Real Estate Investing: What would you do? |
- What would you do?
- Anyway I could make any money off of this?
- How much do I need to retire and make 100k a year ?
- Rental property to break even
- Tenant has 50lb dog as ESA. what are you thoughts on renting your property?
- Renting My Duplex...NEED ADVICE
- Moving from NJ to MD. Should I invest in a NJ multifamily?
- Investing in Miami
- Listed price
- Hit a snag with flood insurance on a refi. Condo HOA doesn't carry it.
- Impact of Minimum Wage Increases?
- Ski town investment
- Fort Worth, TX & surrounding areas Investment Properties...
- Steps to building a multi-unit property?
- Question on mortgage/equity
- Open septic nearby
- Property Auctions
- 200%+ more wealth when including real estate in your portfolio than just 12% stock market? Is this right?
- Would REITs and apps like Fundrise be a good way to get into Real Estate?
- Foreclosure Purchase
- Anyone here a wholesaler? What's it like?
- VA Streamline Refinance Loan Recommendation
| Posted: 05 Feb 2021 05:31 PM PST I have a tenant in my property. I've owned this house for 8 years. In those years I've usually charged a competitive rent for the area it is in. At the moment, I have a tenant who pays about $300-400 below market value. She's been there for over a year. Always pays on time, whenever I have to do maintenance, the house is very well taken care of; the best it's ever been with renters. She is very patient when waiting for fixes (it's a 200 year old house). The cash flow breaks even, (expenses for the property equal rent). Would you keep the tenant, or raise rent, knowing it will probably drive her out? [link] [comments] |
| Anyway I could make any money off of this? Posted: 05 Feb 2021 04:27 PM PST Hello All, Currently, I have available to purchase about 40 acres of land in a high population area. The only thing is that it is an interstate right of way. I could purchase this land for around 4,000 dollars. Is there any way to make money off of this? Like selling it to neighboring parcels to increase the value of their land or anything? I looked into billboards but it seems that would not work. The land is marked as worthless. Thanks. [link] [comments] |
| How much do I need to retire and make 100k a year ? Posted: 05 Feb 2021 04:06 AM PST My cash on cash is around 15%, I am also building my portfolio by flipping houses with a profit per house of 30-100k. I want to retire but I don't know if I should trust a property manager to keep doing things the way I do. I'm used to doing things by myself. I don't know what to do at this point. I'm attracted to bigger deals that make more money ljke mobile homes but since I also wanna retire I am thinking about NNN properties.. Correct my math but if I buy properties for around 100k, 20% down and some renovation, a house costs me around 35k. I use the 1% rule and after 40% expenses I get home with around 4500 a year. If my goal is 100k I would need 22 houses. I would like to know if it would be faster to flip (faster profit as I don't rent it out but less time to gain appreciacion) or rent longterm and keep refinancing. Let me know how wrong I am (lol) or foolish. Thanks [link] [comments] |
| Posted: 05 Feb 2021 08:32 PM PST I don't see how even breaking even is bad in the long run. Let's say you buy a home with a downpayment of 10% and you receive rental income monthly. The rent is enough to cover the mortgage and any expenses/repairs. Zero cash flow. Some might say you could have put that down payment into the stock market for a 7-8% return. But after 15-30 years of no cash flow, you have a home free and clear and you can sell it for a much higher return on investment. Why is a property with no cash flow still considered a deal breaker? [link] [comments] |
| Tenant has 50lb dog as ESA. what are you thoughts on renting your property? Posted: 05 Feb 2021 11:37 AM PST Hi, this is my 2nd property, and I am screening prospective tenants. I had said small pets welcomed. However, this person has an 50 lbs dog which they are calling as Emotional Support Animals. What should I ask for? Im sure you guys have received applicants with such clauses or claims. I am afraid they will tear up the place and make the whole place a stinking mess. What are your thoughts? How have your dealt this? [link] [comments] |
| Renting My Duplex...NEED ADVICE Posted: 05 Feb 2021 09:44 AM PST Hey everyone, I have been house hacking for the past year where I live on one side of my duplex and rent out the other side. I plan to move out at the end of this month and rent out both sides. I am in the process of finding renters and someone reached out to me asking if they can sign a lease with me and start using my duplex as an AIRBNB. At first, I thought NO WAY that I'd want my place used as an Airbnb but then the more I thought about it, the more I thought that this might not be a bad idea. They want to rent out both sides of the duplex at the price that I want. The lady that manages Airbnb will be on the contract and I will get my rent money each month from her. She even says that she will have the place cleaned between each stay (and guarantees to rent them out at a minimum 3 nights at a time to avoid people who rent Airbnb for parties). Am I missing something? Does this sound like an okay setup, or am I better off trying to find normal tenants (small family, or group of students since I am by a university). Thanks for all of your advice! EDIT: No HOA fees. [link] [comments] |
