I just closed on my apartment building yesterday. It’s all good an exciting. Except that I currently reside in one of the apartments and my upstairs tenants suck. I’m not sure if I’m coming here for advice or to complain but here goes…. My upstairs neighbors(now tenants) are really noisy. Don’t get me wrong, there isn’t anything limiting the impact of sound from their hardwood floors through to mine so it’s not all them and I’m assuming it’s not malicious. But before I became the owner of the building the landlord had messaged them for me one day asking them to keep the noise level down for the day. So they know it’s an issue, and they also know the last tenants lease wasn’t renewed due to this. Another issue I have is that one person is signing the lease to live here, and then bringing in 4 extra people (adults and children) who aren’t listed as taking residency here. Idk I guess I’m especially crabby about it because I’ve lived here for 2.5 years and I’ve always had at least 5 peop...

First time homebuyers here, scheduled to close late January. I'm shopping for homeowner's insurance now, and it's made me realize I don't really know how homeowner's insurance works/ what I should be looking at in these quotes. One agent offered me a policy through Eerie, which has "unlimited replacement" coverage. The price is comparable to what State Farm quoted me for 100% replacement. Unlimited sounds good, but is it? What does that even mean? Followup question: does homeowners insurance cover my personal property? I know my renters insurance did, but don't want to make assumptions submitted by /u/monkeyroo [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rt0idm/eli5_homeowners_insurance/

we recently got a new apt but financed loan for 2.5% at 7/1arm. Currently 30yr fixed lowest seems to be 3 to 3.125% should be refinance to 30yr fixed or wait to see if mortgage rates ever fall again in next 7 years? what do you guys recommend, how to go about it? submitted by /u/fib235 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rszdw3/to_refinance_7arm_to_30yr_or_not/

Good Morning, I'm looking for information regarding best options for 1st time home owner loans, currently renting in Buckeye, AZ and getting my credit up to par. Hoping to be a homeowner within 6-8 months. Thanks in advance! submitted by /u/edwardthegreat12 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rsy4av/1st_time_home_buyer_loan_path/

My husband and I are a week away from closing on our first home (Jan 7). We are currently using a VA loan and up until this point have had no issues with inspection, negotiations, mortgage approval, etc. Now the lender is demanding that a bunch of repairs be completed before closing. Some of these repairs seem to be cosmetic - minor cracks in concrete, garage door replacements due to old ones peeling. We have no issues with making the repairs ourselves and will do it, we just want to close ASAP and own the house before we make these repairs. We offered to put money in escrow with a promise to complete within a certain number of days but the lender wouldn’t budge on that. Now we have to hope that the seller is ok with having us make repairs on his property and possibly pushing back the closing date. We will obviously rush to get these repairs done as quickly as possible. I’m just hoping the seller won’t back out and see this as something they don’t want to deal with. Has anyone experie...

I posted to the group recently regarding our short sale and all the interesting aspects it has been. We've finally reached an agreement and have a closing date at the end of January. The seller has known this sale was coming for some time as we've navigated all the ins and outs of the short sale, but they have done nothing to prepare for leaving the house. We're now about a month out from closing and the seller has requested a 30 day stay in the house to get their affairs in order. Our contract states the property possession transfers with deed at closing and no mention of a rent back/extended stay situation. We're going to perform a walk-through of the property the day before or day of closing to verify the house is cleared of their stuff. I'm not even expecting broom clean, just empty of their stuff. I know if they haven't vacated the property, that we can delay the closing, but we're running into a bit of an issue with that plan. We've had to exten...

I'm a real estate agent with a broker and I'm part of a team. My neighbor has an apartment she is trying to rent on my street. Can I help her rent this apartment without going through my broker? I get a very low commission split because I work under a senior agent. Is there any way for me to find some tenants for her unit and keep the fee? submitted by /u/LUCKYMAZE [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rsy40s/helping_my_neighbor_rent_an_apartment/

Hello! We're new to Reddit & to real estate purchase/investing.. Currently looking to purchase land for living (w/ ag exemption in TX), but would also like to have a commercial office space on there. Does anyone have experience with this? I know this is not very specific, but any suggestions on how to get started, and the things to keep in mind? Thanks! submitted by /u/aaliyah-jones [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rsxhg1/need_advice_on_purchasing_home_office_space_tx/

https://imgur.com/a/VmXay0y I've just never seen anything like that before in the rest of my house hunting, so I thought I'd ask. What are the silver metal things on the walls? Why is there all the black dots on the walls? I just want to avoid a basement that has had foundation/water issues in the past, but I'm not sure what that stuff is. EDIT: The silver bits are wall anchors: https://www.woodfordbros.com/foundation-repair/foundation-repair-products/wall-anchors/wall-anchor-system.html Guessing the black stuff is liquid rubber. Makes me think this foundation had some issues in the past so its gone down my list of potential buys. submitted by /u/grouchysteamer [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rsx8tx/is_this_basement_cause_for_concern/

