That feeling when you accidentally schedule your open house the same afternoon as the Superbowl. (Not a sports fan, had no idea.) Real Estate |
- That feeling when you accidentally schedule your open house the same afternoon as the Superbowl. (Not a sports fan, had no idea.)
- First Time Homebuyer: When is the listing history itself a Red Flag?
- Including furniture in purchase price?
- Is RP Funding Legitimate?
- ELI5: A real estate license means what?
- [help] When should the EPC be presented on an off plan sale?
- Different house measurement on different realestate sites?
- Property taxes when building a home
- First time buyer, received a counter I like from the buyer...am I looking solid to get the house?
- Agents, what is the limit for assisting someone who wants to sell their house when you don't have a license?
- Buyer did not do inspection within 7 days and now requesting me to fix the house
- Is getting a rental property a bad idea?
- ERP and CRM for real estate development
- Husband and I are looking for a townhouse for our growing family. This awesome house just came on the market. It’s 263k dollars. Would it be crazy if we offered 200k for it? It’s listed as short sale.
- Rather new to this subreddit, had a couple questions
- What are qualities in a good Real Estate Agent has that Investors look for?
- How was your experience with your home being taken over by eminent domain?
- I am interested in investing in land for timber...thoughts? Tips on finding the best property?
- Home Possible income limit and using rental income to qualify questions - looking to buy multifamily in Chicago
- Equity split on possible flip or long term hold
- As a first year graduate student in dental school, is it possible to get private loans to purchase property?
- Let's Hear Innovative Development Ideas
- Financing on a foreclosed home that has been vandalized.
- [FL] Sold a home in May 2017. Current homeowners having septic tank issues and called my real estate agent planning to sue. Should I be worried?
| Posted: 02 Feb 2019 01:14 PM PST |
| First Time Homebuyer: When is the listing history itself a Red Flag? Posted: 02 Feb 2019 09:41 PM PST Hi all, FTHB here. So we've been looking around for a few weeks, and found a place that seemed good, good neighborhood, and priced in our budget. We toured the house, though not as slowly as I'd like, and didn't see any major issues that stood out, or signs of damage. We were getting to talk about making and offer, until the in-laws in-laws (who have "involved" themselves with the process) poked at the Zillow history. Basically, in 2017, the house was listed as "pending sale", only to be re-listed on the market at the same price a few days later, three separate times over the span of a couple months. Eventually they found a buyer, and now that buyer is trying to sell the place just one year later at the same price they bought it for. Is there some other plausible explanation than the bad-sounding situation that it implies where it failed an inspection 3 times, 4th guy's inspector missed the red flags, and now they want out because they're trapped in a nightmare? Is this a house we should move on from? [link] [comments]  |
| Including furniture in purchase price? Posted: 02 Feb 2019 10:09 PM PST I am a buyer countering the sellers counter. This puts me above what my budget was, however the sellers are moving far away and have more furniture than they would like already in the house. I was thinking of adding a contingency to include certain furniture items through the house so that could save me money from purchasing my own and close the price increase gap. Is this something that is ok to add and wouldn't be too weird to include? How should I word it. [link] [comments]  |
| Posted: 02 Feb 2019 07:51 PM PST Has anyone ever used this "no closing costs!" lender on a purchase? It sounds too good to be true. The site says they can do it because they don't pay big commissions, and they aren't recovering costs through higher rates. [link] [comments]  |
| ELI5: A real estate license means what? Posted: 02 Feb 2019 07:07 PM PST I have about a year of downtime ahead of me and I'm considering using that time investigating rental properties. My first thought was, "I'll get a real estate license so I can do things myself instead of paying an agent." My second thought was, "I don't know what that even means." Can someone explain to me, as if I were 5 years old, what exactly having a real estate license means? [link] [comments]  |
| [help] When should the EPC be presented on an off plan sale? Posted: 03 Feb 2019 02:37 AM PST Reservation has been made already, the PSPA is being reviewed, but no EPC yet. Am I being paranoia or should this be presented already? [link] [comments]  |
| Different house measurement on different realestate sites? Posted: 02 Feb 2019 08:34 PM PST My family is buying a house thats around 2700 sqft. On Zillow, it says that the house is only 1900sqft. Different sites has it listed as both 1900 and 2700sqft. Spoke to our agent and he assured us that it is 2700sqft and that it says 1900sqrt on some sites because when the owner was measuring the house, it forgot to measure the basement. This sounds a little bit sketchy so I thought I would ask. What do yall think? [link] [comments]  |
| Property taxes when building a home Posted: 02 Feb 2019 05:35 PM PST In Houston HCAD typically assesses value sometime in Feb/March. I am currently building a have it slated to begin at the end of February with completion end of June. My question is how will the county assess taxes for the year? Would it be based on simply the lot (because that is all it will be in February)? Or the finished house even though it won't be done until June/July well after HCAD assesses the value? [link] [comments]  |
| First time buyer, received a counter I like from the buyer...am I looking solid to get the house? Posted: 02 Feb 2019 05:07 PM PST I've been trying to bag a house for awhile now. I finally got a good realtor, and put in an offer I feel is great last night. The new listing agent and my realtor have developed a report, and my realtor is optimistic. They came back today with a counter, splitting costs of closing instead of covering. I'm very good with this offer. Supposedly they had another offer, and a few more showings scheduled...if I accept their counter (awaiting their official counter/and I'll sign) am I looking good to get this house? [link] [comments]  |
