What Questions Do You Have For Real Estate Experts?

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What Questions Do You Have For Real Estate Experts?

Dave MeyerPro Member
Head of Real Estate Investing at BiggerPockets · Seattle, WA · Member since 2015 · 224 posts · 826 votes

Hey Everyone, 

I hope you all have had a chance to check out BiggerPockets' newest series, On The Market. If you haven't you can find it here on Spotify or watch us and subscribe on YouTube.  The show is designed to help you understand the trends, data, and news impacting the real estate investing world, so you can make informed investing decisions. 

Anyway, in an upcoming episode we want to answer questions from the audience. So, lay them on me! Do you have questions about interest rates? inflation? macro economics? The metaverse? Let us know what you're thinking about, and we'll do our best to answer on an upcoming show. Thanks! 

 

Podcast Guest on Show #186
BiggerPockets
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Most Popular Reply

Duane Ward
Investor · Long Island, NY · Member since 2022 · 35 posts · 32 votes
4y

What are the risks of inheriting tenants and what steps should you take to safe guard your investment if they won't sell the property vacant? 

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  • Duane Ward
    Investor · Long Island, NY · Member since 2022 · 35 posts · 32 votes
    4y

    What are the risks of inheriting tenants and what steps should you take to safe guard your investment if they won't sell the property vacant? 

    26Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    4y
    Quote from @Duane Ward:

    What are the risks of inheriting tenants and what steps should you take to safe guard your investment if they won't sell the property vacant? 


    Hi Duane,

    One way would be:

    If you want it vacant, and they refuse, find someone else who will sell vacant.

    And on the day of close, before closing, walk the unit to make sure it's empty.

    Good Luck!

    6Reply
  • Patrick Gallagher
    Member since 2020 · 3 posts · 8 votes
    4y

    I'm in California, can I qualify to purchase a Fannie May HomePath Ready Buyer home with an FHA loan, if I own a $130,000 duplex income property in Cleveland, Ohio? I would intend on making the CA property my primary residence and meet all other requirements. I thought there was a loophole somewhere in there, though I know the HomePath program does stipulate you must be a first time homebuyer. I thought there might be something about that language that would make it still acceptable since the property in Cleveland is not my home.

    6Reply
  • Caleb Stevens
    Rental Property Investor · Jersey City, NJ · Member since 2020 · 49 posts · 33 votes
    4y

    Hi Dave, thank you for the new podcast!

    My question is, hypothetically, what trends in the market would we need to see in order for another Real Estate Bubble Crash to happen? And how could we, as investors, better prepare our rental properties for this?

    Thanks again!

    17Reply
  • Alex Gunnerson
    Real Estate Agent · Kansas City, MO · Member since 2020 · 95 posts · 119 votes
    4y

    I would find it extremely valuable if you could provide some of your favorite newsletters / instagram follows / twitter follows for staying current with trends in real estate trends.

    13Reply
  • Nicholas MischPro Member
    Investor · Broadview Hts, OH · Member since 2016 · 310 posts · 280 votes
    4y

    @Dave Meyer I listened to the first episode yesterday. Pure real estate gold! Thank you for putting it together. I am really looking forward to what you will be bringing to the podcast and using it to grow my business. 

    2Reply
  • James Moore
    Member since 2022 · 25 posts · 15 votes
    4y

    I am looking at bringing on an investor to help with he down payment on my first buy. How would one structure a deal with an investor? Assume the investor contribution was 10% of the purchase price how would I structure a repayment plan and what kind of gains would an investor expect in return?

    12Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    4y
    Quote from @Patrick Gallagher:

    I'm in California, can I qualify to purchase a Fannie May HomePath Ready Buyer home with an FHA loan, if I own a $130,000 duplex income property in Cleveland, Ohio? I would intend on making the CA property my primary residence and meet all other requirements. I thought there was a loophole somewhere in there, though I know the HomePath program does stipulate you must be a first time homebuyer. I thought there might be something about that language that would make it still acceptable since the property in Cleveland is not my home.


    You would need to live in the Cleveland house to use an FHA loan on it. Can't use FHA for non owner occupied homes.

