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    Wednesday, December 26, 2018

    Selling Real Estate in Russia? Are You Crazy? Real Estate

    Selling Real Estate in Russia? Are You Crazy? Real Estate


    Selling Real Estate in Russia? Are You Crazy?

    Posted: 25 Dec 2018 04:09 PM PST

    How much can I haggle foreclosure price?

    Posted: 25 Dec 2018 10:45 AM PST

    Hello,

    There is a foreclosure (bank owned) for $230k. I did a walk through and everything looks good sans carpet/paint (foundation, driveway, etc are all solid). It's been on and off the market for 9 months due to a couple other pending transactions that fell through due to buyer financing problems. I have no idea how much wiggle room a bank will give me, so any ideas on what I should come in with?

    submitted by /u/smokeymcdugen
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    How to evaluate lenders?

    Posted: 25 Dec 2018 09:53 PM PST

    I'd like to buy a home in the next 6-12 months and I would like to be educated on the lending process. Here are my questions, but in general, I'd like to learn how to evaluate lenders and what criteria should I be looking at?

    1. What are the fees that I should be looking at?
    2. From my initial research, it seems like the variables are interest rate and mortgage closing cost?
    3. What are typical mortgage closing costs? What is a good and bad end of the range?
    4. How should I get started on researching a good lender?
    submitted by /u/catdog123412
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    Should I Keep Warranty I Got With The House

    Posted: 25 Dec 2018 11:40 PM PST

    So I just bought my condo almost a year ago and it came with a First American Home Warranty. It seemed kinda cool as it covers some things and it was already paid for. However, once renewal time comes around, I will have to pay about $61 per month for this warranty?

    What is your opinion on this? Is it necessary? I feel like with walls-in home insurance, I am covered enough. This feels like a scam, what are your thoughts?

    submitted by /u/Agent666-Omega
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    Im looking for website

    Posted: 26 Dec 2018 03:13 AM PST

    Hi everyone, im looking for websites where i can search for various announcement about property sales, renting and such in europe and usa. Could you offer me the most popular ones? Thx

    submitted by /u/MMarvell
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    Flipping with a conventional loan?

    Posted: 25 Dec 2018 11:17 PM PST

    I'm a novice and I'm just trying to understand how this works. I know flippers usually buy properties with all cash. Usually cash they have themselves or thru a hard money lender. That way when they flip it, they make all the profit. But what if someone got a conventional loan for a flip and only put down like 20%? How much would you profit? Do you only get your down payment back and 20% of the delta? Or do you get the full delta and your down payment? If so, why doesn't the bank get that profit too? They're the ones who technically own the house and are loaning you the money. Seems like it wouldn't be worth their risk to do that then. I've just been thinking about this and I don't know the answer. Do banks not offer conventional loans for flips for just this reason then? Or is it just not usually done? My curiosity is piqued. Thanks in advance.

    submitted by /u/pavpatel
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    Great Location vs. Good Location?

    Posted: 25 Dec 2018 04:20 PM PST

    I'm looking into buying a home and found 2 that i really like. They are around 3 miles apart with house 'A' being in a great location and neighborhood a mile from the beach. House 'B' which i would classify as a good neighborhood and location has more square footage, walk-in closet, wood flooring a few other bonuses that house 'A' doesn't have. Both homes are newer so condition isn't a issue so taking that out of the equation does location and proximity of a home usually top everything else on the list when it comes to what buyers tend to go for?

    submitted by /u/justin552
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    Brokerage firms

    Posted: 25 Dec 2018 10:08 PM PST

    What should I look for when choosing which firm to hang my license?

    submitted by /u/GrouchyBunny
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    What are the basic steps to getting a house built?

    Posted: 25 Dec 2018 04:10 PM PST

    Price reductions in homes increase during December stock crash

    Posted: 25 Dec 2018 03:12 PM PST

    We have been looking at houses in Montreal since summer and since the stock markets so drastically dropped in December it seems the change from sellers market to buyers market is happening, especially the last week.

