Land around California state university Los Angeles? Hollywood and Beverly Hills? Real Estate |
- Land around California state university Los Angeles? Hollywood and Beverly Hills?
- Investing in a house with my brother. What should we be cautious of going into business together?
- Do I make enough to be a homeowner?
- Cash buyer, no mortgage?
- Online real estate classes?
- Buying 1st home, working a cash job
- Questions about buying a new home - USDA / Less than 2 years
- My husband and I live in the UK, but what could we afford where you live?
- Is it better to rent or buy? There are of course a lot of determining factors, but what are those factors you find+
- I can't remember that website with listing data. Help me remember? (Los Angeles, CA)
- 22 years old, looking for a house with some land in Texas
- What should a first time buyer know before buying on a golf course?
- Payoff mortgage early
- Can I Get A Second FHA?
- Buying my first house
- Want to sell/rent condo out in the next 6 months.
- Investing in Colorado
- [Bay Area, CA] Does it even make sense to refinance?
- Looking for advice - First purchase a good investment if I don't LOVE the house?
- Asking for carpet allowances after home inspection
- Please assess my situation with advice for strategy forward?
- Book on construction of houses/buildings
- LLC or no for 5 units?
| Land around California state university Los Angeles? Hollywood and Beverly Hills? Posted: 06 Jan 2019 08:14 PM PST Hey y'all So I'm seeing small plots of land around that area from 70k-170k. Anywhere else in the country this is ridiculous but seeing around LA it's kinda out of place. I'm guessing for Hollywood and Beverly Hills there's no utilities and you can't develop there? For the CSU there's a lot of homes around, but I'm guessing that land is subject to mudslides and I'm also guessing cost of new home building must be above the cost of buying? I'm curious that seems like all the houses out there are crazy expensive imo but if you built new you'd probably get a great ROI? [link] [comments]  | ||||||||||||||||||
| Investing in a house with my brother. What should we be cautious of going into business together? Posted: 06 Jan 2019 02:50 PM PST Investing in a home with my brother to rent out. We've heard stories of ventures like these breaking families apart. We'd like to come up with an agreement ahead of time to avoid those sort of disputes. What should we be cautious of in particular? What kind of things do we need to think through? [link] [comments]  | ||||||||||||||||||
| Do I make enough to be a homeowner? Posted: 06 Jan 2019 07:12 PM PST I am a 26F living in the northeast in a medium sized city where home prices are very reasonable, but even though I'm not one to care, the neighborhoods where a single female could feel safe walking into downtown are limited. Walkability and being close to downtown are very important to me personally. I moved here for this city's downtown, so a suburb or far our neighborhood won't do. I have been very content for 3 years in my current apartment. It is beautiful, close to work, walkable to most things, VERY reasonably priced. I want to own my own place for various reasons: lived with roommates for a while now, about 5 over my time here, finding new ones is an annoyance when one leaves, want to be able to modify my space (DIY projects, smarthome, potential electric car charger), parking is not guaranteed, no room for doing special projects like sanding furniture, I'd rather put money into something I own, have space for visiting family and friends to sleep over, have a little more privacy, get a dog and have small yard for dog, etc. I currently make $63,000 before taxes. After taxes, I make $1,700/biweekly after health insurance, 401k, etc is taken out. My work also pays for most of my phone bill and garage parking for work which adds about $2300 of extra value. My job is secure and I see it being steady for as long as I wish. Or as long as I don't fuck up. My current expenses are as follows per month: Car - 155 | Car Ins. - 150 | Phone (after work stipend) - 20 | Rent (incl. utilities, Wifi, laundry) - 840 | Gas - maybe 60 max, depending on leisure travel | Subscriptions - 35 | Food - idk, I gotta tone down eating out, flexible I currently have $7,000 saved and may be receiving a decent $3,000 tax return soon, going right into savings. I have been looking for houses, condos, etc. for a few months and today saw a 4br, 3ba for the lowest price I've seen in this perfect walkable, safe location - $209,000. Zillow estimated mortgage would be $1,450 including PMI (would only be able to put down 10% max), principal, insurance, prop tax, etc. the house is a foreclosure