Real Estate Investing: Should I buy a vacant lot next to my home? |
- Should I buy a vacant lot next to my home?
- Will There Ever Be A Good Time For Someone Young To Start Investing In Real Estate Again?
- What are some creative ways you've used HELOCs?
- Insight for getting into flips
- Will my neighboring farm field being rezoned to "General Industrial" hurt my property value?
- Mortgage broker referral
- Purchasing a town home. Pros and cons for a first time home for a couple.
- Multi-Family ADU's [California]
- Wholesaling
- Capital gains exception on investment property question
- How to get into property investment [Complete Newbie - UK]
- Lot Line Adjustment and Split Parcels?
- How do I tell my agent I’m no longer interested in selling? And how do I compensate him for his time?
- Investing in Foreign Markets
- Buying vacant lot to sit on for forever home
- Looking for book recommendations to learn more about real estate
- I have a question for the UK real estate developers
- Growing our baby REI property into a big snowball
- Tenant-friendly localities are better?
- Rent out paid off house?
- Any seller finance experts out there willing to help me out
- What expenses are there in multis that are NOT in single families?
- How to educate myself on Zoning/building laws in Central Arizona; wanting to build a barndominium (pole barn/post-framing).
- Is it worth paying extra on the principal?
| Should I buy a vacant lot next to my home? Posted: 08 May 2021 01:32 PM PDT We purchased a home in 2018 in a small subdivision in a college town. The home was built in 1965, single owner, and flipped. When they flipped the house, they subdivided the lot into two ~0.5 acre lots. The lot next to us is empty and on a corner. It just went up for sale today, and the price isn't amazing, but probably appropriate based on how expensive everything is these days. I have some stocks I could sell to put towards buying this lot, but I wanted to get some better input on it. I think I could afford a loan, but wanted to see if buying it would be a good idea. I'd think it could help us insulate our property tax a little by holding it, and would be an "easy" foray into real estate. (I'm a first time, single home owner) Thanks in advance! [link] [comments] |
| Will There Ever Be A Good Time For Someone Young To Start Investing In Real Estate Again? Posted: 08 May 2021 05:14 PM PDT I am a 22 year old kid working on getting his career off the ground. For about 2 years now I've had hopes of real estate investing being the way that I achieve financial upper classmen status after I gain a sizable salary from my day job. But now, in 2021 with everything that happened because of covid and the housing affordability crisis, it seems as though my dreams have been crushed and that this will be a rich man's game from now on. But a lot of financial guru's don't seem to be too panicked about the future of real estate investing. Why is that? Will there ever be a good time for someone in the lower middle class - middle middle class to invest in real estate again? Will prices ever return to a somewhat normal state? Are there other ways that I don't know about that can make it still very possible for someone not very wealthy to achieve wealth through real estate even now? [link] [comments] |
| What are some creative ways you've used HELOCs? Posted: 08 May 2021 06:57 AM PDT Just a little curious about some of the ways HELOCS have been used to aid in your investing. I've been able to save a good chunk of cash and have $150k HELOC I just got, but this market has been near impossible to find my next deal. Has anyone used HELOCs creatively in their investments? What has worked? [link] [comments] |
| Insight for getting into flips Posted: 09 May 2021 01:30 AM PDT Hey all, stumbled upon this thread by happen-chance and thought I might as well tap into some of the knowledge that's available here! I'm looking into getting involved in flips. I'm reading online and trying to learn more about the processes and steps etc however, I'd love to here some pro-tips from people who have done flips before! I'd appreciate it greatly if someone/some people were able to provide some guidance, lay out some general frameworks etc. Thank you! [link] [comments] |
| Will my neighboring farm field being rezoned to "General Industrial" hurt my property value? Posted: 08 May 2021 09:26 PM PDT We have been considering selling our house for a few months but, haven't listed it yet. We received a certified letter in the mail from our city notifying us that the (nice and quietly) abandoned farm field behind our house is being rezoned to "General Industrial". We are assuming it will but, will it effect our property value if they rezone the field to industrial and start putting in manufacturing facilities? We love our house but, we are concerned this maybe a "poo or get off the pot" situation. [link] [comments] |
