Skip to main content

First time Home owner! Need some legit advice

So i want to start off by saying im 19 and i work front desk at a real estate office, im extremely interested in buying investment properties and i want to start as soon as possible. Ive saved up a good amount of money and i work two jobs as well, i also go to school and get a lot of money back from fafsa and certain grants. i have a high credit score and my parents are willing to go into the loan with me and live as my tenants while i pay my way through college. We also want a duplex so we can rent out the other side. I feel like i have a good plan, im not trying to rush into things and im trying to save uo enough to atleast have a sizable down payment on the property. I work with real estate agents and every time i try to ask them about my plan or if its a good time right now in the market for a first time buyers it feels like theyre just looking to get me to be their client and not really giving me real advice. is the market now a good time to be a first time home owner, ahh im just so nervous!!

edit; basically, is this a solid plan? please poke holes and ask questions that make me think bc i feel like i have things worked out but i feel extremely under prepared.

submitted by /u/Narrow-Dare9068
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/w6vmh7/first_time_home_owner_need_some_legit_advice/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...