Looking for Some Advice Real Estate |
- Looking for Some Advice
- When individuals look for additional property "investments" are they doing anything special or just doing what most do when house hunting?
- Me and friends are looking to move to America.
- Found our dream house but owner just wants a short sale... bad idea?
- Potential purchase: Extending a house over the current well?
- Beyond frustrated with our agent and the selling agent. What are our rights as buyers?
- Seller is also agent but the agent said they are related to the seller...
- How to finance an income property.
- Buying lot and building custom single family home for the first time!
- Power of Attorney Signature Questions
- New Agent
- Selling my house. Learned a valuable lesson today. Don't accept an offer over asking without removal of appraisal contingency
- 17.22 acres in Alaska, undeveloped. Is this really a good investment?
- [USA, UT] Want to sell rental property... SO MANY EXPENSES.
- Getting out of a Mortgage in IL
- TEXAS - SELLER'S TEMPORARY RESIDENTIAL LEASE
- Buyers Having Issues
- Considering becoming a home inspector, feedback desired.
- Buying a house I have been renting. What to look out for?
- 20 y/o with $150k - Should I buy a house?
- [TX] What should I know before buying property near undeveloped commercial zoning?
- Full time student interested in Real Estate...
- 0% Down Loans?
- From leasing consultant to real estate agent
| Posted: 29 Jun 2018 07:28 PM PDT (Raliegh, North Carolina) Here's my situation, would love some thoughts: My brother and I now own my parents house since they passed away. The mortgage is paid off, and we are getting ready to sell the house. I would say after taxes and fees I will have around $150k. As a result of a good opportunity at work and living like a college student for the last three years, I have also managed to save around another $50k. I have no credit card debt, student loans and vehicle are paid off. My credit is very good. I'm relatively young and am interested in using these assets to generate more income, but I don't know anything about rental property or commercial real estate investing. I feel like I have a really good opportunity and want to make good decisions. Would like to get some ideas. [link] [comments]  |
| Posted: 29 Jun 2018 04:37 PM PDT I am thinking about buying an inexpensive ($120k) investment property in South Florida near my house to get my feet wet since there are so many mixed opinions. I'm curious, do individuals buying 1, 2 or 3 properties (over a longer period of time, not flipping houses) do anything special to find a "deal"? I don't really understand considering when someone puts a house up for sale they get it appraised and it goes up for roughly that price... and I assume everyone buying a rental investment property isn't buying a "fixer upper" [link] [comments]  |
| Me and friends are looking to move to America. Posted: 29 Jun 2018 03:48 PM PDT So my friends and I have decided to move to America from the UK, we have the majority of the things sorted out in order to actually live their legally and we have finally found a really nice house for $389000 and we make around £150000 a year altogether so I know we'll definitely be able to get a mortgage on the house. But my main question is what are the utility bills like in America? Are they exactly the same in America as they are in the UK? The house is in San Antonio, Texas and is 2800 square feet. I would just like a rough estimate of what the bills would be like. Thank you. [link] [comments]  |
| Found our dream house but owner just wants a short sale... bad idea? Posted: 29 Jun 2018 08:14 AM PDT (This is Wisconsin) We have been trying to find a house that meets a LOT of criteria- rural property, decent outbuilding for me to work out of, studio space for my wife, area that can be converted into mother-in-law suite, lots of space for kids and dog. Well, we found a great place, it has all of this and more. But the owner is in a nursing home and his brother is handling the sale. They have it at $475000 and he said the mortgage is right around this number so he doesn't have much room to budge. The problem is, the house looks like a foreclosure when we walked through it. What I mean by that is, it's been neglected for a few months... there is a water leak in the basement and standing water so now the drywall down there is all moldy and getting worse. The place was filthy, there are a bunch of minor but valid concerns that need to be addressed. The house itself is very solid, but just not what you'd consider sale ready at that price. So anyway we put in an offer of $375000 hoping they would counter and we could figure out where he needed to be at. Instead, he said he didn't know what to counter with and he feels it should just be a short sale and to get the bank involved. That could be a good thing because we could snag an amazing house for a good price and have money to correct a few issues. But I've read that it could take months and fall apart when all is said and done. The other problem is - I HATE that the brother isn't taking care of the property, and there's just water and mold in the basement. I called the guy's realtor and said "is there anyway the guy could just go over there and turn off the well pump in case the water is still dripping, or maybe get a dehumidifier going to keep the issue from getting worse?" And it doesn't seem like there's any sense of urgency about that. It's not my house but I have an offer on it, and I just want someone to look after a few things and it's frustrating sometimes in real estate how you can't just communicate directly with the seller over some issues. Any thoughts on the short sale? On the water leak problem? [link] [comments]  |
| Potential purchase: Extending a house over the current well? Posted: 29 Jun 2018 08:13 PM PDT Upstate New York: I'm looking at a home which is a bit small, but has good potential. One thing I'd like to do is build an extension on the rear of the house... however, this just so happens to be where the current drilled well is, about 10ft from the foundation, under a deck. What would be involved in extending the house over where this well now is? Filling in the current well and drilling a new one? I'd love to be able to to gauge the level of effort before making an offer. [link] [comments]  |
| Beyond frustrated with our agent and the selling agent. What are our rights as buyers? Posted: 29 Jun 2018 12:18 PM PDT Hey all. My journey to purchasing my first house has pretty much been a nightmare at every step of the way, and it only seems to get worse. At every step of the process, my real estate agent has had an EXTREMELY difficult time of getting a hold of the selling agent. It takes days and sometimes weeks to get any response from him, and when he does respond, he claims to have no information from the sellers (and appears to have no real concrete plan or sense of urgency to contact them?). We have been waiting for over a month to get our confirmation to close. We are waiting on the contingencies being met for repairs, as well as septic/well testing. We have done everything on our part to close, and we will have no place to live starting August 1st. Our hands are tied because our agent says she will "keep on top of him" (the selling agent), but she hasn't done so! We obviously can't contact the selling agent, and our agent is essentially useless despite us expressing our frustration of the situation. This just seems completely unethical to not give us any answers regarding the status of the repairs and the intended closing date. What are our rights? Who should we contact above these agents to get some answers? I really don't want to extend our contact and I certainly don't want to be homeless in a few weeks. Any suggestions or advice are welcome - we feel that we have no one to reach out to regarding the issue. We are located in Upstate, NY. [link] [comments]  |
| Seller is also agent but the agent said they are related to the seller... Posted: 29 Jun 2018 09:25 PM PDT Two weeks ago we put our first offer on a home. When we toured the home our agent said the listing agent was related to the sellers. When we made the first offer the listing agent signed his name on the counter offer. The seller is the listing agent but hasn't told us he is. The seller is being a huge pain in the ass with counter offers using time clauses as traps to take our earnest money. We've agreed to pay asking price but he keeps countering our offers with more earnest money put down and he wants to keep it if any extensions are made to the closing date. The guy is a real kook. What are the potential consequences for non-discloser of the seller/ listing agent? What can I write into the next counter to scare him into not fucking around any more and selling me this house? [link] [comments]  |
| How to finance an income property. Posted: 29 Jun 2018 05:19 PM PDT Hey all, Wife and I are looking into purchasing a second property for renting out. We don't have enough liquid cash to put the required 20% down but we have enough equity in our current home to flat out purchase an income property in the price range we are looking for. Question is, do we pull out a second mortgage to pay for just the 20% down? Or simply pull out all that we would need? I suspect the interest rates are better on the second mortgage than an income property loan. But not sure if there are other advantages to having it not tied directly to our primary property. Located in MA [link] [comments]  |
| Buying lot and building custom single family home for the first time! Posted: 29 Jun 2018 06:00 PM PDT First of all, thank you for any tip/info! I am hoping to buy a lot in Fairfax county/Woodbridge VA and build a custom single family home. What are some of the things I need to be aware of and that can help avoid a fuckup down the process? If you have done a similar project, what resources really helped you? Thanks much! [link] [comments]  |
| Power of Attorney Signature Questions Posted: 29 Jun 2018 05:56 PM PDT I am in Ohio My father bought a house in my city but is currently out of state. He has granted me power of attorney and I will be signing the closing day paperwork on his behalf this Monday. My questions are:
Thanks! [link] [comments]  |
| Posted: 29 Jun 2018 12:30 PM PDT Who has some strong opinions they'd care to share regarding your face on your business cards? Also, any best practices or even apps / software to help stay on top of your schedule or tax benefits? Lehigh Valley, PA [link] [comments]  |
| Posted: 29 Jun 2018 07:16 PM PDT Put our house on the market last week saying we'd review offers on a certain date. Two days later had someone asking what it would take to take it off the market and cancel our open house. We said an over asking offer would do it. Buyer submitted an offer $5k over. Our listing price was already aggressive. VA loan. We accepted and sale went pending. Appraisal came back $15k less than the offer. Honestly a surprise to me considering how hot the market is here. Our house is on the smaller side square footage wise. Another property I bought this year and one I'm under contract on now both appraisals came back at the offer price. I really wasn't expecting this. Seller of course now wants the place at the appraised value. I'm in no rush but feel like I learned a valuable lesson. I was already uneasy about not having an open house and not taking multiple offers. Pissed at myself. I feel like this might just be a strategy to tie up real estate: offer over asking and bet on the appraisal coming in low. I'll know better next time. [link] [comments]  |
| 17.22 acres in Alaska, undeveloped. Is this really a good investment? Posted: 29 Jun 2018 02:06 PM PDT It is undeveloped land and off-grid (uses a generator), and it is covered in woods and has some marsh land. It is connected to a road, and has a cabin on it. It is only 3 miles from the nearest town, Anchor Point, and is well within the commute to my job in Homer. It is currently valued at $30,000, but again it is undeveloped and the town is growing, which means this might be a valuable suburb some day. Should I buy it? Will it return on investment? Is it worth my time? Am I buying a lemon? Please help. Update: I forgot to say it sells for $55,000 [link] [comments]  |
| [USA, UT] Want to sell rental property... SO MANY EXPENSES. Posted: 29 Jun 2018 06:33 PM PDT My properties have appreciated so much that the return / value isn't so good anymore. I'm considering selling, but I can't believe how many expenses there are. Real estate agent fee, capital gains tax, depreciation recapture..... expenses are 25%! What do you say about this? I've heard "never sell", "do a 1031", "refi to extract equity", "raise rent"..... [link] [comments]  |
| Getting out of a Mortgage in IL Posted: 29 Jun 2018 09:56 PM PDT My dad has had his home for 10+ years and still owes on his mortgage for another 20+ but unfortunately in the last few years has let the upkeep of his home decline to the point where I don't believe it is suitable to be lived in. Is there any way to get out of his mortgage? We live in Cook Co. IL if that is of any help! [link] [comments]  |
| TEXAS - SELLER'S TEMPORARY RESIDENTIAL LEASE Posted: 29 Jun 2018 08:58 PM PDT We just signed a RESIDENTIAL CONTRACT in Texas to sell our home. We are out of the option period today. Within our contract we also signed a SELLER'S TEMPORARY RESIDENTIAL LEASE. The form (TREC NO. 15-5) states that it can not be used for more than 90 days but we didn't catch that detail. actually we are going to lease the house back for 10 months so that is what we put in the form which we all signed. My question: is the 90 day thing legally just a suggested use of the form which means our agreement is still binding or does the fact we used the form for more than a 90 day lease back result in the entire RESIDENTIAL CONTRACT being technically void? We offered to amend it with a standard lease and the buyer is telling us no. I am just not sure if our contract is binding or worthless at this point if we leave it as-is. [link] [comments]  |
| Posted: 29 Jun 2018 08:52 PM PDT We sold our house and the buyers are coming back saying there's things we didn't disclose that we actually had no idea/problem about. They said the A/C wasn't working the first day they got there and they said there is nails in the wall that our furniture was hiding and that we knew about all this? My REA said they might take us to court. I don't know if we should just hangout and wait to hear back or what we should do? What can even happen? [link] [comments]  |
| Considering becoming a home inspector, feedback desired. Posted: 29 Jun 2018 12:31 PM PDT I'm considering getting certified as a home inspector in my state (IL) by taking one of the online pre-certification tests and then the exam. This is something I'm wanting to do as a side gig to my regular 9-5. I'm VERY familiar with buildings, construction and especially the mechanical side of things. I've got 12 years experience in commercial/industrial HVAC, electrical, plumbing and general infrastructure, education in construction management and HVAC with all the certifications to back it up. A lot of the work I perceive a home inspector does, I have direct experience in already. Normally I'd stray away from these for profit schools offering "get certified quick!" Schemes except for the latter fact. Aside from brushing up on local residential code and getting some field experience under another inspector, I think I could hit the ground running with this. Does my thinking sound out of line here? [link] [comments]  |
| Buying a house I have been renting. What to look out for? Posted: 29 Jun 2018 03:50 PM PDT I live in Columbus Ohio. To cut to the chase, in march of this year I found out through the rental management company I was using that the house I am in was going into foreclosure. Well they were slightly wrong, it turned out the auction happened months earlier and it was about to finalize. A week later the new owner showed up to introduce himself and to tell us to stop paying rent to the previous company/landlord. I verified he was who he said, the title transferred and matches the county court records I found, that all was fine. He has a company that buys homes and fixes/flips them. I liked this house and was already thinking of finding the previous owner to make an offer, so I figured this kind of makes sense to go for. Unfortunately I have never owned a home before, and do not have 20% for a down payment, so in my search for loan quotes I was told an FHA was the way to do it, and they do not like houses changing hands so quick. My loan officer I went with advised us both to wait 90 days, so I have been paying rent to the new owner in that time. Now you know the backstory. 