Real Estate General

[Anonymous No.21385566]

Yo /Biz/

Fifth day in a row making this thread, good to take a break from all the coin craze, shits kinda giving me a headache (I invested in PNK recently tho)

Here to guide you on your journey to real estate investing and clear up and misconceptions.

I own over 40 pieces of property - ask me anything.

[Anonymous No.21385622]

OLD THREADS


>>21210961

>>21231548

>>21287153

>>21336849

[Anonymous No.21385706]

Been making these to pass the time while I recover from 'rona

probably will make this thread once a week

[Anonymous No.21385954]

Are buying fixer uppers profitable at all?

[Anonymous No.21386052]

>>21385954
Just to be clear I mean buying a property that needs to be fixed up and then flipped. Are these profitable to do?

[Anonymous No.21386175]

>>21385566
>>>21231548
40 properties, 40 doors?

Advice on property management?
BRRR method?

What's your opinion on commercial RE now?

What about the moratorium on the eviction notices?

How is the current economic conditions affecting your tenants and your cash flow?

Cap rate?

[Anonymous No.21386208]

I live in California have 150k in savings from being a wagie. I own no property but want to move the fuck out here because everything is expensive. Where can I find pic related.

[Anonymous No.21386250]

>>21386208
You can find it on a lens filter in the middle of fucking nowhere

[Anonymous No.21386298]

I have one rental property, I think I can turn the gigantic detatched garage into another rental property.

Life is good so far.

[Anonymous No.21386321]

This thread should be a consistent thread to piss off commies and wagies.

[Anonymous No.21386338]

I am hoping to buy my first home end of this year b/c of rates. Should I look into FHA? I seem to be getting better rates with a standard fixed rate? Still figuring out the best route.

[Anonymous No.21386355]

>>21386250
Urban nigger lover spotted. Enjoy the city faggot.

[Anonymous No.21386359]

>>21386052
Are you doing it yourself and do you know what you're doing?

[Anonymous No.21386404]

>>21386359
He's asking on here, he doesn't know shit about flipping or biggerpockets or how to look up the proeprty on the apprisror website, see the build date and forecast needed repairs or update.

lol anon

[Anonymous No.21386428]

>>21386359
Do you mean the repairs? I know some stuff and the rest I would contract out. idk how viable this is and the margins etc

[Anonymous No.21386433]

>>21385954
>>21386052

Of course those are very profitable - buying distressed and undervalued properties are where some of the most money is to be made in real estate. how you can lose money is by going overboard and renovating things which dont need to fixed and then you are spending thousands for no reason.

[Anonymous No.21386438]

>>21385566
What is your general impression of where the real estate market is headed over the next year or so? I'm thinking specifically of the smaller scale commercial market, as I'm looking to purchase a small storefront (with an apartment above ideally) sometime in the spring/summer.

[Anonymous No.21386452]

I've learned so much about home building and repair that I can easily turn a detached garage into an apartment with it's own plumbing, electical, heating, cooling, etc.
It's not that hard.

[Anonymous No.21386461]

>>21385566
I’m priced out. My preapproval of 520k Isn't good enough for a single family home. What do, anon?

[Anonymous No.21386467]

>>21386175

10 of the properties are just land.

property management can be a headache but the goal is to get it runnning by itself and forget about it

PASTED from last answer

Commercial and industrial tenants are easy - make them sign an as is lease. If something breaks its on them but for more major repairs we work together.

For residential my local utility company (DTE energy) has somehting call the HOME PROTECTION Plan which is basically $50 a month and covers all appliances in theh house (furnace, water heater, ac, fridge, toilet, stove, etc) if something break I tell my tenant call DTE and DTE comes and fixes it - shits fucking awesome and if they cant fix it they give me $400..

[Anonymous No.21386478]

>>21386461
How much is a single family home in your area?

[Anonymous No.21386494]

>>21385954
it's profitable only if you have a lot of cash. as soon as you start financing things to flip you're not going to do well

[Anonymous No.21386496]

>>21386461

you gotta move bro :/

I think I remember you from last thread - you from cali?

