Real Estate Investing: Any regrets on doing an ADU (Accessory Dwelling Unit)? |
- Any regrets on doing an ADU (Accessory Dwelling Unit)?
- Buying a home to live until renting out. Good idea or not so much?
- Where have you found your best flips?
- I am twenty-three yrs old and working at a FAANG company. I saved 90k so far and I am looking to invest into real estate
- Questions About Investing In Multi-Family In Rural Town
- Would you invest in floating homes? Not houseboats.
- what are the ramifications if landlord needs to break the lease ?
- Are construction loans any different than mortgage loan? What about land loan? How do people go about having second property from scratch?
- Does anyone invest in or run a flip fund?
- Not sure where to start with this question
- Great potential in 2021! Hemostemix ��������
- Where would you move to in the US for rental property investing?
- Help Evaluating Real Estate Deal
- Settling or appliance uneven
- Best resources to learn more about RE Investing. Also where to gain knowledge about Fixer Upper Flips
- Is this a dumb plan?
- Does anyone have a property analysis spreadsheet they could share?
- ELI5: How do you choose remote rental property?
- Question: Escalation clause with no real estate agent with an estate
- Taxes deduction
- How long Before closing do you receive a clear to close?
- State of commercial RE?
- Is this worth looking into?
- Sorry if wrong sub, I need advice though about selling.
- Highest and Best Offer - Any tips to stand out? (NJ)
| Any regrets on doing an ADU (Accessory Dwelling Unit)? Posted: 27 Mar 2021 10:59 AM PDT I'm entertaining the idea in a HCOL city (San Diego) where buying a new home is far out of reach and an ADU may be more feasible - resulting in 2 smallish homes (~1000sqft) on 1 lot. Any concerns I should be aware of? What would you have done differently? [link] [comments] | ||
| Buying a home to live until renting out. Good idea or not so much? Posted: 27 Mar 2021 08:46 PM PDT Real estate inventing has always been on my mind but I am still a novice but a situation has came up that's leaving me thinking. This is going to be a little strangely worded but I'd like some ideas and opinions on my current situation. I am planning on moving with a few friends into a larger home in my city. Average rent is roughly $1,700-$2,300 a mo. in some places that they're looking. When factoring in gas, water, internet, etc. it's adding a good $400 to those metrics. I frankly think this is insane. So me trying to think critically, rather then rent why not just buy the house, split the payments between those living and when the time comes that we're all moving on with our respective lives in a rough 2-6 years, I'd cover the remaining cost, refinance and in turn rent out the house. Average mortgage on the homes in this area we are looking are generally between $1,300-1,800 and appreciation is around 8%. With adding home insurance and usual amenities it's still cheaper/equal to flat renting. In the latter scenario it's be building equity rather than getting nothing out. I'd dive deeper into the data I have but in short this seems wildly better than renting. But I'd love to get a second opinion. [link] [comments] | ||
| Where have you found your best flips? Posted: 27 Mar 2021 09:34 PM PDT Wondering where successful flippers acquire their best deals. I'll be buying my first flip in the next 90 days and I'm going into paralysis by analysis. All my potential deals are from MLS and I trust my numbers. I just feel like I'm missing something. Should I start off with direct mail? Or identifying and building a good relationship with a wholesaler? Driving for deals? Just looking for some input on where everyone has had success getting started. Thanks! [link] [comments] | ||
| Posted: 27 Mar 2021 03:21 AM PDT I am usually situated in Dublin, Ireland but also open to invest in other EU markets: Netherlands, Germany, etc. I really want to create an investment strategy for myself where I try to invest into multiple residential properties over the next 10-15 yrs. I want to inform myself more about this topic by learning how to eg. request multiple mortgages, what market indicators can I best look at when investing, etc. Can someone help me with how I can best inform myself to start creating this investment strategy. Are there certain resources I can look at, are there people I should network with? How do I get the ball rolling? [link] [comments] | ||
