What are the most lucrative paths to take in real estate? Real Estate |
- What are the most lucrative paths to take in real estate?
- The Story and Lessons Behind Invitation Homes: Blackstone’s Acquisition of 50,000 Single Family Homes for $10 Billion Between 2012 and 2016
- Seller is unwilling to negotiate even after lower appraisal and inspection issues
- Holes in baseboards when viewing a home
- House is perfect, neighbours...? (CA)
- Best way to rent out current house and buy a different home.
- Buying a home in the Bay Area and building in-law suite
- Real Estate Agents: Is it true that it would be better to focus on property not affordable by 99% of the population rather than vice versa?
- Can I afford a 600-700k home?
- [PA] How to find reliable help / property management as an investor/owner?
- Buying my first rental property
- Losing my job. Don't know what to do with home.
- Are there downsides to using sites like Trulia, Zilla, Etc. as a first time home buyer? (USA)
- USDA Loan Qualification [NH]
- US: is it possible to buy land in Mexico and not just lease it?
- Hi, I'm planning to terminate a lease what does this mean exactly?
- Where can I find data on the best type of property and best markets for RE investment with a 10-20 yr strategy? (TPA, FL or NOLA)
- Question on disclosures relating to crime
- Potential neighboring minor subdivision hurting my property - what can I do?
- Being charged more for rent than whats stated on the licensing agreement.
- (NYC) To rent, AirBNB or rent out in rooms?
- 1 month study for agent exam?
| What are the most lucrative paths to take in real estate? Posted: 02 Feb 2018 08:19 PM PST Well, it's an open ended question. I'm kind of ready to take the next step in my career after purchasing three units and converting two of them to vacation rentals. I've got about $50K in cash and basically break even each month between vacation rentals supporting my lifestyle and long term tenants covering mortgage/tax/insurance/etc. So I'm seeking advice from anyone about what directions their own paths have gone, whether it be amassing rental properties, starting VRBOs in a bunch of vacation towns, flipping rehabs, buying commercial properties...i guess I've just never had a strong overview of the options out there and what their strengths and weaknesses are. Anyone interested in sharing their experience? [link] [comments]  |
| Posted: 02 Feb 2018 09:30 AM PST |
| Seller is unwilling to negotiate even after lower appraisal and inspection issues Posted: 02 Feb 2018 03:59 PM PST I'm in a bizarre situation now. I had the winning bid on a home in a very competitive market. It's common for sellers to waive inspection and appraisal contingencies, but these did not. Knowing we would likely find issues with the home to negotiate price later or get credits, our bid was high. Issues were found in both inspections and appraisal came in 35k under. But the seller is unwilling to negotiate on our initial contract price. My question is, what's the point of inspections and appraisal if they aren't going to renegotiate according to the findings? Now i'm about $2k out of pocket for the inspectors. Can I get the sellers to repay me? Los Angeles county [link] [comments]  |
| Holes in baseboards when viewing a home Posted: 02 Feb 2018 05:48 PM PST I looked at a home today and there were maybe quarter sized holes drilled every foot or so in the baseboards on two walls. Right through the baseboards. Any ideas why someone would do this? I don't want to waste my time if it is a sign of serious damage in the walls that was being investigated. [TX] [link] [comments]  |
| House is perfect, neighbours...? (CA) Posted: 02 Feb 2018 02:09 PM PST We're looking to move to a bigger house in a better neighbourhood. A house came up that matches all of our requirements, but we noticed that the next door neighbours have erected a permanent structure over a hot tub that is right on the property line and pretty tall. It is likely not to code (both height and position). In a heavy rain, the roof is sloped to dump all of the water directly into what would be our yard. We have a few options: 1. Walk away from the house, even though everything else is perfect 2. Buy the house, at the first sign of trouble, request that the neighbours install a gutter on the roof to direct the water away (which honestly should be there anyway) 3. Buy the house, report them to the town, they have to move/tear down the structure (likely only used in the case that #2 is refused). We're also slightly hesitant about buying a house next to a home that has a pool and hot tub, since our bedroom window would face it. Good part is we're in Canada, so it would likely only get used for 3 months a year. What would you do? [link] [comments]  |
| Best way to rent out current house and buy a different home. Posted: 02 Feb 2018 05:00 PM PST I've lived in my house for about 10 years. Family grew and now according to my wife we NEED a bigger house. I have about 40,000 in equity. Would it be beneficial to rent out current house and buy a different one or just sell and buy? House is in a good/growing town with good schools. There is no fighting my wife on the need to move. It's near Des Moines, Iowa. [link] [comments]  |
