San Francisco rents plunge as tech employees abandon high-priced city to work remotely Real Estate |
- San Francisco rents plunge as tech employees abandon high-priced city to work remotely
- Realtor Fees are BS
- [VA loan] USAA or Navy Federal?
- Advice for a 22 year old looking to start REI
- Did my agent(buyer) screw me?
- Is it necessary to have a high down payment to buy a home?
- First time homebuyers buying a "fixer upper" - time to walk?
- Gilson real estate in California is a sham! They are a slum Lord. They rent destroyed and cockroach infested properties!
- Non-Disclosure of Asbestos in Purchase Agreement
- Is it a bad idea to buy a house at the top of your approval price.
- Pros/cons of buying a condo?
- Are these possible ways a black real estate investor can help the black community?
- Best way to find property investments in Philippines as a foreigner
- Closing Costs in Washington State
- Do the state real estate boards/commissions actually help the public or do they just protect the licensees?
- Buy and sell a house every 5 years as an investment strategy?
- How do I find an investor, and what does the process look like to sell to an investor?
- Can a Canadian partnership or incorporated business secure an owner-occupied loan if both partners live in the house?
- Drain field Placement
- What factors should be considered when thinking home building or buying a home?
- Sewer Agreement - Should we walk?
- Leasing Home Back to Sellers - Damaged Oven (TN)
- Selling my home-how often should realtor be communicating with me?
- How to RE Developers Live when they are working on their First Deal?
- Bird dog.
| San Francisco rents plunge as tech employees abandon high-priced city to work remotely Posted: 09 Jun 2020 11:17 AM PDT Thoughts? I'm gearing up to leave myself if my landlord will not reduce my rent. [link] [comments]  |
| Posted: 09 Jun 2020 05:12 AM PDT Don't want to offend anyone, but just want to vent about how realtor fees are absolute nonsense. In Boston at least, renters are expected to pay realtors one months rent when signing a new apartment (I'm talking about things like brownstones not big buildings). That is SO MUCH MONEY to pay someone for doing a job I essentially am doing for myself (I end up finding all of the apartments myself by looking on Zillow etc) and all the agent does is let me in to give me a tour which mainly amounts to them stating the obvious about exactly what I'm looking that ("As you can see, this apartment gets great light!... such an incredibly spacious bedroom!...etc). Either landlords should be the ones paying the realtor fees when someone signs a lease, there should be a system in place that lets me see the apartment on my own, or realtor fees paid by renters should be like 60% less. These fees are such a turnoff that I end up looking at more "managed buildings" that don't have realtor fees since the effective rent after a realtor fees usually makes the effective rent unpalatable. EDIT: This is how it works in boston from my experience. Seems like this is not how it works in every city. Tl;dr Realtor fees are way too much for high for the work required - at least in my city (1 months rent). [link] [comments]  |
| [VA loan] USAA or Navy Federal? Posted: 10 Jun 2020 04:20 AM PDT Does anyone have strong opinions one way or the other? Hi everyone, first time homebuyer here! USAA is quoting at ~3.5%, Navy Federal at ~2.9% for a 30-Year VA Loan. We currently have other accounts (i.e. insurance) with USAA, but does the difference seem significant enough to go with Navy Federal, all other things being equal? Thanks for your input! [link] [comments]  |
| Advice for a 22 year old looking to start REI Posted: 10 Jun 2020 02:20 AM PDT I'm 22, currently self employed.. I have currently about $40K in savings, looking to close this 2020 year off with about $100K saved up. The industry that i'm in definitely seems to be looking like it's not going to last so i'm just looking for my future here.. I flip used cars as well on the side so i'm generally pretty experienced with "fix and flip" model. I'm currently working on fixing my credit score at the moment as well. I live in Los Angeles, CA (I know RE is super expensive out here, i'd be willing to invest in nearby states as well) So advice that i'm seeking pretty much is, I'd like to start REI once I have about $100K in the bank, with putting $70K towards a down payment on an investment property leaving the $30K just for personal spending and any extra bills that may come about out of owning a property. Would this be a smart move? and if so where would I start? I am abit lost on that end. [link] [comments]  |
