Kind of surprised by the lack of respect Real Estate |
- Kind of surprised by the lack of respect
- My realtor gave me bad information and I didn’t buy what I thought I bought. What now?
- Buying a model home that builder still needs for showings. Builder wants to lease back for a year. What are my mortgage options? (CA)
- How much do you think a metal roof can boost home value over asphalt shingles?
- First time joining a Real Estate LP... Am I getting ripped off?
- Interested in a house, but I saw on Trulia that it was sold 3 months ago for $100,000 less. What approach can I take for negotiating a better price?
- Selling House Question
- Investment opportunity help
- What happened to Redfin's Virtual Tour Slideshows?
- Is it a bad time to be buying RE in NY at moment?
- Can we hire an agent that offers a commission rebate AFTER we have already had some interaction with the seller agent? (NJ)
- What type of jobs are there in the real estate industry?
- Buying an apartment for my mother to rent in DC
- Is it possible to get your license online?
- Under contract on property, seller saying they plan to keep EMD (FL)
- Worth Stretching the Budget for a Dream Home?
- Paying for photography?
- Property Management Company Goes On Auto-Mode
- Kitec Plumbing
- How does median household income correlate to real estate prices? [New Jersey]
- First time home buyer deciding if we should buy town home
- Repair timeline questions...
- Have any agents paid for Zillow premier since June?
- Putting in an offer on a house prior to auction?
- Unique Buying Situation
| Kind of surprised by the lack of respect Posted: 28 Jan 2019 01:41 PM PST I'm new to real estate. It was a career shift for me. I was a business owner for over a decade in fine woodworking and carpentry and a few years ago I co-founded a small but successful marketing firm that continues to do specialized projects for big companies including some fortune500s. I never had an opinion really about real estate agents. I have some friends who are agents and liked them and saw them as successful people who seemed to like their jobs and were always involved in their communities. So, long story short, I was getting tired of some things in my woodworking business, just market stuff and I decided to make the leap into real estate because my marketing skills and understanding of home building seemed to fit well and because it offered me an entrepreneurs flexibility of schedule. Since I got my license and have started to practice I have been kind of caught off guard by how people react to me. I feel like a lot of people look at me like a used car salesman all of a sudden and its kind of alarming. I came from a world where my clients loved me. everyone loved working with me and for me. I always approached people with contribution and quality in mind. I've had that same approach in real estate...I also feel like yea, its a sales job, but the information, the access, and the legal help I can offer (not to mention the marketing and sales expertise) goes way beyond what a typical salesman can offer someone. [link] [comments]  |
| My realtor gave me bad information and I didn’t buy what I thought I bought. What now? Posted: 28 Jan 2019 07:17 AM PST I'm in Connecticut, if that matters. I was recently purchasing a house with about 5 acres of land. According to the town GIS, on the southern border of the property there was a separate plot that was 30' wide and 850' long, owned by the same person I planned on buying the house from. Prior to purchasing, I asked my realtor if both properties were included, as I wanted both. She said, "that is an old easement that no longer exists. They had deeded an easement to their daughter, who owned the land behind them. When the daughter sold the land, she deeded it back to the parents, but the town just didn't combine it into one, but yes, both parcels will be yours". Perfect, I go through with the purchase. Well, when I get the deed in the mail, it doesn't include the second property. I go to the town hall, who tell me that their online GIS is wrong, and the land was actually deeded to the property behind me. Not only was it not included in the sale, they didn't even own it anymore to sell me. So what do I do now? [link] [comments]  |
| Posted: 28 Jan 2019 08:36 PM PST I'm a first time homebuyer in California. I'm looking to purchase a model home that is still needed by the home builder. Like the title says, the builder needs it for an additional year so they want do a sale leaseback transaction. My realtor says this purchase will be considered an investment property. Is this true? Can I get a standard conventional 30yr mortgage since this will be my primary residence after the builder returns the property? Or will this be seen as an investment property and I will have to pay the higher APR and larger down payment. Thanks in advance. [link] [comments]  |
| How much do you think a metal roof can boost home value over asphalt shingles? Posted: 29 Jan 2019 12:23 AM PST My home sustained a little bit of hurricane damage, and insurance paid me $8,700 to fix. But I'm thinking about doing a metal roof this time. I realize metal is more expensive to install, but for a 1,200 sqft home in northern Florida, how much do you think it could raise the home's value for resale? [link] [comments]  |
