Real Estate Investing: Happy to announce that I'm graduating from tenant to landlord. What mistakes did you guys make as a young investor on your first property? |
- Happy to announce that I'm graduating from tenant to landlord. What mistakes did you guys make as a young investor on your first property?
- Help! Runaway water bill ($1,800/mo)
- Halfway houses / recovery homes?
- CryptoSwap Finance - Bullish DeFi ICO of 2021 – Everything you need to know - Features Overview - Products launch in May. Gain 50x short-term.
- Need some help from landlords for a problem tenant
- Selling apartment Call back potential buyers
- miami beach?
- Is Flipping Houses a Good Way to Get Into Real Estate Development without Having a Job in the Industry?
- Is buying a condo in Houston a good investment considering remote work and home offices are popular now?
- Advice Needed!
- Offer structure
- How would a housing market hyperinflation crisis play out?
- Mortgage for rental property: 5-year fixed at low x% VS 25-year at 2x%
- Tech to track DD on where to buy?
- What Is Truly “Enough” Money To Jump Into Real Estate Investing?
- How does the 2% rule even work in Canada?
- What Are Your Thoughts On Classical Architecture In Investing?
- Any Veterans here that use the VA loan for Real Estate Investing?
- is anyone using Surly Bonds instead of a security deposit ?
- Issues with title and insurance.
- Questions about cash buying
- Looking to get into real estate with very little money
- (Advice) Selling Condo in NYC
- What’s the best way to get a loan secured against your property when LTV is more than 80%?
| Posted: 14 Apr 2021 10:24 AM PDT Its been on my investment bucket list for years now, and despite graduating college only to be thrown into a horrendous seller's market, I finally won one. I was starting to have doubts if I could ever compete with 100% cash buyers (the reason why my offers weren't accepted on every other property before this one). I finally found the right duplex, in my budget, and the right offer to persuade the seller on going with a mortgage-buyer instead of cash. The plan is to rent the larger side and live in the smaller side for the next couple of years. Everyone had to get their start somewhere so if you have tips or failures you'd like to share from your beginning days, I'd love to hear it, and hopefully other young investors find this helpful in the future. Cheers! [link] [comments] |
| Help! Runaway water bill ($1,800/mo) Posted: 14 Apr 2021 06:55 AM PDT My duplex has one water meter and I have seen normal water usage for over 9 months when it was fully rented ($150/mo total, <10,000 gallons). However, the month of March the usage has spiked to 48,000 gallons and on track to hit 60,000 gallons for April. My outstanding bill for both months is $2,200. The water company tested and found no issues with the meter and says I'm responsible for the bill. I've filed a complaint with the utility commission. I've had them, my PM, and a plumber come out to look for leaks, nothing found. I am now having a 2nd plumber come out to look. Everyone I speak with says that sort of usage is a crazy amount. There are no pools, water features, or even a garage. Each unit has laundry, but wouldn't that be a lot of laundry?? Any other suggestions?? These costs are wiping out all profit if it continues. I will pay the couple thousand for a 2nd meter to forever put this on the tenant, but can't do that until renewals which are months and months away. EDIT: thank you all for the feedback! I didn't expect so many responses, I appreciate it. I'll keep you all posted on how it turns out! Little less stressed that this has happened to others. [link] [comments] |
| Halfway houses / recovery homes? Posted: 14 Apr 2021 06:58 PM PDT Has anyone had any experience renting to this organization? Oxford house? https://www.oxfordhouse.org/userfiles/file/index.php There's a deal I'm looking at that has a 5 year lease as one of these. Just wondering if it's a good deal or pain in the ass. It there a "catch"? Thanks in advance [link] [comments] |
| Posted: 15 Apr 2021 02:40 AM PDT CryptoSwap Finance is a decentralized exchange that runs on Binance Smart Chain (BSC), and enables uses to SWAP BEP-20 tokens in a trustless and permissionless manner. The platform is fast, cheap, and user-friendly. CryptoSwap Finance has many features such as farming, staking, and trading exchange that enable users to earn and win tokens. That is CryptoSwap in summary. In this article, we will look at the features of CryptoSwap and the problems it solves. Blockchain and smart chain technology have opened a floodgate of innovation. With BSC, it is now possible to develop decentralized finance projects (daaps) with unique features such as decentralized exchanges (DEX), firming, staking, liquid pools, and lottery, which enable users to earn and win tokens in various ways. CryptoSwap Finance is a decentralized finance protocol that offers these features, among others that that enable users to earn higher with the least transaction fee and high transaction speed. Products:
Final Thought The above core features of CryptoSwap enable the users to earn and win more tokens. The users can also directly take part in the voting process to suggest ways of improving the project. CryptoSwap is designed to ensure that the users obtain optimal benefits. Website: http://www.cryptoswap.finance Whitepaper: http://www.cryptoswap.finance/whitepaper.pdf [link] [comments] |
| Need some help from landlords for a problem tenant Posted: 14 Apr 2021 07:36 PM PDT Hey landlords. I have a real situation on my hand. My tenant won't take the $3k payout. Lawyers saying it could take as long as 3 years to get out my squatter. The squatter won't pay, won't respond, and is very unreasonable. I rented the squatter a furnished apartment. Any advice? It's quite stressful. Should I offer more $? [link] [comments] |
| Selling apartment Call back potential buyers Posted: 15 Apr 2021 12:44 AM PDT There different parties in the apartment we are selling, say around 5, that said they were really interested in the apartment. All asked if the price is negotiable which we said for them to make their best offer and we will compare at the end our offers, but warned we had many other interested parties (which was true). And even for the asking price they seemed interested, as they said it was in much better conditions than the others for sale on the same condo for similar price, saying they will make an offer. They all had things to figure out before with concluding the sale of their own apartment, most having a buyer already lined up. But 1 week has passed and we didn't hear from them again. Do this deals move fast and so do we assume we have no longer interested buyers? If so we should contact them and say something like: we have a few people interested and to organize ourselfs and compare possibilities we would like to know who is still interested (or what would you say? Since we would have nothing to lose) Or it's normal to take some time? And should we just wait not to lose negotiating power? [link] [comments] |
| Posted: 14 Apr 2021 08:11 PM PDT curious as to opinions on this subsection of miami. i've been looking heavily into bayshore and nautilus neighborhoods for a multi-family purchase. looking in the 5-20 unit range. i currently live in PA, but plan on moving to miami beach within the next two years. any thoughts on the upside of those two neighborhoods i mentioned? i plan on staying away from atlantic heights area. i have around a million dollars to work with, and i plan on putting around 700-800k to work in real estate via 20-25% down payment. also please don't bring up sea levels, i'm aware of the data on that. [link] [comments] |
| Posted: 14 Apr 2021 12:35 PM PDT I am a Data Scientist by profession and I am passionate about houses and real estate. I would love to start a development firm at some point, but it is hard to know where to begin. Any tips on getting into development without a job in the industry? [link] [comments] |
| Posted: 14 Apr 2021 10:54 PM PDT First time investor (33m) looking at a condo in Midtown Houston for $205k for a 1 bed 1 bath 660 sqft. Seeing a lot of articles around why condos are not the best investment but not seeing any single family homes in my price range in the desired location. I'd like to ideally rent it out fully furnished to generate some passive income and tax benefits. Apologies if I've missed any key details. Thanks for the help! Mortgage : 1300 Rent :1300 (unfurnished) Hoa : 166/month Income: 150k pa [link] [comments] |
| Posted: 14 Apr 2021 04:07 PM PDT I just started working for a guy who flips houses. He prefers to get in touch with the owner of a house and tries to get them to sell. I'm having trouble finding houses that not only need to be flipped but also where I can contact the owner directly. I've tried websites like forsalebyowner.com and it helps some but not a lot. I'm not a real estate agent so I don't have access to many sites that could help, but he does. Given my situation, how should I go about finding houses and contacting people? [link] [comments] |
| Posted: 14 Apr 2021 02:18 PM PDT New investor Looking at making my first multi family purchase soon. I have my real estate license (although I don't use it too much). I'm debating structuring my offers in a few different ways, and curious what would make my offer stronger for myself, and what would make my offer stronger to owner and listing agent. All options revolve around the fact I can play around with my commission. Option 1 is to send offer at full list price, and ask for 2.5% seller concession (assuming split is 5%) Option 2 is take 2.5% off purchase price, waive commission. Any other options? My broker is okay with not getting "his cut" and won't have a problem with whatever I do, if that's what anyone's objection would be. [link] [comments] |
| How would a housing market hyperinflation crisis play out? Posted: 14 Apr 2021 07:25 PM PDT Just a scenario. Let's say that due to massive increase in government spending by Congress and the Fed creates an inflation crisis that affects the housing market, similar to the 1970s oil crisis. Consumer spending in most sectors dropped double-digits at the start of the pandemic but consumer spending on housing remained flat as people were still paying mortgages and rents since most people didn't panic sell or break leases at the start of the panaroma. If bidding higher than asking price continues for a few years due to increased consumer spending on everything, how would that play out? I could see significantly increased homelessness until supply increases. . Okay so maybe this would happen quickly when supply rapidly increases when people are vaccinated...just like now... So maybe this is just a mini housing market crisis that fixes itself after herd immunity. Thanks for listening. [link] [comments] |
| Mortgage for rental property: 5-year fixed at low x% VS 25-year at 2x% Posted: 14 Apr 2021 03:24 PM PDT The question of "5 ARM vs 30 fixed" has been asked a ton and the answer is clearly almost always "30 year fixed", but that usually assumes the difference is about 1% between the two. I'm in a unique situation as I'm foreign and not a resident (Canadian) so I can't get very good rates. I have a rental property in Kansas City and I found a lender that can give me 6.25% 30-year fixed, and another lender that can do 3.25% 5/5 ARM. I generally prefer fixed for the whole term for obvious reasons, but given that the fixed rate is almost double, I'd like to get your opinions. [link] [comments] |
| Tech to track DD on where to buy? Posted: 14 Apr 2021 06:44 PM PDT Say I'm looking at a city and doing my crime reports, school districts, etc. analysis to narrow down the roads or neighborhoods I want to buy on. What are some tools you all may recommend for keeping track of this map? I could print a map out and mark it up and then try to match up Redfin/Zillow on that map every time I look properties up, but we're in the age of tech so figured I'd ask the experts! If it's not clear, I'm hoping for something more detailed and (potentially) disjointed than the circle I can draw around an area in the Redfin/Zillow UI. Thanks! [link] [comments] |
| What Is Truly “Enough” Money To Jump Into Real Estate Investing? Posted: 14 Apr 2021 06:31 PM PDT I've heard it all, from people who say "you can start from near nothing" to "you need to have enough to cover almost a whole house's value just in case. Hearing both extremes and everything in between makes me so nervous whether financially I can be ready to jump in. What would you recommend to have prior to jumping in? $20k? $50k? $100k+? As much as I dream that 50-100k could begin building me a portfolio to a point where my rents can let me be financially independent and live how I want to, I'm coming to terms with reality. When do you feel it is right to "jump in"? [link] [comments] |
| How does the 2% rule even work in Canada? Posted: 14 Apr 2021 05:12 PM PDT I live in Edmonton Alberta, housing prices are irrational from the looks of it. SFH or one side of a duplex are 270k, and rents from them appear to be 1300-1600/ month. This is before property tax is factored in. Is real estate even viable these days for Canada? [link] [comments] |
| What Are Your Thoughts On Classical Architecture In Investing? Posted: 14 Apr 2021 04:46 PM PDT Big fan of classical architecture, but I am wondering about your thoughts regarding the marketability of classical architecture and if it adds any value. [link] [comments] |
| Any Veterans here that use the VA loan for Real Estate Investing? Posted: 14 Apr 2021 09:46 AM PDT Pretty much what the headline says above, I am a transitioning service member that is in the process of buying their first house to either rent or Airbnb after the first year. From what I could gather I read that if using the VA loan there was a requirement to live on the property for at least 1 year. Obviously, the largest benefit of the VA loan is the user is able to exercise the option of paying $0 down. Any vets on here that have utilized their VA loan to make them any extra income flipping, renting oh, or Airbnb? [link] [comments] |
| is anyone using Surly Bonds instead of a security deposit ? Posted: 14 Apr 2021 02:37 PM PDT Surly bonds looks like a no-brainer, but I have never required them. [link] [comments] |
| Issues with title and insurance. Posted: 14 Apr 2021 10:18 AM PDT So I am doing a refi with Better Mortgage. It has been a horrible experience and I would steer clear of them if you are considering them. I have a 4 plex that has the legal address of something like 320-321 North Hampton Rd. Title came back and the address on title reads 320 North Hampton Rd #321. Now Better is requiring insurance on the titled address but I my insurance provider won't adjust the address as its not the legal address. Ive talked to 2 insurance companies and they have never heard of such an issue from a bank. I have requested we repair title to Better but they don't want to as title has been completed. Thoughts? [link] [comments] |
| Posted: 14 Apr 2021 01:56 PM PDT I'm selling my home and moving to another state. I have equity in my current home that I will be using to purchase the new home (multi family) plus a loan from a family member for the rest I don't have. Questions are: Would I still have to provide income verification for the purchase? I have been unemployed for many months because my business shut down due to COVID. Would i eventually be able to take out a mortgage on that house to repay the loan? [link] [comments] |
| Looking to get into real estate with very little money Posted: 14 Apr 2021 06:41 PM PDT I'm in high school and don't have much money. I'm looking to get into real estate but I don't have much money (~$1000) to invest. Is there any way I can do this? [link] [comments] |
| Posted: 14 Apr 2021 12:03 PM PDT After 10 years of owning a studio condo in NYC, I'm looking to sell because the ROI has not been great on it. My family is very close with the broker and she has helped my family purchase other properties in NYC before. Prior to the pandemic, she had recommended that I do a "for sale by owner" since I could save on the seller broker fees. However, when I spoke with her recently, she said that the market has changed and that a lot more studio apartments in my building have come up for sale and that it would be better if she sold it so that she could negotiate better with other agents. I was kind of hoping to save some money and don't think it would be that hard but again, I'm not a professional in this space and don't know if I should continue to push to sell or if I should leave it to her. Part of me feels that it's not that difficult and she may not want to let me shadow because I would pick it up. On the other hand, I could totally get sharked by experienced agents. Thoughts? [link] [comments] |
| What’s the best way to get a loan secured against your property when LTV is more than 80%? Posted: 14 Apr 2021 11:51 AM PDT My LTV is 95% right now based on my mortgage, however the value of the property has increased significantly since I bought it. Will any company offer a loan if I do an appraisal and the LTV comes out to a within their parameters for the loan? Any advice or recommendations would be great! Thank you! [link] [comments] |
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