Recommended books for first time real estate investor. Real Estate |
- Recommended books for first time real estate investor.
- Closing on house soon, according to sales history Seller purchased the home for only $100 (tax write off?) Could this have any implication on closing or exchange of deed and titles?
- Anyone know what this heater is?
- (UK) Is there such a thing as parents and children living in two smaller homes next to each other instead of in one bigger, so that kids could be as loud as they want and parents enjoy peace and silence?
- Inheriting two apartment buildings - where do we start?
- Possible Investment...Need Advice
- Refinance & Rent our home, or Sell and lose money?
- How would I ask for a property contract for wholesale.
- Considering making my way into commercial real estate. What should I consider or know before making the jump?
- Looking to buy - FL
- Pre-foreclosure rates in Denver Metro
- Foreclosure purchase as primary residence
- (CA) Interested in buying my first home to rent out to family
- Illinois Real estate Contract
- Buying a home from family member and refinancing
- Buying a property "AS IS"
- Time to Lawyer Up or DIY?
- Help figuring out right price for a deal.
- Does anyone have experience buying a property/investment in Bali?
- Should I Get My Notary License Along With My RE License? (PA)
- What will it take to turn my plot if undeveloped land into a livable trailer lot?
- Sitting here stewing over a lousy home appaisal report.
- [FL] ELI5 Steps to Build a Duplex from Scratch
| Recommended books for first time real estate investor. Posted: 05 Jan 2018 05:59 PM PST I'm planning on investing in my first real estate property within the next year or two. As with anything I like to do a good amount of research on a subject before I enter the field. What books do you recommend to get me up to speed on everything I need to know? I'm talking everything from legal, to property management. I'm looking to invest in a single house. Not sure if it will be apts, home, Airbnb, etc. If you have any more suggestions/advice or resources I should look at that would be awesome! [link] [comments]  |
| Posted: 06 Jan 2018 01:57 AM PST House was sold in 2010 for $4O0k Then 2012 for only $100 (basically a transfer of ownership?) to the current owner in 2012, whom we are buying the house from. Something interesting is that the homes address is also the address for their charity too... I wonder if the house was just held in this guys name for the charity but someone else lived there?? again I'll check w my attorney. But trying to figure out if the house was bought under their charity as a "business" expense since the $100 is a taxable limit? All in all seems odd and still have no idea who actually lived there previously. If it was the seller or not? Just want to make sure there's no issues w the deeds and title exchange at closing etc. [MA] [link] [comments]  |
| Anyone know what this heater is? Posted: 05 Jan 2018 11:42 PM PST Thinking of buying a property but they have a weird heat system going on. I don't necessarily mind I just want to know what it is. Pictures are here Anyone know what this is?? Seattle, WA Ok technically Renton, WA [link] [comments]  |
| Posted: 05 Jan 2018 11:33 AM PST |
| Inheriting two apartment buildings - where do we start? Posted: 05 Jan 2018 05:44 AM PST Hey all! First post here as you may have guessed. My father, sister, my wife and myself will soon be inheriting two four-unit apartment buildings from my grandparents (my recently deceased mothers parents). They've owned them forever and they've been paid off for years. We're meeting with the grandparents this weekend to talk things over, but I'm trying to gain at least a little knowledge before then. The little research I've done so far tells me that we should set up an LLC. I'm curious about the best way to go about that. Set it up with all four of us as equals or do we become employees of my father? Another thing probably worth mentioning is that as far as I know, they're all low income (section 8?) housing so the tent money actually comes from the state. I've always planned on getting into the real estate game eventually, but this has forced my hand and now I need to figure things out sooner rather than later. Thanks for any input. [link] [comments]  |