| Posted: 10 Jun 2020 02:12 AM PDT So I found this waterfront beach house for below it's property value. I called my local agent to contact the seller and the offer(was going to pay in cash). When he entered the address, he says on the phone "holy shit that's a good price". The next day, I get a call from my agent saying it's sold. I check zillow and it shows pending. It was listed for 2 days. I feel like my agent went behind my back and introduced this listing to someone he knows. I was willing to pay the full price, wasn't going to negotiate and pay full in cash. Why would the seller not consider my offer? Should I contact the seller agent myself? [link] [comments]  |
| Is it necessary to have a high down payment to buy a home? Posted: 10 Jun 2020 01:40 AM PDT Hello! First time poster here. I've been looking into homes and trying to set a budget for a future home! I live in California, right outside of Los Angeles. I'm looking to buy a home by the end of next year because I feel like it's the best time now. I currently have a student debt of 20K, a car loan of 11.5K and maybe around 4K in CC debt. I also have 4K in savings. I work as a Registered nurse and take home around ~75k/year after taxes. I plan on paying off my car loan by the end of next year and should be able to pay off my CC soon. I need to budget properly. Is it necessary to have 20% down? I spoke to a broker and she said because of this pandemic, lenders are looking at steady income and a good credit score/history. Current credit score is over 700. What do you guys think of this market and that advice? Can I get away with a 3.5% down payment? Should I try to get rid of my student debt first? I look at renting in California as a waste of money. I currently live in a manufactured home with roommates and saving as much as I can. Looking for property in Ontario/Montclair, CA. Min $300k - max $450k. [link] [comments]  |
| First time homebuyers buying a "fixer upper" - time to walk? Posted: 10 Jun 2020 04:58 AM PDT We are a first time homebuyers looking to purchase a 1920s home that needs a ton of work in Queens, NY. After our home inspection I am starting to worry that we are in over our heads. This area of Queens is always a sellers market. Fully renovated homes of this size typically are listed at over $1M. Sellers accepted our offer of $860k and we've budgeted for $100k of initial renovations and repairs. We thought that $100k would go to a new kitchen, two small bathrooms, refinished floors and paint. The kitchen/bathrooms are functional, but old. We wouldn't be moving walls or changing layouts. After the home inspection we are rethinking this. There are a ton of issues:
In addition to all that fun stuff, it turns out that the sunroom in the home was an illegal addition and sellers are not willing to get a C of O for it. We are planning to ask for a concession and walk if we can't get it. We've been told that getting an architect and getting the C of O ourselves could run us $20k and they may not even approve it and we'd be stuck tearing it down. I'm doubtful they'll give us the concession for the C of O but even if they do, is buying a house with this many problems a mistake? We like that it's an old home and know we're going to have to keep investing time and money into it but I also don't want to constantly be running into new problems. [link] [comments]  |
| Posted: 10 Jun 2020 04:51 AM PDT Gilson Real estate has refused to address any complaints. I've lived with thousands of cockroaches. I've been sneezing, coughing up and defecating blood since I've moved into this unit. Oroville CA code enforcement has been paid off to negate any fines, even though they have issued abatement notices. Despite my physical proof of cockroach infestation and the code enforcement officer seeing the infestation first hand, nothing has been done. I've been forced to live in a building infested. Over 2500 cockroaches captured in the 100 days I've lived here. I am slowly dying here with no recourse. Help me. I begin protesting with a bullhorn tomorrow. [link] [comments]  |
