Real Estate Investing: What is it about Austin, TX that made it become the fastest growing city in America? |
- What is it about Austin, TX that made it become the fastest growing city in America?
- I’d like to learn more about RE investing with less work involved. I don’t want to be a hands on landlord anymore. Not sure where to start with property management companies or a plan from here.
- Letter to Repay Damages (AZ)
- LLC “Registered agent” question; how do you folks have RAs for multiple states?
- Does a home equity loan have to be with your first lienholder, or any lender? If you want to use equity for another property can the lender of that roll a HEL into one loan?
- [Oregon] Buying a home with a detached ADU. Plan on living in the main house. ADU has an existing lease agreement. Is the lease carried over in the purchase?
- Fix-&-Flip insurance!
- Has anyone used landlordcreditbureau.com to report rent payments to the credit bureaus as a small time landlord?
- Foreclosure
- Pre wiring is super expensive
- Anybody know any good books on real estate investment based around UK?
- Questioning my first purchase
- GERMAN Book recommendations regarding german taxes, Gmbh, KG etc for real-estate trading
- Tracking the source of payment of property taxes
- Where are people cash flowing ? What state? Seems like everything is mid west like texas ?
- Bank wants me to personal guarantee commercial loan
- Buying first rental
- Starting with a commercial property?
- Jackson, MS market discussion/info
- Attics turned into a bedroom - are they difficult to rent out?
- Any custom home builders?
- Purchasing a new home and possibly able to rent out condo?
- First timers. Opportunity or hard pass?
| What is it about Austin, TX that made it become the fastest growing city in America? Posted: 05 Mar 2021 06:20 AM PST What is it about Austin that makes it stand out and made it become so popular in what seems like overnight? 10 years ago, everyone was moving to Williamsburg. Now everyone's buzzing about Austin. What gives? Where did the trend in the culture come from and is the trend justified (i.e. Does Austin offer something better than anywhere else in the country? What is it?) or is it just clever real estate marketing? Were there any investors who saw the potential in Austin before it blew up, and if so, what did the early indicators look like? How can that be observed in other markets around the country (Nashville and Atlanta seem to have similar Renaissances of their own)? EDIT: I noticed I'm being downvoted. Can y'all point me to the right sub to talk about this? 2nd EDIT: I was getting downvoted earlier. Thanks for the responses. [link] [comments] |
| Posted: 05 Mar 2021 09:11 PM PST I'm a very small time re investor. Right now i have one property netting $1200/month and that one is a good situation so I'm keeping it for now. I'm about to close on another property that will net me $130,000. I know to some of you that's not a lot of money but for me it is! So I'm trying to decide what to do next. I'm interested in continuing to invest in real estate but I don't want to be a landlord anymore. I had multiple rentals before and Airbnb's and I'm just not good at it. I find I'm just too emotionally invested in it. But i do like the passive income. So I'm looking at options. So i could buy another property in cash and have a property manager. I could probably get financing and use that money as a down payment on a few properties and have a property manager. I have looked into some of those crowdsource real estate investments sites. I understand you pay more in fees but that may be worth it to me if it's hands off. I think I'd really like to get into commercial property also but i don't know that i could qualify for financing. I don't have any mortgages now so my dti is good. I could potentially use that other property as collateral as well. Anyway I welcome any and all advice. Where I am the market is hot, but it isn't crazy like I hear about in some areas. Things are moving quickly but not above asking price. But I'm also considering just waiting for a minute to see if it chills out. I read so many mixed ideas about it. I'm fairly young but the bot deleted my post when i said my age so I'll say i can draw social security in the year 2058. I'm also a single mom to small kids and work full time which is part of why i just don't have the time and energy for the landlord thing anymore. And i need to maintain some degree of liquidity and can't take as much risk or move around a lot like i could if it was just me. That's what i started with was owner occupying a multi family fixer upper but now i have to maintain stability and need more space. Anyway, thanks for your input! [link] [comments] |
| Posted: 05 Mar 2021 05:03 PM PST I had a nightmare renter. They are out of the house, but damages are $10,000+ beyond the security deposit. Does anyone have an example demand letter of what to send the tenants for the remainder of repair fees? Also, can I charge them for the appliances they destroyed even if I'm not going to replace them on the property? [link] [comments] |
| LLC “Registered agent” question; how do you folks have RAs for multiple states? Posted: 05 Mar 2021 08:33 PM PST I own rentals in 3 states. But I own none in my home state. My CPA says that I should get my LLC registered to do business in those 3 where I own property. So I called LegalZoom because I used them to set up the LLC. They say that I need a name and address in each state "where that person can be reached during business hours". Then comes the scam: LegalZoom can be my Registered Agent for $250 per year, per state. So if I contract LegalZoom to be my RA then it will cost me $750 per year for 3 states. I wondered if I could use the property managers, but I'm not sure that will work, as I'd have to assign a specific person. Or I wondered if I could use my name in 3 states, but use the various rental property addresses as the address of me as the RA in that state. Or use LegalZoom. Those are the only 3 ideas I have. My CPA suggested looking into "Mail Boxes etc" as a service that will give me a mailing address in various states. Any ideas? Who do you folks use as your registered agent in various states where you own? Is this even necessary? [link] [comments] |