[Anonymous No.21386514]

>>21386461
About 50-100k more than that for a normal/good neighborhood. Run me through some options please. My entire future is riding on it

[Anonymous No.21386522]

Yo i will be back in less than 20 minutes keep this shit alive

I will answer all questions when I get back - sorry

[Anonymous No.21386548]

Do you have experience with buying laundromats? Is it worth buying an existing laundromat or starting a new laundromat?

[Anonymous No.21386641]

>>21386452
Don’t do this unless you want massive headaches and delays when you try to sell of refinance (if in the US). Make sure you’re zoned for an ADU.

>t. Appraiser

[Anonymous No.21386669]

>>21386548
Not worth it, average cost of units for home use is about $500, bestbuy will fiance 12 months, as long as above 560.

The areas where people don't have machines are nigger areas like OP has in detroit.

They don't give a fuck, they'll beat that shit up and call it racist cause it white and then burn it down.

Plus if they figure out how to undo the hoses for free water and electricity, you're fucked.

[Anonymous No.21386712]

>>21386514
Buy in a cheaper area and commute. The current trend seems to be pretty solid as long as rates stay low.

Dodd Frank made it really hard to kill the market, but it made home buying a lot harder for first-timers with mid-tier credit and few assets/lower income.

[Anonymous No.21386740]

>>21386548
sounds like a good place to do some money laundering

[Anonymous No.21386789]

>>21385566
how much do you make per month?

[Anonymous No.21386793]

>>21386641
>Don’t do this unless you want massive headaches and delays when you try to sell of refinance
Leaf here. We're not as cucked as you are and can sell without zoning bullshit most of the time

[Anonymous No.21386803]

>>21385566
I'm sure you've answered this before, but which is more profitable? Flip a house, taking that money, and buying a second one outright, or to flip it and then rent it, buying the second with a mortgage? Secondly, should I hire a property management company if I don't want to bother with dealing with renters? What's their cut usually like?

[Anonymous No.21386826]

>>21386712
>Dodd Frank
what a horrible law

[Anonymous No.21386828]

I think that one day I would like to get into real estate but it seems to be rather complex if worth it. What resources can I study to learn about all of the ins and outs of real estate investing?

[Anonymous No.21386842]

>>21385566
Anyone own an island ITT?

[Anonymous No.21386886]

>>21386842
not yet, but how much is that island?

[Anonymous No.21386923]

>>21386793
Carry on my dude. I just end ruining everything when I show up if people do garage conversions, especially when pic related is involved.

[Anonymous No.21386937]

>>21386712
What if I wait like 3 years? Rates go up?

[Anonymous No.21387000]

>>21386923
That's why USA is a commie shithole while Canada is more economically free.

[Anonymous No.21387017]

I will be back in 20 minutes - i apologivze when i return all questions will be answered


thanks

[Anonymous No.21387019]

>>21386828
Unironically become a broker/agent. You’ll get the basics of everything even if you don’t end up getting licensed, plus first hand access to MLS is invaluable (Zillow data is outdated).

[Anonymous No.21387028]

>>21386208
Look into the midwest, this is what a lot of Nebraska and the Dakotas looks like. It's too hilly for Kansas, but there are parts of the western plains that are like this

[Anonymous No.21387081]

been diversifying from crypto into hard assets (PMs and real estate). i came from a (lower) single-mother middle class upbringing, and am having...growing pains with learning everything that comes with this wealth (creation).

what's the best way to link up with you outside of /biz/? as anonymous as you'd like, i'd truly appreciate the mentorship.

[Anonymous No.21387088]

ABOLISH ZONING LAWS

[Anonymous No.21387098]

15% minimum is going to get knocked off the top in my city once mortgage holidays ends in september. Combined with basically no immigration to keep the market propped up, a decimated employment market, mortage holders already being stressed before the rona, air bnbs flooding the rental market (many of which are investment properties), and existing negatively geared investors facing a drop in property values, im expecting at least a 30% market downturn over 2 years. Once the market finishes bottoming out i expect to pick upna 2 bedroom unit at near on a 40% discount over last years peak prices.

