TENANT DISASTER, MY CONDO IS TRASHED! HOW DO I FIND GOOD TENANTS? Real Estate |
- TENANT DISASTER, MY CONDO IS TRASHED! HOW DO I FIND GOOD TENANTS?
- Are sellers delusional or are people actually overpaying?
- [WI] Should I ever feel guilty for asking my realtor for too many showings?
- Seller wants a 1 month leaseback. What do I need to do?
- East Coast (PA, VA, WV, NC, SC, or GA): Looking for some kind of reasonably "nice " property for $50k or less.
- Real estate professionals, is it worth it to get a masters?
- Considering buying a condo but living outside the US in the next few years
- Leasing a car while in the market for my first home? [Los Angeles]
- Feeling Pushed Around By City Planner (Texas)
- Billboard on property I will buy
- St. Louis, MO. Should I just buy a house?
- Which is the "better" deed for a married couple? Tenants by Entireties (with right of survivorship) or Joint Tenants with Right of Survivorship? [FL]
- Should I buy a house now?
- Buying and selling a house at the same time.
- SOS Questions about Managing properties
- Buy a house in college town to rent out?
- QuitClaim question.
- House is on market starting today
- The One that Got Away
- https://www.wsj.com/articles/mortgage-rates-at-a-four-year-high-threaten-to-roil-housing-1520539554 (US)
- Looking for a Realtor to buy my first house in Lake Norman, North Carolina
- [NJ] Trying to obtain a CLUE report, fire/police reports
- Does Builder usually seal deck?
- [Ohio] How do I get out of my apartment?
- [AZ]Signed offer letter to buy a house and learned that the seller is an acquaintance. Should I contact them directly or keep communication through agents?
| TENANT DISASTER, MY CONDO IS TRASHED! HOW DO I FIND GOOD TENANTS? Posted: 09 Mar 2018 01:49 PM PST I decided to lease my condo to a young couple in their 30's. They seemed like great people and their credit and background checks came back clean with scores in the low 700's. We executed a lease, AND THAT'S WHEN IT ALL WENT DOWNHILL. Three months later they stopped paying rent so I gave them their 24-hour notice that I would come to inspect the property. When I walked into my condo I almost had a heart attack when I saw the condition it was in. Everything was trashed. I told them they would be receiving an eviction notice and it must have been within a week after I hadn't heard from them that I told them I was coming back; the property was vacant and now I'm left with probably $ 20K in expenses to fix the place up. CAN SOMEONE PLEASE TELL ME THEIR SECRET, WHAT ARE YOU DOING TO FIND GOOD TENANTS? IS IT EVEN WORTH SUEING? I CAN'T EVEN FIND THEM. ANY ADVICE IS HELPFUL THANK YOU. [link] [comments]  |
| Are sellers delusional or are people actually overpaying? Posted: 09 Mar 2018 06:25 PM PST Found this cool updated duplex. Very nice finishing. On the edge of a trendy area. The rents in the neighborhood are averaging $800 by zestimate (no actual comps on the street). Closest comps are $725-750 though (few streets down). They were asking $185k so I clicked in and was impressed. But it says they want $185k per door! What investor would ever buy something at .45% compared to the 1% rule? The majority of MLS listings are like this. But they wouldn't be this high if people were not buying right? I guess people who aren't in it for cash flow? I should mention this is Indianapolis by Fountain Square but in Bates Hendricks. [link] [comments]  |
| [WI] Should I ever feel guilty for asking my realtor for too many showings? Posted: 09 Mar 2018 08:18 AM PST I've officially had a realtor for about 3 months now, and we've gone to probably 15-20 showings, each of which last about an hour or so. Three of those showings have turned into offers, and one was accepted (fell through on inspection). I feel like my realtor has put in a large amount of work for the compensation he will theoretically get once my purchase goes through. When we're at showings, we'll see 2-3 parties come and go in the time we're there. I never feel rushed through a house, but I feel like I would be frustrated as the realtor if my client took an hour to go through a house just to find out that he didn't like it enough. He's polite enough that he wouldn't bring it up, though. Should I ever feel guilty about asking for too many showings/too much of his time, especially when my price point is only around $200,000? [link] [comments]  |
| Seller wants a 1 month leaseback. What do I need to do? Posted: 09 Mar 2018 09:01 PM PST We got a deal on the place and the loan approved pending appraisal. The seller wants to stay another month after closing and will pay rent. This is perfect for us, because we don't have to move out of our apartment for another 2 weeks after she'd move out. We had her sign a short agreement that was just about the dates, money, and turning everything over in the same condition as closing. Overall I trust this lady and had no reservations about agreeing to this deal. What do I need to do to cover my ass? Specifically insurance related. [link] [comments]  |
| Posted: 10 Mar 2018 02:50 AM PST Hey All, I know it's a long shot--i'm not totally naive when it comes to real-estate, and I know that a place in this kind of budget is going to severely limit what's available to me. That said, I'm looking for a property I can purchase outright for about $50k or less. Within the realm of what i'm envisioning:
