Evan G.
Soon-to-be collage graduate considering Indianapolis
18 July 2024 | 6 replies
My two Class Cs are in Christian Park and Emerson Heights.
Jason Sung
HELOC for investment home
19 July 2024 | 7 replies
Many banks won't do a traditional HELOC on an investment property, but they will do a Line of Credit, usually at 75-80% LTV, which typically renew yearly.
John Underwood
New law makes wholesaling illegal is SC
22 July 2024 | 82 replies
Basically they were making these into more traditional transactions with a commission attached.To further complicate it, the NAR clear cooperation policy meant you couldn't share those off market any more without incurring a $500 fine, so they would basically end just going to market anyways in that case.
Anthony Jacques
How to Start Investing when already using VA loan
20 July 2024 | 11 replies
I have some debt I am paying off quickly (avalanche) and am wondering if I should try to get two loans, one from VA for my house and the other traditional for a rental property spread out over time while I'm paying this debt off, or wait a few years and be much more debt free.
Sam Trulli
Duplex vs Single family House Hack
20 July 2024 | 32 replies
This can help offset your mortgage and other expenses.Single-Family Home: If you choose a single-family home, you may have the option to rent out rooms or a separate unit if there's space, but the income potential might be lower compared to a duplex.Affordability:Duplex: Financing a duplex might be more challenging, but the rental income can assist with affordability.Single-Family Home: Single-family homes might be more accessible for first-time buyers, but you won't have rental income to offset expenses unless you choose to rent out a portion of the property.Property Management:Duplex: Managing a duplex involves dealing with multiple tenants and units, which can be more time-consuming than managing a single-family home.Single-Family Home: Managing a single-family home is typically simpler since there's only one tenant.Privacy:Duplex: Living in a duplex means you'll share a building with tenants, which could impact your privacy.Single-Family Home: Offers more privacy as you won't be sharing the property with renters.Market Conditions:Duplex: In some markets, duplexes may offer better appreciation potential and cash flow due to the rental income.Single-Family Home: Depending on the location, single-family homes may have better long-term appreciation potential.Long-Term Plans:Duplex: If your goal is to accumulate rental properties, starting with a duplex can be a good way to get into real estate investing.Single-Family Home: If you prioritize a more traditional living arrangement and don't want to manage rental units, a single-family home might be a better fit.
Eric Samuels
[Calc Review] Help me analyze this deal
16 July 2024 | 3 replies
(I've yet to take a look at the property to confirm.)ARV Comps:https://www.redfin.com/PA/Philadelphia/1012-S-24th-St-19146/...https://www.redfin.com/PA/Philadelphia/1709-Christian-St-191...https://www.redfin.com/PA/Philadelphia/1525-Christian-St-191...Rental Comps: For gross rent determination I'm assuming room configuration to be 3 bed 1 bath for two units and a 2 bed 1 bath for the last (furnished unit).
Stacy Tring
Where to offer up property for sale
18 July 2024 | 2 replies
Besides hiring a realtor to do a traditional listing or selling to a "cash for homes" company, what other options might I have for finding potential buyers?
Collin Smith
Working on your own AZ flip - rules for cosmetic items
18 July 2024 | 1 reply
My wife and I have done multiple live in flips and a couple traditional flips now, looking to scale that part of our business.
Grant Stepanic
10 Steps To Take For Out Of State Investing
18 July 2024 | 2 replies
Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time.
Joshua Thang
sec 8 Rent Increase
18 July 2024 | 7 replies
That's pretty rare that it would come in under the current price, normally like Jack said, they will give you some type of rent increase, even if it's not the full amount you requested.But it's a completely different existential debate about Section 8 and whether they're really that much more high risk than traditional cash tenants.