Looking to buy a home. What factors do you look at? Real Estate |
- Looking to buy a home. What factors do you look at?
- Is there such a thing as a "trial balloon" real estate listing?
- Offer Ghosted, Weeks later asking for Best and Final
- Finding out what was previously built on my lot?
- (NC - USA) Moved into townhome 2.5 years ago and now new neighbor sucks. Need to move out, but don't know what to do next. Help?
- Best video tutorial on building a basic website?
- Purchasing a building that already has tenants (first time buyer)
- Commercial real Estate
- Why do developers use so much debt?
- Selling agent has not picked up For Sale sign or lock box 3 weeks after closing
- Closed on first investment property.. found out the property taxes are higher than what I was told at closing
- Buying new home
- 1st time home buyer guide
- Invitation Homes Exit Charges
- What can I do with the equity in my rental property?
- Sold property in Oct. Got check today. Is it 2019 income or 2020?
- Toilet not flushing on NYE, and bathroom floor is sopping wet (not sure where the leak is) - is landlord responsible for plumbing costs, or is tenant?
- Where to buy quality fixtures at discounted prices?
- Advantages to a longer close??
- looking to sell in the near future and not sure where to start. any advice?
- Math Question - Construction
- Taking a loan against asset (co-owned asset)
- I'm in town staying with my aunt for a couple of months. Can I help her?
| Looking to buy a home. What factors do you look at? Posted: 31 Dec 2019 09:15 AM PST So I'm looking into buying a home and a lot of it is kind of overwhelming since I feel like there's a lot I don't know. I'm a in my early 20s and have never purchased real estate before. My parents have told me that I should find an area where property values are rising - and with a good school district, but other than that haven't really given a whole lot of guidance other than to "trust in god." I started looking at houses around my area, and the good school district areas come at a hefty premium. I don't have kids so the school itself isn't actually something I'd like to factor into my decision making. What factors should I be looking for when looking for a house? When I'm going on tours of houses I'm interested in, what should I be looking for in terms of red flags, or expensive repairs that might need to be made? Are there any good resources you'd recommend? My parents have told me that a good realtor is essential during this process, and that they'd be able to provide any information I need. I've been having a realtor take me on some tours of houses. She doesn't seem too bad but I don't know what type of information they're supposed to be providing? Are they really even neccessary for this process? My mother said that realtors can help with negotiating. This seems pretty silly since there's no incentive for them to negotiate with my interests in mind since they're paid based on a percentage of the sale price. A coworker of mine is pretty cut-throat and thought that her realtor didn't deserve the full commission and negotiated with the buyer to lower the price by cutting some of the commission. My realtor has this program that spams my inbox with all of these listings in the area. And she had just raised the minimum from $100k to $120k on it saying that I'd find better houses with it. It seems like it might be better for her bottom line, but I've seen some pretty decent houses actually below $100k. TLDR; I kind of feel like a naive fish swimming with a bunch of sharks. What sort of recommendations do you have for a first time home buyer? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Is there such a thing as a "trial balloon" real estate listing? Posted: 01 Jan 2020 03:52 AM PST I'm in a weird situation, I guess. A friend of mine a few blocks over needs to move out-of-state and is trying to sell his home by owner. I'm interested in it, but only if I can sell my own home for a reasonable price. We've talked about a contingency contract between the two of us. If I cannot buy his home, though, then I don't want to sell or move from mine. I'm only interested in selling in order to buy his home as my primary residence. He's got to sell quickly, so he's priced his home to sell quickly. We're in an area that's rapidly gentrifying, and he's put in a lot of recent updates (roof, foundation, HVAC, electrical, floors, windows, French drains, etc). He's already gotten one contingency offer from a buyer who is represented by a realtor, and there is probably another offer coming by the end of the week. But as my friend, he's giving me a shot at it first. So what would you recommend that I do? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Offer Ghosted, Weeks later asking for Best and Final Posted: 31 Dec 2019 01:48 PM PST We placed an offer on a house at the beginning of the month. Our deadline came and went without hearing anything back from the seller or agent after many attempts to contact (by our realtor). So we wrote it off and moved on. I just got word today that they have multiple offers and want best and final offers. We hadn't heard anything about this house for weeks now, so it seems odd to me that they are now saying they have multiple offers and for us to put in our last and final. We still like the house but it feels a bit wonky. How would you feel in this situation? House has been on the market for over six months. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Finding out what was previously built on my lot? Posted: 31 Dec 2019 06:00 PM PST Hi everybody, I've recently started construction on a new home. But I was wondering if there is anyway to find out what the original house was that was built on the land I purchased. How would I go about doing so? It's to be expected to have homes torn down and replaced by new construction in South Tampa, Florida. So I'd assume the city might keep records of what the history of that land is. Weather it was a previous home owner, what was previously occupying the space, and the previous sell prices of the lot. I was only able to find previous sell prices but not much more details. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 02:39 PM PST So, I bought my first property about 2.5 years ago with a mortgage after renting apartments for a while (I'm in my late 20s). I was desperate to get away from apartments because honestly, they were horrible to live in and the reason was mainly other people in the other apartments. So, I got help from parents who suggested a townhome. It was a good location, within my price range, and they stated multiple times to me that noise wouldn't be an issue, even though there was not concrete barriers between the units. Well, once again, reality says otherwise and I now get to enjoy new neighbor who enjoys sound system. While they aren't super rude about it, there is literally NOTHING I can do to avoid listening to bass. No matter how much you turn down bass, it just goes through units. I know because I have a lot of experience from apartment living. I also know from experience that talking to them does nothing as they are not going to sell there soundsystem...which is literally the only way to get rid of the issue. So, I'm going to have to move out. I bought the place for $180k and it is estimated to sell for about $210-220 now based on other units that sold around me. I wish I didn't have to move because the value seems to be projected to increase way more as time goes on with what is going on around the area. But, my sanity does not allow me to live here anymore. I have a very "intense" job (programming...I need time to learn at home as well) and I can't relax or self study at home anymore. I can't enjoy my home here anymore. It is all horrible and I simply can't handle it anymore. So, what are my best options right now? Long term, I will probably be moving to a new city in a year or two. My goal is to move into a house with NO shared walls with ANY units around it (like a condo or townhome have). Do I sell my place and buy a new one? Do I sell the place and rent a new house? Do I rent my current place out and buy (if that is even possible) a new house or rent a new one? Ultimately, my main requirements for the new place would be the wall issue, but also that I don't get landlords or people randomly walking into my place at any given time to "inspect" or whatever else. Since I own my current place, I don't have that issue. I'm just stressed out and and lost. I come on here because I really have no one to ask for help from anymore (family won't discuss me moving, they just say figure it out). I don't want to make a stupid decision while I am stressed out. Can someone on here please help me make the correct decision based on the above and what I need for a new living space? Thanks for any help. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Best video tutorial on building a basic website? Posted: 31 Dec 2019 10:59 AM PST Hi, I really would like to make my own website for my business and was wondering if anyone had any actually great clean video tutorial links to help me do it. Any input would be greatly appreciated. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Purchasing a building that already has tenants (first time buyer) Posted: 31 Dec 2019 01:02 PM PST I am looking at making my first purchase of property. I need warehouse and office space for my business so i have been browsing properties in my area and everything that I find that would be useful to me is commercial space that I would rent out along with running my business in the leftover space. Buying just seems to make so much more sense than leasing space with the pricing in my area. I have the downpayment cash so id rather pay to own my building when it all said and done instead of lease. One building Im looking at is a 5,000sqft building that already has 2 tenants paying $700 and $800 a month along with paying their utilities. The one lease is month to month basis and the other lease ends in 2021. One tenant runs a daycare and the other tenant does physical training, i believe they are actually husband and wife. I can run my business in the leftover space which is over 1000 sqft. The price of the building is ~ $180k, so the mortgage would be around $1000 a month, so the 2 tenants alone would be more than enough to supplement it and the three property taxes. To me this seems like a very good deal as the property will be making money the second i take it over IF the tenants stay. The building was originally built as a law firm and was repurchased by someone in 2006 as the law firm left and built a new larger building. It has been on the market for just over 3 months with no offers. I feel like im missing something here and that this is too good of a deal. The building isnt perfect and needs some updating (built in the 70s) and probably a furnace. The taxes are $4600 a year and considering all this it seems like a good buy without even running my business from it. My biggest worry is the tenants leaving but they dont appear to be eager to leave from what only the real estate agent told me (can be bs). How out of line would it be for me to contact them and ask if they like their building etc? Any help is greatly appreciated. Even if its just a book recommendation it will help a lot ❤️ [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 05:53 AM PST Hi I am an individual investor and I am interested in investing in commercial real estate. I am starting out, does anyone have any good sites or resources I can use to brush up on how to invest in commercial real estate? Living in the philadelphia area [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Why do developers use so much debt? Posted: 31 Dec 2019 08:08 PM PST I know a few developers in my area who do subdivisions and condo buildings, I've looked through some of their finances and it seems like they use an huge amount of debt compared to investors. It would seem like they are over leveraged on paper, if there was a market downturn they would be screwed. How are they able to use that much debt for an asset that doesn't even exist? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Selling agent has not picked up For Sale sign or lock box 3 weeks after closing Posted: 31 Dec 2019 09:14 AM PST My wife and I recently closed on our first house. But the selling agent left the "For Sale" sign on our lawn and an "smart" lock box (the kind that uses bluetooth to give access to the door keys) attached to the front door handle. Our agent assured us that the selling agent would retrieve the sign and lockbox soon after closing. But it's been almost 3 weeks now. We've had our agent reach out after 1 week, but no response. The lockbox is attached to our front door handle, which I'd like to replace since it shows a lot of wear. But I really don't want to install the new door handle around the lockbox since it may scuff or scratch the new handle. We already removed the sign from the lawn and leaned it onto the side of the house, but I'm unsure what to do about the lockbox. We took the keys out and changed all the locks, so security is not a concern. I just don't want their stuff on my property. What are my options here? Can I threaten to throw their stuff in the garbage? Threaten to charge storage fees? The house is located in Texas if that make a difference. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 06:55 AM PST Closed in September 2019. Our monthly payment from the loan servicer starting 1/1/19 was ~$300 more than what we had been paying. I contacted the loan servicer and they said the property taxes are higher than they were originally told. So they paid that $2.2k shortage out of pocket and now I owe them. Is this normal? I feel slightly annoyed that this wasn't accounted for in the final numbers I was given at closing. Can I go after the title agency or mortgage lender for this miss? Thanks. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 01:04 PM PST So we have a house currently, and due to lack of bedroom space primarily we will need a new home, as we are expecting baby number 3 now. We are meeting with a realtor next week, but I'm just trying to go over our options right now. The other kids are 2 and 1,and wife and I are busy as shit. When I have a day off, I clean, but due to the nature of small children it doesn't stay that way. Honestly, I just can't imagine any situation in which I can keep this house permanently presentable. When we got this house we both worked. At the moment, I have a slightly better job, but wife is an intern in a masters program. What steps are likely here? I don't know how this stuff works, but is it possible the bank will give me a second, temporary mortgage? We got savings enough for a second 20% down payment on a house. It would just be so much simpler to buy a house, move, and then sell this one. Will we even be able to get another mortgage given we only have one paycheck at the moment? Alternatively, we could move in with my mom for a month or 2,and try to sell and buy concurrently so we don't have to move all our junk twice. But, I mean, if I could avoid living with my mother that'd be great. If I get everything spick and span for an open house or 2,is that enough? Just trying to get my mind straight on what to expect here. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 03:00 PM PST Any good examples of a home buyer guide that can be presented when meeting with a potential client? I need additional ideas than what's already provided at my office. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 12:32 PM PST When you rent from Invitation Homes, be extra careful on move-out. They make up the weirdest stuff to eat up your entire deposit. This is just picky petty crap.