So there's a house that's been sitting on the market for 92 days I am supposed to look at tomorrow. I did a ton of research and it seems to me it was listed high to try to take advantage of the spike in estimated sales prices due to the house next door selling. Since there aren't a lot of comparable homes nearby I believe this skewed the estimated sales value numbers, encouraging the sellers of the house I'm looking at to list the very next month at a hugely inflated price. They have dropped the listing price 85k in that time. After looking at a ton of values for comps, off market, and tax value my math is showing that the house should be listed at about 16 to 20% less of where it is now. The house next door that I believe is skewing their listing price has 1000+ more square feet, more privacy due to trees/woods, is 73 years newer, has 16 acres compared to 3, very similar condition inside, similar amenities (pool, barn). I settled on a price that I would offer based...

We are in TX, and likely to list our home this spring. Homes around us are selling (a lot) but it’s frustrating because we can’t see what they sell for without access to MLS. We haven’t signed with an agent yet. But I enjoy following the market in preparation for our listing, so I’d really love to see what stuff near me is selling for. Is there really no way to figure out the sales price on these homes? submitted by /u/kathdrag11 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rswf92/loopholes_for_sales_price_in_a_nondisclosure_state/

I'll go first. House Hacking submitted by /u/jordanjbarta [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rs88to/book_suggestions_the_best_book_youve_read_on_real/

So i’m looking to build a software in the market of real estate. Now there is a lot of problems in real estate that could be solved, I’m not a pro in real estate investing or real estate in general but i know a little bit, i’m looking to build a software that the real estate community would want. I know there are a ton of softwares out there but every software has its problems and you could make that same software just better cheaper and more efficiently and be the better contender. I mean look at paypal for example a huge think when it first came out , one of a kind. and now we have things like venmo or cashapp all these other online transfers of money, and the way they did that was cashapp, venmo, whoever looked at paypal and said what’s a problem through paypal that we can solve and they did that and they turned there app/software into a better version and it became just as big as paypal, so what i’m saying here is that no matter if there software is the same as another what’s a go...

Hey. So I’m wondering if I should consider purchasing a property in 2022. I have about 40k for a down payment, make 83k annually and have a credit score of 775. I have about 10k in cc debt, but I plan on paying it off by February. I currently live in the east coast but will be moving back home with my parents in Cali until I find a place. I wouldn’t move back until I got my new job. I plan on working remotely and will apply in January, would that affect my application? I’ve been at my prior jobs for five years each (still working here for now) houses are super expensive where I’m from in (Cali, coastal) , and I feel like foreclosures are the only way for me. Does anyone have success stories about purchasing a foreclosure? I did a prelim check and it appears I would qualify for about 475k, which isn’t enough unless it’s a foreclosure. I’ve been reading through the subreddit and it seems like the consensus is that prices may slightly drop but interest rates will rise. And th...

I have been seeing a few posts lately that people complain about the contracts they SIGNED. Hello, if your not comfortable reading an signing a document please get professionals involved. My husband and i are old farts that are educated but for large estate stuff you fax or email the contract over to an attorney and let him/her remove or explain any and all need to know. It’s just not that expensive. Maybe 1% of cost? submitted by /u/Substantial-Spinach3 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rs5g5q/hire_an_real_estate_attorney/

submitted by /u/s4ims [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rs4e98/is_there_anyone_here_who_is_willing_to_mentor_me/

Hopefully this makes sense. I bought my townhouse in 2004 for 135 and it’s currently worth ~300 (not just as a reflection of today’s market but it’s in a prime location). On paper, it’s my primary residence, however, I’ve been renting it out but I keep a room and my mail still goes there (renting to a friend). That will change this year with a ‘real’ renter. At what point will it become investment property and will capital gains apply when I sell it? The 2004 purchase price or today, the market price? If 2004, is there anything I can do to circumvent this by selling it to my partner (of 8 years) or creating an LLC? Or are there any other options/suggestions? submitted by /u/runjunebug [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rs4vr0/tax_question_for_primary_to_investment_property/

