Yo Zig Forums
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.
OLD THREADS
Been making these to pass the time while I recover from 'rona
probably will make this thread once a week
Are buying fixer uppers profitable at all?
Just to be clear I mean buying a property that needs to be fixed up and then flipped. Are these profitable to do?
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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?
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.
You can find it on a lens filter in the middle of fucking nowhere
I have one rental property, I think I can turn the gigantic detatched garage into another rental property.
Life is good so far.
This thread should be a consistent thread to piss off commies and wagies.
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.
Urban nigger lover spotted. Enjoy the city faggot.
Are you doing it yourself and do you know what you're doing?
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 user
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
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.
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.
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.
I’m priced out. My preapproval of 520k Isn't good enough for a single family home. What do, user?
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..
How much is a single family home in your area?
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
you gotta move bro :/
I think I remember you from last thread - you from cali?
About 50-100k more than that for a normal/good neighborhood. Run me through some options please. My entire future is riding on it
Yo i will be back in less than 20 minutes keep this shit alive
I will answer all questions when I get back - sorry
Do you have experience with buying laundromats? Is it worth buying an existing laundromat or starting a new laundromat?
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
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.
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.
sounds like a good place to do some money laundering
how much do you make per month?
>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
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?
>Dodd Frank
what a horrible law
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?
Anyone own an island ITT?
not yet, but how much is that island?
Carry on my dude. I just end ruining everything when I show up if people do garage conversions, especially when pic related is involved.
What if I wait like 3 years? Rates go up?
That's why USA is a commie shithole while Canada is more economically free.