90 days are up, its time to start making a deal. I haggled price with him, he quoted prices for recently sold almost identical homes in my neighborhood, I was able to get the price down almost 10K due to knowing the house and quoting issues I know of. He does not want to use realtors, and originally I agreed (but never put it in writing). He wants to draft a contract now. He just spoke with me, he is working with a realtor he uses often to get a contract but they are not part of this deal. Am I stupid for going about it the way I am? I like the house, I have been watching the area and market and think I am getting it for a price under what I find when I search recent sales online in this area. The work I know needs done I can do myself. No mold, no water leaks, furnace works fine, AC is just undersized for the sq ft, etc. Aside from one leaky outside spigot, that is under the deck has no valve inside for it. (I will just turn off the main water shutoff, cut the line and bypass it). Everything else is just cosmetic. What exactly should I look out for here? Should I backtrack and say I want a realtor involved? He's sending me a contract this weekend to go over. I am starting to think I bit off more than I can chew and worried I may be making a mistake. Thanks. [link] [comments]  |
| 20 y/o with $150k - Should I buy a house? Posted: 29 Jun 2018 11:49 AM PDT Hey all So I'm 20 years old and run a social media marketing agency. Over the past two years, I've been going to a community college (getting my degree in marketing) while running this company. I'm planning on transferring to a four year college in Spring of 2019 and rather than renting an apartment, I was thinking about potentially buying a house. I currently have $150,000 in the bank and the cost of tuition will be about $30,000 total to finish my bachelors in marketing. The main issue is that I'm planning on stopping the social media business, thus stopping any form of income. Should I plan on renting an apartment for the 2 years that I'll be going to school or should I buy a house for the 2 years? [link] [comments]  |
| [TX] What should I know before buying property near undeveloped commercial zoning? Posted: 29 Jun 2018 07:55 AM PDT Like the title says, I'm considering a property that directly borders commercially zoned land that hasn't been developed yet. I've contacted the city and they have no current plans or contracts with commercial investors yet, so it's near impossible to predict when the land might end up being developed. One of my primary concerns is home value diminishing if the lot gets developed. Another concern is general safety. Depending on what type of business goes in, am I putting my home at risk for potentially unsafe or criminal behavior nearby? Some of the other commercial land nearby is mostly small offices or small restaurants, so I don't imagine I'm at too much of a risk for anything like a hotel or heavy commercial activity. What are your thoughts? Do you have any experience or tips to share? Anything I should consider or bring to the table when it's time to negotiate? Many thanks! Edit: I should add: It's a nice house in the suburbs with desirable schools nearby. The reason why the commercial land is a factor is because the house is located at the front of the subdivision. With it being near the front entrance of the subdivision, does anyone have any thoughts or considerations regarding that as well? [link] [comments]  |
| Full time student interested in Real Estate... Posted: 29 Jun 2018 09:57 AM PDT Hello all, I recently got out of the military and decided to get my realtors license before I start school in the Fall semester. I'm based outside of Raleigh, Nc and here's my situation: Once I get my license and start school I will be dedicating most of my time to class, however I would like to be working (Part Time) in a real estate related job. My main goal is to gain experience and then obviously to have some decent income. Commercial real estate is what I would like to pursue. What are some part time jobs within real estate that would provide me with experience to get ahead? I've also considered working at an apartment complex (although I dont in what capacity) because I'd like to own my own in the future. Thanks for the read and I apologize ahead of time if I'm all over the place. [link] [comments]  |
| Posted: 29 Jun 2018 06:39 PM PDT I'm looking to buy a house but don't have enough money for a FHA 3.5% loan. I've heard there are some companies that will help cover the down payment for you. The home I'm looking at is roughly $210,000 in Phoenix, AZ. I'm considering doing it but want to make sure it's not a terrible idea. [link] [comments]  |
| From leasing consultant to real estate agent Posted: 29 Jun 2018 06:06 PM PDT Hey everyone! I just steeped into the leasing world for apartments a month ago and I love it. I'm a super social person and my closing ratio is already 1 out 4 tours. The goal is 1 our of 3 tours. This is my third sales job so I do have sales experience. I know I only been in a month but I'm already realizing just how much I freaking love sales. Also I have found out that when you become a Property manager, that's pretty much the end of the sales game. Of course I want to always be selling so would it be smart to work in this industry say for a year or two and the transition to real estate? I just figure the sales game won't stop in that industry no matter how many property's you have under you. Greensboro, NC [link] [comments]  |
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