Hi Y’all! I just graduated from college last December and am seeking opportunities in commercial real estate ( in a market like this smh). I recently got an offer from a real estate private equity and am currently doing some digging on this company to make sure it’s Bona fide. So I haven’t been able to find too much helpful info about this company. This company claimed that it’s been around since 2009, but I couldn’t find any deals closed by them, or any portfolio listed on their website. Maybe they are keeping a low profile idk. The only information I could find is an award awarded to them by ‘wealth and finance’ magazine ( https://www.wealthandfinance-news.com/ ), a magazine published by a UK B2B publisher called AI Global Media. Is it a legit award/ magazine? They only got 2k followers on Twitter, anyone heard of it? Another information is that the two principals are frequent speakers for IMN (information management network, https://mobile.imn.org/ ) event. Is it a legit/ recogni...

Hello, i am 18 years old and i got interested in the world of real estate. I am learning computer science in university so I do not know a lot about this field. Can you veterans give me some tips/resources that I can utilise to further my knowledge? And are there any influencers/reliable people that give mentoring to mew people? Thanks!! submitted by /u/Br1anRee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbbs8h/hello_i_am_new/

submitted by /u/Positive-Material [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbbnrf/is_westcor_good_title_insurance/

I’m looking to move out west. Think South Dakota, Colorado, Utah. Does anyone know of rural areas that would be good to check out? I’m a big mountain and forest guy submitted by /u/Ramb0SW [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbbnj5/looking_for_rural_location/

My wife and I got pre-approved for a home loan and have been looking around at houses but haven't found anything we would consider a "forever home". A friend of ours told us she had her first home built and recommended we go that route. The only difference is we currently own a home that we owe 60k on, she was living apartment life. Obviously it takes time and money to build a house. How do we go about getting a house built and how do the payments work? Do we put down a deposit for the build to start and when your ready to move in, sell your old place and put those funds toward the new build and start a new mortgage? We wouldn't be able to pay 2 mortgages at the same time... Very confused how this works. submitted by /u/anticlockclock [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbbedf/we_want_to_get_a_new_house_built_currently_owe/

Just looking for opinions (doomsday and sunshine & rainbows). We’re relocating to Florida (Pinellas Co) soon and just put an offer in on a house. It is a well-maintained home, price is high but reasonable for the neighborhood. But, I cannot shake the feeling that we shouldn’t go through with the purchase. We will likely be in the home 3-5 years before selling (due to job transfer). I’m genuinely asking, what would you do? submitted by /u/Iwasbetteratlurking [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbaoc6/to_buy_or_not_to_buy/

Where is everyone from? TX 🇨🇱 submitted by /u/Showmethehud [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbauvc/where_are_you_from/

Can anyone recommend a good primer for a first time buyer/homeowner that covers the fundamentals for someone with no experience with real estate? submitted by /u/JGSimcoe [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gbalui/book_recommendation_for_a_first_time_home_buyer/

Are there any NYC realtors here that can offer any insight on 10% downpayment. I'm looking to purchase a condo or coop in Manhattan but I only want to put down 10%. I don't mind paying the mortgage insurance either. I noticed that many of the listings for studios or 1bedrooms on street easy also say how much down payment is required (many being 20%) . Is this amount negotiable? submitted by /u/NotFuszy [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gba6s5/nyc_realtors/

In Hawaii, we have a large number of condo sales and the price comparisons are pretty straightforward, so it is not difficult for a seller and buyer to agree on a fair price in many complexes. For the average seller wanting to sell FSBO, what is obviously needed is to access a title and escrow company, which can do the steps relating to title search, funds transfer, conveyance. A few property owners can do all this themselves (with buyer doing his/her role); but from the buyer's standpoint, one would obviously want a title company's involvement in any FSBO, especially regarding title search. I'm curious about this topic, and not just for Hawaii: Can a seller and a buyer just walk into a title and escrow company and announce they have a deal and want to purchase the company's services to handle the transaction? Or--and here is my mildly conspiratorial mind working--has the real estate industry pressured these companies not to do the above, because it detracts from p...

Hi! My partner and I are looking to purchase a home. We found a home we really like, that was built in 1885. We expected to inherit some issues with purchasing a home this old, we also expected a long disclosure list. This house is being sold by an investment group. We received the disclosure. Every single line was marked as “no knows issues”. Our home inspection was done and there are a lot of issues. Some are minor and we don’t mind dealing with our selves. I’ve listed below a summarized description of the issues we either are concerned about or aren’t knowledgeable enough to know if we should be concerned. The cost of the house is $150k- 1,305 sqft in Louisville KY Shelby park area. We are willing to negotiate but I wanted to see opinions of people who have maybe found themselves in this situations (on the buyer or seller side), real-estate agents who have seen situations like this play out, or anyone who has insight really. It seems like these repairs will be very expensive and ma...

