Not real estate savvy Real Estate |
- Not real estate savvy
- How long after a sheriff's sale until it's no longer considered a valid sale. Ohio
- Can someone really dumb down (I.e - a true 'ELI5') how taxes and depreciation affect rental property numbers?
- Prescription medication possibly stolen during an open house.
- Property Title (NY)
- Looking for Career Advice in the Industry
- Our Financing Fell Through (Missing Document) Can We Make a Re-offer?
- Replacing aggregate concrete driveway with asphalt
- What Due Diligence to do when closing a deal?
- Afraid to buy a house(FL)
- [NC] I have inherited one acre of land.
- Contingent buyer question
- [Chicago] Steps to do New Construction in One Loan
- Upkeep on land that's owned?
- How to change name after AoS is accepted?
| Posted: 09 Dec 2017 02:05 AM PST We want to rent some space. It can be the almost in the worst place. Not a murdering gang rat infested fire hole location, but doesnt need to look pretty or be new or have location. Need very cheap. Dont need to sell out of it. Just roof doesnt leak place. How can i find this? How do i educate myself? How do i negotiate? How do i know what is the lowest price? [link] [comments]  |
| How long after a sheriff's sale until it's no longer considered a valid sale. Ohio Posted: 08 Dec 2017 05:51 PM PST My wife and I enjoy flipping houses on the side but have struggled to find properties in our rural area. We've done one already but it's been 6 months since anything flippable had come up. We turned to the local sheriff's sales and successfully purchased a property. We won the sale on the 21st of September and didn't hear anything for almost 9 weeks even after reaching out to the sheriff's office several times. They finally said they made contact with the bank's lawyer and it should be taken care of the following week. It's been 2 more weeks since then. My question at this point is how long do they have to deliver the property? Are we on the hook until the bank sorts their issues out? We were told 3-4 weeks originally which would have allowed us to do the outside work before winter. Now we're concerned that we haven't been able to fix the exterior issues and have no idea if the place has been winterized. I should clarify that this was a real property sale, not a lien sale. [link] [comments]  |
| Posted: 08 Dec 2017 08:54 AM PST I have long considered buying rental property in my area to diversify my investment portfolio. I live in Minnesota. I like the idea of owning land/housing, I'm handy and can fix most common maintenance issues, and I think it would be a nice addition to my investments. I was discussing this with my parents the other day, people who have owned many houses and rental properties over the years, and they are adamant that rental property sucks as an investment when you consider the taxes and depreciation you must recapture. According to them, those factors ate away at much of their return on previous houses. Can someone really dumb down this concept for me and how it affects real returns on investment property? I just can't seem to grasp it when they explain it to me. Thanks in advance [link] [comments]  |
| Prescription medication possibly stolen during an open house. Posted: 08 Dec 2017 07:04 AM PST As is stated in the title, I recently had an open house sponsored by my real estate agent and I a pretty certain some of my prescription medication was stolen. I am wondering how I should handle the situation? A little backstory, I live in Utah and am working with a really supportive and responsive agent to sell my house. Of all the agents I've worked with in the past this one is one of my favorites. They're very responsive to any concerns I've had and have worked diligently to market my house. I've been impressed with their efforts and I don't think they have any blame in this situation. I have a prescription for anxiety that I don't have to take every day. I'll go months between use but I always keep it in my medicine cabinet. I went to take some today and it was missing. I looked through the rest of the cupboards and couldn't find it. The last time I remember seeing it was the Sunday before the open house. I'm pretty certain that it was stolen during the open house since I live alone and no one has been by to see the house since. Does anyone have any advice for me in how or if I should approach my agent about it? The prescription is not particularly expensive but it is addictive when used incorrectly. My name is on the prescription tag so I am wondering if I need to report it to the police as well? Thanks for any advice... [link] [comments]  |
| Posted: 08 Dec 2017 11:26 PM PST Hello, my mother has a house in New York City and has asked for my help in obtaining the property title so she can go over it and see if there are any issues. I literally have no idea how to do this. I found the property deed but I'm pretty sure that's not the same thing. I can't physically go to the county clerks office and get a physical copy since I'm in a different state. I'm not against having to pay a company to do a title search for me but I don't know which online services are reputable and wouldn't mind saving the money if it's something I can do myself. If anyone has any instructions on how to do this, help! [link] [comments]  |
