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If you put the rental into a LLC, what happens to the mortgage? Will rates increase because you get to get it changed from your name to the LLC’s? | r/rentalinvesting | comment | r/RentalInvesting | 2024-20-08 |
There's a possibility that they could trigger the due on sale clause. That means the mortgage comes fully due. However, in all my time as a RE investor, I have never heard of that happening. From a purely technical answer though, it *could* happen according to the paperwork of the average loan.
What usually happe... | r/rentalinvesting | comment | r/RentalInvesting | 2024-20-08 |
Great breakdown. I found this really informative. Thank you. | r/rentalinvesting | comment | r/RentalInvesting | 2024-14-08 |
I just read your original post. I’m curious, what did you end up doing? Would love an update. | r/rentalinvesting | comment | r/RentalInvesting | 2024-15-08 |
This is really insightful. Thanks for sharing. I’m also looking at a similar situation as OP. | r/rentalinvesting | comment | r/RentalInvesting | 2024-15-08 |
I'm glad to read that it was informative to you! Always happy to help. | r/rentalinvesting | comment | r/RentalInvesting | 2024-15-08 |
I was also wondering about this. Very useful, thank you. Curious what OP decided to do. | r/rentalinvesting | comment | r/RentalInvesting | 2024-14-08 |
I usually recommend buying in state. But you could get a turnkey rental. That’s the best way I know to invest out of your own state. | r/rentalinvesting | comment | r/RentalInvesting | 2024-09-08 |
I don’t think they’re all terrible. But a lot of them are. You still end up having to manage the property manager. | r/rentalinvesting | comment | r/RentalInvesting | 2024-09-08 |
Have you talked to the ADU company? Sometimes they can point you toward niche financing options. Did you ever find a solution? | r/rentalinvesting | comment | r/RentalInvesting | 2024-09-08 |
That’s really informative. Thanks for explaining this! I’ll keep it in mind. | r/rentalinvesting | comment | r/RentalInvesting | 2024-09-08 |
I am building it myself with a few subs. Yes I went to a mortgage broker, and they have way more control it seems over closing on the heloc. She just showed me some of the options as far as banks or credit unions that they use. She knew exactly how to properly calculate dti with a rental. Her options were about 1% ... | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
Brokers often are more flexible than lenders and banks. I hope that everything works out for you. It’s cool you’re building it yourself! | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
I hope with the money he saves he can buy a razor to shave | r/rentalinvesting | comment | r/RentalInvesting | 2024-28-07 |
I wouldn’t buy in CA either. RTR is a solid company. Please update us on what you decided to do. | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
REITs are great. But I know just what you mean. Real estate makes me feel more secure somehow. | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
Are you moving into the next primary immediately? Or going to rent out the primary and stay in an ADU or something first? How are your plans going? | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
That’s true. CA expenses are awful though. I also wouldn’t want to invest in that market. | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
CA expenses are high for sure. But the market and CA economy is stronger than any other state | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
Renting out my primary immediately and moving to my new primary | r/rentalinvesting | comment | r/RentalInvesting | 2024-10-08 |
That is true. There are certainly arguments for and against buying there. Just depends on your scenario, I think. | r/rentalinvesting | comment | r/RentalInvesting | 2024-14-08 |
We pull comps every time and try to gauge interest of the area and place our best prediction. Within a couple of weeks you should be able to figure out if the guesstimate was close enough or if you need to adjust. I'll also mention, that keeping track of rental properties, we've been using HappyPropy (https://happyprop... | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
I wouldn’t do this. As a prospective tenant, this would drive me away. It’d look like false advertising. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
Honor listed rent. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
Thanks for the info. Just finished my call with their team. They are on top of it for sure. So far I’m very impressed.
Next steps are to get pre-approved and get a property under contract asap. Going through their inventory list this evening. Appreciate all the input. | r/rentalinvesting | comment | r/RentalInvesting | 2024-22-07 |
I did go ahead and call them. You were right, they were amazing. They took a ton of time with me. | r/rentalinvesting | comment | r/RentalInvesting | 2024-25-07 |
I just had my consultation with them. It was a great conversation. I’m probably going to move forward with it. Thanks for your informative replies on this thread. | r/rentalinvesting | comment | r/RentalInvesting | 2024-25-07 |
I think the main pro of investing with rent to retirement is the ability to have access to off market deals from vetted teams in different parts of the country. This is an easy way to invest in property outside of your local area where everything is already taken care of for you. I live in an expensive market where t... | r/rentalinvesting | comment | r/RentalInvesting | 2024-08-08 |
Great to hear that getting a turnkey rental worked out for you, OP, and that you are happy with Rent to Retirement. I am at the very start of shopping for my own rental property, also in theMidwest. So far, all I’ve done is the initial RTR consultation, plus looking at their listings a bit. After reading what you share... | r/rentalinvesting | comment | r/RentalInvesting | 2024-13-08 |
I’m so glad you decided to do the consultation! Mine was a wonderful experience. Have you taken any further steps since then? Would love to hear how your journey has been going now that I am starting to shop through the listings. | r/rentalinvesting | comment | r/RentalInvesting | 2024-13-08 |
That was one of my questions too, originally. They explained to me during the consult that you own the property, and that you have complete control. I recommend just calling them and asking your questions. They will take as much time as you need during the consult. | r/rentalinvesting | comment | r/RentalInvesting | 2024-13-08 |
How do we know the homes are priced appropriately and are in good condition prior to buying? I will likely invest with them, but I don’t have time to fly out to see the property. | r/rentalinvesting | comment | r/RentalInvesting | 2024-20-08 |
The vetted deals sound really great, and the financing options. And just having someone I can call when I have questions. My anxiety has made it hard for me to invest, even though I want to. After reading your post, OP, I think this is exactly what I need. I’ll follow up after I have my consultation to let everyone kno... | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
A month ago, you were where I am now, trying to decide about this. I appreciate you returning to share your experience with us. That was a while ago now though. Do you have any additional updates? | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
It’s so hard to find professionals that will listen. I’ve found that to be the case in pretty much every field. But especially with anything financial, it’s so critical. I really hope RTR turns out to be what I’ve been searching for. | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
We’re approaching your October timeline (crazy how this year has flown by). Have you been looking at listings through Rent to Retirement? Are you still trying to buy within the same timeframe? | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
Have appraisals and inspections. Your lender will require an appraisal to confirm the home is priced appropriately based on comps. Have an inspection report to ensure it's in the condition you expect prior to closing. I like new their construction specifically which haven't had appraisal or inspection issues. | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
yes, proud to say we are on track. Under contract with on in FL and another in AL using some creative financing options where I will put down about 5% to 6% on each home and getting a kickback at closing that will allow me to be very little money into the deals! | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
Have you made any movement toward adding to yourALreal estate portfolio since we last talked about this? I’m really curious to keep following along in your journey, and I am still working out the details of my own plans. | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
Oh, I was just asking about this in another of my replies. That’s great to hear! Especially about the kickback. Let us know how it goes! | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
I agree, those are some of the biggest benefits, to be sure. Definitely not the only ones though. I think the education the Academy provides is also great, and the value of the company taking care of so many of the logistical details of the sale and maintenance is also a big deal. | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
yup, happy to keep the thread updated. | r/rentalinvesting | comment | r/RentalInvesting | 2024-21-08 |
75% | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
I'm a former commercial lender and one thing I'd encourage you to do is reach out to a local bank specifically in the same area where your current rental property is and discuss getting a line of credit on the equity that's in that property. You can then use the LOC as a down payment in most cases to get another loan o... | r/rentalinvesting | comment | r/RentalInvesting | 2024-29-07 |
Buy new home and have old as rental?
Hello, I'm looking for any and all advice. I currently have a house (current market value at $280k, mortgage at $100k) I'm looking to buy a house at $270k. I have maybe $2000 cash. I have a +/-790 credit score. What is the best way to structure a deal where I get the new house and... | r/rentalinvesting | post | r/RentalInvesting | 2024-22-07 |
Take out a HELOC on the old house for the 20% down payment on the new house.
or
Take out a HELOC on the old house for the 3.5% down payment with an FHA loan on the new house. Make sure the payments still make sense with the higher loan amount and PMI. | r/rentalinvesting | comment | r/RentalInvesting | 2024-22-07 |
Second the idea like th helicopter might be your best idea. Confused that you have no savings and no cash, how do you plan on paying for closing costs and rehab work? | r/rentalinvesting | comment | r/RentalInvesting | 2024-22-07 |
How are you buying a house with only $2000 in cash... is this a typo? | r/rentalinvesting | comment | r/RentalInvesting | 2024-23-07 |
You can buy a house with $0 if you use a USDA loan
The $2k is what I have "extra" right now | r/rentalinvesting | comment | r/RentalInvesting | 2024-23-07 |
$0 down payment does not mean you can close on a USDA loan with zero money out of your pocket. There are plenty of closing costs involved and $2000 isn't enough to cover those. In addition most loans have underwriting that would take your savings into consideration to qualify for the loan. | r/rentalinvesting | comment | r/RentalInvesting | 2024-23-07 |
$2k cash? Oh, I see USDA loan. Sounds like a nice opportunity. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
Disabled with mobility issues and mostly bed ridden.
They will have assistance from family members, but they will not stay just regularly visit.