TL;DR: Should I buy a third house or not? Hello everyone. 32/M with 13 years in the military. Military income is $115k/yr with $40k untaxed every year. Sometimes $65k untaxed during heavy deployments. Looking to buy a third house in my area. Background: All homes in the Florida Panhandle, couple miles from the beach. No debt besides mortgage and AMEX 2 year personal loan ($6k, 0% INT). Assets: Home 1: $70k in equity. (purchased 1/16, refinanced out of VA loan this week (Owe $207k, mortgage ~$1200/mo, 3.25% INT). I rent it short term the six months of every year (I deploy a lot) Income last year: $29k before mortgage payments. Home 2: Co-owned by myself and business partner(Owe $134k, worth $170k, $950/mo, 5% INT) Short term rental: Rented 75% in off-season, 90% in season. First year, but even through COVID, we haven't paid a mortgage payment yet. If I do, it will be half due to partnership. Home 3: Potential ~$420k custom built home on the water (VA Loan, 0% down) on the wate...

Maybe I can get some insight on this sub because I've basically given up trying to get a home and I'm seriously starting to despise every fucking realtor on earth. I understand that they need to be cautious when renting to people, if someone has had two evictions, several repos, or substantial debt they have yet to pay off then yeah, you probably should not rent to them, I understand realtors need to make money too and they can't take charity cases or they would be homeless as well, however when someone lost their home over some bullshit one time but spent 3 years to get their life back on track, get their credit score up to 700, work the same job making 22 an hour for 3 years and offer to pay double the deposite just to have someone say "No evictions, no exceptions, sorry" I seriously just want to slam their fucking head into a wall until their head evaporates. Arrogant, self centered, morally corrupt pieces of shit. I made one mistake and have worked my ass off...

I’m in the process of purchasing a home. I can’t keep my mind of the worst case scenario of possibly losing my job after the loan contingency expired but before closing day. Does anyone know what would happen or seen it happen? I’m scared of being bankrupted by the seller suing me for breach of contract. To be clear I have a job and expect to keep it but I can’t seem to find an answer anywhere online about this scenario. submitted by /u/OnMyThrowAwayITroll [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb8lve/what_happens_if_you_lose_your_job_after_the_loan/

I’m sure it varies by state I just don’t know how common this is. Also to be fair it’s mostly on houses priced pretty cheap since that’s all I can afford. submitted by /u/Prettyphonepete [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb8s3o/im_seeing_all_these_houses_pending_all_of_a/

Amazes me how quickly this thing is making it into the legality of things... submitted by /u/John_Sknow [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb8kg9/dont_add_people_when_you_dont_need_to_i_was/

I close on my new house tomorrow morning.... the sellers have 72hrs to vacate after closing, with a $1500 security deposit for that time. Based on a recent interaction and new information, I have a gnawing concern that they might choose to destroy the house on their way out - a sort of “f you” to me since they seem to think that I paid to little for the house... (They signed the contract...... So I'm not sure why they're so angry now). If that happens, what recourse do I have? submitted by /u/QualifiedCaptain [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb8fsd/worried_sellers_will_destroy_house_before_they/

We are under contract for a relatively unique house within our community. Built in the 1950s it was originally a house and a detached doctors office. The doctor died in the 1980s and they basically locked the office doors and never went back in. In 2009 the current owners bought it from the widow of the doctor and combined the two properties, retiring the office address and adjusting the zoning to be one residential property. The entire property is zoned residential according to the city. The appraisers that our lender chose are apparently using a data source that tells them this property is commercial and requires a commercial appraisal. They also demanded we provide them with comps because they couldn't find any and said that they wouldn't be able to appraise it higher than 60% of contract price. Our lender is not local. They're an internet-focused lender in California. We decided to go with them because we used them for the refi on our current house a few years ago. ...

https://www.fastcompany.com/90499295/devastating-unemployment-maps-show-which-areas-are-hardest-hit-by-covid-19-shutdowns Anyone ideas why unemployment would be going down in these areas? submitted by /u/hey_listin [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb84on/employment_trends_are_regional/

Excuse me if this is a stupid question, I’m a first time home buyer so I’m probably just young and dumb and over stressing over it. But right now I have a credit score ranging from 698-711 across all 3 bureaus. The loan I applied for was a rural development loan for 145,500. I currently make ~35,000 a year on 40 hours but often get overtime. And don’t really have any other debts besides my car. Which isn’t that much. If there’s any other questions that I need to be answered just ask and I will answer. submitted by /u/KurtCobanged [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb7tqw/was_preapproved_for_a_home_how_big_of_a_chance_do/

submitted by /u/lazoned [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb7ik6/does_keller_williams_offer_hourly_or_salary_pay/

My husband and I purchased my parent’s home, and rented out our condo, in an effort to help them out and basically set up a long-term living arrangement where we could help take care of them as they got older. The original plan was to live together in the home (5 bedrooms, 2,200 sq ft) until we could move into a home with a floor plan that better fit our needs. We are looking for a little more separation. During that time, housing prices in my area (Seattle) grew tremendously. Which prompted brainstorming other options. We recently sold our condo we were renting, and I’m curious which is the better investment long term. If we add an addition, or in this case a detached unit on the lot, will it increase the value of the overall lot by the amount we put in? Or is it a better investment to put our resources into an entirely new home, contingent on the sale of our house we all live together in now? To be clear, parents will still be living with us, but wondering what makes better sense ...

curious about real estate market outlook in Miami if anyone has any info. ​ Thanks! submitted by /u/002299 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gb6lzh/buying_a_house_in_miami_is_it_time_or_will_prices/

To try to keep things succinct, we just got an inspection back on the house we're under contract on and it's AWFUL. It's not worth going into the details, but it's pretty awful from top to bottom. We knew it needed work, but you might as well start from scratch. Here's the deal: Seller has owned house for over 15 years. Had on the market in the summer the last two years. It went pending twice- once for 5 days and once for 15. It would seem like other buyers also bailed after seeing this appalling inspection. The one and only thing reported on the seller's disclosure was that there rodents on the property. Not a single other thing. Wouldn't the seller have gotten copies of previous inspection reports? When it comes down to it, I feel like I wasted my money on the inspection. If the seller had disclosed even half of this stuff on their form, we would've walked then and there. I understand the buyer pays for the inspection for exactly this reason, but ...

Signed a contract with a builder (Lennar) in Erie, CO, to build us an awesome house in an awesome location, right before things hit the fan with Covid. Build completion and closing is for the end of October. So far, Wife and I are lucky enough to still be working. Doesn't look like that's going to change so far. However, I'm worried about the possibility of buying the house at peak price, prices tanking in the near future, then being underwater, all with the possibility of losing our jobs/income for the same reasons others have. Builder breaks ground May 4th. Should we figure out a way out of this contract? We've put 5k down and I think that's all we'd lose, but not sure. Having terrible anxiety about this. submitted by /u/wordyoprettygood [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gagn21/have_i_made_a_terrible_mistake/

Howdy! I am looking at a manufactured home on about 4 acres outside of San Antonio, it has been on the market for over a hundred days. I am just wondering on an affordability stand point how it will all break down and what an acceptable offer would be. It is listed at $250k and I am thinking of offering $199k. My credit is great and I have been preapproved for much more than the asking price. I will have about $20k total cash on hand for down payment. I currently make $4200 a month and have just a truck payment/insurance that isn’t housing related. Any help would be appreciated. If I’m in the wrong place, I apologize and feel free to delete the post. Any help or insight would be helpful. The agent I have spoken with doesn’t seem too knowledgeable or I am not asking the right questions. Thank you! submitted by /u/thelawman89 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gaq5dj/st_hedwig_tx_home_questions/

My husband and I recently became contingent on an older home (1970's) in a very desirable neighborhood. The location meets all of our requirements (great school district, large yard, character, close to a cute downtown area but still sort of remote.) It's difficult to find homes in this city at baseline, and even harder now that there is a pandemic. However, our inspection had some concerning results. The inspector stated the roof had a leak in the garage and would most likely have to be replaced in 2-3 years. We had a roofer come evaluate, who stated he could repair the leak and he believed the roof could last 3-5 years. The seller has agreed to pay for the roof repair. The electrical was not up to date, missing GFCI outlets, and areas of reversed polarity. The seller has agreed to pay for electrical repairs. There was evidence of mold remediation in attic (no active mold) which the inspector contributed to upstairs bathrooms without proper ventilation. This will be repai...

So I was looking at this house in south jersey (berlin) and asked my realtor to put in the bid for it. talked to my mortgage broker also and applied for a FHA loan with downpayment assistance, contract signed, had my personal inspector go inspect the house, everything went smoothly. Mortgage broker had the house appraised per FHA and since the house was built in the 1920s like almost all jersey houses it had chipped lead paint on the exterior and basement walls. Per FHA minimum property standard chipped lead paint has to be fixed before closing I told my realtor to tell theirs that I will be doing the repairs. Most of the chipped lead paint was in the basement and after 4 days and spending hundreds of dollars, the repair is fixed, appraiser comes out again and passed it from what I am hearing. 4 days away from closing the seller wants to backout with no clear explanation yet. This happened last week. What actions can I take here. If the seller does back out, can I take them to court ...

submitted by /u/YourConsigliere [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gap299/what_online_tools_provide_the_most_accurate_price/

Could I build a house for about 100k? How much upfront Capital would I need. Any tax benefits I could leverage ( writing off as business expense type things ). I just don’t know what are the next steps to consider. submitted by /u/citizenofacceptance2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gap28d/as_a_us_citizen_eu_citizen_who_would_resides_in/

Hello, I’m in the process of buying a home and the seller is offering a 4,000 credit for appliances/cabinets or countertops. What does this mean exactly? Our buying agent isn’t sure. submitted by /u/buyersellercredit [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ganjre/seller_offering_credit_for_applianceetc/

I realize we may experience moderate to high inflation in the coming decade or so. Assuming that does happen, how does something like this play out in the rental industry in a big city like Atlanta? submitted by /u/lateral13 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gamvrt/do_rent_prices_generally_go_up_with_inflation/

So the inspection period ended on Sunday. But I have not heard anything from the buyer/buyer agent. My agent called the buyer agent and left a voice mail but we have not heard anything. I did got a email from the title company today asking for my information so they can process it. I think that is a good sign. Does the title company need to hear from the buyer before they get with the seller? Or do they contact you after inspection contegicy peroid ends. submitted by /u/throwaway1237833 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gamew9/have_not_heard_from_buyer_since_home_inspection/

Hi everyone. I'm hoping for some advice as to what to do about a new construction purchase I committed to just before the pandemic. I put down a $7K deposit on a $500K new home build in Southern California from major national builder. This is after upgrades (a lot of kitchen upgrades, modest upgrades in other areas, as well as mandatory solar), but still lots of areas that I decided to upgrade after getting the keys. It's in an okay area (not great) and is priced $50K-100K above the immediate surrounding neighborhood, but still cheaper than older homes just a couple miles west. It's going to be a nice community from what I can tell. For comparison, within 10-15 miles, all other new builds are in the $650K+ before upgrades range and getting closer to Orange County gets up into the $1.1-1.5 million range. Before the COVID craziness, the cost seemed okay and I was budgeting for further upgrades to do once I got the keys but before I moved in. This would include putting in q...

I live in Georgia and everything I see about real estate agent licensing refers to a sales license. I only want to represent buyers, is there a buyers license or do we all need a sales license? Also any thoughts on representing myself? If I have a license and then decide at some point that I want to buy a home, I can surely represent myself. I assume this is common in the field and want to make sure there isn’t something I am missing. submitted by /u/miha222 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ganmv0/do_i_need_a_real_estate_license_just_to_be_a/

Small hail storm came in a few nights ago and lasted for about 10-15min. No shingles fell off, and the roof is 8 or so years old. I plan on selling the home next year. It's in Houston, Texas. We've had five roofing companies visit in the last two days, but I don't trust them. Who can I trust to look at the roof and be honest? Can I inspect it myself? submitted by /u/createdlove [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gan92b/small_hail_storm_who_can_i_trust_to_look_at_the/

Just wanted to share my story over the last month of viewing and closing on a property in LA through the pandemic. We started this journey about 3 years ago viewing neighborhoods, checking out open houses, and just kicking tires - not serious about it but slowly saving our money for when the opportunity was there. We knew we'd probably be in south LA (Leimert Park, View Park) or far east (Highland Park, Eagle Rock) due to really enjoying the areas and what the neighborhoods offer. They are also a little cheaper compared to the rest of LA because South Central is the hood slowly being gentrified, and the east side is really far for anyone who needs to commute to the west. We viewed our first house on April 2nd in Leimert Park and loved it. It was exactly what we needed, and the price was right - $677k. I was so certain on this place, I told my wife we should put an offer in right away. She wanted to see a few more. We pushed our agent to show us 8 houses the next day so we coul...

I’ve spoken to my realtor but wanted addition opinions. We close this Friday on a new build after nearly a month of weather delays (our rate lock also expires Friday). We were able to finally have the house inspected yesterday which revealed a torn garage door, one outlet not working, the window in the master bedroom is scratched and some other minor cosmetic issues. I don’t think there is anyway for all repairs to be completed by Friday at noon so how should we go about making sure to get made whole with these repairs? submitted by /u/crustybucket- [link] [comments] source https://www.reddit.com/r/RealEstate/comments/game2b/new_build_advice_needed/

I'm currently 5 months into a 6 month lease. I tried resigning when my landlord informed me that he's going to be selling the house so I'd have to leave by June 1st. With everything thats going on with Covid right now, I thought it was illegal to evict anyone. But since technically my lease will have ended, is it still considered eviction? submitted by /u/esotericham [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gam1hj/can_i_be_evicted_if_my_lease_is_up/

submitted by /u/annie778899 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/galxcb/is_it_common_to_share_half_of_buyers_closing_cost/

I didn’t know where else to post this but I need to move into an apartment that’s close to my job by the first week of June. For units that I see on sites like Zillow and Apartments.com that have immediate availability how fast can I move into them? How long is the process of getting your application accepting to moving it? submitted by /u/Anthony__Scaramucci [link] [comments] source https://www.reddit.com/r/RealEstate/comments/galago/how_fast_can_you_move_into_an_apartment/

Hi all, I need some advice on negotiating issues that became apparent during home inspection. House originally listed for $365,000 dropped to $355,000. Our offer of $350,000 with $6,000 towards closing costs was accepted. We are now in the inspection period. We had a general inspection and sewer scope done. The house was built in 1915, but overall has been well taken care for and is in good condition. There are lots of minor issues that we are willing to look past (cracked windows, wood rot, leaks etc), but a few major ones came up after the inspection. Recommended roof to be replaced immediately. Sewer line showed holes in pipes and decay, recommended replacing the 44' between house and city lines. Furnace is 24 years old--functioning, but recommended replacing within next couple of years and having serviced annually. Chimney needs some structural work to reinforce it. It's not currently an issue, but will become one if not addressed in the next couple of years. I am...

Me and my friends are graduating college; tight knit group of guys that have been friends for almost 10 years. We all are going into well paying engineering jobs with no debt because we earned merit scholarships for school. We were thinking the other day: what if we pooled our extra income once we start our jobs, incorporate an LLC, buy a house under our (collective) real estate company, then rent/manage the house amongst us. We use that money to buy other houses and slowly build up a portfolio of houses over time that would provide us all with passive income. We were thinking this would be a great way to get a return while also diversifying the risk amongst us. While it would be a lot of work, we think this could be a lot of fun too. Is this a good idea? Has this been done before? How do we go about doing this? submitted by /u/Algorithmic-Botany [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gakwxm/starting_a_real_estate_business_with_my_college/ ...

what are the steps to getting a house under contract from the bank(with no money) in order to assign the contract to an investor? Asking for a friend submitted by /u/speakguapanese [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gakr5r/can_you_flip_houses_w_no_money/

Does a VA Loan approve a manufactured home on post & piers? submitted by /u/Nodak_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gak75m/va_loan/

Hello! So I sold my home and was supposed to move today. Our closing day for both selling and buying our new property was today. One day before the moving, the buyer asked for an extension claiming their mortgage didnt come through. They are asking for maybe a 2 week extension. The other problem is the home we bought is from the bank, so they would be charging us interest on the mortgage for the delay. What would be the best advice in this situation? Any advice will be greatly appreciated!!! submitted by /u/SpecialistWay5 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/gak16c/last_minute_extension_by_the_buyer/

Hi reddit, After 2 years of planning (mostly by her) our wedding got cancelled (thanks for nothing covid-19). Now we're planning on having a scaled back simple wedding much later or just have kids with a civil court and get on with our lives. Anyway, I have a real estate question on what would be the best approach to buy an investment rental like an apartment or condo or small house. Our biggest hurdle is the down payment. With our wedding savings we can save for another 2 years to complete it. Or should I refinance my home to get cash out now for the down payment? Does it change anything to buy a rental before or after marriage? Note I'm planning to refinance my condo anyway to drop the interest rate about 1% (not APR) and to shorten the loan to a 15 yr-fix (i have 24 yrs left on current mortgage). It will raise my monthly payment a little but it's negligible (with no cash-out option). Or instead of a refinance cash out is it better to use equity (loan or HELOC) to com...

Don't they understand that everyone is hurting right now... The stock market is down... Stores are closed, Companies are closed, people are struggling to find money just to pay their own bills. You can bet the amount of double and triple overtime pay for government employees is just astounding at this point. They are spending money they don't have on things they don't need and probably 90% of their offices are closed so you can't even get help from them when you need it. It is just outrageous ... Half a Billion Dollars and Nashville is not a huge city. It is going to happen everywhere.... They need to cut their budgets drastically before they come to the people for a fricken 32% increase ___________________________________________________ Nashville Mayor Cooper today filed the city’s recommended operating budget for fiscal year 2021 with the Metro Council. The Democratic Mayor wants to hike the city’s property tax by 32% to recover. Metro Finance estimates tha...

Hey there, I bought a house that's right near a high school's parking lot. We don't have a car and thought letting kids park there would be a good way to get some passive money. Does anyone happen to know a good way to let myself be known other than a long trenchcoat and a "Hey Kids, wanna buy some park?" submitted by /u/NeoGenMike [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ga362v/buying_a_house_directly_across_from_a_high_school/

Looking for advice and a second opinion. I purchased a townhouse in an unfinished neighborhood in 2017 for $227k and have around $200k left on the mortgage. As of right now, three neighbors have sold for around $300k for similar units, and two more are on the market for the same amount of money in my neighborhood. Here’s the catch, I’m on the HOA board and we just spoke with a developer who purchased “phase III” of our townhouse development and is going to finish the 14 additional units that will be priced around $400k-$450k. They break ground in September and will be done in around a year. My question is do we sell before the units are built, do we wait until the first couple are built to “draw attention”, or do we wait until the units are all built. We aren’t in too much of a hurry, but the current house will not be conducive to raising a family. submitted by /u/KronosKid [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ga2dmr/sell_and_upgrade_or_wai...

I'm a self admitted noob when it comes to real estate, so forgive me if this is a stupid question, but I've seen this "it's pointless to try to time the market" line of thinking come up on some threads and I'm curious to hear more discussion around it. Is it really pointless? Thanks. submitted by /u/2070ClubHopeful [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ga2c93/is_it_pointless_to_try_to_time_the_real_estate/

I realize this is a bit of a longshot, but I figured with everything crazy in the world going on right now, it’s worth a try. Currently in the process of relocating halfway across the country for a new job. Already accepted the position and put my current house on the market. It’s been on the market about 2 weeks. It’s a nice hosue at a very competitive price in a fairly warm market. Has lots of views/favorites on Zillow and Redfin, especially considering the size of locale and amount of time it’s been listed. I checked, but unfortunately Zillow home offers or any of the more reputable homebuying companies aren’t in the area yet. New state is a cooler market and I’m looking at a much higher price point, which is much cooler on top of that. Really a buyer’s market and lots of good choices. One such house is being sold by a relo company that is desperate. The price has been cut several times, and it’s been on the market nearly a year. I’ve toured and talked to the agent. The owners d...

Me and my wife are currently renting an apartment with plans to buy a house in the future, but what seems like a great opportunity was just put in front of us. My wife's parents are renovating and then planning on selling their second home, and told us that they would be willing to sell it to us at a lower price then what it is worth. I was wanting to wait a couple years before looking to give us the time to save for a down payment, but this seems like a really good deal. Our current apartment is a 2 bed/2 bath with no other amenities (i.e pool, covered parking, common areas, or provided internet). We pay $785 a month for rent currently, which has increased every year from the $725 we started at 2 years ago. New renters in our same complex are starting at $900, so I know that our rent will continue to increase to at least that amount over the coming years. The house is a 3 bed/2 bath with a 2.5 car garage and a yard in a nice neighborhood. The Zillow Zestimate is at 176k. The in-...

Bought a house with a 24x30 (three story) barn. We’re doing a studio apartment in the upper floor w lofted bedroom. If I convert this to an ADU I can rent either house or barn apt, but am supposed to occupy one. We couldn’t get the loan as a multi so it’s gotta be an ADU from that perspective, but in order to get the certificate of occupancy for ADU, we need to put a covenant on the deed that we won’t turn it into a multi unit in the future. The woman at the city said from her perspective if I changed my mind or wanted to split the main house, we could pay the impact fee for ADU and then should be able to get covenant lifted, and then pay difference in any for higher multi unit impact fee. She did warn that I should consult RE lawyer, Property could be converted to 3 units potentially in the future (by us or if/when we sell it so I’m nervous to put that covenant on the deed. Anyone have any experience with how that may work if we did want it removed down the line? submitted by...

