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1
Posted on 1/3/21 at 9:42 am to Fat Bastard
Those of you with rentals. How has the no eviction regulation affected y’all? Anyone have a tenant that stopped paying that you can’t evict?
Posted on 1/3/21 at 9:49 am to jimbeam
quote:
This whole “government telling me I can’t evict a non payer” is really giving me second thoughts.
only through january now supposedly. i have had no issues. not to say others have not. may require different leveraging strategy for less exposure. plenty options.
quote:
Tack in potential 1031 changes
legit concern. but only if you have problem buy n hold properties you want out of or unless you want to capture appreciation and leverage up to a bigger property without just adding bigger property to your existing portfolio. legit concern tho. absolutely. i agree. but it is not stopping me. i am referring to buy n holds on the taxable side here. my flips are tax free anyway because they are in the tax free account.
quote:
Someone please change my mind
you are losing out on possible killer cash flow and/or capital gains in a tax free account by inducing analysis paralysis. unless you plan on doing a ton of 1031 exchanges only, you are losing out on buy n hold cash flow and cap gains from flips whether in a taxable or non taxable account. I think you are simply overthinking it.
LINK
This post was edited on 1/3/21 at 10:06 am
Posted on 1/3/21 at 9:51 am to tigersfan1989
quote:
Anyone have a tenant that stopped paying that you can’t evict?
no. toughest period was back in april. had a few who paid late or were on a payment plan. they caught up quickly. no issues. no need to evict.
Posted on 1/3/21 at 9:57 am to Fat Bastard
i have one this past month that decided the didnt want to pay last month. Still has job, wont answer the phone nor call and discuss. I was a little disappointed that the eviction moratorium extended
Posted on 1/3/21 at 9:58 am to Fat Bastard
Fat bastard do you have a managing company for your properties or do you self manage?
Posted on 1/3/21 at 9:58 am to Athletix
quote:
Rent ROI is just part of it.
Can you expand on the tax part a little? Thanks
Posted on 1/3/21 at 10:09 am to lighter345
quote:
It’s such bullshite you have to be affiliated with a broker. I’ve looked into it as well.
i almost wanted to make it a thing but gave up. it's just insanity
Posted on 1/3/21 at 10:12 am to tigersfan1989
quote:
do you have a managing company for your properties
yes because my RE business is nationwide. Also, once you get a bunch of properties and you buy right with PM fee baked in to your positive cash flow numbers it is no issue. if anyone is crying over PM fees making the difference whether a property cash flows or not means they bought WRONG plain and simple.
Posted on 1/3/21 at 10:30 am to TheOcean
quote:
There's no way the market doesn't correct itself within the next year or two. Prices are insane everywhere
patience and TIMING. when prices drop again depending what micro market you are in you scoop them up again. all my buy n holds have appreciated greatly but i am not selling. these are my cash cows. they are for cash flow. unless somebody just gives me an insane amount of money i am not selling them currently. also do not be limited to just your area. invest all over. go where deals are.
Posted on 1/3/21 at 10:44 am to Fat Bastard
Ever pass on any deals due to liquidity or timing issues? Could always send those my way for an appropriate fee...
Posted on 1/3/21 at 10:51 am to TheOcean
quote:
It's been quite a learning curve, but we are making a killing on the SFH/duplex. We also got incredible deals.
I feel like this is the key and why I'm not getting in at the moment. I'm sure there are deals out there in my area, but I don't have access to them and I just can't stomach throwing down 30+k on something I'm hoping to break even on cash flow wise.
Posted on 1/3/21 at 10:54 am to Fat Bastard
So what exactly is your involvement if you have a property manager? What decisions do they call you about and what kind of decisions do they make without asking you?
Posted on 1/3/21 at 10:55 am to Fat Bastard
quote:
also do not be limited to just your area. invest all over. go where deals are
This is a lot easier said than done.
I will say there are two other market areas I’m looking at but I think timing will be key in these areas for a few reasons. I’m really curious of the foreclosure process moving forward, too. Have not jumped into that yet.
Posted on 1/3/21 at 11:51 am to jimbeam
quote:
This whole “government telling me I can’t evict a non payer” is really giving me second thoughts.
I live in California and would never be a landlord here. Aside from the pandemic induced moratorium, the laws overwhelmingly favor tenants, and evictions typically take 3 months. frick that.
Posted on 1/3/21 at 12:15 pm to 632627
quote:
Fat Bastard
Curious what percent ratio you target when looking for a property? I frequent Bigger Pockets and they continually mention 2% with a small few saying 1% ($100k should rent for at least $1k monthly). These percentages are nearly impossible in properties available to me.
Posted on 1/3/21 at 12:43 pm to GAFF
1% minimum. mine are higher than that tho. while you can use ROI for flips the biggest numbers in buy n hold are positive cash flow and COC return. those % rules are all relative. if you like the price point, the PCF, and the COC you go with it. you want good RTV.
This post was edited on 1/3/21 at 12:50 pm
Posted on 1/3/21 at 12:44 pm to 632627
quote:
live in California and would never be a landlord here. Aside from the pandemic induced moratorium, the laws overwhelmingly favor tenants, and evictions typically take 3 months. frick that.
like in the checklist in my RE thread. one of the golden rules is be in a landlord friendly state. yeah f cali. agreed.
Posted on 1/3/21 at 12:47 pm to lighter345
quote:
Ever pass on any deals due to liquidity or timing issues? Could always send those my way for an appropriate fee...
Be careful, state law requires the receiver of such a fee to hold an active real estate license.
Posted on 1/3/21 at 1:34 pm to Fat Bastard
quote:
1% minimum.
Virtually nothing in my area would rent for anything close to that outside of condos, and with those most if not all of your income after PI&E is eaten up by condo fees.
The only thing I can fathom generating 1% is a shitty double, in a shitty neighborhood that would attract shitty tenants.
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