Considering purchasing property with a guest house. Any reasons not to live in the guest house and rent out the main house? Real Estate |
- Considering purchasing property with a guest house. Any reasons not to live in the guest house and rent out the main house?
- Has anyone used Rocket mortgage
- How to estimate buyers closing costs.
- Southern California homeowners rush to sell: Listings up 42% to 4-year high
- ELI5 - How does Zillow get their data?
- Looking to purchase a house in 1 year...First time.
- Ever had Zillow buy your house?
- Minimum down payment on a multi family for first time home buyer?
- Good way to find a house when location doesn't matter?
- After a career in outside sales, would now be a good time to start a career in real estate?
- Purchasing a home from family?
- Fire Escape in a 3 story townhouse / condo
- Pros and Cons of starting an LLC for real estate investment? (CO, USA)
- Ways to entice a buyer [GA]
- How to get a loan for vacant land...
- Right to own a gun
- How can I avoid being flagged for owner occupancy fraud in this situation?
- Older parents thinking of buying a home
- What do you all do to get listings aside from referrals?
- [GA] Structuring a real estate deal (rentals)
- Should I sell now or pay off more of my mortgage?
| Posted: 25 Nov 2018 12:56 PM PST Hello all, thanks for reading. My wife and I are searching for our first home. There's a very nice house that's located within our search zone with the right amount of land we were hoping for and very affordable. However, on the same land is a one bedroom, one bathroom guest house with a full kitchen and a wood stove. Its fully finished and really just a very small house. I think it would be smart to consider renting out the main house and live in the guest house, as my wife and I are around 3 years out from having kids and really dont need the full space the main house offers. My wife has some misgivings. Namely that she doesn't want to be on the same land as a potential tenant - we would be "on call" all hours of the day. Because of this, it seems a little silly to buy a house with an entire other house on it if we aren't going to use it. Has anyone ran into this situation before? What are your thoughts on living on the same property as a rental? [link] [comments]  |
| Has anyone used Rocket mortgage Posted: 26 Nov 2018 03:52 AM PST I'm curious how your experience was buying or selling! [link] [comments]  |
| How to estimate buyers closing costs. Posted: 26 Nov 2018 03:43 AM PST My buyer wants me to pay his closing costs. I get that this is totally common. Pretty sure I did the same thing when I bought my first house years ago. Aside from the 2%-5% rule of thumb, is there a way to nail down how much his closing will actually cost me? Do I just ask his agent? Am I somehow missing the obvious answer? Thanks! [link] [comments]  |
| Southern California homeowners rush to sell: Listings up 42% to 4-year high Posted: 25 Nov 2018 01:00 PM PST |
| ELI5 - How does Zillow get their data? Posted: 25 Nov 2018 09:11 AM PST I've noticed that some MLSs don't allow you to publicly display the data that you buy from them. How does Zillow get and display all this data when it seems to be on such lockdown? EDIT: corrected typo [link] [comments]  |
| Looking to purchase a house in 1 year...First time. Posted: 25 Nov 2018 08:14 PM PST Good evening Reddit, My boyfriend and I are looking to purchase a home within the next year in a country-esque part if Connecticut. He has a stable income on the lower side while I have higher income, but it isn't as reliable (graphic design work). He makes about 34k a year and when I'm employed it's between 45k-58k. Background: I was employed in NH (relocated for the job) and we had begun the house buying process when my company left go half of the staff (100+ full time employees). We lost the house (which in a way is a blessing) and relocated back to CT for his old stable job (8 years and like family). He has no debt beyond rent and the usual bills (insurance, cell phone etc). I have $40k in debt due to college. We want to get a home but I am wondering if we should base it on his stable salary so that we are safer, but I'm worried we'll be denied a loan. I'm willing to do cosmetic work on the home if it saves us a bit of money (think an aesthetic from the 70s) Note: We do have 25k for a down payment in savings plus a bit more for emergencies. Thoughts?? [link] [comments]  |
| Ever had Zillow buy your house? Posted: 25 Nov 2018 09:01 AM PST Im curious about your experience as I have a friend who is going through it and is at the final offer stage. Obviously their custom contract is weighted heavily in their favor, but I'm wondering if he'll get any surprises at the 11th hour... [link] [comments]  |
| Minimum down payment on a multi family for first time home buyer? Posted: 25 Nov 2018 09:01 PM PST Do banks require a minimum down payment for a multi family house or would I still qualify for a first time home buyers loan? I would be residing in one of the units. [link] [comments]  |
| Good way to find a house when location doesn't matter? Posted: 25 Nov 2018 09:01 PM PST Hi all, I'm hoping you might be able to advise me on how to go about this search. I've been trying to find a way to search for a house that isn't restricted to a specific city or state but can look through all listings in the U.S.(including Alaska) for certain key features. Is there a site or a type of real estate agent that can overlook specific location if I say I'm looking for a house between 1500-4500 sq ft. under $800,000 with mountain views at an altitude of at least 6,500 feet on a minimum half acre lot? And/or just the lot for half the price? I haven't had much luck in this type of open-ended yet specific search. Any help would be much appreciated. [link] [comments]  |
| After a career in outside sales, would now be a good time to start a career in real estate? Posted: 25 Nov 2018 11:10 AM PST |
| Purchasing a home from family? Posted: 25 Nov 2018 04:39 PM PST This is in CA. I have been renting my in laws house now for about ten years. The family is pushing then to retire. The house we are currently renting is in need of a new roof and paint. I feel if the are planning to retire and reduce or fix their income it is going to be hard for them to aquire a loan to do the needed home improvements. The wife and I have been planning to either purchase a home for ourselves or use the money to repair the roof ourselves. I am thinking another option is to purchase this home and do the repairs ourselves by another home improvement loan while my in laws don't need to worry about this house any longer. My question is can they sell it to us and should we buy it? My wife heard from a friend of a friend of another friend you can not purchase property from friends and family. I am calling BS but I am sure there are laws which might govern the sale. I am not sure who I should talk with but want to start reasearch somewhere... [link] [comments]  |
| Fire Escape in a 3 story townhouse / condo Posted: 25 Nov 2018 05:53 PM PST Hi I'm seriously considering buying a new apartment which is in a building that has been converted into three condos, from a single family townhouse. The building it three stories and is is NJ. At the back of the building, there is a huge fire escape. I believe they are called egress stairs which would usually be seen on large apartment blocks or offices. Image of the stairs from condo... My issues is that you can access them easily from ground level so that anyone could climb up there and have access to be able to try and access my apartment via the back window or get onto the rooftop. The fire escapes I have seen on NYC blocks usually have a ladder that slides down, so you can get out but not in. Anyone know why these were put there? And how they can be secured? Thanks [link] [comments]  |
| Pros and Cons of starting an LLC for real estate investment? (CO, USA) Posted: 25 Nov 2018 11:47 AM PST My friend and I are looking to start a real estate investing venture acquiring rental properties. We would most likely have joint mortgages on our rental properties. What are the pros and cons of starting an LLC (or something better if that's an option) for this kind of venture? We would most likely be looking to have properties in multiple states if that makes any difference. [link] [comments]  |
| Posted: 25 Nov 2018 09:01 AM PST Got a flip on a busy road that I've already lowered the price on three times. I'm trying to come up with other ways to entice a buyer without constantly going down on the price every week or so...im sure it's already got a great stigma attached to it. That road was a bigger factor than I had anticipated -- otherwise I get good feedback on the overall house. What do you think would be enticing for a buyer in the high $130k price range that would cost us less than $5k? Above ground pool? Hot tub? Entertainment center? Just trying to spitball ideas here... Edit: I should say that I think the house is priced well, it's just the road is having an impact. It's just a more traditional sale of 30-60 days to get under contract instead of 1-4 days we've been seeing. Just really want to get this thing sold before year end so it would help out our year end accounting and our reported profits. I just don't want to drop the price by $5-10k in hopes for a quick sale, because that is more difficult to recover from than just offering perks. If it doesn't sell after that big of a drop then I've just permanently scared a potential future sale if we just decide to hold and wait it out once the year end option no longer becomes obtainable. [link] [comments]  |
