How do you guys start investing in rental properties? I still haven’t bought my first home.. just curious how you guys manage investing in real estate?

like
Posting as :
works at
You are currently posting as works at

You decide you want to do it and then buy a house and go from there

likesmartfunny

Actually, it is just about that easy. Can’t afford to do so where you live? Find a market you can afford, contact some agents, do your research, and start making offers.

- save money
- find property
- buy property
- find tenant
- collect rent

That’s about it.

like

As others mentioned, the safest and easiest way to start is buying a property for you to live in and renting part of it to others - whether a multi unit or rooms within a SF. Get the motions down around how you handle certain issues and build a cash pile. Then turn it into a full rental and continue to refine the motion. Then scale

like

Bigger pockets helps as a newbie to get your base down. Just don’t take their rah rah attitude about how easy it is as the truth

likehelpful

I invest in fractional RE through Lofty.ai They allow to invest in RE in increments of $50.

like

It’s fine. Have been averaging about 7-8% return from the rent plus if I sell tokens the profit on FMV appreciation. It’s like owning investment RE property but at a much lower entry point and without the hustle of looking for property to buy, maintaining it and taking all the risk onto myself. Here I share the risk with others and also learn from others from the telegram chat about the properties and RE in general. It’s been fun. As for taxes, I do my own taxes. Understandably the more properties one invests in the more K-1s one will receive and if buying selling tokens one has to track tax basis. Doesn’t affect me much as I work in tax and I invest into few properties rather than many.

I started when I was 24 my buying a house I lived in and renting out the other rooms to local law students. Eventually I rented out the whole house. Eventually sold that and used it to buy a vacation home to use as a short term rental.

like

Cape cod

Before I was doing just roommate type rentals so I could still have control. I am moving towards full rentals now. I just got with my attorney to draft the contract. I have a place in mind that I am going to scout and buy at but I am still doing research. This area is far from me so I am getting a realtor to help me. I am a realtor myself but I am not an expert in that particular area. It’s fine to get a realtor. Sellers pay buying agents anyway.

like

I started by converting my home into a rental after buying a new home.

like

Lived in property, got roommates to cover most of the mortgage, moved to new house but kept old as rental. Did a 1031 exchange to sell rental for bigger better rental. I’ve found that the cash flow isn’t a lot but the write offs and accumulated equity is significant. You can also move into your rental eventually and sell your occupied house without capital gains.

smart

https://www.expert1031.com/TEE-Shots/tue-06162009-0000/moving-your-1031-property

Ok. I’m totally different here. I found a strip mall and redeveloped it. With investors. My best friend got into student housing in a college town. To me, the last thing I’d do is buy a house and rent it out. Multifamily in a good area and favorable political climate makes a lot more sense. In my view, at least. But you can’t beat straight up corporate with NNN leases.

like

What do the numbers look like for this?

I bought my first rental for my child to live in at college. But it’s work and my private real estate funds seem like a much easier way to invest in real estate.

I am living in an owner-occupied duplex. I have the whole house right now but aim to short&mid-term rent the upstairs unit to generate income for deferred improvements (roof, windows, siding) over the next couple of years.
Two of my kids are also in owner occupied duplexes and in each case they have not had to make their mortgage payments themselves: the tenant’s rent completely covers it.

Related Posts

Marriott or SPG credit card (for the sign on bonus)?

like

Pro tip: live close to poorer people to feel rich. The feelings of wealth are extremely subjective and is mainly based on comparison

likefunny

Is it better to have SFH for monthly cash flow or passive MF deals through a private syndicate? Friend told me that you need to have $1.5m invested in MF to generate 60k a year approx but it’s much better than dealing with tenants and maintenance. Just wanted to get peoples thoughts on becoming financially free through these two real estate methods

like

Off topic!

I recently bought a house (In my hometown), I am not staying there. It is currently on rent. I am getting Rent as 50% of the total Home loan EMI of that house. And it is equivalent to the rent that I am paying at my current location in another city.

Question is: Should I do yearly loan prepayments from my annual bonus to reduce the EMI amount or should I keep the loan going as it is and invest yearly bonus in share market or gold.

Or

Any other approach to get good outcome?

like

Little worries here guys - not able to transfer to Bittrex. Tried from Polo and Jaxx (cold storage). Transaction looked like it was going thru from Jaxx then seemed like it failed. ETH appeared back in Jaxx account and no changes to trans history...thoughts?

