50 Shades type house for sale! Real Estate |
- 50 Shades type house for sale!
- Is buying two houses with the VA loan feasible in on year? (X—Post from r/MilitaryFinance
- Closing on a condo next week and was notified of a leak
- Negotiating with the buyer
- Do Mortgage Lenders Care About How Many Deductions Are On My Tax Return?
- VA benefits selling a home in one state while looking to purchase a home in another state
- In Orange County, Florida, Opendoor tends to make about an $11,000 profit on each transaction, while Offerpad makes $19,450.
- First Time Investing In Property
- Waiting for tax transcripts from IRS - big mistake?
- Continue ?
- Purchase Process Questions
- Any thoughts on using a Loan officer?
- [MIAMI, FL] Can you purchase a house and rent out each room w/o occupying it?
- If something is out of code, does that void any liability coverage if something happens relating to that?
- Purchasing a House: Best Income-to-Expense ratio?
- Rental Property Growth
- Abandoned Home Theory
- I share a house with my brother because my grandma left it to both of us and he isn't participating in any of the renovations that will be necessary to make it rentable but feels he's entitled to half of the income. Am i legally obligated to share any profits that we make from renting our property?
- Why does Redfin sometimes have more detail (pictures) than Zillow?
- How should bond payment be split
- First time homebuyer's need insight into realistic expectations
- How can I get into real estate or at least get a head start as a teen?
| 50 Shades type house for sale! Posted: 08 Feb 2019 06:23 AM PST |
| Is buying two houses with the VA loan feasible in on year? (X—Post from r/MilitaryFinance Posted: 09 Feb 2019 04:36 AM PST Hey guys, Just wondering what the community thinks about buying two homes in one year using the VA loan. Our situation: E-5 making 36000/yr before BAH. $50k if you include BAH. Spouse is a former E-5 making around $12000/yr in medical retirement pay. Total before taxes is $62k/yr. She also plans to Lyft for extra income and she starts school Jan 2020 with her GI bill so she would be collecting BAH through that. I will have saved about $65k between an emergency fund, Roth IRA, and a taxable brokerage account by the time this all happens. I also have around $33k in TSP that I do not plan to borrow against but can in an emergency. I don't plan to use a down payment for the first home and possibly a small down payment for the second home if the VA funding fee can't be waived. What we want to do is use my spouses VA loan eligibility to buy the other half of my mother's duplex which just got remodeled with tons of work done (lots of repairs split between my mom and the current owner). The deal he offered is $255k for us but he plans to put it up on the market for $295k. He's good friends with my mom at this point so I'm trusting him and the deal he's offering seems fair for the local area. What we would like is to purchase using her eligibility with 0% down (va funding fee waived for disability) and have her live there with my brother and the tenants he currently lives with in order to "house hack" for a few months until I get orders to my next duty station later this year. The next step would be to purchase a house where I'm stationed and use my orders to break the primary residence requirement on the first house, then fully rent it out. The catch is I technically go to MOS school where I will likely be stationed and it's a long lateral move school so I had to PCS here. Would PCA orders work for this situation since it is technically up in the air where ill be stationed? If so I'd like to use my VA loan eligibility to purchase the home where I'm stationed and then she could move here while we rent out the home she purchased. I have no idea what the price would be for the second home at this point but the area I'm in have very nice homes for under $200k with no county taxes. That's about all I know at this point. TLDR: 1) Can I get a VA loan for one house my spouse is living in in another state and use PCA orders to break the primary residence requirement to purchase a home at my current duty station so she can live with me? (Both of us have VA eligibility) 2) Do you guys think this is feasible for us financially? If not what are some things I'm not thinking of that makes it not doable. Thank you if you took the time to read the whole post I know it felt long. [link] [comments]  |
| Closing on a condo next week and was notified of a leak Posted: 08 Feb 2019 08:29 PM PST Hello, I am closing on a condo next week with the inspection already being complete. The appraisal was also completed and the loan is finalized. I've been having lots of contact with the condominium association to make sure everything is square for me to move in right after close. Yesterday they called me to notify me that my unit had a leak and to see if they could get in touch with the seller. [link] [comments]  |
| Posted: 08 Feb 2019 09:35 PM PST Buyer of our house offered $2k less than listing and requested we pay $7k towards their closing...we countered at list price and $7k towards closing and they accepted... Fast forward to the inspection...there were some notable items they want fixed, the biggest being install a new roof. A few of the other repairs seem small but they were requested as well... also, buyers got a quote to replace roof and demand that we use that company only...seems fishy... their price for replacement is actually competitive. Now the roof needs replaced, I know...the thing is, these people are getting $7k in closing, want a $5k roof, and SIX other additional items. Would you tell them to kick rocks, get the roof replaced, and then just relist for higher or go through with the deal and replace just the roof? The other items are petty and can easily be done by most anyone but it says must use licensed contractor (for a wax ring on toilet, install pressure relief downspout on water heater, new dryer vent under crawlspace, paint access door) These buyers are already invested in the house...they've got the inspection, appraisal, and land survey done already. They also have to close by the first of March because that's when their house closes. [link] [comments]  |
| Do Mortgage Lenders Care About How Many Deductions Are On My Tax Return? Posted: 08 Feb 2019 07:03 PM PST I'm trying to buy a house and am wondering if the mortgage lenders/banks care about the ratio of deductions-to-income on tax returns. For example. If I make $50,000 but have $20,000 in expenses, will banks see my eligable income to qualify for a mortgage as $30,000? Or would banks/lenders rather see $50,000 income with 0 expenses/deductions? Or does it not matter at all? Thanks! [link] [comments]  |
| VA benefits selling a home in one state while looking to purchase a home in another state Posted: 08 Feb 2019 05:54 PM PST We are really wanting to move back to our home state but currently have a VA mortgage on our current home. We have some money set aside to fix up our current house to sell it but would like to purchase a home while it is on the market. Which means we don't really want to pay a big down payment on another house and would like to get a second VA loan. Of course our current mortgage would be paid back with the sale of our house but we don't really understand how to time this or if it's even possible to take out a second VA loan.. I'm sorry if this is the wrong place to post this but does anyone have any guidance for this situation? Thank you! [link] [comments]  |
| Posted: 08 Feb 2019 10:50 AM PST I know there are some costs from the transactions, but it is interesting for the iBuyer trend.
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| First Time Investing In Property Posted: 08 Feb 2019 08:32 PM PST Hey r/RealEstate, Possibly trying to invest some property with a friend of mine, wanted your opinion on if this seems like a good idea or not. We'll be able to put down around 120k between the two of us (basically get the 20% down to avoid PMI) Prices of the houses we want to buy are in the 600k range. I've looked into the price of mortgages (haven't been pre approved for anything) but the ballpark price will be around 3k with property taxes included). Essentially we'd be able to rent out the place with a little bit of profit/almost breaking even, everything in the neighborhood rents out for 3k+ Now here's where I'm not sure if its worth it considering I haven't owned a home. Since we won't be living in it because it's not an area that we would like to move to (or at least at this point in our lives) is it worth it to rent it out and build up equity? Or will the costs of owning a home, maintenance, etc. negate any benefit. I've crunched some numbers and the return on the 60k I would initially have to put down will have a return between 10 to 15% (this is factoring unexpected maintenance costs) The long term plan would be in the next 5 or so years either pull out an equity line or sell it and put a down payment on a place that I will actually live in. I plan to just rent in a different area within the city while we have tenants pay the mortgage. Any feedback would be greatly appreciated! [link] [comments]  |
| Waiting for tax transcripts from IRS - big mistake? Posted: 08 Feb 2019 02:25 PM PST Hi, first-time home buyers here (my spouse and me). I'm afraid we might have screwed up. We signed an IRS form 4506-T Request for Transcript of Tax Return that our lender prepared for us. It has my spouse and me listed on the same form, as joint filers. We just got married last year, so we actually filed single in 2016 and 2017. It seems obvious to me now that we should have each filled out our own form - is that right? Ugh, I feel really stupid about not mentioning that to the lender at the time. The lender knows we had just gotten married but maybe he didn't think of it, either. The lender submitted the form to the IRS on January 24. It's now 2+ weeks later and no word from the IRS. What should we do? Ask the lender to resubmit to the IRS? Any ideas on how long this will take, especially with shutdown and being in tax season? We are supposed to close on 2/15. Thank you!! [link] [comments]  |
| Posted: 08 Feb 2019 07:03 PM PST Long Story short I put on an offer on a fairly newish 2017 house which was accepted and the house inspection found a few issues. Some of which the home inspector was baffled it even passed inspection in the first place. For example, under the main landing they only used joist hangers on some of the joists and one header was not supported by a bearing post. The seller went back to the builder who agreed that they missed a few things and fixed them. The main problem is we noticed there were leak marks on the garage ceiling and my home inspector couldn't get up into the garage attic as there was no attic hatch. The builder replies he found no evidence of a leak and the attic in the garage doesn't need an access hatch. My realtor found by law it's supposed to have a hatch and what has probably happened is some snow came in to a vent and melted (it was a warm day we had the inspection). We decided to amend the agreement for them to put in a hatch and fully investigate the leak and just waiting on an answer currently. Realtor is hinting that even though it's probably not a big deal overall and I am under the Tarion Warranty that if we are running into these kind of issues now what other problems will I encounter down the road and I should maybe think of walking away. Strange part is the builder has been around a LONG time (over 35 years). [link] [comments]  |
