Pretty interesting show about a real estate developer on youtube, i've learned quite a bit even though it's mostly meant for entertainment. Real Estate |
- Pretty interesting show about a real estate developer on youtube, i've learned quite a bit even though it's mostly meant for entertainment.
- First time getting the inspection done. How much to pay, what to ask, what to expect
- Savings not using an agent
- Police Search Warrant, Forced Entry and Arrest
- Websites/Resources for Commercial/Retail Real Estate?
- Multi-home property- one habitable, one not...
- Cancelling mortgage before closing and paying cash instead
- Looking to specialize in commercial real estate
- Nightmare House Sellers (Probably) Lost the Due Diligence Check
- Tracking your own productivity and numbers??
- First-time commercial real estate buyer looking for advice
- [TX] Tips for first time duplex buyer (live-in)?
- Not sure if I should sell my condo or rent it out
- Trying to Sell Inherited Property
- (Possibly noob) Question for Real Estate agents and multi state searching
- Have to back out of deal, what now?
- GA- Informing Tenant of Intent to Sell
- Very Late Disclosure
- Should I get my real estate license?
- Who owns more than 2 properties in texas or Pennsylvania,
- CA- Client asked me, “What is the definition of an apartment in LA?” How do I answer this?
- Broker fee in NYC (downtown)
- Questions for real estate agent
- Sewer inspection lumped in with home inspection contingency?
| Posted: 30 Oct 2018 01:10 PM PDT It's called Life For Sale: https://www.youtube.com/watch?v=dhhw4SvmKfA&t=0s&index=3&list=PLGY1W2xOsCN62XSVAqjVVhdRuIcDfwd_8 [link] [comments]  |
| First time getting the inspection done. How much to pay, what to ask, what to expect Posted: 30 Oct 2018 06:51 PM PDT The house I'm buying is 1950's built, 2016 remodeled with new hvac, roof, siding, windows, flooring, electrical, bathroom, plumbing etc. It is only 900 sq ft plus a 400 sq ft garage with remote door. Single family, 2 bed, 1 bath. No basement either so I figure that is less liability. I've heard some investors ask for an abbreviated or investor style inspection. I don't know if this is worth it or should I get the most thorough possible? I've seen one quote so far on their website that says up to 3000sq ft @ $385. Should I ask for a discount since this place is so small? I'd like to be there during inspection. I've heard some inspectors prefer to do this alone so they don't break concentration. Possibly it is preferred that I show up right after they finish to take in all the knowledge? The location is Indianapolis, IN. [link] [comments]  |
| Posted: 31 Oct 2018 02:35 AM PDT My friend wants to buy my house. He has bought multiple houses, and suggests he can save closing costs if we don't use a realtor. If I would normally be on the hook for 6% (3 for each of our agents) what would be a fair reduction to the price for him? Not the full 6%, right? At that point I'm paying him to be my agent. But he would be handling everything in terms of inspections and paperwork...maybe at that point he is my agent. If I were just to hire someone to handle the paperwork and inspections, what sort of % would they be expecting? [link] [comments]  |
| Police Search Warrant, Forced Entry and Arrest Posted: 30 Oct 2018 06:08 AM PDT So I just found out from my property manager that one of my tenants in one of my multifams had a search warrant served. The police department apparently kicked in the front door as well as the door to that specific tenants unit and arrested her boyfriend who may have been dealing drugs (and is not on the lease but apparently has been living there for a month. I left a message with the PD street crimes unit to find out more information. No call back yet. Does anyone have any advice how to proceed here. Im both pissed off and concerned for the safety of everyone else in the building. Maintenance guy says the door jambs are going to need to be replaced. Im guessing the police wont pay for that. Any advice (and criticism is welcome) Thanks :( EDIT: UPDATE:
I feel pretty bad for the kids who had to see this and may very well be going into foster care now. They are very nice and sweet kids but jeez who the hell does something like this with kids, their own kids around. [link] [comments]  |
| Websites/Resources for Commercial/Retail Real Estate? Posted: 30 Oct 2018 08:58 PM PDT Wanting to start a business (bar/hangout cafe type place) in a downtown area. Anyone know of what websites/resources to utilize to research areas to buy/lease? Did a quick search and mostly found poor/bloated websites and office spaces. Any help would be appreciated! [link] [comments]  |
| Multi-home property- one habitable, one not... Posted: 30 Oct 2018 05:44 PM PDT So my SO owns a piece of land (~12 acres) and she originally bought it with a termite damaged mobile home. She bought it for the price of the land alone. She later purchased a new mobile home and rolled the mortgage into one for the land and the new trailer. Fast forward 16yrs and we hit some legal and financial troubles. We are 3 months past due on the mortgage. She still owes $157k. She also refinanced about 18 months ago. My question are these: Can it be sold? Will we have trouble getting a mortgage company to finance ia buyer with an uninhabitable dwelling on site? Will the land and relativity new mobile home be adequate leverage for a mortgage company? Will being 3, 4, or mpre months past due complicate this? Oe make it simply impossible? Will it having been refinanced so recently be an issue? Thanks in advance for any advice or responses. If this isn't the correct subreddit please let me know... [link] [comments]  |
| Cancelling mortgage before closing and paying cash instead Posted: 30 Oct 2018 06:49 PM PDT We are in the process of buying a new construction, pre approved for a mortgage in May and set to close end of November. The lender is doing the final set up for the loan now. However we now may be in a position to pay cash for the house. Is this simple to do? We used one of the builders "preferred lenders" so we feel that the salesperson is reluctant to give us the info as maybe they get a kickback for this in some way? For doing that they threw in upgraded appliances for free so we know we will have to pay the extra for those if we pay cash which I presume will mean drawing up new contracts with a new purchase price? The house is almost complete and we are scheduled for the walk-through a week before closing. Will switching payment methods delay things at all? We've already paid the lot premium and half of any upgrades in cash, and still want the house, just not the mortgage. [link] [comments]  |
| Looking to specialize in commercial real estate Posted: 30 Oct 2018 04:15 PM PDT I am a senior finance major at a big 10 university and was just hired at a relatively large real estate company starting in May 2019 after graduation. I would like to work in commercial real estate but am a bit hesitant. Upon being hired, they said they are flexible with me working either commercial or residential, but advised me to specialize in one or the other. I don't have much knowledge about real estate other than what half a semester of one of my classes taught me about it (mortgage lending mostly), most of my knowledge is in finance related work. My question is, what are some of the drawbacks of commercial vs. residential? Is there any resources that I can use to better prepare myself for when the job starts? Any other input would be greatly appreciated. [link] [comments]  |
| Nightmare House Sellers (Probably) Lost the Due Diligence Check Posted: 30 Oct 2018 06:47 PM PDT I am in the process of buying a new house in a new state and have clearly picked a doozy. I spent a weekend house-hunting and found a house that I liked. It was my third choice, but the first two went under contract before I could offer since the market is hot. It's a bit of a saga, so buckle up ... First off, I went in with a competitive offer because I was told that there was already another offer on the house and my first and second choice had already slipped through my fingers. They countered and it was decent and I thought to myself, niiiice. They are obviously reasonable and want to get this locked up quickly. While I was figuring out my counter, they came back and essentially said, just kidding... and went back up $5,000. This was the point when I should have told them to bugger off, but I didn't because I am a relocation on a timeline and #1 and #2 were gone, I didn't have a #4 and I was going back home the next day, so I played their game. We settled on a price. I got screwed, but I chalked it up to piece of mind fee because I now had a house. Then onto the inspection. There were a few minor issues, but while they were minor, they were safety and foundation (water leakage) issues. I asked for them to be repaired. Nope. They said that they wouldn't fix anything. Okay, I thought, maybe it's because they are moving as well and are busy. I get it. I'm doing it on this end, so I asked for a credit at closing. They refused because the fixes are minor and they had already given "so much" on the price. Well, fuck. At this point, I am pretty much out of luck because I have paid the inspection fee, the appraisal fee and the due diligence fee (the next issue because why not?), which all totaled $1,600. That would have been lost if I had walked away and the repairs are maaaaaybe $500 total. That doesn't make a whole lot of sense because I would have had to start all over on a new and pay those same fees again, so fine. I am out of options here. Whatever. Fine. You win. I hope you remember an amazingly funny joke while at a funeral and look like the asshole you are. Fast forward to today. I get a call from my realtor, who explains that the sellers have claimed that the bank declined the due diligence check and can I write them a new one. WTF? Here's the thing... I wrote the due diligence check and the earnest money check within minutes of each other. Same checkbook, sequential check numbers, same pen, same signature, same everything. I handed them to my realtor who handed them to the appropriate people (the closing company/lawyer and the asshole sellers). The lawyer cashed the earnest money within two days. No issues. This check was six times that amount of the due diligence fee and sailed through as any check should. Now magically, more than THREE WEEKS, after the sellers received the check, it can't be cashed? Well, that's because I am pretty sure that they lost it. No way am I writing them another check. My response was, diplomatically, of course, that I thought it was all bullshit, they probably lost it and I would write another check after the original was either in my possession or my realtor's possession, but not until then. Well, they don't like that, which even further bolsters my belief that they lost the check. Dudes, seriously, just be honest. We are at a bit of an impasse and I am not sure what comes next. So what happens now? Do I have to write another check? Can they back out of the sale and leave me even more screwed? If we can move forward, what happens at closing since that money is supposed to be credited back to me - will I still receive that credit if they never cashed the check? Another concern is that since they have already proven to be unethical assholes, what recourse do I have if they do something to the house in the next two weeks? I will be doing the closing remotely and my realtor will do a very thorough walk-through the day before the closing, but they have already proven that they won't be reasonable or honest. My entire life is in a massive upheaval and this is only adding that much more stress because I am dealing with idiots. TL;DR - I'm pretty sure that the house sellers have lost the due diligence check and are lying to they to get a new one. I want to tell them to fuck off, but I am guessing real estate law probably wouldn't agree with that as a resolution. Edit: All I am asking is that they return the "declined" check and I will happily write them a new one, so that there are not two checks in their possession. They are not happy with this resolution. I could cancel the check, but would prefer to not incur the cancelled check fee when I already have enough expenses of my own and they are at fault. I have bent to their will with everything thus far. They are barely speaking with their own realtor, who is equally as frustrated, so it's been very slow going to make any progress on this matter. This is the fourth house that I have purchased and they have been, by far, the most difficult. [link] [comments]  |
| Tracking your own productivity and numbers?? Posted: 30 Oct 2018 07:50 PM PDT Newer agent here...I want to track how many calls I make/doors I knock/leads from opens/conversions/commissions/budget/etc... What do you use? Most agents I've spoken to use various spreadsheets, but I'm curious if anyone has their own way that's worked well. I'm trying to get better organized and streamlined for 2019. Also, if anyone would share their templates for said spreadsheets that would be helpful. Thanks in advance [link] [comments]  |
| First-time commercial real estate buyer looking for advice Posted: 30 Oct 2018 12:50 PM PDT Hey r/RealEstate! My good friend is looking to buy a shop/apartment building for his woodworking business in NJ. It's in the $200k range. Background1: First bit of advice I've given him is that I'd want him to have his own agent and not use a dual agent as the listing-agent he viewed the property with suggested (obviously so she can earn the double commission, etc.) - I'm not saying this makes someone untrustworthy or that she'd do anything shady, I just want him to have his own person in his corner. Question1: Am I being over-protective? Or should we find him his own agent? Question 1a: If getting his own agent isn't a bad idea, how do we best do that? Google "commercial real estate agent (city / state)" and call a bunch of them? Background2: His understanding is that without 30% down, he won't be able to get a commercial mortgage here in NJ, and thus SBA loans are his only option. Is he correct? Question 2: If there are any other options I want to help him know that so he can explore them. Should he start learning about non-SBA options? Thank you so much in advance! (edited to add some details that might be important for giving advice) [link] [comments]  |
| [TX] Tips for first time duplex buyer (live-in)? Posted: 30 Oct 2018 10:23 AM PDT I apologize if there are some resources already posted that I may have missed, but I figured this is a niche enough question. In the next year I would like to become a homeowner (finally) of a duplex. I will live on one side and rent out the other. To anyone that has done this before, I would would love to hear your experience with it, good or bad. Please also feel free to share any further readings or formulas that would help. [link] [comments]  |
| Not sure if I should sell my condo or rent it out Posted: 30 Oct 2018 05:39 PM PDT I live in southern California and I'm relocating to Texas for a new job. I'm starting the job in a month and I need to figure out whether to sell my condo (1 bedroom 1.5 bathroom) or rent it out. I'm planning on buying a home in Texas in about a year which means I need to sell my condo in California to use the money for down payment. After talking with multiple real estate agents, it looks like the current market in my area is very slow and a lot of the properties remain on the market for a while to sell. After hearing this, I'm not so sure about selling my place any more and I'm considering the option of renting it out until next year around May. I know that waiting until May doesn't guarantee a better market but I think there's a good chance that it would be compared to how it is now. One concern I have is that my place has been renovated with a lot of nice top-of-the-line appliances and new gadgets for home automation. I'm concerned that the tenants may not take a good care of the property. Another concern is with the lease term. I know that most lease terms are usually minimum 1 year but I'm thinking about renting it out for the next 6 months so that I can sell my condo hopefully at a better market condition. Here are my questions:
[link] [comments]  |
| Trying to Sell Inherited Property Posted: 30 Oct 2018 07:03 AM PDT In Florida Four people inherited Property from dead relative 10 years ago. Person A has been paying the taxes on the property for 5 years while no other relative responds or even attempts to help with taxes so now Person A just wants to get rid of the property entirely. Every time Person A is beginning to sell, Person B, C, and D shows up to take in profit. Person A doesnt think its fair and wants to see if there is a way to sell without giving up 75% on the profit to those who arent contributing to keeping the land. Person A is currently thinking of no longer paying taxes and letting it go up for auction and purchase it as a sole owner that way, and then selling. Is there anything Person A can do, or will they just have to take the loss. [link] [comments]  |
| (Possibly noob) Question for Real Estate agents and multi state searching Posted: 30 Oct 2018 08:19 PM PDT Background: My husband and I are completely new to home buying. We are both 30 years old (no kids, DINKs, if you will) and have been saving money for a few years. We live in Portland, OR and are willing and able to relocate up and down the west coast with our careers. (Washington, Oregon, California) Husband works from home and I have a job with a hospital system that's up and down the west coast. We have a very specific want for a cottage or carriage house style home. Preferably older with more character, that's on the smaller side but with lots of old world charm. Because of this very specific style preference, we're willing to broaden our search since we can pretty much live anywhere in the west coast states. So my questions are: Is it possible to have a real estate agent search multiple states for the exact house and price range we're looking for? Can we have one person try to meet our criteria? Is it expensive to keep a real estate agent on hand looking for some time for a specific home? Also, is there anything I'm NOT thinking of? [link] [comments]  |
| Have to back out of deal, what now? Posted: 30 Oct 2018 05:39 PM PDT We were planning on purchasing the house we are currently renting and made it to the conditional approval stage. Our neighbor has begun harassing me again (he took an 18 month break and i thought things were better) and because we no longer feel safe here, we have to back out. I know we have to immediately start house hunting but in what order do we need to inform our landlord about terminating our month to month lease, notifying their realtor about breaking the deal, etc? We weren't supposed to close on this house until january. Also-do we need to do an entirely new mortgage application? We are going to lose our earnest money too, aren't we? [link] [comments]  |
| GA- Informing Tenant of Intent to Sell Posted: 30 Oct 2018 05:09 PM PDT I have a house in SW Georgia. I have been renting it for about 7 years, and the last six to the current tenant. They signed a one year lease and have been month to month since the lease ended. I plan on selling the house next summer and would like to have them out by April. This way I'll have about a month to repair, paint, etc. I have been using a property manager. They have been good tenants, and I would like to give them early notice on my intent to sell (60 days is my legal, tenancy at will obligation). I would also like to give them the opportunity to purchase if they desire. Does anyone have any experience on this? What is the best way to contact the tenant, perhaps registered mail? [link] [comments]  |