$50k is the maximum base cost that i want to spend--taxes and other various fees included I'm okay with going above that. So what does /r/realestate think? Is this a silly pipe dream or feasible with the right combination of planning and research? Thanks to all who respond! [link] [comments]  |
| Real estate professionals, is it worth it to get a masters? Posted: 10 Mar 2018 01:05 AM PST I am interested in going in to commercial real estate. I am a finance major, but I am unsure if I should get my masters or not. [Southeast] [link] [comments]  |
| Considering buying a condo but living outside the US in the next few years Posted: 09 Mar 2018 08:41 PM PST We are looking to purchase a home and live in it for the next 2 years. However, my wife's family is in Brazil and we may live there for 3-4 years eventually. What is the best way to rent out my condo and have someone manage the day-to-day hassles of possible maintenance problems, etc.? [link] [comments]  |
| Leasing a car while in the market for my first home? [Los Angeles] Posted: 09 Mar 2018 06:19 PM PST I'm currently in the market for my first house. My monthly payments for my current car are $435 + $210 on Gas = $645 Plus the maintenance and whatnot. My monthly take home ends up being about $5,500 living at home so no mortgage payment. I'm still thinking of lowering the cost of my car by getting rid of my current one and jumping into a lease. The leases I'm looking at will bring me down to about a $400/ month. Is this a totally bad idea? Will the credit check become a problem if I finally end up finding a place in the near future? [link] [comments]  |
| Feeling Pushed Around By City Planner (Texas) Posted: 09 Mar 2018 07:57 PM PST Posted in r/legaladvice as well, but thought someone over here could have some input for me. I got a home under contract about 30 days ago with a 3/2 main home and a 1/1 detached garage apartment. During the due diligence phase, I went and talked to the city planner to make sure the 1/1 was a legal structure. He said it was grandfathered in and a pretty lucky thing for me- good to go. Here we are 5 days from closing and the appraisal hasn't come in because the appraiser needed the city to confirm that the 1/1 was a legal structure. The city spent m-f waiting on the permit to come in from storage, and then informed the appraiser that the 1/1 was properly permitted 4 years ago, but it was permitted in error, so if the structure was ever damaged more than 51%, it would have to be torn down and couldn't be rebuilt. The home won't appraise (I'm assuming bc we heard their were no comps today) without the 1/1 unit taken into account and the appraiser won't take it into account because the structure cannot be replaced in the event that it burns down or whatever. My question to you is, can the city say we permitted this in error 4 years ago, and even though it was ok with us then, it's not ok with us now? Is it worth following up with a local lawyer to talk to the city on my behalf? Or is the city in the right and it's just tough luck for me? TIA for any input. P.S. IDK that it matters, but the property is 3 lots. The 3/2 sits on two of them and the 1/1 sits on its own lot and is metered with all of its own utilities. Is there any argument I could make that the 1/1 is it's own thing separate from the other house? Like, I'm buying two separate houses on separate lots and they just happen to be for sale together from the seller? [link] [comments]  |
| Billboard on property I will buy Posted: 09 Mar 2018 05:38 PM PST I live in El Paso Texas and will soon purchase a small property on a busy street for $24k with nothing but a billboard with two signs that face the same direction on it. The original owners are paid $1,600 a year for having it on the property. My plan is to make a paid parking lot on the land and keep the billboard. Other than looking at a couple of threads in search of some insight, I have zero knowledge on billboard leasing, so I come here hoping I can get some information such as: •when I become the owner of the lot, will I be able to modify the lease? Maybe lease it for a couple hundred more a year? •If I find it more beneficial, can I tell the billboard company to take it down? Or just move it to another location in the same property? Any extra insight will help! Thank you. [link] [comments]  |
| St. Louis, MO. Should I just buy a house? Posted: 09 Mar 2018 11:17 PM PST Alright so right off the bat I am sorry for my stupidity. So I know my credit union (BECU) offers mortgage amounts up to 400k and apparently grants for $6000 (for the deposit). The rent for a 1 bed room in St. Louis is on average $650. You typically need 6 months employment and make 3x rent. I make 1280 a month before taxes and around $1000 after. The average home value for St. Louis is 109,000 according to Zillow and I only want a really small house. Utilities for electric would probably be $20 a month, then water $50(?), trash/sewer (50??), and that's it? So for a 30 year mortgage on a 109,000 (520) + utilities = $640? (roughly 200-300 more, due to pmi, taxes and insurance) So that's $940, at max. I don't have 6 months employment, I don't make 3x rent, the house will almost certainly cost less than 109,000, I've been doing apartment searching and called over 60+ places that denied me. I'm not positive I'll get the grant for the deposit, which is fine. I'm only trying to make the deposit and my credit is 670 and going up. I could airbnb or Rent out a room if I get a more than a 1 bedroom house. I just want a place to live but I am utterly incapable it seems to get even a studio apartment. Before I even start to figure out how to get a house, I should figure out if should. At worst, I'll get around a 110k probably 3 bedroom house and then be able to rent out the 2 rooms for 500 each. At best I'll get a 50-80k 1 or 2 bedroom place that drastically reduces the rest of those numbers. So, should I get a house or have I missed something? [link] [comments]  |
| Posted: 09 Mar 2018 01:22 PM PST We are buying a new house in Florida and are trying to determine which deed is better. It seems like the Tenants by Entireties is the better/safer option but I'd like to hear from any agents, lawyers, or other RE professionals in Florida. Thanks! [link] [comments]  |
| Posted: 09 Mar 2018 02:01 PM PST My lease is up in June and I've been thinking of buying my first home. I'm looking for property in Orlando, FL around 200k range and I could afford to put down 20%, but everything keeps rising; interest rates, rent, and property. Should I buy now, when my lease is up or keep saving and wait another year? I keep reading the market is going to dip, but I'm not sure when. [link] [comments]  |
| Buying and selling a house at the same time. Posted: 09 Mar 2018 12:54 PM PST I'm currently under contract and waiting for my house to finishing building in the next few months. Unfortunately, I didn't include a contingency to sell my current home before purchase. I have a HELOC I can use for for a 26.5% downpayment but I'd like to put 40% down to lower my monthly payment. That would require selling the house. My goal is to close on both houses at the same time and move out of one and straight into the other. Which, from what I've googled, may not be feasible. My current plan is to sell to Opendoor or OfferUp as they let you stay in the house a few days to a week after close. Their offers for my house are about 5-10k under the Zillow estimate. Does anyone have any advice or possible alternatives? [link] [comments]  |
| SOS Questions about Managing properties Posted: 09 Mar 2018 11:39 AM PST My parents have a few properties in NYC (apartment buildings) that they manage on their own. I am not a business major in any capacity and they always say they are worried how I will ever understand how to manage the properties when the time comes. Would taking a real estate class be a good start to learning? They want me to avoid hiring a property manager at all costs. Are there classes I can take online without going to school for this [link] [comments]  |
| Buy a house in college town to rent out? Posted: 09 Mar 2018 09:55 AM PST So for the longest time I've wanted to own a house in the college town that I went to school in. My husband is currently in the military so we are moving around a lot and it isn't feasible to buy a house there that we would move in to, but the area has a high population of college students who rent the houses in the area. I haven't bought a house yet but I want to start sooner rather than later. I know that nothing in real estate is guaranteed, but is there money, or at least someone to pay my mortgage, in this, or should I forget about it? edit: location is in Bellingham, WA [link] [comments]  |
| Posted: 09 Mar 2018 11:14 AM PST (GA) I started a QuitClaim through our Mortage Company. I also have a co-owner. I told them I do not want to be responsible for the payments (or any missed payments) after the home has been refinanced to my co-owner under the QuitClaim. I have been researching online for QuitClaims and the reply from the Mortgage Company sounds like a contradiction. Is this correct or only partially correct? This is the reply I received: "Since Jason is refinancing you will be removed from the current loan. The new loan will only be in Jason's name. The Quitclaim deed is an agreement for you to sign, signing off your interest to the property. The Quitclaim deed will not be recorded if the refinance does not go through. Once it is all finalized and approved you will be completely removed from this property. You will no longer be liable." [link] [comments]  |
| House is on market starting today Posted: 09 Mar 2018 09:09 PM PST I just put my house on market today, real estate agent seems very honest and helpful, took pics and posted up. I'm not reporting any issues but just curious if there is anything else I could do to ensure house visits for potential buyers goes well to ensure the best for my house. Thanks in advance. [link] [comments]  |
