I don't understand how I'm supposed to compete with corporate investors in California. Real Estate |
- I don't understand how I'm supposed to compete with corporate investors in California.
- [SF] Any young real estate investors (20s) in the Bay Area?
- [Northern CA] Wildfires burned down 5% of homes in my town. Should I sell my condo or rent?
- Dallas, Austin or San Antonio? What do you suggest.
- Fha Questions
- Effective Property Tax Rate [OH]
- What steps would one take to buy something like an apartment complex or some condominiums to rent out?
- Are there real estate apps out there that feature searching by "reportedly haunted", or something similar?
- Can anybody here offer insight on the residential appraising career field?
- [US] Local signs of a bubble.
- Interesting proposal offered to me... how should I approach this?
- Choosing Between Towns/Commutes
- Is it better to have a laid-back real estate listing agent or an aggressive one?
- When money is put into a escrow account does every separate real estate transaction get its own account or do all real estate transactions that require the money be put into escrow get put into one account?
- Landlord bookkeeping software?
- Want to buy a house with unpermitted additions [FL]
- [AK] Health and safety (code) issues concerning appraisal?
- CRE Careers: Brokerage vs Appraisal vs Analyst
- Buying with cash process? (CA)
- Listing agent stipulating specific inspector cannot be used
- Negotiating A Joint Tenant Buyout; What is Allowed?? [JTWROS]
- Contracted with a Management Company but now a friend wants to rent our house
- Where should a young person who has just gotten their license and does not have a great deal of personal capital start in the industry? What are some key steps and tips to get off to a good and productive start to a healthy career?
- Warranty Deed Question
- Thinking of buying our first home. There's some mould in the bathroom and living room. We think it won't be expensive to fix, but woulds appreciate advice from somebody with experience.
| I don't understand how I'm supposed to compete with corporate investors in California. Posted: 31 Jan 2018 10:01 PM PST I'd like to buy a home and have cash in hand for a downpayment... but whats the point of this when you have billionaire investors that will just outbid anyone and can pay for the property with $1M+ cash on the spot? Am I missing something here? [link] [comments]  |
| [SF] Any young real estate investors (20s) in the Bay Area? Posted: 31 Jan 2018 11:57 AM PST It's obviously obscenely expensive to purchase a home in the city, but I had an uber driver who suggested that groups of friends should go in on properties together in areas like Hayward to stop "paying the man". Has anyone actually done this successfully? Or are the only opportunities to be had in central California? [link] [comments]  |
| [Northern CA] Wildfires burned down 5% of homes in my town. Should I sell my condo or rent? Posted: 31 Jan 2018 06:57 PM PST I'm hoping I can get some perspective on this. I don't know much about real estate or market trends. I bought a 3bed/2.5 bath condo unit in 2010. I bought it for $155k and still owe $110k on the mortgage. My expenses are about $1000 a month (mortgage, HOA, property tax, insurance). This past October, a devastating wildfire tore through Santa Rosa and burned down about 5% of housing. From what I understand, it created a pretty big imbalance between supply and demand. Similar condos are renting for about $2300/month. After all my expenses plus property management fees (I don't want to be a landlord), I'll make about $1000 in profit per month. I doubt this will last though. Once the housing market balances out more, I'll probably get about $1900/month in rent ($800/month in profit). A real estate friend showed me some comps in my area with similar floor plans selling for about $350-$360k. After paying off the mortgage, agent fees, and closing cost, I'm looking at about $215k in profit. My friend did say the recent fires caused an already bubble market to turn into a giant hot air ballon. She recommended that I sell now as she doubts I will ever net this much profit from a condo sale. My family and I will get moving into my parents house (they are retiring and moving to Asia). The house is completely paid off so we won't have a mortgage. Is it better to sell for a high profit now or have a long term rental income? Is there another option I'm missing? Any advice is very much appreciated! [link] [comments]  |
| Dallas, Austin or San Antonio? What do you suggest. Posted: 01 Feb 2018 04:07 AM PST Hey everyone, I am interested in purchasing a property in either Austin, Dallas or San Antonio as a out of state rental. Will be paying cash and my budget is 225K. I know that is not a lot to work with but where among these places would you recommend. I heard Austin is cool but expensive now. What areas do you like in these places for the price? [link] [comments]  |