| Questions About Investing In Multi-Family In Rural Town Posted: 27 Mar 2021 07:23 PM PDT Hello, I have come across an interesting real estate investment opportunity that I'm thinking about entertaining - it is a number of duplexes (less than 15) all on the same street in a small town in Georgia. Currently each of the units are renting at $350 / month, but with a full renovation (a couple of the units have already been renovated), they generate $550 / month. After calculating the NPV with, or without the updates, the return is excellent. Here are some details about the town: - median household income = 27k / year - median property value = 85k - population around 9000 - approximately 1.5 hours away from Atlanta I currently have a couple of rentals generating between the $2000 - $3000 / month and I have had excellent luck finding quality tenants (by performing credit & background checks along with salary verification), great contractors, and self-managing each of my properties (and one is half way across the country). Does anyone have any thoughts or comments on what it would like to own and manage a block of duplexes on a street in a lower income town? What type of tenants do these types of properties attract in terms of credit / background checks? Do they generally keep things in good shape, or are there maintenance requests at all hours of the night? Thanks in advance! [link] [comments] | ||
| Would you invest in floating homes? Not houseboats. Posted: 27 Mar 2021 10:23 PM PDT | ||
| what are the ramifications if landlord needs to break the lease ? Posted: 28 Mar 2021 01:44 AM PDT either to move in themselves or to sell the house ? what needs to be done to make this legal. they moved in only recently. [link] [comments] | ||
| Posted: 27 Mar 2021 06:48 PM PDT Hi guys! I'm trying to see my options here for my second property. Is construction loan any different than any other loan? How does this work? Do we have to buy land first then start on the loan construction application? Or is there any construction loan that is combined with land loan? I have no knowledge about this, so I'm sorry if my questions sounded too obvious! Thanks! [link] [comments] | ||
| Does anyone invest in or run a flip fund? Posted: 27 Mar 2021 09:49 AM PDT I've flipped a decent amount of homes. My market remains strong but I have plenty of units to keep me busy. Part of my goal was to build enough cash to fund my own flips. I think I am finally there. But I'm tired. I'm feeling lazy. In the past I paid decent money to hard money lenders to finance short term flips. Now I'm thinking it is way less work to just be the hard money. I've had access to friends and family money along the way. Now that I'm not using them they kinda want to find a way to keep that mostly passive income rolling in. I know several flippers who have decent deal flow and need more money. How many of you would risk grandma's money on other people's deals? Do I pool their money and offer a fixed rate of return and make money on the margin? Do I offer deal by deal and take a fee as a broker? How intense of legal trouble am I getting into? [link] [comments] | ||
| Not sure where to start with this question Posted: 27 Mar 2021 08:45 PM PDT So me and a friend both run businesses and will be starting into the real estate investing soon. Would it be possible for 2 separate business owners to buy a house with a mortgage or does one of us have to be a w2 employee? I have been listening to a lot of biggerpockets podcasts and a few other real estate podcasts but I have yet to hear a situation like this so i just want to make sure. Thanks in advance, I know it's probably a dumb question. [link] [comments] | ||
| Great potential in 2021! Hemostemix �������� Posted: 28 Mar 2021 12:22 AM PDT
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| Where would you move to in the US for rental property investing? Posted: 27 Mar 2021 11:13 AM PDT Hey guys, this is my first post here; thank you to anyone willing to share their input with a newbie investor. I am a Canadian looking to move to the US for work and start investing in rental properties. My goal is to buy properties that appreciate well and cash flow at least $100/door on year 1. I can live anywhere as I work remotely but I am getting a bit overwhelmed with all the data (can be found below) I need to consider in picking a location. Assuming you are in my shoes and have $20k USD to invest (i.e. 5% down as I will be house hacking my first few properties), where would you move to? ----------------------------------- ((OPTIONAL READ)) ADDITIONAL INFO So far in my analysis, I am collecting the following data: - Net migration (at the state level) over the past 10 years & 1 year - Median sale price (redfin) - Value appreciation over the past 5 years and 1 year (redfin) - Average rent (rentcafe) - Rent to price ratio - Income tax - Job growth and industry trends (haven't found a good source to gather data yet - just reading high-level articles for now) - Average rent growth (if someone has a good source for this please share as I haven't found one yet) - Cost of living index (numbeo) - Quality of life index (though investing is my main priority now, I am still looking at quality of life a bit) [link] [comments] | ||
| Help Evaluating Real Estate Deal Posted: 27 Mar 2021 05:28 PM PDT I'm looking at purchasing a $300k property as a real estate investment and would like some help from the forum in evaluating the deal (really just want to make sure I'm taking everything into account). The property would be a 3 bed, 2 bath house renting as a SFH. The property is new (built within the last year). From my calculations, the mortgage would be $1629/mo. (assuming 20% down and a 3% interest rate). Mortgage includes P&I, property taxes, and homeowners insurance. Similar properties in the area are renting for $1800/mo, leaving me with a cash flow of ~$171/mo (~2000/yr). This is obviously before factoring in anything such as repairs, vacancies, etc. Depreciation would be a nice ~$10k per year on the property, but due to my income >$200k, I wouldn't be able to write off any costs on my W2 income from real estate losses. To me: this doesn't seem like enough cash flow to warrant purchasing the property. $2000/yr on an original investment of $60k is ~3% yearly ROI, which doesn't feel very high. In addition, that $2000/yr can quickly turn negative due to repairs or vacancies, but I'm not sure if I'm missing anything in regards to my evaluation. It also feels like the property fails the 1% rule since it doesn't rent for $3000/mo or more, so I'm not sure it is a good deal. Or maybe I'm just too pessimistic about $171 a month. What are the forum's thoughts? [link] [comments] | ||
| Posted: 27 Mar 2021 01:32 PM PDT Hey all, looking to purchase my first house. It checks all the boxes, but there is this fridge that's leaning really bad. Does this look like a setting issue or just something with the fridge [link] [comments] | ||
| Posted: 27 Mar 2021 10:52 PM PDT So I'm pretty new to this sub and new to RE investing in general. 26 years old still figuring out my career path but have been saving money. Would love to know the best resources to study up on to learn more about RE investing before I jump into it. Specifically would like to look into doing Fixer Upper single family homes. What would you guys recommend? Also is it possible to find mentors and where would one trying to find a mentor. If I become successful at it I wouldn't mind doing it full time in addition to a full time job. [link] [comments] | ||
| Posted: 27 Mar 2021 04:50 PM PDT I am 25m, single, and make about $40,000/year right now. I live with my parents currently and want to invest a rental property in the next 1-1.5 years. My plan is to save $10,000 for a down payment in a 60-80k home with rental space, and finance it. I would then rent it out, and around $1600-$2200/month would go into the mortgage of the house. Before doing this, I would make sure to have an emergency fund set in place to save me if there is a economic crash or war etc. I work in AV so the work is pretty consistent and my salary is set to increase to around $50-60k in the next year or two. I am single and my expenses are low... Right now I only spend about $1400/month and pay for all of my expenses myself, and if/when I move out I typically rent a room or split rent with a friend. So I am self sustainable right now... The only issue I have is that I don't have a substantial credit history or impressive years of pay stubs to show the bank. My credit score however is high (over 700) and I have paid all of my credits and loans early/and in full throughout my life. I just have $8k in student loans which I am very ahead on. What would be my hurdles/challenges and, is this plan worthwhile, in your opinion? [link] [comments] | ||
| Does anyone have a property analysis spreadsheet they could share? Posted: 27 Mar 2021 04:30 PM PDT I'm looking to purchase an investment property, and rather than reinvent the wheel, I am wondering whether anyone has a property analysis spreadsheet they would not mind sharing. Thanks in advance! [link] [comments] | ||
| ELI5: How do you choose remote rental property? Posted: 27 Mar 2021 02:21 PM PDT I've been landlording for over five years, but only with property I can see and touch. Now that my area has no inventory, I'm wondering how I can branch out. I know my properties are in a good location because I'm familiar with the area, but I also know they wouldn't be such a good deal even a street or two over, so if you're buying remotely how do you know the property is well-situated? Do you only buy properties which are already rented and have a track history of good cash flow? Are there PM companies who will recommend purchases with the understanding they'll manage them? Is it the risk/return of owning specific remote property better than a REIT? Tell me your remote rental purchasing secrets! [link] [comments] | ||
| Question: Escalation clause with no real estate agent with an estate Posted: 27 Mar 2021 11:23 AM PDT I'm buying from an estate and the executor (an attorney) ORIGINALLY told me that i was going to be able to purchase the house at $400,000 (he was happy to have a direct deal with no real estate agent). Then the executor tells me that the person he had appraise the house knew someone who had a buyer with a real estate agent and they offered $500,000. The sellers appraisal says its worth $650,000 (it's not) I'm prepared to pay up to $650,000 in this hypothetical example. The seller suggested I submit an offer with an escalation clause. The issue i have is there is no way for me to know what the other offer is because he has no obligation to show me the other offer since it not a formal bid process nor do i have a real estate agent but the other buyer does. Does anyone have any idea i can get him to share what the other bid is as part of the escalation clause process? My Escalation Clause Bidding Concept (open to suggestions):
