Currently in the process of testing to become a Real Estate Agent Real Estate |
- Currently in the process of testing to become a Real Estate Agent
- I would like to get landlords' opinions on Cozy.com
- Why do people here have such low incomes from RE?
- New Home Construction Costs
- House was appraised for $70K more than expected. Looking for some thoughts on how to leverage this
- Would you rather have a 100k salary or 100k passive gross rent
- Purchasing rental near a graveyard. Good or bad idea?
- What am I missing? Santa Cruz, CA pre-fab homes are between 100-300k...
- (CA, US) To whom does the grassy area on the sidewalk belong to: government or homeowner? Who's responsibility is it to upkeep it? Is it part of the land's square footage?
- For investment, would you rather buy a 1MM multifamily or 3 SFH? Both have the same total rent.
- Buyer Renegotiating After Inspection
- Repair vs improvements question
- I don't understand a portion of my Loan Estimate.. someone help
- Need advice for when to walk away
- Where do I find the option to rent a house with the option of purchasing it in the future?
- UK (London specifically) property market
- [NC] Legal Question
- First time homebuyer - credit question
- Advice needed for buying a family home
- Want to evict a squatter (brother). What are my options? [TX]
- Too good to be true?
- First time buying a home. House had a bunch of non permitted work done? Thoughts?
- Washington advice
- [MD] Builder has been sued a lot...
| Currently in the process of testing to become a Real Estate Agent Posted: 04 Mar 2018 03:25 AM PST I'm not sure if this is the appropriate place to ask these questions, and I apologize if it's not. But the few questions I have are the following: Is a qualifying broker always held responsible for the actions of their salespeople? Even if said salesperson committed fraud while representing a client? Or would both the representing agent, and broker be held liable? Whose signature would be required on a mortgage loan for the loan to be considered valid? The Mortgagor, Mortgagee? I know I have more questions, but currently can not think of the others. Thank you for any help. Location: Alabama [link] [comments]  |
| I would like to get landlords' opinions on Cozy.com Posted: 03 Mar 2018 07:30 PM PST I have a new tenant moving in on Monday who would like to pay by ApplePay. I'm not an Apple guy and was going to suggest PayPal, but came across Cozy.com. Does anyone have experiences, positive or negative? Thanks for your time! [link] [comments]  |
| Why do people here have such low incomes from RE? Posted: 03 Mar 2018 12:07 PM PST I have been saving up to invest in RE for a few years now. I started to get interested when my boss kept telling me how much he was making from his residential properties. He was making over 400k a year from them at the time and probably more today. He was able to retire at 40 which motivated me. So I started researching and looking through ads and talking to brokers and owners. But when I look through this sub, I'm seeing a lot of people barely making any cash flow and sometimes in the negative. What's the deal with this? Why are some people making so much and other making very little? I live in Toronto if that makes any difference. [link] [comments]  |
| Posted: 03 Mar 2018 03:35 PM PST So question, I live in West Michigan and my wife and I are buying a lot now then plan to build a house in a coupe years. When I talked to my loan officer he said custom home range $150 to $200/sq ft. If that's the case the 2300sq ft 2 story home we want to build would cost over $300k minimum. But yet a house next door sold last year for $310k and it's 3,900sq ft! And it's beautiful, a dentist built it. Does one usually lose money building a house? Something seems off [link] [comments]  |
| House was appraised for $70K more than expected. Looking for some thoughts on how to leverage this Posted: 03 Mar 2018 07:39 AM PST Bought my first home a year ago and it appraised for $226,000 . I am refinancing to a 20 year mortgage this year. The appraisal came back at $299,000. Initially my plan was to buy future real estate down the road, but this seems to have sped up that process up. Just wanted to some advice/next steps I could take to put the equity to work. Some details: House is in Baltimore City, MD and I am looking to buy in Baltimore city I have ZERO debt other than the current mortgage ~$215,000 Save about $2,000 a month Any advice/thoughts are welcomed! [link] [comments]  |
| Would you rather have a 100k salary or 100k passive gross rent Posted: 03 Mar 2018 06:41 AM PST What would leave you with more money after taxes assuming you did write offs. [link] [comments]  |
| Purchasing rental near a graveyard. Good or bad idea? Posted: 04 Mar 2018 03:58 AM PST Apparently it's bad Feng Shui, and turns away many potential renters (& buyers). Anyone have any thoughts on buying a property 3 doors away from a cemetery? [link] [comments]  |
| What am I missing? Santa Cruz, CA pre-fab homes are between 100-300k... Posted: 03 Mar 2018 11:36 PM PST Hello, I'm currently looking for a new place to rent here in Santa Cruz, CA. While on Zilllow rentals, I came across pre-fab homes for as low as 100k (link below). Santa Cruz is one of the most expensive places to live in the country. I'll be LUCKY to rent a crappy studio apt for $1500 a month. Could I really save 20% of the cost of one of these houses and pay a $500-$1000 month, for a 15 year mortgage? I have to be missing something. Any help/advice would be greatly appreciated. [link] [comments]  |
| Posted: 04 Mar 2018 02:10 AM PST Correction: mean to say "Is it part of the property?" [link] [comments]  |
| For investment, would you rather buy a 1MM multifamily or 3 SFH? Both have the same total rent. Posted: 03 Mar 2018 11:06 AM PST I am in Idaho. Let's say you have 1MM to spend. Two options: 1) You can buy a 5-unit multifamily with each of the units renting for $900, meaning the total rental income is $4500. 2) You can buy three single family homes, each one renting for $1500, meaning the total rental income is also $4500. Same location, etc. All else held equal. What would you choose? On the one hand, there are more units with the multifamily, but on the other hand, single family homes tend to appreciate more. Or is there a third option? [link] [comments]  |
| Buyer Renegotiating After Inspection Posted: 03 Mar 2018 08:23 PM PST I am buying and selling at the same time, and recently had a home inspection completed (by the buyer) on the home I am selling. I'm hoping for some input here, because this situation seems a bit unreasonable to me. The house is older, and needed a lot of work that we did not see and was not expected based on our inspection just a few years ago (ironically from the same company). The fixes were things that we caught early and were likely due to a mix of the house age and quick, cheap fixes by the previous seller. Edited to add: we accepted an offer, and the buyer then scheduled the inspection. The inspection now came back with a lot of line items, mostly just comments about things like "this is missing a screw" or cosmetic issues (we did update some things but not everything we wanted due to the repairs). However, the major concern was the roof which we knew was aging but did not realize was having issues. I fully understand a request relating to the roof. But that's not what we got from the buyer. In fact, the buyer did not request any repairs. Instead, they countered back with knocking about 10% off the purchase price and doubling the request for closing costs. The expectation is that we will come out with about $25-30k less than anticipated (which isn't feasible). I am waiting for estimates from roofing companies since this will need to be fixed regardless, but it comes across to me as if the buyer thinks the inspection is a checklist for everything that I need to fix, and is therefore expecting me to finance a remodel. A roof is not 30k. I find it odd that there was NO repair list requested, just cash and a price reduction, and many of the callouts in the inspection report were things that were obvious or disclosed. Is this strange? Is it possible that they are expecting us to counter, or does it sound like they are throwing something extreme in hopes that we walk? [link] [comments]  |
| Repair vs improvements question Posted: 03 Mar 2018 07:15 PM PST From the interweb:
So why is a roof replacement considered an improvement? It doesn't add value, nor is it an upgrade. If a window breaks and I replace it, it's a repair, but if my roof leaks and I replace it, it's an improvement. What gives? [link] [comments]  |
| I don't understand a portion of my Loan Estimate.. someone help Posted: 03 Mar 2018 05:12 PM PST Nobody, not even my loan officer can help me understand the portion that says "down payment/funds from borrower". We are doing 100% financing so there is no down payment. What is funds from borrower? I understand how the number is calculated, but I can't get a clear answer on the definition of "funds from borrower". Can anyone please simplify this for me? I am in Tennessee. [link] [comments]  |