| Posted: 05 Mar 2021 09:33 PM PST I see the differences between home equity loans, helocs, cash out refinance, vairrrl, hard money loans etc. But I haven't seen it specified though if the second mortgage on a property has to be done with the first lienholder or if a second lender is fine. Maybe that's a dumb question. And if you are looking to fund an investment property with that home equity loan, can the lender of that next property basically roll that into one mortgage? Not sure if that exists or even matters but i figured its potentially less paperwork and fees if your equity you can pull out is roughly equivalent to the down payment you're going to make. [link] [comments] |
| Posted: 05 Mar 2021 08:49 AM PST I'll follow up to say that I'm meeting with an attorney next week to discuss this, but I'm just curious if there's anything easy to reference that says either a lease must be carried through with the property or is nullified by an owner-occupied purchase. [link] [comments] |
| Posted: 05 Mar 2021 06:08 PM PST Hello, I'm on my third flip, so still new to the world of fixing and flipping. I've been using state farm, but have been severely underwhelmed by the service. It's been two weeks, and I can't seem to get a policy from my agent. Firstly, I'd love a recommendation on an insurer, and second, any suggestions on type of policy, or what to look for? Thanks a bunch!!! [link] [comments] |
| Posted: 05 Mar 2021 07:50 AM PST Looking for some feedback on this service or any other service you have used to report rent payments to the credit bureaus? I feel like reporting to the tenants credit will encourage on time payments and help the tenant build credit. Let me know what you have used please. [link] [comments] |
| Posted: 05 Mar 2021 04:16 PM PST Hi Everyone-- I live in Florida and I'm thinking of buying a house in foreclosure. I was wondering how do I start the process of getting a house or condo in foreclosure. I was trying to read this outline but I just want to make sure I'm not missing anything.
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| Posted: 05 Mar 2021 04:07 PM PST Booked a new construction property with a very popular builder. Their electric appointment was horrendous. Each recessed light from them costs $200, a junction box costs $250. We know wiring is easier done during construction, but this is too expensive. Any suggestions? [link] [comments] |
| Anybody know any good books on real estate investment based around UK? Posted: 05 Mar 2021 04:04 PM PST As title says, looking for books on real estate investment in the uk. [link] [comments] |
| Posted: 05 Mar 2021 06:20 AM PST I'm thinking about purchasing my first home as a rental property. Everything is good to go, needs no fixes and passed a city inspection for a rental license. What gives me pause though, is there is a tree on the side of the house that is literally growing INTO the foundation on an angle. I stress that the tree is partially IN the foundation. I was wondering if anyone has seen something like this before. Is it worth getting the tree removed? Can it affect the foundation? Is it too late to get the tree cut and the damage is already hypothetically done? Is this too much of a red flag? [link] [comments] |
| GERMAN Book recommendations regarding german taxes, Gmbh, KG etc for real-estate trading Posted: 05 Mar 2021 08:41 AM PST Hi, as the title says I'm looking for ways to save tax-spending by starting a Gmbh or KG. I was not able to find any good information on the advantages and disadvantages for my current situation. We have a tax-advisor who recommends us to start a KG but I want to get educated independently too. Danke! [link] [comments] |
| Tracking the source of payment of property taxes Posted: 05 Mar 2021 01:36 PM PST Is anyone aware of whether tax collectors track the source of the payment of property taxes? Say my parents submit a payment online for a property for which I'm listed on the title. Is that problematic? Does that get reported to the IRS? [link] [comments] |
| Where are people cash flowing ? What state? Seems like everything is mid west like texas ? Posted: 05 Mar 2021 01:10 PM PST Hello everyone, Im wondering where everyone is cash flowing now and whats their avrg cocr look like [link] [comments] |
| Bank wants me to personal guarantee commercial loan Posted: 05 Mar 2021 12:23 PM PST I'm in CA. Trying to refinance a loan that represents 5% of the property value on a multi-family property; LTV is great; financial statements strong. In looking at banks/brokers the one with the best rate is telling me I need to add myself as a personal guarantor on the loan. My concern is that this will affect my personal credit. And I plan on taking a personal loan out within a year on my house for some remodeling. I'm fortunate to have strong assets and a good credit score 800+ , but don't have strong W2's. Anyone have some input on my concerns? [link] [comments] |
| Posted: 05 Mar 2021 02:49 AM PST I'm looking at buying my first rental property. I found a duplex for 210k which is very under valued in my market. Currently only one side is rented so I want to live in the other, and do renovations over the next 8 months or so and then move out and rent that side as well for an increased rent. The problem I'm having is getting a mortgage. I'm only 19 so I don't have a lot of credit history yet or a huge income, hence why I want to live in one side for an owner occupied loan. I got pre approved for 140k with 10k down. I'm thinking someone's going to scoop this deal up before ill even be able to figure anything out, but id like to be more prepared so if another deal like this comes on the market, I'm ready. Is there any way around this? Or should I just keep working on my credit for longer and work on getting a bigger down payment? I plan to do that anyways but want to see if I can some how get into my first deal sooner than later. I'm going to check with several different lenders but I'm expecting the same results. Any advice is much appreciated, thanks! [link] [comments] |