| Buying a home in the Bay Area and building in-law suite Posted: 02 Feb 2018 02:22 PM PST Hi everyone, I have no idea where to start, and all my googling is getting me nowhere, I apologize for my complete lack of knowledge. Background: husband and I have been married for a year, have a combined household income of around $7,000 a month (looking likely to hit $8k a month very soon). We are renting an apartment in the East Bay for $2k/month. My parents are renting a home in the South Bay for almost $3k a month, and have a household income of about $6k/month and are struggling deeply. They have several young children so a bigger home is necessary. Goal: To purchase a 4-bedroom home in the Bay Area that is around $800k (0 down payment with a mortgage of about $5k a month) and then build a 2bed-2 bathroom home in the backyard for my husband and I to live in. Questions: Is this a good idea? A $5k mortgage sounds ridiculous and I'm really scared to sign up for something like this. My fears are centered around a recession, job loss, etc. Also, how much would it cost to build an entire second home in California, and how long does that take? (I've seen estimates of $100k and 8 months, but they were not specific to Northern California). Also, I'm wondering what type of loan that would be, and if it is a smart idea to immediately add that second loan on top of the mortgage. My husband and I would live in the main house during construction, FYI. Also, I've discussed this with everyone involved and we all see this as a long-term plan. This would conceivable be the only way for my husband and I to have children (free childcare from my mom so that my husband and I can both continue to work full-time, having my mom close by is necessary, and we would offset their mortgage/monthly costs by paying more). [link] [comments]  |
| Posted: 02 Feb 2018 07:23 AM PST [Malta][Europe] I am currently thinking about becoming a real estate agent, and I have read on some articles & watched on YouTube that if you want to make serious amounts of money per year, it would be better to try and sell real estate that 99% of the population cannot afford. The reasoning behind it is that if you are selling an apartment that in your country/location, 99% of the people afford it, then you will get a lot of people wanting to make an appointment and see it - thus wasting your time and money on fuel etc before actually finding that person that buys it. Making the success rate like 1/50 views. Since 99% of the population can afford it, it means that the commission is not going to be huge and you must remove brokerage fees & taxes, leaving you with nothing special. Or you can focus on selling just 1 property in which only 1% or less of the population can afford. This will eliminate most people from the list, BUT those that actually come see it, will have a much higher chance of buying. For example 1/4 success rate. Obviously getting those 4 people is the hard part, but If you are able to sell a property worth 2 million euros, and you make 2.5% commission after brokerage fees, - you'd still make 50,000 euros pre tax, with much less expenses and time wasted. [link] [comments]  |
| Posted: 02 Feb 2018 07:47 PM PST Hello all. Some important information: All debt has been payed off. $100k cash in total will be saved up in 3 months. Annual income of $160k pretax Credit score 790 Can get a home loan for 500k at 4.3% Monthly expenses of about $1.2k not counting utilities Live in Los Angeles and I'm looking for a home in the 600-700k range which is unfortunately pretty much as cheap as they come. I will be the sole income earner for the next 2 years until my wife graduates pharmacy school. Please ask any questions if I left out any needed details. Never been a home owner and I'm unfamiliar with all of this [link] [comments]  |
| [PA] How to find reliable help / property management as an investor/owner? Posted: 02 Feb 2018 03:19 PM PST I've been a private RE Investor since 2011. I own a company which holds most of my RE assets. I'm currently sitting on about 15 units, spread across about 8 buildings. And I can't find reliable help. I've gone to the big RE companies in the area to contract them for management. My properties sit untouched. I've handled communications with them correctly and they barely go by the house. If they do, they have a never-ending list of minor repairs and maintenance they want done before they'll show it, even when the initial discussion was 'show as-is, if minor repairs are needed for a tenant to move in I'll consider it.' I'm not asking much. My rents are about average for the area, my units are nicer than others around. When I list units they fill in 1 week to 1 month, tops, even during bad weather. I've gone to smaller RE companies looking for the same thing, and have the same issues. Either the agents responsible take no action on the property or they have other excuses for why they won't fill. As soon as I end my contract with them, I fill the units right away. And I get good tenants. No major damage, pay on time, reasonably quiet. I am considering moving out of the area for family opportunities and I need a management service I can rely on to handle showing units, taking and running applications, collecting and forwarding rents, and scheduling required maintenance as cost effectively as possible. These units make a lot of money for me with no issues, it shouldn't be more than a few hours a month for someone to do the same on my behalf. So, how do I find a person or company to do this? It should not be this difficult to find someone with more competence than me in the field, but I keep hitting duds and it's becoming a problem. Any advice is appreciated. [link] [comments]  |