    0Reply
  • Bailey Rentz
    Member since 2019 · 25 posts · 13 votes
    4y

    Do you have any metrics that might suggest how short term rentals will perform with rising interest rates?  Travel trends, etc. Thank you!

    1Reply
  • Alyssa McEwan
    Rental Property Investor · Salt Lake City, UT · Member since 2020 · 51 posts · 32 votes
    4y

    Hi Dave!

    I am soooooo excited for this series! :)

    1Reply
  • Alyssa McEwan
    Rental Property Investor · Salt Lake City, UT · Member since 2020 · 51 posts · 32 votes
    4y

    Dave, how long do you see these interest rates rising? I know that it was announced that they are going to rise a few more this year, but do you see them continuing to rise?

    What are some of the things that newer investors, with little or no capital, can do to still stay strong in the game and build wealth during these times?


    Thanks so much! 

    7Reply
  • Jonathan StonePro Member
    Rental Property Investor · Camas, WA · Member since 2020 · 284 posts · 202 votes
    4y

    @Dave Meyer - Is there a scenario with interest rates rising that causes institutional money to pull out of the real estate market to find better terms?  This is the only way I see a glut of investment property coming onto the market at once, so I am looking for what would have to happen with the spread to get large firms to change tactics.  Also what gain would need to be seen for institutions to pay the frictional costs to recover their capital?

    4Reply
  • Alyssa McEwan
    Rental Property Investor · Salt Lake City, UT · Member since 2020 · 51 posts · 32 votes
    4y

    @James Moore

    I love this question and I would love to hear the answer too being that I am in the exact same position!!!

    0Reply
  • Yoon Seokwoo
    Member since 2021 · 8 posts · 2 votes
    4y

    @Dave Meyer I think you are already doing this often but just want to mention I like you mentioning reference site or raw data in order to back up your conclusion on trend and etc.  

    By the way, where can I find average DOM for particular market or for entire US?

    1Reply
  • Dave MeyerPro Member
    OP
    Head of Real Estate Investing at BiggerPockets · Seattle, WA · Member since 2015 · 224 posts · 826 votes
    4y

    Thanks everyone for the kind words about the show, and for these great questions, keep them coming! We're going to take some of these are respond to them on the 5/2 episode of On The Market, so keep an ear out for that! We are so happy you're liking the show! 

    @Yoon Seokwoo Redfin has great data for that. 

    Podcast Guest on Show #186
    BiggerPockets
    2Reply
  • Monica Bianchi
    Member since 2022 · 4 posts · 9 votes
    4y

    is there an "estimated budget" for actually getting into these things? 

    0Reply
  • Tom Puiia
    Portsmouth, NH · Member since 2019 · 13 posts · 14 votes
    4y

    I would love to hear thoughts on the metaverse on a Real Estate Podcast. 

    2Reply
  • Emiere Scaife
    Member since 2021 · 6 posts · 0 votes
    4y

    How to determine repair cost for my first BRRR deal?

    0Reply
  • Andrew FreedBusiness Member
    Investor · Worcester, MA · Member since 2020 · 1k+ posts · 1k+ votes
    4y

    @Dave Meyer - What similarities do you see with the inflationary period under Paul Volcker (former fed chair) compared to the current fed? Do you think they will take a similar approach to combat inflation? 

    [email protected]781-964-3200Podcast Guest on Show 69 Doors from ONE Real Estate Deal Using Other People’s Money
    3Reply
  • Masha Rizzi
    Investor · houston, TX · Member since 2021 · 44 posts · 17 votes
    4y

    This is actually a super specific question (and I've posted it in the forums as well as on BP facebook groups without much response so I figured I'd ask here as well!) 

    Are there any tips or starting points for acquiring land that the city has purchased/condemned?

    Back story:
    I live in Houston and have a property (primary home) that is 2.5 lots on top of a hill. It's right on the edge of the bayou and in a flood zone (but no flooding because it's literally at the top point of the hill). The hill is also at the end of the street - so essentially my property is kind of like an island on its own with just my lot and surrounding vacant lots.