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| Posted: 27 Mar 2021 07:30 PM PDT Hi everyone, newbie looking for tips on Taxes deduction on expenses for rental property. Do I need receipts to count every rental property expense? What if I use cash for some of the expense or my family's credit cards to buy goods then venom them back as their credit cards get more reward points than mine? JFYI, I'm trying to get myself better reward points credit cards 😂 currently have total 4 credit cards among two banks! [link] [comments] | ||
| How long Before closing do you receive a clear to close? Posted: 27 Mar 2021 01:27 PM PDT I'm looking to close on a property within the next couple of weeks. So far everything has already been submitted to the underwriter and the only thing that I am waiting for is the appraisal results to come back this weekend or Monday. Typically how long before closing do you receive a clear to close? [link] [comments] | ||
| Posted: 27 Mar 2021 09:09 AM PDT How do you think the commercial real estate market is? Most of the conversations here are about SF and multifamily. I'm curious how pandemic has impacted commercial property prices and demand Thanks [link] [comments] | ||
| Posted: 27 Mar 2021 09:00 AM PDT 23, live at home in the suburbs of Chicago. Never have been involved in real estate but want to be! There's a house at the end of my street that's listed as a pre-foreclosure, note on the door saying the locks have been changed. Nobody has lived there for quite a while and it looks completely out of date, it went up for sale in 2019 for a very short amount of time for 289K, but now it's "estimated" on Zillow and Realtor.com at 352K. A house of the same model a few doors down was completely renovated and sold for 400K. Is this worth looking into? Any advice for a newbie would be greatly appreciated! [link] [comments] | ||
| Sorry if wrong sub, I need advice though about selling. Posted: 27 Mar 2021 05:20 PM PDT So we are listing our house Monday, and I've been trying to gather as much information as I can about our situation as possible before pulling the trigger. My credit is atrocious right now, I have about 20k in credit debt outside the mortgage. I bought our home when the market was low, for about $110,000 and now plan on selling for around $200+ Here's my plan. Tell me if this sounds like a risk or not. I want to sell, clear my name of debts and rebuild my credit. I don't want to jump back into the market as I doubt lenders will jump on me at the moment, and there is a frenzy of buyers right now and people paying top dollar for whatever a lenders will allow them. People are overpaying for homes. It took me 5 years just to build $10k in equity, so I'm thinking if I just sit on the money for a couple years, keep working, and just rent out a place and keep trying to add to it, i guess this is where the risk comes in, the market might come down and I can find a more permanent living situation for the wife and I, as we never saw ourselves living here forever in the first place. My father in law thinks it's always a bad idea to jump out of the housing market as you are losing out on investment and going backwards if you jump out of the game. He says that interest rates are so low that it's a good time to finance, however I don't know what the math on this is since the price of homes has nearly doubled since I bought mine. It would take me forever to get out of debt and I guess to some extent I'm having a fear of missing out mentality if I don't sell now. Also the funds would allow us to obtain some medical research as our wife and I haven't been able to have kids. And hopefully some day the market will come down and I will be able to put a sizable chunk of a down payment on a more permanent living situation in the future. I suppose these would be my end goals for selling right now, but I'm worried about the math and time involved. The amount of equity I'd miss out on, the amount of rent I'd be paying until I finally knuckle up and buy in again. I would really appreciate some advice here. [link] [comments] | ||
| Highest and Best Offer - Any tips to stand out? (NJ) Posted: 27 Mar 2021 08:06 AM PDT Hi Real Estate gurus, the house we want is having a "Highest and Best" submission day on Monday. It's a fixer upper duplex in New Jersey with solid potential. So far, the only issue we know of is the structural issues in the foundation which we are willing to tackle. Here is what our current offer looks like: Asking- $325k / Our Offer- $345k with 25% down, 30 day closing, "As Is" unless one item exceeds $7500. I'm confident with ~$25k of reno, each unit can rent for $2000/unit. Any tips to make our offer stand out the most? Should we do a true As Is? We really love the property. Thank you all. [link] [comments] |
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