| Possible Investment...Need Advice Posted: 05 Jan 2018 09:45 AM PST Let me preface this by saying that I have kind of fallen into this situation and have been trying to do a crash course on real estate investing or general real estate but haven't gotten too far. I have never really thought of the idea before but sometimes things come up in life that you really have to think about. My wife and I have been going back and forth on the duplex we currently live in Metro Detroit. Our landlord has offered us to buy both sides of the property and we would occupy one side. Using a FHA loan would our main option right now but I don't know if we would be making enough on it per month considering the high asking price from our landlord (probably $300ishk for both sides but hopefully less). Just estimating with a FHA owner occupied loan it would probably be $2200 per month (ish) but hopefully less. Rent is $1200 from the other side and that will remain occupied. We currently pay $1200 for rent so we would be living "cheaper" and hope to move in the next 2-3 years into another house and have this as our rental property. Is this a normal thing to even consider since we aren't technically turning a profit up front? I realize there are some tax benefits but I'm not sure how to approach it ,let alone where to start on this. Any and all advice is welcome! Thanks in advance. [link] [comments]  |
| Refinance & Rent our home, or Sell and lose money? Posted: 05 Jan 2018 12:40 PM PST Kinda stuck between a rock and a hard place here. I am in the military and originally had orders to stay in the city I was already stationed. As far as we knew, my husband and I would be here for at least 5 years. Rent is always crazy high in military towns, so we bought a house. Unfortunately, we hadn't planned ahead for this, so our credit wasn't where it should have been ideally, and we have a pretty high monthly mortgage payment. Now only 2 years later, my orders got changed and I will be moving to another state entirely. We have to decide to sell the house or rent it. We bought the house with a VA Loan, which has a clause that the house must be your primary residence. We can refinance with a IRRRL which then allows us to rent the property out. We ran the numbers, and refinancing will not drop our monthly payments any lower than they currently are, so there's not much benefit there. Our mortgage payments are roughly the same amount that rentals go for around here. This is why we originally decided to buy in the first place, but now it hurts us because we will not make any profit from renting. We will either break even or take a loss. Sadly, the same goes for selling. Having only had the house for 2 years, housing prices haven't gone up very much. But having to pay for some re-piping and water damage, we've put at least another 10k into this property. It is in no way top-price-selling ready. After talking with a Real Estate agent, even selling at the highest price point in the neighborhood, we would take a loss. So what do we do? Rent it out for a few years until the market price goes up more, then sell at a profit (with possible loss per-month expenses)? Or just cut our losses and sell the house now and be done with it? Additional details: We would be paying for property management due to living out of state and military not being the most flexible when it comes to taking time off. No, my husband cannot stay with the home due to his own job going elsewhere as well. TD;DR: Sell my house at a loss, or rent the house at zero profit in hopes the property value will rise in a few years? [link] [comments]  |
| How would I ask for a property contract for wholesale. Posted: 05 Jan 2018 07:39 PM PST I did some networking and met some investors who buy fixer uppers. They told me I could do wholesaling. When I'm meeting with a seller, and we have negotiated a price on the property. How would I ask for a contract for wholesaling. What should I do before I recieve a contract? What should I do after I recieve a contract? ( Go to a lawyer ) How do I sell my contract so I don't get ripped off? Do I ask for cash or a check? Do I write my own contract for a proof of purchase that the buyer has to sign, to get my deal? [link] [comments]  |
| Posted: 05 Jan 2018 10:39 AM PST I've been speaking with a broker from one of America's biggest real estate brokerage firms. Currently I work in the auto industry as a finance manager and am considering the switch because the potential for income is so much greater. I know the workload is going to be crazy and that doesn't deter me. I'm unfamiliar with real estate, however, and want to know all the good and the bad. From building my own brand, what a 'draw' structure means, sales vs credit vs project management. Throw info at me! It's much appreciated! I'm in central Pennsylvania as I'm sure that makes a difference. [link] [comments]  |