| Need advice for when to walk away Posted: 03 Mar 2018 05:12 PM PST Sorry for wall of text, just want to paint the entire picture. TLDR at end. I recently had an accepted offer and completed attorney review on what would be my first home (NJ). The house is a flipped property, and I'm aware going in that sometimes flips have their own issues, but I do not want to take on a complete fixer upper. For its price, there was nothing cheaper that didn't need a lot of work, and anything more expensive usually was too large of a home for me and unnecessary. I had the inspection last week, and immediately I was sceptical because the sellers said when they turned the water on there was an issue, but it would be corrected. Ok, strike one. The inspection actually went pretty well I thought, the roof could use a new layer, needs a new fence, some cosmetic things, but overall not terrible. There was an issue with the crawlspace, as we had 3-4 days of rain last weekend, and there was some standing water present. The inspector said the floor joists were fine, no signs of mold, might just need to replace a few pieces of insulation and get the water out. Planned on calling a company to get an estimate for a vapor barrier and possibly a sump pump, and going to the sellers to see what they'd pony up. Strike 2, but not enough to totally sway me away from the house. My lawyer is pretty good, had faith we could negotiate on this. My agent was contacting theirs all week about getting the plumbing on so my inspector could finish the inspection, and they kept having excuses (plumber was sick, religious holiday, weather). My inspector had to retrieve the radon can today, and we had torrential downpours the past 2 days, so this was the perfect time to check on the property. He called me and said that it appears they tried to turn the water on, but perhaps they winterized the pipes improperly and it was still off. There were massive water stains on the ceiling below the upstairs bathroom. There were pools of water in the kitchen, and water still dripping from the ceiling. Huge strike 3 I think. I talked to my agent, he said to wait until Monday so my lawyer can contact them about the damage and repairs. He said as long as they repair the issue to my satisfaction and I approve of an inspection that he wouldn't immediately terminate the deal. It's in my ideal location, I love the layout, taxes and price were perfect. But in its current condition I know I can't buy the house. I'm afraid if they do a half-ass repair on the plumbing this could be another major issue down the road. But if they repair the plumbing and ceiling out of their own pocket (which they're going to have to do regardless of whether I buy the property) and negotiate on crawlspace encapsulation, I might be getting a great deal on the place. TLDR; inspection went not so well, sellers were trying to conceal a huge plumbing issue that is still ongoing. Should I allow them to repair the issues and trust them to do it correctly, or just wait for something else to hit the market? [link] [comments]  |
| Where do I find the option to rent a house with the option of purchasing it in the future? Posted: 03 Mar 2018 07:12 PM PST I remember seeing something on askreddit where a company would buy a house and rent it out to others with the option of buying the house in the future. What is this called? Thanks in advance [link] [comments]  |
| UK (London specifically) property market Posted: 03 Mar 2018 06:32 PM PST Hi all, I have a 2 bedroom flat in London that was bought in 2012 that has increased in price quite a lot but isn't big enough anymore. I am living overseas for the next year so it isn't an issue but we would like to buy somewhere bigger. I am thinking it might be worth selling now, save hard for the next year and then pick something bigger up for cheaper if Brexit hits the UK property market badly. Does this sound sensible? Or is it a bad time to sell and the UK property market will be stable after brexit? Thanks [link] [comments]  |
| Posted: 03 Mar 2018 06:01 PM PST Greetings, I am backing out of the contract because of multiple red flags that came to my attention from the inspections. In this case, can I get the due diligence fee refunded back to me? Thank you for any help [link] [comments]  |
