Real Estate Investing: Are people willing to pay/rent more for a house in a bad location in a good school disctrict? |
- Are people willing to pay/rent more for a house in a bad location in a good school disctrict?
- Bloomberg: Real Estate Investors Desperate to Spend $250 Billion Hoard
- Should I sell my houses?
- What happens to taxes on rental if you die without selling it ?
- ]Landlord UK London] Supply for Rented Homes Has Reduced, Giving More Rent Control to Landlords
- Property management worth it?
- Looking for Advice on Selling a 4-unit in Chicago
- Which lenders in the PNW are doing cashout refis on rentals
- Buying a condo to live in for 1-2 years and then rent out?
- diy labor for improvements and maintenance ?
- Anybody here managed rental properties from a distance?
- Insurance claim impact
- Does refinancing a house-hack reset the "live in for 1 year" rule?
- Buying first home unemployed.
- Advice for first-time investor in real estate for vacation renting
- Rental property in another state
- Coder interested in real estate
- Can I Demo Before Foundation Repair?
- General thoughts and financing question
- 2.99% Refi Rental Property
- Investment opportunity - what do you think?
- Buying a property that I am leasing long term, what should I offer?
- Looking for Advice: Hold on to a Duplex (Potential for Triplex) in Boston or to Purchase MFH in Southern FL
| Are people willing to pay/rent more for a house in a bad location in a good school disctrict? Posted: 30 Mar 2021 06:52 PM PDT Looking at a house currently that splits streets with an awful school district and area. Not the immediate area, but progressively gets worse as you go down. But luckily the side of the street it is on is a good school district. So my thought is maybe people would pay more just for the school. But my concern is the area is so close to the (start of) bad location it may not catch the 'school district' wave Is this a pro or am I over thinking it? [link] [comments] |
| Bloomberg: Real Estate Investors Desperate to Spend $250 Billion Hoard Posted: 30 Mar 2021 07:43 AM PDT |
| Posted: 30 Mar 2021 10:32 PM PDT Here's the deal; I currently have two rental properties I bought 2 & 3 years ago. One of which has a mortgage, and one of which I'm in the midst of taking a mortgage out on it so I can invest in the stock market. The problem is, the housing market is at an all time high and I think it's going to burst this year. So I have two options.
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| What happens to taxes on rental if you die without selling it ? Posted: 30 Mar 2021 06:17 PM PDT As I understand when you sell a rental you have to pay capital gains tax and 25% tax on depreciation recapture. if you 1031 it you defer it till the new rental is sold, the cost basis will be the purchase price of the new rental ? What happens if you die before selling the rental ? does the rental pass to the heirs without estate tax or some such ? What will be the cost basis of the rental to whoever sells it eventually ? edit: cost basis get to be market value! thats great. I have scrimped all my life, like no vacations for decades etc., its good to know i can leave something for the kids. As one /u/fsmax said - wonte be much of concern for ME after i die :D [link] [comments] |
| ]Landlord UK London] Supply for Rented Homes Has Reduced, Giving More Rent Control to Landlords Posted: 31 Mar 2021 01:57 AM PDT The latest research has revealed that the South West and Wales have seen the most significant declines, with 48% fewer homes available to rent in February 2021 than the previous year. Why has there been such a reduction in the supply of rented homes? Perhaps the urban-rural divide which appeared at the start of the pandemic, only to deepen over the past months, can be accountable. There were 16% more homes available to rent in cities, while towns and countryside spots located recorded falls of 28% and 52%. Would-be tenant numbers remained flat in the countryside while dropping 10% in cities. Due to the reduction of rental homes on the property market, landlords have had more control over securing a higher rent than they had previously had. This spike is the highest since 2016, with an average increase of £60 per month. For example, 62% of landlords in the South West were able to raise their rents. However, just 37% of London landlords could secure higher rents, which is the lowest proportion in any region. According to Aneisha Beveridge, head of research at Hamptons, "tenants are now faced with significantly less choice, which in turn is pushing up rents. And with many landlords having multiple offers on the table, half of the investors have been able to increase the rent they charge." "At the same time, many renters who were looking to buy had to put their plans on ice and continue renting as banks sought larger deposits for house purchases. However, there are signs that this could change. Over the last five months, and to beat the original stamp duty deadline of the end of March, landlord purchases started to rise, which