| First time joining a Real Estate LP... Am I getting ripped off? Posted: 28 Jan 2019 11:56 PM PST I'm looking at a RE investment in an 8 unit multifamily via an LP. I know the GP's from other business we've done together but this is our first RE deal together. What does Reddit think about these terms? Are they standard/fair? The GP's are proposing the following structure;
[link] [comments]  |
| Posted: 28 Jan 2019 07:50 PM PST I don't know if I should trust what Trulia said about it being sold in November, and for that price. Currently the asking price is 100k more than that number. I know for a fact that no renovations have been done to the house, as it's near condemned. I'm interested in it because of the land size and the ability to renovate it myself in my own way. [link] [comments]  |
| Posted: 29 Jan 2019 12:29 AM PST Hello all, this is my first time visiting and posting to this sub so please forgive me if this is out of order, but I was hoping to get some advice. Thanks in advance for reading. My dad sadly passed away recently and as his only child he left me his home in his will. I recently just paid off my own home, so I was thinking about selling my dad's. Unfortunately it is in rather poor shape, and I live in another state so I wasn't really able to help him maintain it over the last few years. Luckily no major renovations are needed, but it is very old and outdated and would need lots of cosmetic updates (new carpets, appliances, paint, etc) in order to get a fair value. There is also major yard work to be done in the backyard which is completely overgrown with weeds. I was wondering if anyone has been in a similar situation and could possibly offer me some advice? This is my first time selling a home so I'm basically going into this blind. I can't really afford to do too many repairs to the house since most if not all of my money is already invested in my own home, but I'm worried that trying to sell in its current state would be a bad idea and I'd get well below market value. The home is located in Phoenix, Arizona for what it's worth. Any help would be greatly appreciated! [link] [comments]  |
| Posted: 28 Jan 2019 12:17 PM PST 📷 First time investor/poster A friend approached me with a deal, he owns 50% of a mobile home park, with 2 other partners owning the other 50%. They bought it for 850,000. They are wanting to sell the park for 1.45million but says he will sell to me for 1.2million. The park has a gross rent income of 18000/mo with room to grow according to them. They claim the highest expenses have been were 5000 as of last month. My friend states he does not care if it sells or not because it has such great margins. but the other two want out. They've owned the property for a year now. At first they were trying to sell totally but my friend wants to rebuy it from his other two partners with myself. I do not have the 20% to put down on 1.2M but they are willing to owner finance for 50k down. Here is the email they sent with quotes. "33/33/33 scenario Purchase price of $1.2 million of which $200k can be owner financed for 1555 a month for 20 years to JED. If all 3 guarantors put down 50k each remaining note would be $850k which is $7300/mth to the bank based on a 15 year amortization. December rents totaled $18k Worst month of expenses so far has been $5000. Should you use this factor, you'd still have $4k left over for savings or walking around money 50/50 scenario Purchase price of $1.2 million of which $200k can be owner fincned for 1555 a month for 20 years to JED. If both guarantors put down 50k each remaining note would be $900k which is $7700/mth to the bank based on a 15 year amortization. December rents totaled $18k Worst month of expenses so far has been $5000. Should you use this factor, you'd still have $3k left over for savings or walking around money" Any words of wisdom from experienced investors? [link] [comments]  |
| What happened to Redfin's Virtual Tour Slideshows? Posted: 28 Jan 2019 10:11 PM PST I use Redfin because I like their user interface where other sites fail and one of the things I used most was the "Virtual Tour (External Link)" link they used to have in the listing details section that would take you to a separate gallery (even though usually, it would be to the same images as their default, just bigger). What happened to it? The last few months I have not seen it? Anybody know why they would remove that? It was a great feature since it showed the slideshow but with bigger, higher res clear pictures. [link] [comments]  |
| Is it a bad time to be buying RE in NY at moment? Posted: 28 Jan 2019 09:33 PM PST About to look at a property tomorrow, 2 unit townhouse in NY, buying for investment purposes, is it a bad time to buy in prime location NY at moment or wait a bit as many people are expecting collapse in price? Genuine thoughts? Thanks! [link] [comments]  |
