If rent-to-own is nearly always a bad deal for the tenant, does it imply it's nearly always a good deal for the landlord? Real Estate |
- If rent-to-own is nearly always a bad deal for the tenant, does it imply it's nearly always a good deal for the landlord?
- Anyone care to take me along their day as a Real Estate Agent in the LA area?
- Can you bring a general contractor consultant to a house showing? Is that even a thing?
- Thinking about buying an apartment unit
- Is it normal for a home insurance broker to even deny getting me quotes because a renter has a certain breed of dog?
- Buying a home (to live in) that has a future lease signed (currently unoccupied)
- Received handwritten letter from “neighbor” inquiring about purchasing my off market apartment
- New House, general/generic upgrades to look for before moving in?
- Can I sell my condo without the transfer stamps from the city? (Chicago land area). They are processing it now but not sure it will be ready by Monday.
- NYC Construction
- Tired of losing in the stock market. How do I get started to become a hard money lender? I would prefer to work with a lender that manages many investors. Example: I invest $30k with a company that pools a lot of hard money together, then I get investment return checks. Thoughts/advice?
- Please help, advice needed on home I'm closing on on Monday(Legal or any advice welcome)
- Thinking about using a flat fee MLS listing service for FSBO. If I offer a large buyer's agent commission (3%ish?) will I get most of the benefits of a realtor at a steep discount???
- Is it me or are a lot of houses are bought, but no one physically lives in them? [CA]
- Any good places to search for real estate based on broadband (not DSL) availability? [TX]
- Lead Generation
- Can't get a closing date
- Preapproved for VA loan..what now?
- Selling my own home, have a buyer, documentation help (CA)
- Lakehouse help.
- Misleading agent during negotiation
- My brother's investment property will be paid off soon. I've heard one month's rent should be 1% of a home value but he's getting about .05%. What would you do?
- HO6 is not covering SLA, please advise
- Has anyone used Accumeth, home meth testing kit? Need help/opinion asap.
| Posted: 27 Apr 2018 06:17 PM PDT How would you, as a landlord/owner, write a rent-to-own contract in your favor, without flagrantly cheating the tenant? [link] [comments]  |
| Anyone care to take me along their day as a Real Estate Agent in the LA area? Posted: 27 Apr 2018 03:55 PM PDT I'm 18 and when I look into my future I can see myself selling houses. I love social interaction, talking about houses and of course, looking at houses. Now I know it's not simple. I want to try to get a feel on what exactly a Realtor's responsibilities are on an average day. So I would love to follow your footsteps. I want to learn and pick knowledge from your brain about the job. I essentially want a mentor for a day. So please, if you're in the Los Angeles, California area, comment or DM me if you wouldn't mind me going on your daily journey as a Realtor. [link] [comments]  |
| Can you bring a general contractor consultant to a house showing? Is that even a thing? Posted: 27 Apr 2018 07:00 AM PDT Location: Overland Park, KS, USA. My husband and I are looking at a house as first-time home buyers. The house isn't turn-key, and will require some work. We have no experience with anything house related, and have no idea what the cost might be to do some of this work. (Scrape popcorn ceilings, replace flooring, possibly remove a wall, etc.) Is there such a thing as a General Contractor Consultant? Could they come to see the house with us before we put in an offer to give us ball park estimates on cost, what we could ourselves vs. what we would need to hire someone to do, so we can decide whether we can afford the investment? [link] [comments]  |
| Thinking about buying an apartment unit Posted: 27 Apr 2018 08:42 PM PDT There's an apartment unit (1 bed/1 bath) on sale near me for around $59,000 (I live in NJ). This unit is close to a train station, a mall, a bus stop and is generally in a prime location due to it also being close to good schools. I'm currently working a job and make 30k/year after takes + have 10k saved up. I was wondering if it would be a good investment to start off with. I was looking for some positives/negatives that would go with it. I can possibly rent out the unit for around $1500/month, and it also looks quite new from the inside. [link] [comments]  |
| Posted: 27 Apr 2018 01:47 PM PDT Clarification: I'm in the process of buying the house I currently rent. It's a duplex, I live upstairs, the downstairs neighbors moved in about 6 months ago and have another 18ish months on their lease agreement. I called a independent insurance broker to get some quotes for home insurance. He clarified to me they wouldn't be able to insure me AT ALL if the downstairs neighbors own a "dangerous breed" dog. Now, I'm no vet so I can't say for sure, but I think the downstairs neighbors have a pitbull mix. Is this really weird? Should I look somewhere else? How is this even a thing? [link] [comments]  |
| Buying a home (to live in) that has a future lease signed (currently unoccupied) Posted: 27 Apr 2018 09:58 PM PDT Here's the scenario:
I've seen several other threads on buying homes with tenants currently living in the home. But this scenario has the twist of the lease taking effect in the future, woth the house currently unoccupied. The mortgage banker we're working with says we can finance this as owner occupied...but I'm not so sure that's kosher since we wouldn't be moving in within 60 days, should the lease remain in effect. The owner/seller says he thinks the future tenants could be persuaded to give up the lease before move-in...but the question is for how much. Any recommendations on how to proceed? Being a landlord for 18 months, with no guarantee of the tenant leaving at the end, doesn't seem like a good option. Doubly so with this property being about $700/month cash-flow negative. My thought is, at a minimum, to write in a contingency in our offer that the lease must be nullified. But I doubt the seller would seriously consider that offer, given how competitive the market is. [link] [comments]  |
| Received handwritten letter from “neighbor” inquiring about purchasing my off market apartment Posted: 27 Apr 2018 09:39 PM PDT I received a postmarked, hand written letter in the mail (no return address) addressed "to the owners of unit XX" from a guy expressing interest in purchasing our apartment for "a family need" while living in a "building close by". I don't know many neighbors so I'm not sure if I was the only one who got one. He left a first name and an email address to reach him. His intention is to be proactive and save us money on realtor costs. I live in a downtown metro area in a high COL area in an apartment we purchased a few years ago. We are getting close enough that we are considering selling later this year to cash out and put it toward a house. Our current place is relatively inexpensive for the location and for that there is usually great interest when a unit goes on the market. I shared the letter with a few people and got different reactions from "it's a scam" to "creepy, close your drapes" to "honest guy giving as much info as possible". Has this happened to anyone else and if so did you respond? Would you consider in this case? I'm currently leaning toward having my attorney reach out on my behalf and saying we aren't currently looking to sell unless we got a very good offer. Just slightly uncomfortable at the idea of bringing a stranger into my apartment without a realtor in order to save a few bucks. Thanks. Edit: 30 miles from NYC [link] [comments]  |
| New House, general/generic upgrades to look for before moving in? Posted: 27 Apr 2018 05:45 PM PDT House is very clean and move in ready, no upgrades other than appliances, paint and floor, but closing is in 30 days, so I wanted to see if there were anything special to look for to update before my family moves in. (Location is East Cost, USA) [link] [comments]  |
| Posted: 27 Apr 2018 10:39 PM PDT |
| Posted: 27 Apr 2018 08:37 PM PDT Can anyone detail for me the process of developing a 70 story skyscraper in NYC? What's the construction market like in terms of cost per average building? Can anyone explain what these "air rights" I keep hearing about are (I'm having a hard time understanding how that works)? If one does not have the capital to begin construction in NYC, what other city would you recommend, Houston perhaps? Philly? Sorry for the loss of questions, I'm very interested in learning about this process. [link] [comments]  |
| Posted: 27 Apr 2018 08:29 PM PDT |
| Please help, advice needed on home I'm closing on on Monday(Legal or any advice welcome) Posted: 27 Apr 2018 06:38 AM PDT TL;DR: I was supposed to close yesterday but closing day got pushed back by seller because of title issues on his side. Third Party plumber came out to fix a small problem and found many issues that inspector didn't really mention. Okay so here is the longer version. I live in Arkansas We made an offer and got it accepted last month. We setup everything and hired an inspector to come take a look, and he gave us the inspection report that was fairly positive except for a few things(the plumbing they used was not standard under the sinks and the drain lines under the house was a mess). So anyway, we sent them a list of things to fix in the Inspection report, they countered and gave us a good list they would fix. We sent them an addendum and said that we agree to their fixes and in addition they need to make sure "All plumbing is completed and no leaks exist". They agreed and signed it. So everything was going well until we heard that the seller was having issues with his paperwork with the title company because he was in a lawsuit with another guy about one of them not getting paid for a job they did together. It was unrelated to the house so they escalated it to the judge to sign off on it so we could move along with closing. So we were originally supposed to close on Thursday with the final walkthrough on Wednesday. The inspector came back out on Wednesday with my realtor and not everything was done that they agreed to fix(main thing being the plumbing that was setup different and the drain lines underneath the house). So we still hadn't gotten the seller's title issues completed yet so they want to push back closing which we weren't excited about but signed off on. Well yesterday, I sent a picture to a local plumber who has good reviews about how the drains were setup in the bathroom sink and sent what he said to the seller. The seller than decides to hire the plumber I found to fix the issue. The plumber got to the house and decided not to fix the small issue and tells me we need to talk. He calls me and asks if I closed on the house yet and goes on about how the plumbing was installed terribly all over the house and that whoever inspected the house should lose their license and how he is going to contact the city inspectors about it because he thinks the sellers are trying to pull a fast one on me. So this is where my story ends for now. Are we legally bound to the contract if we haven't closed yet and the seller didn't fix everything he agreed to on time? I don't want to get sued if we backed out now. Please someone give me some advice, I really appreciate it. [link] [comments]  |
| Posted: 27 Apr 2018 06:36 PM PDT My house I'm selling is a fixer-upper in nice neighborhood. likely won't qualify for an FHA or VA loan due to issues. Lots of investors looking for houses in my price range ($90k-ish) Also does the seller typically pay the title company $1500 bucks?!? I thought the BUYER paid the title company?? [link] [comments]  |
| Is it me or are a lot of houses are bought, but no one physically lives in them? [CA] Posted: 27 Apr 2018 12:17 PM PDT |
| Any good places to search for real estate based on broadband (not DSL) availability? [TX] Posted: 27 Apr 2018 05:34 PM PDT I'm looking to get some rural land suitable for farming in South Texas but broadband (not DSL) is a must. Can anyone recommend good places to search? [link] [comments]  |
| Posted: 27 Apr 2018 08:47 AM PDT How do you all get leads? I got my license a little less than a year ago. Just out of college. Other than cold calling and sending out letters, what is a good way to grab some leads? I do a little bit of social media advertising. I do a little bit of cold calling. I send out tons and tons of letters. [link] [comments]  |
| Posted: 27 Apr 2018 05:25 PM PDT We are selling our home and purchasing another one in Philadelphia, everything going well as far as inspections, appraisals, etc. Closings for one may 22, other may 25th. We were trying to schedule both on same day, and then some parties requested a change to earlier in month due to vacations planned over memorial day weekend, which we said no problem. Verbally we were looking at week of may 11th. Now no one can give me a date- I'm just told over and over that there are a lot of people involved and its hard to coordinate. I'm frustrated as I need to book movers, dog boarding, pack, etc. We may also be nervous because 2 years ago a sale of our house fell through and its similar as far as lack of communication and changing dates. Any advice? [link] [comments]  |
| Preapproved for VA loan..what now? Posted: 27 Apr 2018 05:09 PM PDT Was just approved for a 30yr VA loan at 4.75% for $100,000. This is my first home purchase. Where do I go from here? Start looking at homes by myself? Hire a buyers agent? What are "points" and how do they affect the rate? What are "credits" in negotiation? I plan on having the seller pay all closing cost or pay as minimal as possible out of pocket. I'm just confused as to what comes next. Any help is greatly appreciated! [link] [comments]  |
| Selling my own home, have a buyer, documentation help (CA) Posted: 27 Apr 2018 03:25 PM PDT Selling my own home (California). Buyer has a large downpayment and has already been pre-approved for a small mortgage loan. I'd like to do all the documentation on my own and go through an escrow on my own. Where do I start? I've looked online and done a few searches here but most of the articles or posts are for how to put it on the MLS etc as a FSBO. In my position, I have a ready and willing buyer. What forms will I need to get done and where can I get these forms? I just need the step by step process of how to get this done? I appreciate all of your help a guidance in this matter. Thank you! No, I don't want to go through a real estate agent or attorney. This person is a long time family friend who is older now and downsizing into a smaller home for help with their age. I do have a financial past with this person and we are not looking to pay extra fees. [link] [comments]  |
| Posted: 27 Apr 2018 08:47 AM PDT I have a lake house in northern WI. It's a couple hours from where I live. The place is great for my family and I but it honestly feels like i'm rolling the dice with it at times. I follow a strict list of things make sure it's maintained properly while i'm there and closed up correctly when we leave, but it's far enough away I can't just drive up on a whim if I think something might be wrong. I haven't had any major issues yet, but worry every summer the next time we drive up we'll show up to a disaster. I recognize there is technology that exists that may alleviate some of my worry, but before spending a bunch of money to install wi-fi and smart devices I'd like to know if those things have reduced worry for others? Also looking for any other advice/tips on taking care of a 2nd property from hours away. What works? What doesn't? [link] [comments]  |
| Misleading agent during negotiation Posted: 27 Apr 2018 08:39 AM PDT Hello, A few days ago, I negotiated to buy a house and I won the offer but now that the stress is down I feel like I was mislead by my agent during the negotiation and lead to pay more than I needed to. So I made an offer on house, a little above asking price with an escalator close to my max budget. After offer review I get a call from my agent and he says "there is 2 offers in the lead, they are throwing away the escalator close so you have to come up with your 'best offer'". At this point I felt like I was in the lead so I made an offer at a specific price without the escalator clause lower than my max and I won the offer. After the stress went away and I was thinking about it and realized that nothing was keeping me from holding onto my escalator and therefore make sure not to over pay. The agent pushed me to make an offer without an escalator clause and was clearly steering me toward a higher price during our discussion with things like "every body goes 100k above asking in this market" (this is in Seattle and the market is a little bit insane). At no point did my agent mention the fact that I had the option to hold onto my escalator. Which I would have absolutely done with maybe a bigger "step". Now the house is at a price that I can afford but I can't get over the sensation of being mislead by someone that I trusted and it really really bothers me. Ofcourse my agent says that he doesn't know the value of the offer and that he is not legally allowed to know. I think that he knows and that he is just not going to tell me because it would not make me too happy. Have you guys had similar experiences? Is there something I can do? At this point I'm liable for the earnest money because we waived any way for me to walk out of the deal (again competitive market). Thank you for taking the time to read and help. [link] [comments]  |
| Posted: 27 Apr 2018 02:14 PM PDT Brother bought a house in California for $280K 15 years ago. House is now worth $500K. He got a 15 year mortgage on it when he bought it but moved out of the house about 5 years ago to another house. He turned his original house into an investment property. He rents it out for $2300 and now the house is worth $500K. I checked on Zillow and the rent estimate was about $2700, so the rent is low but not that low for the area. I've heard on real estate podcasts that investors should shoot for 1% of a house's value to be the monthly rent. It seems like my brother should be getting $5K a month in a perfect scenario, is this even possible though? Are other places better for this ratio? What would you do? Sell and buy somewhere else? [link] [comments]  |
| HO6 is not covering SLA, please advise Posted: 27 Apr 2018 01:36 PM PDT Location: Colorado Backstory: I was sent a SLA notice for damage of my condominium property. This assessment was for a storm that occurred before I was a resident, so my HO6 is not covering it. The date of notice was within the past month, when the damage was discovered and assessed after repairs were supposed to take place. The individual split for my unit is 4 figures. My question: I'm pretty sure there's no way to escape paying this amount. That's not really what this submission's about, but please let me know if I'm incorrect (please). What I really want to know is if this was an act of negligence on the HOA's part and what can be done to make it right - Should the manager be replaced? Should the board be replaced? The HOA's insurance is covering 10% of the assessment. Is this too low? I really had no knowledge about this for HO6, so I wasn't prepared to just pay this out on a whim. I know that other residents probably weren't either. The HOA is giving the owners 6 months if they cannot pay this amount immediately. Please advise because this stinks. [link] [comments]  |
| Has anyone used Accumeth, home meth testing kit? Need help/opinion asap. Posted: 27 Apr 2018 12:29 PM PDT Hey everyone. I am under contract on a property and it is checking out for most things, but I am a little paranoid for potential meth contamination. I ordered an accumeth kit and it returned a value of roughly what appears to be 1 out of their 10 scale. 10 being clear/no meth and 0 being meth? I'm not super confident in this product though. Meth in my oponinon is a inspection and thing skipped over pretty often and a blind eye is turned to but can be super detrimental and hazardous to health. Here are the few reasons why I feel it is a meth home. -No smoke detectors, carbon monoxide detectors -Lots of trash at one point (neighbors stated) -Overall kinda dirty and a few small burn spots on carpet in one room -Slight residue on windows (could be cigarette smoke) -Ton's of cigarettes outside of the house (can't smoke in house with meth lab) Signs that are missing -Signs of anger (no holes... that I can tell) -Cat pee smell I am approaching the point where I cannot get out of the contract and this could be a point where I am stuck in the property if I don't get a clear answer at this point. Thanks again Location, Colorado [link] [comments]  |
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