Real Estate Investing: First Real Estate Investment Strategy? |
- First Real Estate Investment Strategy?
- Turning rental properties into an LLC
- (Inheriting tenants, first meeting) Should I show up with leases for different scenarios or just figure out their plan and then come back later with a lease based upon negotiations?
- First Real Estate Investing - Fourplex Foreclosure
- New build triplex/quadplex?
- GST Simplifier For Home Buyer
- Moved back in to rental but want to upgrade and rent out different property
- Any cash buyers or SubTo buyers in Las Vegas? I got deals
- Buy out right or lower amount spread onto more homes?
- Total Newbie Looking for Advice
- Extra payment towards principle
- How much to put down on an investment property?
- Owner Occupied
- Self Directed IRA
- BRRRR Calculator Recommendations?
- First Rental Property
- Not Like kind exchange?
- 3 apartments and 3 retail spaces what type of loan should I be looking for?
- Experiences Lending to a Builder/Developer
- Tax defaulted , Deed , foreclosures , sheriff’s, trustee sale, tax auctions
- How do you determine if a rental on the market is a good investment or not?
- Young investor
- Married 2nd FHA Loan Advice
- Trying to finance houses under 500k for a flip
| First Real Estate Investment Strategy? Posted: 15 Mar 2021 06:49 PM PDT Aloha, What was your first real estate investment strategy? (House hacking, syndication, BRRRR, etc.) Would you recommend that strategy to a beginner? What were some things you learned from your first deal? Thank you for your participation in advance! [link] [comments] |
| Turning rental properties into an LLC Posted: 15 Mar 2021 10:35 AM PDT Throughout my life (26M) I've known many people who are real estate "investors", which in my country are old-ish people who managed to scramble together some money (mostly by working abroad during their young adult life), and used it to buy land and building appartments buildings in the 90's, and renting them (usually long term). Being interested in RE investing, I've had the idea of turning my would-be rental properties into a business (LLC), but no one I know has ever done it. Being the over-analyzing mess that I am, I started wondering wether it's because they just don't have the knowledge and know-how (plausible), or because there's some tiny detail I'm missing that only the insiders know about. Turning rental properties into an LLC just seems like the logical and reasonable thing to do, and yet no one's doing it. Is there something I'm not seeing? [link] [comments] |
| Posted: 15 Mar 2021 08:19 PM PDT I just closed on a duplex in which I will be living on one side and renting out the other. One side has had tenants since Dec 2019. They had a 1-yr lease from Dec 2019 to Dec 2020, and have been month-to-month since then (since the seller of the property didn't want to mess with my plans, they did not renew the lease and just kept it month to month). I already text messaged the tenants and let them know of the change in ownership and that I am their new landlord. Tomorrow I will be going to the property to introduce myself in person. My question is for tomorrow, should I show up with leases for different scenarios (I'm not sure yet if they want to stay month to month or sign a 1 year lease again)? Or should I just introduce myself tomorrow and based on their plans and negotiating rent, come back with a lease to sign on a different day? [link] [comments] |
| First Real Estate Investing - Fourplex Foreclosure Posted: 16 Mar 2021 04:28 AM PDT I'm looking at a 4 bed 4 bath 1600 sf fourplex foreclosure. I'm a first time investor and I would like to know what due diligence to do. I've read up online but it feels sometimes vague and I want to be deathly certain. I know foreclosures aren't usually recommended but I thought that since this isn't single family, I won't face some of the same issues that are in regular foreclosures. What could go wrong and what do I need to check? I can PM you guys the property too if you want to give specific feedback like that. Also, the property is like 60% of estimated market value and it is so cheap that it wouldn't make a dent in my savings if it went to 0. My goal would be BRRRR. [link] [comments] |
| Posted: 15 Mar 2021 06:49 PM PDT I am currently house-hacking my starter home (23m), and plan to use my nest egg in 2-3 years to develop an urban triplex/quadplex and live in one unit for a couple of years, then rinse and repeat. These would act as high-end rental units. Does anyone have success with this or would buying an existing tri/quad yield a better investment? [link] [comments] |
| Posted: 15 Mar 2021 11:38 PM PDT When we think of buying a home, we enter a world full of a maze, with thousands of items running through our minds: location, amenities, down payment amount layout, and a lot of other matters, and GST is one of these subjects that leaves us far more perplexed with various provisions to follow. I was also facing the same confusion, but then I came across the GST Simplifier For Home Buyer and got a clear understanding of it. [link] [comments] |