Seeking feedback on GAP insurance. I had a family member who purchased a car in June or July. They were in an accident last week and it sounds like the car will be declared a total loss. Never dealt with this before, so wanted to ask if anyone has ever had an instance where the insurance didn't cover the outstanding balance of the loan and the insured then owed money? Car was $35k, $7k down, finance $28k. Gap insurance is through lender, not auto insurer.

I have a LOT of credit card debt. It has just grown over time and I can’t find my way out. I’m considering debt consolidation, specifically a company called National Debt Relief which seems legit but I’m just so hesitant because I’m scared to make my situation worse. Or a personal loan to pay off all the CC debt and then have a smaller all in one payment. I’m intelligent and I work in finance, it’s so embarrassing. HELP.

like

Do we need to submit rental agreement to claim HRA tax exemption in Ericsson or rental receipts enough ?

How frequent rental receipts should be ( yearly ? Or quarterly)

For those taking out student loans and have researched a few vendors... recommendations on who you are going with and why? Thanks!

like

My partner bought a new truck earlier this month. We’re hoping to joint-purchase our first home next spring. Is there a “best” time to get pre-approved for a mortgage? When should we start the home buying process?

So far we’ve kept our head in the realtor apps to see what the market is doing.

Rent just went up, pressure is on!

like

Currently making 70K and I usually up my contributions each to start each year. I'm up to 10%. How should I split up my mix? Currently all in traditional.

Plan is to get this higher as I eliminate debt but 10% is all I can afford to do for now

like

Anyone taking profits from UVXY and VXX or still holding?

I’m graduating undergrad in May and want to do real estate investing long term. Is it worth it to get my brokerage license in the state that I’m moving out of (I would want to do out of state investing) or should I just take a general real estate investing class. The goal would be to grow in knowledge about all things real estate. Also, any advice on real estate investing for a beginner would be appreciated!!

like

Has anyone’s credit score dropped dramatically? Mine dropped almost 20 points in one month and the reason says because the age of my accounts are low but I haven’t opened any new ones? wondering if it’s covid related somehow?

like

Need to urgently find a 500k job. Can't keep up with mortgages with anything less. Any advice?

likefunny

Hi all, how did you solve the retirement puzzle?

As an expat, I went on the Degiro for investing at the moment, since the account can be used from all countries.

Was considering to invest also in an insurance, but is apparently not possible if you live abroad and then maybe go back to the home country.

Have any tips?

like

First time building Roth IRA account. Stocks you think I should add?

like

Anyone get funded lately? Share so we can celebrate you!

I'm new to all this. Is it best to save 10% of my salary all in my company's 401k (with 20% match, increasing by 5% every year)... or saving 5% in 401k and 5% in a Roth IRA?

like

Hey guys, Can anyone please tell me if there is any restrictions on SPI in mutual funds in MS for employees.

like

More Posts

Has anyone had Marriott gift you the next level of status if you’re only a few nights short of the requirement at end of year?

like

Views on the way to Dreamforce ☁️

Post Photo
like

Hi PWC AC Bangalore folks. Can anyone please tell me how many days before they will share invite for joining day formalities.

TIA

like

Which is best company Among following to join after 6.5 year of experience considering wlb and culture

TIAA
Wipro
Predikly
Infostretch

Thanks in advance

like

Hi folks, I have 6.5yrs of experience in Java, Springboot, Microservices. Does anyone have any idea about Optum Global Solutions, Hyderabad. I was told that the Project which I will be assigned to is an IVR application responsible for middleware services and the shift will be from 2 pm-12 am. Any idea which project is it going to be and how is the work going to be? Do they expect us to extend beyond 12 am on a regular basis?

Optum Optum Global Solutions UnitedHealth Group UHG

Making the switch from plaintiff to defense L&E in January. Would love any and all tips from people who’ve made the jump (including partners who may have supervised these types of attorneys!)

like

Kindly help with 11 likes to support DM!!

likesmart

How is EXL HEALTH (SCIO) Chennai In term of WLB and job security, Pay for 4 years experience

like

Hi everyone,

Did anyone know the estimate salary for a Business Development role ( International Event Sales Executive) in Chicago?

Thank you in advance

like

Did you guys choose to join law enforcement or did you just kind of end up here?

like

I finished up with final interviews on Monday. Is it a bad sign that I’m still waiting to hear back today? Don’t companies typically reach out almost immediately with an offer if they choose you?

like

Hi All

I'm looking to join LTI
Is there anyone with AEM background who can help me understand quality of work and quality of projects that are aem specific

Hi Fishes,
Could you please shed some light on Manager(M3) role in L&T insurance domain.
Appreciate your review

like

Larsen & Toubro Infotech Hi Folks,
Anyone aware of Digital Engineering BU ? What is the wlb and what would be the office timing ?Larsen & Toubro Infotech

like

Can anyone please suggest any affordable apartments in Abu Dubai or any real estate agents to help me hunt for apartments.

like

Hey folks, need some help with PF details.