| Posted: 31 Jan 2018 07:52 PM PST I have been working at my current job for about a year now. Im 19 and married. I was wondering if i qulaify for an FHA loan since I havent been at my current job for 2 years. I have been employed for 2 years now at different jobs and before that I was in highschool. I have a credit score in the 620s and no late payments on anything. I dont have bills for a year since I just got married and moved out of my parents house 6 months ago. Do i still qualify for an FHA loan? edit: We live in oklahoma [link] [comments]  |
| Effective Property Tax Rate [OH] Posted: 31 Jan 2018 06:13 PM PST Does anyone have a good resource that aggregates local property tax rates? Specifically looking for the Dayton Oh region [link] [comments]  |
| Posted: 01 Feb 2018 01:07 AM PST I have a few years ahead of me before even looking to buy this type of real estate, but I'm just curious. [link] [comments]  |
| Posted: 31 Jan 2018 05:29 AM PST This might not be the right place to ask but, my wife and I are looking to buy our first home in the New England area. We've been using a number of websites and apps to alert us of houses withing our price range (i.e. Redfin). But since I'm a weirdo, I'm a bit curious if there is one that will let us reduce our search results to places that are less desirable. Reportedly haunted, or a creepy history. Edit: While I could research the history of every house I find interesting on my own; I'm hoping to find something that has already done the leg work for me. Googling for more details is a good idea though! [link] [comments]  |
| Can anybody here offer insight on the residential appraising career field? Posted: 31 Jan 2018 07:48 PM PST I am at a cross roads in life right now and need to switch things up. Residential real estate appraising is something I've always had an interest in as my uncle has been doing it for a long time and he also employed my mother as well. I've gone with my mother on various appraisals and it seemed okay. I know my uncle makes very good money doing it. The only thing is that the career field seems so isolated and shut off, almost as if it's like a "secret organization". All of the appraisal training is super janky and almost sketchy. The required appraisal courses are only offered through these scammy type online schools that are similar to like Kaplan, Devry, University of Phoneix, etc. I'm wondering if it is actually a decent career to get into? I can easily satisfy all of my training hours by working with my uncle. I'd appreciate any insight you guys may have on this career field, thanks! Edit: to satisfy Mr. Bot, I am located in Ohio... [link] [comments]  |
| Posted: 31 Jan 2018 10:20 AM PST For the last several years, my local market has had 2-3 months of inventory available. That bothered me, but I understood. The housing crash left a lot of people underwater, so I figured there were a lot of people who simply couldn't afford to sell. I also figured that as prices rose, a certain percentage (not all) of those people who finally had equity would sell. The TV and radio have ads from large companies and local players that say they'll buy your house today for cash with low hassle. At least one says they're ok with negotiating your short sale as part of the deal and give you a moving allowance. Not sure how many properties are moving this way, but my data source says 26% of December closings were cash so I'm treating that as max. While some of those properties are going back on the market, others are becoming rentals. I can't go a week without hearing an ad on the radio for a seminar to either get rich in rental properties, get rich flipping houses, or get rich wholesaling. That's on top of the dozen TV shows making flipping seem like easy money, one based in my market. But yesterday I got an email from one of my old title/escrow contacts. Apparently prices on closed properties are up 15% year over year. Now granted, the Dow is up 25%, but this can't possibly be sustainable. Am I being reasonable? Are there signs of a bubble in your area? [link] [comments]  |
| Interesting proposal offered to me... how should I approach this? Posted: 31 Jan 2018 11:00 PM PST Someone I know came to me with a proposal for managing a property that I would put down money for. He'd have a contract with me to manage the property for no money upfront, and would be able to get a 50 percent buy to the property at some point down the line (7, 8, 9 years down the line). This is for a 500k property, so my down payment would be 100k. If I take this, I'm thinking I should stipulate a min ROI per annum. Upfront this doesn't seem to make a lot of sense- if he's allowed to buy in after even 10 years, assuming no appreciation of the property, that's a 25k per year return for him, or 2k per month. It would cost me much less to have some property management firm handle this for me. My question to you guys- have any of you guys done something like this before? And if so, at what ROI per annum? [link] [comments]  |