I’m hoping to provide a discount on the rent if a tenant sets up automatic payments. submitted by /u/HoneyIShrunkTheTwins [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rralyn/what_are_some_websitesways_where_tenants_can_set/

Family member is looking to purchase undeveloped land in western North Carolina, eventually to build a vacation home. Neither she nor I have any experience with this kind of transaction. Does anyone have any advice on what she must or must not do to avoid costly mistakes? Thanks. submitted by /u/SutttonTacoma [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rra1nb/do_list_for_buying_raw_land/

new young investor here looking for you experienced investors that have been in this business and have seen the downfall and uprise of this business , i’m looking to just chat have a informal talk and hear how you got started how you got the motivation to move forward and how you’ve maintained and stayed strong through investing. shoot me a email @ nharrison4036@gmail.com submitted by /u/Kingna1ee [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rrap5g/looking_for_experienced_investors/

Hi all, I read this sub from time to time and have my previous suspicions confirmed about the average RE agent. We're essentially swimming in a sea of mediocrity and incompetence. The agent that helped me buy my condo wasn't the brightest star in the sky and I'm feeling the same way about my current agent in my house buying process as well. Does anyone have any tips for finding a good agent or how to vet someone? submitted by /u/BackdoorDan [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rr8vxj/how_to_find_a_competent_buyer_agent_in_co/

Heba is an unconditional transfer of property made immediately and without exchange or consideration by one person to another and accepted by or on behalf of the latter. Heba after death is a kind of heba given during the lifetime of the deceased and becomes valid only after the death of the giver. It must be accepted by the person given the gift and can be revoked during the lifetime of the giver only after approval from the receiver. However, if it was given under duress or deceit or from person who doesn't have the legal capacity or capability to give it, then it can be revoked through court order even if the receiver did not accept the gift. submitted by /u/georgenevis [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rr8vay/do_you_know_what_is_heba/

Hi all, Wife and I are blessed to purchase our 2nd property after viewing several houses she didn’t like and about a dozen of our offers that didn’t get accepted. Finally the one that accepted our offer is a tenant occupied with the lease ending next year May. Wife is now worried if the tenant won’t move out by then and we’ll have to do eviction which will cost time and money to get the house we purchased. We will be living in the property after the tenant moves out after lease ends. I asked our realtor and two different attorneys for what we can do to make sure the tenant move out on time when the lease ends, and they all told us there are nothing we can legally do as of now as the tenant is on term with the rent. My wife is super worried and bugging me to do something before closing to make sure as we’ve had really nice and seemed dependable people not keeping their words in the past. How is it normally done with purchasing tenant occupied property and what can I do to help calm m...

I am 26 and looking for a condo as a first time buyer with a budget up to $130k (theres tons below this). New condos are non existent it seems, so I will have to get something used which is fine. About 90% of them have the 55+ age requirement. The others are either crappy looking or have other issues. How is someone younger supposed to be able to even buy something? I am looking around the Treasure Coast area (Melbourne down to around Ft. Lauderdale. ) submitted by /u/justinlh_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rqhn2r/how_is_it_possible_to_buy_a_property_in_florida/

The condo is noooiiiceeee . It’s been on the market for 4 days and already has 2 other offers. I am viewing it today. Originally it was for sale for 185k but it went up to 192,500 yesterday bc the seller saw that one bedrooms there are selling for 185k and it’s a two bedroom. I originally put in an offer for 190 but am now feeling frantic. I am planning to put in an offer for 194 and ask for 5k in closing costs. Does my new offer sound competitive?? submitted by /u/grsdjotc [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rqkvxu/i_have_until_1pm_to_submit_my_highest_and_best/

Hi, i know this a commonly asked question but im a bit stuck about what to do next as im 19 and have come into inheritance a year ago.Ive invested a lot of it into Stocks and share ISA for the longterm but i wanted to invest the rest with my current savings into property around £40k Ive always like the idea of BTL as i always wanted to travel in the next few years but how realistic is it at my age and with me living at home.My credit score is good and improving but is it better to maybe look at a residential first or maybe a Flip.Is it best to ring up several mortgage brokers to see what they say.Any advice appreciated Thanks submitted by /u/ELLEIOTTT17 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rqhlbj/property_investing_help_19/

I have a question that I that I am unable to find a answer to online and I thought this may be a place that somebody would be able to help me. My property along with 16 other houses worth we're sold recently To a condo developer. My lease was transferred to these individuals. However they did not buy the LLC that my lease was signed under. From my knowledge, My former landlords simply negotiated that the current tenant's leases would stay until they expire in May. I am looking to leave as I know they are going to raise the rent in may And I been looking to leave this area for some time and just feel like this is gonna be the right time just to make the move. The question in the end is is my lease still legally contractually obligated by myself to stay here? or now since the new lease was to transferred but was never signed by the new landlords And myself i am no longer obligated to stay until the lease is done. submitted by /u/taker52 [link] [comments] source ...

I entered a contract to purchase a home about a week ago in Texas and after inspection, we sought an extension of the option period through 12/28. The extension was signed and approved by both parties on 12/23. However, I was not made aware that an additional fee (for the extension) must be paid on the same day, otherwise the extension wouldn't be enforceable. My agent mistakenly assumed we had three business days to pay the $10 additional fee - which I did on the third day (the 27th). Unfortunately, I decided to back out of the contract to buy the home yesterday (27th) for various reasons, since I believed my option period was extended till the 28th. But now the seller's agent is claiming that because the additional options fee was not paid on the same day as the extension was signed, the extension is un-enforceable and therefore the seller will not agree to release the earnest money since we are out of the original options period (till 25th). I was not given any prior noti...

The vast majority of opinions/suggestions/etc I see on "my friend and I want to buy a duplex" seem geared towards investing in one and the pitfalls that come with that. But my friend and I are considering buying one for us to live in, one in each half, so there's no investing going on. The idea is that years down the line if they decide to move out to the country and buy land, I'd be left with a unit I can rent out, and until then, we save money on living expenses by splitting the mortgage etc. Vs buying a single family home and doing the same, then me having to cover the entire mortgage of the single family home after they eventually leave. Neither of us have significant others nor any desire of such, so future families are not a foreseeable issue (nor benefit in my case for paying a mortgage, if they leave). They are a self employed dog sitter (which actually makes really good money) and would be using their half of the duplex to do at home sitting which they can...

Is it better to start of as a residential developer before transitioning into commercial development since it’s more complicated? submitted by /u/Zealousideal-Ebb-357 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rpsw6e/development/

Can’t seem to find a clear answer on this, I have seen some people online saying yes while the lender I’m getting pre-approved with told me no. Is this something some lenders might offer so long as it sign as a guarantor? Any clarification would be helpful. submitted by /u/mojo108 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rpq453/can_you_purchase_a_property_with_an_llc_using_an/

I see my scored dipped 20/21 points due to a recent card. It brought down my average age of cards significantly. I assume I would just have to explain this recent activity to a lender. Q: sold house, would pay off existing mortgage. But this would take some time to show on my credit report prior to new mortgage app? Q: in todays world, is it still advised to apply MANY mortgage applications at once ? Or only apply to a few. To my understanding the many inquiries would count as ONE inquiry as it’s shopping for the same loan. submitted by /u/RayAllenGame6 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rppgcu/credit_report_paid_off_mortgage_update_new_credit/

My spouse and I are getting ready to purchase our first home next year and our parents have graciously agreed to help us out a bit with a down-payment. How does this work with lenders? Do our parents send us the money and we just pretend it's ours? Do we disclose it somehow to a lender? Are there potentials issues with doing this? submitted by /u/knowledgeispower19 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rpnr87/how_does_it_work_if_family_members_help_with_your/

My house has been on the market for 2 years. Other similar houses in my neighborhood have all sold for similar price or higher. I am not sure why it is taking so long, but the other day I had a couple ring my doorbell and tell me they called my real estate agent with an offer and the agent never got back to them. Now I am starting to get worried maybe they are hiding other offers from me? What would be the reason for the agent to do this? submitted by /u/Iamoldsowhat [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rpne18/why_would_a_real_estate_agent_not_tell_me_about/

It’s a 75hr online class, my question, I’m terrible at learning through a screen, I’ve done multiple jobs where the online didn’t even matter and you learned all of it on the job, is real estate training online just like that? Or will I be expected to know all that when I finish? Thank you. submitted by /u/Europeancucumber [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rpnc8w/hi_im_doing_my_real_state_license_online_through/

I’m considering buying my first home next year and have set aside enough cash where I could buy my budgeted home in cash if I wanted to. But I’m curious how expected rate hikes outlined by the Fed over next 2 years will realistically (or have already) impact the market eg are housing prices going to continue to squeeze higher before the first few hikes or are they already leveling off in anticipation? Would a cash buyer be better off waiting until after a hike or two? submitted by /u/spx10k [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rp1k6r/how_much_will_rate_hikes_actually_impact_housing/

