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Buying Investment Property Knowledge Base
Buying investment property and tax deduction? I am planning to buy an investment property, like a new condo, and to rent it out in the future when it is built. My question is if I borrow money to pay for the down-payment for the new condo and it will not be completed at least for a couple of years, then can I deduct interest for the money I borrowed for down-payment as it is not generating any income yet? Thank you
Is it always advisable to take out a mortgage when buying investment property or not? When buying land as an investment property, is it advisable to buy it cash if one can afford to or is it alway better to get a mortgage?
When buying a investment property, should i insist on looking at the tax returns filed for the property? When buying a investment property, should i insist on looking at the tax returns filed for the property to asseses the actual net operating income, which can give me accurate CAP rate.
Buyers pricing rule of thumb when buying investment property? I looked up the house I want to buy that is going way above tax assessed value (Seller wants 104k, but the tax assessed value is only 85k). Is tax assessed value a good idea on what to offer on a house?
Im looking at buying an investment property and need some advice? I'm looking at buying a particular property as an investment. It has a decent gross rental return (6%) but has been on the market for 6 months and has not risen in value over the last 5 yrs (as stated by the real estate agent). It is close to the town centre of a growing town, and has a very steep driveway. It is 10 years old. I intend to get a soil inspection to ensure the ground is ok, as the house is on a high. Should I make an offer, say 5% less than the asking price? Why wouldnt the property increase in value when all other properties in the area have? The asking price is 235,000, rental income is 270 a week. The current tenants have been in there for 5 years and are happy to stay longer. It is through a commercial realtor. I probably wont use a property manager as it is low maintenance and there are existing tenants. It is a quiet street, which isn’t far walk from town centre. I will get a building inspection
Buying Investment property-is spouses's name required on the Deed? When a spouse is buying investment property and the bank requires his name only on the Promissory Note, but her name also on the Deed of Trust, should her name also be added to the Warranty Deed as a Grantee, or should it just be her husband's?
Legal information required about buying an Investment property in the USA!? Hi, I want to know what is involved with buying an investment property in another country. Are you allowed to transfer the rent money to Australia or does it have to remain in the US? If anyone has already done this could you please share your experience with me! Cheers!
Thinking about buying investment property to rent out. Is it worth it? I found a house I'd like to buy and rent out. Is it worth the trouble? If you've been a landlord before any advice?
We are buying an investment property. With little to put down, what is the best way to finance the property? We have a large amount of equity in our current house. We have no bills other than the mortgage on our current house. Is a home equity loan to get to the 20% down payment and then a conventional loan on the investment property itself the best way to go? Or is it best to finance the investment property itself rather than using the equity in the primary residence. We could finance 100% of the loan purchase price or do a secondary mortgage to come up with a 20% down payment.
Creating current condo into a rental while buying new investment property? I want to buy a new property for more room (family expanding) but I would also like to keep the one I own (condo 1bd/1bath) as an investment for years to come. As of now, I would taking a hundred to 2 hundred dollar loss each month. I also plan on refinancing the current place to hopefully break even. How hard is it to get approved and is there anything I should do before I start trying to make the move? Thanks in advance. use full links are welcomed too!!!!
Thinking of buying an Investment property in Invercargill New Zealand.? We are thinking of buying an Investment Property in Invercargill. With the Real Estate prices that we have seen there and the exchange rates against the N.Z dollar, it seems to us like a good investment. Can any of the locals give us some idea of which areas might be better locations than the others. We have seen several properties online for sale in Appleby, they seem very cheap, is there a reason for this? Any help would be gratefully appreciated.
What are the basic rules for buying investment/rental property in Ontario? Particularly, what is the minimum downpayment required (%), and any blatant rules to adhere to for buying a house or condo to rent out?
Tips for buying an investment property? Hello. I would like to buy an investment property. Either a cheap unit or cheap holiday house. Does anyone have any advice or words of wisdom? Preferably answers from Australian people due to market knowledge of this area. Thanks
What do you look for when buying an investment property to rent? Any pointers? Like cheap houses to fix up and rent out.