    The 2-3 properties lower on the hill were condemned for flooding and acquired by the city several years back. They've since removed the structures as well so they're just vacant lots.

    After acquiring those lots, the city talked about plans to build a parking lot for a nearby park there. The civic club of the neighborhood fought it so no parking lot was built. Ideally, we don't want a parking lot or anything built right next door to us in the future.

    So that brings me to my question: Has anyone purchased lots from the city that have been condemned? We don't have intention to build anything on them due to flooding, just want to avoid parking lots (etc) being built there by the city (so us taking ownership). Any tips on the process ? Is there even a process in place?

    0Reply
  • Carter Fleck
    Real Estate Consultant · Virginia Beach, VA · Member since 2022 · 26 posts · 22 votes
    4y

    When do you pull trigger on metrics surrounding NET Revenue.  I see so much about the 1% rule, Cap rates, etc. but at what point do investors use their "gut" or use a certain metric of Net Revenue (after financing) per unit/ whatever metric they use.  David Greene recently spoke about how there are certain properties you can sense are undervalued for various reasons or have intricacies that the market can't measure, which I appreciated.

    2Reply
  • Audrey Cosgrove
    Attorney · IL · Member since 2022 · 2 posts · 1 vote
    4y
    Quote from @Masha Rizzi:

    This is actually a super specific question (and I've posted it in the forums as well as on BP facebook groups without much response so I figured I'd ask here as well!) 

    Are there any tips or starting points for acquiring land that the city has purchased/condemned?

    Back story:
    I live in Houston and have a property (primary home) that is 2.5 lots on top of a hill. It's right on the edge of the bayou and in a flood zone (but no flooding because it's literally at the top point of the hill). The hill is also at the end of the street - so essentially my property is kind of like an island on its own with just my lot and surrounding vacant lots.

    The 2-3 properties lower on the hill were condemned for flooding and acquired by the city several years back. They've since removed the structures as well so they're just vacant lots.

    After acquiring those lots, the city talked about plans to build a parking lot for a nearby park there. The civic club of the neighborhood fought it so no parking lot was built. Ideally, we don't want a parking lot or anything built right next door to us in the future.

    So that brings me to my question: Has anyone purchased lots from the city that have been condemned? We don't have intention to build anything on them due to flooding, just want to avoid parking lots (etc) being built there by the city (so us taking ownership). Any tips on the process ? Is there even a process in place?


    0Reply
  • Audrey Cosgrove
    Attorney · IL · Member since 2022 · 2 posts · 1 vote
    4y

    This is a great question, you would likely be doing the municipality a favor by taking this property off their hands.  You would probably have to take it subject to a covenant that you never build on it.  However, long term, think about whether a new owner would want to purchase these parcels for which they will pay property taxes and not be able to improve.  If you know they are unbuildable, maybe just let them be. 

    1Reply
  • Ernest Wade
    New to Real Estate · Manteca, CA · Member since 2020 · 15 posts · 6 votes
    4y
    Quote from @Patrick Gallagher:

    I'm in California, can I qualify to purchase a Fannie May HomePath Ready Buyer home with an FHA loan, if I own a $130,000 duplex income property in Cleveland, Ohio? I would intend on making the CA property my primary residence and meet all other requirements. I thought there was a loophole somewhere in there, though I know the HomePath program does stipulate you must be a first time homebuyer. I thought there might be something about that language that would make it still acceptable since the property in Cleveland is not my home.

    Hey Patrick, 
    I moved back to California from Colorado a couple years back. I bought a condo in Colorado and turned it into a rental property. First thing I did when I moved back was I found a duplex in Sacramento to house hack and I was able to buy using a FHA loan. There was no aaaaissue with the lender
    0Reply
  • Cameron Holcombe
    Member since 2019 · 3 posts · 0 votes
    4y

    I closed a deal with a client months ago and they are now asking for the Fair Market Value of the home (I'm guessing for tax purposes). My understanding is that the FMV is basically the agreed-upon price from the seller to the buyer. is that correct? Also, is there a form to be filled out?

    0Reply
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