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| What can I do with the equity in my rental property? Posted: 31 Dec 2019 10:43 AM PST I've got a 6yr old townhome in a very desirable suburb of Charlotte that I rent out (I bought it new for myself but rent it out as I've moved to California shortly after moving in, and still reside in CA). Extremely easy to rent out and I net about $150 on it after property management and HOA fees. I've currently got about $80-90k equity in it and I can't help but feel that I should be doing something with that money (~$240k currently value, owe $140k @ 4.25%). As I've already got a local property manager that I trust and as a Charlotte native know the area extremely well I am curious if I am in a good position to continue to invest in the RE market in Charlotte. Some questions that I have : -Can I get HELOC on my townhome if I do not live there? What other options exist for me to access the equity? Any good resources to learn more about these, would love to see some real world examples -How do you decided to invest in value add properties to flip or building a portfolio of rental properties? I really enjoy exploring the RE market and like the thought of value add but fear that doing it remotely might be difficult. -Any suggested websites or books that are a must read for someone in my position? -Anything else I should consider or am missing here? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Sold property in Oct. Got check today. Is it 2019 income or 2020? Posted: 31 Dec 2019 09:26 AM PST So my wife and I sold an investment property at the end of October. After clearing up some tax stuff with the state, we finally got our check in the mail today. So it probably won't be cashed until the New Year (Unless i ran to the bank today). Does this count as 2019 income because that is when the property sold, or would it be 2020 income because that is when we actually got the money? We're trying to decide if it makes sense to cash it now or Thursday. Other than that sale, my income in 2019 and 2020 wont be much different, maybe 10 to 20 grand more next year. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 03:03 PM PST I just moved into a studio about a week ago (subleased from a girl who was moving out of state) and the toilet was working fine until yesterday (the bathroom is tiny but that's no biggie) when there was water starting to leak. At first, I assumed that it was fine and that it would go away eventually but it has gotten worse. Last night, the toilet would not stop making noise so I checked and the water lever was stuck. This afternoon, the toilet refused to flush whatsoever, after I had used the toilet. There's still TP and stuff floating around in the water and when I pull the flush handle, water fills to the brim and nearly overflows. There's currently a giant pool of water all over the ground (this water is clean but I am unsure of where the leak is coming from??). There is so much water that I don't have enough rags and paper towels to even mop it up - I don't know what to do at this point. Should I contact my landlord? For a situation like this who is responsible for the cost - me (the tenant) or the landlord? It is NYE and 4pm where I am and I'm afraid that I won't have a working toilet until 1/2. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Where to buy quality fixtures at discounted prices? Posted: 31 Dec 2019 01:59 PM PST I need light fixtures, blinds, bathroom fixtures, doorknobs, etc for a house I'm flipping. Of course we want to spend as little as possible, but it's more about getting better quality for a low price. The house is in an area where things like a kitchen faucet with a fancy sprayer attachment and soap dispenser is a attractive to buyers because it's typically not available in their price range. I really want to avoid just buying the lowest-tier products with that shiny nickel finish from Home Depot if I can help it. Are there online stores that sell discounted wares or do I have to go digging around in the local overstock stores? It may not be worth it if I can't just sit down all at once and place a big order. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Advantages to a longer close?? Posted: 31 Dec 2019 01:47 PM PST I'm in negotiations right now on a house (first home) and the offer sheet includes a close date 90 days from now. Feels like a lifetime until we're able to move in, if the offer is accepted. Is there any advantage having a longer close vs the standard? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| looking to sell in the near future and not sure where to start. any advice? Posted: 31 Dec 2019 07:31 AM PST apologies if this isn't the appropriate sub for this. i have absolutely no idea where to start. i "inherited" my dad's house after he passed (i actually had to purchase it from his estate since it wasn't left in his will) and i sort of regret buying it. he passed unexpectedly 2 years ago. i am looking for any sort of advice at all. im concerned about the amount of work it needs to be marketable. i had flooding in the basement this past fall due to groundwater seeping up from too much rain and removed the carpet myself. i know that the carpet in the main living area needs to be removed because of past pet soiling. however i was told by the attorney handling my dad's affairs when he had passed that i shouldn't put too much work into sprucing the place up since a potential new buyer would want more than likely want to do it themselves and it'd be kind of a waste. i've currently got a mortgage under my name on it as well. i guess what i am looking for is what do i need to know/be aware of if i want to sell this place. i feel like i'm in way over my head and incredibly intimidated and just not sure where to start. i went from living at home to owning it suddenly without ever even having my own apartment so i would be extremely grateful for any advice/resources someone could provide. thanks! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Posted: 31 Dec 2019 09:43 AM PST I work for a chemical company that supplies the construction industry. We use census data to forecast supply/demand. According to my data: in 2018 there were 1.249 Million homes started construction in 2018 there were 1.185 Million homes completed construction in 2018 there were 965,000 homes sold or on the market. My question is, what happens to the 220,000-280,000 house difference? are there just hundreds of thousands of empty houses across America waiting to be finished/sold? Any clarity on this would be greatly appreciated. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| Taking a loan against asset (co-owned asset) Posted: 31 Dec 2019 12:54 PM PST I'll keep the question simple for now and go from there. Is it possible to take a loan out against a property that you own 50/50 with another individual, but you take 100% of the risk and liability of that loan? [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||
| I'm in town staying with my aunt for a couple of months. Can I help her? Posted: 31 Dec 2019 12:25 PM PST My aunt seems super busy with her real estate jobs. Sense im staying with her for a couple of months and I have free time is there anything I could do that will you help her out majorly and make her job easier while I'm in town? [link] [comments]  |
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