Real Estate Investing: Tenant Eviction Process |
- Tenant Eviction Process
- Where did you guys find a mentor?
- 14 Unit BRRR!
- Where is the best place to keep my money when saving up for a real estate investment
- I'm at the tail-end of a gap year from high school, have $10k in the bank, and I want to become a landlord.
- Anyone have a good 1031 exchange guide?
- I have a contract to purchase a Duplex in Arlington - can I sell that contract
- National Lender LTVs
- How do I get started?
- Have a large lump of equity from my home sale, worried about my first purchase in this market.
- Tax strategies to REI
- WWYD? Invest now or wait
- Does anyone Wholesale real estate in Puerto Rico ?
- 5/3/21 New Rules for Evictions Courtesy of the CFPB
- Anyone have experience with For Rent signs?
- Trustworthy and reputable
- Does it make sense?
- 3-flat deconversion (Chicago)
- Do you keep refinancing your rental properties to cash out until you die?
- After Prop 19 assessment transfer, can I convert the property to an investment without a re-assessment?
- Price Escalation Clauses
- I own a current rental property (home) tennants moving out and I want to lease it to myself
- Houses in flood zones in the US are currently overvalued by a total of $43.8 billion based on information in publicly available flood hazard maps, raising concerns about the stability of real estate markets as climate risks become more severe.
- Parents selling 750k and want to turn to rental properties.
- How to decide which Lender to go with?
| Posted: 01 May 2021 01:58 PM PDT Tenants paid at beginning of the corona. May it's a few days late. June a month late. By September it's a couple hundred bucks here and there I file for eviction in April. They call me one night and say. "We'll be out in 2 weeks. You don't need to move eviction further" The day before they ask for 3 more days. End of those 4 days. I call "oh. Something came up. 1 more day" So, I go over. Door unlocked. A lot of big stuff gone - furniture, table, 2 beds. A lot of stuff still there - 2 beds, TV. Trash everywhere. Literally. Like just random stuff. Like a school trash can ripped open with papers. Receipts. Fast food. Junk mail. Random boxes. I call and say. Tomorrow. 5pm. So, should I proceed with eviction just so no one else has to deal with this or let dead dogs lie and move on with life? [link] [comments] |
| Where did you guys find a mentor? Posted: 01 May 2021 04:48 PM PDT I'm finding it very difficult to find mentorship. My neighbor is actually a super successful investor, but he doesn't have time to coach. What did you guys do? [link] [comments] |
| Posted: 01 May 2021 05:11 PM PDT So a couple of months ago I bought a 14 unit for 375k and documented my numbers etc. Just heard back form the bank this week. I have 2 units down, but they're considering that into their underwriting. New building value between 502-540k with 75% LTV of 382-405k. They're doing it based on pro-forma numbers: 7k gross T-3 = 84k annualized Expense ratio of about 45% ~ 38k NOI = 46k Interest = 16k Free cash flow = 30k Getting a term sheet on Monday and stoked to pull my money out! Completely doable to BRRR a multifamily property! Market is the Midwest and I'm from out of state. Happy to answer any questions you may have! [link] [comments] |
| Where is the best place to keep my money when saving up for a real estate investment Posted: 01 May 2021 02:38 AM PDT |
| Posted: 01 May 2021 08:40 PM PDT I'm planning to use that money to buy my first car after learning to drive, cover some college expense when I start college this year (for accounting), and eventually getting my own place. I want to make at least 6 figures eventually when doing real estate. Where do I start? [link] [comments] |
| Anyone have a good 1031 exchange guide? Posted: 01 May 2021 07:47 AM PDT Looking to see if it makes sense to sell. I'd love an intro guide and curious if I need to roll over all the sale price or just proceeds? And can I combine 2 property sales into 1 1031? Thanks All [link] [comments] |
| I have a contract to purchase a Duplex in Arlington - can I sell that contract Posted: 01 May 2021 01:32 PM PDT I have a contract to buy a duplex in Arlngton, TX - I've given the builder a few thousand already - contract is in place. It's being built and will be delivered beginning of June. My question to you guys is - can I sell this contract to another buyer in case the builder won't let me out of it?? [link] [comments] |
| Posted: 01 May 2021 07:06 PM PDT What's the best LTV for cash out refinances on investment properties from national lenders? My market has been on a good upswing and and the best I have found is 65 with Loan Depot and 70% at a local CU. Has anyone gotten a higher LTV with a bigger bank or online lender? [link] [comments] |
| Posted: 01 May 2021 09:07 PM PDT I've been looking into this a lot lately. I really want to try this out as I've been wanting to do real estate. Does anyone have any tips/suggestions? On where or how to start? Thank you in advance!!! [link] [comments] |
