Never buying a flipped house again Real Estate |
- Never buying a flipped house again
- Landlords, what do you wish you had included when writing up a lease? What are some must-have conditions?
- Buying unit in uk
- Neighbor house has been vacent for 2.5 years, any ideas what is going on?
- How to go from engaged and living separately with family to married homeowners?
- Anyone have experience with securing a mortgage while being a contract worker?
- What do I need to know if listing my home in spring 2019?
- [CA] VA Home Loan eligible, but bad credit
- First time home owner - buying land
- Standard Real Estate Investment Partnership Contract?
- [SC] Are there resources for determining estimated renovation costs for common projects by locale?
- First time landlord, what are the cons of not having a property manager?
- Need advice on accruing funding to purchase first home.
- Replace appliances or discount listing price?
- Rental investments
- So many options....
- First time home buyer, Seller not wanting to work with our USDA loan. Is this normal?
- Downsides of being investor and realtor? [WA]
- Zoning Information Tool?
- When should i start loan shopping for new construction home?
- Correlation between gas station and house property values
- Developers, what do you wish you had known when you started?
- (US-CA) Timing and seasonality of homebuying
| Never buying a flipped house again Posted: 06 Apr 2019 04:27 PM PDT tl;dr - When buying a home check everything you can, assume the home inspector doesn't care, and be ready to walk away if you don't feel comfortable. 10 months after buying my first home, and I have redone almost everything the previous owner fixed up. The basic story - I bought a house from a guy who 'flipped it' in about a year. I do mean the lowest form of the word, not a professional remodeling company who is restoring a home because it's their primary business. I mean a lone man who thought a bit of cosmetic work counts as restoration on a home built in the 60's. Everything this guy did to this house, he did wrong. Everything. I had to (with the help of professionals) redo plumbing, electrical, and structural work. Worst off, he sold it as a "Fully Restored Home". My realtor didn't worry because it's a sellers market, and the home inspection was a joke. If the home was marked "As Is" then I wouldn't be so annoyed, or out so much cash. I just want to point out what a bad remodel is, and why you should pay attention to these details.
I won't bore anyone with more info, the list goes on. Suffice to say, I've spent more money than I was expecting on this place in the first year. I understand that there is always work on a home, even when purchasing new. I will however, never again buy a home from a non-experienced individual who thinks he can be a weekend warrior of home flipping to earn some side cash. Yes, most of these things I listed can be considered trivial. The point I'm making is a home remodel should have been done right. I redid everything. [link] [comments]  |
| Posted: 06 Apr 2019 05:51 AM PDT As the title says, what have you learned from your mistakes, or what are you glad you included? [link] [comments]  |
| Posted: 07 Apr 2019 01:59 AM PDT Hey guys, Australian here! I have just been showen the uk house prices, and they look incredibly cheap. Is this too good to be true? I have seen many two bedroom units in the north going for £45-50k. Is there something going on here? Or is it true that Brit's would rather rent then buy? [link] [comments]  |
| Neighbor house has been vacent for 2.5 years, any ideas what is going on? Posted: 06 Apr 2019 07:49 PM PDT Located in Wisconsin, our neighbor's house was foreclosed on. They moved out 2.5 years ago and the house has been vacant since. Randomly an unmarked vehicle will clear snow or mow the lawn. After doing some research we found out hud purchased the home 2/2018 from an FHA bank. Just wondering what we can expect to happen. Just seems like a long time for someone to be paying taxes and yards services for and not having it listed or doing anything with it. [link] [comments]  |
| How to go from engaged and living separately with family to married homeowners? Posted: 07 Apr 2019 12:34 AM PDT My fiance and I currently both live with family. We are not planning on moving in together until we are married. We are also financially capable of purchasing a house instead of renting. The problem is, how do we go about buying a house if we aren't married yet? My guess is our options are either get married and rent for a while, and while renting we go about buying. Or, we get courthouse married and start the process of buying right away, so we have a place by the time we do our ceremony and stuff. Any thoughts or suggestions? What's the best way, or is it even possible, to go from living with family straight into a house we have bought together? [link] [comments]  |
| Anyone have experience with securing a mortgage while being a contract worker? Posted: 06 Apr 2019 08:08 PM PDT I've done travel nursing for 3 years, have never had a problem finding a job. Each contract is usually 13 weeks long, so I know that's going to be a huge red flag for banks. Can I realistically get a loan for a house with great credit, great down payment, no debt, but still doing contract work? [link] [comments]  |
| What do I need to know if listing my home in spring 2019? Posted: 06 Apr 2019 06:54 PM PDT |
| [CA] VA Home Loan eligible, but bad credit Posted: 06 Apr 2019 10:16 PM PDT My dad is a Veteran with 100% VA disability. Prior to receiving benefits, he was in a tough place financially and ruined his credit score. However, he recently found out he can receive a Certificate of Eligibility and is looking into purchasing a home in Orange County. I plan to live with him as he is starting to need assistance. I have a stable job, annual income around $100k, credit score between 750-800, I own my car, no debt, less than $30k in savings. We are still awaiting a packed with more info, as well as their suggestions for an agent, but already have so many questions.