| Buying my first rental property Posted: 02 Feb 2018 11:26 AM PST The property I can buy is a 4 bed 4 bath brick home in a college town. The house is in a neighborhood of all similar homes 2 miles from campus. Seller will let me have it for 130,000. I am using my first time homebuyer loan for 3 percent down. I have been preapproved and my lender calculated mortgage, taxes, insurance, pmi, and the $190 dollar hoa will total 1,085 a month. The hoa covers water landscaping and roofs of the homes. The house was built in 2003, and replacing the floors in living room should be my main expense when moving in after lookin at it. I will be occupying one of the bedrooms, and charging 400 a month for each of the other three. These places are in pretty good demand so I should not have a problem getting tenants. Is this a good buy? Am I missing anything?Any other concerns I should watch out for? [link] [comments]  |
| Losing my job. Don't know what to do with home. Posted: 02 Feb 2018 05:21 PM PST The company I work for will be shutting down within three years. We got notice today that they will start shutting the first asset down mid 2019 but I am still gonna act as if it will shut down much sooner. I currently live in a PUD (Planned Unit Development) home. Like a townhome with a small pathway seperating our homes. I purchased the property for $250,000 I currently owe about $95,000. In July I would have lived in it for 5 years. Another unit just sold for $325,000. I also have $162,000 in my savings/bank. There is an HOA of $200 a month on it. My mortgage is $1400 with HOA it's $1600. Property taxes are around $5200 a year. If I pay off the house I only have to pay property taxes and home insurance right? So about $700 a month with HOA. IF I sold it, with my savings I would have close to $400,000. So I am thinking if I sold it I could purchase a home with cash or close to it. A home without HOA and one that would hold much more value. I am in California. I was also thinking of purchasing out of state because houses are cheaper. Investing whatever I have left while I go to school or study something. Any advice or anything I am not thinking about or missed? [link] [comments]  |
| Are there downsides to using sites like Trulia, Zilla, Etc. as a first time home buyer? (USA) Posted: 02 Feb 2018 01:21 PM PST Am I gonna get locked into a portion of the home sale going to these websites or anything? When it shows choose agent from the site, what exactly does that mean? Are they buyers agents or representing the seller? Any gotchas? [link] [comments]  |
| Posted: 02 Feb 2018 04:41 PM PST My husband and I are really hoping to buy a home and we think we have found the perfect home after months looking. We are pre-qualified through my financial institution (Not pre-approved, just prequalified) - My credit is around 700, his is about 640. Combined income apx 75,000 a year. We have rented for almost 3 years and have always paid early. What are our chances of getting a USDA Loan, and if anyone has gotten one in our area, is it really as easy as it sounds once the paperwork gets going? House is 164,900$. Looking for reassurance and advice, as we are first time home buyers. General advice is welcome as well. Thank you! [link] [comments]  |
| US: is it possible to buy land in Mexico and not just lease it? Posted: 02 Feb 2018 12:35 PM PST I am interested in investing in buying land in Mexico with options of commercial development on the land itself. But is this at all doable as a United States citizen? I hear that land can't be bought It can only be leased. Can anybody explain this to me? [link] [comments]  |
| Hi, I'm planning to terminate a lease what does this mean exactly? Posted: 02 Feb 2018 03:49 PM PST [CO] I was reading my contract and this is what it states for early move out "BOX 2: LIQUIDATED DAMAGES: If this box is checked, it replaces paragraph 11 Box 1 in its entirety and you'll be liable to us for liquidated damages in the amount set forth below if you: 1) fail to give written move-out notice as required in paragraphs 23 or 37; or (2) move out without paying rent in full for the entire Lease Contract term or renewal period; or (3) move out at our demand because of your default; or (4) are judicially evicted. You agree to pay us for liquidated damages in the amount of $2580.00 as well as pay, repay, or refund any concessions and move in discounts in the total amount set forth in the Lease Contract or Lease Addendum for Rent Concession or Other Rent Discount. You agree that the liquidated damages is an amount agreed to by you in consideration of, among other things, our waiver to seek from you future rent for the entire amount of any uncompleted rental term, plus re-letting related fees, costs, and expenses. For the reasons stated and because the re-renting of the premises after you break this Lease Contract cannot be determined with any certainty, you agree that the liquidated damages amount represents a fair amount and method to allocate the numerous risks and liabilities regarding future rent and re-letting damages. You agree the liquidated damages amount only relieves you from liability for the future payment of monthly Rent and re-letting related costs and expenses, and will not under any circumstances release you for any liability to us under this Lease Contract for any other charges or amounts due under the Lease Contract, including but not limited to unpaid utilities, cleaning charges, or any physical damages to the premises, and you will at all times remain liable for said amounts or any other breaches of the Lease Contract. We will retain all remedies for your breaches and other non-compliance with the Lease Contract. You will not be released from liability on this Lease Contract for any reason whatsoever unless specifically released by us in writing." So do I only have to pay the remaining months rent and that fee? [link] [comments]  |