| Posted: 30 Oct 2018 12:22 PM PDT So sorry this is so long. I am hoping to get some advice regarding a very late disclosure that we just received. We are scheduled to close this Friday, November 2nd. However, yesterday, we received another disclosure to sign off on. The document had two sections, the first, stating that we would update the toilets to low-flow per the county's requirements, which we are aware of and are fine with. The second however was a geological report for the house next door, that we learned yesterday has been red tagged due to the hill it, and the house we are in escrow in, sits on. I read the entire report and it states that due to the nature of the soil and rock, and the creek below, further degradation of the hill is expected, and the house next door will need to have the foundation stabilized and have additional retaining walls built. The report is quite old, from 2014, so it is not like it just came in and then they provided it. Further, we were told early in the process that the family that initially put an offer in backed out because "they were scared of the hillside." We feel it is possible that they were provided with the report, and subsequently backed out. We are concerned that this information was intentionally withheld to prevent us from doing the same. We have been working with a contractor, and he told us early on that he did not see the hill the house sits on as a concern as there was quite bit of ground before the cliff, which granted, is not the case next door as they are closer to the cliff. We do feel that if we have to disclose this information when we go to sell, that it may scare off buyers and/or lower the property value. What would you recommend in this situation? Should we back out or potentially renegotiate? We are trying to get a rush geo report at the moment. We have already put in notice, and are supposed to be fully moved out by the 15th of November. I don't want to just overlook this piece of information that has long term implications because I'm afraid of our lack of immediate accommodations. [link] [comments]  |
| Should I get my real estate license? Posted: 30 Oct 2018 04:04 PM PDT I'm 25(f) and fixing to get my associates. I really want to be an interior designer but getting a degree in that field will take another 4 years at the university I'm going to. I was planning on getting my real estate license after I got my degree but since it's gonna take so long should I just postpone my interior design degree until I'm financially ready? I need to start making money fast. I've always been good at sales and with my passion for interior design could make the house sale. I'm just stuck right now. [link] [comments]  |
| Who owns more than 2 properties in texas or Pennsylvania, Posted: 30 Oct 2018 03:31 PM PDT Whats your experience been and advice on the current market were in. If u had to start over what would u do differently?? [link] [comments]  |
| CA- Client asked me, “What is the definition of an apartment in LA?” How do I answer this? Posted: 30 Oct 2018 03:21 PM PDT A client asked me the above referenced question. How should I answer it? Is there a textbook definition of an apartment and how it differs from a hotel in The City of Los Angeles... context is he got cited by the city for illegal Airbnb rentals and wants to know where he went wrong. Please help! [link] [comments]  |
| Posted: 30 Oct 2018 03:05 PM PDT I'm close to signing a lease in the Financial District in Manhattan and have some questions. The reason I'm specifying the financial district is because I've been told by various brokers that a lot of the buildings will cover the broker fee for you. So in essence you're using a broker free of charge. My broker has been great for me, he found me exactly what I'm looking for however he is asking me to fill out a page to a link he sent from his company. It looks like a registration agreement and I read the terms and conditions which basically state that I am responsible for the commission and that I agree the broker works directly for me and not the landlord. I'm a bit sketched out. Anyone every had an experience with something similar? Should I have the landlord draw something up? Thanks! [link] [comments]  |
| Questions for real estate agent Posted: 30 Oct 2018 02:25 PM PDT Looking to sell my current place and build my next... when interviewing real estate agents for the sale of my place, what are some good questions? [link] [comments]  |
| Sewer inspection lumped in with home inspection contingency? Posted: 30 Oct 2018 10:02 AM PDT First time homebuyer so be easy on me. 2 part question- 1) Is a sewer inspection lumped in with home inspection contingency? If there's an issue am I able to back out while getting my escrow deposit back or does there have to be a sewer contingency? I'm considering a house but there's a maple tree within 10' of the sewer line which are known problem trees. 2) During the inspection period, do I have to inform the homeowner of every inspection I plan on doing? [link] [comments]  |
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