This is my first tenant ever. I rented to someone and he pays 500 for my basement. Two weeks ago I stopped getting hot water. I told my tenant hey I called PSEG and they are coming to fix the issue. PSEG came by and fixed one part and then told me they need to fix one more part. I keep the guy up to date with what PSEG is telling me and forward the text messages I get from PSEG so he sees the communication I have with them. When they come I ask for his approval to go to the basement. PSEG says they are a but slow because of the holidays and I get it. I thank them for their time. Is this considered slum Lord status? I'd prefer not to have bad habits from the start. PSEG is the utility company for the state of NJ btw submitted by /u/The0Walrus [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rp1dtw/is_two_weeks_without_warm_water_considered_to_be/

Hi All, I got this broker buyer agreement doc and there is a section that reads ​ b) If the property is not subject to a Listing Agreement, Buyer agrees to pay Broker a fee plus applicable sales tax as follows: For Sale by Owner _____% of selling price or $____________ For Sale by Auction _____% of selling price or $____________ For Sale by Builder _____% of selling price or $____________ Is 6% too much? submitted by /u/_Lets_Get_It_ [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rozsi8/broker_buyer_agreement_percentage_for_long_island/

I'm a first time homebuyer so really learning as I go. I know I should change the locks right away. So I'm going to bring a screwdriver and new doorknobs and deadbolts with me to closing. I'm fortunate in that I still have my apartment until the end of Jan 31st so I can do some home improvements before I move. Really the only thing that needs to be done right away is to replace the carpet in the livingroom, and maybe the upstairs hallway. I'm assuming the utilities will switch over to my name on the day of closing but I probably have to figure internet out. I also probably have to change the garage lock which I have no idea how to do. submitted by /u/Life123456 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/roxxqw/clear_to_close_on_wed_morning_what_are_some/

Just curious how people navigate this kind of stuff. After actually securing homeowners insurance and running some final numbers, it seems as though our payment will be $450 more per mth then we had planned. A small portion of that we planned for as we new the homeowners would be more ( $100 or so). The surprise is in the taxes. There was an addition put on the home and they didn’t pull permits at the time. The owner did mention this however she grossly miscalculated and said it added about 200 sq feet when really it increases the sq footage by over 500sq ft. That plus the new revaluations and we would end up paying an extra few grand a year in taxes. Honestly I’m not loving this. But we do have to be out of our house and rentals are hard to come by. Plus the whole who knows what the spring will bring issue. I know we have to do what’s comfortable for us. I’m curious if this is typical and we are ill prepared?? submitted by /u/-S_N_V- [link] [comments] source https://www.r...

How much does the amount of land figure into a house price/appraisal? submitted by /u/ps030365 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/roxrag/house_on_an_acre_or_more/

submitted by /u/Ok_Homework_7808 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/roxour/do_you_think_the_housing_market_will_crash_or_go/

We are building a new construction in Texas. Our realtor never comes to the house when we go check and doesn't seem to pay attention to any issues we raise with the builder. We are almost at the end of the process and the realtor missed the inspection and also left earlier during the walkthrough meeting. Overall there was no involvement after signing the contract. They get 3% commission. Is just that a bad realtor? I see other realtors check on their clients construction progress. I guess too late to fire my realtor. submitted by /u/yoyololoup [link] [comments] source https://www.reddit.com/r/RealEstate/comments/roxldh/is_my_realtor_not_good_or_are_my_expectations_too/

It looks to me that people like to "build" in Texas and move into brand new homes at least a couple of times. There is kind of competition of getting a bigger house with more upgrade, green belt, etc. There are always conversation who got a nicer house with all the upgrades, what remodeling they are playing to do, etc. Why is this obsession with houses? submitted by /u/yoyololoup [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rovtps/new_construction_homes_in_texas/

Was looking at rental places, one of the places I toured was a 2 story townhouse, split right down the middle so each side has two floors and a basement—landlord lives on one side. However, one odd thing I found with it that I never saw with another townhouse was a door in the basement storage connecting both sides of the house together. It was a setup where two doors are stacked over each other, like you'd see in hotels to connect two rooms together. Each side's door had its own unique lock and deadbolt, so both sides would need to unlock their doors for there to be access between the two sides. Still, even when locked, it feels weird to have a doorway connecting both sides of the home. Do you guys see how there'd be a problem with this, or an I overthinking it being weird? Edit: reading comments so far, its not that weird and I'm starting to agree lol, thanks for the input everyone submitted by /u/OttoFromOccounting [link] [comments] source https://www.r...

