Ignore all the relationship stuff for now, and let’s say I wanted to own or renovate a home with the shared spaces of a kitchen, living room, kids bedroom/bathroom, even an office, but with 2 separate bedrooms and private entrances and bathrooms? Maybe a kitchenette in each but it’s not necessary. What would be the most cost effective AND quickest way? Find a home with a layout that can be easily converted/renovated (add an outside door, bathroom if needed, ect)- I like this idea the most. Find a single family home with a decent backyard zoned for an additional unit and buy one of those studio homes from amazon or have a builder make one that includes a full bath. But does this need to be legally approved by the city and can that take a long time? Find a duplex (this can be more difficult (depending on your area) Start from scratch new build We have around a million dollars all in, which might sound like a lot, but we are in a second tier very popular city that is right below w...

I'm trying to weigh my options with a vacant lot next to my house. So I live up in the foothills in Los Angeles, and managed to buy the vacant lot next to my house. It wasn't crazy expensive, and we used a HELOC to buy it. There's a few pros and cons of the lot. Pros: Quiet street, nice view, there's a natural stream on it. Up in the hills and could be very picturesque. Cons: Not in the most desirable part of LA. We are far enough up in the hills that we have to be on septic instead of sewer. So here are the options as I see them. But I'd love some feedback and ideas on what to do. Build an ADU and rent it out. My wife and I's alma mata is near by, so we would probably try to rent it exclusively to students there. I feel like this would be the safest way to avoid most "renting pitfalls". The septic gives me a bit of pause to be honest though. Build a house there and sell it. I feel like this is the smartest and easiest option. Just build a nice...

Currently looking to use my GI Bill and want to move to NYC but don’t know how to best set myself up situation wise. Initially I was ok with renting (as my rent money will be coming from my GI) so money never really factored in. But after thinking, it would be smarter to actually buy a property to have something tangible that the money is going to Is anyone familiar with any resources or materials I could use to research nyc specifically? In terms of bear markets and neighborhoods for investing in? submitted by /u/mdafidel1 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1wn6u1k/investing_in_nyc_real_estate/

My wife and I have been looking to buy a fully renovated home originally built in 2011. The original roof is a 3-tab shingle style, and it is at the end of its lifespan (15 years). I am worried I'm going to face some insurance issues, as well as staring at a roof replacement in the foreseeable future. It's in a development, and there are only a few houses with original roofs left, this one included. This house has been on the market for a full year. It started at 450k and has, over this year, gotten down to 380k now (originally bought by an LLC about 2 months before posting a year ago). Is it unreasonable for me to ask for a credit to replace the roof, or to have it replaced before closing? Located in SC. I'll add I'm also using a VA loan. submitted by /u/ImportanceBetter6155 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1wn30t9/looking_to_buy_house_with_15_year_old_3tab_style/

In Indiana. I really wasn't all that enthused to sign a representation agreement yet, but circumstances forced me to move quick (only to find out later it was all for nothing, but that's another story). So here I am, bound by a buyer's agent contract with an agent I haven't heard from since 8/23. He showed me a handful of properties that day, one of which was a strong contender, the rest very much were not (and each met only one or two each of the various requirements and preferences I'd shared). That day ended with a plan for him to investigate two other properties of interest and arrange showings. He was upfront at that time that he had pre-planned vacation the following week. 2 weeks later I followed up, reiterating 1. that the one property we'd seen was of strong interest and 2. I'd still like to see at minimum one particular other, possibly an addition one or two. I received no response to this message. Since then, the "strong contender" i...

Hi all! New to this particular sub and looking for a little guidance if anyone has the time and knowledge. Ok! A little back story... Currently own a house, and am in the process of getting the house ready to list. It's an ok house for someone, that someone just wasn't me and my husband. Found a house in the same neighborhood with the layout we want, and the things we want. House has some very obvious problems, and is owner/agent. She shared the punch list from a buyer who backed out, and some of the things are legitimate. She's addressing a few of the big, 'duh' things, but leaving most of them and basically selling as is. The things she is not addressing are: She had the roof replaced, but didn't address issues with the built in box gutters, which is about 3k to repair (had a contractor determine this price). Two windows have glass sliding out of the panes, and they'll need to be removed and re glazed (house was built in 1921 and has original windows)...

My dad owns a house that was my mother's parents house. He is too old to deal with it. The last renters moved out and we decided to sell it. My sister and I are helping my dad. My sister retained a realtor that she knows, and my dad signed a contract with her. The first thing the realtor did was get inspections and write up disclosures. We had not even gone over ourselves to clean up and look at the property (it is in another town). Similar houses in the area are priced in the $630,000s. It is a 55 and older community in a HCOL area. We planned to put it on the market at $595,000, as it needs a roof and gutters. She told us she had an offer for $525,000. We laughed and said, "no." We were there with a contractor seeing what we wanted to fix or update (it has not been listed yet), and she called with a new plea of how low we can go. We said $575,000. She said $550,000. So we said $562,000 split the difference. She said her guy was firm at $550,000. Both my sister and I ...

Hoping to keep this short but I want to add some details for targeted advice. Currently renting after divorce forced a short sale 2 years ago. I spent the last year paying off almost all my debt, and have $30k saved for a downpayment on a home. My ex wife managed to get an FHA loan through some loopholes and the loan officer is trying to get me through for an FHA loan based on the same loopholes. If not I do still have SOME form of VA eligibility left although its a lot worse due to the short sale (max $285k and must put 5% down, plus funding fee is higher due to having bought 4 previous homes through VA). I have 2 kids (9 and 7), and am looking at homes below $350k but really want to be around $330k. Here is a breakdown of my financials: Income: 122k Debt: $250 child support and $250 student loans Current rent: $1750 Current savings per month: $1500 So I'm saving $1500 a month, and I also have side work that pays me UP TO $2000 a month, but I don't want to rely on it becaus...

I found a home I love, by chance. New home build on the "quick move-in" list. Price was roughly $400k, sqft is a bit smaller than others in the build community, around 1800 single level (others are around 2200-2500, selling $450-$500k). Hasn't sold in 3 months. They've lowered to $360k. Comps are roughly shy of $340k and they're practically begging for an offer. I want to ask 10% under current asking, which would be ~$325k. The lot size is a bit smaller than the others, 35 rather than 40. For a single person or new family it's perfect and would appreciate well. Would I be silly to offer this? I mean, worst they say is no and counter, right? submitted by /u/knottycams [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1wlxokb/is_asking_10_under_asking_price_bad_new_build/