| Looking for Career Advice in the Industry Posted: 08 Dec 2017 07:33 PM PST This is going to be a little long-winded, so please bear with me. I have made the decision to go all-in on Real Estate and I am trying to see what is the best way to set myself up for the future. A little background on myself for context, I am about to turn 26 and will be working primarily in and around Columbus, GA. I have a background in Accounting, but do not have my CPA or MBA. I have worked in a corporate environment with great benefits, and I have been a small business service provider. I have come to the conclusion that I never want to go back to the corporate world without my back being against the wall. Some of my strengths are risk management and finance. My biggest weaknesses in real estate are currently cold calling, and networking. With that in mind, where should I invest some of my resources to get me off on the right foot? Some sweat equity that I am currently spending my time doing: 1.) Building lists of prospective sellers to contact through Pre-Foreclosure and Absentee Owner data, as well as FSBO listings. 2.) Checking sites like Craiglist/FB for deals. 3.) Driving for Dollars and knocking on doors. So obviously, deals are possible when doing just that if I work hard enough at it. But where should I really be investing my money? Some things I have considered: 1.)Advertising (Direct Mail and Call Fire Campaigns) 2.) Building a Website 3.)Get my Real Estate license 4.) Become a Certified or Licensed Appraiser 5.) Learn/Apprentice/Invest in a trade that is necessary in most rehab properties (carpentry, roofing, plumbing, etc.) 6.) Proper Real Estate Photography equipment There are obviously a ton of options that I didn't list and no right answer to this discussion so I appreciate anyone who takes the time to read and respond. Thanks in advance! [link] [comments]  |
| Our Financing Fell Through (Missing Document) Can We Make a Re-offer? Posted: 08 Dec 2017 07:54 AM PST Edit: located in Ontario, Canada. Pretty much what it says. My Fiance and I are first time home buyers. We were pre-approved for $350, found our dream house, and put in an offer. It went back an forth a bit: I'll outline in case this is important 1.) house listed at 299,999 - offered low at $260 based on market, the sellers waited until 30 min before offer expired to respond with a firm $299. 2.) offered $280 - same response. 3.) offered $290 - seller came back at $294, which we accepted. I recently changed jobs, but our mortgage adviser said it would be no issue....well we've found out in more ways than one it is. I was not able to provide the past two years income tax reports (just T4s) and even with a large down & parent co-signing the lender declined to submit us for approval by the CMHC (mortgage insurance - which was required in this case). I'm heartbroken, as this is pretty much all my fault. The house has been on the market for over 100 days, and is vacant as the sellers have moved to a new province (if that matters). My question is: if we were to let the seller know the true reason for the offer falling through, and let them know we wanted to come back in when we had all of our required documents is it possible they may still consider us, or have we lost our chance as we now seem untrustworthy? Edit: in case this also matters - this was all over the course of two weeks, so the house has still been listed online, but our offer has only been active since Monday (4th). Edit 2: whoops, forgot to include - co-signer was a last ditch effort to get this through without the documents. We don't require them if we had them. [link] [comments]  |
| Replacing aggregate concrete driveway with asphalt Posted: 08 Dec 2017 07:25 AM PST Will this affect my home value i.e. How you appraise asphalt versus concrete Location: Greater Seattle [link] [comments]  |
| What Due Diligence to do when closing a deal? Posted: 08 Dec 2017 08:04 AM PST Just curious, what are your top due diligence checklist tasks when purchasing a new home? A visit to the city's planning and permit department is a top one for me! I myself am in Ontario, Canada. [link] [comments]  |
| Posted: 08 Dec 2017 02:31 PM PST I recently bought a house, I had a really good deal on it and shortly after my psychologist had me involuntarily and wrongly committed to a psychiatric facility. This resulted in me losing my job, my credibility and eventually my house. The courts found I was detained incorrectly and let me go. I had no other recourse to sue the hospital. However I'm afraid to buy another house because of the states involuntary commitment laws. [link] [comments]  |
| [NC] I have inherited one acre of land. Posted: 08 Dec 2017 11:29 AM PST I hope this is the right subreddit. I've inherited one acre of land and I want to convert it into something that can earn me some extra money. I've thought about getting it set up for 2 mobile homes (the maximum allowable per acre in North Carolina). It already sits at the end of a small trailer park. There are some trees that need to be removed. I've heard some companies will remove the trees for free but I don't know if that's true. How much would something like that usually cost? Would they just take the trunks and I'd have to have to remove the stumps separately? The land also doesn't drain water well enough to allow a septic tank which from my understanding means no one can live there. Please correct me if I'm wrong about that. Is it possible to pay someone to make it so the water drains like it should and what would you call that service? I assume the answer is "get an estimate". The county said they plan to install sewer pipes through the area within 20 years and that was about 15 or 20 years ago. I don't know if they ever did or how to even check. Should I just wait or try to get it done myself? Edit: I'm not sure what to put as flair. [link] [comments]  |
| Posted: 08 Dec 2017 03:04 PM PST I live in Washington state. We have a contingent contract to buy a house that was signed yesterday (45 day contingency, 2 day bump response). They are advertising an open house this weekend and have not updated Zillow (I know it's slow) with the pending status on the house, but have updated it with the open house info. Do they have to put a "sale pending" sign on the home sign? I feel like the house is being pulled out from under us a day after we've signed for it. [link] [comments]  |
| [Chicago] Steps to do New Construction in One Loan Posted: 08 Dec 2017 02:43 PM PST I'm interested in doing something very specific and I'm trying to figure out the steps to start the process. I want to build a two-flat, like a duplex with the tenant unit on the top floor. I want it done in a contemporary style sort of like the Basecamp development on N Milwaukee (basecampsfh.com). I realize it might be cheaper to gut rehab an existing building but there are also downsides to that like suddenly discovering that the plumbing under the foundation has issues because it's 100 years old, etc. So, I'd like to build something for myself. Say for the sake of argument that I have a total budget of $500k and I have $100k to put down. (I don't, but this is the internet so we can use our imaginations.) What do I do now? Is the first step to find a builder? Can you just go to a builder and ask what plans they've used for a two-flat in the past, pick one, find some land you want to buy, get an all-in-one construction loan, put the money in escrow for the builder and tell them to just GO? I mean, that's a lot of steps, actually. I suppose normal people who build houses are mega rich, buy a plot of land, let it sit around and pay the mortgage for a long time while they hire an architect, pay that architect to draw up custom plans, approve the plans, choose a builder, put down earnest money, get the builder to get the permits approved, get a loan for the house construction, pay mortgage while the house is being built in addition to mortgage on the land, wait a year for it to be finished and then move in. Sadly, I will probably never be rich enough that I can do all those steps individually with money being spent for all the different things at the same time. Has anyone ever done this in one loan (especially in Chicago) and can you describe the steps? Also, if you have, what builder did you use? A friend of mine has just done it but his partner did all the business side of it and he's not willing to spend the time to walk me through it. I know it can be done. I just have to figure out how! Thanks! [link] [comments]  |
| Posted: 08 Dec 2017 09:13 AM PST If i own a country lot that's an acre or less, and that has no buildings just trees and a forest are there still payments that need to be made after i own the land outright? Example, property tax? "Southern Ontario Canada." Edit: or do i have to have plans like im building a house on the lot, but itll take me a year or 2. And when does property tax start when the house is being built? I dont know give me information !!!!!! [link] [comments]  |
| How to change name after AoS is accepted? Posted: 08 Dec 2017 06:36 AM PST PA agent here, just a quick question. Later in the process after our agreement of sale was accepted by the sellers I found out my clients real legal name is something different than what we have been doing the whole time. My question is what is the best way to change it on my documents? One agent in my office said I don't have to do anything so long as the closing attorney knows. Another agent told me that I could do an addendum stating what their legal name actually is and another agent told me to resign everything. What's the best way to go about this? Thank you for any and all help! [link] [comments]  |
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