Any suggestions on finding a real estate mentor? Real Estate |
- Any suggestions on finding a real estate mentor?
- Marketing a rental online
- Sellers backing out after signing deal and 8 days before closing what can I do?
- What would you do if you had $80,000 given to you whose sole purpose was for investment?
- Buyers Inspection Report came back with numerous small items.. They requested ALL of it in repairs.
- [NV] Buying land from the BLM
- What expenses should I expect when selling one house and buying another
- [CALIFORNIA] Mismatch on address name for Purchase Agreement and Preliminary Title Report. Should I be concerned?
- Home inspection cost questions and options
- 1st time seller, what are my options re: contingencies
- Handling someone’s real estate investments - what would you take as a percent ?
- First Time Homebuyer in a pickle, Please help (Kentucky)
- M/27 -Setting myself up for success any tips?
- Rebate to Purchaser outside of closing
- Quit Claim Deed, TX, passing fully paid off property from Parents to son.
- Young person looking for first real estate experience
- First time buyer, working with an agent, came across a for sale by owner
- Our landlord is offering to sell the house to us.
- Parents Selling House without a realtor. How much to pay buyer's realtor? [PA, USA]
- [Austin, TX] Realtor/prop manager by the hour
- Do I need my own agent?
- Investor promote split and split of capital appreciation on sale?
- FMA MIP Refund, Question.
| Any suggestions on finding a real estate mentor? Posted: 31 Aug 2018 05:02 PM PDT I'm currently located in NH but I am considering moving to the west coast. [link] [comments]  |
| Posted: 01 Sep 2018 02:23 AM PDT (Florida) I am in the process of getting a rental on the market here in the next few days. I am not affiliated with a realtor so I cant list my rental in the MLS? That being said I was going to list it on Craigslist and try to list it on Realtor or Zillow? Anyone have any good online resources for marketing a rental? Preferable websites to list it? [link] [comments]  |
| Sellers backing out after signing deal and 8 days before closing what can I do? Posted: 31 Aug 2018 05:15 PM PDT I'm heart broken right now cause sellers just decided to cancel the house right before the closing, our closing supposed to be on September 8th and I'm really sad depressed right now, agreement were already signed by both buyers and sellers the inspection were already done even the bank said okay to buying the house. when we asked the sellers why they canceled the deal they said because they has to pay IRS 40k and Government blocked the deal and they can't sell it [link] [comments]  |
| What would you do if you had $80,000 given to you whose sole purpose was for investment? Posted: 31 Aug 2018 06:20 AM PDT FYI I am a US citizen currently living in Israel but will not put my money in Israel for personal reasons at the moment. [link] [comments]  |
| Buyers Inspection Report came back with numerous small items.. They requested ALL of it in repairs. Posted: 01 Sep 2018 12:28 AM PDT There were nearly 40 items on the buyers inspection report of 'recommended' repairs.. Such as updating to new code items like every outlet in the kitchen, regardless of location, be GFCI.. And various other things.. A few small cracks in brick mortar. The things you'd gloss over when you are buying a house, knowing full well its older constructed. My realtor says its the most extensive list of repairs in a request shes ever seen despite them all being small (or even nonsensical).. (We had a request to replace a light fixture, where a bulb had just burnt out.. Light fixture is fine.). Inspector also claimed our dryer vent doesn't go anywhere, but you can clearly trace it to outdoors with a flashlight. What is our best course of action in a response? I'm panicking slightly. Do I offer to make as many of these repairs as possible and offer a small reduction in price? Or do I read this at face value that they are probably expecting a large drop in price. EDIT: Sorry Mr. Bot., This is in Texas. [link] [comments]  |
| Posted: 31 Aug 2018 06:25 PM PDT Been looking at some open land between Las Vegas and the Arizona border. Most of the area is government owned, and as I understand it you need to "nominate" the land to be put up for sale in the future. My questions are, has anyone dealt with the BLM nomination process? How long is the range of time between nomination and sale (if they approve)? And will the land be cheaper than just buying some land from a private seller? I should note that I am actually planning to grow cactuses, so I am really looking for cheap open desert. [link] [comments]  |
| What expenses should I expect when selling one house and buying another Posted: 31 Aug 2018 10:48 PM PDT What expenses and how much cash should i plan on needing when selling my home and buying a new one? Never gone through this process before [link] [comments]  |
| Posted: 31 Aug 2018 10:06 PM PDT I'm in escrow right now and noticed a minor discrepancy on our documentation a week ago. The purchase agreement reflects an address with "North" in the title. Meanwhile the escrow documents and the Preliminary Title Report do not. Example below: Purchase Agreement: 12345 N. Main Street Escrow/Title: 12345 Main Street I called the escrow officer and she amended the escrow instructions per the below:
