Anyone here move out of their parents house straight into a "house hack" property (duplex)? Real Estate |
- Anyone here move out of their parents house straight into a "house hack" property (duplex)?
- Buying a property in Australia as a US resident - any advice appreciated
- Recently purchased a house, sellers claimed no water issues, a week after closing and the basement floods. What are my options?
- Married couple with his and hers primary residences, how is sale of one home taxed?
- What are some real estate careers that doesn’t require a license?
- Down payment question!
- Duplex/4plex loan options if I live in one of the units
- Seeking Post Inspection Re-Negotiation Advice (regarding cedar shake roof)
- Selling - Need advice regarding radon test results
- Title insurance question
- Looking to buy 160 acers. Acouple questions and info stated in body of post. Thank for for fredback
- Will this effect my chances of getting approved for an apartment
- Agents won’t stop calling since house came off MLS
- Signing a short-term lease before seeing apartment in NYC
- [seller - TX] buyer asking for receipts/work order?
- VA Home loans.m, buying in WA state.
- Does adding spouse to deed trigger any issues with existing mortgage?
- Nj license
- Tokyo - Low Interest Rates. How much can I afford?
- Private (hard money) lending advice request for anyone with experience
- How exactly do real estate groups work?
- Taxes for a new construction
- What to do about extremely noisy business neighbors?
- [New Jersey] Sister of seller to rent out unit in our multifamily for a period of 6 months after we close, how can we protect ourselves?
- Resources for first time buyers in older housing markets? Should first time buyers just steer clear of old, expensive homes entirely?
| Anyone here move out of their parents house straight into a "house hack" property (duplex)? Posted: 03 Jan 2020 09:13 PM PST I'm a 23 year old engineer living in Wisconsin. Just payed off my student loans and am debt free. I am starting to plan my next steps for life and am trying to decide whether I want to stay at home another year and save up enough for a house hack, or move out into an apartment. I match an employer 401k (10 k saved), have a 6 month emergency fund saved (calculated using estimated costs if I were renting), and make a good salary (73K). Saving up for the house hack seems like the no brainier since I don't plan on leaving my city anytime soon. But I also see value in renting for a bit (growing as a person, being able to acquire furniture, getting a small taste of independence before taking a bigger step etc). Not the biggest fan of living at home but it isn't the worst. Anyone have a similar experience when getting into the real estate game? [link] [comments]  |
| Buying a property in Australia as a US resident - any advice appreciated Posted: 03 Jan 2020 08:00 PM PST Not actually myself, but my parents. They relocated to the US several years ago for fathers work and are now no longer considered Australian residents/are residents in the US. Having sold our house and an investment property here before moving, they have a significant amount of money collecting dust (almost negligible interest) in the bank - but they claim that if they were to invest in a property here they would face extreme taxes and other challenges. Apparently transferring the money to myself and purchasing in my name isn't really an option either? I admit that I have a vested interest here because I want to live in the property they buy (pay them rent), but also the idea of such a large amount of money sitting in the bank seems very suboptimal. I'm not looking to exploit loopholes in the law per se, but I know absolutely nothing about finance/real estate etc so do you guys have any suggestions given the situation? Thanks in advance TL;DR: Parents no longer Australian residents / They want to purchase a property in Australia / Possible to do this without incurring massive taxes and other challenges? [link] [comments]  |
| Posted: 03 Jan 2020 08:13 AM PST I purchased a house and closed in October 2019 . Seller did not disclose any water issues and I specifically asked them if there were any because some drywall in the basement looked newly patched. A few days before closing and the Home Insurance company tells me that there was a previous claim on the house in March 2019 for replacing drywall in the basement due to water damage, when i asked him to clarify he said he can't tell exactly what it was for? The week after closing it rains and the basement floods. I was finally able to get a plumber to come out and scope the sewer line in November and they found the sewer line was completely broken in multiple places under the house leading to the street. As I had to move in my family in December I had to start work right away as any daily use water would cause flooding. $20k+ bill later and im wondering if there is any recourse I can take against the sellers or even the inspector who wasn't able to find any signs of water despite every plumber I had come by tell me "did you not have an inspector come in here? all this is not right..." about multiple issues including water damage. The real estate lawyer I used for closing is not responding to my emails or returning my calls, could he just not want to deal with this? [link] [comments]  |
| Married couple with his and hers primary residences, how is sale of one home taxed? Posted: 03 Jan 2020 09:20 PM PST (US) My spouse and I bought a second residence in 2014 while also owning a first residence. The second house became his primary residence while the first one was my primary residence. In 2019, we sold the second residence and he moved back into the first house. The selling price of the second residence was about $70k higher than we paid. How is that handled for taxes? If we sell the first house and re-invest the proceeds from both into one house, is the increased equity taxed? What if we separate and buy two homes? It's in Texas, no state income tax. [link] [comments]  |