| How to get a loan for vacant land... Posted: 25 Nov 2018 08:44 AM PST Hello everyone. I have found a piece of property that I am seriously considering buying. The land is listed as vacant with a run down mobile home that sits on it. However I would not be able to pay the price in full with cash. Currently the land itself lists for 110K and I would have 45K to put as a down payment. So I would need a ~65K loan. I have read that land loans are harder to get than a traditional mortgage so what is the best way to go about to get a loan for this property. This is my first home/land purchase and I plan to put a house eventually on this property. Any input or advice would be greatly appreciated. [link] [comments]  |
| Posted: 25 Nov 2018 10:31 AM PST Hello, I have a very odd landlord. I commented that I was researching hand guns. He advised me that there are no dogs or guns on the property. I rent an apartment not a room in a house. I would believe it's my 2nd amendment right to own a gun. Isn't that correct? Thanks for feedback. [link] [comments]  |
| How can I avoid being flagged for owner occupancy fraud in this situation? Posted: 25 Nov 2018 02:17 PM PST I'm considering moving into a townhome, nested in between 3 other townhomes. I'm concerned that one or more of my 3 neighbors may be noisy or have loud children. If this is the case, I'll want to move but keep this "noisy" property as a rental...
How difficult might this process be? How have you seen similar situations like this work themselves out? How much work will I need to do? Thanks in advance! [link] [comments]  |
| Older parents thinking of buying a home Posted: 25 Nov 2018 12:03 PM PST My father whos 56 and mother 47 are considering moving out of our small rented home and buying a house for our own. Now my argument is they should rent a bigger house, were looking at a 4 or 5 bedroom for the 6 members of our family, just because in 5-10 years time me and my siblings will have moved out by then and theyd have to start downsizing and renting or buying a much smaller home for them two. I dont know real estate much, but should they buy a 4 bedroom home only for us to move out in 10 years at most? Or just rent a home of that size and move out when they want to purchase a much smaller home or rent one? I feel as if theyre too old to buy a home now and have a 20-30 year mortgage hanging above them. That time has passed. [link] [comments]  |
| What do you all do to get listings aside from referrals? Posted: 25 Nov 2018 11:21 AM PST I know cold calling FSBO and expired listings is big but is there another effective way to get listings? [link] [comments]  |
| [GA] Structuring a real estate deal (rentals) Posted: 25 Nov 2018 10:00 AM PST Hello, My name is Alexander, I am 20 years old and I am going to invest in real estate property in the Atlanta area. I own a marketing company and have money set aside to invest, because who likes dead money right? __ My business partner owns 30% of my company, he would like to invest as well. The problem I am finding is that there is not much benefit for him to invest 6,000 and own 30% of the rental. Background to get a understanding: The property is 100,000. I will invest 14,000 : 70% He will invest 6,000 : 30% Net Cash Flow Prediction: $300/mo 70% : $210/mo 30% : $90/mo Him and I live together and work very well together but I am the brains of all our operations, he helps by being present and bringing ideas. I am looking out for him, and want to structure a deal that will be beneficial to him as well. My current solution: Split the net profits 50% until his 6,000 is paid off then return to 30% profit after he has made his investment back. However this will still take 3.33 years, which is a long time. I want his investment to be paid off quicker than mine because he will not have any say when I choose to sell the property. Now this this information, can anyone help me think and structure a deal that would be beneficial for him to be involved without later regretting it? This may be confusing but this is how my brain works. Thanks, Alex [link] [comments]  |
| Should I sell now or pay off more of my mortgage? Posted: 25 Nov 2018 08:57 AM PST Im trying to see how much profit I could get for selling my house. I owe $109K and im wanting to sell for $135k. Given all the realtor fees and closing costs, would I come out with at least $20k? [link] [comments]  |
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