| Posted: 05 Jan 2018 03:27 PM PST I am looking to buy a mobile home in FL in an all ages community. Where can I find what is available in the South FL area? I've used mhvillage but it seems that it is not up to date as one of the listings I liked had a fax number and the actual owner told me over the phone that he had nothing to sell. I did some driving yesterday/today as well. Found a great community but it was only 55+. [link] [comments]  |
| Pre-foreclosure rates in Denver Metro Posted: 05 Jan 2018 02:28 PM PST So I have been browsing Zillow for a new house lately. I noticed that the Denver Metro market has almost as many Pre-foreclosure dots (blue) on the map as regular sales dots (red) Zillow groups auction, Pre-foreclosure, and foreclosure into one group. (blue dot) When you compare it looks rather frightening. Check it out what does it mean? [link] [comments]  |
| Foreclosure purchase as primary residence Posted: 05 Jan 2018 10:39 AM PST I have been scrolling through the foreclosure listings with the county and have noticed some that are in decent areas of the county. I've bought two houses with just conventional loans but was wondering, how does one go about getting a loan for a foreclosure? Aren't there different rules when taking a loan from a bank? Edit: I am interested in the Pinellas County area. [link] [comments]  |
| (CA) Interested in buying my first home to rent out to family Posted: 05 Jan 2018 04:32 PM PST Interested in buying my first home to use as a rental property, I read that I must have a rental property for at least 3 years before I can purchase a home for msyelf to live in and get a first time buyer credit. My question is : are there limits as to who I can rent it out to? could i rent to a family member and not have it void the first time buyer credit? Thanks everyone! [link] [comments]  |
| Posted: 05 Jan 2018 04:16 PM PST So I recently got into wholesaling and my main concern is the contract. Does this clause give me the right to back out of the agreement at anytime before the closing date? Assignee's Inspection Period shall expire upon execution of this Agreement. Assignee accepts all terms and conditions of the contract of Sale and Purchase between Buyer and Seller in its entirety. Assignee acknowledges all receipt of legible copies of the original contract for Sale and Purchase in its entirety including all addendum(s) associated with this transaction. [link] [comments]  |
| Buying a home from family member and refinancing Posted: 05 Jan 2018 07:38 AM PST My brother is moving and wants to sell us his home. We don't have money for a down payment and have never purchased a home before, and we are looking into a creative way to purchase the home. We are located in St. Louis, Missouri. I've seen some references to the option of being put on the deed of his home, paying the mortgage for 6 months, then refinancing and taking him off the deed at that point. I've had a lot of difficulties investigating this further to see if this is feasible, and if my brother and I both benefit from this scenario rather than getting a traditional loan and buying the house without a realtor involved. My credit is good, and my credit union says I will likely be approved for a first time home buyers loan that covers 100%, no PMI, and they pay closing costs (or most of them). He purchased the home for 130, and owes 80. We've agreed on a price of 180. I still can't wrap my head around how a refinance works since he only owes 80. I've also read that it can be hard to find a lender to do this refinance deal, and I have no idea how to even start looking around for one to ask their guidance and opinion. Besides not fully understanding which is a better option for both of us, I don't have enough knowledge to intelligently ask questions about this. Any explanation and clarification is welcome, as well as resources to look into! [link] [comments]  |
| Posted: 05 Jan 2018 07:27 AM PST Would you recommend buying a property marketed "AS IS" for the primary home? If yes would you do any extra inspections than usual? The property I am looking at is not part of the association all the other houses in the neighborhood belong to and it was build by the original owner of the land after he sold the land to the builder which build the whole neighborhood. [link] [comments]  |
| Posted: 05 Jan 2018 05:49 PM PST So my girlfriend and I moved out of our crap 1 bedroom, upstairs apartment that leaked into a seemingly nice 2 bedroom house with a large driveway and a 2.5 car garage which is perfect for ol' gearhead me. ANYWAY between the move in date(Late April 2015) and now (1/5/18) I've had to file 3 separate insurance claims for major issues with the house.
