Looking for stories. If you had an insurance claim greater than $1,000,000 what happened? Real Estate |
- Looking for stories. If you had an insurance claim greater than $1,000,000 what happened?
- Realtors, what do you do when there seems to be no comparables or homes sold recently to the subject property?
- Rent to Own offer, Never been through homebuying process, would like some guidance
- Correlation Between Home Price Increases and Rent Increases?
- Trying to Decide if I should Sell and Buy
- Borough trying to buy land for water.
- Do I have a play for a second home?
- Texas statute of limitations foreclosure
- Does anyone know what type of loan Fred Trump used from the federal government to build communities within Queens?
- Rental property fixtures
- Question: W-9 from a property manager. Is that needed?
- [seattle, WA] how hard is it to get a copy of the HOA or COA rules before we buy?
- How Can I Use This Property?
- Brokerage Realty
- Rural Area Assistance.
- Just Passed my PSI - Unique Situation and Looking for Advice
- Talk to me about fireplaces
- How do Commercial Real Estate Brokers operate in the United States? And what's the commission structure like?
- HELOC on Rental
- Are there incentives for buying a home with a spouse, over buying a home by yourself (single)?
- So my good friend pitched an idea to buy a home and use a rehab loan, then get a mortgage?
- Zillow Confusion
- Landlords Selling House I Rent
- Advice on Best Online Realtor License Classes
| Looking for stories. If you had an insurance claim greater than $1,000,000 what happened? Posted: 29 Jan 2019 12:13 PM PST Trying to decide how much insurance to carry liability wise. I currently carry $1M on all my buildings with another $1M umbrella, so essentially a $2M per claim liability insurance. So for those of you who've had a large liability claim, what happened, what's your story? [link] [comments]  |
| Posted: 29 Jan 2019 04:33 PM PST Can you turn it around as a positive to potential sellers? Any good resources you can recommended to learn about doing CMA's? I've been studying but would appreciate all the help I can get. [link] [comments]  |
| Rent to Own offer, Never been through homebuying process, would like some guidance Posted: 29 Jan 2019 09:52 AM PST My fiance and I just moved into a rental trailer. The landlord has made us an offer of renting-to-own the property. The land, the trailer, and the plot of land beside it for $50,000. No down payment, and from the sound of it, no interest. We are in Oklahoma. We have a short amount of time to make a decision, because there is another offer on the trailer. I guess I am just looking for answers on where to start in deciding if it is a good deal or not. I assume I'm going to want to get a home inspector to give an estimate on the trailer, and an estimated cost of repairs/renovation. Maybe an appraiser? Also, we are curious about if a loan could still be used in this case? Of course, we aren't sure that we would qualify for a loan anyway. What differences/pros/cons are there between rent-to-own and buying outright with a mortgage? Anything that we should look for or be sure is in the contract would also be helpful. Thank you in advance! [link] [comments]  |
| Correlation Between Home Price Increases and Rent Increases? Posted: 29 Jan 2019 10:23 AM PST I've been doing research into different areas in the US, and noticed that some places have had their home prices increase by over 70% in the last 5 or 6 years but rent has increased only 20%. I was wondering if there's any historical precedent relating to how these two are related? My assumption is that these two should be closer correlated and that either homes are overvalued or rents will increase. What do you think? Happy to hear any and all observations. [link] [comments]  |
| Trying to Decide if I should Sell and Buy Posted: 29 Jan 2019 07:56 PM PST Hey everyone, Just checking to see if anyone has been in a situation like this to see what they decided. I own a townhome I've lived in for 10 years. When I bought it, the market was at the absolute bottom and on top of that, I made about half of what I make now in income. The situation I find myself in now is that I own a townhome that is worth about $100k more than I owe on it (it's worth around 220k). I am considering selling it and moving into a SFH in the same area in the 300k range. I don't HATE my current living situation, and I don't NEED to move (i have no kids, no pets) - I'm just at the point where some things about townhome living annoy me enough to consider it (association, small garage, neighbors right on top of me, etc). I can afford to make this move, I'm just having trouble deciding if I SHOULD. I would prefer to be in a SFH for the reasons above, yet my salary (90k) combined with my low current mortage payments (about 1,000) means I have alot of flexibility with how I live my life. This would obviously get a little tighter as my payments would go up about $700/mo. Thoughts? Just having a tough time deciding what to do! [link] [comments]  |
| Borough trying to buy land for water. Posted: 29 Jan 2019 05:37 PM PST My family's farm is adjacent to a small town. They have been leasing the ground for over a hundred years for water. Now they want to buy the property where they have their water wells and are offering 1500 an acre. The assessment however only views the land as is and nothing to do with the wells they or what they use the property for. I don't think the grounds worth a mint but it seems like it's more valuable to them. If they were to have to go elsewhere it could cost a small fortune. This is in rural Pennsylvania. Thanks! [link] [comments]  |
| Do I have a play for a second home? Posted: 30 Jan 2019 01:05 AM PST Hey fellow Redditors, I'm pretty clueless when it comes to real estate. I'm wondering if you guys can enlighten me. I would like to purchase a second home to rent out, and I read that I can use my equity to achieve that. Here's my situation I purchased my house back in May 2015 for $440,000. My current mortgage balance is $321,000. Zillow estimates that it is now worth $650,000. Does this mean I have an equity of $329,000? If so, how much of that would a bank loan me to use as a down payment for a second home? What are my options here? (Income=9k a month, 50k rainy day funds) [link] [comments]  |
| Texas statute of limitations foreclosure Posted: 29 Jan 2019 07:00 PM PST Can a property be foreclosed in Texas if the second lien has not been paid in over 12 years? How do you go about a short pay off, if they keep bringing up the equity on the property now? Any advice is appreciated. [link] [comments]  |
| Posted: 29 Jan 2019 08:52 AM PST Getting more into real estate investing and looking back at historical real estate, and its tax season. I started learning about different state's Low Income Housing tax credits and I know Fred Trump used a different loan, but just out of curiosity does anyone know what loan did he use from the federal government to be able to build rental communities in Queens? [link] [comments]  |
| Posted: 29 Jan 2019 09:41 AM PST We are considering renting a house. The house does not currently have an oven or fridge. Because of this, the owner has priced it lower than market rent by about $200/month. We don't mind getting an oven and fridge because if we stay there a couple years the monthly savings is worth it if find decent used appliances. My question is; Isn't a stove considered a fixture? If we buy and install one will we have to leave it there when we move? Would this be something we'd be able to write into the rental agreement that we can take it with us or the owner has to buy it from us before we leave? [link] [comments]  |
| Question: W-9 from a property manager. Is that needed? Posted: 29 Jan 2019 03:22 PM PST Question for the group: I got a request from my property manager to fill out a W-9. Is that necessary??? I didn't work for them. They managed my property and pay me the rent collected. Why would they need a W-9? If I file a W-9then would that be considered a "job"? And I would have to file for federal and state income taxes. Have social security and other stuff taken out of the rent collected? This doesn't make sense right? Or am I missing something here? [link] [comments]  |
| [seattle, WA] how hard is it to get a copy of the HOA or COA rules before we buy? Posted: 29 Jan 2019 01:04 PM PST To keep this short we want to have the HOA or COA rules before we even put in an offer on a house because we have a 60lb dog and lots of COA/HOAs have pet weight limits. Any easy way to find this info out before we put in an offer or even close on a property? [link] [comments]  |
| Posted: 29 Jan 2019 08:45 PM PST So, my mother owns her home and wants to move to a smaller place. She wants to liquidate her home or rent it out. However, this is not very feasible. It is run down and she does not want to sell it for less than what she bought it for. So, it seems like selling is not an option. I do not think that the tenets she could get for this home would be the type to pay each month. We are open to any revenue ideas. We have considered starting a non-profit and writing for a grant to renovate it and a bunch of other ideas. We are also looking into grants for energy-saving renovations and on. We are open to all and any ideas. I was hoping to tap into the genius of Reddit to help my mother. She has some sicknesses that make her unable to work and her mental health cannot support high demanding lifestyles. I love her and I want to help her move into a small manageable home to give her a better life. Any suggestions would be greatly appreciated. My prayers are to you guys to help me. I am praying and searching every day. Thank you for any help/advice you can offer. Edit: My wife and I just got married and we are both full time college students with jobs all the way across the country. We travel there when we have money to help, but that is not often. [link] [comments]  |
| Posted: 29 Jan 2019 04:40 PM PST I apologize in advance if I have the wrong section, but I am new to Reddit. I'm going to be taking my Texas Real Estate exam soon and I'm not sure which brokerage to choose. [link] [comments]  |
| Posted: 29 Jan 2019 09:44 AM PST Hi guys I am wondering if any of you would know anything about government grants helping you to build a house in rural areas. I have heard about this from a few friends and was trying to find some information about it. I have been considering on building a house and I would love to stay away from bigger cities. Any information about the grants would be greatly appreciated! Thank you. [link] [comments]  |
| Just Passed my PSI - Unique Situation and Looking for Advice Posted: 29 Jan 2019 04:25 PM PST I am a fairly new investor/flipper, I have flipped about 10 houses in the past couple years and I'm working on $1 million+ property currently. (which was the reason for me getting my license). Yesterday I finally passed my PSI exam and of course I'm sure you can imagine how happy I was, however after talking to a few brokers and like minded friends, it seems like my best option is to work for a flat fee brokerage since I will be doing this part time, I have a full time job, and mostly for selling my houses but obviously if I can get some business, I won't decline. For those of you who are veterans in this field, what do you suggest, am I on the right track or should I look at bigger names like Long and Foster, Remax...? [link] [comments]  |
| Posted: 29 Jan 2019 04:13 PM PST I'm a buyer looking in an area where most of the houses I'm interested in have one or multiple fireplaces. All I see is cons - they limit the way you'd arrange furniture in a room, they're one more thing I need to childproof, they're dangerous, increase insurance rates, create worse heating/cooling efficiency, need be be cleaned/maintained etc. What am I missing here? Do most find them desirable? Are certain ones better than others - wood burning vs gas vs electric? If you own a house with one, do you love it or hate it? Would love to hear some opinions on this. [link] [comments]  |
| Posted: 29 Jan 2019 07:55 AM PST For Commercial Sales and Leasing, I'm curious how brokers operate. Is it similar to residential Real Estate an Agent who enters into an listing agreement (Exclusive or non exclusive) with the Owner to find a Buyer or lessee and may split the commission with the Buy side broker. [link] [comments]  |
| Posted: 29 Jan 2019 09:05 AM PST Hello, I met with a banker yesterday at M&T to find out options for a small business loan or a HELOC so I can begin searching for properties in the upcoming months. I'm just getting started with my education, but I've read about the BRRR and other methods of leveraging, so that's where I wanted to start. With an idea of how much money at what rate I have at my disposal. I currently have my primary residence that has 170,000 left on the mortgage and was appraised at 365,000. A second home appraised at 220,000 that is paid off and a occupied rental assessed at 120,000 that is paid off. So, I first asked about putting a HELOC on my rental, but was informed that banks dont put HELOCs on rental properties because the tenants could destroy the value of it. I was told my second home is too close to my primary residence for it to be a vacation home, so no HELOC there either. Finally, she did give me rates and an idea of a HELOC I could put against my primary residence. The HELOC on my primary residence would be enough for me to continue and whatnot, so that was the path I was thinking of taking. I'm just a little unsure because her information doesnt seem to mesh with what I've read around here. I definitely plan on meeting with a few other banks, but wanted to ask the opinion of this sub on both her information and the best course of action for me going forward. [link] [comments]  |
| Are there incentives for buying a home with a spouse, over buying a home by yourself (single)? Posted: 29 Jan 2019 01:37 PM PST I want to start the process to buy a home. But I'm also wondering if it would be more beneficial to wait until I'm married? Are there incentives or breaks for that? I'm in CA if it matters. I imagine I will get married in the next five years. I have an SO, and marriage has been brought up, but no formal plans yet. That's why I'm wondering if I should just wait. In the meantime, I want a house. [link] [comments]  |
| So my good friend pitched an idea to buy a home and use a rehab loan, then get a mortgage? Posted: 29 Jan 2019 07:18 PM PST I got a call from my "well connected" real estate friend. He's been an agent/investor/project manager for 30 something years. He knows that I'm looking for a home, but with everything starting at 400+k, knows I can't afford it. He told me that he's looking for a multi family to live in and that I could rent an apartment, or if I wanted to, buy with him. However he describes it a little crazy... Buy the cheapest fixer upper with 10% down. (I'm wondering why he said 10... so there some type of program?) Use the money of a "friend in the business" to gut-rehab (I'm assuming hard money loan?) Then take out a mortgage to cover everything. (Would that be a cash out re-if?) I tried to get more detail but he's a fast talker and super experiences in this stuff. Can someone help describe what the hell he is trying to do? I want to ask the right questions to get the right numbers/programs/methods involved. [link] [comments]  |
| Posted: 29 Jan 2019 06:35 PM PST Hello! I am ready to buy a house and, of course, I am using the popular Zillow app. While it's great to be connected to the housing market I have been thrown of off how hard it is to get a hold of a person. I'm also using a realtor but I still find issues. How many of you all have tried to connect to a "Zillow agent" and someone on the other side never reaches back out? I've lost 2 house to this. Any guidance and advising is warmly welcomed!! [link] [comments]  |
| Landlords Selling House I Rent Posted: 29 Jan 2019 05:12 PM PST I am on a year-long lease agreement with a real estate company in Bend, Oregon renting a house with two other people. Our lease ends March 31st. The owners have decided to sell the house, and the real estate company who we rent from, that manages the house is selling the house before we move out. They ARE honoring our lease so we aren't being asked to leave early. My question: is there anything we can do about this? They (almost) always give 24 hours notice when a client comes to see the house, but we are essentially taking time out of our busy days to let people in and out, as well as being expected to straighten up beforehand. But no fear, they chained a combination box with our house key to our front porch so people can let themselves in, whether we like it or not, if they give 24 hours notice. I feel disrespected. Wouldn't it be easier for them to show/sell the house if they just waited TWO MONTHS for us to clear out? They started this whole process a few weeks ago, and had 4-6 clients coming through our house at various times every day, until I suggested they just do an open house and get the showings out of the way if there is so much interest in the place (look at me doing these idiots jobs for them) and they actually received and offer during the open house which they accepted. The buyer backed out today, so looks like we are going to go back to having clients coming in and out of our house multiple times a day, starting tomorrow. Looking for any and all advice, if there is anything at all to be done! My housemates say, "Renters have no rights, they can screw us around all they like", but I don't think this is fully true..! Reddit, I need your help! [link] [comments]  |
| Advice on Best Online Realtor License Classes Posted: 29 Jan 2019 10:53 AM PST I am going for my realtor license in Pennsylvania. Taking courses online seems cheaper and easier. Any advice on companies to use or avoid? Thanks. [link] [comments]  |
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