| Posted: 09 May 2021 12:37 AM PDT I am looking for a referral to a good mortgage broker in the greater seattle area. Please share if you are one or have references [link] [comments] |
| Purchasing a town home. Pros and cons for a first time home for a couple. Posted: 08 May 2021 08:37 PM PDT My wife and I are first time home buyers. We live in a terrible market place. Hardly any deals and cost of living is out of control. However, we did find we are able to probably purchase a town home. Yes- it has an hoa associated with it. What are peoples thoughts on town homes. Are they a waste of time for investing in? Should I just keep on renting? We've been in our area over seven years. We just now got to a place where we could invest, but then boom the whole scene got hot real quick for us to even start. [link] [comments] |
| Multi-Family ADU's [California] Posted: 09 May 2021 12:19 AM PDT I am a bit confused about the max amount of ADU's I can build. My County has not issued guidance and read that State law would prevail. There are 12 units on the property in 4 rows on 3 parcels, and each row has its own carport. I was told I could do an ADU and JADU combo. Does that mean I can do a total of 8 additional units? Was also told it's only 1 ADU per parcel? All in all very confused and would appreciate your help! [link] [comments] |
| Posted: 08 May 2021 12:38 PM PDT I'm sure this is a stupid question, but do wholesalers always make low ball, almost insulting offers? Meaning, is that the way it works, they call 100 homeowners and hope one is desperate and willing to take a terrible deal? Or, can it be done in a more reasonable way? [link] [comments] |
| Capital gains exception on investment property question Posted: 08 May 2021 11:00 PM PDT I just talked to my accountant and he told me that I need to sell my investment property to avoid the capital gains tax as I lived in the property 2 of the past 5 years. Need some advice on how to proceed. Context: I purchased the house for 180k in 2015. It is worth ~350k now. I moved out in December 2018. So I have until the end of 2021 to sell the property and get the exception on the capitol gains tax. I refinanced the home early last year as an investment property and the remaining loan amount is 200k. Does that exclude me from taking advantage of this? I am a new investor. I just have this property as an investment property and another home I bought last year that I live in. Looking to get more real estate to rent out in the near future. Thanks for the help! [link] [comments] |
| How to get into property investment [Complete Newbie - UK] Posted: 08 May 2021 07:12 PM PDT Hi All, Hope lockdown is treating everyone well. I'm just going to cut to the chase. I am someone who is in their early 20's, having graduated from uni managed to save some money. Anyhow I know my friends and peers all seem to be living their normal lifestyle with day to day consumer goods spending or just enjoying life in general. I guess the point I'm trying to make is, I've been one of those whom always been interested in making smart investments and don't think young age should be discouragement. I want to be able to make smart decisions early on so I can reap the rewards later on in life. Anyhow property investment is something I am fairly new on, I'm not going to give an endless list of reasons why I want to go into property investment (owning a property then maybe selling off to make profit). This is a field I want to start develop strong aptitude in and feel like it could be a wise decision. Now with someone with no background (newbie) in this area, also I'm not affluent what so ever, but I was wondering what is the best way of educating myself from the beginning... (I've seen tons of YouTube videos for this but not entirely sure if they highlight the foundational knowledge or if I'm missing anything) My background: I work in IT / FinTech Degree: Comp Sci Salary: 28-35k. (Entry Level) Saved up: 10-15k. Rest well ... I've invested into ETFs money I'm not going to touch Also I have money set aside in my savings - since working since 14 :). Anyhow what can my next steps be in diving into property investments, again I have no background or knowledge of property management. But would like to begin even if it is a small investment. IF I SOUND RIDICULOUS OR NAIVE PLEASE DO LET ME KNOW, ALTHOUGH I DONT WANT TO BE JUDGED. I JUST WANT TO BE SMARTER, SO I CAN HELP THOSE AROUND ME TO BECOMING SMARTER TOO. I'm not against materialistic things and I don't judge anyone if they are into it, but I just find I just don't give a f*** and making wise invesmtnets sounds more appealing to me than the next Gucci scarf [link] [comments] |