but move in ready but could use some personal touches and I am very fortunate to have a father who is itching to do some DIY. Is this doable or am I going to be stretched too thin? I will most certainly immediately drain my entire savings of 10k in down payment and closing costs alone. Basically, is this stupid/too much house to do as a single person? I want to be logical with everything, but I also overthink. For perspective, another place I looked at and almost put an offer on was a 2br condo for $160,000 where the $300 HOA meant it would still end up around $1,450 per month. Having a roommate there for $750 meant I'd end up paying around what I do now for rent. If I got a 4br like this, I plan to have at LEAST 1 roommate move in which I could likely get $750min for, plus split utilities. The bedrooms are smaller so 2 roomies may be a stretch but there is definitely potential and a huge unfinished basement that could maybe be rented one day? That would cover my payments entirely. I am also trying to find out info on tax implications of renting rooms. Any insight is extremely helpful to my back-and-forth brain. I'm very new to all of this and trying to not screw my future self by taking on too much, but I am honestly scared of missing a great opportunity. I do love this house and would be so proud to own it. Thank you for reading! Edit: number change [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 12:48 PM PST 1 argument i always hear against paying cash for a home is the missed opportunity cost of investing the cash in the stock market for a better return. If this is true why don't you hear people refinance their homes to take equity out to invest in the stock market? [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 07:51 PM PST Hello there, I'm looking to become a real estate agent particularly in California. I've been trying to research online schools offering the full 135 hour 3 class requirements and I'm having a difficult time discerning the most reputable and comprehensive as most of the reviews I've found online come with affiliate links. So, who has taken their real estate curriculum online, what school? And why would you recommend to go with (or stay away from) that particular school? Thanks in advance! TL;DR: what's the best online CA real estate school? (Edit): I typically learn best from a combination of video lessons and text [link] [comments]  | ||||||||||||||||||
| Buying 1st home, working a cash job Posted: 06 Jan 2019 07:35 PM PST Hi everyone. I am so tired of renting. I'm married, husband is a sole contractor. I am a painter. We both work 40+ hour weeks, but he hasn't done his taxes in 3 years and has a repo coming up. He is very irresponsible when it comes to keeping track of his income, and when I try and help, it's impossible to get all receipts etc...from him. He's disorganized and a procrastinator. I was working with him, but wasn't getting paid necessarily directly. I have no idea how we have survived this long without doing things the right way and I'm sick of it. I am now working with another painter, but I get paid in cash. New boss doesn't cut checks, so how do I prove my income in order to get a mortgage? I want to do this on my own without him on any paperwork since he's a mess. I haven't had to file taxes these last couple years because I haven't had steady work until recently. I need to start to get this rolling, but I have no clue where to begin. Please help without judgements. I'm trying to get out of this. [link] [comments]  | ||||||||||||||||||
| Questions about buying a new home - USDA / Less than 2 years Posted: 06 Jan 2019 04:56 PM PST We're not sure if this is possible. I'm exploring the idea with a real estate agent, tax professional and mortgage lender, but wanted to hear your thoughts first. I moved to another state and got a USDA mortgage (zero down) on a house that was $264,000. With closing and everything, it ended up becoming around $273,000. Fast forward to now (11 months) and the wife and I are considering moving closer to town due to a variety of personal reasons. We know we are under the 2 year rule for capital gains. Utah's market is crazy and our neighborhood/home has seen pricing go up. We're being estimated around $290-$300 now. My questions are as follows..is it even possible that we sell and buy a home closer in town, given that we gave no down payment, our equity is only with how much the price has gone up, and less than 2 years? Is this uncommon? Is it wise? I'm aware of potential costs when it comes to the fees, closing, commissions, but just not sure of the full extent of what that would do? Would a lender even find a type of loan that would fit our needs? If the fees/closing eats up all the gains and have no equity left, could we still be able to buy another home in a like-kind exchange? If this isn't possible, what action plans can my wife and I take to ensure we have a roadmap for buying a new home in the near future? Sorry for the stupid questions. Just a bit confused and need some advice on the whole thing. A bit indecisive right now. Thanks in advance for the help. [link] [comments]  | ||||||||||||||||||
