Living in Gatineau... Real Estate |
- Living in Gatineau...
- Negotiating Rent for a Commercial Space
- Renting out a room in my house, any advice?
- How to sell shares in Commercial Real Estate
- Need house selling advice
- Commercial Real Estate investing pitfalls.
- My parents are aging and having trouble managing their rental houses. Any advice on hiring someone to take them over? [TN]
- Looking into buying a duplex and renting out one half and living in the other- how much can I afford?
- Will I be able to buy?
- I’m an on-site property manager, and I want to get my real estate license. RE agents, what are some pros and cons?
- How realistic am I being for buying a house right now? [CA]
- For lease-to-own deals on a property, is the contract legally binding for the tenant to buy the house? If not, can it be made to be?
- Found Dream House---Needs $80k Repairs. Best Way To Go About It?
- Getting equity from home to put towards new home before selling?
- Need larger loan (buying in California) where to go?
- Are there any books on how to identify bargain houses?
- Identifying homes on the verge of foreclosure: resources to do so or successful approaches used?
- How To Tell if a Suburb is "Safe"? (IL)
| Posted: 10 Nov 2018 10:53 PM PST Hello, looking to buy our first home in Gatineau and work in Ottawa. We currently do not speak French and really are only looking in Gatineau because the prices are so much cheaper. any thoughts or anyone's experience? thanks so much [link] [comments]  |
| Negotiating Rent for a Commercial Space Posted: 10 Nov 2018 12:35 PM PST So I was posting to ask for advice about negotiating rent. So I run and own a comic book store and have been in this building for 3 years (it was a minimum 3 year lease.) It went up 3% every year. I have always been consistent and have never paid my rent late. My shop is in the city's verrrry touristy Downtown, but on a side street, not the main strip. The side street I'm on is usually dead as hell. There's not very many other retail shops near me that really draw people may way down this one. The few shops that are down this street close at 5 or 6 PM, while the shops on the main strip are open until 10PM. I currently pay $2,062 per month at my spot. The Building I'm in is an L shape, so part of it is on the busy main strip, and the other part is the dead street I'm on. A business is leaving on busy side, and I've kept my eyes on it. The unit I'm looking at would be across the street of the brand new, newly built building housing H&M, Starbucks Reserve, and a 7 story hotel. And every Thursday (Basically two months out of the year) they shut down the street to have a vendor street fair that's incredibly popular, and parades. Meanwhile I'm on my dead street I'm next to a dead art gallery and dead restaurants. And the unit itself it much nicer and visible. The Building Managing company fiiinally came back to me with a price for the opening unit I've been looking at, but it was way worse than I expected. They are asking for $4 a square foot for a approximately 1,500 sqft space. So approximately $6,200 per month. I was expecting Double the price, not triple! The Management said the landlords are charging this much because the new building across the street is charging $5 psf, and they were able to renew two businesses at the $4 rate. I know that the landlords and management like me, but I don't know if it's possible to negotiate them down from such a high price. There's no doubt I'll be incredibly busier on that main street, but that rent cost makes it seem impossible. Would there be a way I could possibly negotiate more or less a $4,000 a month for the space? Maybe by extending my lease for 5 years instead of the minimum 3? Is there anything I can do to negotiate? I was suggested I offer $3,000 to begin a big war towards $4,000. [link] [comments]  |
| Renting out a room in my house, any advice? Posted: 10 Nov 2018 10:00 PM PST So to make some extra money I am considering renting out a room in my house. It's a 900ft ranch with no basement so we will be sharing the space. I plan to vet the person and not just take in any random stranger however I could use any advice from those who have done this before. I plan to add locks to all bedrooms to keep anyone from snooping but other than that I'm not sure what else I could do. Any suggestions would be appreciated! [link] [comments]  |
| How to sell shares in Commercial Real Estate Posted: 10 Nov 2018 11:47 PM PST Ok, here is a long story short. The Twist Where we are now Selling the property [link] [comments]  |
| Posted: 10 Nov 2018 08:00 PM PST My house has been on the market for 6 months now with no offers put in at all. I feel like my real estate agent is slacking, but I'm not sure what else I can do. What would be involved in firing the realtor, can I do that easily? Are there other options? Thanks for any help. [link] [comments]  |
| Commercial Real Estate investing pitfalls. Posted: 11 Nov 2018 01:42 AM PST I'm looking into investing in commercial real estate. In particular one building that I'm looking into is on the market for 990k. It consists of two shops in a fairly popular location. The two shops are currently rented for 56k (ex VAT) and 28k (ex VAT) per year respectively. This appears to be a fairly good annual return of around 8.5%. The things that worry me are as follows: The first shop's lease expires in September 2020 and the second shop's lease expires in July 2019. This would be my first commercial real estate endeavour. Can those with more experience give me some advice into what I should look out for or ask to the real estate agent? My fear is that the shops are not looking to renew their leases and therefore the owner is looking to sell to avoid having to look for new tenants. Thanks! [link] [comments]  |
| Posted: 10 Nov 2018 02:02 PM PST Hi folks. Sorry if this has already been covered somewhere else - I'm having trouble finding consistent information online and am really out of comfort zone (not into real estate at all). Hoping reddit might be some help. My parents own two single family houses that they keep rented out. Right now they're managing these properties themselves with everything that goes along with that - maintenance, lawn care, finding tenants - the works. They do it all. But they're aging, and like a lot of folks post-retirement they're having a harder and more difficult time keeping up with the work of landlording. They've recently started wondering if it might be time to hire someone to handle the two properties, but these two houses don't generate a huge income so hiring someone on a percent bases may be the only way to do it. My mother has asked for me to help them figure out a way forward since I've helped them financially in the past, but truthfully I'm out of my element here. What do you all think about property management companies? Are they generally a good way to produce more hands-off income? Would it be better to hire a person instead of a company to handle the properties? Any bad experiences this first-time dude might do well to keep in mind while looking into this? Honestly any advice, personal anecdotes, or points in the right direction would be super helpful, so thanks a million to anyone who chimes in. Some relevant information: Both houses are in the same town in Tennessee. One house averages about $1200 per month and the other about $700 per month in rent. Both properties are fully paid off. I unfortunately cant take over for them because I don't live in the area. Selling is not an option. These houses belonged to my grandparents before my mother inherited them, and for sentimental reasons she does not want them to leave the family. Also, my parents don't rely on these properties for their retirement income. So paying for someone to manage them isn't a huge deal so long as the fees are reasonable. Again, many many thanks for any advice at all. Cheers. [link] [comments]  |
| Posted: 10 Nov 2018 01:42 PM PST Sorry if this has been asked a million times. I've been searching all over and I can't figure it out. I've been trying to stay under $150k but I'm wondering if it would be better to just go for the $450k ones in the nice areas that I would really enjoy living in. I read on one website this guy bought a duplex for over $500k with only 3% down (I think because he was living there? Idk). I've already looked at places, my dads a landlord, and I've been talking to a buying agent. My dads the cheapest person on the planet and thinks it's worth it to deal with bad tenants, but I don't want to do that. I have a good amount of money saved, but I don't make anything since I'm a student. My boyfriend was gonna split it with me, but I think he's scared so I kinda said fuck it I'll do it alone. I can put $60k down and my credit score is good. [link] [comments]  |
| Posted: 10 Nov 2018 05:18 PM PST My fiancee and I are looking at buying a house but niether of us have credit. We have always just paid cash for everything and rented up until now. We both gross approx 85,000 dollars yearly and are looking for price of 75k to 95k. We are able to put 20% down as well. So should I even bother wasting a agents time or should I just wait and get a credit card to build credit.thanks. [link] [comments]  |
| Posted: 10 Nov 2018 09:53 PM PST I'm 29(M), I've been in multi family for 2 1/2 years managing assets from 60 to 300 units (I've travelled all over the country for the same company). I am currently on call 24/7/365, so I'm used to the odd hours and after hours calls. I make myself available to my residents at all times. I'm also directly responsible for the financial performance of my asset, and all operational aspects that entails: Leasing, collections, marketing, budget, setting rent rates, CAPEX projects, on boarding and managing vendors, the list goes on. I've learned a lot about the business, and I've been doing well getting leases signed and maxing occupancy. I feel that given my experience, I would make an effective RE agent. I plan on going to school part time to get my license, and then working my way into a brokerage as a full time agent. Real estate agents of Reddit, what are some things I should be thinking about? What are some companies that I should be looking to be hired at? Also, is the first year really as difficult as a lot of people say? I'm grossing around $52,000/year at my current position. What are my chances of at least meeting that figure as an agent? I work like a dog, and I'm highly motivated to succeed in this business. [link] [comments]  |
| How realistic am I being for buying a house right now? [CA] Posted: 10 Nov 2018 06:39 AM PST I am a single male at 28. Right now I have saved up about 18k. It will be 20k at the end of the year. I have saved 10k last year, and 10k this year as per my goals. Despite financial set backs such as buying a car (5k). Right now I am making approximately $14 an hour (29,120 a year) at the same company for 2 years. I have no real amounts of credit history, and no credit cards, outstanding loans, etc. Here is the plan: I am looking at houses around 200-250k with an emphasis on 3-4 bedrooms. I am looking to get a place, and immediately get roommates to fill all available rooms in the house. This would be about 700 per roommate. Is it reasonable for me to even expect to get a loan with this plan? Would a bank or federal loan of some sort work with me? As an example: A house I am looking at right now is about 210k and 4 bedrooms. That would be I assume a mortgage rate of around 1.8k-2k with taxes/insurance. I also know the location is "rural" and qualifies for the USDA loan. Edit: What about a rent to own situation? How likely am I to find that, and how would one even find people or possibly banks that would do that for me? [link] [comments]  |
| Posted: 10 Nov 2018 08:20 AM PST First, I'd like to mention I'm an extreme newbie to real estate but I'd like to get into it. Essentials, for Lease Options, lease-to-own, or rent-to-own, as a landlord am I able to legally bind the tenant to buying the property at the agreed upon time? This would severely cut my risk of someone running out in the deal. Although from the tenant's perspective it would be a large leap forward, and a big commitment, as the land lord I want to be able to close and guarantee the deal. Is this already how it work, or can it be made possible with the right legal terms? Thank you! [link] [comments]  |
| Found Dream House---Needs $80k Repairs. Best Way To Go About It? Posted: 10 Nov 2018 08:59 PM PST Hey all. Thanks for taking the time to read. Here's the situation: We found the most amazing house ever. The house is $350k---all the comps and multiple realtors have agreed the house is worth $600k and could be worth $700k with work and improvements. The catch is, the house is built into a hillside and is up on piers/beams. The beams have settled a few inches into the ground below, and engineer estimates to stabilize the house have come back in the $70k-$80k range (the sellers are 95 years old, moving to assisted living, and don't want to deal with the repair). We really want to buy this house, and can afford to take on a mortgage big enough to do it, but need to pay for the repairs somehow, which we can't do straight out-of-pocket now. We do have $175k in equity in our current house which we are planning to use all of as our down payment. My questions are: What is the best way to finance the repairs? Can we get a home repair loan on a house we don't own? Should we put less of a down payment down and pay for the repairs out of equity? Am I completely stupid for even wanting to do this at all? Thanks for the thoughts in advance. [link] [comments]  |
| Getting equity from home to put towards new home before selling? Posted: 10 Nov 2018 06:47 AM PST Planning to move in the next 6 months or so. Is there a way to get our equity to use as a down payment before we sell? If we took a HELOC would that hurt our credit? Is there such a thing as a home loan where you can put the 20% down afterwards? Like borrow 100% for a while but then pay a lump 20% and have the monthly payment drop down? I'm trying to figure out how to move without making the sale of our current house delayed by the purchase of our next. [link] [comments]  |
| Need larger loan (buying in California) where to go? Posted: 10 Nov 2018 04:55 PM PST I want to buy a house in another town about 600 miles away where my mother lives. I am looking for a job in that town and I will move back as soon as I get one. I went to Chase and they approved for second home loan 250K at 10% down. The town I am moving to is expensive. I need around 500K with 10% down so about 450K loan. My mom lease is up in December therefore I want to buy as soon as possible. My gross income is $5800 a month and my fico score is around 700. I have no debt not even student loan. My mom is on social security and her credit is very bad 500. She will help me with the mortgage about $300 a month. I have 50K for down payment and good amount in retirement accounts. I currently rent at the moment. [link] [comments]  |
| Are there any books on how to identify bargain houses? Posted: 10 Nov 2018 01:21 PM PST I want to buy a house in the next few years, so I'm educating myself now. Here's what I'm thinking: The average buyer probably doesn't know the cost of home renovations, and may be willing to pay extra to avoid any hassles. I'm pretty handy and thrifty- are there any guides that teach you how to identify bargain homes, that sell for cheaper because of relatively minor issues? For example, maybe an old, dilapidated pool can typically drop the price of a home by $10k, but it would only cost $5k in material and labor to just outright remove the pool. Stuff like that. [link] [comments]  |
| Identifying homes on the verge of foreclosure: resources to do so or successful approaches used? Posted: 10 Nov 2018 12:51 PM PST |
| How To Tell if a Suburb is "Safe"? (IL) Posted: 10 Nov 2018 09:20 AM PST Hi everyone... So I'll be in the market for a home in a year and I've been doing some basic home searches online, but I've been wondering how would I be able to tell which suburbs are safe to live in? I don't mean the obvious ones that have the expensive homes in them; I mean in terms of suburbs with average home prices and are average looking. Sure there are plenty of suburbs in Illinois that I'm familiar with, but there are equally as many that I've never been to. Are there warning signs I should be aware of? Any tricks or tips on things I should look for to help me determine this? Some Illinois suburbs I've been looking at are Mundelein, Bolingbrook, Huntley, Grayslake. Mostly way outside Chicago, West and Southwest. Thanks! [link] [comments]  |
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