| Lot Line Adjustment and Split Parcels? Posted: 08 May 2021 10:56 PM PDT 30 years ago my parents purchased a multi-family property that originally included a single-family home. My parents are much older and don't remember a lot of the deals anymore. The sellers decided to make more cash by splitting off the home onto its own parcel and selling it. However, after looking at a Surveyor map from a few years ago, the parcel was split literally in the middle of the adjacent multi-family unit building that we own, but the building was built according to the tract map provided by the county. If that owner of the single-family residence wants, can they force us to tear down our building that is on "their property" or is it "grandfathered" in? The surveyor included a form for a property line adjustment, but I don't know if it's something that both parties have to agree to, in that case, it would be crazy for the homeowner to decide to get less property. The sellers to my parents even put every multifamily building on their own parcel and I don't see why. Is there any benefit to this? [link] [comments] |
| Posted: 08 May 2021 08:40 AM PDT My bf and I just broke up and I can't sell anymore. My bf is his nephew , so I don't want people to know and he doesn't want to talk his family yet. I'm not sure what to tell him for the reason I'm not selling. He's already taken pictures, booked showings and posted it on the site. [link] [comments] |
| Posted: 08 May 2021 05:32 PM PDT I have a pretty sizeable chunk of cash saved up and collecting dust in my bank, but real estate investing in my country (Canada) is a pretty big shit show at the moment. Does anyone here have experience buying, and renting out properties overseas? What are some resources I could look into to learn more about emerging foreign markets and all that? Thanks [link] [comments] |
| Buying vacant lot to sit on for forever home Posted: 08 May 2021 05:24 PM PDT Our family is growing, but our current home suits us plenty fine and will for a while (5-10 years). While I am very good about removing emotion from my RE investments, I'm guilty as the next guy about getting too attached when it comes to my primary. We've identified 2 subdivisions in our area that check all our boxes and both have some land available. Would it be reckless to purchase said land and just sit on? Don't see the value going up significantly and to be fair, this market may have it slightly overvalued. That said, the land will be 10-15% of the total cost of home build (using pre-Covid costs). Is this a waste of cash flow? Would like to lock in land as in same school district, which wouldn't require kids to change schools down road. Doubtful any comparable size lots would be available in future. Upgrading primary now is poor use of funds, which can be invested otherwise. [link] [comments] |
| Looking for book recommendations to learn more about real estate Posted: 08 May 2021 08:57 PM PDT I want to start expanding my knowledge in real estate and would love some book suggestions (or any courses, website, etc.) I live in Canada, so if there are any that cater specifically to the Canadian real estate market that would be great too! Thanks in advance. [link] [comments] |
| I have a question for the UK real estate developers Posted: 08 May 2021 08:56 PM PDT Say I have £10,000 and I use a residential mortgage to buy a house, and let's say the house is worth £100,000 but it is uninhabitable will I get a loan from the bank that will let me work on the house? Sorry if this is a stupid question, I'm just a 17 year old trying to figure out how mortgages work :) [link] [comments] |
| Growing our baby REI property into a big snowball Posted: 08 May 2021 11:19 AM PDT Hey folks! Last year while the pandemic had me Lysol wiping groceries, my investment partner and I purchased a 3 unit rental in Providence near Brown. 