| Posted: 02 Feb 2018 03:00 PM PST My wife and I are about to liquidate two single-family properties in Tampa and should have about $250K to reinvest. I was looking at 6-8 unit apts. in Tampa, but came across a good deal on a trailer park. My wife wants very badly to buy a 4 or 5 unit building near the French Quarter in NOLA. I'm sure there must be a source that talks about pros/cons of different type of properties but do not know where to look. Also, any input on NOLA as an investment market is much appreciated. [link] [comments]  |
| Question on disclosures relating to crime Posted: 02 Feb 2018 02:35 PM PST A house in my area is for sale and under contract. The previous owners are selling because their young child was shot while in their back yard. This didn't make the news in our area. I'm curious, would the sellers be obligated to put this in their disclosures? [link] [comments]  |
| Potential neighboring minor subdivision hurting my property - what can I do? Posted: 02 Feb 2018 11:51 AM PST Without writing an extremely long message I'll try to give bullet points of the salient info -- feel free to ask questions.
With that rough backstory... now my neighbor wants to split his property into three separate properties and sell off his backyard. He's already got plans and buyers for the new homes. These new homes would ruin our views and lower the value of my property (in addition to the simple existence of the houses, they are clear-cutting the land and simply plan to pay the fine - which is an acceptable 'out' in the tree preservation ordinance), the grading plans would almost assuredly kill a number of trees on my property (due to wetlands and extreme topology of his backyard) AND (most importantly) would also suddenly make our house unacceptably public. There are a number of other issues as well (the easement begin made too small, two stormwater basisns), etc. The do, with herculean efforts (the neighbor needs to move his driveway and re-orient his house so the side setback applies to the other properties rather than the 'back' setback... then rip off his deck so they fit [all the new houses will be minimum setbacks...), meet all the zoning minimum sizes and such. We are zoned such that the minimum lot is .2 acres even though our neighborhoods average lot size is 1.32 acres and the smallest property is .69 acres. .. so meeting all those rules regarding size is somewhat simple. First -- what can I do about this? Any huge brainstorms? Second -- I've gotten bids for blinds and installing a furnace and all the venting (which doesn't currently exist) and the bill is over 25k. I cannot afford a 25k bill - not to mention the ongoing costs to heat the home now that we wouldn't have unfettered solar gains. Do I have any legal recourse to recover these funds if the property split goes through? Is there a legal 'right to privacy' with relation to new subdivisions or am I just barking up the wrong tree saying that I'd need to do this stuff? Any help you can toss my way would be useful... [link] [comments]  |
| Being charged more for rent than whats stated on the licensing agreement. Posted: 02 Feb 2018 10:57 AM PST Just got an apartment in Brooklyn for $1600 a month. $450 comes directly out of bank account and $1150 cash is due per month. Didn't realize the rent on the lease states $1150 (cash to the management company that runs the building) and the rest is going to the real estate company per a separate agreement. Is this normal practice in NY? The management company for the building said it is a separate deal with the real estate company between us and them. The GF is the one on the lease and I moved here with her recently, I just signed a Guaranty of Payment. She doesn't remember signing anything specific detailing the extra $450. She was told the rent as a whole was $1600 and didn't notice when signing the lease it stated monthly rent as $1150. [link] [comments]  |
| (NYC) To rent, AirBNB or rent out in rooms? Posted: 02 Feb 2018 09:53 AM PST My tents are moving out this weekend. Before i renovate i am deciding if i should rent, Airbnb or rent out in rooms. Unit is a private two family private house. The second floor will be the rental unit. Floor has 3 bedrooms, kitchen and one full bathroom. [link] [comments]  |
| Posted: 02 Feb 2018 09:49 AM PST I'm planning to spend February studying for the California RE agent exam, and take it at the end of February. I have the entire month off of work. Given this amount of free time, is one month of study adequate to pass the exam? I know this is a subjective question, but the opinions of those who have studied and passed the exam would help! [link] [comments]  |
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