Buckle up lads, its gonna be gud.

[Anonymous No.21387120]

>>21387081
WE SHOULD start a discord

[Anonymous No.21387166]

>>21386937
They probably will, yeah. Now is honestly the best time to buy.

You can haggle over $20k and feel like a winner, but it’s nothing compared to a percentage of interest on a 30 year mortgage.

Even if the market crashes again, it’ll go back to normal in a few years. That’s what I love about real estate is that it’s such a resilient asset if you can hold onto it when shit hits the fan.

[Anonymous No.21387219]

>>21387098
What country are you in?

[Anonymous No.21387230]

>>21387166
things can change dummy

[Anonymous No.21387261]

Thanks for the thread again anon. I posted in last one asking about town homes.
So, I've been thinking and I am pretty sure I will cash out some of my LINK stack within a month. This should give me roughly 1m.
I don't think I can qualify for any mortgages because of low paying work history. Would you still recommend trying to find land contracts or possibly just pay off a 500k property in full?
It will be my place to live. Maybe rent if get bored and can travel again.

[Anonymous No.21387392]

I just opened a home inspection buisness at WIN, am stoked to "be my own boss" and convert 100% of my effort into cash in my pocket.


I am really impressed with this company, I have had shitty prior working experience. They behave as if my success drives their profits, and from persoanl experience that is rare. Tye assistance is above average and they teach you everything.

[Anonymous No.21387419]

>>21387166

> dark ntentionz

Spic detected driving the dark tahoe.

[Anonymous No.21387436]

>>21387219
Straya, living in sydney. Our real estate market has been a joke for 15 years, the governments have been endlessly pumping the demand side by endless immigration (higher per capita than even canada). Boomers and x'ers have tied their wealth up in a sepculative market at the expense of millennials and younger.

The whole social, political and media aparatus of this country is focused on keeping the prices high, but the house of cards is about to come tumbling down.

I expect mass suicides in 2 years time.

[Anonymous No.21387475]

>>21387392
How many do you do in a day?

[Anonymous No.21387546]

>>21385954
I’m putting a house in the market tomorrow that I have been (personally) rehabbing for almost a year. I expect to make 90k profit when it sells.

[Anonymous No.21388029]

BACK

[Anonymous No.21388108]

I'm fucking sick of democracy bros.

[Anonymous No.21388156]

>>21385954
>live in house while fixing it
I'm in the green but it's been a hellish way to live. At this point I know how to build or repair every subsystem and component of a house, I just hate doing most of it.

[Anonymous No.21388191]

>>21386298
Kek that would be dope turning a garage into another unit - would love to see that! great thinking!


>>21386321
more memes please

>>21386338
I never have used a mortgage to buy a house - look at the last thread and search land contract which is what i use. its basically seller financing where you put a large cash deposit down and pay the remainder every month usually with interest

>>21386438
prices will go up simply because the fed is printing so much money. there is a shortage of residential property as well. Office space is getting fucked right now but industrial will always be good, especially in a city like detroit. some commercial is booming (restaurants) while some is struggling (bars)

ANYTHING with a restaurant will be booming

>>21386548
ive never looked into that - closest thing I own is a carwash which i lease out

>>21386789
barely anything I am balls deep in 2 large industrial projects and putting whatever I can spare after taxes and insurance into crypto

[Anonymous No.21388258]

>>21388191
>Kek that would be dope turning a garage into another unit - would love to see that! great thinking!
Everything is in place to turn this into a serious project, it already has heating, cooling and power, just needs plumbing. I just need to jackhammer and do some plumbing and I will own a cheap property with THREE fucking rental units, holy shit I thought I got lucky with the separate entrance but this is holy

[Anonymous No.21388278]

>>21388191
>more memes please

[Anonymous No.21388323]

>>21388191
>more memes please
e

[Anonymous No.21388327]

>>21386793
kek

>>21386803
so to be honest flipping a house to make some money and move onto the next project is probably the smarter thing to do but Ive always regretting selling any property im such a loser

I dont deal with management companies they take a large portion out for basically doing nothing - see if your local utility company has a protection plan.

PASTED from last thread

"For residential my local utility company (DTE energy) has somehting call the HOME PROTECTION Plan which is basically $50 a month and covers all appliances in theh house (furnace, water heater, ac, fridge, toilet, stove, etc) if something break I tell my tenant call DTE and DTE comes and fixes it - shits fucking awesome and if they cant fix it they give me $400.."


>>21386828
this>>21387019


>>21386842
when my PNK and LNK explode i will


>>21387081
drop an email id be more than glad to help you with any questions

[Anonymous No.21388351]

>>21388191
>more memes please
yes

[Anonymous No.21388376]

>>21385566
My parents own two houses right next to each other, and originally bought them so they could live in the small 2 bed one and my sister, her husband and their two kids could live in the other. Recently they've moved out since the husband is a fuckwit (long story) so now they're planning to sell up and move to a town about 20-30 minutes away. I proposed that they stay in the smaller house, and allow me to rent the house out to two separate tenants while I live there as well, which I think works well since i'll be close by to help my parents with stuff - they're starting to get a little old. Still, they're more keen on selling up and moving. What would you say is the best way to illustrate to them that renting the house to me and staying put for at least the next 12 months is the best option for everyone involved?

[Anonymous No.21388395]

>>21387098

what city?

>>21387261
anon drop an email I will be more than happy to find and negotiate a good land contract for you

[Anonymous No.21388407]

>>21387546
Congrats anon. What condition level? Is it a full gut? Shitflip?

[Anonymous No.21388410]

>>21388191
>more memes please

[Anonymous No.21388432]

>>21388376

Hmm right now is a great time to sell so I can see why they'd want to do that

What you should demonstrate is that you'd be able to fully cover their mortgage - put several hundred in their pocket every month and make it as headache free as possible

[Anonymous No.21388433]

>>21388191
>more memes please
bg

[Anonymous No.21388447]

>>21385954
Good bones is all that matters, plus furnace, plumbing, roof, etc

[Anonymous No.21388452]

>>21388432
I should say this is in Australia, not the US. Also the own the houses outright so there's no mortgage.

[Anonymous No.21388475]

>>21388410
>>21388351
>>21388323
>>21388278


Kek im thinking about writing an anonymous book about being a landlord / developer from Detroit - in order to be completely honest I would have to stay ANON but the shit ive seen...

I was in Detroit before all the hipsters man, to be honest I dont even know how im alive still with all the abandoned building ive bought and crackheads ive been chased by

[Anonymous No.21388482]

>>21385566
I enjoy being in my 20s having 1 property on rent just by existing

[Anonymous No.21388498]

>>21385566
be me buy house near ghetto
buy fixer upper with FHA loan 1700 dollars down, purchase price 42,000.

Make anonymous tips about drug activity
Make dozens of quality of life complaints online
Abandoned houses start to get knocked down
Other houses getting renovated
in 3 years house is now worth 100k
feels good man

[Anonymous No.21388503]

>>21385954
this
>>21388447


>>21388452
interesting.. if there are 2 people living in the house try getting your parest 1500 a month and they will be more than happy

[Anonymous No.21388521]

>>21388395
Anon about the townhomes. phoneposting id
[e-mail]
Thanks for the help

[Anonymous No.21388535]

>>21388475
damn, good luck still being in detroit

[Anonymous No.21388534]

>>21388498

very nice. I bought a house in south warren for 12000 cash another for 14000, fixed it up myself. Rented each out for 800 each. Taxes are 500 each a year. Each one is worth 55k now

[Anonymous No.21388568]

>>21388521

of course dude it sounds like fun - my favorite part of RE is the hunt but ive not in the market for any real estate while im developing these two MONSTER projects.

[Anonymous No.21388604]

>>21388503
We haven't talked figures yet but i'm going to see if they'll take 1200, that'll be 600 a month for each room and lets me live there rent free. I can go up from there but i'll need to make some changes in my own life to make that happen. Cool, thanks for the advice.

[Anonymous No.21388631]

>>21388535

i bought my first building when i was 16/17 - im 24 now. Ive alway been working in the city of detroit so im very very street smart and can grow a crazy beard. but when i was 16-22 the city was a mess and nothing like it was today. Ive almost been robbed multiple times, buildings always been broken into, and not to mention the city being very very difficult to work with

[Anonymous No.21388686]

>>21388604
what city in 'straya

[Anonymous No.21388758]

>>21388686
I'm about an hour out of Adelaide

[Anonymous No.21388770]

btw Ive been buying LINK and PNK - shill me some coins that are going to make me rich so I can cash out my dream condo in Miami Beach

[Anonymous No.21388787]

>>21388758
>Adelaide

whats going on with the covid laws - i saw a video of a women getting rekt by a cop for not wearing a mask

[Anonymous No.21388799]

>>21388631
sounds good homie good luck
come to the "south side" sometime and give us some love. come to Caesars after covid
We're basically americans anyway amirite <3

[Anonymous No.21388839]

>>21388534
You are actually doing the labor with all the joggers around?

[Anonymous No.21388842]

>>21388787
Not sure how it's been in Adelaide, I haven't been there since before all this started but everywhere i've been you'd think nothing was wrong, all the businesses are open and seem like they're all doing just fine. A little panic buying a week or two ago when they said there was going to be more restrictions but even then it wasn't completely nuts like it was at the start.

[Anonymous No.21388846]

>>21388799

haha I love windsor but havent been back since last time border patrol anally raped my car and just threw my clothes fucking everywhere and made my car a huge mess :/

[Anonymous No.21388868]

>>21388839

When I was younger I did - now I have enough money to hire people. We're talking about less than 1000 sq ft houses so they each only took a little over a month individually

[Anonymous No.21388904]

>>21388839
Oh man you just reminded me of this time on the last house my "contractor" i.e. a pill popping fake charity gypsy ran off with all my supplies and disappeared into thin air

Man i need to write this book for /Biz/

[Anonymous No.21388943]

Alright guys you inspired me to write a book

BTW im working on a crazy RE website right now

[Anonymous No.21388969]

>>21387019
you can get live MLS data from local realtor websites or realtor.com who is friendly with NAR and gets live MLS feeds, unlike zillow who is hated by the entire industry and has absolutely shit data

[Anonymous No.21389039]

>>21388846
>havent been back since last time border patrol anally raped my car
I remember before 9/11 when my family I were trying to cross the border to do some family shit and this black border guard with a cast broken arm on his cell phone just waved us by "just go go go". Pretty cool.

>anally raped my car and just threw my clothes fucking everywhere and made my car a huge mess
Fuck I heard leaf border security is worse than american on the north side.
Come back sometime after Turdrow opens the border, we don't bite.
We've been part of Detroit for a long time.
Fuck man I have it in my DNA.
I've been to Tigers games with my dad so many times, at Tigers Stadium too, not Comerica. My dad's friend had this pass when I was a kid that let us go to any seat we wanted any time.

[Anonymous No.21389062]

>>21388969
>>21388904
>>21388868
>>21388842
not hard at all to get MLS data

[Anonymous No.21389142]

>>21389039

my uncle is from canada - love it there. Man when i was like 19 or 20 for new years downtown Windsor was litttt. Everything was popping and plus I love the KEG haha. definitely gonna be coming down there once the border re-opens

btw ive beeen hearing about crazy marijuana bust from canada into USA via tunnel or bridge shits nuts

[Anonymous No.21389213]

Im really happy with how these threads are coming out

Been sick with Rona since the 3rd/4th of this month

[Anonymous No.21389261]

>>21389062
Major League Soccer?

[Anonymous No.21389378]

>>21389261

Kek, what sports are popular in Australia?

[Anonymous No.21389392]

>>21389142
>my uncle is from canada - love it there. Man when i was like 19 or 20 for new years downtown Windsor was litttt. Everything was popping and plus I love the KEG haha. definitely gonna be coming down there once the border re-opens
sounds good man, I grew up here and love it, going to be moving away soon tho, but my roots are here and I will always come back
>btw ive beeen hearing about crazy marijuana bust from canada into USA via tunnel or bridge shits nuts
What? Isn't it legal in ON and MI now?
Must be a federal thing.
Both my uncles have 4 plants each and they're budding now.

[Anonymous No.21389495]

>>21388395
>what city?
Sydney brah.

We're paying on average a million dollars for a family home on a quater acre block that realistically should be worth half the asking price.

[Anonymous No.21389515]

>>21389392

haha thats dope - I love smoking weed but stopped because I cant find organic pot anywhere for a reasonable price

[Anonymous No.21389559]

>>21389495

dam well I guess that what happens when you got over 4.5 million people living in a city area

[Anonymous No.21389610]

>>21388452
Honestly mate, depending on where you are in aus the smart thing to do would be to sell both and rent for 2 years until this corona virus shit works its way through the economy. Shit is about to get real down here.

[Anonymous No.21389694]

>>21389378
Rugby, cricket and gAyFL.

[Anonymous No.21389731]

Not sure if this is answered in an old thread, but does anyone have experience with buying property in Europe? I’m looking at Italy due to the stupidly low real estate cost right now
I’d look to get property for Airbnb hosts but they seem a lot less reliable than long-term residents, but I’m also scared of those too due to wear on the property

[Anonymous No.21389744]

>>21389559
See my earlier post here:

>>21387098

We have been getting rekt by boomers, but the chickens are coming home to roost.

[Anonymous No.21389794]

Just about to get my agent license but having a hard time picking a company/broker. Everyone seems like a faggot in real estate

[Anonymous No.21389795]

>>21389731

I have no experience buying property in Europe. But buying property in Italy seems like the move

How's the immigrant situation there?

I have one property I airbnb and make significantly more money than just renting it out but it is much more of headache. I do have a cleaning lady which I have trained to clean up and set up for the next rental. She basically runs it and I give her $$$ per each rental

[Anonymous No.21389834]

>>21389794

Yeah man just go with whatever company has the best sales / hottest chicks. you can learn a lot

tip: dont be afraid to lower you commission to get a deal sold - that being said know which deals are easy to bag to where you wont have to

[Anonymous No.21389846]

>>21389515
Cool shit
Weed is like nothing here, my tenants have 4 plants and I dont give a fuck

[Anonymous No.21389944]

>>21389834
Thanks. A lot of bigger brokerages have reached out but tend to nickel and dime their agents. Think I might go for a smaller brokerage desu

[Anonymous No.21390017]

>>21389744
I just bought my first house. It's mental to me that cunts in NSW are paying close to a million dollars for a house just because it's "close" to the city. Things aren't great here in Adelaide but at least I can buy a 3 bedroom house for under $350k. 30 minutes from the city, 10 minutes to the beach. One downside is stamp duty on conveyances is a bitch in SA.

[Anonymous No.21390021]

The state of the market for any aus bros who are interested.

https://www.macrobusiness.com.au/2020/08/the-great-mortgage-extend-and-pretend/

[Anonymous No.21390117]

>>21390021

giving it a read - not from ausie tho

[Anonymous No.21390405]

BUMP

[Anonymous No.21390438]

>>21390117
If you're in the angloshpere the basic fundamentals will still apply.

The best time to sell real estate is right the fuck now.

[Anonymous No.21390709]

>>21390438

interesting read

[Anonymous No.21391155]

FINAL BUMP