Realtors: How to find a low income realtor for selling... |
- How to find a low income realtor for selling...
- Something to share with your clients on smake and HVAC.
- Lender is blindsiding my buyer with $6000 more in closing costs than she expected. No idea what to do. Please help. Closing is scheduled for next week
- Qaazzoo
- Resources for market updates?
- DRE rejected transcripts..... did anyone use Real Estate Express?
- Can anyone tell me...is this a good deal?
- Has anyone done a vender finance deal?
| How to find a low income realtor for selling... Posted: 19 Sep 2020 08:24 AM PDT My mom has a property in Tucson, AZ but lives in Phoenix. She has a hard time trusting realtors. Her idea for the property is to sell to a low income family who could benefit for it and not necessarily to get the most out of it. She was going to get some names of realtors from someone who told her they specialized in that type of sale but due to unforeseen circumstances it did not happen. Question is how to find that type of realtor especially with no family living in city of property? edit: Thank you all for the responses! I want to say I wasn't trying to be rude or skirt on potential illegal areas. It has been an issue for years with this condo/townhouse (not sure which it would qualify as) and her trust issues. It sounds like directly finding a family or rent-to-own is her best option. Thanks again for the input! I figured this might be the best way to figure something out to get her on the right track since I don't live in the same state. Thanks again and sorry if I sounded rude! [link] [comments] |
| Something to share with your clients on smake and HVAC. Posted: 19 Sep 2020 10:54 AM PDT Your air filters need to be changed at least quarterly. In this smoky time, maybe more often. If your filter is 50% clogged then it takes almost twice as much energy to move the air through the system. If it gets so clogged that the air pressure builds up and the filter fails (collapse) then the air system itself gets clogged and increasingly becomes ineffective. If this happens, you'll end up paying literally hundreds of dollars to have someone come out and clean the HVAC system. HEPA filters with catch smaller particulates like smoke, but will clog faster because the holes are smaller in the filter material. They are also significantly more expensive. Sometimes the difference between filters is simply more square footage of filter material. The cheaper ones have fewer pleats so the SQFT is less. this means for the same volume of air they will clog faster. In most cases, the filters don't really clean the air for the occupants so much as they keep dust and particulates out of your air system. Buying the very cheapest filters offers almost no protection. You can literally see through them meaning that most of the dust gets through. I'm also not a fan of cleanable filters. They are prone to mold build-up. It's simply almost impossible to clean them in such a way that over time they don't build up mold and other organic growths that you don't want to spread about your home. The disposable filter medium is a feature, not a bug. This from 15 years as a property manager. I can't tell you how many times a tenant called to tell me their AC system stopped working to find out they never once changed their filters. [link] [comments] |
| Posted: 18 Sep 2020 03:08 PM PDT The lender told my buyer he would enroll her in the First Time Home Buyer's program but it turns out he never did. Now my buyer needs an additional $6,000 to close. Closing is being scheduled for some time next week Apparently, the FTHB program takes like a whole month but is there any way to have the process expedited? Also, I have a mentor who was assigned to me in my office. It's one of the reasons why I really wanted to work here. Just some background so this all makes sense:
I asked my mentor how this could work, seeing that the house appraised for $320k and 325 > 320. She said the buyer "could just build it into the loan". What does "build it into the loan" mean? Could we do that even if the house only appraised for $320k? I asked for clarification but it's just all way over my head. So yeah, 2 things, kind people of reddit
Please help, thank you. [link] [comments] |
| Posted: 18 Sep 2020 02:54 PM PDT |
| Posted: 18 Sep 2020 08:43 PM PDT I'm about to get licensed here in Illinois and I would LOVE to know some of your resources for keeping an eye on the market. I'm planning my social media strategy and would love to include some "Market Update" of sorts, but I just don't even know where to get started with grasping what's out there! Any sources would be appreciated :) [link] [comments] |
| DRE rejected transcripts..... did anyone use Real Estate Express? Posted: 18 Sep 2020 04:20 PM PDT Hello! My wife and I decided to get licensed in California. We both took online courses from REE and sent in our transcripts and apps on the same day. She received a notice in the mail saying they required sealed transcripts (doesn't say on app or req page) and I didn't get anything back yet. The only issue is we gave them the transcripts that REE has on their website. We reached out to REE to see if they have any other official or sealed ones to send over. But has anyone used REE and sent in an app successfully? [link] [comments] |
| Can anyone tell me...is this a good deal? Posted: 18 Sep 2020 06:07 PM PDT I got 2 separate emails today from an out of state broker concerning a commercial ground lease for sale. Do the following parameters seem like it is worth pursuing or isnt it realistic? Following are the messages from the broker: MESSAGE 1) I have available for sale on a confidential basis a ground lease under a 6 story office building on 1.6 acres of land in Stamford, Connecticut. The building is 127,967 sf and has 353 parking spaces. Fee simple appraised value of the property is $23,000,000 and the NOI is $1,600,000. The 99 year lease starts with year one ground rent at $388,000 with 2.12% annual increases with a CPI look back adjustment every 10 years and the ground is being purchased for 40% of asset value and the ground rent has over 4 times coverage. There is no repurchase option. The building is over 90% occupied as of late 2019 by a range of regular tenants, typically 3-5 year leases. The building has been fully stabilized since 2019 and is mostly leased. It was built in 1978 and renovated in 2015. During COVID, the building experienced an increase of interest from tenants as many did not want to be going into the city and were looking for space closer to home. Actual land value is estimated at $4-5 million. Suggested price of the ground lease is a $9,200,000 (4.2% cap). The seller tells me that debt can be arranged roughly as follows. You can buy this with 15-18% down as a zero where in 30 years you will have it free and clear (or possibly with a verysmall balloon), or with about 25% down with 10 year interest only debt which will show 7-8% cash on cash year one and averaging about 10% over the first 10 years. Please let me know if you could have further interest in the above. Best regards, MESSAGE 2) I spoke with the seller today and he told me that he can arrange financing for the purchase of the ground lease for 70-75% of the purchase price for 10 years interest only wherethe cash on cash returns will average 10% per year so that in 10 years 100% of the capital will be returned to the investor. And you will still have 89 years remaining on the groundlease term. Please let me know if you could have further interest [link] [comments] |
| Has anyone done a vender finance deal? Posted: 18 Sep 2020 04:45 PM PDT Curious if you guys have advice. I'm in Canada if there's a difference between here and US. [link] [comments] |
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