| Starting with a commercial property? Posted: 05 Mar 2021 11:17 AM PST I have been in the commercial real estate industry for about four years, but I have yet to purchase any real estate outside of my primary residence. I recently stumbled upon a listing for a 4,600 SF three tenant retail strip in a secondary market. The property appears to be leased with below market rents and the seller is motivated. The deal looks good on paper and I have shown it to a couple of my mentors. One said I should wait and start small with a single family residence to learn the ins and outs and to lessen my risk. The other mentor stated that he wished he would have just gone directly into commercial properties instead of single and multi-family as they generate more hassle. Should I pull the trigger on a commercial property as my first real estate investment? Thanks! [link] [comments] |
| Jackson, MS market discussion/info Posted: 05 Mar 2021 10:26 AM PST I work for developer that's interested in gut-rehabing a MF property in 39203. ~20-36 units depending on if we convert them from all 1B to a mix of 1B and 2B. He actually knows Jackson better than I do as he went to school in MS but I'm analyzing the demographics/financials/etc. I'm not familiar with the market but the demographics as a whole don't look too favorable to me, but we could obviously target a submarket successfully. The property is a 15 min bike ride from Millsaps College, though a tenant would have to cross some railroad tracks. I'm going to ask a friend who went there a few years back about his experience finding off campus housing. Basically, I'm just looking for some more information on the Jackson MF from someone with experience there. Can provide some additional info if needed. [link] [comments] |
| Attics turned into a bedroom - are they difficult to rent out? Posted: 05 Mar 2021 09:31 AM PST Toured a few houses recently and one of the houses I was really interested in had a attic turned roof. Odd pathways, slanted roofs, no door leading up the stairs etc. I was thinking this house would get market rent no problem, but now that im doing some deeper diving im curious how others how seen tenants complain about them or anything Assuming the room is large enough and you adda proper door, has anyone ever seen issues with attic bedrooms? Also thinking about the heat in summer.... surely just thinking of things to worry about but its better to be prepared! [link] [comments] |
| Posted: 05 Mar 2021 09:21 AM PST I'm 19 and have about $40,000 saved up from internships. I expect to have about $150k+ saved up by the time I'm 22. I would like to buy some acres of land in my state and start a custom home building business. I'd like to learn more about the business while I'm still in school and saving. It's a lot different from what I'm studying (computer science), but I've always been fascinated by beautiful homes and construction. Are their any custom home builders that I can dm? Or any resources to learn about custom home building? [link] [comments] |
| Purchasing a new home and possibly able to rent out condo? Posted: 05 Mar 2021 09:16 AM PST Hey everyone. My wife and I are looking to move out of our condo (we live in south suburbs of Chicago) and into a new house. After talking to our lender and realtor I realized that I can take a loan out against my 401k and use that as the down payment on our house. Because of this we don't necessarily have to sell our condo to come up with down payment money. Real estate investment has always an interest of mine but something I thought was 5-10 years down the line. The condo is located in the south suburbs of Chicago. 2 beds 2 baths. 1200 sqft. I basically have no idea what I should/shouldn't do and would love any kind of advice to help! [link] [comments] |
| First timers. Opportunity or hard pass? Posted: 05 Mar 2021 08:44 AM PST Hi Folks, Rental Property FNG here. An opportunity to purchase a 4-plex in Montana has presented itself to us. Our neighbor and family friend who is 75 years old and has multiple properties has repeatedly offered to sell us his 4-plex for 40k. This railroad style building was made in 1910 and is in rough shape. It's currently only got one unit rented for $550(section 8). The owner says he is selling it as a duplex because the basement units are really bad from squatters and will need to be renovated. He let us look at the vacant upstairs unit and it seems pretty rough too and will need new floors and a new bathroom and probably kitchen updates as well. He says all the units have been rented by section 8ers for years and with his age and other properties this one just slipped into a bad state. He said he was too embarrassed to let us look at the basement units... The price and potential seem super intriguing to me but my wife is extremely worried about the condition and cost to rehab it (which are legitimate worries). We could put half down and not have much left for repairs. Or we could put 30% and probably get the 2nd unit up and running. The owner even offered to do seller financing, but we didn't get into the details about it. We would probably just do a conventional rental property loan (maybe they wouldn't loan for it though because of the condition?). The owner is not going to pay to fix anything. What would your thought process be on this? [link] [comments] |
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