Home Buying & Real Estate Thread

[yogetoffmykickz]

Loving all the knowledge being dropped.

I've considered purchasing in a different state, but being a landlord in Cali has left a bad taste in my mouth...

I couldn't imagine dealing with a tenant 1000's of miles away...

sneakaprince do you use a property management company.?

 

[Hank Scorpio]

After redeeming the debt, do you have to provide additional funds for a spot on the cap table? Or is the debt convertible?

Sounds like you're talking about a Debt/Equity swap. Usually when someone buys debt, there's an issuance of bonds for that debt. In most cases, the company cannot afford to repay those bonds for the debt I just purchased. Usually what happens next is equity is offered in conversion of that bond repayment. Now, this brings us up to swap ratio. Usually it would be 1:1 or 1:2 meaning bond holder will receive equity of equal value of bond (this is 1:1).

This may ultimately mean or conclude in imminent majority ownership via stakeholder equity. Obviously, this was explained on a very high level, but there's many finite details. Hope this answers your question.

 

[Hank Scorpio]

My bad fam. I'm trying to get it at all ends.

But yeah if you haven't bought a house you should get one

No shame is asking questions, bro. It's always a good thing when people ask questions. This career has enabled me to be financially independent. Some here know my background and know where I came from. Within the past 3-4 years, I've earned an income past 8 figures (getting close to 9). I started my own thing back in 2013 and have started to see full maturation of my investments recently. It's been very fruitful.

 

[sneakaprince]

Loving all the knowledge being dropped.

I've considered purchasing in a different state, but being a landlord in Cali has left a bad taste in my mouth...

I couldn't imagine dealing with a tenant 1000's of miles away...

sneakaprince do you use a property management company.?

Nah but I'm getting close. My last deal I had a minority party that was green and wanted to take on the property management aspect which was perfect for me. He still has access to all my people but he manages the day to day with tenants.

My other most recent deal was a triple net lease (because of it being used as a business). So once again no real landlording involved. I would use a property management company had those opportunities not presented themselves during acquisition.

I've personally managed 8-10 units on my own (while still managing a ft job), no problem. Anymore and it gets kinda tiresome imo. However, I have a team so I'm rarely on site anymore.

 

[Hank Scorpio]

So, anyone here have experience buying real estate in Europe and/or Asia? Not trying to buy a house, more so looking into condos/apts.

 

[アミーゴ]

So, anyone here have experience buying real estate in Europe and/or Asia? Not trying to buy a house, more so looking into condos/apts.

Yeah - Suisse

 

[Hank Scorpio]

Yeah - Suisse

In Zurich or Geneva? Was looking into Zurich, as that's where I'd want my home-base to be in EU. I'm out in London, Frankfurt, and Paris often these days and can fly out to these cities within a couple of hours, no problem. Seriously have started considering moving most of my money out there, and slowly transitioning any monetary footprint I have here in the US. I would even consider going as far as denouncing my American citizenship. I have an uncle who's a Hong Kong citizen, and has helped me begin establishing permanent residency status out there.

What was your experience like in Suisse?

 

[アミーゴ]

In Zurich or Geneva? Was looking into Zurich, as that's where I'd want my home-base to be in EU. I'm out in London, Frankfurt, and Paris often these days and can fly out to these cities within a couple of hours, no problem. Seriously have started considering moving most of my money out there, and slowly transitioning any monetary footprint I have here in the US. What was your experience like?

In Lausanne - close to Verbier, we love it and it’s appreciated well. Was out there for a year so had the opportunity to grab a flat - my parents are actually there now

 

[Grine]

Bloomberg Businessweek on Instagram: "● If you have a modest income but access to lots and lots of cash, New York City has an apartment ownership program that’s right up your alley. Even if it wasn’t meant for you at all.⁣ ⁣ ● The children of America

17K likes, 197 comments - businessweek on December 18, 2021: "● If you have a modest income but access to lots and lots of cash, New York City has an apartment ownership program that’s right up your alley. Even if it wasn’t meant for you at all.⁣ ⁣ ● The children of America’s wealthy are quietly...

www.instagram.com

 

[datznasty]

I hate to be this guy but I mowkey want/need to raise rent on my current tenants or just give them 60 day notice to vacant and replace the home on the market at current market rate.