| Posted: 08 Feb 2019 05:14 PM PST We are currently in the process of looking for a house which we will be using a va loan for the mortgage. On our first meeting with the real estate agent we talked about the entire process from putting the offer to the closing. At one point he mentioned something about we bring our lawyer to meet the sellers lawyer to write up the contract and all the details. I should have asked him but I don't understand what is the point of the lawyer. Do I have to find a lawyer that will help me with this? What is the specific point for the lawyer? Is the lawyer a mandatory thing? If it's not what could go wrong if I don't bring a lawyer to the mix? What's the average cost of a lawyer for this transaction? Thanks [link] [comments]  |
| Any thoughts on using a Loan officer? Posted: 08 Feb 2019 05:00 PM PST Our realtor is really pushing for us to go with her preferred loan officer but I'm having trouble seeing the point. We're already pre-approved by Navy Federal and we've had a great relationship with them as a bank. The loan officer claims she will be able to close on a sale much faster than any bank, which is important as my wife is very pregnant and we are in a hotel! Any thoughts would be appreciated [link] [comments]  |
| [MIAMI, FL] Can you purchase a house and rent out each room w/o occupying it? Posted: 08 Feb 2019 04:55 PM PST Hello all, I've become interested in Real Estate over the last couple of months and have been doing my research on the subject. I'm in the process of crossing my t's and dotting my i's. I have a question that isn't explicitly answered in any of my research. Can you buy a house and rent out each individual room if you're not living there? I see situations where people do rent out their extra rooms, but they're still living there. I haven't seen or heard of anyone simply buying a house and renting out each individual room without living there themselves. Say you buy a 4 bd/2ba house. Can you then create 4 different leases in order to rent out each room? Are there any laws against doing so? I've read up on single family residential zoning but I haven't seen anything prohibiting what i'm proposing. As far as you all know, is this legal? Please and thanks in advance. [link] [comments]  |
| Posted: 08 Feb 2019 10:23 AM PST Home inspection revealed steps are out of code (steps too high). Wondering if deliveryman were to trip and sue us if liability coverage would still cover it. [link] [comments]  |
| Purchasing a House: Best Income-to-Expense ratio? Posted: 08 Feb 2019 04:20 PM PST I'm trying to purchase a house under $100k in South-West Florida. I have an income of $28k and am trying to figure out what the best expense-to-income ratio is on a tax return so that I can get approved for the highest mortgage possible. Any help or advice is appreciated. Thanks! [link] [comments]  |
| Posted: 08 Feb 2019 12:03 PM PST Hello. I purchased a duplex a little over a year and a half ago and completed renovations just recently and am looking for tenants. I am curious as to what a general guideline is or consensus for purchasing future investment properties. Are multi family homes suggested for people starting out that way you can "house hack"? How does the financing on the second property go if you still have a mortgage on the first one? I know at that point it's considered an investment so it moves away from the standard mortgage process. [link] [comments]  |
| Posted: 08 Feb 2019 02:55 PM PST Long story short, house down the street in a nice subdivision (No HOA) was abandoned months ago. Owners pulled up a moving truck and gone the same day. All taxes paid, same owner 10 years, no foreclosure in court records, not on MLS, no rental signs, power and water turned off, broken window, grass not mowed, etc. Has anyone ever experienced this and what's your story, if not, any theories? Appreciate any insights. [link] [comments]  |
| Posted: 08 Feb 2019 11:00 AM PST |
| Why does Redfin sometimes have more detail (pictures) than Zillow? Posted: 08 Feb 2019 07:42 AM PST I just noticed the exact same house had more pictures listed on Redfin than Zillow and also Redfin updated that the sale was pending quicker than Zillow. It was a foreclosure if that matters. I use Zillow and very rarely any other site like Redfin or trulia but now I'm wondering if I should be using something other than Zillow. [link] [comments]  |
| How should bond payment be split Posted: 08 Feb 2019 01:08 PM PST Sorry if I'm posting in the wrong sub, I'm just not sure where this question belongs! I'm about to move into a sharehouse with four mates (one couple and two others), what are your opinions on how the bond should be split? Should it be per room or per person? Thanks :) [link] [comments]  |
| First time homebuyer's need insight into realistic expectations Posted: 08 Feb 2019 09:43 AM PST Going to keep it short. Buying a 3/2 built in 1952 remodeled in 1978. on the market for 149 we offered 140 and they accepted. House was appraised for 145. Post inspection we found WDO issues, in need of a roof and has water leaking under the house into the foundation. Roof is quoted at 10k Plumbing is 9-10k electrical is 600 WDO is 1k We understand an old house has character (issues) but is it unreasonable to ask the seller to cover either the plumbing or the roof? We have no problem walking away if they won't budge. Is it fair to assume that other buyers will share the same views as us? their realtor has made it clear they think they can sell this house for asking price no problem. Any insight and advice is greatly appreciated [link] [comments]  |
| How can I get into real estate or at least get a head start as a teen? Posted: 08 Feb 2019 05:45 AM PST |
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