Thanks in advance for any advice! [link] [comments]  |
| First time home owner - buying land Posted: 06 Apr 2019 08:56 PM PDT I live in the Gulf Coast area in a reasonably pricey area. My wife and I are looking to rent one more year while we save, and then buy. However, we found a piece of property, a little over half an acre, for $29k. We have around $12k for a downpayment right now, so its financially feasible that we could buy this now and then build in a year or so. The problem is this lot is priced much lower than most around it, and it's been listed since January 2018. The price has dropped from 47k to 37k to now 29k. I'm assuming there's something wrong it, but just by driving by, it looks fine. It's in a great area. I'm going to call about it on Monday, but what are some things to look for that could be why nobody else wants it? And is the realtor obligated to tell me those things or can they just say whatever to try to make a sale? [link] [comments]  |
| Standard Real Estate Investment Partnership Contract? Posted: 06 Apr 2019 07:59 PM PDT Hey guys, going to keep this as simple and sweet as possible. There is an agreement between three parties - Silent Investor, Real Estate Agent (me), and General Contractor, we are planning on flipping houses. Silent Investor will be providing all the capital investment, I will find and sell properties along with several other duties, General Contractor will be doing all the rehabilitation work. Silent Investor will be receiving 15% of the final profit, the remaining pie will be split evenly between the General Contractor and me at 42.5% each. We had a meeting in person recently and agreed to the numbers above, but we need a written agreement/contract before we officially start. Where do we find a standard contract for this type of investment partnership that I could use and alter a few terms? Or should we find an attorney who can develop a contract? We will be flipping houses in Maryland by the way. [link] [comments]  |
| [SC] Are there resources for determining estimated renovation costs for common projects by locale? Posted: 06 Apr 2019 07:53 PM PDT Considering buying a house where the kitchen basically needs to be replaced. I know renovation costs can vary wildly from city to city. Any advice on narrowing down that range? (I'm specifically looking more at labor; parts I can get at IKEA so that's easy enough to estimate.) [link] [comments]  |
| First time landlord, what are the cons of not having a property manager? Posted: 06 Apr 2019 01:34 PM PDT I'm listing a home I bought about 6 years ago for rent. Currently, my mortgage with escrow is about 750 and the real estate agency I'm hiring to list and find a tenant for me says it should rent for 1200-1300 a month. To manage the property, they're asking for 10% which should be in the park (assuming I get that much per month) around 2,400 per year. I live 2 1/2 hrs away, I can do 90% of any home repair myself (obviously the property management company won't handle repairs anyway just facilitate a repair man if necessary) and have a few friends who manage their properties and are willing to help draft a strong rental agreement. My question is, 2400 per year sounds like a lot of money, is it worth it? Are they really providing that much value? [link] [comments]  |
| Need advice on accruing funding to purchase first home. Posted: 06 Apr 2019 07:15 PM PDT Sedgwick county Kansas, really bad credit from when I was a teenager, banks won't lend to me. I work two jobs and so does my fiancé. Currently have 2000, I know the first time homeowners grant will match up to 5000. But I need some advice on different ways to obtain the funding I need. [link] [comments]  |
| Replace appliances or discount listing price? Posted: 06 Apr 2019 03:17 PM PDT We are prepping our starter home for sale. The range works fine, but it has prepared a lot of meals and looks a bit rough. Which would be if most benefit, replacing the range or offering discount? [link] [comments]  |
| Posted: 06 Apr 2019 06:20 PM PDT I have 1 rental with a 175 cashflow that was a former primary home that's consistently had tenants for about 9yrs. I've used a property management company the entire time and have never had issues. I'm going to have about 100k per year to invest in rentals, excellent credit and my bank said the can lend up to 10 mortgage loans. I'm currently attempting to develop my strategy to create a snowballing rental portfolio which will enable me to purchase more homes every year than the year before. If i buy sf and townhomes under 100k, i could potentially buy 5 a year with 20% down each, then do that every year eventually buy, 6, 8, 11, etc per year as my cashflow increases. Does this sound like the generally correct strategy? My goal is 250-350 cashflow each. [link] [comments]  |
| Posted: 06 Apr 2019 04:16 PM PDT Alright, Minnesota here....what is everything to know about buying a lot and building a house, how long does that tend to take? Also, would it to be smart to buy a duplex, I would live in one half and my brother the other half versus buying a single family home. But maybe single family home is our best option. We have a unique situation, we've been roommates for 5 years and don't want to split up our cats...so we're trying to figure something out to purchase instead of rent....max is $250,000. [link] [comments]  |
| First time home buyer, Seller not wanting to work with our USDA loan. Is this normal? Posted: 06 Apr 2019 10:01 AM PDT Hey all, So GF and I are first time buyers. found a house we both very much like, is in our price range, and that qualifys for the USDA loan. Put in our offer and hear back from the seller that they would prefer a conventional loan because USDA will and I quote " nitpick them about every floor tile." My question Is, is this normal or does it feel off to anyone else? The house seams at least to me to be in good condition. [link] [comments]  |
| Downsides of being investor and realtor? [WA] Posted: 06 Apr 2019 12:11 PM PDT Long term investor with a fair size portfolio (20+ units) and I'm thinking about becoming a real estate agent. I'm just wondering if there's any potential pitfalls/downsides I could run into by going this route? [link] [comments]  |
| Posted: 06 Apr 2019 03:30 PM PDT Do you folks know of any tool that can tell the zoning information for a given parcel number or address? [link] [comments]  |
| When should i start loan shopping for new construction home? Posted: 06 Apr 2019 02:51 PM PDT If the construction is just starting mid April and may take 4-6 months to complete, when should i start shopping for actual loan estimates? [link] [comments]  |
| Correlation between gas station and house property values Posted: 06 Apr 2019 02:21 PM PDT Hello, So I am looking for a real estate market, and there is indeed really good unit in a residential area that is right next to a gas station (according to google map, the distance between the unit and the gas station is 500 ft (around 150 meter). Except this, everything else meets above my expectation (built 2 years ago, housing structures, size, and literally everything that I would ask for in my budge range). when I am buying a house, the most important point is re-sales value within 5-10 years, (or more years), but how do you guys think? I feel like gas station is a deal breaker given that such a close proximity and potential health risks, but on the mean time other option else is not really available to our budget range that meets our expectation. Normally, I would wait for next time but since the market has been switching to seller's market, I am worried it would only go up more. So here I am. If there is any great articles to read for correlation between gas station and house property, please let me know. And I would like to hear other fellow redditors' opinion on this type of proximity gas station next to residential area. [link] [comments]  |
| Developers, what do you wish you had known when you started? Posted: 06 Apr 2019 02:13 PM PDT As a side gig, me and two others are running a small real estate investing company. We have 15 flats under management, all of which we bought to let. Now we are looking to build a ten-flat house. We have hired / asked an architect and an engineer to put together the materials for the request, and would do this as a turnkey contract (sign and build, expecting to have a finished house a year later). This is the first time for any of us. What do we need to know? What are the biggest mistakes people make? Any advice or stories from your own experiences would be much, much appreciated.
[link] [comments]  |
| (US-CA) Timing and seasonality of homebuying Posted: 06 Apr 2019 10:21 AM PDT I'm currently in the market for a home in the suburbs of south bay LA, basically looking for something in the 800-900k range, but I'm starting to feel like I've already missed out on some great deals, and people are going to start overpaying and sellers will start overpricing their listings as we get closer and closer to summer in hopes of getting someone to bite. On the other hand, there's more inventory in the summer, so I try to keep that in mind. But, I'm hoping that there will be some really good deals to be had with increasingly desperate sellers trying to unload their places at a lower price before school starts. So right now I'm in the mindset that, sure, if I find the perfect house in the perfect location, I'm more than happy overpaying for it just to get the deal done. But I'm also feeling this...anxiety that maybe my optimism is too high and I need to stop passing on still pretty good houses that don't meet my personal ideal. Am I on base with my expectations here? Do good deals in warmer markets typically show up in the fall, or am I just completely off? Honestly, I can probably go until Summer 2020 before I really need to commit to getting a place. [link] [comments]  |
| You are subscribed to email updates from HomeOwners & Investors. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment