Real Estate Investing: Where Would You Invest If You Had 200K in Cash? |
- Where Would You Invest If You Had 200K in Cash?
- Why do people sell or flip homes instead of keeping as rentals and getting a heloc?
- Does it make sense to pay off mortgage early?
- Cozy acquired and moved to Apartments.com
- Wanting to convert my garage to an apartment
- Good real estate podcast?
- Buying vs Building a house
- Turning unused land into a cashflowing asset using air bnb? Anyone have any advice or experience?
- Is real estate investing for me?
- Paying above market price because rent is above the price?
- investor looking for loans that arent based on personal income
- Where to find data on housing starts/ supply?
- I am in need of a special calculation tool
- How do you approach a seller for Owner financing ?
- Can i apply for a HELOC and a conventional loan for an investment property from the same lender ?
- Current joke post got me thinking and wanted input
- Too Good to be True? [with Photo Link]
- Some advice for a newbie
- Well Shared By 3 Neighbors - What do I do?
- Found a potential renter who would move in around August - Can I request something (advanced rent, security deposit, etc.) in the lease that says should she back out w/o at least a month noticed, we keep the $?
- 40% of my mortgage payments are going to interest
- 1031 Cap Gains for Tax Calculation
- In your opinion, what makes a good vs. bad property manager?
- <30 year mortgage on rental?
| Where Would You Invest If You Had 200K in Cash? Posted: 17 May 2021 06:56 PM PDT Now, I'm not saying I have 200K in cash, but let's say hypothetically there's 200K sitting in your normal bank account. Where would you invest in real estate if you had this lump sum of cash and you were looking to implement a buy and hold strategy? [link] [comments] |
| Why do people sell or flip homes instead of keeping as rentals and getting a heloc? Posted: 17 May 2021 04:49 AM PDT Like title states. Working on a house at the moment, and had intentions to rent it out eventually. But seeing how prices have gone up I'm tempted to sell for a pretty penny. But then I think, I can sell for about 94% of its value (lose 6% on realtor fees etc) and taxes of course. OR I could get a heloc for 90% of the value. Keeping me with a cash flowing asset AND the funds I want. Why would I sell over a heloc? [link] [comments] |
| Does it make sense to pay off mortgage early? Posted: 17 May 2021 06:16 PM PDT Generally my understanding of paying off a mortgage early is financially a bad idea. My background is stock trading which I am confident I could earn a higher return than the amount of interest I am paying, probably significantly. So I am sure there are tons of better places that money could go to earn you a higher return than you're paying an interest. I guess the reason I ask this is because I would feel more comfortable paying off and additional 20% of my principal and then just going on monthly payments from there. Right now I Still owe 80% LTV so my interest payments are at their highest point. [link] [comments] |
| Cozy acquired and moved to Apartments.com Posted: 17 May 2021 11:21 AM PDT The rent collection / property management start-up Cozy.co that has been loved by smaller landlords has been acquired by Apartments.com and all accounts have been transferred to their platform. Is anyone else concerned about this? I've been using Cozy for years to collect rent from multiple tenants. It is orders of magnitude superior to what I was doing previously (each tenant paid directly via one of many phone apps, and logged payments manually into Excel). It's been very convenient to have everything in one place, all the time, and the service is completely FREE for both tenants and landlords to use. My tenants also prefer it. As anyone else who uses Cozy will have discovered, I received an e-mail that Cozy was acquired by Apartments.com, and all of my accounts have been moved to their system. I am concerned that what was once a wonderful start-up service for smaller landlords will be taken apart and monetized, requiring a "premium upgrade" subscription to access formerly free services, and the once-simple and pleasant UI will be flooded with ads and overshadowed by their other services such as rental listings. I just logged in to my transferred account, and already the first thing I see is an ad to upgrade to their premium listing services. I do not list with Apartments.com, so I don't need to upgrade, but this is pretty dark foreshadowing. Anyone else concerned, or have any more information on this transition to share? Other services similar to Cozy that anyone could recommend if this acquisition doesn't go well would also be greatly appreciated. [link] [comments] |
| Wanting to convert my garage to an apartment Posted: 17 May 2021 08:41 PM PDT Hi guys, I'm wanting to convert my garage to an apartment and rent it out. I have a big lot so I can put a shed up easily elsewhere. I live in California and I never have nor ever will park in my garage. My garage is 440 sf. There is plumbing and electrical already in it. No insulation, windows, fans etc. I will need to get more electrical ran and upgrade my breaker box for it to handle a kitchen/washer dryer. Anyway, considering the structure is already there my main costs will be permits, bathroom install, finishinggarage wall and adding window, etc. I am very handy and will be able to do most of the work. I have heard that California can charge a fortune for adu permits, so that is still unknown. I hope to budget for around 20k which would give me a bit over a year roi at $1500 rent. Just wanted to casually chat about this as I don't have many people I know who to do so with! Thanks :) [link] [comments] |
