Real Estate Investing: Where Have All the Houses Gone? New York Times |
- Where Have All the Houses Gone? New York Times
- Insane Deal I found On Craigslist
- How do I purchase an investment property as a first time home buyer?
- Is it worth it anymore?
- Finally got the guts to purchase my first property!
- Roofstock has acquired Stessa
- Bought a house to live while I renovate and turn into a rental. Is there a way to claim the renovation costs as expenses, can I borrow (HELOC) from my other rentals and claim that interest?
- Co-owning a house?
- Interest Rate FOMO (Investment Property)
- Rental Income Net Zero when you have high LTV ratio?
- Pre-screening tenants online?
- AirBnB/STR Questions
- Any1 used Geneva financial?
- Is there a way to get a place in NYC?
- Buying a House Where a Death Took Place
- Reassurance maybe?
- Debate with a friend who got $5M
- Switching brokers
- How to calculate payment(s)
- Rumor on my block about Investor wanting to buy all houses
- Real Estate dispute
- 1031 Exchange to DST - List of state income tax filing thresholds for non-resident?
- Someone help me with using OPM - Please!
- First home
| Where Have All the Houses Gone? New York Times Posted: 03 Mar 2021 11:30 AM PST Where Have All the Houses Gone? :New York Times An excellent bit of reporting on the issue of low supply/Seller's Markets nationwide. The article points to seven causes of the low supply; five are covid-related, one due to fewer homebuilders after the 2008 slowdown and one due to low interest rates allowing home buyers to keep their old home as a rental and buy new. Toward the end of the piece the writers present an oddity where simultaneously prices are rising while rental rates are falling; a sign of possible Bubble conditions. [link] [comments] |
| Insane Deal I found On Craigslist Posted: 03 Mar 2021 07:19 PM PST https://dallas.craigslist.org/ftw/reo/d/hope-16-rental-unitsduplex-triplexs/7285942266.html If I actually had the funds I'd be a bit curious towards something like this but since I don't I'd like here what the /realestateinvesting sub reddit has to say about it. [link] [comments] |
| How do I purchase an investment property as a first time home buyer? Posted: 03 Mar 2021 04:03 AM PST I'm looking to purchase my first home in Delaware. I've been pre-approved for just short of $300k. I'd like to buy a property to rent out but I'm not sure how it would be done without an FHA loan or first time home buyer assistance. Maybe I'm over thinking this, idk. I don't have enough to cover 20% but I do have a significant amount stashed away. Can someone please explain? EDIT: just to clarify, yes I'm well aware I cannot use an FHA loan on an investment property. I'm asking how could it be done without that loan? Probably should have also mentioned I'd like to stay where I am now, in New York [link] [comments] |
| Posted: 03 Mar 2021 02:56 PM PST Finally in a position where I could realistically save up down payment plus reserves and get in the game. I could do this with less money OR save longer term and invest with a syndicator I know. Is any of this even worth doing anymore? Prices are at all time highs, where I live they're starting to give tenants free attorneys in eviction court, and tenants can just stay and refuse to pay and you can't do anything about it. They've also passed lead paint laws meaning more cost to mitigate and comply. I see people say "if I'm profiting $300 or more a month I'm happy," yet one hot water heater or furnace replacement and that's pretty much the ballgame as far as your profit is concerned. Is this really the best way to build wealth anymore or should I be looking out for the next big thing? [link] [comments] |
| Finally got the guts to purchase my first property! Posted: 03 Mar 2021 02:12 PM PST It's been a long process of researching, but I have finally settled on a SFH in Illinois. Offer was approved! Now just inspection time. What do I look out for and any tips are appreciated! [link] [comments] |
| Posted: 03 Mar 2021 06:21 PM PST
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| Posted: 03 Mar 2021 06:04 PM PST I will try to keep this brief. I am Canadian.
Thanks in advance. [link] [comments] |
| Posted: 03 Mar 2021 11:26 AM PST I'm about to get put into a weird situation. My wife's sister wants to buy a house for her kids, herself and long term boyfriend. Both the sister-in-law and boyfriend do not make much money and likely cannot get approved for anything or get the 5% down together very easily. I do not want to gift them $20,000 (houses around here are at least $400k). If I'm going to put down money, I'd like some ownership in the place so if things go wrong I won't be left holding the bag. (ie paying a mortgage of a house I don't own). Yes, I know this is less than ideal because I might have to kick out family members. How can this be made fair? Should I propose paying for half? What is my monthly financial benefit? What about maintenance and repairs? Insurance? etc.... Anyone found an equitable way to handle this? [link] [comments] |
| Interest Rate FOMO (Investment Property) Posted: 03 Mar 2021 11:55 PM PST I just finished a refi on my investment property (a triplex). Great credit score, refi was 60% of the value of property, conforming loan. I got 2.875% on it, had to buy 0.7 points. 30 years. Then I was reviewing this chart this evening. I locked my rate in early December, but now I wonder if I would've done better if I locked it in mid-February. Sure, I might have gotten only 0.25% off, but money is still money. Convince me my rate was pretty good, given that is a rental. Or could I have gotten it lower?! I hate FOMO with interest rates. [link] [comments] |
| Rental Income Net Zero when you have high LTV ratio? Posted: 03 Mar 2021 02:50 PM PST Hi, I tried calculating some real world numbers as I explore renting out my home and realized that since it's still early in my 30yr loan, my LTV ratio is still high and thus the portion of my monthly payment that goes to interest is still fairly high. Homeowners Insurance - $53/mo HOA Fees - $145/mo Property Tax - $913/mo Mortgage Interest - $1106/mo Depreciation of building - $1152/mo I plan on renting for $3k/month so I think I'll actually come in negative (-$300/mo) until I owe less money on the property so that the mortgage interest number drops. I do however make over $150k/yr on my W2 so I don't believe I can reduce my taxable income. Are my calculations off? As a general rule, it seems that so long as your LTV is high on your property, your likely to break even on your rental and not need to pay taxes on it. [link] [comments] |
| Posted: 03 Mar 2021 10:54 PM PST Hey folks, I'd like to ask tenant applicants to go through an online credit check and background check process, which they would pay for. I would want the reports to be delivered to me so that I can select which applicants to show the unit to. I would want all of this to happen before I even speak with the applicant. What platforms are best for this? Thanks! [link] [comments] |
| Posted: 03 Mar 2021 07:08 PM PST Hi, I am soon to be closing on a home in a vacation area. The house is a bit dated so I am curious about the following. Should I immediately go for updates, or try to rent it as is and use profits to upgrade here and there? The key things that look stale are the carpets, bathroom flooring, cabinets and the lighting fixtures and ceiling fans. My second question is about furniture. The seller offered to leave it furnished, some of its good, some of its not. Do I spring for new and trendy stuff from the getgo? I know a lot of this depends on my budget, and I have some money for upgrades so what will stretch my dollar furthest? What is the savvy approach here? Thanks ! [link] [comments] |
| Posted: 03 Mar 2021 10:50 PM PST They are advertising on facebook 75% LTV with 2.8% to 3.3% interest on investment properties. I just hate putting personal information into stuff. [link] [comments] |
| Is there a way to get a place in NYC? Posted: 03 Mar 2021 10:32 PM PST I'm from NYC and am a single woman in her almost mid 20s As you all probably know, everything here is really expensive... I'm looking into foreclosed multifamilies, but those are always in a huge state of disrepair and often need gut renovations. I see people doing renovations for 20k or 50k on this sub, but a family member who is used to this has said it would cost around the same price to reno as it is to buy the property (so roughly 1 mil...) To confirm, I want a multifamily unit that I can live in, and I'm a first time home buyer I'm just wondering, is there any way i can realistically do this? [link] [comments] |
| Buying a House Where a Death Took Place Posted: 03 Mar 2021 08:30 PM PST I just got an offer accepted at a hot US market where it's very difficult to buy a house due to multiple offers. However, I found out a suicide occurred in the house a few years back. Do you think I should proceed with the purchase? Why or why not? [link] [comments] |
| Posted: 03 Mar 2021 07:45 PM PST Took on a big investment- maybe too big and feeling overwhelmed. 1) what did you took off too much and 2) was it ever worth it or did you just totally fuck your self? [link] [comments] |
| Debate with a friend who got $5M Posted: 03 Mar 2021 07:07 PM PST I had very interesting debate with my friend who by some magic got/inherited ~$5M (after tax, money is on his account). We were talking about whether it is better to buy 5 x 1M dollars homes, rent them out and get 20k a month or something else. He was very convinced that is the best way to protect the money. I recently joined this group, saw amazing advices and I wondered what would some of you do in this situation. You have nothing just 5M in bank. I'll try to point him to great ideas here. Thanks. [link] [comments] |
| Posted: 03 Mar 2021 03:07 PM PST My mortgage is up for renewal in a few months on my rental property. I am looking to refinance it to take advantage of the lower interest rates and gained equity to buy another rental. The broker I've been dealing with (that the mortgage is currently through) has been difficult to deal with. After no responding to emails, I got a hold of them by phone. The first time I was told to call the next morning so he could get papers together. When calling the next morning, no answer. I got through in the afternoon and was told he had a meeting in the morning and to call the next morning. Again no answer. Tried again throughout the day and left a message but still haven't heard back. I don't want to deal with someone with bad communication and is going to be hard to get ahold of. My time is valuable and I've already had to plan around these phone calls that didn't happen. Is there any downside to switching brokers now? I'm assuming because it is up for renewal that I will avoid fees. Am I missing something other than I will likely have a slightly higher rate as they have gone up since I first contacted this broker about renewal? [link] [comments] |
| Posted: 03 Mar 2021 05:07 PM PST So I currently have a rental that cash flows about $1,700/mo. It's a fully paid off unit. No intentions to sell it. Worth about 450k. I decided to want to pull-out in the neighborhood of 140k from that house to pay for a degree, pay off higher interest debt (cc and loan), upgrade some things in my primary residence and... drum roll.... put up to $75k down on another rental property. The question, or calculations I am trying to prepare and understand are this: 1- is what I am looking to do best via a HELOC, cash out re-fi OR a different method? 2- my thought process is that this "new debt" would be "paid" by the tenants in said unit and in essence be "free" to me. In other words- Paid by then since they pay rent and the $1,700 would now become x-$ less. 3- so let's assume the monthly is $500 for this cash-out and my mortgage on new rental property is $2,000. In my budgeting, do I budget rent PLUS $500 or do I focus solely on what new property needs to rent for? Thanks for all your help! [link] [comments] |
| Rumor on my block about Investor wanting to buy all houses Posted: 03 Mar 2021 04:57 PM PST Basically, my neighbor approached me saying that some investor came around few years ago (before I bought property) wanting to buy up the entire street to build new houses. Something happened and the deal didn't work out. However, supposedly a new investor came around now, and the interest has been sparked. Our neighborhood is one of the last ones that are older houses without HOA, also small natural lake which my house has access to. I'm assuming this is why the developer/investor has interest. If true, do such investors pay market price? Or more? I've heard they can pay more than market price, or it's rumors? [link] [comments] |
| Posted: 03 Mar 2021 04:22 PM PST Hello, I would like to ask for some help, I hope I am in the right place. I live in a subdivision in the county that has an HOA it is on a golf course in a beautiful river valley. There was an 3 acre agricultural zoned peice of land at the end of a dead end road in the subdivision that a guy bought and told everyone he is building a house to live in. Turns out he is putting a "camp ground, canoe rental bed and breakfast" in (right next to the golf course). Needless to say it is going to wreck our property values and bring alot of unwanted traffic, and disturbance of the peace. We have called the county and they are relatively useless. Is there any other recourse that you know of or can think of in a situation like this? Thanks in advance. [link] [comments] |
| 1031 Exchange to DST - List of state income tax filing thresholds for non-resident? Posted: 03 Mar 2021 04:04 PM PST Situation: I'm selling my actively-managed rental properties in the state I live in which does not have an income tax. I'll be doing a 1031ex on each of them (eventually) to purchase interest in a number of Delaware Statutory Trusts... I'm tired of dealing with tenants. I'm working with an investment firm, but I have not selected any specific replacement properties yet. Goal: Avoid having to file state income tax (especially in multiple states). I can do this one of two ways: 1) purchase DSTs within states such as my own with no income tax or 2) purchase DSTs from states where my state income is below the filing threshold. Example numbers: $100,000 gross federal income from my day job; $50k ownership of a DST that pays out 5% annually ($2500). The Problem: I can't find a compiled list of state filing thresholds for non-residents. Does a list exist? I've looked at a few random states, and the ones I've seen use one's federal gross income (not just what you earned in the state) against the threshold and apply a ratio of what you earned in the state to calculate your threshold and standard deduction. Are there any states that only tax nonresidents on what they earned in the state without using the total US income? I'm fine with paying a simple state tax on what I earn in that state; but I don't want to create a giant mess to deal with every April. [link] [comments] |
| Someone help me with using OPM - Please! Posted: 03 Mar 2021 04:02 PM PST A duplex recently popped up on the MLS and I think it's a killer deal. Only issue is I dont have the 50-60k or so to drop on the downpayment as I have funds tied up elsewhere. So what can a man do? I was thinking of partnering with someone and splitting it so I have the funds, but I don't really want a partner long term. I was thinking of doing FHA and living there for a few months (although I'd rather not) Another thing I was thinking about, was asking my realtor to ask the seller to seller finance. But that removes my realtor from the equation so I'd rather not. (although I can pay him on the side still) And lastly, I was thinking of finding a private investor to front the down payment. And 'gift' me the funds. In which I would have a 2-3 year note to pay them back, prob an unfavorable rates. Although I don't know if this is even possible with a conventional loan. Help me please!!! [link] [comments] |
| Posted: 03 Mar 2021 11:27 AM PST I will be buying a home using a conventional loan with the purpose of renting it out, and will cash out refinance in a year or so. Question is: Do you guys recommend I give the minimum down payment or should I do 20% DP. [link] [comments] |
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