| Have a large lump of equity from my home sale, worried about my first purchase in this market. Posted: 01 May 2021 02:43 PM PDT Recently sold my home and have about 500k in equity. Took advantage of the market timing and am currently in a rental to decide what to do moving forward as buying a home is incredibly inflated where I live. (Talking like 20%). I don't need some detailed answers as I'm somewhat decently versed in real estate, but what are you guys doing right now? I've only dabbled in the idea but never took action. Multi family apartments? Buy and hold single family homes? I understand it's a loaded question but Im more curious in what some of you smarter-than-I investors are doing in this current market? [link] [comments] |
| Posted: 01 May 2021 08:14 PM PDT |
| Posted: 01 May 2021 04:27 PM PDT A bit about my situation. I'm a 29yo Female that jointly owns an Up/Down duplex I bought with my fiancé 2.5 years ago. We live in the top half, and have been successful at keeping the bottom 2 bed 1 bath rented so far. I'm at a point now where I want to invest in another property. Ideally, the best scenario I can think of would be to find another up/down duplex, so we can save on property taxes and gain more units for more cash flow. However, my fiancé is a bit leery of buying another place because we still have lots of remodel work left to do on our current property. We have slowly been fixing it up and doing a lot of the work ourselves, but we both had full time jobs until recently and it's slow going, and slow learning. That is why we want to stay living where we are, and buy the next place as an investment (move in ready). My problem is that I don't think I have enough of a down payment to afford 20% on another Up/Down duplex in my city (probably need $60,000?) So I'm considering my other options. I have access to $40,000 right now, and another $15k that will be liquid in a year. I could afford to buy a 2 bed 2 bath condo, or a SFH right now. I am wondering if I should buy another place, or just wait till I can afford more? If I wait, it also means we will have completed enough renovations to move, rent our current place, and only have to put down 5% on a new one. If I wait 2.5 years, I could also refinance our mortgage to be 30 years, have lower monthly payments, and enough equity to get a HELOC. I know waiting sounds like a good idea at this point. I'm just antsy to continue expanding my real estate portfolio! I am also considering whether I should invest in another area for an Airbnb rental, or even find a mentor to help me break into the house flipping business. So. A lot of options. What would you do? [link] [comments] |
| Does anyone Wholesale real estate in Puerto Rico ? Posted: 01 May 2021 11:34 PM PDT If yes how saturated is it ? How much cents to the dollar are you paying for deals ? [link] [comments] |
| 5/3/21 New Rules for Evictions Courtesy of the CFPB Posted: 01 May 2021 05:18 PM PDT Strongly encourage you to watch this if you will be serving evictions in the near future. Heist, Weisse and Wolk, PA are notable eviction attorneys in Florida. [link] [comments] |
| Anyone have experience with For Rent signs? Posted: 01 May 2021 09:59 AM PDT I recently renovated a 1bed / 1 bath basement unit in a nice neighborhood in Kansas City, MO. It's been on Zillow for roughly 4 weeks now with no interest in it. I recently lowered the asking rent from $900 to $850 and now am considering putting up a FOR RENT sign in the yard although my Property Manager says they don't like to do that since it advertises empty units leading to break-ins. Does anyone have any opinions on the topic? I am doing a full renovation of the Fourplex building it resides in so I definitely hope to find a tenant for it soon. Couple pics for anyone curious [link] [comments] |
| Posted: 01 May 2021 10:34 PM PDT My mother invested in a few homes out of state and we live out of state. How do you all find trustworthy and reputable: agents, handy person's, and property managers when dealing with investments out of state. She's getting older and I know I'll be eventually taking over and am trying to dip my feet investing myself so I can learn and keep building wealth for my family and I. So I'm here trying to gain all the knowledge I can to become a successful investor... First by figuring out how to find/build myself a good team where my mother currently has investments. [link] [comments] |
| Posted: 01 May 2021 01:48 PM PDT Hi everyone. I'm doing a lot of reading and I'm just trying to get as many perspectives as possible on this. I've found a triplex and I've been approved for $700K using the VA loan (so 0 down, but I'll have closing costs). I've looked at the rent rolls and other documents and it would be a nice offset of the mortgage (so not cash flowing at all). In this case though, if I were to fully rent it (assuming no rent increase) after a year of occupancy, I would hover breaking even and paying out of pocket. For those who own multi family properties, is this good? Would I need it to appreciate to have it make sense? [link] [comments] |