The price they're getting ($1300) was too cheap when I first agreed to it but I was desperate after moving here to OKC and still paying the mortgage on that vacant home failing to sell so when the idea of renting presented itself and at 1300 I basically make a little more than breaking even after 10% mgmt fee I took it. But the market has been crazy, relatively speaking for a semi rural tumbleweed town in Oklahoma, and people in my same neighborhood with a smaller house than mine getting like 1800 a month. I could also sell too got a mice comp from my neighbor 2 houses down just fot 219k for his and mine is bigger with another garage and bigger lot. I know my tenants hella damaged the house more than probably keeping their deposit is going to cover too (mostly minor stuff like stains in the carpet and walls, baseboards, etc) so I am going to have to deal with that whenever that time comes. He told my realtor he wants to stay til May 2023 when he gets his last orders or can retire.

 

[jrp44]

I hate to be this guy but I mowkey want/need to raise rent on my current tenants or just give them 60 day notice to vacant and replace the home on the market at current market rate.

The price they're getting ($1300) was too cheap when I first agreed to it but I was desperate after moving here to OKC and still paying the mortgage on that vacant home failing to sell so when the idea of renting presented itself and at 1300 I basically make a little more than breaking even after 10% mgmt fee I took it. But the market has been crazy, relatively speaking for a semi rural tumbleweed town in Oklahoma, and people in my same neighborhood with a smaller house than mine getting like 1800 a month. I could also sell too got a mice comp from my neighbor 2 houses down just fot 219k for his and mine is bigger with another garage and bigger lot. I know my tenants hella damaged the house more than probably keeping their deposit is going to cover too (mostly minor stuff like stains in the carpet and walls, baseboards, etc) so I am going to have to deal with that whenever that time comes. He told my realtor he wants to stay til May 2023 when he gets his last orders or can retire.

Gotta do what best for you.

 

[Mark Antony]

In-lease raise sounds gross.

 

[datznasty]

I know. It happens, technically they're off lease so either way we're month to month they could drop me a notice they're going to vacate or I could give them a month notice TO vacate. Every apartment complex I have lived in has raised my rent when I hit this stage. I probably won't do a raise though more than likely if I do something it will be to vacate so I can try to sell

 

[headdetective]

sneakaprince you seem like a cat who about your business and know what you're talking about. What would stop you from hoping on this? I've been eying but reluctant to hop out there.

I need a multifamily under my belt though. ASAP.

https://www.zillow.com/homedetails/1221-N-Utah-St-Arlington-VA-22201/12074853_zpid/

 

[B Sox]

Seems like a no-brainer to me if you have the capital. That $8k per month it brings in should give you a nice spread with whatever your mortgage amount would be. Obviously gotta run those numbers though.

 

[アミーゴ]

sneakaprince you seem like a cat who about your business and know what you're talking about. What would stop you from hoping on this? I've been eying but reluctant to hop out there.

I need a multifamily under my belt though. ASAP.

https://www.zillow.com/homedetails/1221-N-Utah-St-Arlington-VA-22201/12074853_zpid/

good looks I might snatch this up

 

[ballinsam23]

That's hella expensive for VA wtf, scrolling down saw a 400k 1 bedroom condo. Had no idea VA asking for these type of prices. No way is the average income there that high.

I was looking at a building in Brooklyn with eight 1-2 bedroom units for 2 mil

 

[headdetective]

Right outside of DC, so it's gon be costly.

アミーゴ tell me more

 

[アミーゴ]

That's hella expensive for VA wtf, scrolling down saw a 400k 1 bedroom condo. Had no idea VA asking for these type of prices. No way is the average income there that high.

I was looking at a building in Brooklyn with eight 1-2 bedroom units for 2 mil

Arlington is across the water from DC - all the defense contractors there, Amazon, MSFT, Nestle, Google etc

 

[アミーゴ]

Right outside of DC, so it's gon be costly.

アミーゴ tell me more

I know that market like the back of my hand - I own in Logan

 

[headdetective]

Oh, you Money Mitch, I see you

So you'd agree that something like that would be a good investment? Short-term? Long-term? Both?

Would be my second property, first being a family joint I'm living in now, but I wanna make a jump thats gon splash and instantly show results....

 

[B Sox]

I don't spend much time in VA, but it's gotta be easy as hell to rent out a property in Arlington.

 

[headdetective]

I keep hearing that...

 

[B Sox]

That's hella expensive for VA wtf, scrolling down saw a 400k 1 bedroom condo. Had no idea VA asking for these type of prices. No way is the average income there that high.

I was looking at a building in Brooklyn with eight 1-2 bedroom units for 2 mil

That NoVA area is SIGNIFICANTLY different from the rest of the state. It's basically South DC.

 

[アミーゴ]

Oh, you Money Mitch, I see you

So you'd agree that something like that would be a good investment? Short-term? Long-term? Both?

Would be my second property, first being a family joint I'm living in now, but I wanna make a jump thats gon splash and instantly show results....

Long