| Posted: 17 May 2021 12:41 PM PDT Need recommendations for good real estate / real estate investing podcast besides bigger pockets even tho I really like bigger pockets but it's very mainstream now [link] [comments] |
| Posted: 17 May 2021 08:26 PM PDT Newbie here. When does it make sense to build vs buy a house? In my area, there aren't any 4-plexes for sale so I can't do any house hacking but what if I built a house? [link] [comments] |
| Turning unused land into a cashflowing asset using air bnb? Anyone have any advice or experience? Posted: 17 May 2021 07:07 PM PDT Ok guys, so my family has had a 'farm house" on 70 some odd acres for generations. This property is essentially unused aside from rented farmhouse and the occasional hunter who asks to hunt the area. The property is primarily woods, has a pond and a roughly 10 acre farmable field. My goal is to clear a small section of woods, pay the local Amish to build me a yurt or a small cabin on a raised platform and add some simple amenities (wood fired hot tub maybe?) The property is within 1.5hrs of Pittsburgh and I think I maybe able to bring in the city crowd with the off gridish feel of a woods yurt near a pond. Seems like this is somewhat common on air bnb, don't think I'll have problems there Ive been in touch with the county's "zoning officer" but it's just a friendly lady who truly has no idea anything about what I would be required to do for this since she hasn't come into this before. So this is still a work in progress, but I think I can do it legally and somewhat inexpensively (hopefully under 10k) Anyone have any experience with something like this? Do you think it's a viable option to start getting some passive income off this property? Am I way off base here and just need to save up for an additional house on the property? Thanks all ! [link] [comments] |
| Is real estate investing for me? Posted: 17 May 2021 05:29 PM PDT 27F married with a 7 month old. I'm contemplating quitting my full time job as a programmer to stay home with my baby. I'm thinking of things I can do that are more passive to still make some income or grow our nest egg. We currently own a 3 bed/2 bath house that we still have a mortgage on as well as 12 acres (also with a mortgage) of undeveloped land beside my grandparents 17 acres. The dream is to one day build a house on the land. For the moment though, I'm trying to decide how to use our assets to our advantage. We are considering selling our house since the market is so hot and moving in with my parents. We would have a chunk of money that we could use to finance building or to possibly buy a rental property (once prices come down) or both if we are frugal. Every time I bring up renting to my family I get the standard comments of "what if you get bad renters and you have to repair your house" and just general hesitancy. I honestly feel like this is a lame excuse to not rent. I'm willing to educate myself, screen renters, and stay organized and think this would be a great way to make some additional money while staying at home as well as build long term wealth. Also I live in a pretty transient college and military town in the southeast so rentals are popular here. Would anyone have any advice on if this is feasible for part time work for a future stay at home mom? Also, if we could find a way to monetize our property while waiting to build that would be awesome as well. I have considered putting in utilities and renting to someone or building something to rent on Airbnb. [link] [comments] |
| Paying above market price because rent is above the price? Posted: 17 May 2021 09:28 PM PDT Hi all, I am about to make an offer in a home. The aue of this home is higher than the average for the area however, it already has a tenant that is paying much higher rent than average, plus utilities. The lease expires in December 2021. The numbers make sense to me. Good cashflow. I guess I cant see the property until I make am offer but from the photos it looks really nice. Is it reasonable to think I am making a good investment? My gut is telling me YES. [link] [comments] |
| investor looking for loans that arent based on personal income Posted: 17 May 2021 09:25 PM PDT Hello, I am a Younger investor that has worked in my family real estate business for the last couple of years, but I am looking to get into purchasing my own property but running into issues due to semi-changing hours at work that banks will not finance without more history. so I was wondering what loan types you guys recommend that don't rely on personal income and focus on property income. I was looking at stuff such as maybe Non-QM loans or hard money lenders just not sure if that's the best way to go and the best lenders that you guys use. I am looking at some properties that go for 55-80 thousand and rent from 800-1500. I can almost pay cash for them and could for some of the lower-priced ones but I don't want to empty the majority of my reserves but i can do whatever downpayment required by the lender. Let me know what you guys recommend and thanks for the help. Anyone that refers me to someone that i get a loan with i will pay a 1% commission to them for the purchase of my first property in a payment method of their choice.(PayPal,cash app,check,cash etc) [link] [comments] |
| Where to find data on housing starts/ supply? Posted: 17 May 2021 06:57 PM PDT |