| My husband and I live in the UK, but what could we afford where you live? Posted: 06 Jan 2019 09:22 AM PST Hey all! So my husband and I are in our late twenties and work for a private country estate in the south of England. We live in a two bedroom house with our two spaniels and have always wondered what we could potentially afford in another country, most notably, the USA. our mortgage is £880 ($1,120) per month with an entire house cost of £255,000 ($325,000) With this in mind, could I trouble you to show me what we could afford where you live? We'd love to have more space and land for our dogs. [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 08:09 AM PST Most important? Thought it would be a good discussion on this sub! As I hear so often from clients I work with the never ending dilemma of renting vs buying. I know there's a lot of who think Real Estate, overall, isn't a wise 'investment' because the market is always up and down. I'd like to think that it is, but curious to hear this boards thoughts! [link] [comments]  | ||||||||||||||||||
| I can't remember that website with listing data. Help me remember? (Los Angeles, CA) Posted: 06 Jan 2019 02:47 PM PST It basically scraped the MLS and found properties that were generally undervalued because the homes were in poor condition. I don't remember if it worked for markets across the country or for surrounding counties, but it worked for LA county. The website was formatted in such a way where it presented the data in a list/gallery format with picture, address, and price. I don't recall the use of a map like Zillow or Trulia. Thanks. [link] [comments]  | ||||||||||||||||||
| 22 years old, looking for a house with some land in Texas Posted: 06 Jan 2019 07:08 PM PST So I would like some advice. I live in Houston, Texas and I am looking to purchase a house with some land. My mother is trying to get a joint application with myself, given that the house we purchase has enough land to put a mobile home on it and we split the cost of the morgage. That way we dont live together but can help each other save money. Im very unclear on how loans for houses work. A while back I tried to get approved, and I think I did get approved for 3k down, 170k max at 5.7% interest rate. It seemed high at the time so I decided to just wait. Not sure what the ideal situation is for a getting a loan, currently making about 45k a year, although I hit 60k in 2018, have only worked at that job about a year and 2 months because I was part time worker/student before, monthly expenses as of right now are about $1100. Credit Karma says (Transunion) 668 9k/30k used, no negative accounts, 13 hard inquires, (Equifax) 640 9k/30k used, 1 negative account and 19 hard inquires. My mother has (Transunion) 628 0/5k used, 5 hard inquires, 2 negative accounts, (Equifax) 634 0/5k used, 9 hard inquires and 1 negative account. She makes about 40k a year. Worked at her job for about 3 years. I would appreciate any insight on what types of loans we could get, what is best, and how to get a better loan. We are both First time home buyers. [link] [comments]  | ||||||||||||||||||
| What should a first time buyer know before buying on a golf course? Posted: 06 Jan 2019 10:37 PM PST I am looking to buy my first home and found the perfect home and exactly what i'm looking for but it happens to be on a golf course. I always strayed away from even looking at homes on a golf course because I assumed it would be a lot pricier and have some crazy fees. This wasn't the case here! This house is on a very new course <2 years and the neighborhood is still "in progress". Which means fees and all that are surprisingly affordable (although I am guessing they will skyrocket in a few years?). HOA is only $225 a year. What are some things I need to know about buying on a golf course? I would have to have special insurance right. How much more does that typically run a year? Any drawbacks/downsides etc. [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 09:49 AM PST We live in the Bay Area. I'm 59 and my wife is 62. Our Zillow home value is $1.5M. Our remaining mortgage is $350K at 3.25% interest. We have 1.5M in 401K savings and another $350K in tax free cash account that we can use to pay off