1 year has passed and the place is fully leased out to excellent tenants + cash flowing with a thiccness. We're looking to grow and would love some advice. Quick numbers on Property #1: When our HELOC is ready we plan on using it to subsidize Property #2 downpayment. Typically they want 25% on investment properties now. The HELOC repayment will lower overall cashflow of "our business" by about $400/mo, and this is where my brain stalls out. Should we plan on getting a second HELOC for Property #2 after renovation, even while we're paying down Property #1's HELOC? Do we roll Property #2's HELOC into Property #3 in the same fashion as we did #1 --> #2? Sounds like climbing a ladder of debt to me. What am I missing here? My partner and I both have solid jobs, planning to yeet 60k cash per year at this venture.. On Property#1 we spent ~110k cash on downpayment/repairs. We're not trust fund babies. We're even considering doing a pure flip on Property #2 just to get more cash to start with. Is there a step I'm missing? Looking to grow, it seems like buying + holding a 12 unit apartment building will be hard to get to without a major liquidity event. Any words of wisdom would touch my soul. Thanks :) [link] [comments] |
| Tenant-friendly localities are better? Posted: 08 May 2021 07:51 PM PDT Would you rather invest in a locality that currently has extreme tenant protections, or a locality that could enact extreme tenant protections in the future? I'm thinking the former is not so bad because the legislation would be priced into the property, or you would get a rent premium for dealing with the aggravation of diminished property rights. For the latter, you would enjoy freedoms of a landlord friendly locality, but there is a higher degree of risk if the locality enacts tenant friendly legislation. [link] [comments] |
| Posted: 08 May 2021 08:20 AM PDT Status: House 1.2M - Paid off I am considering renting out my house for ~ 4500/5000 a month. Buying a house right down the street (A little bigger). While it seems like it would make sense on paper, if I put down 350k, mortgage with taxes is around 4700. Rental cashflow should be around 3700. That seems like a good idea. bigger house, same neighborhood and get to keep my property and have someone else pay most of my mortgage, not to mention any deductions/write offs. The question is, is it a good idea? My savings rate is super high, and I have no debt. That is a nice place to be, but I would like a bigger house and find a way to "tap-in" to my paid off house equity. Thoughts/comments/questions? Edit: Rental calc shows 6.98%IRR, edit 2, removed info that was from a xpost. [link] [comments] |
| Any seller finance experts out there willing to help me out Posted: 08 May 2021 06:39 PM PDT Gotta seller willing to sell me a duplex on terms. I have a few options I want to provide, 0 10 and 20% down options. Various rates. ETC. But I'd love to have someone hear my game plan out. For all I know I'm doing this backwards. Anyone out there mind PMing me and we can discuss the deal and numbers? TIA!!! [link] [comments] |
| What expenses are there in multis that are NOT in single families? Posted: 08 May 2021 02:49 PM PDT Looking at my first non-sfh and wondering what expenses I need to account for that I normally wouldn't with my single fams. Being I am looking at a duplex, I figure $60 a month per unit for water. (Mine is a 2 bed, I know this varies) I figure around $800 for the year in lawncare (grass cutting, snow removal) Maybe 2-3% higher vacancy due to nature of apartments. Higher numbers for maitenance being double the water heaters and stuff? What else could I be missing? [link] [comments] |
| Posted: 08 May 2021 05:58 PM PDT Hello there! I live at home at plan to find work here initially (Los Angeles) to take advantage of the opportunity of free rent and maximize saving/investing so I can either buy a property (California/Arizona) or land to build on (more likely realistic cost wise to do in Arizona). Yes I understand the crazy market and lumber supplies/labor shortages. This plan is 2-4 years out if I were to build what I want. Assuming markets cool down. Now because I don't/most likely won't be working remote. If I were to go to Arizona I assume I'd have to have a decent commute to Central AZ for work (1 hour-ish one way). If anyone knows of how I can educate myself on learning the different Zoning/Residential ordinances. Along with important things to be aware of if I were to find a piece of land in that area. (soil type, removal of landscape to clear for build, septic, electrical, water) If anyone has links to readings, things to watch ect. I know I don't expect anywhere in Tempe, Scottsdale area to allow it but if there is any cities I should be focusing on would be great! Edit: also if anyone has known Barndominium kit suppliers that have done work in Arizona I'd appreciate to see there work! [link] [comments] |
| Is it worth paying extra on the principal? Posted: 08 May 2021 07:48 AM PDT Is it worth paying extra principal when the interest is a write-off anyways? [link] [comments] |
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