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Looking to buy in my college town

Hi everyone! I’m a 20-year-old architecture student hoping to buy a property in my college town within the next year or so, and I’m looking for advice on what I can do right now to put myself in the best position possible. I know some people may think this is unrealistic, and that’s okay. I’m not looking for people to tell me to give up. If it doesn’t work out next summer, I’ll still have built savings, improved my credit, and learned more about the process for when I am ready. I’m trying to be intentional and set myself up for success. A little background: I’m an architecture student with minors in sustainability and construction management. My family has years of real estate experience and multiple family members have real estate licenses, so I have people who can help me evaluate properties and avoid mistakes. I currently rent in my college town, and my lease ends next summer. My goal is to buy a single-family home, condo, or small multifamily property, live in it for at least ...
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5% or 4%?

So, looking at selling my house for $450k and looking at agent fees...6% shared seems rather steep to me. I'm an easy seller and the house should sell pretty quick, it's in good shape. Basically, I've lived here less than a year and i HATE the neighborhood. When i bought the house, it had a lot of repairs that needed doing, so I've put in $30k. Bought the house for $340k. 450-340=110. 110-30= 80k. Minus closing costs estimate $15k. 80-15=65k. With realtor fees at 6% split between buyer agent and my agent would be 27k. 65-27=38k. And that's not including all the other associated fees and any potential concessions. At 5% agent split its still high at $22500. At 4%, $18k. Now I don't know about you, but if i had an easy sell house, and they closed in 45days, i would be pretty stoked with $9000 for that work. Is it unreasonable to ask for 4% split? I know ppl think it narrows the buyer pool because buyer agents don't want to show houses that are low commiss, an...
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Would we save money building a house/ADU on land and renting out current house?

i’ll do my best to explain well. we live in a small rural town in KS, thankfully there is a nice private college here. the house we live in is an ideal college renting location (2 blocks from school) we bought it as a foreclosure for about 40% current value. we could realistically rent and profit around $2k-2500 including property tax (5 br). we love the house and location but we also own farm land about 10 mins out of town and really want to move out there. it has water and electric at corner, but no dwellings, it is wide open flat. our family is growing (2 kids, 1 on way). trying to think of ways to grow income. I know this is so dependent on area, just trying to get idea, is it realistic for us to move out there And live in modular home, ADU, manufactured home, etc that has a lower monthly mortgage than the rent/profit of this home. does that make sense? In other words, do you think we can move out to our farm, build a cheap af home (we are ay okay with it being small for now like ...
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Prime Home Buyers USA - Legit or Scam?

Is this a legit company? I found 3 LLCs in CA. Random miss spellings across the US. As a buyer, is it even something to be worried about? Like I feel for the misguided sellers for sure, but hell it’s a good deal. submitted by /u/Legal_Audience_4931 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uxrpra/prime_home_buyers_usa_legit_or_scam/
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Avenues to buy land for campground, or possibly existing business.

I am interested in buying land or possibly an existing business. So far I am using realtor.com to scout for prospects. Are there any other sites I should be using to help find what I'm looking for? On a lot of the niche sites I've found properties listed that have been off the market for ages, making it a complete waste of time. TIA. submitted by /u/K1LLERM00SE [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uxewal/avenues_to_buy_land_for_campground_or_possibly/
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Where do I get started: I want to move, be a renter and rent out the house I own

So this might get some flack here, but here's the short story: I own a home. I bought it in 2020 so I have an insanely good interest rate and don't want to lose that. I don't like where I live (it's not dangerous or anything, it's just boring). I live in south NJ. I want to move to north NJ closer to NYC. I can't afford to buy/own two homes, so my idea would be to rent either a home or apartment up there. Because it's such an expensive area, I feel like it would be a good idea to rent out my current home to help pay for up there. I know this is nonsensical to some people: renting out a home I rent just so I can rent somewhere else myself, but I'm just really unhappy with where I decided to buy and want to live somewhere that makes me happy. This seems like the most financially feasible way to do that. 1) So my first question I guess is...what is the actual order of operations for this? Obviously saving up so I can afford a few months rent up there w...
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Looking for some perspective (rent vs sell)

my wife, toddler and myself recently moved out of our home that we owned for about five years now since the end of COVID. We moved to an area much closer to family and are renting out a home as the area is significantly more expensive than where our house is and it was the quickest path to get into before growing our family further. the idea was originally that we would rent out our current home and then eventually purchase in the new area after building up some money, ultimately having to sell our home for the down payment. Right now it looks like we could make about 500-600 dollars of profit per month against the mortgage (we got around 3.5 percent) which would go towards the new home rental if we rented out our home. But the market has been slow and a part of me wonders if it’s worth the hassle to rent it out, even if we intend to use a property management company, if we ultimately intend to sell it within a few years anyway and purchase in the new area. We do have a fair amount of...
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How fast can I realistically sell my house if I know the buyer?

We bought our first house 3 years ago and have a lot of equity so have decided to sell, become debt free, and rent for a year or so to stack up money for our dream property. Timing is an issue and we want to sell soon because the buyers lease is up soon (2 months) and we would need to find an apartment asap. The buyer is one of my personal friends that was looking to buy his first home and our timelines worked perfectly. Providing financing is already approved and price agreed upon, how fast can we actually close on the house? We will be hiring a real estate lawyer to do all the paperwork. I know the inspection and appraisal can take a while. submitted by /u/savageshaft [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uvj1ge/how_fast_can_i_realistically_sell_my_house_if_i/
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Should we sign tomorrow?

We are the sellers of a home to a buyer w FHA funding. The inspection caught some minor things that we fixed. Next thing we know we are closing (pre signing)on Tuesday. They are closing on Wed at 10 am. My agent says that no one has confirmed the house is passed now for funding. The lender and the buyers agent have not said a word. Do we sign tomorrow? submitted by /u/AstronautAshleigh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1uvhv53/should_we_sign_tomorrow/
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Now that my house in on market, debating parting ways with agent. Need advice.

Hey all, first time home, er, seller here. And am looking for advice if I'm overreacting about my perceived poor choices of my realtor, or if I'm on point. And if asking for a mutual parting of ways now that the house is on market (as of Friday) is a good idea or not. Feedback from any professionals if agents themselves a bonus. Basically, I've felt like I had to do most of his job for him, and I don't feel confident that he feels confident in his actions. Basically, my complaints are: -house was ready to be put on market June 24. He suggested last minute we wait until after the July 4 weekend, with a brief "coming soon" period, because the 4th of July weekend was super dead for showings and didn't want tonstaxk DOM. He got this from ChatGPT, I found out later. Sounded liie good advice initially, I question it now, especially since it put us out of the June market. -ive had to initiate almost every interaction. Home was supposed to go on as "coming...
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