| Moved back in to rental but want to upgrade and rent out different property Posted: 15 Mar 2021 08:31 PM PDT Hello, I moved from WA St to WA DC and we rented our home out while we were gone. We bought another home a couple years ago in the the DC area and then sold it in May to move back to WA St. (Used IRS publication rule 523 to avoid taxes since we didnt live in it for a full 2 years). We moved back in to the WA St rental but now want to sell it and upgrade our home AND buy a vacation property. Will we be dinged the capital gains on the rental via taxes or can we 1031 exchange a portion of it even though we moved back in to it? We did refinance the home in July to a primary residence. [link] [comments] |
| Any cash buyers or SubTo buyers in Las Vegas? I got deals Posted: 15 Mar 2021 11:56 PM PDT Send me a direct message if you are ready to pull the trigger [link] [comments] |
| Buy out right or lower amount spread onto more homes? Posted: 15 Mar 2021 07:07 PM PDT Over past 6 months, I have been able to a mess about $750,000 in crypto and now am looking to convert that into property. Option 1. Purchase 5 single family homes for $150,000 homes for a rent income off around $6000. Option 2. Use $30-$50k per home to purchase more then 5 single family homes. Option 3. ??? [link] [comments] |
| Total Newbie Looking for Advice Posted: 15 Mar 2021 10:05 PM PDT Hello I have savings (around ~$85k) that I want to invest; and make money on. I am considering real estate investment. I don't have the foggiest about what I should do / know etc. or where to buy (I am based in the Bay Area but have no expectations I'd be able to buy anything worthwhile with that budget right now) Where should I begin looking for tips and next steps?? Slightly overwhelmed Thanks [link] [comments] |
| Extra payment towards principle Posted: 15 Mar 2021 08:59 PM PDT Hi all, newbie needs your suggestions/tips. How do you think making extra payment towards principal ton the first rental property? Should or shouldn't? Why? Also, if so, how much should you make for your extra payment? Thank you in advance! [link] [comments] |
| How much to put down on an investment property? Posted: 15 Mar 2021 09:01 AM PDT Would like go hear from experienced investors. Do you normally put down 20% , 10%, 5% down on your investments? Thinking of buying my first investment property by this summer and would like to know what other investors do. For some background, prices in my area have gone through the roof in the past couple of years. However, with the recent events in our economy I do want to protect my cash against inflation. [link] [comments] |
| Posted: 15 Mar 2021 06:37 AM PDT The short version, I bought a Multi-family before the end of 2020. I'm living in one of the units. I would like to move out earlier than 12 months. I've been happy to live here while overseeing repairs. But I changed jobs post purchase. My commute is now an hour. The second reason is obviously financial. How can I legally rent it out earlier? [link] [comments] |
| Posted: 15 Mar 2021 07:52 PM PDT I'm curious on anyone's experience. I plan to use rocket dollar to roll $110k an old 401k, from previous employer, to invest in income property. Reason is, as overvalued as the real estate market is, I think the stock market is even more overvalued and manipulated. People will always need a roof over their head, and rentals are almost impossible to find in my market. We have people living in RV parks, with good jobs, like RNs because they can't find a rental. How much can I borrow on a 30 year fixed with 110k down? Rocket Dollar sets up an LLC, but it will be brand new. Will a conventional lender want 20% down? I don't want to get creative. Old fashioned 30 year fixed like I have on my personal home. A few years ago I rented out a home I owned after moving. I found that it was mostly break even. I don't want to speculate on the property appreciating. I want income to equal mortgage, and expenses, so it's a positive cash flow. Is there a particular property class that's better than single family? (My thinking is that, while property values are at a peak, and may lose value, there is demand for rentals. People can't not have a place to live. If the market tanks, the rents will still be out there.) [link] [comments] |
| BRRRR Calculator Recommendations? Posted: 15 Mar 2021 06:56 PM PDT All, Looking for good BRRRR calculators. I would make my own but I'm fairly weak at Excel. I've used bigger pockets and dealcheck but they feel hard to read. What do you all use and how do you know if you're getting a good investment? [link] [comments] |
| Posted: 15 Mar 2021 06:48 PM PDT Hi everyone, Be reading the sub for most of the year and trying to pick up as much as possible. We have saved diligently this year and are looking at our first potential investment. I was hoping you may take a look and see if I'm crazy or this does seem like a good investment: House is a 4 br in a college town. Negotiating Price between $300k-$325k My assumptions are as follows: Currently Rented at $1700, with a 3% increase YOY Property tax at $4200 with a 5% increase YOY Insurance $1500 with a 3% increase YOY Maintenance cost of $1500 with an increase of 3% YOY Other costs of $200 per year Vacancy Rate of 10% Appreciation of 2% YOY We will be managing I'm finding a Cap Rate of 3.37% (@$325,000), IRR of 7.34%, but cash flow not going positive until year 10. If we can negotiate the purchase price down to $290,000, I'm seeing a positive cash flow beginning in year 5. and an IRR of 8.3% First, what do you think? Is this a crazy idea to not be cash flow positive the first fe years? My only other real major concern is renting to college students, but I also think that because of this we won't have to do major renovations to keep the property rentable. It is in good shape and had HVAC replace 2 years ago. Thanks, I greatly appreciate any advice or responses. [link] [comments] |
