Real Estate Investing: Is it weird if I want to live in the basement as a landlord? |
- Is it weird if I want to live in the basement as a landlord?
- 30th birthday in 2 weeks. After 5 years of research and learning I finally got an offer accepted on a 4 unit multi family house hack.
- All-inclusive rentals.
- If you could buy a fraction of your Neighbor's house and sell it for profit or get a monthly dividend, would you?
- Inspection of vacant lot
- First Duplex FHA Loan
- Swapping with parents
- Equity structure for a partnership deal
- Is This Too Good to Be True?
- Hold Triple Net VS Selling
- Closing this week on a tenant occupied duplex, what do I need to prepare?
- How does a piggy back loan work ?
- LLC's and the tax implications thereof
- Buying house as an international immigrant
- How do you guys receive rent / set up your bank accounts?
- Going up on Realtor.com as pending?!
- Is now a good time to invest?
- selling commercial property from 1 llc to 2nd llc I own
- Best Countries to buy an apartment right now?
- Do banks give out business loans for real estate investing?
- Looking for feedback on buying and holding manufactured homes
- First Rental Property, Transferring if possible to an LLC Questions
- Investing in RE-adjacent businesses
- Contactless showings
| Is it weird if I want to live in the basement as a landlord? Posted: 19 May 2021 07:57 PM PDT I bought a property and the person in the basement is leaving so I thought I would go live there (currently living with parents) and so I can fix anything that goes wrong in the building. I'm just concerned about maybe a lack of light during the day and maybe noise? I'm doing this mostly because the basement is quite spatious and don't need anything bigger. Would also save money instead of buying a condo. [link] [comments] |
| Posted: 19 May 2021 09:07 AM PDT 5 years of listening to every audiobook on RE investment that I could find. Finally got an offer accepted in this crazy market. House hacking a 4 unit property with 3.5 percent down FHA loan. I feel genuinely excited and absolutely terrified at the same time. Turns out, I'm quickly learning that five years of research and learning doesn't mean jack shit! And I could fill up volumes with all the stuff I don't know. Finally feel like I just bought the key to my eventual freedom. No real point to this post. Just want to say I hope this giant terrified feeling in the pit of my stomach is normal! Hahah! [link] [comments] |
| Posted: 19 May 2021 05:42 AM PDT Hello all. I currently have 25 rentals and have found that when I offer all-inclusive (wifi, electricity, water, trash, heating/AC & lawn care), not only is my property better maintained, but I can charge a few hundred more and have never had issues with vacancy. note We do add a cap on utilities, kind of like phone companies do for data plans. This keeps tenants from abuse. [link] [comments] |
| Posted: 20 May 2021 12:33 AM PDT Hi! we are about to launch and on a mission to open the real estate market for the little guy, and we would love to hear your thoughts about this? [link] [comments] |
| Posted: 20 May 2021 12:33 AM PDT My wife and i are currently on the inspection phase of our purchase! The lot has a house that is in complete tear down condition. The house itself is from 1909 and has no permits, so it definitely has to be torn down. Also it still has a cess pool, so we will have to put a septic tank before any construction starts (we are in Hawaii, and that's mandatory, no way around it) I know that in normal house sales, people hire an inspector to check the condition of the house and everything else. But because there's no building to be inspected in my case, what is going to be inspected? Who should i contact for this inspection? [link] [comments] |
| Posted: 19 May 2021 11:12 PM PDT Thinking of closing on my first property 3.5% down on a FHA loan. Here's are the details:
Based on this information does this seem like a smart plan? Any thoughts would be appreciated. [link] [comments] |
| Posted: 19 May 2021 06:56 PM PDT Hi all, wanted your thoughts on an idea I had. I live with my parents, but am in a significantly better financial situation than they are. I have been interested in buying a small condo that suites them, and I living in our home now. They pay "my" mortgage and I pay "theirs." Any thoughts on this? It would allow them a significantly less monthly payment and allow me my own home to start growing. Thanks for your thoughts. [link] [comments] |
| Equity structure for a partnership deal Posted: 19 May 2021 08:21 PM PDT Hello all, New to real estate investing and am getting ready to pull the trigger in the next 1-2 months as soon as I find a property that meets my criteria, numbers wise. I am going into this with a partner and wanted to see how some of you have structured deals between you and your partner equity wise. As of right now we'd both be going into the deal 50/50 in terms of dollars we are putting up but I am the one finding the deal, running the numbers, hiring the property manager, finding the lender etc. Essentially, the only thing my partner is bringing to the table at the moment, is money. I think it's safe to say my time and these resources I'm bringing to the table is worth something but I am not sure how much it is in this case. Should I have 60% equity? 65%? 55%? Should it be 50/50? It is hard to put a number on it, but I am young and feel I'd be doing this due diligence and work regardless of having a partner or not. So with that being said I'm almost justifying 50/50 due to the fact that I'd be putting less capital up which ultimately mitigates my risk. Would love to hear any thoughts, opinions or ideas on the subject. [link] [comments] |