| Posted: 01 May 2021 09:10 PM PDT Just got a 3-flat (3200sqft) in Roscoe Village under contract. Architect/PM said in his opinion deconverting it to a single family home would be around 450k-500k rehab. Seems high to me, fortunately the numbers still work. My question is what would be a weighted average for hold times? I'm guessing 9 months total but with permits and the city who knows. I've known a few investors who went and got the easy permits and stuck them in the window while they started to knock down some walls. And all before getting the building permit to save on the hold time. Anyone here have experience with these projects? [link] [comments] |
| Do you keep refinancing your rental properties to cash out until you die? Posted: 01 May 2021 10:05 AM PDT Do you keep refinancing your rental properties to cash out until you die? Then, estate sale after your death? Some people told me this is one of the strategy they take but what happens to the mortgages? I guess it doesn't matter since bank sell your house in the end? [link] [comments] |
| Posted: 01 May 2021 11:21 AM PDT I haven't been able to find an answer to this one. If I take advantage of the Prop 19 assessed value transfer for a primary residence and subsequently convert that property to an investment property, does that trigger a re-assessment? [link] [comments] |
| Posted: 01 May 2021 03:32 PM PDT Does anyone have any opinion on price escalation clauses and if they're a good/bad idea, or a non-factor? My wife and I are going to submit a bid on a single family house that we very much want to buy and so I'm thinking of including such a clause with the offer. [link] [comments] |
| I own a current rental property (home) tennants moving out and I want to lease it to myself Posted: 01 May 2021 06:46 PM PDT Hey Reddit Experts, Okay so the title says it all. I am still trying to do my own DD here and have heard every side of the spectrum "Absolutely not an option" and "for sure its a great idea!". That being said, does anyone have experience with this? Some backstory here. The home is located in central IL, it is mortgaged currently under my name but financed as an investment property. I am under the impression this is possible and I have interest in doing this for tax purposes. I am also under the impression I have to transfer this home into a separate LLC which I will do but I feel like there is more to it than just that. Anyone with experience I would love to hear your POV and also bend your ear about the whole thing. Sidenote: Can some of your landlords fill me in on some tax deductible expenses? I want my money to work for me as best possible wherever possible, even if I cannot lease the home to myself. I also have interest in doing some improvements to the home, new fence, possibly a back deck or concrete patio, update the kitchen and bathroom. I realize this post has newb written all over it and that is okay because I am! Bought the home in January and I am planning on moving in this July. Thank you all in advance! [link] [comments] |
| Posted: 01 May 2021 06:33 PM PDT |
| Parents selling 750k and want to turn to rental properties. Posted: 01 May 2021 08:49 AM PDT Hello all! I've been a lurker for years. Hoping one day to start my journey in RE investing but today's about my parents. My parents bought a home years ago, 540k left on the mortgage and are going to sell it for 750k (probably more but that's most likely the price after fees). My fathers work forces him to travel, but covers rent and food completely. My parents are planning to travel together for his work and buy rental properties with their profits from their home. They will have no living expenses so they think it's a great time to invest while they are gone. They will be doing this for 4-6 years. They do not want to go into the stock market. My question is, 1. Would it make more sense for them to just refi and rent out their property, then use the refi to buy another property and rent that out as well? The house is in a California suburb next to a school in a good spot. There are no current rentals in the entire area and there is high interest in living in the community so I think it would rent easily.
Appreciate any and all insight. Thank you! [link] [comments] |
| How to decide which Lender to go with? Posted: 01 May 2021 09:47 AM PDT Hello there, I am about to put an offer on an investment property and I am having trouble to decide which lender to go with. I have pre approval letters from all 3, but I know the rates they listed will be different by the time I go under contract. The rates differ by about .1% by lender. Is there a way for me to negotiate with the lender with the highest rate to get a better deal? I really like one of the three lenders due to his responsiveness and overall perceived honesty, but he also listed the highest rate of the three. Just trying to find a way to get the best deal. Any advice or questions to ask the lender is appreciated. [link] [comments] |
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