| Posted: 15 Mar 2021 06:46 PM PDT We purchased a 4-plex in the 90's and are planning to sell. We currently live in a duplex we remodeled, we occupy both units. We are having a home built this year and have taken out an equity loan on the duplex to assist in paying for the new build. Both multi families are owned outright. The equity we are borrowing is $172,000. We have an LLC that we use to hold other non-income bearing properties in. The 4-plex may sell for around $300,000, unlikely to be financed. The duplex is worth around $280,000. Can we use some of the proceeds from the sale of the 4-plex to pay off the equity loan and avoid capital gains while converting the duplex back into an income property? The new build will also include an office for the LLC and be located on LLC deeded land with the business. Are there any ideas folks can suggest to reinvest the 4-plex proceeds and avoid excess taxation? We will be checking with our CPA, meanwhile hoping for ideas from you kind folks. Thanks. [link] [comments] |
| 3 apartments and 3 retail spaces what type of loan should I be looking for? Posted: 15 Mar 2021 06:44 PM PDT So I am fairly new to commercial investments. I am wondering what type of lender I should be looking for. I am interested in buying a commercial property the has 3 residential units and 3 retail units. I don't know if I should be looking for a 1-4 residential loan or a commercial loan. I do not plan to occupy any of the units. The retail spaces are leased currently. So there is income. Can anyone offer guidance? Thank you in advance. [link] [comments] |
| Experiences Lending to a Builder/Developer Posted: 15 Mar 2021 06:33 PM PDT Hey guys! An opportunity has presented itself where I give a builder building around ~200 homes on Colorado a 100k loan and I get around 9% back each year and I get all my money back in 2 years. This seems like a pretty good opportunity to me, however I've never been a private money lender before. Is there anything I should look out for/ask for as collateral? [link] [comments] |
| Tax defaulted , Deed , foreclosures , sheriff’s, trustee sale, tax auctions Posted: 15 Mar 2021 06:16 PM PDT Hi. I want to attend some property's tax auctions ,but I'm scared of liens that they may not wash in the auction sale. The research it's time and cost consuming,and a lot of property's can be redeem , right before the auction.If you pay for a title search on so many properties ,that cost can go up really fast.I'm trying to find a different way other then a title search or county records (like an online website )more cost effective and time efficient to do those investigations.Any suggestions are much appreciated [link] [comments] |
| How do you determine if a rental on the market is a good investment or not? Posted: 15 Mar 2021 06:00 PM PDT For me, I determine if there's a reason why it'll always be rented or if not. Then I determine the Return on Capital Investment. WBU? [link] [comments] |
| Posted: 15 Mar 2021 09:44 PM PDT I'm coming to the end of my high school journey and I really want to get into real estate investing/owning rental properties. I'm trying to do some research around where to start. I've been saving the little bit of money I've been able to earn from my part time job and currently have some of it invested in some stocks. I'm looking for some advice on where I can start without a massive amount of upfront cash. I'd love any help possible. Thank you! [link] [comments] |
| Posted: 15 Mar 2021 05:38 PM PDT So I got married this year. Prior to getting married I bought a house using an FHA loan in Louisiana in my name. I've lived in this house for over a year. If we moved to Florida would we be eligible for another FHA loan in either my wife's name bc she hasn't had one? Or my name bc the primary occupancy period of 1 year was met and we were relocated due to work? The idea would be to hold on to what we own now in Louisiana and keep as an investment property and to buy a condo on the beach to live in for a few years and then rent it out on Airbnb in the future. Is this possible? Thanks! [link] [comments] |
| Trying to finance houses under 500k for a flip Posted: 15 Mar 2021 05:34 PM PDT Are there any resources to find houses that need some love under 500k to finance besides the MLS? We don't have enough cash to buy them right now so no auctions, however my friend makes $1mil a year and has good credit so we can finance... I'm just not sure where to find such deals besides searching the MLS day and night [link] [comments] |
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