| First time homebuyer - credit question Posted: 03 Mar 2018 05:27 PM PST I'm planning on purchasing my first house in the next 3 - 6 months. I've been working hard on my credit for the last ~1.5 years, and I anticipate being >700 (696 right now, carrying a small balance on a 0 interest card that I will pay off when I need to) when I decide to transition from planning/researching and viewing homes with the intent to put an offer in (and getting prequalified for a mortgage first). When I check my credit score (via both Capital One's credit score tool and Credit Karma), my on-time payment calculations show 3 late payments from 2015 (which is really 1 90 day late payment, which I'm hoping CO will take off with a good faith letter I recently submitted). However, on my credit report are also my closed accounts (obviously) and a few of those accounts also had late payments. It doesn't seem like those late payments are being factored in to my credit score right now, even though they are on my full credit report. My question: when I do apply for pre-qualification (and eventually a mortgage) does the mortgage lender read through my full credit report and will those late payments hurt my offers more than they are hurting my credit score right now? TLDR; I have late payments on closed accounts that don't appear to be impacting my credit score right now, but are on my credit report. Will my poor financial management in the past bite me in the ass when I apply for a mortgage? [link] [comments]  |
| Advice needed for buying a family home Posted: 03 Mar 2018 05:04 PM PST We are buying a family home in San Diego. Based on your experience, is it better to buy a smaller place in a great neighborhood or buy a much larger place in an Ok neighborhood? Which type of property would appreciate more over time? I know it depends a lot on personal circumstances but this won't be the house we want to retire in and want to build some equity along the way. Thanks for your advice. [link] [comments]  |
| Want to evict a squatter (brother). What are my options? [TX] Posted: 03 Mar 2018 07:54 AM PST So my mom is done with my older brother who has been draining to be around with, harassing family members, is jobless, and he just generally doesn't care. He knows about the 30 days time frame that he has before something has to be done. If the cops come around, he'll for sure leave but they can't do something now since he legally can stay at my mom's house for the next 30 days. I know about the letter to evict, but at the end of the 30 days, he can still not leave right? It's basically when my mom can go to court to evict him? Also, I have this hypothetical question. Say that my mom transfers the property to me, can I legally swiftly call the cops and say that there is an unwanted person at my house? Thank you [link] [comments]  |
| Posted: 03 Mar 2018 09:08 AM PST Afternoon /r/realestate. I hope this is the right place for this, me and my Long term gf have been trying to move into together but tough finding what we're looking for. Then out of the blue today we get this email back which seems almost way to good to be true. I've attached all the Information in pictures. Is any of this a big red flag? What should we be worried about? link to correspondence. In Boca Raton, Florida. [link] [comments]  |
| First time buying a home. House had a bunch of non permitted work done? Thoughts? Posted: 03 Mar 2018 08:45 AM PST I went to check out a house with the wife and the guy basically must be a handy man or whatever but he did a whole bunch of work himself. This includes electrical, kitchen remodel, adding a firepit ect. My relator sent me the list after checking it out and makes me nervous? Has anyone ever encountered this, and best to handle? Edit I'm in the US, CA [link] [comments]  |
| Posted: 03 Mar 2018 08:32 AM PST My wife and I are trying to buy our first home in Everett, Washington. Everett is about 40 minutes north of Seattle so not as expensive but still crazy competitive. So financially savvy friends have been saying it may be better to hold off on buying because they believe the market is leveling out or may start dropping in a year or two. Are there any Washington folks who might have some advice? [link] [comments]  |
| [MD] Builder has been sued a lot... Posted: 03 Mar 2018 02:09 PM PST We have been looking a homes for a few months now and have finally come across one that checks off most of our needs. It's a relatively new three townhouse construction done in 2014. The current owner has kept it well maintained. I've been doing a lot of digging into the original builder and they've been sued a LOT, like once a year for the last 7 years. They have been in business since 1992. Unfortunately, I can't seem to figure out if the cases against them are related to their business or personal. This is kind of spooking me away from the house, what if they cut corners and I'm getting into a bad situation. Am I overthinking this? What would you advise? [link] [comments]  |
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