How long do you need to be on a job for a lender to accept it for a mortgage? My husband and I are looking to use a usda loan to our buy a home. (Fha if we have to). I was laid off last month because of the covid crisis and our state is still shut down so nothing in my field is currently hiring in our area. There are several job perspectives available as soon as we reopen and honestly if I need I will get a local warehouse job which pays well and is always hiring (even now) so we can move. I don't believe my husband will qualify solo. (40k before over time salary, 730 monthly debt (student loan/truck/credit card). Looking for a home under 180k prob closer to 160. submitted by /u/2starlight2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ga08px/acceptable_time_on_job_after_layoff/

This may be a long shot, but I’m wondering if anyone could help me understand this. My real estate agent gave me a break down of the closing fees on a house that I am selling. The house is priced at $81,000. The closing costs comes to a whopping $11,777.50. This made a potential buyer want nothing to do with the house. I am located in Oklahoma. Does this sound correct? To me, that seems a bit high but I know nothing about selling houses so I have no clue. submitted by /u/JLCGC [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9zxw5/is_this_closing_cost_too_high/

I'm new to real estate investing so I don't know if this is a good idea or not. Should I take a 2nd mortgage out on my first property and invest that money into down payments for several duplexes? submitted by /u/syckes [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9zvrf/2nd_mortgage_to_for_down_payments/

So we bought our house about 2 years ago my husband and I had a lot of debt at the time. So we bought something small that needed a lot of updates. Well I am sick of house projects! Not to mention we out grew our house. But we Focus on paying off all debts now all we have left is my credit card. The house market here is super competitive in Washington. And we are near a military post. I want to sell our house buy land and build my husband thinks the market is going to crash and we should just stay where we are and get a storage unit for storage. Should I speak with a realtor to see my options? Or just stay where we are submitted by /u/restoringlily [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9zva3/should_we_buy_a_new_house_or_wait/

I’m 18 and I’ll be moving out in the fall. My mom is going to help me pay for an apartment while I work and go to school. An apartment complex I have my eye on advertised a maximum salary of $24k for one person. Would I be eligible to live there even though my mom, who makes more than $24k/year, would be the one paying for it? Is eligibility determined by who is living there or by who is paying? submitted by /u/5outof10 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9zu78/would_i_apply_for_an_income_restricted_apartment/

I reached out to an agent on Zillow because of a property I liked. He got me a few virtual tours and an in person one. He has talked me out of a few properties that I really liked and pushed for me to make a bid on a home that I was not super psyched about and seemed annoyed when I declined to do so. Anyway, I never really chose him I just wanted a tour initially and now I feel like I’m his indefinite client. I was mostly just browsing homes leisurely but he’s talking to be about a closing timeline already and things like that wen I’ve only really seen 3 homes. I am asking this because I was interested in a condo and he said it wouldn’t be beneficial to get a condo based on what kind of mortgage I could get. He brushed off my request for more information on said condo and continued to send me MLS of other places. I eventually just messaged the listing agent for the condo myself and they never responded- my realtor did however, saying that the message was forwarded to him by the li...

We're buying a home built in 1978, the year lead paint was officially banned. As an extra precaution, because we have young baby and because we have the money, we asked for a lead screening to be done just in case. We listed this in our contract. We just found out that the screening was not done and we're scheduled to close very soon. Our real estate agent is acting like this is no big deal because the HOA and inspector said its not a big deal. We're still going to go through with buying the house, but I don't understand how something that we listed in the contract was completely skipped. And now our concerns are being dismissed as though its not a big deal. I should mention that we've been less than thrilled with our real estate agent and have felt dismissed on other issues (for example, the sellers disclosure had an entire section left blank). Are we overreacting? submitted by /u/marialavender [link] [comments] source https://www.reddit.com/r/RealEs...

Hello and thank you in-advance. Brace yourself for details: I’m scheduled to close on a mortgage refinance this Thursday in NJ and upon comparing the closing disclosure to the loan estimate I noticed a $3,918 increase in the “Prepaids” section. Upon further inspection $600 was due to a change in the pre-paid interest, which makes sense. The remaining $3,318 shows up on a new line item (“Property Taxes” (3 mo.)), which was not on the Loan Estimate. This is particularly confusing because in the subsequent section (“Initial Escrow Payment at Closing”) there is a “Property Tax” line item for $4,311. This was also on my loan estimate and makes sense to me. My questions are the following: 1. Are these property tax line items duplicates? 2. If not, why would this not have been included in the loan estimate? 3. Has anyone else had similar experiences? I sent these same questions to my lender today and am waiting to hear back. submitted by /u/susq35 [link] [comments] source htt...