| What are some real estate careers that doesn’t require a license? Posted: 04 Jan 2020 01:00 AM PST |
| Posted: 03 Jan 2020 06:27 PM PST My husband and I own two properties out right. A rental worth about 130,000 and our home that we currently live in worth about 400,000. We haven't been planning on moving but came across what we would consider our dream home for 775,000. We don't want to sell either property at the moment and do not want to put up the full 20 percent down as it would put some other things, business wise on the back burner. We need to make an offer soon(real estate market here is crazy) and would need to close in 30 days (buyers requirements). I'm wondering if taking out a Heloc would take too long to come up with down payment? Is there a way of putting less down? 10 percent would be just fine. These properties are all in the same town so not sure second home loan would be do-able. Other helpful info- our plan would be to rent out our current home for about 2400.00 a month if this all works out. Any advice is welcome! We see our financial lady Monday but would like to put in an offer before then! Thank you, everyone! [link] [comments]  |
| Duplex/4plex loan options if I live in one of the units Posted: 03 Jan 2020 06:56 PM PST What are my financing options if I were to buy a duplex or fourplex and live in one unit while renting out the others? My preference would be a standard loan with 5% down payment but I have no idea if that is an option on a multi family property or if I will need 20% down. [link] [comments]  |
| Seeking Post Inspection Re-Negotiation Advice (regarding cedar shake roof) Posted: 03 Jan 2020 04:13 PM PST I've been doing this for almost 15 years now and this is the first time I've ran into a issue where I have no clue what to recommend. My client is the buyer. Purchase price is the the mid $300's. She is a close relative of mine. We had our inspection and the inspector recommended that the cedar shake roof be repaired (ridge caps were coming unstapled, some were loose, couple were missing. We asked the seller to have the roof repaired prior to closing. They offered $200 escrowed to fix the roof. I recommended we have someone that specializes in cedar shake out to take a look and give an estimate on repair before agreeing to that. He went out today and stated that it's going to be $7,000 to repair. He said that this should keep it good for about 5 years, perhaps a little longer if maintained properly. He stayed at that point it would need to be replaced which would cost in the $40,000 range. Anyone have any suggestions? Initial thought is to ask for $7000 in concessions. But then she is stuck with the new roof cost 5-8 years down the road. If this is not her forever house, she will likely never get this cost back. thanks [link] [comments]  |
| Selling - Need advice regarding radon test results Posted: 03 Jan 2020 06:02 PM PST I am the seller. The buyer had the home inspection done and a few problems were raised that they are asking us to fix. One is the result of a radon gas test with a 4.5 pCi/L result. That is .5 above the EPA level. The buyer is asking us to put in a mitigation system, which we're not opposed to, but at the same time we are wondering if we should get a second opinion. According to the EPA's guide on radon testing, they should have told us they were doing the test and to maintain "closed-house" conditions. The testing cans were left on a Friday and picked up on Monday and in the meantime, we were not aware a test was being conducted. Should I pay for a second test (about $125), have the mitigation system installed or offer the buyer a credit? [link] [comments]  |
| Posted: 03 Jan 2020 08:24 PM PST In my purchase contract the seller to pay for: Title Insurance - Standard Coverage Owner's Policy Under buyer it says I'm to pay: Title Insurance Extended Coverage Lenders Policy - Mortgagee Policy. On my CD it has me paying; Title Insurance - $1759 Title Owners Policy (optional) - $12.49 And the seller paying: Title Owners Policy (Optional) - $58.51 Is the closing disclosure correct? Or was the seller to pay the $1759 and me to pay the much lower $58.51? [link] [comments]  |
| Looking to buy 160 acers. Acouple questions and info stated in body of post. Thank for for fredback Posted: 03 Jan 2020 04:36 PM PST I came across some land great for hunting that use to be a old farm. but about 20 Acer's or so we're sold off. No current structures on the property. I have never took a mortgage loan out for a house or land. And would like to eventually build a house. It is located in north Eastern PA listed for 300k. Was bought in 1999 for 175k. It is about 35 percent wet land. 55% wooded and 10 percent feilds. With a road through the whole property but not for the 3 acres entrance from main road. Would need to build roadway to the road that was sold with farm house and barn. The current tax a year is 1523. There is trash and acouole dump sites. And no access road. And wetlands. I want to bid 150k and go from there. Now my question is what loan or way to go about buying land is the cheapest nd most efficient. I am 25 years old with 71k saved up. take home is 56k yearly with only payment being 420 for truck a month. I was Approved up to payments of 1953 a month with taxes,mortgage and interest built in that was a one arm 10. I was pre approved 2 months ago before stumbling across this property. The bank told me raw land loan they offer is 35% down at average of 4.9. would be paying about 80k in interest. The construction loan is 20% at average of 4.2. About 62k in interest. I plan on building a house eventually but not in a rush nor know how big or where on land to build it. Questions... Is it possible to buy land then divide a acre for building a house? To keep taxes low on the remaining 159 Acer's? What is the best loan for this situation? What would be the monthly mortgage for the land through either loan option or is a better loan option available? If no house I plan to still live off land or use as get away. Throw down rv or possibly trailer. I mainly would like to know what is the cheapest and best way to go about buying/obtaining this land or if someone can share info that would be good for knowing before purchase. Thank you [link] [comments]  |