| Posted: 02 Feb 2019 08:19 PM PST There is a seller who is interesting in selling their house through for sale by owner. She would like me to help find her buyers, however, I invest but I am not licensed. This to me seems like it could be a fine line situation to being an agent and I rather not use the wholesale strategy on this one either. So the question is what can I actually do? I am tech and marketing savvy, so could I use that skill set of mine to get her buyers. As in setting up the technical side of the ads and relay all information back to her if the buyer is interested. She would pay 100 dollars if the ads brought in a buyer that closes. Is this doable, and what are my limitations here? [link] [comments]  |
| Buyer did not do inspection within 7 days and now requesting me to fix the house Posted: 03 Feb 2019 12:03 AM PST I am selling a rental property, which is not in good condition. Location, Iowa. The buyer did not perform purchased a home inspection out of his pocket. Because the rental license is due, he walk through with the city, and my house passed the rental inspection and I got a renew certificate. Now the buyer is asking me to repair damage to the door, to the window screen, etc after more than 10 days of the signed purchase agreement. I wonder since the buyer did not request a home inspection, and in theory the buyer accept the condition as it is, right? In theory I don't have to accept any buyer's request at this point. Is it correct? The clause of the inspection is in the comment. Edit: Spelling [link] [comments]  |
| Is getting a rental property a bad idea? Posted: 02 Feb 2019 07:39 PM PST Scenario: My brother wants to get a property that he can rent in MD for the long term game. However, he would like to get me on the mortgage since he can't at the moment due to his current mortgage. I have no problem with this as I don't have a mortgage nor plan on getting one any time soon. My credit is also really good. The thing is that I live in northern VA. I just moved into a studio in the area this month where I'll be renting for a year. The thing with this is that I would have to make the house my primary residence, which I can't really do since I live in VA and need to due to work. I spoke with a real state agent before and she also told me that once I get that mortgage I can't move for at least a year as I would have problems due to the house. This might be a problem since my lease will be up on Feb 2019 and who knows what I will do at that point and don't want to be stuck in the same place if I want/need to move. She also told me that once I get the mortgage I would have to set that house as my primary residence and pretend like I'm living there without actually living there and there would be no problems (aside from not being able to move). Not being able to move is the only thing that worries me as I don't want to be locked to my apartment because of that. So I started looking into getting the house as a rental property instead. After doing some research I have come across some big downfalls: higher interest rates, higher down-payment required, I will have to pay taxes on the rental property. The second option does not sound so great due to costs, with the only thing that I will be able to move anywhere I want. Has anyone gotten a property and not lived there before? Like in the first case I described. Can anyone point me to some additional information on how I should go about this and what I should be researching? I have never owned a property before and new to it so some advice would be appreciated. [link] [comments]  |
| ERP and CRM for real estate development Posted: 02 Feb 2019 06:06 AM PST Hello everyone, There's a large real estate development project that will require end to end management of the finances (including up to date expenses and invoices during construction and sales, approval processes etc), as well as managing the sales process (multiple agents dealing with a basket of properties needing to have live access on availability of those properties, as well as up to date info on payment status etc). Also a good project management system (perhaps Primavera or MS Projects?) What are the options on a good reliable system (ERP, CRM, and others that may be needed) to fulfill such requirements for a mega project, considering that cost is not an issue as long as it works well. [link] [comments]  |
| Posted: 02 Feb 2019 04:27 PM PST Anybody have any advice or experience with this? [link] [comments]  |
| Rather new to this subreddit, had a couple questions Posted: 02 Feb 2019 11:09 AM PST Hi, I'm a disabled veteran who is eligible for a VA Home Loan, but my credit is sub-par (just under 600). My wife has been looking at homes in the Houston, TX area, & they seem to be cheaper and a better deal than where we currently are located. My questions are: (and if they seem rather dumb I apologize) 1) Are homes in larger markets, typically easier to get? Easier meaning more leeway with credit limitations. In my research on VA home loans, it seems 620 is about the lowest some lenders are willing to go to offer financing. Again, maybe a dumb question, but was curious. 2) I've been told with VA Home Loans there's typically no down payment required (I'm sure that's within reason). But even if that is the case, what other expenses should I plan for? I've never bought a home and have no clue as to what I should expect. 3) Other than Houston, what are some larger markets where home prices are reasonable for a family of 5? I'll do some more searching on this, but was curious if anyone here knows of any that might be of particular interest. It would be a bonus if the area has an active military base within 40 miles. Thank you for any assistance you may provide! [link] [comments]  |
| What are qualities in a good Real Estate Agent has that Investors look for? Posted: 02 Feb 2019 09:03 PM PST Hello, I am new to the idea of investing in real estate and I fell in love the thought of selling homes for home buyers and investors alongside with investing in rental properties. I'm currently working on getting a license. I'd like to be able to able to help prospect investors find their 1st or many other properties. What kind of qualities does an Investor look for when it comes to meeting with real estate agents or realtors? I understand that I will have to take an entrepreneurial approach to this profession. Are agents essentially business partners in a real estate investing business? [link] [comments]  |
| How was your experience with your home being taken over by eminent domain? Posted: 02 Feb 2019 04:58 PM PST |
| I am interested in investing in land for timber...thoughts? Tips on finding the best property? Posted: 02 Feb 2019 08:28 PM PST |
| Posted: 02 Feb 2019 07:55 AM PST I'm interested in owner occupying a multi unit (2-3 unit) property for a couple years, then keeping it as an investment property and renting out all units. I'm Chicago based. I feel like the Home Possible loan is my best bet to be able to put just 5% down and it seems to have benefits over an FHA. Thing is, the borrower income limit seems to be 84k in the areas I'm looking. Is that based on gross income earned annually, or what is that number made up of? Also, I heard you can use rental income to qualify for the loan (ie: a 2 unit property in chicago is around 400-500k, 3 unit is 600-850k - if I make 84k I know I would need to be able to show the projected rental income as assisting me with the monthly payment since clearly I can't qualify on my own income for a loan that big.) but it sounds like the rental income has to be official/signed lease. How would this be possible if you are trying to buy the property in the first place? I don't have any other property that is earning me rental income currently. also related question, are there loan amount limits with home possible for multi unit properties? i heard yes but I couldn't find the amounts. Am I just out of luck and I can't qualify for Home Possible? If not, are there similar conventional loans that are just as good that will let me put as little as 5% down? Or am I probably stuck doing a 3.5% FHA if I want to put very little down to get into an investment property? Appreciate any insight on the income limit and using rental income questions - especially from any Chicago area realtors/lenders [link] [comments]  |
| Equity split on possible flip or long term hold Posted: 02 Feb 2019 03:51 PM PST I've been trying to find suggestions on here, Biggerpockets forums and elsewhere. Could use a hand.. I'm looking at working with a general contractor (who is family, which is complicating things, but a necessity) putting up 100% of financing and taking property in my name. The property we're looking at could work as a long term rental but may prove to be a good flip if market allows, sometime later this year or mid next. I'd be putting in around $125k and GC putting in 2.5-3 months time, valued around $8k/mo. Most of what I read are 50-50 equity splits for investor and GC, but it really doesn't make sense to me given the substantial risk I'm taking versus the 3 month lost time of the GC. Looking for a hand thinking through how to value the GC in this instance. We've talked about doing straight pay for GC but obviously they would prefer the equity.. Thanks in advance [link] [comments]  |
| Posted: 02 Feb 2019 02:56 PM PST A little background, I already have federal loans that are paying for my four years of dental school. I live in Philadelphia and the housing market is booming so it's super profitable to purchase, rent and sell homes rather quickly. I was thinking about getting extra loans somehow, with my brother who is also my classmate, and buying a property together. We'd rent it and sell it after graduating to help pay back some of our school loans. Would banks even offer us loans if we already have federal loans? Is there any way I could make this work? Thanks in advance! [link] [comments]  |
| Let's Hear Innovative Development Ideas Posted: 02 Feb 2019 02:47 PM PST I have to create a real estate development proposal for a mixed-use transit oriented development and wanted to focus on offering sustainable solutions for a city. I do not have an urban planning or engineering background, and so I wanted to poll Reddit. Are there any resources I could use to learn about extremely innovative and environmentally friendly landscaping, building, and design techniques? Or does anyone have any ideas? [link] [comments]  |
| Financing on a foreclosed home that has been vandalized. Posted: 02 Feb 2019 02:02 PM PST Specifically all the interior wiring has been removed. Doors and light fixtures have been removed as well, but I don't expect that would affect financing. House is being sold as is but curious if I can get the seller (bank) to complete work as part of the sale. Or more generally how big of an obstacle financing will be. Anyone have experience in this realm? Looking to purchase a second fixer upper home, to eventually move into and convert current home into a rental property. [link] [comments]  |
| Posted: 02 Feb 2019 01:54 PM PST Title kind of says it all. Went thru a VERY painful selling process (buyers dragged out closing for 6 months) and finally sold the home in Jax, FL on May 4, 2017. Recently they've had some rain and the septic tank has apparently backed up into the home. This was not an issue when we lived in the house (apparently the new owners aren't maintaining the property at all, from what a former neighbor tells us). My real estate agent called me to tell me she received a call from them and that they plan to sue for failure to disclose. Is this a realistic possibility? I disclosed all the issues I knew of at the time of the home sale (honestly I didn't even realize we were on a septic tank) regarding roof leaks, break-ins, termites, etc. Do they have a leg to stand on? Should I start looking for an attorney? Google was sort of helpful but...not really. Any guidance is appreciated! [link] [comments]  |
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