| Posted: 28 Jan 2019 07:40 PM PST We recently attended an open house after months of not actively looking, after a few general back and forth emails with the selling agent we are now considering putting in an offer. I called out realtor-friend to let him know about the property and he said that since we never originally mentioned him to the selling agent he can not legally represent us now. Questions:
Notes: NJ does allow the rebate option, we found one that offers 2% to the buyer and will just take over from the negotiation part going forward. thank you! [link] [comments]  |
| What type of jobs are there in the real estate industry? Posted: 28 Jan 2019 03:36 PM PST I am fascinated with real estate, but I am not sure about what aspect I want to be associated with. Can anyone involved in the real estate business talk a little about what jobs they are in or are out there in general? [link] [comments]  |
| Buying an apartment for my mother to rent in DC Posted: 28 Jan 2019 06:59 PM PST I am an engineer working in Texas, but I am originally from Puerto Rico. My mother is in the process of selling her home in PR and looking to move to DC. Due to the financial situation in PR, she is planning on selling it at a loss. This means that she will not have enough money for a down payment to purchase an apartment and will have to rent. She will hopefully be finding a job as a secretary or librarian once she settles into the city but until then my family will be supporting her. I currently rent a small 1BR in Texas at $1K a month earning about 6 figures. I save typically 40% of my income and I have enough money saved for a 20% down payment on a $400k 2BR apartment. I haven't purchased any real estate in Texas because I don't see myself here in the long term but I would like to invest in it to diversify my money. Therefore I see an opportunity with becoming my mother's landlord. As the landlord, my mother or family would pay me for mortgage + insurance + taxes + 5% ROI on my downpayment and she would handle maintenance and repairs. If my mother decides that DC is not to her liking (which is not likely) then I will rent it to another tenant and use a local property management firm to continue to manage any ongoing requests. I am posting here to get an unbiased opinion on my plan. I know things can get murky when dealing with family and I would like to see if anyone else had this arrangement with a family member and how that turned out. [link] [comments]  |
| Is it possible to get your license online? Posted: 28 Jan 2019 06:58 PM PST I would like to have access to the mls. I was thinking about getting my license here in ca but it would only be worth it if I could do my pre-exam, 135 hour education requirement online. Anyone know if the services offered online are legit? Any success stories? [link] [comments]  |
| Under contract on property, seller saying they plan to keep EMD (FL) Posted: 28 Jan 2019 06:48 PM PST My buyer is under contract on a house. Inspection period went through the 27th. I submitted a cancellation a few days earlier since the bids were too high to renovate, the mortgage company kept changing their estimates, and the buyer's house hadn't gotten a decent offer yet. The seller came back and said each of the following during our conversation: a. we need a financing letter from the mortgage company b. we need to see your reno bids c. we don't have a contingency on the contract for sale of my buyers house and then proceeded to tell me the seller has had costs and they plan to keep at least 1/2 of the EMD ($2500). As an aside, I submitted a sale contingency with the contract which they cut out and returned the rest of the signed contract without it. (There is still a checkbox in the contract indicating it was included). Is there any chance they are entitled to any of the EMD? What the repercussion of them not having signed the full contract I sent them? [link] [comments]  |
| Worth Stretching the Budget for a Dream Home? Posted: 28 Jan 2019 09:36 AM PST Los Angeles County/Very hot neighborhood. My wife and I found our dream house. These are the numbers- $450,000 annual income %10 DP + 2nd 10% mortgage House 1.1 - 1.4 million range Expected Mortgage around 7500 - 8000 Month expenses ~10,000 Is this stretching too thin? If one of us lost our jobs, especially the bread winner we couldn't afford it. The neighborhood will always be hot, the house is SUPER desirable-type home. Is it crazy to stretch for the dream house? We'd still have ~4-5k + in savings (liquid) per month. [link] [comments]  |
| Posted: 28 Jan 2019 06:19 PM PST I own my own online marketing and web development business where I do photography work for businesses (employee headshots, product photography and some interior/exterior shots of offices and buildings, and also drone video work). I was asked by a realtor friend to help her taking photos/drone video of a listing bc the free photographer she used turned out very poor quality photos. How much do you all pay on average to have these services done for you? 3 options I would offer: 1.Photos only 2. photos + aerial drone photos 3.photos, drone photos & video and a 60 second video walk through edited. Prices for each "package" is what I'm asking... thanks! [link] [comments]  |