Hello All and Merry Christmas, coming on here to get some advice about a contractor. A little backstory, I just turned 24 years old and first time property investor, in a southeastern city. I bought a run down 2B2B condo in October in a growing part of my new city. $110,000 sales price, 25% down (PITIA = $689, Rental Estimate when fixed up= $1200). The other finished condos in the complex were selling at $140k at the time (much higher now, there is no supply). After closing, there was a lot more work than I anticipated needed to be done on the property before being rented out. I was getting quotes for the ceiling alone for $10k and the lowest all in quote that I got was $15k. That was before the contract I chose offered to do it all for $4500. After months of dragging his feet, raising his estimates and being an overall nightmare to work with, the property is finally done. A lot of the times he would tell me a section was complete over the phone and I would go to the property that ...

If gov could reward the seller for selling to individuals or first time owners (even more) then companies would have to backoff. Example reward: more deductions. Thanks. submitted by /u/Iwillgetasoda [link] [comments] source https://www.reddit.com/r/RealEstate/comments/roejsv/got_an_idea_for_fixing_the_current_market/

Real Estate Investing Principles 90% of all millionaires created wealth through owning real estate. if you have any ambition of becoming rich then, it is important to understand how you can build sustainable wealth through investing in property in the right way! Without a question, real estate investment is an excellent business opportunity for the majority of individuals, as it provides significant financial rewards in the form of both short-term and long-term earnings. Real estate investment provides financial independence to investors, and there is no profit ceiling on how much you can earn in this sector. Whether you are a novice or an experienced real estate investor, you can generate wealth in real estate and save for retirement. However, it all comes down to how much time and effort you are prepared to invest in learning, adapting, and strategizing for the greatest results. The most successful real estate investors have foresight in identifying real estate possibilities befo...

So I'm just starting to learn about the airbnb business. I live in Queens NY. I wanted to know if it was possible to do something with 50k to get started. I want to do airbnb rentals and have guests stay over every single night. What kind of place would I need to buy. How do I go about doing this if its even at all possible. Thank you submitted by /u/United_Succotash_485 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ro1s6i/getting_started_in_airbnb_with_50k/

In case you are curious about the difference between FHA and conventional I put together a detailed video to compare the two. https://youtu.be/LnFRGf-lPus Happy Holidays! submitted by /u/MortgageGuy86 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/robhgw/fha_vs_conventional/

Hi, I have been looking for a home for over a year in Tustin and Irvine region. I am looking for a 3-4 bed home. I feel like I keep getting priced out as I wait, trying to see if the price will stabilize or have a correction. I started by looking at homes around $600-$800K range but now I am looking at $800K-$1M range. I max my retirement contributions, my income is stable $300K, I have 20% down, I will be staying in Irvine or Tustin for the foreseeable future so this is where I want to buy. I am wondering, do I continue to wait or do I overbid up to what I am comfortable making monthly payment so that I can at least enter the market, keep that home for a few years and build equity where I can choose to rent out or sell and roll it into my next home. I have bid aggressively and have had 1 offer accepted in Tustin. The home was listed for $945K, I bid $975K then got a counter and bid $1,015,000 and got the offer accepted. I am wondering if I am overpaying so much that I will lose o...

I'm in the process of purchasing a condo that I have rented for 3 years. I have had no mechanical problems. Given this scenario, is it still necessary to get an inspection? submitted by /u/SnooBooks4898 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/ro916l/is_an_inspection_necessary/

Not sure I like it. submitted by /u/shamblingman [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnugpk/christmas_cards_to_me_and_my_family_from_re/

https://www.zillow.com/house/santas-house/ It’s not funny to me, after all that they did this year. Maybe others might think it is great marketing. submitted by /u/D0nutL0vuh [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnsyj2/is_zillow_crazy/

FTHB. Also, first post. Looking exclusively for multi family homes. My plan is to buy, renovate, and refinance out of the FHA. Do all units in a MFH purchase need to pass FHA livability requirements? I know they are pretty strict. For instance, I'm looking at a property with 2 structures. 2 units in one and 1 in the other. The roof of structure 1 is looking rough, I doubt it'll pass inspection for FHA. But if structure 2 is livable, can the property still qualify for FHA? submitted by /u/PoetryRound2305 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnq8yj/fha_on_mfh/

I have had an account with Huntington Bank since my freshman year of college, so 23 years now. In December of 2019, my wife and I purchase a home and decided to try them out for two reasons. One, a friend recommended them and a broker who I went to High School with, and two, competitive rates. Everything went fine and then COVID hit. I was furloughed for 6 weeks without pay and my wife was permanently laid off. So 3 months after doubling my monthly expenses, half my income was gone. Having significant saving I was not worried about recovering or getting into any serious financial straits. Another friend had something similar happen to him and was offered a forbearance by his US Military Veteran Credit Union. I contacted Huntington who asked me a few questions, and within a few days received a letter saying that I was approved for a forbearance for the months of January thru March of 2021, with an option to extend an additional 3 months. I was told after the 90 to resume payment of my...

After you buy a house, how do you remove the listing photos? Is there a main database like the MLS so you can take down the photos? Redfin, zillow, trulia show the pictures online. Do you have to go to each website and take down the photos? submitted by /u/ChillCaptain [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnsb2a/taking_down_pictures_from_listing/

I am in the process of selling my home. The listing agent is saying that she can also serve as facilitator for a 1% commission on top of the 3% if someone wants to buy and they don’t have an agent. I know this is not the same as “dual agency” which is a conflict of interest, but is there any reason I would not want to accept this proposal? submitted by /u/Successful_Leg_707 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnr6x2/listing_agent_is_suggesting_to_act_as_facilitator/

Going through the refinancing process and they sent a disclosure about it going from a home equity loan to being a non home equity loan. I have a traditional mortgage and am refinancing to get a lower rate. Is this language about the home equity loan correct? That is, is this typical? The home equity loans seemed to have more protections so I’m half wondering if I should take out some equity to get these protections (e.g. must go through court to foreclose). submitted by /u/Volume-Straight [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnrdz8/question_about_refinancing/

I purchased a new construction "smart" home and talked with the construction manager, sales rep and Spectrum prior to closing on the house to plan to have modem delivered day one of moving in. I was told everything should be good to go and then closed and moved in. Closed at the beginning of December, turns out I won't have internet until the end of January due to them having to run lines for hundreds of homes. Do I have any recourse on this? Any suggestions on what I should do or am I SOL? To clarify further, this is a neighborhood with several hundred homes already, all with internet. Apparently I am part of a new "phase" and they have not run internet connections yet to my home. submitted by /u/Dragonfire45 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnoyfi/purchased_a_new_construction_smart_home_no/

Is there a distance from water beyond which a parcel of land can no longer be reasonably called "waterfront" by a seller? If the body of water itself is visible by a 6ft tall standing human, but the nearest boundary is 130m across public land from the actual water, would one still call that "waterfront property"? submitted by /u/_joebocop [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnopi3/what_is_considered_waterfront/

The bill: https://www.congress.gov/bill/117th-congress/house-bill/2863/actions?r=82 submitted by /u/byrd_nick [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rnnepq/how_likely_is_it_that_the_firsttime_homebuyer_act/

Our builder wants to publish photos of our home on their website. Our contract allows that but when I asked the saled manager to clarify that they said they would take photos only for our benefit to document the construction. So I agreed to sign the contract. I know it's my fault of signing with such conditions but is there anything I can do now to stop having my house posted on their social media and site? submitted by /u/yoyololoup [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rn1az6/new_build_photos_and_videos_on_builder_website/

I currently own a house, and I am looking to purchase another house. The house I want to purchase is a $350,000 house. I currently owe $150,000 on a loan for my current house, and have about 175k in equity. My income is currently quite low due to COVID (COVID has severely impacted my industry), but I have saved quite a bit over the years. I have roughly 650k in assets, and am bringing in around 40k/year in the post-covid world. I'd like to rent out my current house (market rate is about $1550 /month). My expenses for my current house are ~$1150/month, so it'd be cash flow positive. I anticipate a 350k house that I move to will be roughly 1.5k/month in expenses, so with the additional income from renting out my current place, I wouldn't really be paying that much more per month. I am willing to put down a 20% down payment by the way. Does all this sound right? Is a 350k house within the realm of possibility given my current situation? submitted by /u/metoo56whoa [lin...

