Real Estate Investing: If I refinance my primary residence to a lower rate (as a primary), am I required to "intend" to live there for another 12 months? |
- If I refinance my primary residence to a lower rate (as a primary), am I required to "intend" to live there for another 12 months?
- Who has used constructive loans before?
- Big house with tiny yard vs a small house with a big backyard.
- Need Help Trying to Convince Family to Sell Grandma's House to Me
- Where can I get the best deals for renovation items in Maryland? (Appliances, construction, etc...)
- How does dealing with an off market seller differ from an MLS deal? Any other options than to wholesale and seller finance?
- How do you find a realtor that specializes in investing?
- Buying/Selling Houses (Dayton/Columbus)
- Would you put in an offer on a property you haven't visited?
- My first deal
- What % are you paying Realtors for Listing your property?
- Refi investment property to buy personal house, tax implications.
- Is a 620sqft studio in Miami Beach facing intercostal a good investment?
- College Student Ready to Learn
- Crap, did I mess up my first investment/second home offer/agreement?
- Loan Options
- Rookie question DTI
- Tax deed Deal (Arkansas)
- Lease renewal question
- Sale of Triplex - Tax Planning
| Posted: 07 May 2021 07:25 PM PDT I live in my primary residence right now. It would be a great rental, if I refinanced with the current low rates which would drop my payment $200 a month. ... After I do this however, I'd want to immediately rent it out and purchase a new primary for myself to live in. I do not want to live in it for another 12 months. If I refinance my current primary (as a primary), immediately rent it out, and then purchase a new home 1 month later... Will I be able to find lenders that allow me to do this? [link] [comments] |
| Who has used constructive loans before? Posted: 07 May 2021 05:25 PM PDT Has anyone used this lender? Constructiveloans out of Chicago. 90/10 LTV for 12 months. Then refinance into a 30 year? What are your thoughts? [link] [comments] |
| Big house with tiny yard vs a small house with a big backyard. Posted: 07 May 2021 04:03 AM PDT I live in the DFW area in Texas, specifically Irving Tx. I've had this lot I've been wanting to build homes in. It's three individual lots that roughly measure 60X105. The area is nice and there are big house near the neighborhood but they do have backyards. I'm not sure if I should stick around the 2000sqft home or go for 2800 sqft with a tiny backyard. Let me know if anyone had any experiences with tiny backyards and how the price affects it. [link] [comments] |
| Need Help Trying to Convince Family to Sell Grandma's House to Me Posted: 07 May 2021 08:14 PM PDT The house is located in a beach city in Southern CA and is worth about $1 million. The house is old and needs work but is paid off. What would be the best argument to make to sell, or, transfer the house into my name (this would be best to take advantage of the property taxes with Prop 13). I hope this would also avoid fees associated with using an agent. This would actually be a rental property for me since I already have a primary and I have no plans of moving until 15-20 years in the future. I have about $110-120K to put down but I'm dealing with 6 children (including my father). What would be the best way to convince them to sell to me instead of putting it on the market? Any ideas would be greatly appreciated. Thanks [link] [comments] |
| Where can I get the best deals for renovation items in Maryland? (Appliances, construction, etc...) Posted: 07 May 2021 12:39 PM PDT I am starting a flip, and I would like to know if there is any place I can get good deals on renovation items. Thanks, [link] [comments] |
| Posted: 07 May 2021 08:44 PM PDT Called a driving for dollars lead the other day and ironically he was looking to sell another property, a turnkey duplex that he is about to finish up. He told me he was going to list it with a realtor for 215k. Comps justify it being listed for that price so I can't argue it. But he did tell me he would do 200k, since no realtor fees etc. Not necessarily a home run, but I think it would rent for 1300 a unit, maybe more. And if it is remodeled like he said it is, expenses should be relatively low and hassle free. Assuming he renovated it properly and his 200k offer is justifiable, what exactly are my options? Ideally I would love for the owner to seller finance the property to me. At the very least for 6 months as I am mid flip and cash is low. But something tells me he wants cash and to flip it. I can MAYBE try and wholesale it, but I don't like that route personally. So if he can't seller finance and I can't wholesale it, what other benefits are there to an off market deal? [link] [comments] |
| How do you find a realtor that specializes in investing? Posted: 07 May 2021 11:10 AM PDT |
| Buying/Selling Houses (Dayton/Columbus) Posted: 07 May 2021 05:53 PM PDT Anyone interested in buying/selling houses in the Dayton/Columbus area please slide through. Serious inquiries only [link] [comments] |
| Would you put in an offer on a property you haven't visited? Posted: 07 May 2021 08:09 AM PDT I have the opportunity to purchase some properties. One of them I learned about via a Zillow listing, which has since expired & its currently off the market. The other a realtor friend told me about. Someone hired him to be their selling agent & the house is not yet on the market. In both cases, I cannot visit the properties before submitting an offer (not sure why, tbh; I'll get more clarity on that when I meet up with my realtor friend this weekend). I *would* be able to see the properties after submitting an offer, and there would be a due diligence period where I could rescind the offer if anything made me uncomfortable. Thoughts? [link] [comments] |
| Posted: 07 May 2021 07:51 PM PDT Hey guys, I'm looking for my first deal. I've been studying Real Estate for what seems like my whole adult life but, now that I'm getting ready to possibly purchase, my brain is going to mush from anxiety. Is there some kind of check list that I could use to go down the list in evaluating a property? I know that the rents should be ~1% of the purchase price? Is there a usual "look for this" sort of investor list I can use to help me guide myself through this first purchase. I'm not a rich man but I've worked on my credit for long enough to get it pretty decent and I've saved up enough to put down 20% on a duplex. I just know that this first deal is very important because if it's a flop there won't be any second deal. Thanks in advance for any help or advice. [link] [comments] |
| What % are you paying Realtors for Listing your property? Posted: 07 May 2021 03:55 PM PDT I am getting ready to list a new SFH for sale. What % are you guys paying your listing agents? Any other suggestions / tips that I should add or remove from the deal? [link] [comments] |
| Refi investment property to buy personal house, tax implications. Posted: 07 May 2021 09:00 AM PDT Hi all. I am looking to refi a business property I have and I may use some of the funds for down payment on a personal house. Is there a way to avoid the tax implications of not being able to use the interest expense as a deduction because it went toward personal use later? [link] [comments] |
| Is a 620sqft studio in Miami Beach facing intercostal a good investment? Posted: 07 May 2021 02:45 PM PDT I'm trying to get my first real estate investment, and have been looking in Orlando or south Florida. I just recently found a decent studio facing Miami inter-coastal for $220k with a $480 HOA (1,525/mo with everything). Is this a good investment for both rental income and growth? It's a modern looking building but was built in 1968. Zillow rent estimate is 1,750. Because of the high HOA I can offer 200k which would bring total costs to 1,414/mo with a "profit" of $336. [link] [comments] |
| College Student Ready to Learn Posted: 07 May 2021 03:10 PM PDT Hey guys! I am a 20 year old college student who wants to get active in real estate investing. By the end of the summer I expect to have between 45-50k in total assets. I am curious what markets would be best if I am aiming for an 8-10% cap rate. Is it even possible if going after homes in the 150-225k price range? Any advice is much appreciated! Thanks! [link] [comments] |
| Crap, did I mess up my first investment/second home offer/agreement? Posted: 07 May 2021 11:15 AM PDT Last night, I put in an offer for 20% down and the rest on a mortgage. Was mistaken that I could easily change the 20% down after the offer is accept to 5% or 10% but was told by the loan officer and realtor that I cannot change now that we have mutual.
I guess this is a good first lesson as a newbie. [link] [comments] |
| Posted: 07 May 2021 01:16 PM PDT Hey everyone, Just recently discovered 203K Loans and have been doing some research on the pros and cons vs a HELOC. Just was curious as to what are some opinions on both . Please anything helps! Thanks [link] [comments] |
| Posted: 07 May 2021 12:49 PM PDT Hi everyone, Rookie question here but, how does one deal with "house hacking" and their DTI ratio? I'm thinking your debt would keep increasing but your job salary doesn't by much? Or is there some type of loophole I'm missing? [link] [comments] |
| Posted: 07 May 2021 12:35 PM PDT I found a property that, if not redeemed, will go on sale in a couple months. I'm highly interested and have 3X the initial asking price of the taxes. I'm concerned it may hit 5X to 10X the asking price. We're not talking large amounts, maybe 30,000.00. I've never used hard money or the like, and my credit isn't great. Any suggestions so I can increase the possibility of success? [link] [comments] |
| Posted: 07 May 2021 11:39 AM PDT Tenant is nearing the end of his lease and wants to renew. However he is Currently looking for a property to purchase. He does have an interest in purchasing our property, but I am not particularly interested in selling at this point. He would like to be able to terminate the lease early should he find a property to buy. Any suggestions for revising the lease going forward? [link] [comments] |
| Sale of Triplex - Tax Planning Posted: 07 May 2021 11:04 AM PDT I own a triplex in DC - a townhouse with three units. I live in the top, and the bottom two floors are let out as apartments. My space is approximately half the total square footage of the building. I inherited the building from my late wife in 2019. I was not on the deed at the time. An appraisal of the building was made by an outside party. Home sales since then have been pretty aggressive. At some point in the next 3-5 years I plan to sell. That leads me to ask some questions. [] My basis presumably will be the appraisal made in 2019. I thought the value was a bit low. Can that be appealed? Is this number filed with authorities? The city tax record for my home shows no sale price. [] How do capital gains exclusions apply when 50% of the property's square footage is rental? Does it mean that half of the gain applies under personal rules, and half is applied to a tax bill under rental property rules? Thanks in advance. [link] [comments] |
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