Let's say a person join a company X and then switches to Y after few years. Again switches to company Z after few months. Now the thing is both the previous employers provided Pf but the new company Z which is still growing doesn't have a pf contribution since it is starting out in india. What would happen to existing PF accounts if not withdrawn , will it earn interest? What would i need to do as an employee? Any timelines to follow?

like

Hello,

Can someone please tell how much % hike is given in s&p yearly for avera performance

Need your suggestions
I got offer from product based company and intiated notice period in TCS. Now manager is saying he'll intiate on site opportunity for Mexico. And asking to revoke notice only after official confirmation for Visa. What should I do now.
Offered CTC -9.3lpa
Cctc 3.6Lpa

like

Any one attended @Tiger Analytics MLE interview?

Need insights on online test round. kindly unicast!

Additional Posts in The Real Estate Bowl

I’m graduating undergrad in May and want to do real estate investing long term. Is it worth it to get my brokerage license in the state that I’m moving out of (I would want to do out of state investing) or should I just take a general real estate investing class. The goal would be to grow in knowledge about all things real estate. Also, any advice on real estate investing for a beginner would be appreciated!!

like

Interested in starting AirBnB in SoCal.
1. Where do I start for gaining how to knowledge.
2. What’s are the best areas to buy the property for best cash flow and appreciation down the line.

like

Need a recommendation for a solid real estate attorney in Columbus, Ohio. Someone who specializes in rental properties and evictions. Any help appreciated. Thanks!

like

Couples without kids, how do you justify buying a house and paying school taxes? Almost all of the good residential areas are with a high school tax. Just curious if childless couples can ever buy and live in nice areas or rent forever

likehelpful

Thoughts on Fundrise?

like

Hi guys! Looking to learn about real estate investing! I am a senior in college graduating with a degree in finance so I understand certain aspects, but am looking to learn more on my own about real estate specifically!

What books would you recommend I read?

like

Would you say Austin’s real estate market will go through a correction in 2022? I am considering there in a few months (wife and 3 kids) from a normal-priced city. While we can afford a house there, I am scared of getting into an extremely risky investment seeing such fast growing prices in 2021. I’ve read both bull and bear scenarios online and I’d like to get some “Bowl’s” thoughts. Thanks!

like

My clients wish to write a testimonial/review for my RE broker services. What is the best site/medium for this? Yelp? Google Review? Zillow? Facebook?

like

Commercial real estate question. When a residential property will likely zone commercial in the coming years, do we, the owner, wait for a buyer/developer to contact us?

like

How can I invest in real estate ? Looking for an additional passive income source

like

I have a rental property and my tenant is asking me to change the fridge light burb. I live out of state and don’t have property manager locally. Is it bad if I ask them to change the fridge light burb themselves?

I’m pretty responsive for things they need help with like laundry machine got broken or pantry doors fell off. So I had sent people to fix those maintenance and repair issues.

But light burbs? Srlsy? They are grown up people (fresh out of college girls)

likefunny

What’s a “true lead” in apartments.com. Im curious if they’re interested in our property or if they’re leads based on preference.

like

Any thoughts on this book?

Post Photo
likefunny

I am wanting to start investing in real estate in the new year… I’m using this month to read up on it and familiarize myself with it. I am a true beginner and wanted to ask for any tips, tricks, advice, books, videos, magazines, podcasts, etc to start? Please let me know!

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

I see two crowds these days. One thinks housing market will crash. The other thinks housing market will soar.

The contrarian in me makes me think this is a decent indication that housing market will stagnate (or increase minimally) for a few years.

As a general rules, I feel like the majority cannot foresee a crash/surge coming. The prevalence of such expectations would hamper the pre-conditions necessary for such a dramatic change.

likesmart

Are most new houses being built with induction cooktop? What has everyone experience been like? I personally had non compatible cookware with induction cooktop and wondering if I should just buy a new cooktop (electric, gas etc).. Other reason is that I read that it's also not healthy due to electromagnetic waves?

like

At what income level should one be comfortable to spend 2400/mo on rent in HCOL? Assuming single, no kids, no debt or major expenses.

like

What price per sq foot to investors start buying in the north ATX home? My home is on the market and not moving. Trying to understand at what price point does it become attractive to investors

Bi-annual plug to say I’m a realtor in Charlotte, NC if anyone needs help buying a home or investment property. DM me!

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal