Real Estate Investing: What’s stopping me from buying these $300-400 plots of land on eBay? |
- What’s stopping me from buying these $300-400 plots of land on eBay?
- Is a European bank likely to offer a mortgage on an investment property if I'm not working in that country? I've source a deal in France and have raised 50% equity but I don't have a business or credit record in the country. How can I fund the remainder?
- Anyone buying anything in this crazy market?
- Can I get a mortgage for a duplex with 3% down as a first time home buyer with good credit and good debt to income ratio?
- Strategy for First time Home and Real Estate Investing with 80k saved
- CoastFire with property flips
- When should I do a cash out refinance?
- Can I add cost of renovations, upgrades, realtor fees, closing costs to my cost basis for a property to reduce CapGains when I sell?
- Deal structures
- Finding unlisted homes or for sale by owner?
- Non-conforming units an issue?
- Buying a house in the south NJ and Delaware area
- Seller's Realtor Claims Seller has Dimentia and Doesn't Remember agreeing to sell.
- Another 1031 Question - Trading into ownership of an LLC
- Does anyone here buy delinquent tax certificates?
- Is hiring a real estate management agency for one rental property worth it?
- HELOC for Investment Properties
- Future Rental - explain like Grandma
- Building ADU on rental property
- Personal Line of Credit
- 1031 exchange and real estate agent
- Will buying a "nice" house to rent reduce your chances of getting problem tenants?
- Hmwhere How/Where to Find “Distressed” Properties
- Mortgage advice needed, have 20% down payment but self employed
- Cash out refinance - being asked what will use the funds for
| What’s stopping me from buying these $300-400 plots of land on eBay? Posted: 12 Apr 2021 12:03 PM PDT Is there any catch to these? I found a lot in particular for sale on eBay that I could buy just for fun. They are $300-400 and claim the property tax is just dollars a year. I'm a newbie to buying any kind of property. I'm in college. [link] [comments] |
| Posted: 13 Apr 2021 12:24 AM PDT I've only completed a couple of small deals in my home country, self-financed but I've since stumbled on a nice deal in the south of France through connections I worked with on a couple of smaller projects. Investors are lined up but I have no idea how to go about securing the remainder. I was hoping to fund the deal with 50-60% debt, which I believe is quite reasonable but I could be totally off. Would a French bank even entertain offering me a mortgage, as an outsider - or would I need to set up an SARL & build up my credit somewhat? Thanks in advance. [link] [comments] |
| Anyone buying anything in this crazy market? Posted: 12 Apr 2021 08:56 PM PDT Anyone actually buying anything in this crazy market? I'm looking at single family houses in the suburban NYC metro area market. I've been bumped out of attorney review twice now. Each time the attorney asked if I wanted to come up on the offer, but I refused because a seller who shows and takes another offer while in attorney review will try to fish for a bidding war. Wondering if anyone else is dealing with this nonsense. [link] [comments] |
| Posted: 12 Apr 2021 02:06 PM PDT The bank I just talked to said a minimum of 15% is required [link] [comments] |
| Strategy for First time Home and Real Estate Investing with 80k saved Posted: 12 Apr 2021 04:42 AM PDT Looking to go to northern VA near DC, MD area I make about 150k a yr and have saved 80k. I would like to get a nice duplex but there are none in my area since im not in a city or they are near a million dollars. What is the best strategy for how much I should put down? What is my price range I can afford? Can I be looking at multiple properties with what i have? If not what is the benchmark? I know the market is in shambles right now but not sure if I should wait.. 80k is 20% of 400k but I've been looking in the 650k range right now..should I put 20% down or maye do like 10% and get 2 places? [link] [comments] |
| Posted: 12 Apr 2021 05:40 PM PDT Has anyone used or planning to use flipping as coastFIRE strategy. In my MCOL area in US South, 90k per year is possible FIRE number. Was wondering if one can realistically flip 2-3 houses a year and make 60-90 K and rest can be covered by dividends from investments. Is this practical strategy or am I delusional. P.S r/coastFIRE - Earn income only to cover current costs, fund retirement with earlier saved assets that will grow in future, to enable regular retirement at 60-65 age. [link] [comments] |
| When should I do a cash out refinance? Posted: 12 Apr 2021 09:54 AM PDT Hey everyone! New investor here in Bergen County NJ and I got a quick BRRRR question: When is the right time to do a cash-out refinance on a property? Details: I have a 2-family with 1 tenant on the 1st unit. I did medium renovations for the second unit and it's currently vacant. Should I refinance before or after I get the second tenant? Anyone know of any good banks or lenders in my area that are familiar with these sort of things? Thanks all! [link] [comments] |
| Posted: 12 Apr 2021 09:14 AM PDT as mentioned in title, is it allowed to add this stuff up to increase the cost basis for CapGains calculations upon future sale? [link] [comments] |
| Posted: 12 Apr 2021 10:54 PM PDT Hey Everyone, I've gotten some cool responses to questions about recent deals people have and down payments and cash flows. I sense people like talking about their successes. I am curious about the flip side of that. How often have people made investments and they ended up not being able to rent the place out and just couldn't ever generate cash flow (or appreciation)? I have a friend who has sort of been my inspiration to get into real estate but he finally just told me that he has one place he just bought and can't rent it out because he can't evict someone due to COVID laws, and this one place is making him not break even on his whole portfolio. I know the COVID thing is an outlier, but I look on Zillow and you see a lot of these places have been posted as rentals before and then they lower it and lower it and now it's for sale, is it a lot harder to generate positive cash flow than people think? [link] [comments] |
| Finding unlisted homes or for sale by owner? Posted: 12 Apr 2021 12:06 PM PDT Me and a friend are looking for unlisted or homes for sale by owner for an investor to buy. I have never done this before and don't know what I'm doing but im giving it a try. Right now i am in the process of making flyers. Im not even sure what im going to do with the flyers yet. Any advice will help! [link] [comments] |
| Non-conforming units an issue? Posted: 12 Apr 2021 10:34 PM PDT I'm considering purchasing an apartment building that has 2 non-conforming units. They've been rented for years without issue, and don't have anything really strange about them (ceiling clearance, windows etc fine), other than they don't have separate water meters. The building was originally advertised as a 10 unit, but it turns out it's officially an 8 unit with 2 additional non-confirming units. Is this an issue I should be concerned with, and should I expect the price to reflect this (competitive market)? What should I ask during due diligence to understand the situation or investigate further? Thank you! [link] [comments] |
| Buying a house in the south NJ and Delaware area Posted: 12 Apr 2021 06:40 PM PDT Hey everyone! It seems like houses are VERY expensive compared to last year. I understand interest rates are low, but I see crappy houses going for almost double what its worth. How can I even buy something cheap these days? Does anyone have any pointers on how to go about? Do I wait for a new housing bubble collapse? Seems like that wont happen either [link] [comments] |
| Seller's Realtor Claims Seller has Dimentia and Doesn't Remember agreeing to sell. Posted: 12 Apr 2021 12:41 PM PDT NY state. Will try to be concise. I made an offer directly to the sellers realtor. He asked that I make the offer through his wife (an agent at the same brokerage). I did so. Less than 24 hours later I'm informed that the offer is accepted. Contract is sent to my attorney from the sellers attorney. Before it was fully executed, I went forward with the inspection. After the inspection, the seller apparently 'has dementia' and refuses to sign. I paid the inspection fee and the initial payment to my lawyer (~$1050) plus gas and plenty of time. Do I have any recourse against the realtors or the seller here? Lacking recourse, do I have any leverage? Thank you. [link] [comments] |
| Another 1031 Question - Trading into ownership of an LLC Posted: 12 Apr 2021 11:48 AM PDT Example Scenario:
Can I 1031 exchange those capital gains into owning a greater percentage of the strip mall? I.e. Can I exchange the proceeds by buying some of the strip mall ownership from my partner? Thanks [link] [comments] |
| Does anyone here buy delinquent tax certificates? Posted: 12 Apr 2021 05:44 PM PDT I'm looking to buy my first one. I have identified a property I'm interested in. Any tips before I pull the trigger? [link] [comments] |
| Is hiring a real estate management agency for one rental property worth it? Posted: 12 Apr 2021 07:07 AM PDT My parents had a rental agency handle all the tenant screening/rent collection, etc. when they were doing the single family house rental thing (although they still had quite a bit of usually friendly contact with their tenants, which I never really understood if they were paying for an agency wall). They swear up and down that using an agency is the way to go although they won't tell me how much it ate into their profits if any. Anyway, I'm now thinking about purchasing a 3/2 single family home and putting it up for rent. I'm not good with people at all, don't have much time on my hands (I work about 60 hours a week), and don't know anything about home repair. Obviously I don't have the time or skills to be a successful landlord on my own and I admit that. (I might not even go through with this plan.) My father, on the other hand, is great with people and also quite handy around the house, so he was more of a natural fit for this. Anyway, will hiring an agency eat into the profit margin if any thus making this already dicey proposition even less financially sound? [link] [comments] |
| HELOC for Investment Properties Posted: 12 Apr 2021 01:35 PM PDT Just as the title says, does anyone know of a lender who provides HELOCs for investment properties? I've only been able to find PenFed and I believe FIGURE.com offers it as well. Not sure about the credibility of FIGURE and I believe PenFed has good rep, but just wanted to see I was missing anyone. [link] [comments] |
| Future Rental - explain like Grandma Posted: 12 Apr 2021 04:58 PM PDT I want to purchase a property in about 14 months that will turn into a rental property. I will live in it for a year and will make upgrades and use the cash flow I would normally pay rent into an emergency fund. Okay now I am in the Orlando area. I am leaning towards a condo. Less responsibility for structure and more internal building. I am fine with putting 20% down. How do I structure it and get ready? How big should the emergency fund be before getting a second rental? What platform do I use to rent it and list it etc? D they provide tenant contract? If I am willing to do the work myself how do you determine if the upgrade is worth it for the long term or not? Do I go with rental after or Airbnb? What are the things you would do? What would you target etc? [link] [comments] |
| Building ADU on rental property Posted: 12 Apr 2021 08:28 PM PDT Not sure if this is the right sub for this, but here we go. Apologies for the length! Currently renting a 2 bedroom house with my girlfriend of 8 years and a roommate in a very high cost of living area in California (coastal beach town where the average cost of a home is $1M). It's a great deal for what we've got, but we really want to have our own place and have just started saving for a house (and investing) as we're more financially stable in our jobs. Even with that, we know it's a huge uphill battle with the competition and cost of houses in our area. Girlfriend's Dad is a general contractor in a big city. He came to visit and saw that we have an old, dilapidated detached garage out back with what was once some sort of a rental unit. The "shed" / rental unit was built around 1929 when the house was built, and the garage was added in 1940 (found some records online). The whole structure is in very bad shape - rotted wood, rats, caved in ceiling, unfinished floor/walls, and a roof that needs to be replaced. It's not habitable. Dad knows we're trying to save for a house, but understands how difficult the market is where we live and is trying to come up with creative ways to help. He primarily builds restaurants/commercial businesses, but has done ADU build-outs, and thinks the owners (who likely aren't well off financially and have owned the house for a long time) are missing out on cash. He pitched an idea to us to essentially reach out to the home owner directly, and offer to foot the money to completely scrap and rebuild the garage structure to be a fully approved (by the city and by the home owner) ADU with a single car garage in front, and a rental unit in back and upstairs. We would run plans by the home owner, and work out a contract that allows us to continue to live in the rental for 5 years, and use the new structure to let "family stay when they visit" but also slip in a line about using it as a vacation rental. Once we're out in 5 years, then the structure is theirs to rent and profit from. He believes any property owner sitting on a place like this (old house that needs work) would be open to this idea since they would spend none of their own money. His idea is to use shipping containers to build the garage/rental unit since he says they are significantly cheaper than a traditional build. He estimates this job at roughly $125,000 for everything - full build-out of three shipping containers, plus furniture. Full build time would be two months. He thinks we can rent out the unit as an AirBnb at a premium price ($200-250/night) and recoup our initial cost, then live rent free while we bank the profit off the rental while we save for a house. This idea sounds insane to me - as neither one of us is in a position to take out lines of credit in the $100K range. We have excellent credit and are just starting investing/saving. I see the entrepreneurial side of things, but it just makes me super uneasy to take on that kind of debt for a property we don't even own. His take is to get creative about it, and at least look into the possibility. If the owner says no, then at least you tried. All of this is to say this is a hypothetical situation where all pieces would work (permits, approval, rules/laws, etc.) Is this as crazy as I think it is? [link] [comments] |
| Posted: 12 Apr 2021 08:23 PM PDT Hey all, Do banks offer personal lines of credits that could be used for house investment purchases? I'm trying to see if there are options available that would grant me between $100-$200k in a personal LOC [link] [comments] |
| 1031 exchange and real estate agent Posted: 12 Apr 2021 08:20 PM PDT Can I use my regular agent and have someone else come in during the contract period and help me get it figured out? I'd like to use my agent bc she has a buyer before we've even listed it, but I'd also like to avoid taxes when I put it in the next property. This is a rental property I am selling to buy acreage as an investment. Texas. [link] [comments] |
| Will buying a "nice" house to rent reduce your chances of getting problem tenants? Posted: 12 Apr 2021 04:31 PM PDT Like a house in a middle class or upper middle class area? What are your thoughts on the matter? Thank you. [link] [comments] |
| Hmwhere How/Where to Find “Distressed” Properties Posted: 12 Apr 2021 08:13 PM PDT Hi! I'm in Boston. How do I find houses that are for sale specifically due to financial hardship? I want to buy the property with a "subject to" agreement and take over their payments! I just learned about it, maybe someone could guide me further? Thank you so much!! [link] [comments] |
| Mortgage advice needed, have 20% down payment but self employed Posted: 12 Apr 2021 05:58 PM PDT Hello, as stated I have saved some cash for a down payment on a property. I am having trouble securing a mortgage due to my self employment. I have lots of deductions due to being self employed. But I have decent income/cash flow for my business and have a good credit score (700). What else can I do besides get a co-signer? Any advice is appreciated thanks in advance. [link] [comments] |
| Cash out refinance - being asked what will use the funds for Posted: 12 Apr 2021 10:06 AM PDT I'm going through the process on a NQM, bank statement cash out refi and the lender is asking what the funds will be used for - anything to avoid in the response? We bought with all cash and now want to recoup capex to redeploy. [link] [comments] |
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