| Choosing Between Towns/Commutes Posted: 31 Jan 2018 07:10 PM PST Drive Time to Jobs Town A = 40 mins for me, 15 mins for wife, mostly highway/interstate driving Town B = 1 hour for me, 24 mins for wife, nearly all highway/interstate driving Work Shifts We both work full-time, weekend shifts at odd hours. So 1, we only do the commute on average 3 days a week, and 2, traffic will most likely not be a hindrance. Schools for Kids (Still at least a couple years away) Town A = Only a couple years old school district with verdict still out on experimental group-based learning Town B = Established, large, solid schools Entertainment Equal distance to nearest large-ish city, but town B has great small town downtown area Housing Market Town A = Houses we'd consider start in the $200s in a gated community with HOA ($800 a year), not much selection. 1500-1700 Sq. Ft. Homes 10 years old and newer Town B = Considering houses $150 to $180, much more selection, wide range of sq. footage, wide range of ages (most older than 10) Child Care Town A = 25 mins from nearest family & friends Town B = Easily could find family & friend babysitters, on short notice Crime Town A = Closer to nearby city crime, but neighborhood is gated so we don't think it would be an issue Town B = Very low crime, small town Future Jobs Wife will likely be able to continue to find work within 20 min drive, if I change jobs in the future my drive will very likely get much shorter for either town (not very likely in the near future) Vehicles My drive will hopefully always be in cars that get at least 30 mpg. You can probably tell we want to pick B, but we wanted help weighing the pros and cons, and maybe point out some things we missed. Our main question is probably does the difference in home prices make up for the increased driving costs? Also, while we believe we'd be able to afford either, this will be our very first home. Maybe caution with the lower mortgage would be better? EDIT: Location : Southeast US, low cost of living area [link] [comments]  |
| Is it better to have a laid-back real estate listing agent or an aggressive one? Posted: 31 Jan 2018 10:33 PM PST [US] I am about to put my house on the market and I feel that the listing agent that I am talking to (I have only contacted one thus far) is a little on the laid-back and mellow side. While I feel this would make the listing process much more comfortable, relaxed and pleasant, I wonder if there is any possible advantage to a listing agent that is more aggressive. For example: would I expect telephone calls at 10:00 PM, open house events in the middle of the week, persistent requests to hire contractors to make the house even more photo-friendly, etc., and is there any actual benefit to that (besides the increased stress levels)? [link] [comments]  |
| Posted: 31 Jan 2018 08:44 PM PST So when money is escrow for a certain deal is it in a separate account or all transactions put into one big escrow? I know personal and business funds need their own account and cant co mingle. Pennsylvania [link] [comments]  |
| Landlord bookkeeping software? Posted: 31 Jan 2018 06:18 AM PST Above using anything they'd recommend? I was looking at quick books but it didn't really seem geared for real estate [link] [comments]  |
| Want to buy a house with unpermitted additions [FL] Posted: 31 Jan 2018 04:33 PM PST 1.5 bathrooms and a utility room were built without permits. We love the house, but this poses obvious issues. We've put an offer in with a condition they get permits, and as expected they declined. I understand the risks of buying it without permits, but what are some creative ways we could approach it to get permits? I would potentially buy without if I had some sort of guarantee that I could get the permit after the fact, any suggestions? Thanks! [link] [comments]  |
| [AK] Health and safety (code) issues concerning appraisal? Posted: 31 Jan 2018 06:36 PM PST Hi guys! My inspector told me the appraiser (and bank) may not like two bedroom windows that don't meet egress requirements (4 inches short) and no heat source in those two bedrooms as well. Seller has agreed to a few things but has declined to fix these issues. Question: should I walk away if I'm not prepared to pay for these items to be resolved? Or is there another potential step where I can renegotiate with the seller depending on the appraiser's assessment? I realize these are questions for my realtor but she seems to be fairly incompetent (or small town level competent? just not what I'm used to anyway). I'm just wondering if I should bother throwing more money at this (appraisal and rate locking) if I'm going to walk away anyway. I guess it really depends on what the appraiser says. [link] [comments]  |
| CRE Careers: Brokerage vs Appraisal vs Analyst Posted: 31 Jan 2018 02:36 PM PST Hello all, I'm currently finishing up my undergrad and beginning to decide which career path to go down post college (finance major). I am extremely interested in commercial real estate and the three careers that stick out to me the most are brokerage, appraisal, and (research?) analyst. What are the positives/negatives in these careers? Salaries? Hours? As far as I know, brokerage takes 2-3 years to actually make a livable salary and involves very long hours, but after those 2-3 years the upside is crazy. Also less finance intensive? Appraisal (I've heard) is more so working under someone until you get certified, then you can make as much as you want to work due to commission (well over 100K?). And analyst's I've heard is a standard starting point which involves the least hours but also the least upside, very finance intensive? I HAVE ABSOLUTELY NO IDEA IF ANY OF THIS IS CORRECT but this is just what I've heard. If anyone could give me any insight on these three careers, I would greatly appreciate it. Thank you! Have a blessed day. Also: yes, I've used the search bar numerous times but I always seem to find contradicting information. I apologize for the noob question. [link] [comments]  |