| Posted: 19 May 2021 11:07 PM PDT Across the street from my multi-family buildings (paid off) is vacant land zoned Multi-Family, rough estimate per sq foot of lot/ county minimum to build units = 7 + 3 ADU's = 10. Next to that a SFH (zoned Multi), the owner recently died, can build 5 units + 3 ADU's = 8 Total. Vacant Landowner willing to sell to me for $100K, I am trying to get him to the $75K mark. Heirs of the recently deceased person have no income and have been slowly selling off possessions but will likely sell for $180/$200K. If I rent to Section 8/Housing Choice at the max voucher amount, my revenue projections are $300K/year. I will be nearing almost $800K in cash on hand by December. RISKS - I might not get top Sec 8 dollars, but with their annual increase and estimated construction time, the voucher amount may be even higher by then, and there is an extreme level of demand for units. I may also be forced to build smaller units due to setbacks/parking requirements etc. With the drought declaration, the private utilities might have more regulations for development, including fire suppression tanks, extra deep wells, extra-large septic, etc. Construction Costs are unknown, but rising every minute. The market may be down by the time we close escrow, and I can always hold and build in small portions. I keep second-guessing myself with this play - scarred by nearly having to declare bankruptcy 6 years ago. Am I getting in my own way of an incredible deal? Or is this just a wild fantasy? [link] [comments] |
| Posted: 19 May 2021 04:51 PM PDT Hi guys! Apologies if this isn't a typical post, I'm new to both reddit and real estate. A relative of mine has asked me for my advice regarding a property situation he finds himself in, and I thought this might be the place to go to. This relative outright owns a triple net property netting over a hundred thousand dollars annually in the urban center of a major US city. Currently, a developer who owns the adjacent properties is offering a roughly equivalent amount annually for a LONG TERM land lease. My concern is that the area is being up-zoned and due to massive investment by developers and city infrastructure, the area seems slated to appreciate significantly over the next 10-15 years. I would personally like to maintain the property as is as a triple net property (and probably upgrade it in the future), but the owner is relatively risk averse and likes the idea of cashing checks with 0 obligations. A concern of the owner's is that if the property is developed around, the value of the property will diminish. Are there anything we should look for as we navigate the situation? [link] [comments] |
| Closing this week on a tenant occupied duplex, what do I need to prepare? Posted: 19 May 2021 02:01 PM PDT So excited to get my first deal under my belt! Both sides are occupied with paying tenants, one side is leased until July and the other is a long term month to month. So far I have:
Have I missed anything major? [link] [comments] |
| How does a piggy back loan work ? Posted: 19 May 2021 09:04 PM PDT I understand that you get 80% financing and put 10% down and then heloc the 10%. But what I dont get is that at that point you only have 10% equity and who will lend 10% when you have only 10% equity ? [link] [comments] |
| LLC's and the tax implications thereof Posted: 19 May 2021 09:44 AM PDT LLC's are NOT tax entities! Read the comments for full elucidation. U/thefourthchipmunk writes this over in the Taxpros subreddit: https://old.reddit.com/r/taxpros/comments/n2bact/mini_rant_i_dont_ever_want_to_hear_the_word_llc/
[link] [comments] |
| Buying house as an international immigrant Posted: 19 May 2021 07:41 PM PDT I'm an international immigrant and here in Canada on my work permit. Government websites say you can buy house in 5% down but when I got my pre approval they said you need to put 10% on my own. Just imagine , if you buy house that worth $300,000 you have to put $30,000 at front and closing cost. That's not even end of the story. After you buy house , you buy so many little little things for house which will cost few thousand bucks as well. Monthly cost, car payment, property taxes, insurance, any repairs and maintenance and every day basic expenses. How anyone can come up that amount of cash at front . That's hard. [link] [comments] |
| How do you guys receive rent / set up your bank accounts? Posted: 19 May 2021 02:02 PM PDT I usually have tenants Zelle my bank account, and it's been working fine. I just purchased another property, and I can't co-mingle funds anymore. Do you guys have a different bank account for each property? And if so, is it separated by bank, or how do you structure it (Zelle doesn't let different rents go into different accounts under the same login)? How do you guys deal with this? [link] [comments] |
| Going up on Realtor.com as pending?! Posted: 19 May 2021 05:38 PM PDT Is this legal? Is there some sort of issue with this happening? I've been seeing this a lot and this doesn't allow other people the opportunity to see the property if it automatically goes online as pending. [link] [comments] |