This is in California. | r/rentalinvesting | post | r/RentalInvesting | 2024-24-07 |
Good question!
1. Will their income be paid to you by disability benefits or by the tenant/tenant family? If it is by the tenants family, make sure you do income verification for them as you would any tenant. If it is through disability pay, make sure you get the necessary paperwork filled out with the agency before y... | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
Make sure you understand their income. Should be fine though. Just need to make sure they can afford it now and in the future. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
Over a year ago I bought a property with an existing house and 2 acres of land. The thought was always to build an additional house on the property to be used as an airbnb. I'm starting to talk to lenders and they're all saying they won't do loans for rental properties.
The work around so far has been for me to get a... | r/rentalinvesting | post | r/RentalInvesting | 2024-24-07 |
Forgot to mention, have about 25k to put down on the new construction. Local lender requires 10% down to build the new home as a primary residence. 7% interest rate. | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
Since no one has given you an answer I’ll give you an opinion.
You are not properly bank rolled for this endeavor. You’re going to way overextend yourself. New builds go over budget, interest rates are high.
Stick that 25k into you and your wife’s Roth IRA to the limit and the rest in a hysa. Stack cash for th... | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
Thanks for your input! | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
You’re welcome. Best of luck. | r/rentalinvesting | comment | r/RentalInvesting | 2024-24-07 |
Since you didn't use the term "DADU" or "ADU" (Detached Accessory Dwelling Unit), I'll start by suggesting you look into that (apologies if the omission was intentional) as requirements may differ from what may be considered an investment property, 2nd home or new primary. It may eliminate the need to subdivide and pos... | r/rentalinvesting | comment | r/RentalInvesting | 2024-25-07 |
I strongly suggest working with a pro for guidance. Like, I worked with [Rent to Retirement](https://www.renttoretirement.com/). You can get turnkey rentals through them. They offer great mentoring along the way. You could get advice from them about financing. Plus, they offer some excellent financing options that you ... | r/rentalinvesting | comment | r/RentalInvesting | 2024-30-07 |
I have the opportunity to obtain these 28 units. They were built in the late 1980’s and the contract settles Aug 2024. Next month. Who knows about them and what should I know? | r/rentalinvesting | post | r/RentalInvesting | 2024-24-07 |
Has anyone bought section 8 housing in other states? I'm in CT but want to expand into areas with more property availability and lower price points. Wondering who has done it and what are your pros and cons? | r/rentalinvesting | post | r/RentalInvesting | 2024-24-07 |
No, I haven’t. I’m curious about this though. I hope someone weighs in. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
r/rentalinvesting | post | r/RentalInvesting | 2024-27-07 | |
Really interesting. Thanks for sharing this. Will look into it more. | r/rentalinvesting | comment | r/RentalInvesting | 2024-27-07 |
Buy
Renovate
Refinance
Rent
Anyone doing this?
What cities are you finding success in?
Which jobs do you outsource?
Please state where you are if different than above. I am from Sask Canada. Can help us understand | r/rentalinvesting | post | r/RentalInvesting | 2024-27-07 |
I'm looking to rent a house in the Dallas area, and my budget is 2000/month.
I go onto Zillow, Realtor, trulia, etc and set my maximum rent to 2000/month, and get a list of available properties in my price range. Cool.
The problem is that I'm seeing a trend where owners and property management companies are adding on... | r/rentalinvesting | post | r/RentalInvesting | 2024-28-07 |
Management have had instructions to tenant regarding property has to be returned in original condition.
Tenant installed ceiling fans in several bedrooms.
Selling advise on move out process and proper treatment assuming tenant doesn't restore back to original condition (or remove fan and patch ceiling)? | r/rentalinvesting | post | r/RentalInvesting | 2024-29-07 |
The tenant actually rewired the ceiling?? Honestly, I'd be tempted to leave it.
First, make sure that it was done properly, if electrical connections were added. But if it was, I'd leave it alone and count it as an improvement. | r/rentalinvesting | comment | r/RentalInvesting | 2024-29-07 |
Say thank you | r/rentalinvesting | comment | r/RentalInvesting | 2024-29-07 |
The big thing is to ensure the junction boxes are rated for ceiling fans. | r/rentalinvesting | comment | r/RentalInvesting | 2024-29-07 |
I would be grateful for tenant. He made your property more appealing with the upgrade | r/rentalinvesting | comment | r/RentalInvesting | 2024-29-07 |
Say thank you and get it inspected by an electrician to be safe! | r/rentalinvesting | comment | r/RentalInvesting | 2024-30-07 |
the horror!
is this a serious question? | r/rentalinvesting | comment | r/RentalInvesting | 2024-30-07 |
This is the big part. ceiling fans are a lot heavier than a typical light fixture and require a specific box and retro-fitting if replacing a standard light fixture. It's definitely in the realm of DIY but something that should be checked. If 3 years from now it falls onto someone sleeping, it's not that tenant who ... | r/rentalinvesting | comment | r/RentalInvesting | 2024-30-07 |
Get inspected. | r/rentalinvesting | comment | r/RentalInvesting | 2024-30-07 |
Yes, if they were professionally installed (doubtful), otherwise they are more like potentially hazardous liabilities. | r/rentalinvesting | comment | r/RentalInvesting | 2024-31-07 |
If the lease was written properly, the tenant would have to bring the property back to original condition or better.
However, having properly wired ceiling fans, up to code, is a good thing.
If they do leave it as is, take the time during the security claim timeframe to get the wirings inspected to make sure it was d... | r/rentalinvesting | comment | r/RentalInvesting | 2024-31-07 |
that's free labor. | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
Did they do it right? They probably added to its value. I’d let it go. | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
That’s what I was thinking. They may have increased the property value, lol. If so, I would just warn them not to do something like that again without permission. | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
Good call. OP needs to make sure the installation is safe. But if it is, I think they should be fine with this. | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
We have a two bedroom two bath rental house on a quarter acre inside of city limits. We’re considering selling it but wonder if we’ve decided to sell at the wrong time in the housing market? We just don’t want to be “on call” or worry about upkeep anymore. The property is in great condition, so it’s not that we’re gett... | r/rentalinvesting | post | r/RentalInvesting | 2024-01-08 |
It's called rental investing. What is it doing as an investment? What are the numbers? Cash flow?
Are you so worried about being "on call" that you're going to sell a perfectly performing asset? What happen if your toilet broke in your house? Or something else? You would call a contractor and they would fix it.
Tha... | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
I co-own an apartment with my sister and we will be renting it out. We will pay the HOA fee from the rent and I’m thinking about leaving the rest in an interest earning account so there will always be money for emergency repairs.
At some point should we split some of the earnings or how do people typically go about t... | r/rentalinvesting | post | r/RentalInvesting | 2024-02-08 |
You should have an agreement with your sister that lays out specific criteria to withdraw money. Certain dollar amount over a limit. Certain percentage of funds in the account, etc.
No one here can tell you what that looks like - you and your sister need ro have a convo what that looks like and works for everyone.
... | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
You want to plan out saving for replacements based on useful life. For instance, set aside 1/10th the value of an appliance each year, because you expect them to last about 10 years. And 1/20th of a new roof you expect to last 20 years, etc.
Set some aside for maintenance, usually about 10%.
And then plan to levera... | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
I guess have a Business bank account, deposit money there and save access in HYSA, don't mix those funds at all. If one partner takes out $100, they both do. | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
Just make a checking account at a local FCU. Setup bill pay for HOA fee and other utilities that you may have. Attach a savings account to it, and then just allocate a specific amount of money per month to go into savings for the property for fixes etc. | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
This, OP. You can’t leave room for guesswork. You need to negotiate this with your sister now, not months from now. | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
Hi all -
I recently purchased a 2bed primary home. I’ve done some upgrades (flooring, paint, HVAC, electrical) and want to find the best way manage and track these home costs for accounting and my own knowledge purposes.
I also receive some rental “income” from my fiancé to help with the mortgage. I do not have a fo... | r/rentalinvesting | post | r/RentalInvesting | 2024-02-08 |
simple trick, google sheet or excel, each tab with a year on it. jot down everything | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
Ditto | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
I just use spreadsheets. I do mine in Excel. Google Sheets works fine too though. | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
Try Wealth Position software app, you can categorize everything as per you needs and manage everything as you like. | r/rentalinvesting | comment | r/RentalInvesting | 2024-07-08 |
If you had the opportunity to build a SFH in a HCOL area what would you do to maximize return in the long term?
I have considered future proofing it so if zoning changes it could be turned into MFH easily and also possibly building it to be accessible for handicapped folks. Or maybe making each bedroom fairly self res... | r/rentalinvesting | post | r/RentalInvesting | 2024-02-08 |
bedroom on the main floor, I wish I had that. | r/rentalinvesting | comment | r/RentalInvesting | 2024-02-08 |
u/psilosauros Could you elaborate on maximizing return long term? Do you mean when you sell it having the most equity from appreciation? The most important thing is being in a good area as homes should be in high demand. As far as the features of the home goes, but in higher end finishes and do a build that is timel... | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
Yes those things absolutely help. I am wondering what specific niches or accommodations I should plan on in this build to provide for persons who may have a tough time finding them elsewhere | r/rentalinvesting | comment | r/RentalInvesting | 2024-03-08 |
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