where to find investors/businesses looking for Open Land to contruct apts/weedfarm/etc.?
- Financing an adu
- FixnFlip-No Enough for the Rehab Cost
- Smart Door Locks on units and Garage Doors
- Another "noob" post
- Local bank vs online for loans
- High-density residential zoned property
- Trying to get into real estate
- Glut of Houses on the Market
- Investing in real estate on Mars
- BRRRR Method and Over-leverage Question
- What does it mean if an area has "very low zoning"?
- Conventional loan
- Financing strategy, no W2 income
- Underwriting Help: MF With Retail
- Beginner advice appreciated!
- How much to get started flipping SFHs?
- Inherited Property
- Do you have a threshold under which you’ll pay for repairs out of pocket vs. filing an insurance claim?
| Posted: 18 Feb 2021 06:30 AM PST http://www.loopnet.com/Listing/21635712 Is it normal to come find properties like this? What is normally the reason they get to such a point? [link] [comments] |
| Real estate in another state - do I form a second LLC in the other state? Posted: 18 Feb 2021 08:54 PM PST I live in upstate New York. I own two commercial office buildings. I have an LLC for them. I am buying a warehouse/garage in Florida that I will rent out. I may (or may not) buy more Florida commercial property in the future. It is unlikely I will buy more NY property in the future. Should my NY LLC own the Florida property? Do I form a new LLC in Florida? Or do I just buy it as a sole proprietor? Thanks. [link] [comments] |
| Posted: 18 Feb 2021 07:15 PM PST Hey folks! I need a bit of advice on a potential future second home investment. Currently own my own home, and have for a few years now. Make decent amount of money in an expensive market and have the opportunity to purchase a home that my parents currently [rent and] live in. The home is going for about 850k, but I only have about 50-70k saved up, which definitely isn't enough for a conventional loan. FHA seems out of the question because I won't be living in it and I can't afford the monthly payments on that home and my own. Any advice or stories for anyone that successfully purchased a home and didn't have the complete down payment? Additional loans are a thing, but most information online says not to take out loans for a house down payment. My parents would be paying me some rent, but I'd be hoping to be paying the majority of that conventional loan mortgage, or at least half. Any advice would be appreciated. Apologies for any missing info. [link] [comments] |
| Where to find investors/businesses looking for Open Land to contruct apts/weedfarm/etc.? Posted: 18 Feb 2021 10:41 PM PST Im just a recent college graduate, I have family with open land in central valley, I have heard that certain people are looking for open land, any one know of a subreddit or twitter or other page that has businesses looking for land for any reason? I have many ideas but need the resources [link] [comments] |
| Posted: 18 Feb 2021 04:39 PM PST Hello everyone, I purchased a duplex for $695000 in Ontario Canada in December of 2020. I immediately applied for a heloc and was approved for a max limit of $160,000. My dilemma is this. I want to build an accessory dwelling unit in the back and have been quoted $215000 to $250000 completed. Any advice where I could borrow the additional $90000. The adu would easily rent for $1800 to $2000 plus utilities. [link] [comments] |
| FixnFlip-No Enough for the Rehab Cost Posted: 18 Feb 2021 07:54 PM PST Does anybody have any recommendations for lenders that will fund for the rehab cost? We already bought the property. We have too many going on at once but would like to get this one out fast. [link] [comments] |
| Smart Door Locks on units and Garage Doors Posted: 18 Feb 2021 10:56 AM PST Hi folks, Anybody here make use of smart doors and garage doors allowing you to change a code when you rotate tenants? Pros or cons with that? [link] [comments] |
| Posted: 18 Feb 2021 07:13 PM PST Hi all. I've being looking at real estate investing for a bit. Mainly as a way to build a longer-term wealth and some "passive income". I am near 40 now with great job, decent salary, kids are getting older so I have time, energy and some money. I like fixing things, I am handy, I DIY-ed everything in my 1940th house, so besides repair required to be done by contractors by township code, I would repair it all myself. My biggest struggle is that residential real estate is stupidly overpriced on the East Coast near me (Philadelphia/NJ area). I look at price, add cost of remodel/repair and cost of the loan and its LOOSE HUNDREDS OF DOLLARS EVERY MONTH. Rents simply do not support prices... its being like that since 2014 or so. The only "cash-flowing"deals are in horrible areas (section 8 areas of Camden) and require you to basically be a slumlord. I feel like I am better off taking my money, showing them into generic growth-oriented mutial fund and enjoying my 7% return... How does anyone finds a cash-flowing deal outside of ghettos? And I mean wear life-vest, open carry gun ghettos. May be i am just too picky, as I will be perfectly fine without [link] [comments] |
| Local bank vs online for loans Posted: 18 Feb 2021 03:17 PM PST Working on a refinance and wondering what type of benefits people are seeing from local credit unions vs the Amerisaves and Guaranteed Rates, etc. Rates/fees are similar enough, actually slightly higher with the credit union for me. But I'd like to build a relationship with a local bank. Has anyone found that to be beneficial or is it unnecessary? [link] [comments] |