A number of the escrow documents we've filled out prior and signed still reflect the old address "12345 Main Street". The escrow officer does not seem too concerned on the conflict, but I can't help but worry. She also mentioned amending the title report, but she has not done so either. The listing and subsequent purchase agreement used the 12345 N. Main Street address, but I'm not sure where it originated from. Honestly not sure which is technically right. Based on anyone's experience, should this be something I push on to get resolved? Is there a lot of risk here in not resolving this? The escrow documents call out the tract and specific plot of land as well for good measure, but just concerned on the address discrepancy even though it is small. [link] [comments]  |
| Home inspection cost questions and options Posted: 31 Aug 2018 11:10 AM PDT We just had an offer accepted on a home in Indianapolis, IN. We just got the following quote for a home inspection: Inspection (2000-2999 sq.ft.) $397.00 Termite with full Inspection $60.00 Radon with full inspection $95.00 Well and Septic Inspection with Bacterial Water Sample $190.00 Pool Inspection (with full inspection) $140.00 Separate structure Inspection (under 1000' w/ full home inspection) $125.00 Total $1,007.00 I can't really think of anything I'd cut out to make it cheaper, though I think the well inspection with the water sample is likely going to return some bacteria. I've read that most wells have bacteria and the report shows that. I understand it's the type of bacteria that matters. I am curious if I should have gone with the pool inspection option vs. seeking out a pool maintenance company to inspect it. Has anyone had experience with that and have an opinion? Thanks [link] [comments]  |
| 1st time seller, what are my options re: contingencies Posted: 31 Aug 2018 07:18 PM PDT WA state. Divorce 5 years ago cost most of my retirement (to my spouse) to buy 'em out of the house. I plan to sell in 2019 (Spring), and am finishing up some interior repair/renovation work. The house is 20yrs old, but pretty much everything inside/out is brand new due to a bad storm damage a few years ago. My neighbors know I want to sell, it's def. a seller's market here. In fact, they approached me today as their friend is very interested in buying the house w/o even seeing the inside (neighbors know what I'm doing, we all talk 'over the fence'). Problem - I plan to relocate in 18-24 mo, so I will be renting after I sell. I still need to stay local for kids/work. Selling the house now would give me a nice chunk to rebuild my retirement, be debt free, and have plenty of cash for relocation. HOWEVER, if I sell, how do I afford to move, pay 1st/last/deposit? I've never done this before. The last few years have been really difficult financially (one of the reasons I'm selling) and I just don't have a few grand lying around. Some medical issues coupled w/a job layoff, and the insurance financial nightmare after the storm placed me in a bad spot financially, and my credit score took a massive hit. For the last 18 mo, rebuilding credit pretty well w/no issues paying bills on time, etc. but no cash that would cover rental security/deposits and pay for a move. Also, after the storm, the payout from my insurance for appliances destroyed as a result of the storm left me with not even enough to buy a dishwasher... (appliance value @ 15yrs minus depreciation = you get squat) I have no appliances. (Microwave/hot plate/toaster oven/crock pot genius) In the NW, the expectation is appliances in the house, and in the price range of my home/neighborhood, they should be nice/matching appliances. Appliances = 4-5k (incl. delivery/installation) Rent (1st/last + deposit = 4k) Is it possible to sell with a contingency to pay the buyer "rent" so I can stay in the home up to a month after closing, and have the $$ from the home sale to pay for movers & rent costs for the new place? (If this is so, I could be out of the house in less than a month) Is it possible to also include a contingency that I would have "fridge/stove/dw" appliances @ a value of xxx dollars in the house upon departure - or provide the new owners a check for x dollars for appliances? I don't want to waste a realtor's time and get my hopes up, only to discover "Yeah, you can sell that house and make a lot of money - but you don't have the extra 5-6k to move and set up a rental...." Thanks for your time/energy reading. [link] [comments]  |
| Handling someone’s real estate investments - what would you take as a percent ? Posted: 31 Aug 2018 01:55 PM PDT There is a possibility in the near future of handling a relative's real estate investments . They current have a property (SFH) that has appreciated significantly but rents are low versus the current market price . They are considering investing in higher yield real estate. They want to be mostly passive . I have experience investing and knowledge as well. The idea would be to invest actively through value add buy /holds , flips and possibly joint venture deals and syndications . Would likely be traveling out of state as that is where more of the opportunities are these days at least in terms of cash flow . Has anyone done something similar to this? How would you structure it ? What part of cash flow or equity would you propose ? Again this would be an active thing. [link] [comments]  |