| Non-Disclosure of Asbestos in Purchase Agreement Posted: 10 Jun 2020 04:46 AM PDT First of all, I am in North Carolina. I made an offer on a house that was accepted and we are currently in Due Dilligence. This particular house is for sale by an actual realtor, by the way. In the disclosures, figure 25 asks about hazardous materials, where asbestos is included. Their answer to this figure is "No." I found out by talking to a contractor who worked in the crawlspace that the homeowner would not let him cut through the kitchen floor because the flooring is linoleum and contains asbestos. This would cost perhaps $20k to remove from the house. The homeowner covered the linoleum with a wood-grain laminate flooring and did not disclose any of this to us. Is this a breach of contract? In North Carolina, your Due Diligence is not refundable unless there is some sort of breach of contract. I am a bit upset that this was hidden from us in the disclosures, especially since the seller is a licensed realtor. [link] [comments]  |
| Is it a bad idea to buy a house at the top of your approval price. Posted: 10 Jun 2020 12:54 AM PDT We are first time home buyer in a fairly expensive area. There is not much in our price rang and when one comes up it goes fast if it is in fair shape at all. Mostly properties that need a lot of work are often seem to be an n out price rang and even these can go fast. We are approved for something slightly higher than we expected. Which opens up a bit more options some of are nice move in ready, but at the high end of what we were approved for. Is it best to just keep waiting for a house we know we can comfortably afford? Is it dangerous to buy at the top of your approval price? [link] [comments]  |
| Posted: 09 Jun 2020 09:59 PM PDT My gf and I live in a much bigger city than we grew up in. Of course, the prices of houses are 2 or 3 times as much as they would be for the same house in our home town. We're tired of living in apartments and want to buy a house. For our price range, there aren't very many houses in locations we like, unless we buy a Reno. I don't mind working on certain things but I have very little experience with working on houses, so banking on me redoing a whole house isn't realistic at this time. In looking for places to buy, I've found there are way more condos available than houses. I can see how owning a condo and doing some updating could turn into a rental property/flipping. We're fairly young and don't have a family yet so we are flexible. Nobody in my family has ever owned a condo or owned rental properties so I'm hoping for some help - personal experiences? regrets? Advice? Resources? TL:DR first time home(condo) purchase a good idea? [link] [comments]  |
| Are these possible ways a black real estate investor can help the black community? Posted: 09 Jun 2020 11:43 PM PDT BEFORE READING, I would like to note that I am NOT a REI. Just curious. A lot of great suggestions in both threads. I have a few follow up questions
[link] [comments]  |
| Best way to find property investments in Philippines as a foreigner Posted: 10 Jun 2020 03:22 AM PDT Hi, I'm looking to invest in Philippines' real estate as a foreigner. Due to limitations in owning a land, I'm leaning towards purchasing a condominium unit particularly in Metro Manila for some rental income. I'm just starting out with my research but is also curious if anyone here has done this before. Would appreciate all recommendations I could get. Here are some of my questions:
Thanks! [link] [comments]  |
| Closing Costs in Washington State Posted: 09 Jun 2020 09:43 PM PDT I'm a first time homebuyer and I just received my Loan Estimate from my lender. The closing cost costs are much higher than I anticipated and I am wondering if some of these are "normal" when purchasing a condo. The condo I am buying is $280,000.