| High-density residential zoned property Posted: 18 Feb 2021 09:37 AM PST For context, I'm (27M) fairly new to real estate investing and work full-time in the tech sector. Last year I purchased two rental properties in eastern WA and I'm looking at the next opportunity. There's a property zoned as commercial and high-density residential, which is currently being used as an art studio. It's listed at $360k and the lot adjacent to it is $50k. Lots are 6,200 sqft and 4,000 sqft respectively. A mentor of mine suggested the possibility of buying these lots, doing the permitting for an apartment complex, creating the plans for it (no idea what this really means), and then selling the package to a developer. Essentially the value I would provide is doing all the legwork and handing it over. So yeah, I'm a total rookie and by all measures this is out of my realm of expertise. I imagine there are risks associated with actually getting the permitting and combining the lots? This seems like in an RPG where you walk into an area that you're not high enough level for lol. That said, I love learning by doing and I'm willing to make a calculated risk. I just have no idea what potential profit I'd be looking at and just how complex something like this is. Thanks for any advice. [link] [comments] |
| Trying to get into real estate Posted: 18 Feb 2021 07:41 AM PST I've never posted here before so excuse my poor etiquette. Long story short my mom is able to buy some properties with cash in the upcoming years with some old investments she's made overseas, and she's been wanting to buy some properties here in the U.S. and fix them up and rent them out to people, kind of similar to graham stephen if you guys know him. I was wondering as her son, what are some good pointers in what I would need to get started. It's going to in a year or so but I'm trying to just learn the ropes so when the time does finally come up I'm not totally lost. I'm sure it's a lot more complicated than the YouTube videos make it out to be so I'd love to hear some first hand experience or advice! Thank you very much!! Edit: I live in Seattle if that information helps at all (I'm also 21 years old I'm not sure if that's relevant) [link] [comments] |
| Posted: 18 Feb 2021 08:17 AM PST In December I took a vacation down to Anna Maria Island in FL, one of my college buddies owns a rental down there. After being there a week I thought, what the heck, why am I not doing this? So I started looking at homes. Not just in Anna Maria, but other vacation destination locations in FL as well. I do not currently own any other investment properties and this is the first time I've ever really looked at homes in the FL region. So to be fair, I have nothing to compare against, but it sure seems like there are a LOT of homes on the market. Based on the descriptions, many of these homes are currently rental properties as they come fully furnished and with "current bookings". What I am curious to know is whether or not the market really is flooded with homes right now. And if so, why so many are getting out of the rental game. It would seem logical that rental traffic was down in 2020 due to Covid, which could cause any number of reasons why people might want to cash out. But my buddies place in AMI barely dipped. So either his place is unique, or there is some other explanation. I'm curious what other people think. [link] [comments] |
| Investing in real estate on Mars Posted: 18 Feb 2021 02:38 PM PST What if in 2050 humanity finally colonised mars and now theres a civilisation on mars. How much do you think price per sqft is going to be? How much will the median house value be? Or taxes.. or insurance? Im just curious to know idk why 🤔 [link] [comments] |
| BRRRR Method and Over-leverage Question Posted: 18 Feb 2021 04:22 AM PST Hi Everyone! I'm a 21 year old college student and have been increasingly more invested in learning about real estate and building wealth. I have bought David Greene's BRRRR book and I'm thoroughly enjoying it so far. One thing I still can't wrap my mind about is the potential to over-leverage and take on too much debt. From what I've read both in the book and online it makes it seem that the risk to BRRRR is low and that continuous refinancing brings a huge upside but I haven't really seen the downsides. What if your renters stop paying rent or the market goes on a downturn and you're stuck with debt on 10+ properties that you can't pay. Especially for someone like myself who is about to enter the job market and doesn't have that much in savings for one property I can't see myself refinancing 2-3 in a year with this kind of risk. I would appreciate any advice and I apologise in advance if I haven't understood the topic fully as I said I'm in the beginning of this journey and want to learn as much as possible. [link] [comments] |
| What does it mean if an area has "very low zoning"? Posted: 18 Feb 2021 12:50 PM PST Was watching this video: https://www.youtube.com/watch?v=QClIfIWiBvw , and someone said because Austin, TX has "very low zoning," a spontaneous spike in rent prices is not possible. What does "very low zoning" mean and why would that prevent rent spikes? [link] [comments] |
| Posted: 18 Feb 2021 08:55 AM PST When you use a conventional loan, will the home have to be inspected like with a FHA loan? If so, what things might not qualify the home? I'm in Texas, if that matters [link] [comments] |
| Financing strategy, no W2 income Posted: 18 Feb 2021 08:18 AM PST Hello all! My situation is as follows. I have 5 properties, all mortgaged, all doing great! I ended up with enough income that I was able to quit my W2 job to focus and finish up my PhD. I currently have a lot of money from other investments over the years, enough to start buying properties in cash. My question is about financing. The numbers are meh if I buy property outright and keep it free and clear. Obviously, they are a lot better when I can refinance, but... lack of W2 income turns traditional mortgage companies off for obvious reasons. I have randomly heard here and there about financing properties in the name of your LLC (I have one), but I have less of an idea of how that works. How does financing to your LLC work? I know rates are higher, but would my lack of personal W2 income still mess things up? What's a good strategy here? Let's assume I buy a property and it's leased before looking to refinance. Thanks y'all! [link] [comments] |