| Posted: 09 Mar 2018 12:07 PM PST [USA - Ohio] This isn't an attempt at karma, upvotes, or even looking for sympathy. Just looking to vent and maybe get feedback from others who've been in similar situations. First time home buyer here and after a hundred or so properties I looked at online, 10 or so I saw in person, I ultimately put an offer in on a place I thought was absolutely perfect for what I was after. Offer I made was reasonably under asking based on comps in the area with concessions that I wanted to have to roll closing costs into the mortgage, plus have seller install AC (something the selling agent advised the seller was willing to do), which all numbers considered made the total offer the full asking price. Also added an escalation clause up to an additional amount since I knew there was at least one other competing offer, but overall felt super confident that I made a good offer and would at the very least have a chance to negotiate. Then I got the call. Seller just took the other offer, no counter or anything. Didn't even sound like the escalation clause mattered, but that the difference was likely very small between the offers. I did tell my realtor to submit a secondary but I really doubt it'll matter. Feeling absolutely gutted and rather despondent about the situation, knowing that I may have sat on the decision to offer even a day longer than I should have and lost out on what has been the best fit so far. Thankfully I am not in a rush to get into a place and can keep looking - my parents have been gracious enough to let me reclaim my bedroom for a while to save for my place - but I am not looking forward to extending my stay even further now that I have to start over. It sucks a lot. Anyways... TL;DR I am quickly coming to realize home buying in this market is extremely stressful and a awful rollercoaster ride. [link] [comments]  |
| Posted: 09 Mar 2018 02:07 PM PST "The rate for a 30-year fixed-rate mortgage rose to 4.46%, the highest in more than four years and the ninth consecutive week of increases, according to data Thursday from mortgage-finance giant Freddie Mac . At the start of the year, the average rate was 3.95%." "Rising mortgage rates already have crimped refinancing activity and pushed would-be home buyers who are on the margins out of the market as home prices also have risen." "While the rates remain low by historical standards, millennial buyers, who are often making their first home purchase, could suffer sticker shock. "They will be the preponderance of the market purchasing homes over the next 10 years," said Ed Robinson, head of the mortgage business at Fifth Third Bancorp. "And they've never seen 5%."" https://www.wsj.com/articles/mortgage-rates-at-a-four-year-high-threaten-to-roil-housing-1520539554 (US) [link] [comments]  |
| Looking for a Realtor to buy my first house in Lake Norman, North Carolina Posted: 09 Mar 2018 03:58 PM PST I read the rules. I can't figure out the realtor.com website to find a realtor. I didn't see anyone making posts like this, but I also didn't see any rules against this. Here's some criteria: Preferable, but not a deal breaker:
Required You're into boating, and you know a lot about the lake These are sample questions I would be asking my realtor:
Feel free to PM me. [link] [comments]  |
| [NJ] Trying to obtain a CLUE report, fire/police reports Posted: 09 Mar 2018 12:28 PM PST We're closing on a home later this month, and they disclosed a fire that required significant repairs a few years ago. Our home inspector found Federal Pacific subpanels (recalled and a fire hazard fyi) and is suspicious that the definitive cause could be due an electrical fire. The sellers are claiming that it was a grease fire in the kitchen. The main electrical panel has been replaced, but there are 2 FPE subpanels still in use. I'm trying to get the CLUE report from the sellers, they're requesting it directly from LexisNexis and it's been almost 2 weeks, surely it doesn't take that long. Any other way I can verify their claims that that cause of the fire was due to grease? I'm just looking for some reassurance that the electrical is not the cause. [link] [comments]  |
| Does Builder usually seal deck? Posted: 09 Mar 2018 09:06 AM PST Just recently went into contract on a brand new construction. Had our inspector out, and he noticed the exterior railings leading up to the front door were just primer, and the exterior deck was bare wood, and had water collecting on it during rain. We sent a punchlist to the builder to fix, but they pushed back on these items, saying they do not seal decking or railings, as generally homeowners pick their own color and paint to suit. That seems like a lazy response, but thought I would check here: Is it common for builders to leave decking untreated for the reasons stated above? For some context, this is in Seattle, so sealing against moisture is absolutely critical, given the amount of rain we get in the colder months. [link] [comments]  |
| [Ohio] How do I get out of my apartment? Posted: 09 Mar 2018 10:02 AM PST 5 months left on my lease on April 1 when we are supposed to move into our new home. Apartment complex said we could get out with 60 days notice + 2 months rent (aka 4 months of rent, essentially). They also said I could do a lease takeover, but nobody has bit on my craigslist ad in the week has been up. Can I just vacate and give them the keys and tell them I expect them to mitigate based on Ohio law? If I keep paying during that time are they still forced to try to mitigate or do I have to risk not paying and them coming after me? I'd rather just keep the place with all my extra stuff in it until I'm ready to move and let it sit for 5 months then give them 4 months rent to not have it. [link] [comments]  |
| Posted: 09 Mar 2018 09:24 AM PST I'm not sure if he recognized my name or has my contact info, but he will know who I am. Can I talk to him about the house? [link] [comments]  |
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