Real Estate: If you started your career in real estate all over, what would you do differently in the beginning? |
- If you started your career in real estate all over, what would you do differently in the beginning?
- Hello Section 8 Landlords, Having difficulty renting out
- What scam are the perpetrators in this video trying to pull? (Michigan)
- What is your take on the state of the housing market ?
- Is there any way to win a multi-offer situation with a VA loan?
- Chose and agent but services are being provided by a co-realtor?
- Buying my first house - Large down payment or pay PMI?
- Best Brokerage for new Salesperson
- Need advice regarding the purchase of our first home! #NYC
- [NC] How'z your experience buying a property from Opendoor?
- Do skyscrapers ever fail financially?
- [Discussion/Theoretical Question] Condo market is suffering in the Bay, best or worst time to buy?
- Sold a house 4 years ago, now the buyer's real estate attorney wants us to sign an amendment to the deed.
- Should I get my real estate license?
- Making a decision to develop a home versus purchase prebuilt or older homes (Houston)
- Text message marketing/skip tracing
- Can I cancel the sale of my land
- It's that time again to help my FIL
- Should I get licensed?
- Anyone with real estate economics and/or low income housing knowledge willing to do a very brief interview for my school project?
- Graduated 1 year ago with no employment during gap, recently hired into newly formed family business, will my income qualify? (South Carolina)
- Are rental companies forgiving months of rent for people due to COViD financial struggles?
- How mad should I be at my realtor? Is it common practice to provide a lender we aren't using to seller's agent?
- Is it worth it to start a brokerage as a solo agent?
| If you started your career in real estate all over, what would you do differently in the beginning? Posted: 05 Jan 2021 06:49 AM PST |
| Hello Section 8 Landlords, Having difficulty renting out Posted: 04 Jan 2021 11:54 PM PST Hi to all seasoned section 8 landlords. I'm having issue renting out my 3bd 2bt suburban unit. It's been in the market for over 3 months now, 2 years ago it would've been snatched up in 2 weeks. But now, I'm getting applicants that act all excited, sign the application and then disappear. Is the market right now in Los Angeles County over saturated with section 8 homes? How is it on your end? [link] [comments] |
| What scam are the perpetrators in this video trying to pull? (Michigan) Posted: 05 Jan 2021 09:25 AM PST This news story started with a man trying to figure out why his house was put up for sale without his knowledge. When reporter goes looking he finds a very weird mess, with several different parties pointing the finger at each other. It ends with someone pulling his house off real estate sites at no cost to him. I'm still confused, it seems like someone was trying to bamboozle someone or some agency, but I don't know enough about real estate to figure it out. Is this a scam or did a group of professionals make a lot mistakes? [link] [comments] |
| What is your take on the state of the housing market ? Posted: 05 Jan 2021 06:24 AM PST My Take: Looking at new construction from builders, looks like they are building homes anywhere they get finished lots. Look at Anna,Tx for example. Far flung town with lots of farmland. Now literally houses built everywhere. Who is even buying these ? [link] [comments] |
| Is there any way to win a multi-offer situation with a VA loan? Posted: 04 Jan 2021 07:28 PM PST Hi all, I've posted here before about using a VA loan for our home purchase in an extremely competitive market. My question is simple this time, and I'm hoping to hear from some RE agents and sellers: Is there any way to win a multi-offer situation with a VA loan in a competitive market? Are VA loan offers dead on arrival? We are offering over asking (but not so far over that it wouldn't appraise), 30-day close, no CC assistance, and offering to pay for VA-required repairs. I kind of just want to be put out of my misery at this point. We are saving for a conventional 5% down loan, but part of me wants to keep the hope alive so we can keep the cash in our pocket or leverage it for an appraisal gap. Thanks everyone for your help! [link] [comments] |
| Chose and agent but services are being provided by a co-realtor? Posted: 05 Jan 2021 09:15 AM PST Hi I have had my townhouse listed since September. I chose a realtor that I liked who is popular in my city and has a team of realtors under his umbrela. After about two weeks he told me he would be away for a week and would have his partner (realtor) show me some properties during that time and answer my calls/texts. It has remained this way for 4 months with my actual realtor engaging only a few times. My place isn't selling and I feel like this junior realtor has basically taken over all customer service activities. He is a nice, professional person... but it's not who I hired. I don't think he has many listings and I'm not sure if he is salaried or something but appears to do all the work... answers all my texts, calls, inquiries etc Is this normal? I frankly have considered just terminating my contract. I didn't hire this other person .. and my place isn't selling [link] [comments] |