If I am buying an investment property, what sort of contingencies should I ask for when making an offer? Of course I will need a mortgage contingency and a provision for inspecting the house etc. What others could you think of?
I have a line of credit,is it wise to use it to buy an investment property,to take advantage of buying chash? also what are the risks involved, I'm planning in paying the line of credit off in the first five years.
My sister and I are buying property together, is there a tax form that will allow both of us to claim? My sister and I are Buying investment property together can we both claim as a write off on our taxes? Is there a particular form that we would need to fill out. Its a partnership 50-50.
Where should I form an LLC if I live in New York and I'm buying an investment rental property in Tennessee? I'm buying a rental property in Nashville, Tennessee. I live in New York and I would like to form an LLC soon. Should I form an LLC in New York or Tennessee?
Thinking of buying an investment property in Myrtle Beach? and I was looking for a "calculator" that gives me a payback on such an investment.
it is worth buying an investment property in ipswich??? i am looking into buy a cheap small unit in north ipswich (south east queensland) and renovating the inside and after a year using it as an investment property and buying another house. does any one know what the potential growth of that area will be in the future? is it worth doing??
I am looking at buying a second property for investment what type of down and interest rate should I expect? I have an existing mortgage and good credit. Not a lot to put towards a down payment on an investment property. What kind of interest rate am I looking at? A percentage point or two higher?
advice for buying an investment property and renting it out? we are wanting to start a joint investment portfolio and are looking to spend upto $100K aud on Tasmania's west coast to buy and fix up a place and then rent it out to one of the local miners but are looking for advice as to what we do if there is a problem and even some general advice......this is dead genuine and as such please only give genuine answers. thanks very much Mitch and Laura
buying an investment property with my father living there? my question is that I'm buying my father's house due to his personal financial situation and he will continue living there paying less than my monthly mortgage payments. can I pay him a property mangement fee and have it legally tax deductible? EXAMPLE - my monthly payment will be $865. He will be paying $700 per month (loss of $165 per month). I want to pay him a property management fee of $105 per month (losses totaling $265 per month). can this $265 be written off along with all other deductions allowed by the IRS?
When realtor buy an investment property and put their realtor rebate back to the settlement, is it taxable? I have two answer. 1) If put back to settlement, it is not taxable. It only reduce your purchase price, when you sell your investment property, you have to pay tax. You only need to pay tax if you get check directly from the builder. 2) Another group think 1) only apply to second home. For realtor buy investment property, even realtor put rebate back into settlement, they still have to claim it as income and pay tax on it. Which one is true, any website as support document? Thanks. If the law will be different from state to state? I am in Maryland.
I'm wanting to buy an investment property in Tasmania? I'm looking to buying an Investment property. I know nothing about buying Investment property's & need help into taking the right steps. I was thinking Tasmania, any ideas?
Who are some good nationwide hard money lenders for buying investment property? Anyone know of any good sources for such hard money? I am speaking for buy investment single family homes and also buying, apartment building all the way up to 6 units. For example, will anyone still base the purchase money loan based on a strick 65% of the current appraisal value of the property, and be satisfied with their security of their 65% LTV or allowing a seller second mortgage for the balance. I know that these types of loans were being done as long ago as 10 years ago or longer, and more than likely even in recent years. I also know that lending guidelines have become more conservative lately. But what I also know is that there are usually some lenders out there who are willing to do some loans outside of the box. So my question is simply whether anyone knows of any such lenders who loan nationwide.
Is Turkey property a good overseas real estate investment? We are thinking of buying property for sale in Turkey. Our property search in Turkey may include villa, apartment and land properties for sale in Belek, Side, Alanya, Antalya, Kemer regions. What region is better for buying investment Turkey Property and is buying a turkey villa or turkish apartment for rental worth the while.
What are the downpayment guidelines when buying a multi-unit investment property? Is it different from a primary home? I am interested in an apartment building to purchase as an investment. What are the guidelines for downpayments on an investment property. Is it the same as a primary home? I have heard that it is not the 10-20% minimal downpayment because if all/most of your units are occupied, this is taken into consideration. Websites are appreciated too. Thanks for your help.
