Category: Feeds

Best ways to find a first deal when I have little money, but tons of flexibility and time?

Best ways to find a first deal when I have little money, but tons of flexibility and time?

So, the biggest thing going for me is that I’m willing to move anywhere (in the western half of the US) that I find a good deal. It does need to be a very good deal though.

The second best thing I have going for me is that I’m not in a hurry. I want to find the right deal for my first deal, and I’m willing to wait to make that happen. That being said, I’m very hopeful I can purchase before 2022.

The biggest things I have going against me are that I’m low income (40k per year) and work freelance so I don’t have w2 income.

My ideal first deal would be a 3-4 bed, 2 bath house or small multifamily residential property in a college town or upcoming area.

Are there any curated lists or specific sources I should keep an eye on? I’m very active on Trulia and Zillow, but the vast majority of properties I see are turn-key and out of my budget. I’m willing to do light rehab myself.

Should I get in contact with agents in potential towns I’d be interested in? Or is my situation too vague and long-term to be of interest to agents?

Ideas are appreciated!



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When is it worth it to start your own property management company?

When is it worth it to start your own property management company?

Currently at 16 doors, close friend in same city has 22. Our goals are to have about 40-50 each, at what point would it make sense just to start our own PM and pay ourselves?

Mind you, we’re out of state investors so having a PM is an operational necessity.



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Where do you find meetup groups?

Where do you find meetup groups?

My wife is in the military, and I can’t find a real estate investors group for this town on Bigger Pockets and the group I found on meetup.com doesn’t seem to be active any longer… Anywhere else you’d look for a group?



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Should I refi my rental, before or after my next mortgage?

Should I refi my rental, before or after my next mortgage?

I recently bought a house to rent out. bought it cash and the repairs are almost done. I’m currently renting a room from my brother, but his rent is cheaper than the amount of rent I’ll be able to get from that house.

I’m still looking into my next purchase though. I’m open to moving into a place if it would get me better loan terms, but I’m also open to getting another rental. I have about 10k still saved up, so it would have to be something on the cheaper side which is ok since my market has typically cheap real estate. especially if I can find something that needs repairs. I was also thinking it might be a good idea to just refinance my rental house, and get my equity out so I could pay cash for the next property. I’ll likely actually do both of those, but not sure which I’d need to do first. kind of afraid how one would effect my credit pertaining to the other.

I have like a 790 credit score and a steady job making around 35k a year(not including the rent I plan to receive) my business partner has talked about changing my pay scale though (currently I’m salary) and letting my checks fluctuate more with our business cycle. this would mean lower checks in the winter but much higher in the summer. I’d be getting a 5 grand raise, but it would look bad on my income statements if I showed them in january. still might not actually do that though, it’s just an ongoing discussion.

I’d love your thoughts!



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What Real Estate Investing Taught Me About Our Retail Business

What Real Estate Investing Taught Me About Our Retail Business


What Real Estate Investing Taught Me About Our Retail Business https://t.co/F3VtPSOazy


Source by Linkency

Have you worked with a highly-competent 1031 intermediary that you would recommend?

Have you worked with a highly-competent 1031 intermediary that you would recommend?

In the next year or so (timeline is still fuzzy), I will be in a position to perform multiple 1031 exchanges. I anticipate a significant amount of complexity. Long story short, we are breaking up a large piece of land and selling it in roughly nine pieces. There is the possibility that I will need to exchange a single sold property for multiple new purchase, and/or exchange several sold properties for a single new purchase.

“But shadetreepolymath; why don’t you sell it as a single property, thereby making the 1031 simpler?” A couple of reasons. First, we are losing the majority of it to eminent domain, so we don’t have much choice about that. Secondly, and for the remainder of the property, market demand is much higher for the smaller pieces of property. We would take about a 50% hit on sale price if we sold it without dividing it.

So, I’m looking for a 1031 intermediary who knows IRS code extremely well, and knows how to be agile.

Also, any general advice on a 1031 would be welcome as well. This we be not only my first 1031, but by far the largest RE deal that I have ever executed.

Edit: Misspelled “eminent”



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Domani saremo a Roma all’evento Fintech Innovation di @Maker

Domani saremo a Roma all’evento Fintech Innovation di @Maker



Source by ItaliaStartUp

Parents are thinking of giving me their house. What should I think about?

Parents are thinking of giving me their house. What should I think about?

Parents are thinking of giving me their house they no longer live in. What should I think about? as far as taxes or proper way to do it. Should they hold it until they pass away? I would not live in it for several years (rent it out for now).



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Phase 2 of Valorem Token has already started. Phase 2 covers >&

Phase 2 of Valorem Token has already started. Phase 2 covers >&



Source by CoinHasYou

Purchasing an investment property in a different market

Purchasing an investment property in a different market

Heh there, I am a wannabe first time investor and have been trying to read as much as I can about the basics of real estate investing for beginners. My plan is to start off small most likely with a single family rental property and I would be buying in a different market than the one in which I live. Unfortunately the market I am currently in is one of the most expensive in the country so I cannot even dream or affording anything here.

Instead I would like to research markets a few hours from the city in areas that are becoming more desirable to live in. I will need to use a property manager as I cannot manage the property myself. I am currently trying to a analyze deals and learn the proper calculations that need to be made in determining whether something is a worthwhile investment. I want to meet with some lenders also soon and see where I stand with being being pre-approved for a loan. I currently have a 20% deposit saved away so hopefully I will have some luck with this.

I just wanted to ask if any of you guys had any other tips or suggestions for somebody in my shoes who is looking to invest in a market outside of where they live. I unfortunately don’t have any family or contacts in these areas but I want to start networking with some agents online through websites like bigger pockets. I am a total noob at this and just want to make sure I am on the right track. I appreciate any insight.

Cheers!



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