will add to stock levels when these homes complete." The best advice for property investors looking into the buy-to-rent market is to act sooner rather than later. With fewer options on the market for renters, landlords have more power to raise rents and still secure a tenant. With the stamp duty extended, you can still benefit from less tax when purchasing your properties. If you wait too soon, you risk entering the rental market with hundreds of more landlords and not benefit from higher rents. Secondly, property investors need to consider renting trends before purchasing the property. With cities being more preferable for renting than rural areas after the impact of the pandemic, property investors need to consider buying property in more popular areas. With the COVID-19 pandemic revealing too many of us our true desires concerning where and how we want to live, people's decision regarding where they rent a property is sure to last a long time. This implication could mean long-term tenants and a steady income if property investors choose the correct location. Mr Sajjad Ahmad, the British Landlords Association CEO, said: Due to taxes and a raft of legislation in the last few years that directly impacts residential landlords. Some landlords have had enough and are selling up. This is going to lead to a housing crisis. Mr Sasha Charles of Landlord Advice UK said: We have to see a wave of new instructions where landlords want to evict their tenants. Alarmingly some do not wish to relet and want to sell up. They feel the headache; the financial return is not worth the stress. [link] [comments] |
| Posted: 30 Mar 2021 10:00 PM PDT I'm looking into investing into real estate and specifically going for many units over time to generate a lot of cash flow. I obviously can't manage all the properties myself. So then I looked into property management. And wow! ~10% per unit?? Does anyone have any recommendations if:
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| Looking for Advice on Selling a 4-unit in Chicago Posted: 30 Mar 2021 02:19 PM PDT The title is pretty explanatory. I'm just wondering if there are any special considerations or things to watch out for while starting the sale process. Details:
Pros:
Cons
I'm happy to share more details, just ask in the comments. I'm wondering:
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| Which lenders in the PNW are doing cashout refis on rentals Posted: 31 Mar 2021 03:19 AM PDT My refi will cross the jumbo loan limits, a few months ago there were no cashout refis. Has that changed ? [link] [comments] |
| Buying a condo to live in for 1-2 years and then rent out? Posted: 30 Mar 2021 12:49 PM PDT Here's the situation: - I currently own a condo in San Francisco, but am going to be moving to the east coast for a professional opportunity. I am considering selling this place, but depending on the market, I might also try to rent it out. - This opportunity will result in me living in Boston for 1-2 years, and then I will be moving to an as-yet-undetermined city in the US for 5+ years thereafter. - I am considering buying a place in Boston to live in while I am located there, with the intention of renting it out after I leave in 1-2 years. I would then intend to buy a house as my primary residence in whichever city I end up in after leaving Boston. Here are my questions:
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| diy labor for improvements and maintenance ? Posted: 31 Mar 2021 02:13 AM PDT if i did some maintenance and improvements by myself, what do i charge labor for said work, when accounting for taxes ? materials are pretty clear ... [link] [comments] |
| Anybody here managed rental properties from a distance? Posted: 30 Mar 2021 02:13 PM PDT I may be moving away from my duplex in a couple months due to a job opportunity in a different state. Just wanted to hear people's experiences with managing their rental properties remote? Is it possible? Or is property manager absolutely necessary in these cases? I want to keep my costs to a minimum and I'd be willing to fly back to my property twice a year to do a check-up and/or when finding new tenants. Any good/bad stories with remote management welcome please! [link] [comments] |
| Posted: 30 Mar 2021 07:14 PM PDT Guys, I have a rental property in Texas and it had water damage ( burst pipe) due to recent winter storm. My insurance company sent me check for 37k to fix the house and another 4.5k for loss of usage. I never filed for claim before and I am little concerned about the impact of my claim. Will I be able to to get coverage from same or different carrier going forward? Will I have a problem selling the house due to the claim? [link] [comments] |
| Does refinancing a house-hack reset the "live in for 1 year" rule? Posted: 30 Mar 2021 08:04 PM PDT I'm living in one unit of a duplex and renting out the other. It was bought with a conventional loan as my primary residence, and I'm aware of (and confirmed in my loan documents) the fact that you have to live in it at least a year after you purchase the property. Does anyone know if this would reset if I refinanced? Rates are quite a bit lower now than they were a little over a year ago when I bought, and I would like to think about refinancing. But if I refinance it as my primary residence, I'm not sure if I would have to start over waiting a year again before I would be able to move out. [link] [comments] |
| Posted: 30 Mar 2021 07:30 PM PDT Title sounds bad, please read before thinking I'm an idiot. I'm trying to weigh out my options here. I want to buy a house with my partner (would be our first home). He is employed full time, I got laid off thanks to the pandemic. I'm making more money now collecting unemployment than I was at my last job teaching. This has honestly helped us build what we're planning to put in for our down payment/closing costs. I have more savings than my boyfriend, and was planning on transferring most of my funds to his account so we can file the mortgage under his name. If he will be the one getting the loan, will my employment matter? I want to look like an actual professional and not some freeloader. I'm back in college full time now and I just feel so stuck. I can't find many remote jobs that are entry level. I can't start work in my city now because we're trying to move away from where we are. We're considering moving a decent distance away from our home state because of how affordable the houses are down south. Is this a good or a bad idea? Should we even be looking now? I truly do not know what to do and I am so stressed about this. I have a couple posts on my profile describing our situation. If anyone could offer some advice please, it would be very much appreciated. Thanks in advance. [link] [comments] |
| Advice for first-time investor in real estate for vacation renting Posted: 30 Mar 2021 09:37 PM PDT Hello everyone, I am looking for some advice. I would like start investing in real estate for the purpose of renting it out on AirBnb, vrbo, or similar. I found a great house near where I live. My problem is I am currently a full-time college student and don't have money for a down payment. However, I have done the math and after mortgage, insurance, property/income taxes etc, I will be able to pay back what the mortgage would cost without a down payment and still make a large profit. Does anyone know if there is any way I could invest in this house with essentially no down payment? [link] [comments] |
| Rental property in another state Posted: 30 Mar 2021 07:41 PM PDT Hello all, what are the pros and cons of owning a rental property in another state? So I don't want I live where I currently am forever, maybe another year or so. I am prepared with everything to get my first rental property, but I don't want to be move and pay a PM to take care of a single property after I leave. However, I'm ready to invest now and start this journey but don't want to jump the gun on a property where I am at now. Any tips or advice for this situation would be greatly appreciated! [link] [comments] |
| Coder interested in real estate Posted: 30 Mar 2021 07:18 PM PDT Hey guys - I'm a coder and I feel like there's software that can make the lives of investors easier. Is there anything you would like to see in terms of tech to ease your day to day in this biz? [link] [comments] |
| Can I Demo Before Foundation Repair? Posted: 30 Mar 2021 05:47 PM PDT Got a good quote on a demo on one of my properties today. I'd like to proceed before this guy backs out but I also need foundation work done. I originally planned to have the mold remediation and foundation work done by the same company. Then demo would follow. I am now thinking mold/demo and then foundation. Am I putting anyone in danger by having the demo completed before the foundation work? Make no mistake my goal is not to cut corners/avoid safety to save an extra buck, I wouldn't ask if that was the goal. Please provide guidance [link] [comments] |
| General thoughts and financing question Posted: 30 Mar 2021 11:47 AM PDT I am new to this sub and was hoping for some insight from the group. We are doing this as a long term / retirement investment and not looking to turn it into a full-time gig. We both work regular 9-5s. We do want to use monthly cashflow to retire early / supplement other retirement savings. 2014 Owner-occupied 2-family – $190,000 @ 3.63% 20% down - Zillow - $223,000, currently owe ~$126k, Monthly Payment - $946, Rents - $2,010 2017 Owner-occupied 2-family – $180,000 @ 4.38% 20% down - Zillow - $240,000, currently owe ~136k, Monthly Payment - $1,047, Rents - $2,100 2019 Single Family Home, sick of living above tenants – $169,000 @ 3.75% 20% down - Zillow - $220,000, currently owe ~132k, Monthly Payment - $903 2020 Investment 2-family – $120,000 @ 3.5% (private loan 5 years with balloon payment) 20% down – Zillow - $199,000, currently owe ~88k, Monthly Payment - $1500, Rents - $1900 We do most of the maintenance excluding electrical/plumbing. Numbers are mortgage payment which includes taxes and rents collected not including other maintenance and insurance on the property. Utilities are paid by tenants except water/sewer is by us. Insurance last year including all houses and car was $4,500 and we pay in full once a year. With the most current house we will have it paid off in 5 years. Our plan is to "roll" the $1,500 payment into the 2017 house @ 4.38%. Once that is paid off, we would "roll" that payment into the next house and so on. Our plan is to have everything paid off as soon as possible to increase cashflow. Future investments We would like 1 more multi-family if the right deal came along. Do not plan on buying into the crazy market right now. We have talked about purchasing a vacation home within 2 hours of our home that we would Airbnb when we do not use it. Popular for skiing in winter and hiking/mountain biking in summer. We both work regular 9-5 and have young kids in sports so a lot of weekends we would not be able to go. This is longer term looking at ~5 years from now. Convert the attic of the house 2 into a 1-bedroom apartment creating a 3-family. Lots of similar houses in the city are setup this way. In addition to the work to build the apartment work for this would include replacing the roof as this is very old and we do not want to add sheetrock to the attic until a new roof is installed, adding a separate utility meter for this floor, adding staircase on the outside of house for 2nd egress. I am not sure what the best way to finance this project would be. I would want to include the roof as part of the financing since it is large and would probably cost ~$20k. We are interested in doing this sooner, but construction material is crazy right now so want to see if that levels out some. Would rent a 1-bedroom apartment for $950. Any thoughts on best way to finance the additional apartment for House 2? Any general thoughts about our way of thinking and portfolio? [link] [comments] |
| Posted: 30 Mar 2021 08:57 AM PDT It has taken me since December, but I finally closed a 2.99% Refi on a rental property in Chicago, through Guaranteed Rate. It was a rocky relationship all the way through, but I'm super pumped about the rate. I paid 1pt. but still couldn't believe it when they quoted me the rate and I'm now taking a sigh of relief after signing all the closing documents yesterday. All the effort and struggle was worth it. I've refinanced both rentals that I own in the last 5 months, and now I'm well positioned to find another! Just wanted to share incase anyone else was looking for a good rate and willing to put up with a pretty insane underwriting process. [link] [comments] |
| Investment opportunity - what do you think? Posted: 30 Mar 2021 01:48 PM PDT Brand new SFH sells for $185.000 rents for $1600 30% down 30 yr mortgage at 4.625% monthly payment (PITI and HOA) $1056 Variable expenses (Vacancy 5% , Maintenance 5%, Capex 5%, Mgmt fees 10%) $400 (I'm managing it and since it is new, I'll just build a fund with this money) cashflow $144 plus the $400 that go into the fund I have the option to get a 40 yr loan with the first 10 yrs interest only at 4.875% fixed for 40 years my monthly payment for the first 10 yrs will be $921.81 (ITI and HOA) Same variable expenses $400 Cashflow $278.19 plus the $400 that will go into the fund. I might hold it for a minimum of 5 yrs. What do y'all think? [link] [comments] |
| Buying a property that I am leasing long term, what should I offer? Posted: 30 Mar 2021 04:32 PM PDT I have a property that is leased for the next 60 years on an 85 year lease. We built a commercial building 20 years ago and it's now worth somewhere north of 20 million today. The monthly payments on the land are only $6,800/mo. I'd like to approach the land owner and buy the property but have no idea what would be a fair offer. They can't use it for another 60 years and they, or their kids/grand kids, would have to wait 60 years before the lease expires. Where do I start here? I'd like to make sure that my grandkids won't have to worry about losing the property when the lease expires. [link] [comments] |
| Posted: 30 Mar 2021 04:16 PM PDT Like the title says but for pertinent details: parents own cash flowing two-unit home in Boston. As they are nearing retiring age, want to move to FL for obvious reasons... We are considering capitalizing on a 1031 exchange on a duplex or triplex down in FL where they can manage the property from closer proximity as well as possibly live in the unit themselves. Their apartment in Boston has two units with very real potential for a third. Need to look into permitting and parking expansion in order to get zoning for the third unit. We are at a crossroads. The unit puts cash in their account. But property taxes, estate taxes, and the weather are more beneficial in Florida. Does it make sense to sell in Boston, and try to do the same thing down South? Pros/Cons to living in the unit? Pros/cons to holding on to a rental when not living in the region? Open to any and all insight. Appreciate your help! [link] [comments] |
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