the mortgage. We purchased the home two years ago. If we sold the home today we would pay $0 capital gains. My net income for the next 5 years will be $250K+ and expect to have $2M in retirement savings in 5 years if we continue to contribute $48K per year into my 401K. My wife does not work. I would like to retire at 65 and expect to make $175K per year in retirement from passive income, SS and 401K. I do not want the headache of owning investment property and will not have the stomach and stress to invest more than 50% in equities as we reach retirement. My question is should we pay off our mortgage so that we can peace of mind? [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 02:24 PM PST Hi all. Looking to make the move to Texas from New Jersey. We took out an FHA loan with a 3.5% DP to buy our current home. Now we're looking to relocate and purchase a home in the Dallas area. Do I need to sell my home and pay off my current FHA to take out another one or can I take out a second one and immediately pay off the first once I sell my NJ home? Searching online is yielding some conflicting results so hoping to get some answers here. Thanks! [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 11:57 AM PST Been looking at houses on Redfin. Am I making a mistake using a redfin agent or should I find someone else? Also should I have a lawyer during this whole process? Sorry, I'm a newbie. [link] [comments]  | ||||||||||||||||||
| Want to sell/rent condo out in the next 6 months. Posted: 06 Jan 2019 09:02 PM PST Some background, bought condo last year after I had moved to a new state for work. I am planning to move closer to home sometime before/during the summer and would like to use the condo either as income or just selling it outright and pocketing the cash. I bought it in May for 78k, got a good deal with a friend for bathroom renovations that cost me 4K total. Condos like mine are currently fetching 78k with basic bathroom(price has been stable). I fear not being able to find a consistent tenant or not being able to sell and being stuck. What would the best path be? Note I would be living 1500 miles away, once I move. And my current downstairs neighbor hates me for noise. Thank you [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 10:16 PM PST Obviously a tough market to find value in if you're trying earn rental income. But I'm wondering if there are any areas in Colorado that are reasonably affordable by Colorado standards. [link] [comments]  | ||||||||||||||||||
| [Bay Area, CA] Does it even make sense to refinance? Posted: 06 Jan 2019 01:30 PM PST Hello! As you guys may have noticed, mortgage rates dropped a bit on Friday. Our loan officer texted us yesterday about refinancing, reducing our rate by 0.125% from 4.375% to 4.25% with no cost/no fee. She will give us credit at closing to cover all the cost including appraisal (about $3,700 total in credit). Our remaining loan amount is about $795,000. Our current payment is about $4066 a month. I did my calculation and the numbers look like the following: Loan amount: 795,000.
I'm unsure if it's worth it to refinance for just 1/8 of a percent as it will push out the estimated pay off date. I'm in my late 20s and I'd like to have the mortgage paid off by the time I'm 60. We're also have been paying an extra $1500 to $2000 a month towards the principal, trying to shorten the loan length. We plan on continuing to pay extra towards the principal every month. Does it make sense to refinance? What should we look out for? My other concern is losing money for appraisal fee if the house appraise a bit less & we decide to not refinance. Thanks! [link] [comments]  | ||||||||||||||||||
| Looking for advice - First purchase a good investment if I don't LOVE the house? Posted: 06 Jan 2019 10:39 AM PST So I found a unique opportunity in a growing part of a really hot market (LA). A house and a storefront. Two separate units on one parcel. Both are definitely livable and could each garner 3800-4k in rent per month easily as just a residential rental. However, I work in film and work from home. I have been flirting with the idea of using the storefront as an office with a couple people (charging them rent) and living in the home. It's zoned as residential, but this would be a very low-profile, non-destructive operation so I don't think that'd be too much of an issue. The kicker is, we don't LOVE the house, but we could make it work for sure (my wife and I). We can afford to pay (as stated above). Ideally we'd have both of these units for 5 years, then buy our dream house, keeping these other units to rent out. Has anyone done anything like this, particularly buying a home you don't LOVE because it's a great investment to set you up in 5 years for a dream home scenario? [link] [comments]  | ||||||||||||||||||
| Asking for carpet allowances after home inspection Posted: 06 Jan 2019 03:13 PM PST Initially did tour of home, offered 245k on a home listed for 269k with seller paying 5k in closing. The house had been up for 200 days and they immediately accepted, no counter. During home inspection all the furniture was gone and we now saw very visible large stains all over the carpet. Theres 1500 sq ft of carpet alone and I say at least 35% was covered in brown stains we could not previously see and it's in all carpeted rooms. I'm already asking for 2k for other issues such as roof moisture damage, etc. I really want 4k for carpet as well. My agent is saying we should have asked for carpet on the initial offer as it isnt the norm post inspection. But I really dont want to live with nasty brown stained white carpet. I understand this is a chunk of money but I feel decieved that 95% of the stains were hidden by furniture. First time buyer, is asking for carpet allowance post inspection really that big of a deal? [link] [comments]  | ||||||||||||||||||
| Please assess my situation with advice for strategy forward? Posted: 06 Jan 2019 09:37 AM PST Home 1 - rented at $2k/mo, 15yr mortgage is $1700/mo, estimated value is $275k with $170k left on mortgage. 2600 sq ft right outside of downtown. Older house but fully renovated in 2016 besides plumbing (I need to check on plumbing health). Home 2 - We are occupying costing us $1700/mo, estimated value is $315k with $250k left on the 30yr mortgage. New construction in 2017 and low maintenance. 1100 sq ft downtown but probably big enough for 1 kid coming soon. Our family is growing so we are considering selling all and upgrading slightly, buying a slightly upgraded third and keeping the others and everything in between like: selling Home 1, renting Home 2, and buying a new home. We live in the RDU area which has seen great growth since we first bought Home 1 in 2015 for $7k down (FHA). That has turned into almost $100k now in equity. During that time, we also had my brother live with us, so we were also paying below market rent. I'm also a little worried about a possible recession upcoming and the market slowing down. So, we could lock in our profit on Home 1 and sell but then we're paying capital gains on top of realtor fees. I know the cash flow isn't great on Home 1, but because its a 15yr loan, we are also essentially "saving" $1k/mo in equity on the payment. There are so many ways to think about this situation and possible ways forward. I want to stay smart and objective and avoid ending up like everyone else in $500k houses with 30 yr loans but of course there are risks to what we're doing (and headaches with landlording). Part of me likes the idea of putting Home 1 and 2 with a prop mgmt company and buying a 3rd, but that's also adding even more risk. Is there any obvious answer/advice to this situation or better way to think about it? It can be hard to stay 100% objective when you're deep in it. [link] [comments]  | ||||||||||||||||||
| Book on construction of houses/buildings Posted: 06 Jan 2019 10:17 AM PST I want to learn about the construction of houses in my spare time. I really want to understand how houses are built from foundation to roof to electrical etc., with all different techniques covered (e.g. wood framing, masonry, concrete, ...). Does anyone know a good and complete book to learn about that? I would really like to start investing, buying some houses and fixing them up but first I want to fully understand how houses are built. Thanks in advance for your suggestions! [link] [comments]  | ||||||||||||||||||
| Posted: 06 Jan 2019 01:40 PM PST Hey guys I know this question has been asked before, but everyone has a different scenario which can tilt a decision towards one end or another. Also, while many people claim an LLC can protect your assets, many others claim it is the insurance that is important and that an LLC is false security. Anyway, i have a triplex and a duplex and I have been thinking about opening up an llc and transferring over the properties into it. There are alot of conflicting variables, here are some questions that I would appreciate answers to from someone that is more knowledgable than me
The transferring of deeds seems like the biggest hassle. I'd imagine i would keep the properties in my name so I can do the financing easier. At that point, what is the point of an llc if the properties are not even in your name? I live in west michigan and again, any help is much appreciated. [link] [comments]  |
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