| Underwriting Help: MF With Retail Posted: 18 Feb 2021 04:31 AM PST I am looking at an off-market multifamily complex mixed with retail. The building is 2-story in a secondary market. The upper floor has 16-apartment units (mostly 1/1) and the lower floor has 4 retail spaces. The retail spaces are all currently rented out and have survived the pandemic so far (I have been building a relationship with the owner since prior to the pandemic so I know the building). Question is, how do I underwrite this factoring in the retail units? How does one determine of there is room to raise rents on them or not? Looking for help on handling that aspect of the deal. [link] [comments] |
| Posted: 18 Feb 2021 10:04 AM PST I'm new to real estate investing but I'm very interested. I'll try to keep things to the point about a current opportunity to start. Im in my late 20's. I own my own home with about $175k equity right now. I have construction experience and a General contractor license. My potential opportunity involves a paid off home my parents own and use as a rental generating about $20k income yearly (pre expense). It's a sentimental home and they'd never sell it. Their plan would be to leave the property in their will hopefully in the distant future. I'm thinking I could offer to buy the home now at 30-40% below market value. They could use the cash to help get them to retirement and the house would remain in the family. I could rent out the house to make some money and use an equity line on the house immediately to fund another property. Are these steps doable? I don't know the ins and outs of equity loans or rental properties and I'm hoping to tentatively start here. Any advice is much appreciated. [link] [comments] |
| How much to get started flipping SFHs? Posted: 18 Feb 2021 05:33 AM PST Greetings. Assuming one was willing to relocate to a city with cheap housing (detroit for example) How much capital do you think they would need to realistically start flipping houses for a living? 50k? 100k? 200k? Let's just assume costs relating to buying, fixing and selling their first house. Not personal living expenses while jumping in the game. Also let's assume starting low and working your way up. Thanks [link] [comments] |
| Posted: 18 Feb 2021 08:08 AM PST Question and any thoughts on an inherited piece of property- Apologies in advance, I'm a noob here and would love to pick the brains of you fine folks in r/realestateinvesting. I'm sitting on quite a large sum of real estate inheritance and I'm trying to figure how to best leverage this for maximum returns. Here's a bit of info: Condo is a 3 bedroom unit in a metropolitan city. It is valued at $1.6 M currently and there is no mortgage on it. It was initially paid for out right. Maintenance Fee: $1450/mo Real Estate Tax: $400/mo currently; Tax Abatement is up in a year or two, at which point it should be ~$1100/mo. Currently have tenants and they're paying $5,600/mo. My partner and I (in our late 30s) are renting elsewhere for much cheaper. So I pocket a nice rental income every month which helps subsidize my current income which has been affected by the pandemic. I currently bring in $4K/mo gross income, which includes unemployment and is separate from my $5600/mo rental income. My partner brings in about $5800/mo gross income. We're looking to start a family in the next year. Another big thing to note, we will likely move to the LA area in the next year or two. Please no comments convincing us to not move there- we have personal reasons as to why we are planning to set roots in CA. My question is, what should I do with this asset to grow and best leverage my money in this real estate climate? I'm new and not a very sophisticated investor (though I'm willing to learn if the payoff is worth it). Do I: A) Sell to liquidate. Sit on cash that I can use to snap up a deal when the market turns to a buyer's market? I would lose my rental income, which in the city I live in, it's hard to live comfortably on my current salary. If unemployment were to dry up and I can't get a job and earn like I did during my pre-pandemic days I'd be screwed. I have savings but ideally would not want to touch that. B) Keep renting it out and hold. Continue to receive a solid rental income (remember, no mortgage but property tax and maintenance fees are relatively high). Once the tax abatement is up my margins will be smaller, but I'll still be in the green and have a steady income stream. The area I live in, while it has its highs and lows, is a place where at least in the foreseeable future will always have people coming in and out. C)Leverage the property to purchase another property? If so, how would that look? Should that be another rental property or a property that I can grow my family in? If another rental property, is there an area you all recommend looking into? As a noob, would you recommend out-of-state investing? D) Something else? Another thing to note- the current property is extremely easy and requires little oversight as there is a property management company that takes care of most things. Also, I know how incredibly blessed I am. I thank my lucky stars for having something like this and a day doesn't go by where I don't think about how this came into my life. Thanks for taking the time to read this long post! EDIT: In case it wasn't clear, I currently rent. And this inherited property with tenants is the only one I currently own. [link] [comments] |
| Posted: 18 Feb 2021 08:05 AM PST This question is triggered by what's happening in Texas and a still to be determined amount of damage in my properties. Debating whether to just pay to fix the damages or file an insurance claim. How do you decide which route to go on your properties? [link] [comments] |
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