| First Time Homebuyer in a pickle, Please help (Kentucky) Posted: 31 Aug 2018 11:33 AM PDT <!-- SC_OFF --><div class="md"><p>This is for a friend who is not on reddit:<br/> I signed a standard P&S on my first home with my husband subject to FHA financing. The home price was slightly outside our comfort zone but we thought we could make it work, but when we got our financing disclosure the payment was higher than expected and higher than the payment estimated during preapproval and so I cancelled based on financing contingency. My realtor said the seller is going to sue me for cancelling and that I could have gotten a better rate and better financing if I tried. (I did try with two different mortgage brokers and this was the best I got offered). The payment is more than half my take home income. I asked the lender for a failed financing letter but he said he cannot give me one since I did qualify. I am terrified I am going to be sued but I know in my heart that the house with the financing offered is too much for our budget. The seller is FSBO and he was buying another home contingent on this one selling and he is claiming I am causing him all kinds of extra expenses. I don't care if I lose my $500 earnest money but I cannot stand the stress of being sued, I mean, we just saved up enough for a small downpayment. My realtor gave me the sellers number and suggested I work it out on my own or get a lawyer. What should I do? </p> </div><!-- SC_ON --> [link] [comments]  |
| M/27 -Setting myself up for success any tips? Posted: 31 Aug 2018 08:32 PM PDT Like the title says, I'm a new real estate associate and i'm looking to succeed in this industry any good advice and tips are well appreciated. Any good CRM that you would recommend? Motivation Videos? Social Platforms? Real estate agent essentials? Ect..... What would you do if you could go back in time that would have saved you time and money! Thank you in advance will read each reply! [link] [comments]  |
| Rebate to Purchaser outside of closing Posted: 31 Aug 2018 11:15 AM PDT I know that it is possible to offer a rebate of my commission to the purchaser at closing as long as it is disclosed on the HUD in the form of (Price reduction, builder upgrades, closing costs, down payment if Lender allows, etc), but how would it work outside of closing? Let's say the purchaser just wants a check after closing. Would it have to be worded on the HUD as credit paid outside of closing? Would the Broker pay the agent their full commission, and then the Agent would just simply write a check to the Purchaser? Or does the Broker have to issue the Rebate check to the Purchaser? Any advice would be helpful. State is GA, by the way. [link] [comments]  |
| Quit Claim Deed, TX, passing fully paid off property from Parents to son. Posted: 31 Aug 2018 10:05 AM PDT My parents are gifting me their home, it is fully paid off and is not being used as collateral for anything, is a Quit Claim Deed the right document? Basically, I wish to avoid as many taxes as possible and end up with the title under my name. Thanks for all your help! [link] [comments]  |
| Young person looking for first real estate experience Posted: 31 Aug 2018 09:51 AM PDT I am 20 years old and a junior in college in St Louis (graduating May 2020). I have about $5000 in my bank account and about $4300 more invested in stocks. I just started a new job and I make about $2000 a month, with rent of about $550 plus gas, food, fun money etc. So I can probably save about $1000 a month. I'm really interested in rental properties. I'm from Springfield, IL which is a decent size town only an hour and a half away from me, and housing is affordable there, so I'd probably want to begin there. How did you guys start with rental properties? Is there any opportunity for a young person in my situation to get some kind of rental property or should I wait til I'm out of college and have more money saved up? [link] [comments]  |
| First time buyer, working with an agent, came across a for sale by owner Posted: 31 Aug 2018 03:01 PM PDT First time home buyer here looking for some help. I've had this real estate agent driving all over town with me for the past few months and finally today I came across an actual possibly choice for my home. It's a for sale by owner and from what my friends and family are telling me I should go after the house on my own. Their reasoning is that having my agent involved is going to muddy the waters and may make the sellers not want to work with me. However I'd feel terrible cutting her out at this point as I am a salesman too and for her to work with me for as long as she has now and then cut her out seems kind of shitty. Any advice is appreciated. [link] [comments]  |
| Our landlord is offering to sell the house to us. Posted: 31 Aug 2018 10:15 AM PDT Hi everyone! My SO and I were given the opportunity to buy the house we have been renting for the past 4 years (North Texas Area). It's a two story A-Frame that is 1,008 Sq. Ft. with one proper bedroom, one small bath, a kitchenette, living area, large laundry room and large den upstairs that runs along the length of the house. The area we are living in now is in close proximity to both of our families, a two-minute walk to the lake with a boat dock and a 15-minute drive to town. The town has also been growing rapidly and the average home price in the are is $250,000. We love this house but are uncertain how it will favor on the market in the future since it is so small. We mostly have families who live in the area and a one bedroom wouldn't cut it. It also has a spiral staircase so I don't think a retired couple can navigate it with ease if they buy it as a vacation home. This is our landlady's only rental home and she said she has had awful luck with tenants and we are the first renters that have not trashed the place and pay rent on time. So basically we leave and she sells, we go month to month and continue to rent from her, or we buy the place from her. Rent in the area is bananas, even trailer homes in crappy neighborhoods go for $1,200/month, which is why we are thinking buying would be the best option. Both the landlady and the property manager have told us she would give us a great deal as we have paid over $30,000 in rent the last 4 years. The house and lot were appraised at $58,000 last year which is VERY much affordable and would give us enough financial room to do renovations (we make AVG $60,000/year combined). We are just at a lost on were to go from here. There are structural issues regarding the outside stairs and balcony that was estimated at $8,000 to repair, but other than that the house is in pretty sound condition. The property manager says she is willing to help with filing paperwork which she says would save us on closing cost, but I have no idea how that works or if we can trust her to have our interest at heart. My main questions are: -Do we need to hire our own inspector if we are approved for USDA loan? -Will anyone finance a house that is $50,000 or less? -Should we use a separate realtor? Or can we trust her property manager to not do us dirty? -How realistic would it be to expand on the home? I appreciate any help or advice I can get! :) [link] [comments]  |
| Parents Selling House without a realtor. How much to pay buyer's realtor? [PA, USA] Posted: 31 Aug 2018 07:17 AM PDT My parents were thinking of selling their house Spring 2019. They mentioned this to their neighbors and one neighbor's friend (Josh) came to see the house, with his long-time realtor, and Josh put in an offer. My parents are wondering how much to pay Josh's realtor (if anything). My parents had not yet signed with any realtors. Is it likely that Josh has an agreement with his realtor to pay him 2.5%-3%, so if my parents refuse, Josh will have to pay it? Thanks. [link] [comments]  |
| [Austin, TX] Realtor/prop manager by the hour Posted: 31 Aug 2018 12:54 PM PDT I'm looking for leads (and reviews) on agents who can be paid by the hour to show rental properties and do walk-throughs twice or so a year. Seems to me that it is standard to pay one month in leasing fee and 8-10% per month. I am NOT arguing that it is too much to ask, I'd rather just do the coordinating marketing/screening/repairs myself and just have someone represent us on the ground at a lower cost because of poor cash flow. Also, I'm looking at shorter than 12 month leases and this seems to be a struggle for PMs. I am not new to this - I manage rentals in another state with the help of a trusted real estate agent where I pay him $80 per hour (usually about 3 hours for open house, an hour each walk through for move in and move out, plus additional if necessary), but I am newer to the Austin scene. I am just looking for someone who is more resourceful and flexible, not arguing the pros and cons of PMs. [link] [comments]  |
| Posted: 31 Aug 2018 12:01 PM PDT I'm interested in putting an offer in on a vacation home that's a half day drive away. I've already walked the property with the seller's agent. The house is small and needs updates, but the property is great, including lake frontage. It has been on the market for 2.5mo with a couple of drops totaling around 5%. It seems due for another drop so I'd like to offer a little under asking. What is my next step? Should I get my own agent to work with or try to go through the seller's agent? What if I have an agent I like in my own area who does happen to have some waterfront experience? Would having an agent close to the property be better? Edit: the property is located in Michigan. [link] [comments]  |
| Investor promote split and split of capital appreciation on sale? Posted: 31 Aug 2018 11:08 AM PDT So let's say that that LP puts in 95% of the equity, GP puts in 5%, they each get 8% pref on their equity, after that a 70/30 split investor/sponsor of the next 12% in returns, then 60/40 in favor of the sponsor thereafter. What would you think is a fair split of the capital appreciation of the asset? Someone was proposing to me a 50/50 split of that. Does that seem reasonable? In the prior transaction given to me, pre-sale split of equity returns were roughly 75/25, and they want a 50/50 split on sale, maybe moving it to like 72/28, but they also said on future deals they would ideally like 50% of all the returns, which seems outrageous. I would think max that an LP would go for is an overall 70/30 split. Thoughts, experience? [link] [comments]  |
| Posted: 31 Aug 2018 10:57 AM PDT I read a bit about MIP when I took out my FHA Loan, that essentially, if you refinance out of the FHA Mortgage you get refunded a portion of this upfront insurance, depending on how old the loan is. What wasn't quite clear to me is if this is only if you refi into a new FHA loan, essentially they roll over your MIP toward your new MIP, or if this also works with a conventional refi. Im putting together the numbers of whether a refi would make sense, I'm 18 months into a 15 year FHA Loan and want to refi into a conventional 15 year to drop my 100$/month PMI. Getting back some of that $5,000 MIP would make this a no brainer, but I'm unsure if that is how it works. [link] [comments]  |
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