| Buying with cash process? (CA) Posted: 31 Jan 2018 08:36 AM PST This may seem like a silly question, but I'm not super clear on how the money changes hands when buying a property in cash. Every article under the sun seems to talk about getting a mortgage. There was a post on reddit about proving you had the funds with a bank statement or letter, does this get sent along with your offer? I would assume it's not advantageous to offer 150k but then the buyer sees you have much more in your account? And then lets say the buyer accepts, are there standard protocols like you must get a bank draft and then send it to the real estate/lawyer's office of the buyer? CA being Canada. [link] [comments]  |
| Listing agent stipulating specific inspector cannot be used Posted: 31 Jan 2018 02:26 PM PST Hi Reddit Fam, Y'all ever hear of a listing agent firmly rejecting a buyers chosen inspector. Any other inspector but this guy, is welcome anytime (they even said "get two guys to come!")just not him. This madness is occurring in NJ. This guy is, by all reviews and accounts, very professional and very thorough and has all of his licenses. It's that thoroughness that probably rubbed the sellers' agent the wrong way in the past and may have caused homes to fall through for her. That said, the question has now been put to my attorney for his comments. Nothing I've read in the contract or addendum (were through attorney review) makes mention of any stipulations as to inspector we can/cannot choose (only that they're licensed by the state) but we still need seller permission to access the home. I feel like I'm in the twilight zone here. Thoughts? Similar experiences? [link] [comments]  |
| Negotiating A Joint Tenant Buyout; What is Allowed?? [JTWROS] Posted: 31 Jan 2018 05:08 PM PST [MA] Unmarried, and we broke up - We bought our house together as joint tenants with right of survivor, and he is buying me out. We got 2 appraisals and averaged them; my 50% of the increase in equity is only $30K, but I have put over $50K into mortgage payments into the house, plus have receipts for repairs & upgrades for at least another $15K. What can I negotiate for, on the buyout agreement - Am I only entitled to the $30K or can I get some of my other money back as well, here?? Any advice or input would be appreciated. [link] [comments]  |
| Contracted with a Management Company but now a friend wants to rent our house Posted: 31 Jan 2018 04:39 PM PST Wife and I are leaving this summer for a few years and want to hold this house, so we were working with a rental company to find a tenant and manage the home. We sat down with the company, signed a contract to have them list it, and paid them their $250 admin fee for listing it. We are having our first showing of the home in the next few days. Now, one of our friends (a couple) has approached us about renting the home. We would like to rent the home directly to them, as we trust them a great deal, both have stable jobs, and would probably rent it for at least a few years. Even lowering the rent a few hundred dollars for them makes us more money than if we let the management company take its 13% off the top. My question: Are we likely to run into any legal issues severing our contract with the management company? I know the answer to this is probably "read your contract," but I don't have a copy of it in front of me (waiting on them to email me the copy i signed back). I don't want to burn any bridges with this management company, because when our friends eventually move out, I want to use them, as they are probably the best company in town. Any advice on the situation would be welcome. [link] [comments]  |
| Posted: 31 Jan 2018 10:10 AM PST |
| Posted: 31 Jan 2018 02:33 PM PST New to this forum so please direct me to the right place to ask this. I paid off the house mortgage in 2014 (Wells Fargo) but I'm just now realizing I never received a Deed/Title. Are houses like cars? After paying off a car, you get the title in the mail. Is this normal? I live in Cobb County, Georgia. [link] [comments]  |
| Posted: 31 Jan 2018 02:09 PM PST We're think we can fix this by re-grouting the shower/bath and painting the walls. But we're worried there might be an underlying mould/damp problem further inside the wall. The person living the flat doesn't seem to care well for it. Smokes in the bedroom, probably never ventilates the bathroom (it has no windows). Is there anything in the pictures which is a red flag which might indicate more a serious problem? Note, there was a leak in the flat above at some point, which may have contributed to the peeling of the pain. Otherwise flat is well insulated, and has a B EPC energy efficiency rating (best is A, worst is F) Any advice appreciated. Pics: https://imgur.com/a/WF91E Property is in London, UK [link] [comments]  |
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