| Posted: 19 May 2021 09:20 AM PDT With inflation growing each day and the housing market continuing to explode, is not a good time to buy a property to invest in? Or would it be better to wait it out and see what happens in the next 6-12 months? [link] [comments] |
| selling commercial property from 1 llc to 2nd llc I own Posted: 19 May 2021 02:50 PM PDT is it possible for me to "sell" a commercial property I own in LLC #1 to another corp I own =LLC#2 (both owned 50% with spouse) ? I would do a 1031 exchange for LLC1 with a cash out refinance and use the proceeds for a down payment on a new property, then LLC#2 would now own the original commercial property and have its own cost segregated depreciation schedule of the original property but owned by llc #2? [link] [comments] |
| Best Countries to buy an apartment right now? Posted: 19 May 2021 02:17 PM PDT I come from the EU and would like to buy an apartment and rent it out later. Little bureaucracy and clear tax structure are important for me. Meanwhile I see the following variants: - UAE I would like to start with about $100k. Does that even make sense with that amount? Or is it a bit too small? What are the best countries to invest in right now? [link] [comments] |
| Do banks give out business loans for real estate investing? Posted: 19 May 2021 12:08 PM PDT Title says it all. I want to jumpstart my real estate investing business (flipping,whole sale) do bank typically give out loans for this kind of business? If so, I wanted to acquire let's say $100,000 is this doable? Credit is good, I also have an LLC that I've used for real estate before [link] [comments] |
| Looking for feedback on buying and holding manufactured homes Posted: 19 May 2021 11:50 AM PDT I am in OK and looking at buying my first investment property to hold as a rental. With the market the way it is, a manufactured home is more in my price range right now. I looked at a manufactured home today that is in a community and already under their management, so theoretically all I have to do is buy it and put a tenant in it and they do the rest. I'm running the numbers and waiting on an insurance quote, but I would live some feedback from people who have gone this route. I am meeting with the property sales manager again in the morning to finalize the deal--if I choose to go through with it. I'm also working on a list of vital questions to ask to make sure I've covered all the bases. Any feedback or advice would be much appreciated. [link] [comments] |
| First Rental Property, Transferring if possible to an LLC Questions Posted: 19 May 2021 07:46 AM PDT Hey Everyone, I have been reading a bunch in this subreddit about LLCs and the pros and cons of them. I just went under contract with my first rental and I have a question on if its possible to use an LLC at this point. Background: Loan is in my name and is through Chase Bank The Title to the house is in my wife and I's name My only rental home Goal: Separate my personal assets from this home via an LLC Questions: 1.) If I transfer the title via lets just say a quitclaim deed to the LLC, but the loan is still in my name will this separate the assets? 2.) If I do transfer the title, and what I have read is it does... Could it cause my load to need to be closed and paid back in full? 3.) Is there anyway other methods to transfer this asset into the LLC? 4.) Would a very large insurance policy on my rental be enough? [link] [comments] |
| Investing in RE-adjacent businesses Posted: 19 May 2021 11:30 AM PDT Hey all. I own 6 properties and am bringing others under management, and I plan to start expanding significantly soon. I've had a lawn guy that I've used for years and am wondering if anyone out there has ever invested in/partnered with the people they already have business relationships with? Obviously, it'll eventually make sense to consider moving landscaping/lawn care in house, but on the other hand, partnering up with someone who I've worked with for years seems like a possibility worth investigating. I have a non-trivial management and web development background, and I really want to dip my toes further into entrepreneurship and help build a business but don't want to start from scratch. Anyone have experience with this or similar investing in RE-related businesses? Obviously, I know if they were even amenable to it, I'd be looking at large capital outlays and getting my hands dirty, but I want to give this some serious thought at the least. [link] [comments] |
| Posted: 19 May 2021 11:05 AM PDT Currently I have a house in another state which needs rehabbing that we are selling as a FSBO. I'm the lender (self directed IRA investor) and we took it back after the borrower failed. I had a property preservation field rep set up a lockbox with my intention to do contactless showings where the person who wants to tour the property gives me their contact info and a copy of their drivers license so I can see they're legit. Some people are loathe to share anything about themselves before getting inside of the property. One interested person said she felt skittish about sharing her drivers license, and a few others who were previously intensely interested suddenly weren't. I see developers and other corporations using this method, but I am either doing it wrong or I've saved myself grief by having some folks 'deselect' themselves from my search for a buyer. What do you think? [link] [comments] |
| You are subscribed to email updates from Real Estate Investing. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment