Home
Log in / Sign Up
    Private Messages   Advanced Search   Rules   New User Guide   FAQ   Advertise   Contact Us  
Forum -> Household Management -> Finances
Finding good real estate investments



Post new topic   Reply to topic View latest: 24h 48h 72h

amother
OP


 

Post Wed, May 04 2022, 6:47 am
Dh is not the type but I am. two years ago I said now is the time to buy RE, the market was slow due to covid and as we were getting $$$ I knew prices will go up and insanely. Well I was right. I kept telling dh we need to do this, he has friends in the line, ask them how/where to find good deals. Nothing happened. How can I do it myself?
Back to top

theoneandonly




 
 
    
 

Post Wed, May 04 2022, 7:04 am
You want to buy house that will go up or you want to invest money with someone who does real estate development?
Back to top

amother
OP


 

Post Wed, May 04 2022, 7:07 am
theoneandonly wrote:
You want to buy house that will go up or you want to invest money with someone who does real estate development?

Buy a house to rent out so we get the income plus the value will go up.
Back to top

theoneandonly




 
 
    
 

Post Wed, May 04 2022, 7:09 am
Oh so I can't help you, sorry
Back to top

amother
Phlox


 

Post Wed, May 04 2022, 7:11 am
Where would you like to buy and how much money do you have for it
Back to top

amother
Ghostwhite


 

Post Wed, May 04 2022, 7:12 am
theoneandonly wrote:
You want to buy house that will go up or you want to invest money with someone who does real estate development?


Sorry to hijack. I'm interested in the latter.
Back to top

mizle10




 
 
    
 

Post Wed, May 04 2022, 7:12 am
amother [ OP ] wrote:
Buy a house to rent out so we get the income plus the value will go up.


The income will go towards mortgage/taxes/expenses.
Back to top

amother
Vermilion


 

Post Wed, May 04 2022, 7:19 am
mizle10 wrote:
The income will go towards mortgage/taxes/expenses.


Not always. I have had multiple rental properties in the past and they covered all expenses for that property and then some. It really depends on what you pay for the property and the condition of it, and what rentals go for.
Back to top

amother
Currant


 

Post Wed, May 04 2022, 7:20 am
Now is a pretty bad time to buy a rental property. Rates and prices are skyyy high.
Back to top

theoneandonly




 
 
    
 

Post Wed, May 04 2022, 7:25 am
amother [ Ghostwhite ] wrote:
Sorry to hijack. I'm interested in the latter.

Dh has a few ppl he invests with who BH have done well so far. If you want details you can pm me.
Back to top

amother
OP


 

Post Wed, May 04 2022, 7:32 am
amother [ Currant ] wrote:
Now is a pretty bad time to buy a rental property. Rates and prices are skyyy high.

I knoooooooooow, but I'm interested in educating myself for when interest rates go back down.
Back to top

amother
OP


 

Post Wed, May 04 2022, 7:34 am
mizle10 wrote:
The income will go towards mortgage/taxes/expenses.

Depending on the location, rent can be a few hundred dollars more per month than mortgage and taxes. Include the appreciation of the property and you've got yourself a good deal. Just on my street alone, there was a house for sale for 600. I knew it's worth more but we couldn't afford to buy it. It's now valued at 1M. I would have loved to find cheaper houses for sale which would similarly increase in value over the course of a few years.
Back to top

amother
Clear


 

Post Wed, May 04 2022, 8:10 am
amother [ OP ] wrote:
I knoooooooooow, but I'm interested in educating myself for when interest rates go back down.

You might find this site helpful as an educational starting point
https://www.biggerpockets.com/
Back to top

amother
Clear


 

Post Wed, May 04 2022, 8:13 am
amother [ Currant ] wrote:
Now is a pretty bad time to buy a rental property. Rates and prices are skyyy high.

I’ve been saying it’s a bad time for 5 years.. but now looks like a bad time for real Banging head
Back to top

amother
Mintcream


 

Post Wed, May 04 2022, 8:15 am
Look on Zillow.

I don’t know that now is the best time to buy real estate, especially as an investment. The market is still very hot in most areas - it hasn’t reacted to the interest rate hike yet. That means you’ll be paying an inflated price in addition to having a high interest rate on your mortgage. Interest rates are not expected to go down anytime soon, so a refi won’t be applicable for at least several years. Profitability would be challenging.
Back to top

amother
Seablue


 

Post Wed, May 04 2022, 8:17 am
Be aware that real estate prices do not go up forever in a linear fashion. They have gone down in the past and will in the future. The current spike in interest rates creates a high level of risk. As long as you are looking at a property with decent cash flow and have a long-term horizon You should be good but past performance of real estate over the last few years is not a guarantee of future results by any means.
Back to top

amother
DarkCyan


 

Post Wed, May 04 2022, 8:18 am
It's really not at the time to invest. I happen to have invested in a house right before rates went up. For now I am sitting tights and waiting. I am in the mortgage field, and rates are just going up and up and up.
Back to top

amother
Clear


 

Post Wed, May 04 2022, 8:22 am
amother [ DarkCyan ] wrote:
It's really not at the time to invest. I happen to have invested in a house right before rates went up. For now I am sitting tights and waiting. I am in the mortgage field, and rates are just going up and up and up.

I hear they are already over 5% and this is just the beginning of the hikes.. How high do you think rates will go??
Back to top

amother
Geranium


 

Post Wed, May 04 2022, 8:52 am
mizle10 wrote:
The income will go towards mortgage/taxes/expenses.


You want to run the numbers to make sure you walk away with minimum 8% on your original down payment close to worse case scenario . Otherwise you don’t buy.
Of course you take all that into account.
Hopefully the home will increase in value.
You refinance and pull out cash and do it again.

amother [ Clear ] wrote:
I hear they are already over 5% and this is just the beginning of the hikes.. How high do you think rates will go??


It’s funny I don’t see 5% as so high. A few years ago that was low. If you want to buy buy before it goes higher. If it goes lower you can always refinance at the lower rates.
Back to top
Page 1 of 1 Recent Topics




Post new topic   Reply to topic    Forum -> Household Management -> Finances

Related Topics Replies Last Post
S/O budgets. Amazon, Real Estate, struggling businesses
by amother
2 Today at 9:15 am View last post
I don’t know if this is real, but Tehillim never hurts 3 Wed, Mar 20 2024, 1:49 pm View last post
Need help finding a speaker to buy 2 Sat, Mar 16 2024, 7:30 pm View last post
Help finding a gift for a friend
by amother
3 Wed, Mar 13 2024, 7:23 am View last post
Nice affordable earrings for weekday (not real)
by amother
7 Sun, Mar 10 2024, 5:23 pm View last post