What are the important steps to take when buying into an existing investment property as a partner? This is an established property managment business renting apartments to graduate college students. I would be buying a 49% position in a LLC. The existing owner would retain the other 51% and would also manage the property for a fee. Our goal would be to sell the property at the end of 3 to 4 years, when the 51% owner is ready to retire and when my son is finished with his graduate program at the same school.
Does buying an Investment property lower your credit score? after purchase? I ask because I want to eventually get up to 5 properties and I want to know if it's possible when my score is currently 706. I will be getting the properties thru a mortgage, and of course I plan to pay it on time. My question gears more to when I go to get the second property, will the first property I have affect my credit score in a negative way preventing me from getting a second property, third, etc.?
Can you buy investment property using a first time home buyer type mortgage? I'm interested in buying a house to rent out, but am wondering if it is possible to get a loan that is not dubbed "investment", which usually requires up to 20% down payment and carry a higher interest rate than regular mortgages.
Buying investment property before you own your first home? Can you buy investment property while still renting? I am wanting to purchase my first positive income investment property (in another state) but am still renting. I would be using equity from my parent's property portfolio for the deposit. Is there a 'catch' (tax-wise) in doing it this way? I have read books on property investment but they all assume one owns their own home already. Actually chats... I would have to disagree with you there..... having a portfolio of investment properties in several states and areas is a very good idea investment/tax-wise... There is a set strategy (the 20 must ask questions) to buying positive income property so that you can guarantee you will get more money back on tax that the property cost you and you can calculate it all before you even buy the property. Most property investers focus on negative gearing, but this doesn't guarantee a positive income! PS. I'm in Australia, not USA... You are right about the loan interest rates yeah, plus I would miss out on the first home owners grant so yeah I might be better off buying a live-in property first - only haver to live in for a year anyway then could rent it out...
What do I look at when buying investment property? I have been talking to my brother in law about buying some properties for investment in Sacramento, Ca. He found some condos in Natomas for under $100,000 which to me seems strange because if we bought it at $75,000, it would be about a $500 a month mortgage. To me this seems too good to be true if it is this cheap because who can't afford a mortgage this little. So what questions do I ask about these properties? What should I look for? For some reason many think that everyone here that has a question doesn't have their finances under control. I do. I have cash flow to cover if we don't get a tenant. We have $1000 on credit cards, have a $530 car payment, and make $85,000 a year. So what should I look out for?
buying an investment property in Sydney? Im interested in buying an investment property in a new suburb Oran Park, NSW , do you recommend buying a new house in this area for an investment property....I will be using equity from my house ...also another question is should I buy the land can I borrow money from the land to build the house.....please let me know your thoughts...thanks in advance
do you think its a good investment buying property overseas,particulary south america?we r from aus?
I'm buying an investment property from a numbered company - should I know the name of the owner? or is it "not my business"? I do not even know the name of the person owning the company that owns the property I'm buying. Is it important that I get a name? THANKS.
Which makes more sense? Buying multiple smaller investment properties or saving for a big muli-unit property? Which makes the most financial sense? 1. Buying single-unit homes (<$200,000) and renting them out 2. Saving up to buy a multiple-unit home ($400,000+) to rent out Saving to buy a multi-unit home could take many years- why not just purchase cheaper homes every several years?
If I want to buy investment property in PA and I live in NY, what is the best way to set things up? I live in NY. I want to buy investment properties out of state. I already own an S-Corp for my Internet marketing business. Should I form a new corporation or some other business as a tax shelter in case I want to invest elsewhere as well? Does it make sense to form a new company?
A group of friends are buying an investment property 2 rent & home inspection showed some bad things wrong.? Should we ask the owner to fix them and risk losing the home or should we get a 1 year home warranty with $100 deductible and will that cover new HVAC, gutter, and things of that sort with $100 deductible for fixing each thing?
Should I use a HELOC to buy investment property? With the real estate market in a rut, I want to buy one or more investment properties. I can take out a HELOC for about $50K for prime minus one. I would use this to put money down and then borrow the rest in an investment loan. However, I don't want to open too big of a HELOC and restrict my ability to get an investment loan. What is the best strategy and were are some good guides to turn to in this area?