| Property Management Company Goes On Auto-Mode Posted: 28 Jan 2019 05:53 PM PST My property management company automatically increases rent upon renewal without asking me for any input. Recently, they have choose a tenant for me and all I know about the tenant is they have a 700+ credit score and their names. For my last tenant they gave me all the applicant's contact info, work info, application, and even ssn, however this time I didn't get any of that. Is this normal? [link] [comments]  |
| Posted: 28 Jan 2019 05:48 PM PST I recently bought a home in a very nice neighborhood that has Kitec plumbing. It has just come to my attention that this plumbing has a very high failure rate and that the cost of re plumbing my 2500 sqft home would be north if 20k... I had a home inspection but had no idea what kitec was or that it was probe to failure. Do I have any recourse? [link] [comments]  |
| How does median household income correlate to real estate prices? [New Jersey] Posted: 28 Jan 2019 01:25 PM PST While looking at homes in NJ, near NYC, i'm quickly realizing that the homes in the 300k range are in worst-off neighborhoods (or very far away). Those in the 400-450k range could be considered starter homes, plus 9-10k in taxes. While looking at the median household income in NJ, the most affluent towns are at ~100k per household. If the math is correct it seems like you need to earn 200-250k just to be able to afford these homes + taxes + car etc comfortably. Does this mean that the new, incoming demographic, are simply going ot be high earners across every town? Does this push improvements in schools and reduction in safety? Is there ever a town where homes are priced where the median income could actually afford them? Thanks! [link] [comments]  |
| First time home buyer deciding if we should buy town home Posted: 28 Jan 2019 05:42 AM PST My wife and I are looking for our first house outside of Philadelphia. Our budget is 270k which can't really get you very much in terms of a single family out here, it would most likely need to be a fixer upper or something very small if we went that route. We looked at a town home the other day that seems pretty nice and cost 210 with a 130 a month hoa. This would work out to be about what we are paying in rent right now which would be nice. I get the negatives of sharing a wall ect which I think I am okay with but my biggest concern is the hoa. I have read horror stories of people getting hit with 20k special assessments. Is that a large risk if you are buying into an hoa? What do you all think? [link] [comments]  |
| Posted: 28 Jan 2019 04:10 PM PST Tennessee. For starters let me say that I am not happy about our performance on this. I was on vacation and so the ship was not running as tightly as normal. That isn't an excuse- it is a reason- and I only mention it so we don't need to have the "what kind of slum lord are you?" conversation. Tenant moves in the first. Contacts us on the fifth because there is no heater. This was a freshly rehabbed unit and somebody (one two three not it) forgot to install the window heat/ac units. Somehow it takes until the 14th. We next hear from the tenant on the 25th. The heaters are not sufficient. They had caught our handyman in the hall sometime before and showed him. He informed them he makes no decisions and they need to talk to us- he also thinks they are working fine. So we get an email the 25th and I go that afternoon to inspect. The heaters do work- but not well. There is definitely something wrong with them- but they do function enough that some people (like the handyman) might be fine with them. Now we have like 15 or so of this same model installed and working fine. But somehow both of theirs suck. The fans won't go to high and they just sort of get warm. I had bought five of them when I got these since we use them often. [link] [comments]  |
| Have any agents paid for Zillow premier since June? Posted: 28 Jan 2019 12:21 PM PST What has your experience been like? What is the budget you've set? How long did it take to you get any good contacts? Are you seeing returns? What is your market like? They completely changed the way things work since June, so please, no answers about it if you quit paying for Zillow before June. Thanks in advance [link] [comments]  |
| Putting in an offer on a house prior to auction? Posted: 28 Jan 2019 05:30 AM PST We found this house we love but it's an auction and they are taking offers prior. My question is what benefit does putting an offer in prior to auction have, if any? I know the market price for the place but we were looking at putting in a slightly lower offer (around 20 grand less, market value is around 550k in aud). Is this ridiculous? Not sure what to think. [link] [comments]  |
| Posted: 28 Jan 2019 03:52 PM PST My parents and I are looking to buy a home in the Los Angeles area, but the issue is that they are only able to qualify for an FHA loan and most places do not accept it. Would there be anyway for us to cosign and receive a more optimal loan? I have good credit (around 750) and would be a first time home buyer, but do not work currently (in college). They both work and have the down payment ready. Thanks for the help! [link] [comments]  |
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