    We never saw reductions in price, now homes we were considering to buy are price reduced by 8% 10% even an 11% drop.

    Before December we almost never saw proce reductions, and if we did it was 1% or 2%...maybe even less than 1%.

    I suspect people seeing their wealth in equity drop so fast while interest rates rise has changed the market environment. Has anyone else noticed price drops increase, especially the last 2 weeks.

    submitted by /u/Rellim03
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    Good advertising international RealState website ?

    Posted: 25 Dec 2018 09:06 PM PST

    Hello, I hope I'm in the right sub. My question it's a little specific. Long story short, my familly's trying to sell a really big property in Argentina, what advices could you give me to advertise this internationally, because Argentinian local investors are in a hold since a year. And I'm not sure I trust/understand what I find while googing for answers. Any hint would be appreciated !

    EDIT : typo

    submitted by /u/French_foxy
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    strategic foreclosure

    Posted: 25 Dec 2018 10:57 AM PST

    i live in delaware county Pennsylvania, i bought a house in 2006, y'all know what happened after that, my home is currently half of what i paid for it. i have always wanted to stay since my payments are equivalent to renting. Heres the issue, if i had walked away 8yrs ago in 2010, i couldve been able to buy back a house in this neighborhood for half the price. Heres my 2 question, keep in mind I understand the credit consequences, am 33 single no kids.

    1. Should i just walk away.

    2. how long do foreclosure take (how long do i have after i miss my first payment to the day they officially kick me out, i would like to save abt 4 months payment 1200/m to move elsewhere).

    submitted by /u/alphons3k
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    (USA) Looking to buy property with a guaranteed rent program. Where do I start and where should I look?

    Posted: 25 Dec 2018 06:58 PM PST

    As the title says, I'm a first-time investor and I recently found out about guaranteed rent programs (rent to rent) so it's something I'd like to pursue further.

    Google searches have only taken me so far and outside of pages describing rent to rent programs, I can't seem to find any websites with companies that do this.

    Is it something that only really happens in condo associations? Is there a way I can search for said places?

    submitted by /u/leeber27
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    What to offer on a pre-foreclosure scheduled for auction?

    Posted: 25 Dec 2018 06:43 PM PST

    I've found a couple houses going to auction at the end of January from the Denver county website. They are listed on MLS as being in pre-foreclosure. I've also gathered info on the loan amounts from RealtyTrac and the title info. Both were issued foreclosure notices several months ago.

    One house is listed as being worth $700k (averaged from various sources) with an outstanding loan of $420k. If I were to make an offer prior to auction while they are still in pre-foreclosure, what would be an acceptable offer on the house? Enough to cover the existing loan (i.e. $425k or so)? That would cover the outstanding loan, the seller would avoid having a foreclosure on their record, and the house would not go to auction.

    The other house is worth $750k with an outstanding loan of $280k. This house has been listed for sale at $699k for several months and is being shown for viewing. In this situation, would the seller even accept an offer as low as $400k?

    My understanding is that if these houses do not sell prior to auction, they will be auctioned off at the loan amount and purchased by the bank, unless other bidders are interested. Per the Denver county website, it appears most foreclosure auctions are being purchased by the bank for the outstanding loan amount (though I've found a few that sold for less to other bidders). Wouldn't sellers prefer to sell the house and avoid a foreclosure on their record while generating enough from the sale of their home to cover the outstanding loan? Would most balk at the idea of being offered so little in comparison to the value of the home?

    I am considering purchasing one of the homes at auction if this route does not work, but would prefer not to. This would not be an investment property. My max budget is around $450k.

    Thank you in advance!

    submitted by /u/rightmeow6
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    Just went under contract on a Townhouse, Should I increase the Down payment? Should I buy down the interest?

    Posted: 25 Dec 2018 05:30 PM PST

    Merry Christmas peeps! My wife and I just bought another townhouse for Christmas! It's been great and we've been busy, but we have some questions.

    We have another townhouse and a condo already.

    We're wondering what the common consensus is for buying down interest rates and for how much down payment to put in.
    The townhouse has an unfinished basement, so we're going to finish that and then move again and use it as another rental.

    Should we put down 5% or 3%? If we put down 5%, we can cash flow after we move, if we do just 3%, we'll have more cash on hand to finish the basement sooner, and then start saving for our next one. Maybe even invest in midterm (waiting the time to buy another primary residence).

    Should we buy down the interest rate? Right now it's at 4.75%, we can buy it down to 4.5% for $2,000. It'll take us roughly 60 months to recoup the $2k that we'd use to drop the rate, but then we'd cash flow a bit more after. Or should we take that $2k and have the money on hand to invest for the next one.

    Anyways, that's my question. I love the idea of cash flowing more in the future, but after reading a part of : "Ordinary People, Extraordinary Wealth" by Ric Edelman, I'm just not sure anymore. I'm leaning towards just keeping all my cash on hand, finishing the basement without an issue of cash (which it wouldn't be, just need wait a few more months) and saving/investing until the new place. Instead of just dropping it all in the property.

    Thoughts? Advice?

    Thanks in advance!

    submitted by /u/woodmister
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    Sell, hold, or refinance rental property??

    Posted: 25 Dec 2018 11:48 AM PST

    Hi all,

    I have a dilemma and need some advice. My parents own a rental property in Tustin, California and I'm not sure if we should hold, sell, or refinance it. We bought the single family home 2 years ago for $600k ($400k down payment, and $200k 15 year loan @ 2.875% interest). The property is rented out for $3000/month. After all expenses, the cash flow is ~$1000/month.

    The property is worth a little over $700k now. We are expecting the property value to increase further once the planned community (http://www.tustinca.org/depts/ed/legacy/) construction is completed down the street.

    Before we bought the property, I tried my best to convince my parents to put a smaller down payment (maybe $300k) and opt for a 30 year loan. That way the property can cash flow more, and we can use the remaining cash to put towards another rental property out of state. Unfortunately, they declined.

    My realtor in Boise, Idaho is trying to convince me to sell the rental so I can buy property out of state. He says that the opportunity costs out of state is much higher than what the rental property value can increase to.

    At the same time, my realtor in Orange County is telling me to hold on to the property, refinance it, and take out equity to use towards another investment property. He says it's okay even though interest rates are increasing. His strategy is to accumulate as many cash flowing properties as possible.

    I admit I'm new to this, and I'm still learning about RE investing. I know how cap rates work, but I feel like it does not show the entire picture. Our goal here is to make our RE investment grow as efficiently as possible. I've been exploring my options and mapping out the possible scenarios. I was hoping you all can tell me something I don't know or overlooked.

    Thanks everyone!

    Edit: Shoot, my bad, I should have mentioned that a 1031 Exchange may be an option too.

    submitted by /u/shitonu1
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    $350,000 with 50K a yr job

    Posted: 24 Dec 2018 08:55 PM PST

    Im looking into buying a home for about 350k (austin, tx) or less with about a 35% down payment for 30 years..Great thing is we have 2 cars paid off (2015&2017) so that helps a lot but my wife thinks we should do around 250k or less which i really dont want. Currently have job in IT with an annual salary of 50k. Just wanted to know any professional opinions about this and if you have any advice.

    submitted by /u/cbreezy512
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    Selling Real Estate Property abroad from Canada

    Posted: 24 Dec 2018 09:14 PM PST

    Hello fellow Redditors,

    I have a home that I own back in my home country of Poland (currently residing in Canada) and I am interested in selling this home. I have listed this home on the market through a real estate agent but would also like to find any other means that would accelerate this process as the real estate agent isnt having much luck. Any sites that you recommend to post this home as to advertise it to see if I can sell it myself? What taxes will I have to pay there (Poland) and here (Canada)

    Any help is much appreciated:):):)

    submitted by /u/canadianhifive
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