Inspection report came back, not too many crazy things. However, I’m questioning some things.. I don’t know if I should ask for replacement, service or warranty, what do you think? AC/Heating Unit : works, 15 yrs old Heat Furnace: works, 17 yrs old Water Heater: works, 16 yrs old I don’t know much about the life expectancy of these things are but seems like they are getting kind of old. submitted by /u/Most_Point [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmxd0j/home_inspection_complete/

You heard it here first, I bought a house so that means it's all downhill from here. Interest rates are going to creep back up and as such prices will begin to slide. I am happy to have locked in at 2.99%, but I feel like I'm going to be underwater for the first ten years of home ownership because prices are just that high. Hope I'm wrong, end rant! submitted by /u/Batchagaloop [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmy0iv/we_have_reached_the_top_of_the_market/

I’m guessing people don’t want to list houses during the holidays. In your experience is there generally a small uptick in new listings after the new year because people wanted to wait? submitted by /u/many_bothans_died [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmvwn1/christmas_listing_slump/

My agent put in offer on a REO house and the offer was accepted. On the settlement paperwork the final number was 19,000 less than I offered it looked like they calculated the sellers premium incorrectly. My agent explicitly asked the seller about the discrepancy and was assured by the settlement agent and title company that the final number was correct and confirmed by the seller because the buyers premium was included in the sales price. I closed on the house on Monday and today I get an email that the final sales price on the HUD and contract was incorrect and file is not closed. Is this on me or the settlement agent/title company and do I have any recourse. I am already living in the house. I was a tenant who brought it from the bank. submitted by /u/Ok-Anything-6536 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmza8v/problem_after_closing/

Is commercial real estate development better than residential? submitted by /u/Zealousideal-Ebb-357 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmz0oy/real_estate_development/

I am a new mortgage loan originator. All of the training that I have received talks about you have to constantly stay in front of realtors week after week. You need to have a reason to call the realtor not just “Hey just checking in with you today”. From a realtors perspective, what are some useful topics you’d find helpful from a lender? submitted by /u/rhc912 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmyjx4/how_to_stay_in_front_of_realtors/

I see so many people lost about FOMO. I had this feeling once; we really had a hard time buying a house we were outbid 6 times before and we knew if we wanted this house we needed to bid high. We went in $15k over asking price. We did not view the property until after we went under contract. We knew it had the location, size and backyard we wanted. It also had bonus features like a garage and some updates including major systems, new floors and a few other upgrades. After stepping inside the house we knew it needed more updates and before moving in we spent two long weeks updating it; all new paint, light fixtures, bathroom mirrors, door hardware etc. the bright blue cabinets and pink color downstairs were gone. The house is much more our style now however as I look around at sales in this exact neighborhood I realize what was in front of our eyes before: we’ve paid $30k more than anyone else… these homes are all the same sq footage and layout some are completely updated others haven’...

In your experience, when making an offer on a foreclosure, how long does it typically take to hear back? I understand the holidays are going to slow things a bit as well. History: house on the market for months. We viewed on Monday. Price dropped $20k on Tuesday. We offered Wednesday PM and the selling agent said they had 2 offers. They could have come in Wednesday AM but would they really drop the price if they already had offers? submitted by /u/cmpeffers [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmwssy/offer_to_bank/

I’d like to do a cash out refi on my primary residence but I’ve had very little income on paper since Covid due to vacancies and business being shuttered. My rental properties are now leased, but the income doesn’t go back more than a month or two. Is there any way I’ll be approved, or do I just have to wait until the rental income has been coming in for two years consecutively? submitted by /u/TheProdigalBootycall [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmu3uv/how_hard_will_it_be_to_do_a_cash_out_refi_with/

I bought a property last year same time at 450k. Demo'd the lot to build a home and got drawings made, but recently changed my mind. I found a buyer for 650k for land+drawings. My questions: • Because its been less than 2 years I will have to pay the cap-gain tax right? • Can I sell the land for 500k and the buyer can buy the plans for 150k and I can avoid the cap gain? • Should I just wait another year? • Can I sell this easy without a realtor since its just land? submitted by /u/illegalcitizen_CA [link] [comments] source https://www.reddit.com/r/RealEstate/comments/rmat2m/selling_land_and_avoiding_income_tax/

This is a wall of text, apologies in advance. Just a rundown of our experience in purchasing a short sale house in the off chance that anyone in the future explores this as a purchase option. I'll TLDR here to summarize. Know when you make an offer that the house is a short sale or not. Verify that the seller's realtor is aware if it's a short sale or not; the seller's realtor's inexperience has almost cost us the property multiple times. Verify that a title search has been performed by the primary mortgage holder so no unexpected liens come up in the 11th hour. Hire a real estate attorney immediately to be your go to for negotiations. Be prepared for the process to last months, especially if the property was Fannie Mae/Freddie Mae backed. We officially submitted our offer on 6/28 of this year and we're still trying to get through this process. Anything and everything that could have been an "issue" has been. When we first looked at the house and m...