Is it better to buy a newer home or older home for investment property? Im currently looking at buying an investment property. Am doing some research, and in general is it better to buy a new property or older property? I look at this investment as a long term investment and dont plan on selling my rental property anytime soon. Thanks to all those why answered.
Buying an investment property, your thoughts?!?!? I've been thinking for awhile of buying an investment property and renting it out to somebody. Would this venture be too risky? Should I just keep investing in the stock market? I would only buy a place that I would want to live in and maybe one day I will move out and move into this place myself. Tell me your thoughts.
What are the best resources to learn how to buy an investment property and become a landlord? I want to weight the pros and cons of buying an investment property to rent and possibly live in, probably an older duplex. Any experiences or resources would be helpful.
How do you buy investment property with a home equity loan? My husband and I are thinking of purchasing an investment property by way of using a home equity loan on our first home. Is this a smart thing to do? what are the down sides of it? We don't have money of our own in the bank to do it, but it seems like a good time to take advantage of the changing real estate market.
Is Turkey property a good overseas real estate investment? We are thinking of buying property for sale in Turkey. Our property search in Turkey may include villa, apartment and land properties for sale in Belek, Side, Alanya, Antalya, Kemer regions. What region is better for buying investment Turkey Property and is buying a turkey villa or turkish apartment for rental worth the while.
Questions about getting a loan for investment property? A friend and I are going to try to get a loan for investment property. The properties that we are looking at are all under 20,000. They are condo's, and townhouses. We are going to rent them out. My question is: 1. How much will the bank require us to put down? 2. How long will they finance it for? 3. Will they do 30 years of financing/ 4. Is buying investment property any different from buying a regular home. 5. Does anyone recommend any bank? Especially in NC
Is it wise to buy an investment property with a friend? I'm planning to buy an investment property when I'm 18 (16 currently) and rent it out. I've brought up the topic at school and some friends have expressed some interest. When the time comes should I buy the property with a friend? the worry I have at this is when the property appreciates in value, we might have different idea on what to do with it. What are your thoughts? would you do it?
18 year old buying investment property to be rented? Hi, I just turned 18 and I am eager and very interested in real estate. I was wanting to purchase a property in my area and rent it out. I know that I have to be careful and make sure I charge the right amount and save most of it incase of vacancy, etc. I was possibly thinking of a mobile home, because I can get about a 8 year old mobile home in my area for about $20,000. How would I get financing for this property and should I be looking into foreclosed homes or mobile homes to start out? I have about $2,000 in savings that I am willing to put down on the property, but have no credit and my income from my part time job is only 300 a month, which would cover the cost of property each month and insurance, but I know that the bank will say that isn't enought, due to other cost in life. Would they consider the fact that it is an investment property or how would all this work being 18, no credit, $2,000 cash! Thanks
Buy investment property with or without an LLC? Currently I own my home and I am looking to buy another as an investment. For protection and tax reason I heard it is best to own the investment as an LLC. Is it better to buy the investment property under my own name and transfer to the LLC later? Or should I start an LLC then buy the property?
How can I buy an investment property and receive cash back at closing? I heard a TV real estate guru say that a person could buy property and receive cash back at closing. Anyone know how this is done?
Is now a good time to buy an investment property? Buy investment property now?
What's the best way for 3 people to buy an investment property? We were going to form an LLC and buy it through there but someone told me that an LLC cannot buy property, and that one of the 3 people would have to buy it. Is that true? Can you then transfer the property into the LLC? Would you want to do this? How is this taxed? What is the best way to go about this?
How do you buy an investment property with an LLC? I purchased a investment property then formed an LLC. I was then warned that if I transferred ownership that I would end up causing myself a lot of problems with the mortgage company. I am about to buy a second investment property and want to do it right this time. Do I obtain the loan in the name of the company?
Rental property does anybody have experience in buying property for investment in Spain if you have experienc? Can you please pass on any information ie what sort of rental season you can expect . And should you pass the details to a rental management co or should you look to try and fill the dates yourself. What sort of return would you expect on your investment and is ther any drawback with doing this
As a married woman can I use the equity in my house, which is titled in my name, to buy investment property? I want to know if I can use the money in my home, bought when I was single, to make an investment without involving my husband?