| Will this effect my chances of getting approved for an apartment Posted: 04 Jan 2020 02:18 AM PST I lived in an apartment in Indiana from July 2017-September 2018. I had 2 evictions filed against me. The first one I paid my rent up and was able to stay. The second time I moved before they could evict me. Now I am living in Texas working a better job making more money. I am looking to get an apartment with my boyfriend but worried the evictions that were filed or money I did not finish paying will effect my chances. I don't see anything on my credit report about the apartment but I'm scared it will come up when they run it. I was told money talks and will be more important. Could I still get denied if my boyfriend and I both make good money and he has a perfect rental history with a good credit score? [link] [comments]  |
| Agents won’t stop calling since house came off MLS Posted: 03 Jan 2020 11:15 AM PST We had an investment property on the mls but the tenant was making it a pain to show so we decided to wait until the lease is up. Listing came off the mls on the 1st. Have received dozens of calls since. Such a pain in the ass. Phone numbers are on the do not call list but doesn't seem to matter. I submitted a complaint for each call but seems like all I can do is wait for them to get the picture when I don't answer [link] [comments]  |
| Signing a short-term lease before seeing apartment in NYC Posted: 03 Jan 2020 04:22 PM PST I am moving to Manhattan for 3 months in April, and looking for some advice on whether I should trust and sign a lease before seeing the apartment? Because I am flying from the UK, it's going to be impossible for me to see the place physically before I go, and I don't want to arrive without accommodation sorted. I found it through leasebreak.com, and it all seems above board - an individual broker responded to my inquiry, explained the rent+security deposit, and I'm satisfied with it all. There's no broker fee as he is apparently taking his commission straight from the landlord:
So my question is, is it a bad idea to agree to a lease without having seen the property? Even for a short term thing like this? I am tempted to just go through AirBnB because there is a refund guarantee if something is seriously wrong with what you book, but the prices are a bit higher it seems, mainly because I also have to pay a service fee which is typically another $600-800. [link] [comments]  |
| [seller - TX] buyer asking for receipts/work order? Posted: 03 Jan 2020 07:32 PM PST Im selling the house. And after the inspection, they wanted everything fixed. Half of it I did myself, the other half was done by a handyman. House will close in 3 days. They had a walkthrough yesterday, and told us just now that they will need receipts/work order for all the repairs. My handyman went back to mexico for the holidays, and wont be back till Feb. My agent said he will talk to his realtor. But yeah, he was stumped, so this doesnt give me confidence. Help? What can I do? Edit: After reviewing the contract, yeah it says it's to be done by a licensed contractor (my fault for not catching that). But everything is fixed now. The handyman is out of the country. So now what..? help. [link] [comments]  |
| VA Home loans.m, buying in WA state. Posted: 03 Jan 2020 06:08 AM PST We are getting ready to buy a home and so far it's making me have questions. We have never bought before. The 1st 2 lenders we talked we weren't happy because one wouldn't give us any ideas on how much home we should be looking at in regard to our budget and basically would say "send me the house you want and I will tell you how much it will be monthly". The second which was recommended by our real estate agent, is called "Premier Mortgage Resources LLC". It says they can sell our loan to Freddie Mac or another Loan Prospector. Is this normal? Should we talk to another Lender? We are/will be utilizing a VA loan. Another lender recommended by real estate agent didn't return calls or texts or call when we had scheduled phone appointmemts, so we dumped her. Also, my husband is active duty and we are buying out of state because he has orders out of state, and some lenders said not to use my income since I won't have a job when we move, but this lender says that because it WA state, we have to put my name down. Is this gonna cause problems? We both have zero debt and I am an RN and won't have a problem finding another job after we move. My husband has been active duty for 23 years. I have been at my present job for over 2 years. [link] [comments]  |
| Does adding spouse to deed trigger any issues with existing mortgage? Posted: 03 Jan 2020 01:55 PM PST I'm planning to add my wife to the deed of a house that I currently own (purchased before marriage). Will doing so affect the current mortgage that I have in any way? Perhaps something with the due on sale clause? The plan is to refi out of the current mortgage once she's on the deed, and have her exclusively on the new mortgage. Our loan officer suggested this plan, but I want to check with this group before proceeding to see if there are any potential red flags. [link] [comments]  |
| Posted: 03 Jan 2020 06:40 PM PST What courses did do you guys recommend for an nj license? Im learning towards on online program unless in person is that much better? [link] [comments]  |
| Tokyo - Low Interest Rates. How much can I afford? Posted: 03 Jan 2020 06:30 PM PST Hi all, I've been living in Tokyo for a while now and it looks like I will be living here for the foreseeable future. I've gone to a couple banks and have been approved for interest rates of 1.95% and lower on a 35 year loan. I currently pay about 1,400 USD in rent. I'm happy to pay a little more than this if it is towards equity on a home. My question is about how much I can comfortably afford. I have no debt of any kind and am able to save about 2,000 dollars per month after paying rent and other living expenses. I'm focusing on saving for a down payment right now. (If I had permanent resident status here there is no down payment, but this status is years away for me). Just looking for some advice on what would be affordable or not. Especially from anyone that might have previous knowledge of the fees and taxes here in Japan. [link] [comments]  |
| Private (hard money) lending advice request for anyone with experience Posted: 03 Jan 2020 09:05 PM PST Anyone gotten into private lending (hard money lending)? My family has been paying off the loans on our portfolio and are getting into lending now that all of our floating rate loans have been paid off and prices on existing product is far too expensive for us. Discussing with a lawyer next week to get some advice and wanted to get some insights from the community of questions to ask, pitfalls to avoid, etc. Any help would be appreciated [link] [comments]  |
| How exactly do real estate groups work? Posted: 03 Jan 2020 08:46 PM PST I've always been interested in big money commercial real estate groups but I don't know much about them and how they work. How did they start investing, how do they acquire so many assets, how do they find partners, and do I need mega millions to start a group of my own? [link] [comments]  |
| Posted: 03 Jan 2020 08:42 PM PST I am about to close on a new construction condo in Chicago. My mortgage company is estimating a certain amount of taxes to put in escrow on a monthly basis, but I have a few questions:
[link] [comments]  |
| What to do about extremely noisy business neighbors? Posted: 03 Jan 2020 09:31 AM PST I am the new clinic director of a physical therapy clinic. Next door to us is a kickboxing studio that plays VERY loud bass-heavy music from 6am into the evening all day long. You can also hear the sounds from their weights, punching bags, etc. all day long. Almost ALL of my patients have complained about it. The owner of my clinic says she has talked to them about the noise and they have done nothing in the past. Does anyone have advice about what to do? I plan on reaching out to the owner this weekend to discuss what both of our businesses can do to minimize the noise but I feel that it's more of their responsibility. If they don't do anything like last time, what else can I do to stop the noise? (FYI the owner specifically asked me NOT to file a noise complaint because she wants to keep a positive relationship with them.) [link] [comments]  |
| Posted: 03 Jan 2020 03:03 PM PST We just entered attorney review for a multi family home that the seller's sister is currently occupying. We agreed to have the sister sign a 6 month lease at an under market rental rate to give her time to move out and move out of the country. We fear, due to the strict eviction laws in NJ and us being landlords for the first time, that she will refuse to leave. Is there specific language we can add to our contract that says she has to be out of the property? I was reading laws about NJ saying you can't evict a current tenant just because their lease expires, if this is the case how can we ensure that her rent goes up to market rate? TIA [link] [comments]  |
| Posted: 03 Jan 2020 08:40 AM PST After 6 months of looking in and around a large NE city without many properties appealing to us, spouse and I are left feeling a little burned after falling in love with a flipped home (I know, I know). In our defense, it is in a great school district and very close to downtown with good public transit options, is incredibly spacious, has well done renovations (kitchen, baths) and preserved/desirable historic features, and checked literally all of our other boxes. However, the flippers had purchased "as is" after 30 years of single owner occupancy (an elderly couple) and had walled off some probable unabated asbestos and some definite water problems which were not apparent until a later viewing. We don't have any background or pre-existing knowledge pertaining to real estate, construction, or inspecting a home (except what we are picking up through touring homes and scattered reading). We are looking at properties in the ~1M range, are comfortable with having to put more money into anything we buy, and are counting on taking a loss due to our inexperience and reliance on contractors for all home repairs. We'd just like to avoid getting totally hosed in the transaction. That said, should we just avoid old homes entirely? We do find them charming and new construction in the area comes at a 50% premium. Would it be unheard of to tour homes with a contractor we paid hourly to give us cost estimates for certain things? Any resources that could get us up to speed on the most important/expensive items to inspect (foundation/slab/settling/etc) especially as it pertains to 1890s-1950s homes? Thanks in advance! [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