I don't know if I should post this here, but I have a question in regards to my mother's friend. He basically has bought these buildings with parking and what not. So he's letting people rent it out for a sprint store, dunkin, dental place, etc... I know he's charging rent for it but I wanted to ask, what does he get in profit. For math and calculations to show as an example, one place's rent is $4,500, and other place is $7,000. submitted by /u/Vinp214 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9ym75/understanding_properties/

This may be a long shot, but I’m wondering if anyone could help me understand this. My real estate agent gave me a break down of the closing fees on a house that I am selling. The house is priced at $81,000. The closing costs comes to a whopping $11,777.50. This made a potential buyer want nothing to do with the house. I am located in Oklahoma. Does this sound correct? To me, that seems a bit high but I know nothing about selling houses so I have no clue. submitted by /u/JLCGC [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9yjeo/sos/

I know after I get my licence, I have to work for a real estate broker company. But since COVID-19 happened...idk how that'll work out. Should I just wait until things settle down a bit? submitted by /u/Lodaa601 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9ybm9/is_it_a_bad_time_to_get_my_licence_as_a_real/

Hi, so I have had success recently in a business venture and would like to put the excess cash into real estate. I am 18 years old and I was wondering whats the best way to get into learning how to flip, and how to rent properties. I have no previous experience what so ever with property, mortgages etc. (I live in my mums and dads house still) because I am quite interested in that area in comparison to learning stocks & shares etc. ​ I am honestly up to try anything whether its books, videos, podcasts, trying to get a job as a trainee estate agent - honestly anything. I have a lot of energy and I am here to make money. I have quite a tech background, so usually when I have a question about tech that the internet can't answer I ask one of my mentors - but I have no mentors dedicated to real estate (I have tech mentors that rent flats but no one dedicated to it), so I was hoping reddit may be able to offer some advice? ​ Appreciate any and all comments, thank you! submit...

We are in the process of taking advantage of the current interest rates and refinancing our home (purchased 1 year ago), and the lender has inflated our home value (presumably in order to get us a lower rate) and has also waived the appraisal entirely. Is this a "normal" lender practice or a huge red flag? Additionally, will this in any way affect our property taxes? We live in Maryland, and our assessment for 2020 has already occurred. Thank you for your assistance! Edit: IMO, it is not an insignificant inflation (~8%), although 8% of my home value may seem like a lot to me and not a lot to a bank. submitted by /u/butter_flies_1989 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9y3m9/refinancing_and_home_value/

I have paid rent through my lease expiration of 4/30. I have been moved out for almost the entire month. I still go by the place to check on it as I am a good tenant. Upon arriving today, I was shocked to see that a new tenant has started moving in their things. My key still works, but I don't feel comfortable visiting/using the house any more (it has a pool). I am legally entitled to the reimbursement of these last 3 days of April's rent? Landlord did not ask for permission to give someone else keys so that they could move in. Potentially, new tenant is also paying rent, but more likely they are starting May 1st. Thanks submitted by /u/NESMission [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9yb8n/need_some_landlord_advice_tx/

I need to estimate the value of a house pronto. Any go-to sites that give the best estimates? submitted by /u/Estate4reaL [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9y3kn/best_free_real_estate_value_evaluator_virual/

If I have an FHA loan and pay 20% down, do I have to pay escrow fees at closing? submitted by /u/nursejaim [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9hw70/fha_and_20/

Hey all, My wife and I have 170k, live in Long Island NY and are looking to buy a house in western Nassau or eastern Suffolk counties. We currently pay 1000$ rent in a friends apartment with no commitment. In looking for a house we are having a extremely difficult time finding houses other than shitty overpriced flips and large houses that need tons of work. My loan officer suggested we look into putting a lower down payment on the house in order to have more cash available for renovations while paying PMI. After renovating, I am to then get my home appraised to remove the PMI. Credit score is 790 so PMI is low according to the loan officer. Is this sound advice? Is it risky due to the Coronavirus that my home value may tank in 6-12 months thus making me pay for PMI longer? NY sucks TYIA submitted by /u/kl2239 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/g9hshp/170k_cash_on_hand_what_do_i_do/