I'm buying an investment residential property, Do I buy it in the name of my new LLC or Personal Name? My LLC has just been established; however it has no assets and little credit history. However, I was told this is a great way to limit personal liability. What do you suggest? Also if your answer to transfer it into my LLC after I purchased the property how does that work and is it hard to do? What is the cost?
Buying property for investment. Where? My wife and I are planning to buy property of investment. Maybe a 2 bedroom apartment unit. The only thing is we cannot decide where. We are presently only considering Singapore and Australia. Singapore rentals are very high. The tax is low. And the loan rates are low(er). However, the prices are on the upswing. There is a possibility that we might not be able to rent out the unit. We are also considering Australia as we might retire there. Specifically Brisbane or Melbourne. And the property prices have been shooting up so fast, we are worried that if we do not buy now, we will not get a chance. There is also very low vacancy rate so we are quite sure to rent out the unit. However, the taxes are high. There is even a tax on the rent itself. And the rent is nothing great. So any advice?
when is the best time to buy investment property? I like how far property values have dropped in long beach , ca but my friends are talking about the Go Zone where the big hurricains hit the gulf coast.
Can you name any of the famous no money down techniques to buy investment property? such as single family homes that would be kept as rentals? I am speaking of the no money down techniques that do not involve obtaining a mortgage from an institutional lender. how would these techniques work?
How do I buy an investment property with no money down? How do I buy an investment property with no money down?
Where are the highest rental returns in western australia to buy an investment property? We want to buy an investment property in Western Australia. We know that in Hedland and Karratha the returns are at about 10%. Probably not much potential for capital growth though, especially in Karratha. Are there any other area's with these rental returns? Are there better options than Hedland and Karratha? Any other thoughts??
How to form a compny for an investment property ? I am planning to buy an investment property. All my instincts say that it would be wise to form a compny for that. I am pre approved for a mortage but I have no clue how it works. My question is Mortgage company approved me not the new company that I am planning to form, which I will use to buy the property. How does this technically work can someone help me please ?
Cash or mortgage to buy an investment property? I have cash to buy an investment property but I heard it's better to set up a mortgage for tax purpose. Can anyone explain the reson why? It is said that setting up a mortgage is advantageous because the mortgage interest is deducted from the rent income, so there is a tax benefit. However, by the time you pay up the mortgage you will end up paying a few times more than the actual sale price. Is it still a good idea to set up a mortgage? If so, why?
What do you think about buying a property abroad for investment? Countries like Bulgaria, Hungary and Poland have just joined the EEC and are growing at a very fast rate...could buying a house there be the right thing to do?
I want to buy an investment property, Is it better to use the equity in my current home as down payment or not If I buy the home at $175,000 (that is a starter home in my area) and put no down payment down, the mortgage would be about $1140/month using the interest rate in my area(6.9%) when I add in property taxes and insurance and maintenance plus my profit (25%), it would be about $1850/month. Who on earth would pay that for a 3 bedroom 2 bathroom house with no basement and 1/4 acre? How could anyone put no money down for an investment property and still rent it out for profit? FYI- our starter home in this area has gone up about $40-48000 in 2 years. The area is very hot. What to do?
Buying house as second home or as an investment property? Which one is better? What is the difference between buying a house as a second home or as an investment property? Which one is better from mortagage rate and insurance stand point? Are there any advantages of one over the other? I heard that mortgage rates and home owners insurance is less on 2nd home. Can a house bought as a second home rented out after the purchase?
Is buying property in bulgaria a good investment? I have bought a studio apartment apartment in bulgaria thinking it was a good investment, but now some people are saying it might not be. I'm a bit worried as I've put all my savings in to it. Can anyone help?
How can I buy an investment property? I just bought a home with the VA. I want to buy another property a year from now. Can I use an FHA loan to buy it and rent out my VA property?
Is it better to buy a home before an investment property? Or vise-versa? I was thinking of buying an investment property to rent out. Which would look better for applying for the second? Does it matter? There would be a loan on both.
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