| Buying my first house - Large down payment or pay PMI? Posted: 05 Jan 2021 05:26 AM PST I've been struggling with this for a few years now. I absolutely HATE having to pay additional wasted money if I don't need to. So when I found out about having to pay PMI on top of a mortgage and insurance, taxes, etc... I wanted to make sure I could avoid that. I am a Florida resident and first time homebuyer, but as far as I know I have to put a 20% down payment on a house in order to not pay PMI. Also, unless I read it wrong, lets say I put 10% down, even once i reach past 20% of the principle I have to continue paying PMI for the entire loan? Anyways, what this boils down to is that I am having to save for a large amount of capital for a down payment of 20% + closing costs. My price range is around 600k so 120k is a big number. I have that but I would have to sell a lot of my investments. My main savings for my house payment has been what I invested in Bitcoin. Now I am second guessing myself thinking it would be stupid of me to sell all of my bitcoin just to put a big down payment down on a house. Assuming my investments continue to grow, would it be smarter to just suck it up and pay the PMI? Then I can do like 5% down and keep my remaining investment which i believe would outgrow the amount I have to pay for PMI. Any advice is greatly appreciated! Thank you! [link] [comments] |
| Best Brokerage for new Salesperson Posted: 05 Jan 2021 09:06 AM PST HI! I am in the process of becoming a salesperson for the purpose of representing myself in my own home purchase as well as my group of friends. What should I be looking for in a Brokerage? What things can or should I be negotiating? The options that I can currently think of is your major brokerages (Berkshire/Hathaway) Your mom and pop (some local small brokerages) and even Redfin. Thanks! [link] [comments] |
| Need advice regarding the purchase of our first home! #NYC Posted: 05 Jan 2021 08:59 AM PST Hi all! My girlfriend and I are in the process of buying my family's generational brownstone in Bed Stuy Brooklyn. It entered foreclosure under my father because we ran into some financial issues over the years. So essentially, we're taking out a loan to pay off the outstanding balance to the bank and obtain the title/deed from my dad under our new LLC. The initial problem was that we didn't qualify for a standard mortgage loan. We both work in the service industry so our income on paper looks like shit. Also, this is zoned as a legal 2 family although it has been renovated to have 4 separate units. These made it impossible to justify our income to the bank. Now, we have a strategy! It is a very daunting and scary path though so I wanted to see what the good people of Reddit could offer in the way of advice. We are taking a $750k hard money, interest only (9.5%) loan from a private lender. The mortgage broker that we have been dealing with tells us that we will be using this as a bridge loan and that we should be able to get out of it within 6 months at the most. We will be filing our taxes with no deductions. And with months of on-time payments to this loan, he says that he's confident that we will qualify for a traditional mortgage for the same amount of $750k, essentially refinancing. It sounds like a fine plan but Is this a standard course of action for homebuyers? The fear is that we will be stuck in this hard money loan and be forced to sell the house to get out of it. What can we do to guarantee that we can land a mortgage once we pay off the 6 months interest to this private lender? The mortgage broker we're dealing with is Hasidic, not that it matters but he has a very direct, often unorthodox (according to our lawyer at least) way of getting things done, I'm guessing based on his connections and volume of NY business. He's been great to work with and he was introduced to us by one of our restaurant's investors (who is totally vetted and trustworthy.) His confidence that this plan of action will work is definitely uplifting but we're worried about worst case-scenario outcomes here. Gimme some advice! Thank you so much in advance :) [link] [comments] |
| [NC] How'z your experience buying a property from Opendoor? Posted: 05 Jan 2021 08:59 AM PST |
| Do skyscrapers ever fail financially? Posted: 04 Jan 2021 10:21 PM PST I live in the Houston area. This past year a high rise office building was vacated after the oil company was gobbled up by another. (As one does in the oil biz, right?) The property that was their HQ is still very nice and well kept. I was driving by it this evening and wondering what the next tenant will be. Downtown Houston is full of skyscrapers with more being built every year. (And thanks in part to no zoning laws, we have several "skyline" clusters of buildings: downtown, "uptown"/Galleria, Texas Medical Center, Greenway Plaza, Energy Corridor/Memorial, Westchase, Greenspoint/"gunspoint") Such enormous projects certainly have a lot of big money investors backing them and are probably not looking for a quick payoff. Commercial construction can be somewhat risky I'd imagine, but do such projects ever fail financially? What does that foreclosure process look like if there aren't enough tenants to pay the bill? How would that work? Do those investors just not see the returns they expected then liquidate the property at a loss? So then the next owner has a go at it after purchasing at a lower cost before selling for a loss and on down the foodchain? What comes of old skyscrapers that are not architectural standouts/masterpieces (Like just a plain old glass/stone box? What does one do with a failed, plain vanilla skyscraper? Buying it as a teardown seems ungodly expensive unless your plot of land is pure gold (Manhattan or downtown Chicago). How often does that happen? [link] [comments] |
| [Discussion/Theoretical Question] Condo market is suffering in the Bay, best or worst time to buy? Posted: 04 Jan 2021 08:46 PM PST Despite the fact that single family homes are selling left and right, far above asking, condos are not doing well in the Bay area. The condo industry seems to be tanking honestly, I'm seeing price drop by $20k every two weeks on some listings, only for the seller to give up and remove their listing altogether. In your opinion, would you say this is the best time to buy to take advantage of the crap market? Or should you wait and let the sellers stew more? [link] [comments] |
| Posted: 05 Jan 2021 08:41 AM PST We got a call from the buyer's real estate law firm 4 years later, saying that there was an "issue" with the plat. They want us to sign an amendment. My instinct tells me "heck no". I don't even want to call them back, because I want no involvement with property line disputes on a house/property that we no longer own. Can I just keep ignoring their calls? [link] [comments] |
| Should I get my real estate license? Posted: 05 Jan 2021 08:39 AM PST I'm currently in my late 20s. I have a master's degree and work a corporate 9-5 job behind a desk making $75k/yr. I don't have any debt and have enough in savings to last for me a bit. I don't like my job. In fact, I haven't really liked any of the jobs I've had - they're all corporate desk jobs and I don't get any excitement or enjoyment out of them. I have no motivation to do anything but the bare minimum at work. Ever since high school, I've always had "side hustles". I have an eBay store and have flipped items for awhile. I also do photography as a side job for various people. Even though I never made enough money to live off of with these, I still always prioritized them over my actual 9-5. Lately I started doing food deliveries through Uber Eats and have enjoyed it tremendously. While I reluctantly wake up on a Monday morning and dread having to go to the office, I'll jump out of bed excitedly on Saturday and Sunday morning at the thought of doing deliveries and making money. I think am the type of person who's driven by my own efforts and I think working as a real estate agent could be a solution to this. With that said, what advice would you have for someone like me? [link] [comments] |
| Making a decision to develop a home versus purchase prebuilt or older homes (Houston) Posted: 05 Jan 2021 08:23 AM PST Girlfriend and I are considering moving to Houston. We like our home we have in Miami except for the location, the people, and the amount of land. Ive never built a home before, however we have ample time on our hands before we make the move (1 year+) . I wanted to consider building our own home. Any words for advice for going down this path? Ive heard its a win win situation if youre patient (usually a cheaper home + customized to how you want it) [link] [comments] |
| Text message marketing/skip tracing Posted: 05 Jan 2021 08:20 AM PST Do you guys prefer Lead Sherpa or Launch Control for your text message marketing/skip tracing? Pricing seems pretty similar…Who has used both? [link] [comments] |
| Can I cancel the sale of my land Posted: 05 Jan 2021 08:06 AM PST We made a private deal for my property in saskatchewan. I got a higher offer now. So far we both signed the offer to purchase and he sent me a deposit. The offer to purchase was signed by both of us past the expiry date on it. And it was clearly stated in our emails that it was past the expiry Would that be enough grounds to back out? [link] [comments] |
| It's that time again to help my FIL Posted: 05 Jan 2021 07:50 AM PST It's that time again where I help my FIL fix up his house that he rents. I lived in that house for a couple years with my soon to be ex wife and the property has so much potential to be absolutely gorgeous. It sits on top of a hill overlooking the river and it's secluded. Only problem is that it's a small lot but that's of no concern to me. Anyway this place has been a huge headache to him but it has a lot of sentimental value to him. I'd love to purchase it for the land alone. The house is basically falling over. The septic tank was installed ass backwards and it's just falling apart due to lack of time and funds. I believe he owes something like 30k on the mortgage, the house lists on zillow and other sites for 180k but according to the tax assessment it's only valued at 108k. I ask him everytime I help him if he's willing to sell. He never is. And I feel like he would want the 180k value which is just asinine. I'd be willing to pay 80k for it as is. Is this unreasonable or what should I do? If this doesn't belong in this sub please delete this. Thanks for advice in advance. [link] [comments] |