| I am in need of a special calculation tool Posted: 18 May 2021 12:35 AM PDT Hi, this is my first post here so forgive me if I don't do everything right. I recently purchased my first apartment in Pamplona Spain. It was built in 1993 so we will definitely be updating/remodeling the apartment. I am wanting to find (If this even exists) a calculation tool that tells me if I make xyz renovation I will potentially increase my apartment by x value? I am just trying to avoid spending 50,000 euros on a remodel only to find that I increased the apartment value only by 10,000. (just a made up example) Thanks. [link] [comments] |
| How do you approach a seller for Owner financing ? Posted: 17 May 2021 06:33 PM PDT Typically the Seller has an agent who the buyer has to go through if they want to bid on the property. So we never get to approach the seller. Also when the seller has found an agent, they will just direct you to the agent. How do you go about finding sellers willing to do owner financing ? [link] [comments] |
| Can i apply for a HELOC and a conventional loan for an investment property from the same lender ? Posted: 17 May 2021 07:50 PM PDT I am looking to buy my first investment property (to be turned into a short term rental) and I got pre approved from a local lender. I am looking to use the equity in my home to pay towards the downpayment . I initially was going to use a local credit union for HELOC (they have really good rates) and I am wondering if it makes sense to just apply and get a conventional loan from them as well vs sticking to the original local lender(they have recent reviews about delays in closing and lack of communication which are making me somewhat hesitant to use them as the mortgage lender). Would it be ok to open two loan applications from the same credit union ? Any advice would be appreciated. [link] [comments] |
| Current joke post got me thinking and wanted input Posted: 17 May 2021 11:26 PM PDT Got myself in a great position despite 9 months of pure hustle (whoever needs to hear it - you will get it done). Hoping to get advice on the best way you would proceed had you been given this opportunity. Current status - bought house in Midwest Aug 2020 right before the massive blowup for $260k right in the heart of the most up and coming neighborhood. Made it a 4bd 1 bath into a pretty amazing 3 bd 3 full bath. Like I said, perfect part of town and most sought after size. Now, houses are going for $450k. Our realtor thinks easily ours could be $430-$450 due to the INSANITY. Current FHA loan for 2.85% with roughly $1600/mo. This place could easily rent for$2800. What is our best portfolio option given impending inflation.
Any other thoughts? [link] [comments] |
| Too Good to be True? [with Photo Link] Posted: 17 May 2021 06:19 PM PDT Hi all, I am making this post to face some reality from experienced investors. My focus will be foreign country (where I was born) where the capital city [center] averages about $40,000 to $60,000 for 450-650 square feet studio - 1 bdr apartment. I spoke to one of my friends who recently bought an apartment for $45,000 and renting at $400 / month (kind of a studio apt). So, I have a more reserved 7% CAP rate. LINK to spreadsheet: https://imgur.com/a/BIj1XUO What could I be missing from my calculations? Am I too optimistic about future expenses? Really appreciate any insight! [link] [comments] |
| Posted: 17 May 2021 06:40 PM PDT So I am looking to get into real estate investing and wanted the hive mind to weigh in on our plan The basics, DINK household in a not a low cost of living area. We make about 125k combined. Only debts that we currently have are about 7 k in credit card debt and one car note, owe a little over 9 k. Also have a home that we own free and clear at this time. We recently received a windfall of about 190 k. We are thinking of buying a property in a very good neighborhood, better than we are living in now. It is a 3 Plex with 2 two bed one bath apartments in decent shape, need some paint and maybe a new stove in one but have recently been active on the market. The other unit is twice as big and needs work, the basics are there but floor has been pulled up and will need a little bit of everything. Our plan would be to live in the large unit, fix it up obviously, and possibly short term rent the other two units, we live in a tourist town and the location is wonderful for this, and maybe live in one of the units part time while we do intensive work on the large unit. The property is over 700k and our windfall would cover 25 percent down. The money for renovation of the large unit would come from a line of credit on our paid off home. Roughly a 275k line of credi which I hope does not all be need to be used. Rough numbers on the units for long term rental would be about 1500 a month, a number one of them was rented for last year for a long term rental and ball park of 200 a night for short term rental with a capacity of 15 or so nights a month ( tourist town) In this plan we would put our home up for long term rental at approx 1800-2k a month. By my math our note for the new place would be approx 3200. If this home were renovated with the parking that it has, very rare in this area comparisons look to be 1.2-2 million dollars. My question to you all is as a handy first timer,( I feel comfortable making repairs, painting, sheet rock etc) and someone who is wary going "all in" on the debt this deal would bring, would you do it? Are there major cons I might be missing? I do realize I would be living in a construction zone some of the time and trying my hand at short term landlord, which I am a little excited about. [link] [comments] |