I've done some research on the internet and there's not much information that's been helpful to me. I'd normally ask my lender but she's dealing with a family tragedy today and tomorrow so I thought I'd reach out to the r/RealEstate subreddit for advice and opinions. Thanks in advance! [link] [comments]  |
| Posted: 09 Jun 2020 07:07 PM PDT |
| Buy and sell a house every 5 years as an investment strategy? Posted: 09 Jun 2020 07:01 PM PDT Some realtor on here advised someone to buy a house, live in it, sell it in 5 years, buy a new house with the profits, and repeat every 5 years. The general guidelines I've heard of is to rent if you plan on spending 5 years or less in a house because otherwise the buying and selling costs eat into your profits too much. The realtor's advice seems to be the exact opposite of that. Ignoring any personal preference for renting versus buying and holding versus buying and upgrading, is that a good investment idea? [link] [comments]  |
| How do I find an investor, and what does the process look like to sell to an investor? Posted: 09 Jun 2020 07:56 PM PDT We are ready to move and want to sell our home without having to paint, show it, and spend a bunch of time on it. We are cool with accepting about $30k below zillow appraisal estimate. How do we find an investor, and what does an investor do? Appraisal? Haggle? We are really just ready to move and want something low maintenance. [link] [comments]  |
| Posted: 09 Jun 2020 11:33 PM PDT I am an American looking to buy in Toronto which would subject me to the 15% non-resident speculation tax. In this scenario, I would form a partnership or business incorporated in Ontario with a Canadian partner to avoid the tax. We would then buy a 3-4 unit multi-family property and both live in it. Could our theoretical corporation secure an owner-occupied loan? Is the Canadian corporation safe from the NRST? I am unfamiliar with canadian loans/real estate. Feel free to tear me apart if everything I just said is incorrect. [link] [comments]  |
| Posted: 09 Jun 2020 10:49 PM PDT Would you walk from a transaction if it were agreed upon to have a septic drain field underground and then you come to find out that it was placed above ground because the water saturation below would not support it underground? Anybody have any experience will above ground drain fields? [link] [comments]  |
| What factors should be considered when thinking home building or buying a home? Posted: 09 Jun 2020 10:41 PM PDT I'm looking at buying a house but I'm also seeing a few open lots in the neighborhoods I'm driving through. I've read that it's sometimes more cost effective to just build a home in some situations. If anyone has done this would you share why you decided to build? [link] [comments]  |
| Sewer Agreement - Should we walk? Posted: 09 Jun 2020 10:03 PM PDT Hello r/RealEstate, My fiancé and I are first time home buyers and we just got an accepted offer on a home we both really love and is within our budget. Along with the offer came the sellers disclosure and a sewer agreement. At first glance the sewer agreement didn't raise any flags because the home is in unincorporated so we assumed this was normal. However speaking with our attorney she confirmed that there are some issues with the agreement that requires some further investigation and could potentially be a costly decision down the road. Basically the agreement states that the owners of the property (4 owners named) are responsible for the maintenance and repair of sections of the sewer system that are located in the public right of way. Does anyone here have experience with this kind of agreement? Is it common in unincorporated areas? What are the potential cost implications? And what if the owners don't all agree to it (there are 2 missing signatures)? Below are some facts we know:
Again, if anyone here has experience with these kind of agreement or can offer insight on where to search for answers I'd greatly appreciate it. We have until next week to back out according to my attorney so I need to figure out a decision by then. Thank you Reddit! [link] [comments]  |
| Leasing Home Back to Sellers - Damaged Oven (TN) Posted: 09 Jun 2020 03:50 PM PDT We closed on a house back in April. The sellers have been renting it from us since. In short, they've been pretty awful to deal with. We move into the house in a few weeks. We found out that the primary oven in the kitchen went out and they won't pay for repairs or if needed, a replacement. It's a nice unit and would likely cost $4k to replace. It was working when we did the inspection and it's noted as working. It's probably out of the warranty period, but it can't be more than 5 years old. Our contract is a little vague, but it reads "seller shall be liable for the expense of repairing any damage to the property caused by the seller or seller's family, excluding normal wear and tear". Wear and tear seems like an extremely grey area. Have any of you encountered a similar situation? [link] [comments]  |
| Selling my home-how often should realtor be communicating with me? Posted: 09 Jun 2020 05:43 PM PDT We put our home on the market on Sunday. We've had 4 showings. Which is nice but we haven't heard anything back at all, in terms of feedback (he said he would gather feedback and relay it to us). Now perhaps there's just no feedback go share which is fine. But that got me thinking, how often should I expect our realtor to check in with us? [link] [comments]  |
| How to RE Developers Live when they are working on their First Deal? Posted: 09 Jun 2020 09:28 PM PDT This may be a dumb question, while I plan to work for someone before being a developer, I'm just curious how developers make a living and/or pay bills while working on a project before the construction phase? It's seems to me that the money only comes after the property or units are sold/rented out, so before all that is the a source of income that developers get even before the construction phase? Especially if it's a developers first project. [link] [comments]  |
| Posted: 09 Jun 2020 09:27 PM PDT I have heard that a "easy" way to make a few bucks is by "bird dogging" any advice? [link] [comments]  |
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