| Posted: 05 Jan 2021 07:41 AM PST I'm 46 years old, and have 25 years of sales and marketing experience. I currently have a six-figure sales management job in the manufacturing sector. I am considering getting my real estate license, and wondering if it is worth it for me to do so. The main reason I am considering it is that I want to begin purchasing rental properties to create an additional income stream and long-term investment toward retirement. I'm thinking that having my license may be beneficial. I do not intend to switch careers, but I think it might also make sense to have it as a fallback career option, or maybe a part-time gig. I've seen online programs that are cheap and offer a guarantee to pass the state licensing exam. Just wondering if others have done this, and if it is worth getting a license for what I am intending to do. [link] [comments] |
| Posted: 04 Jan 2021 10:09 PM PST Basically what the title says. I am a 17 year old doing research on low income housing economics for my high school project. For this project I'd have to conduct a short interview (around 15 mins). I'd love to interview anyone but the requirements for my project are that the interviewee needs a degree in a related field or extensive experience in the field. Please PM or comment below if you'd be available for a quick interview via Zoom. [link] [comments] |
| Posted: 04 Jan 2021 07:20 PM PST I graduated from university over a year ago during which time I had no employment. My father has just started up a new business in the last few days and wants to hire me on as an employee. I was wondering if this income will qualify for the mortgage application process and just how long I need to show proof of employment for. Will my offer letter and first paystub suffice? I obviously have nothing to show in my personal tax returns because I was a student. I also understand that the only stipulation lenders have is that I have 0% equity in the business or else it would be counted as self employment income. [link] [comments] |
| Are rental companies forgiving months of rent for people due to COViD financial struggles? Posted: 05 Jan 2021 04:35 AM PST Are rental companies forgiving months of rent for people due to COViD financial struggles? My brother lives in Denver and hasn't paid his rent in 4 months. He has been employed full time. He claims his rental company got a bailout of cash and is paying his rent and the rent of many others in his building. Is it possible that my brother is living rent free and will not be expected to repay the months missed? (He was not required to send in any proof of financial trouble) [link] [comments] |
| Posted: 05 Jan 2021 04:04 AM PST Since the responses to my question yesterday were so helpful, I'm asking another one. My realtor gave the name of his preferred lender to the seller's agent on my behalf even though I'm not using them. Is this a big deal? Backstory: The Realtor recommended I apply to his preferred lender because of his confidence in their current turnaround time. I did but I also had a pre-approval in hand from another lender. The preferred lender was very nice, asked for some additional documentation, and then I didn't hear anything for several days. After I made an offer with the current pre-approval in hand, I was concerned about some of the additional documents asked for and reached out to the preferred lender on a Sunday asking about status. Didn't hear back, but totally understand it's the weekend. I then found another lender that will work great. However, on Monday preferred lender sends a text to me and my realtor that he just got off the phone with the seller's agent and had a good conversation, and that my pre-approval letter was ready. (I had no idea they issued me a pre-approval letter and had moved on). I feel it's was shady for my realtor to provide the name of a lender that I'm not going to use to the seller's agent and has lost my trust. I guess I feel that the lender was having a conversation on my behalf even though I didn't want that lender to represent me. I feel like the realtor trying a backhanded way to get me to use his preferred lender which is why I've lost trust. The seller was also doing some shady things, so maybe I'm just on tilt and I'm looking for a reality check. Is this a common practice, or time to find a new realtor? [link] [comments] |
| Is it worth it to start a brokerage as a solo agent? Posted: 04 Jan 2021 09:52 PM PST Would it be beneficial for an agent to consider starting a solo brokerage? At what point would you consider this? And is the extra effort worth it for any savings on commissions? I'm about to take my licensing exam and become a part time realtor mainly to save on costs on my own family developments (about 10-20 or so properties in a given year valued at over $1mil+) while running another business. Would it be beneficial for someone in my position to consider this? [link] [comments] |
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