| Well Shared By 3 Neighbors - What do I do? Posted: 17 May 2021 06:19 PM PDT I am interested in buying vacant land that was once part of a larger parcel but has been split up and SFH has been built on every parcel except this one. The current owner says that the well on the vacant land is his, and he wanted to charge each neighboring house for usage but the County told him he would have to pay permit fees and add filtration, etc. THERE ARE NO WRITTEN CONTRACTS OR EASEMENTS ON THE TITLE. Also, there is a MAJOR drought in my area and multiple wells are going dry. The closest neighbor is paying the electric bill for the well and maintaining it. I want to build a multi-family complex on it and cannot have the added strain of 3 SFH's on my system (Per the State it would put me over the threshold of persons served by a single water system and I would have to pay $25K every two years in fees.) Do I as the new buyer face legal headwinds if I no longer want the neighbors using the well? Should I serve them via the court with a cease and desist and shut them off immediately after acquiring the land so their usage isn't grandfathered in? I definitely don't want them to force me to pay for repairs and bills once my units are built. There are liabilities if one of them gets sick with lead or bacteria from the water from my well. I can probably ask them if they will split the bill once the units are built but I REALLY don't want to have to go door to door to collect every month. [link] [comments] |
| Posted: 17 May 2021 02:32 PM PDT Hello, realestateinvesting! Hope you're all safe. I recently bought a 2 bed 2 bath condo that my partner and I are moving into soon, and found someone we think we'll get along with that checks all the boxes (and vice versa for her!). We're excited for her to move in (as a tenant? lodger? both?), but the catch is she'd like to move in August. Unfortunately, that's 3 months from now, and we know a lot can happen between now and then. While we want to be understanding if she decides not to want to move in, we also want to be fair to us due to pausing our roommate search for that whole period of time. When I send her the lease, I'd like to have something say that should she change her mind, as long as she tells us no later than June 30th, she can have her $ back. However, if it's after that, we would keep the $. I was wondering if anyone has been in a similar situation and if so, how you would suggest I go about this? Is there a template you can share, or wording I can use (such as, would this be "first months rent"? a "security deposit"? would this be separate from the deposit that would be returned to her at the end of our time together given the room is all good?)? I'm trying to look up the legality of this as well and so far it seems okay as long as I explain it in the lease. Any and all help is appreciated! Let me know if there are any questions. Thank you Also, forgive me if this is the incorrect flair! [link] [comments] |
| 40% of my mortgage payments are going to interest Posted: 17 May 2021 06:05 PM PDT I just got my first mortgage bill from my mortgage company and was surprised when I saw the breakdown of where my payments went and the majority was going to interest. Only 25% of my payment went to principle. 40% went to interest & the rest went to escrow I could have Calculated this before but it's kind of financially shocking when I see that. Does the interest I pay each month for my mortgage go down as I make payments lowering my principal amount? For example if I paid off 30% of my mortgage today would that raise the amount that was being paid into principle considering the amount I owe has been lessened significantly? Does this ever make sense to do? I know generally people say don't pay off your mortgage early as you can get better returns elsewhere. Personally I wouldn't mind paying extra each month If it could be financially justified. [link] [comments] |
| 1031 Cap Gains for Tax Calculation Posted: 17 May 2021 11:59 AM PDT If you roll one property into another using a 1031 exchange, and then eventually sell the second property - how is the tax situation on the second property calculated. For example, you owned Property A for a few years and the property value gained $100k. You sold it and used a 1031 to invest the full "adjusted sales price" into Property B. If property B now escalates $100k in property value and you want to cash out - is the capital gain on $100k (just property B) or $200k (the total from property A & B together)? Do you ever pay back the depreciation on property A? I am not looking to sell now, but am "upgrading" some property that we bought in 2011 - we got a steal at the time and have a big gain amount. I am trying to understand what our future tax scenarios might be as we determine whether to just go from one property to another or go from one property and split it into two properties. Eventually we may need to cash out to pay for retirement. [link] [comments] |
| In your opinion, what makes a good vs. bad property manager? Posted: 17 May 2021 07:09 AM PDT From single-family, small multi-family, Airbnb's, to apartment management I want to hear it‼️ [link] [comments] |
| Posted: 17 May 2021 08:03 AM PDT Hi all. Long time listener, first time caller. Brand new to real estate but pretty financially savvy, read a lot, have access to money to start with, excellent credit score, etc. My question for now is this: Given depreciation etc., does it ever make sense to get something less than a 30-year mortgage to take advantage of crazy low rates? I can afford the relatively small difference between monthly costs and what it would bring in rent the first few years. Probably wouldn't do this for older homes we are looking at bc who knows what repairs can come up over time and require $$$. But for relatively new townhomes that are in good shape, HOA takes lovely care of grounds, etc. Thanks for the insight. This place is so helpful. [link] [comments] |
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