| Moving from NJ to MD. Should I invest in a NJ multifamily? Posted: 05 Feb 2021 02:46 PM PST I am turning 24 soon and I have been thinking about investing in my first multifamily home. In a couple months, I will moving to from New Jersey to Maryland for a federal government job that is offering a 100K salary. The job stability that federal employment gives me has only made me more interested in real estate investing. My net-worth is about $110K with $35K in cash. I know that for a down-payment I will need more, but my father is willing to put money down too since he is looking to downsize. My rational is that I find a duplex/triplex in NJ where my dad stays in one unit and the other unit(s) pay most of the mortgage. My living situation in Maryland would be to rent until I understand the area better and feel assimilated with work. My interest in NJ is that I know the area very well since I have lived here all my life. Also, I see many more listings for two families in NJ than I do in MD. I don't know if it smarter for me to just move to MD, rent for a year and look for an opportunity to buy there or invest with my dad in NJ. Any advice is greatly appreciated! [link] [comments] |
| Posted: 06 Feb 2021 02:22 AM PST I am thinking of investing in a single family home In Miami. I can get a secondary home mortgage for super low rate (it'll be my first home tho) and I have a person of trust to manage it for me there (not free). With property price at low 300ks and the expected rent and mortgage/other expenses puts me at a positive cash flow albeit low (2%ish). I'm concerned with the future of owning a house in Miami which is expected to be underwater in X years from now due to global warming and rising sea levels (no one is sure about X). I have friends who invested there,use same property manager and are happy with their investments. I realize every area has its own risks but this is quite a catastrophic one. I'd like to hear opinions on the matter and from other Florida investors. Thanks [link] [comments] |
| Posted: 05 Feb 2021 11:14 PM PST When a property is listed for a certain price, is it the price for the condition it's in or is it the ARV? When making an offer, how much lower than the asking price do you normally go? [link] [comments] |
| Hit a snag with flood insurance on a refi. Condo HOA doesn't carry it. Posted: 05 Feb 2021 03:39 PM PST I got a quote for $2,500 a year for $250,000 in coverage which makes it pointless to do the refinance. It looks like my area was recently zoned as a flood plain but it had terrible flooding a few years ago and didn't come close to my property. I'm getting another quote but not sure what to do. Am I boned? [link] [comments] |
| Impact of Minimum Wage Increases? Posted: 05 Feb 2021 02:02 PM PST There have been a number of debates about whether we are or are not in a housing bubble and whether prices will drop if/when interest rates rise. One reason I don't think we'll see a drop in housing prices or rents is what seems like broad support for increasing the minimum wage, plus increasing direct payments to households that meet certain conditions (like a credit for childcare). In my area, the minimum wage is going to $15.00 per hour over the next couple years, at which time 2 minimum wage earners will be making enough to support a rent payment of $1500 per month, and realistically could go higher based on historical rent/income ratios in my area. If that's the case, why shouldn't I continue to buy houses at around $300,000 that rent for $1800 - $2000 per month right now, knowing that literally any 2 employed people will be able to pay that much in a couple years, and my carrying costs are fixed below that amount? tldr: It seems like rents will be going up and households will be able to service existing mortgage debt payments due to minimum wage increases and direct subsidies for households over the next couple years. Why not buy in anticipation of that, even if the market doesn't support the "1% rule" or other rules of thumb that have been used in the past? [link] [comments] |
| Posted: 05 Feb 2021 08:16 PM PST My family is looking into purchasing a town house, duplex, or house which will serve as the primary living residence for 5 years and then turn into a second home. In terms of return on investment would you recommend purchasing in Tahoe or Mammoth? Which area has housing stock that could be a fixer upper potential? Where is the most value to be had? Any advice would be greatly appreciated. [link] [comments] |
| Fort Worth, TX & surrounding areas Investment Properties... Posted: 05 Feb 2021 10:30 AM PST Hey all! I'm trying to expand my network! I put out a single daily roll up of my available off market properties free to anyone that wants to receive it. Mainly focus on DFW's westside :) Looking into connecting with DFW Investors and provide any service that I can to help connect you to your next investment property! Anyways, please let me know if you're interested and I'll share my current inventory! [link] [comments] |
| Steps to building a multi-unit property? Posted: 05 Feb 2021 01:08 PM PST I need some help from some investors who may have had experience with building a multi-unit apartment. My siblings and I have recently acquired some land from my parents in Washington DC. They are literally selling it to us for an administrative fee a lot less than the 500k they've been offered. We have goals of building a multi unit apartment/ property on this land. It is in an upcoming part of DC and the 3 of us will be forming an LLC to own and make decisions for our new real estate business. I would like to know 1) if there are any resources you could recommend as a guide for getting this process started and 2) any pitfalls you'd recommend us to stay away from as we work through this for our family business. All advice feedback and questions for more details welcomed. Thanks [link] [comments] |
| Posted: 05 Feb 2021 03:09 PM PST Hello I was wondering what amount of the mortgage you pay monthly actually goes into building your equity on the home? For example: Bought home worth: $285,000 Loan: $229,500 Principal & Interest: $966.34 Escrow (Taxes & Insurance): $195.85 Monthly Payment Amount: $1,162.19 It is a 30 year loan. If I divide the loan amount by the principal + interest divided by 12, I get only 20 years ? [link] [comments] |
| Posted: 05 Feb 2021 02:48 PM PST I'm looking at a somewhat secluded property with beautiful terrain and views but the downside is an open-air septic tank with an effluent ditch, owned and managed by the county, approximately 100 yards away on an adjacent property. Are there any known issues specifically to do with air-quality and/or property value bc of a commercial septic system that serves a multi-residential unit property? [link] [comments] |
| Posted: 05 Feb 2021 04:44 AM PST I'm looking to buy a new income property that I can buy via auction in the States. What are some auction websites to buy houses that need to be fixed that sell for a cheaper/reasonable prices? I know of auction.com and hubzu but I'm wondering if anyone has had better luck with others. Thanks! [link] [comments] |
| Posted: 05 Feb 2021 01:51 PM PST I'm not new to real estate investing. And I am not now to spreadsheets. But I have never used spreadsheets to compare real estate returns with those of the stock market over the longer term (here I went with 30 years). If I could post a photo, I would show the excel sheet and my numbers, but I don't know how to get those to you. My analysis went something like this though. On the stock side, I "invested" the amount of equity I had in the real estate into the stock market. Assuming a 12% rate of rerun. On the real estate side, I took the rent received minus actual mortgage, taxes and insurance (1.5% of property value), and maintenance (2.5% of prop value) to get my positive cash flow. Then I "invested" the positive cash flow into the same 12% stock market. When looking at the cash flow plus 12% return by itself, it beats the plain 12% stock market. But when you add back in the property value, owned free and clear at the end of the mortgage (especially assuming a 5% appreciation in value), the difference is staggering. On the three investment properties I owned my numbers show me having 181%, 205%, and 237% more money doing real estate investing, plus stock market than just the stock market alone. Anybody able to confirm this with similar findings? Or maybe some advice on what I did wrong in my analysis? [link] [comments] |
| Would REITs and apps like Fundrise be a good way to get into Real Estate? Posted: 05 Feb 2021 05:35 AM PST Hi all, first post here. I've been heavily invested in the stock market in a number of ways (index funds, 401K, ETFs, etc) for awhile now and try to send every dollar that way that I can. However, I'd like to keep growing my assets column and possibly start looking at higher returns. I don't have a family yet, so I see right now as an opportunity to start building up an asset flow that could one day support one without having to completely rely on the rat race. My ideas right now to do this are to get into individual stocks and/or get into real estate investing in some way, shape or form. I don't yet own a house, but I do have pretty decent assets for my age and could buy one if I wanted to. However, I have a full time job and don't want to spend the rest of my time flipping houses. Are REITs and apps like Fundrise worth getting into and would they possibly help me start making some money off of real estate? I'm wondering if these are basically just like index funds, or something worth looking into. Any other ideas or advice is greatly appreciated! [link] [comments] |
| Posted: 05 Feb 2021 09:35 AM PST Let me start by saying thanks for any advice. This would be my first purchase, I began to buy last year but because of some career issues walked away from the deal. Now I am in a new market where I will be at for the next several years. I plan on buying and holding the property because I would like to rent the property after I leave. The market here is slim. However, recently a house went on the market for way more than it is worth, judging off of comps and the potential work it will need. The House The house is about 1660 sq ft, 3 bedroom 2 bath, and needs some renovations, holes repaired, new paint, doors replaced, and all around basic work. The back yard is nice with plenty of space, which is unlike the neighborhood. The garage is a two car function garage in the sense that it has not been converted to an extra room like many other properties. Due Diligence The realtor mentioned that house was being sold by the bank. I of course looked up to see what the original loan was and that later was confirmed by the realtor at 248.5k. The house was sold back in 2014 and is being listed today at 325k. Taxes were current on the home. I assumed a 4% on the loan with 0% down and over those 5 years (assuming a year was unpaid) would have netted 71k. If subtracted from the original loan of 248.5k it would be around 177k left on the loan which lead to my conclusion of a 200k offer. Knowing the bank would not have to replace the roof or AC which I could do within the year of owning the property. Questions This is the part where I am looking to learn, did I over simplify something in the process? Is there something else I should consider? If I can purchase the property at that price; who/how do I get that offer to the bank? [link] [comments] |
| Anyone here a wholesaler? What's it like? Posted: 05 Feb 2021 09:00 AM PST I've seen some recent videos on wholesaling and there's a lot of hype about how you can make $10-20k on deals just sitting in front of your laptop. What is the reality of wholesaling like? Is it difficult to start? Is it saturated? What does it take to be successful? I'm thinking it might be interesting to get into wholesaling to bootstrap some cash for longer-term investment. [link] [comments] |
| VA Streamline Refinance Loan Recommendation Posted: 05 Feb 2021 08:42 AM PST Hello, I'm looking for recommendations from anyone who has personally used a VA Streamline Refinance Loan and the company they used to complete that loan. Please do not recommend companies that you work for. I have had a terrible experience with Wells Fargo so far with their lack of timely response and lack of flexibility with regard to communication. This is a streamline version of the loan because I do not have any intent on occupying the property as it is in a State that I do not reside in. [link] [comments] |
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