Now, after tearing out the damaged flooring I got to an exterior wall of the house and noticed the same type of water damage coming inward. Apparently the vapor barrier was installed incorrectly and is just there for looks. Brother-in-Law is a home inspector for a different state but he came by around Christmas and checked out the house and confirmed the vapor barrier issue. Obviously this all is very overwhelming for a first time home buyer. I live near Rockford Illinois My questions for anyone to answer are: Can the home inspector be held accountable for any of this? I did not sign a clause What about the previous owners? What can I do now that I'm stuck with this property? Edit: I know that I won't get anything more from the 3 claims I've already filed. My questions pertain to the vapor barrier and any other subsequent issues from that. [link] [comments]  |
| Help figuring out right price for a deal. Posted: 05 Jan 2018 01:48 PM PST Anon just bc. I live in red hot brooklyn NY. In 2014 paid 500k for our house. Today prices go for 1-1.1m. No problem if it was a vanilla deal. Developers have purchased my neighbors house and are very interested in purchasing mine. They plan on knocking their home down and building apartments. They would like to buy mine as well and combine the lots to build more apartments. Using only her lot they can build between 8-10 apartments, if they acquire mine they will be able to build about 30-35. An appraiser and an atty both told me they could help but are not familiar with the best way to determine the value. Obviously there is a lot of value for the developer, how do I make the most of this for myself? [link] [comments]  |
| Does anyone have experience buying a property/investment in Bali? Posted: 05 Jan 2018 08:59 AM PST |
| Should I Get My Notary License Along With My RE License? (PA) Posted: 05 Jan 2018 08:59 AM PST Background: I am currently taking classes to obtain my real estate salesperson's License. About 60% done with the online course to be exact. I have worked for an investor and am planning to use this license mostly for property management purposes, rehabs, and then sales as frequent as possible. Yesterday, I was talking to someone who walked into my job and he mentioned that he was a licensed realtor who specifically focuses on rehabs and property management (go figure) but what he said next is what I was the most curious about. He told me to get my notary license as well to have extra cash flow while doing the real estate thing. I looked up what exactly a notary does and it does not seem too demanding. My questions is would it be worth it? Would real estate and notary overlap so much that it would make sense to have both licenses? [link] [comments]  |
| What will it take to turn my plot if undeveloped land into a livable trailer lot? Posted: 05 Jan 2018 08:40 AM PST So I own a fully undeveloped lot in suburban California. My question is what all needs to happen to make the land ready for me to put a trailer on it? I'm not expecting anything super specific in terms of price, just like what should I expect in terms of how long it will take to set up sewer and electricity, etc? [link] [comments]  |
| Sitting here stewing over a lousy home appaisal report. Posted: 05 Jan 2018 08:20 AM PST Okay this message is half rant and half request for advice. Purchased a property last month at auction for 86k and decided to do a conventional mortgage. Appraisal just came back at 102k. I was not surprised as I know our market pretty well. The problem is our appraiser reported a crack in the block foundation in the basement as well as two loose wires in basement. Now the lender is requiring us to repair basement and electric before we proceed. I just an hour ago got our quote for the basement repair at $3280. The electric I will be doing myself. And of course I will have to pay home appraiser another $125 to reinspect. In what world is a home appraiser qualified to make decisions that they have no formal training on? Every house I own has foundation cracks... it is very normal when owning a block basement. At this point I am thinking of telling the bank to get lost and just using part of my IRA to finance the remaining 65k and then taking a 65k heloc out on another property and paying the IRA back within 60 days to avoid penalty. What does reddit think of this plan? [link] [comments]  |
| [FL] ELI5 Steps to Build a Duplex from Scratch Posted: 05 Jan 2018 07:45 AM PST I think my main problem right now is I don't know what I don't know. Is there a source to learn about buying plans/hiring a contractor/what professionals to involve in which steps of the process? What are county specific (I am in Monroe County) things I need to know? What are state specifics? What are general things to know? How do I find out what I can do myself? Ideally I'd love to buy a lot, get a concrete pad poured, elevate it as necessary, and begin framing the house myself. Or have a contractor do as little as possible to get the bones together and then finish it myself inside. My thinking was that if I can get a shell that I can get a certificate of occupancy on, I can then finish one half, get it rented out for some income, and then live in the other half/ a trailer on site while I finish the second half of the duplex. What do I not know about the home building process that I should? Bonus points for anyone located in Monroe County and interested in taking me under your wing. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment