Real Estate Investing: My realtor failed to forward my earnest money resulting in us to fall out of contract |
- My realtor failed to forward my earnest money resulting in us to fall out of contract
- Is there a “Zillow” for Commerical real estate?
- What would you do if you had to start all over?
- What is the average percentage increase in listings of homes in the Spring?
- QuadPlex for 140k
- How much do you trust property managers?
- 1031 Exchange multiple houses rolled up into one
- Where can I find a mentor to help me with my first 2 or 3 purchase?
- Refinancing to Primary Loan Question
- Rates and Home Prices
- Who is the richest real estate syndicator?
- Knowledge is power: book recommendation
- Anyone else kind of discouraged with all the support for renters>landlords?
- $43K now what?
- CPA search
- Small Loans With Traditional Financing
- Building in the county. ( long read)
- Can I shop my interest rate around?
- What should I know about post-closing helocs to recover liquid access to the down payment equity?
| My realtor failed to forward my earnest money resulting in us to fall out of contract Posted: 10 Apr 2021 02:06 PM PDT After paying for all of my inspections coordinated by my realtor and securing funding from my credit union, my realtor informs me that the sellers have backed out of contract based on that they haven't received my earnest money. They have accepted a back up offer for only 10k more. My earnest money was wired to my realtor as soon as the our purchase agreement was signed by the seller. My realtor is now telling me that the seller wanted too much in the first place. I'm pretty pissed considering the seller was going to pay for some of the repairs, and the property was a solid investment. What is my recourse? How do I recoup my costs for the inspections? Update 1: it seems that I sent my realtors brokerage company my earnest money and no one sent it to listing company. Here is where it is specified in the PA which listing company is to receive the EM: https://i.imgur.com/DLsSv3k.png Updates 2: I've contacted and explained the situation to a Realestate attorney to make sure I'm not being taken advantage of. My realtor has agreed to reimburse me for all the inspections and will have a check for me this week. I think I'll have to find a new, investor friendly and tech savvy realtor. [link] [comments] |
| Is there a “Zillow” for Commerical real estate? Posted: 10 Apr 2021 09:03 AM PDT Looking at my first commercial property and wondering the best places to advertise small commercial units? The best I've seen is loopnet. [link] [comments] |
| What would you do if you had to start all over? Posted: 10 Apr 2021 03:06 PM PDT Hey guys I'm just curious if I could get any advice on how to start out. So how would you change your RE investing journey if you could start over today? I'm especially interested on topics such as location, down payment size, types of homes (Single family, Multifamily, etc.), and when is a good time to buy? Personally I have a large majority of my net worth in the stock market, and would like to diversify to other asset classes. [link] [comments] |
| What is the average percentage increase in listings of homes in the Spring? Posted: 10 Apr 2021 05:36 AM PDT I am looking for a place to find some housing stats and wanted to see the typical increase in number of listings in a given market from say from February to March. I've searched, but can't find so hoping someone else may know where I can find this info? [link] [comments] |
| Posted: 10 Apr 2021 06:59 PM PDT So I was speaking to a builder earlier today and he told me that building a quadplex would set me back 140k, 8-10mo. It seems a little low. I am in South Florida. The land where I am is a bit expensive. Anyone thinks it's too good to be true? Any experiences to share? [link] [comments] |
| How much do you trust property managers? Posted: 10 Apr 2021 10:19 PM PDT I've heard all kinds of opinions on property managers and property management in general. Obviously it is impossible to generalize about a whole industry, but I am curious if you own a property what your experience with property management has been? [link] [comments] |
| 1031 Exchange multiple houses rolled up into one Posted: 10 Apr 2021 09:55 PM PDT I'm having a hard time finding info on this. If I have 5 houses that all sell on the same day for 200k each. Can I exchange the equity in all five properties into a single property? AND does that higher value property need to be worth more than 200k OR more than 1MM (the combined total values of all 5 properties sold) [link] [comments] |
| Where can I find a mentor to help me with my first 2 or 3 purchase? Posted: 10 Apr 2021 06:44 AM PDT I'm looking for a mentor to help me with my first 2 or 3 BRRR's to make sure I can get my ARV over the 30% I need, as well as helping me plan the bridge loan to obtain my first property, and then to pay off that bridge loan. [link] [comments] |
| Refinancing to Primary Loan Question Posted: 11 Apr 2021 12:27 AM PDT I have a duplex that I'm house hacking. I've owned it for only 3 months and have a owner occupied conventional loan. I want to buy another duplex and will use a hard money loan at 8% interest. In 9 months from now, can I refinance it to be my primary resident? My plan is to rent out first property, move in to second property. Hopefully cash out and get 80% ltv on second property @ around 3% interest [link] [comments] |
| Posted: 10 Apr 2021 10:40 PM PDT Could someone give me some insight as to why mortgage lenders are pushing higher rates when the cost of the homes are rising so fast? Aren't they worried about pushing people out of qualifying? Or recognize that it could slow down buying of homes? [link] [comments] |
| Who is the richest real estate syndicator? Posted: 10 Apr 2021 09:49 PM PDT |
| Knowledge is power: book recommendation Posted: 10 Apr 2021 12:21 PM PDT Hey guys, I live in Europe and will soon enter a new stage of my life and I hope to be able to invest in real estate in abou 18 months. My goal is to begin my career flipping property and when I have a large enough nest, invest in renting. This is the general idea, and of course it can change. I have been listening to the BiggerPockets podcast and to random youtuber's for a while now but I want to systematize my learning. I see a lot of great posts on this subreddit and want to ask you the question: what all-in-one real estate books do you recommend? I want to mostly learn the ropes of the business: how to evaluate properties (as mathematically as possible), calculate expenses, know what to rent and what to flip.. In this stage I have a lot to learn and I'd love to hear your opinions, especially with regards to European/international investments. Thank you for your time!! [link] [comments] |
| Anyone else kind of discouraged with all the support for renters>landlords? Posted: 10 Apr 2021 08:25 PM PDT There is a recent story I read about a man in Merced, CA who is owed $17,000 in rent and his tenants refused to move out. Because of the laws enacted to protect renters during the pandemic he was forced to sell his property at a 70k loss. He decided it was better to lose out the 70k and have the new owners deal with the tenant problem. My family is heavy into rental house investing and they hardly invest in stocks but recent events make me think about just having a 401k and a personal investing account and never have to deal with this type of stuff. Especially since I live in California and cannot imagine paying 3k a month rent out of pocket to feed my investment properties mortgage, and that's not even counting the property tax, etc. Anyone else recently get discouraged by their state/countries lack of help to landlords while wholly supporting renters. Here I was ready to purchase a 400k property at the end of the year but now I am thinking "why should I deal with this hassle when I can just dump all my money into $VTI and enjoy my 6-15% a year hassle free". [link] [comments] |
| Posted: 10 Apr 2021 07:31 PM PDT A few days ago I received $35K, currently in my bank account is $43K. I plan on leaving for the military( air force or space force) at the latest(hopefully) in August for basic training. For the past two years or so I planned on joining the military and getting into real estate, well now things are coming together, and I was wondering what are some videos I should watch/ YouTube channels. If reading and taking notes is just as beneficial as watching videos or what. I've read a book before and watch several hours worth but I still feel like I don't know much about real estate. Any advice would be very helpful thank you. [link] [comments] |
| Posted: 10 Apr 2021 11:29 AM PDT I only have 2 properties so I have been doing my own taxes for the first few years. However I want to get a CPA this year to make sure I'm not leaving money on the table. Are there any key words to look for when finding a CPA knowledgable in real estate? Any red flags to look for with CPAs? I've always just been a do it myself on TurboTax type of person [link] [comments] |
| Small Loans With Traditional Financing Posted: 10 Apr 2021 10:24 AM PDT New investor here trying to get into my first deal with two partners by the end of summer. I was wondering if anyone has experience obtaining loans between $50k and $100k? The market we are interested in has the best price to rent ratio in the state and I think it is a fantastic city to get started in. However, the average rent in the city is very low (between $800 and $950 per month). The only deals that make sense generally are between $50k and $120k and there are actually a fair amount of properties for sale in this price range. My worry is that we won't be able to obtain traditional financing from a bank with a loan amount this small. Is this viable? Have any of you done deals like this? If we will have trouble getting bank financing, what other options would you all recommend? Thanks in advance! [link] [comments] |
| Building in the county. ( long read) Posted: 10 Apr 2021 12:12 PM PDT |
| Can I shop my interest rate around? Posted: 10 Apr 2021 09:39 AM PDT Taking the plunge into real estate investing. I got pre approved for financing an investment property in Florida but after being told the rate would be in the 3s, I'm now being told it's 4.375% Can I shop around my rate? Will I need to have my credit pulled each time I want someone to give me a rate? What's the move here? [link] [comments] |
| What should I know about post-closing helocs to recover liquid access to the down payment equity? Posted: 10 Apr 2021 08:10 AM PDT I'm buying a duplex to live in half and rent out half. I can afford 20% down but I like having a large emergency fund of liquid cash on hand. Post-closing helocs seem like a good way to leave my equity in the house but keep it more accessible if necessary, but I'm having trouble finding resources about the pros and cons that go into actual factors (rather than just basic descriptions of what it is). What are the practical pros, cons, and surprises with this? Is there generally accepted wisdom here? [link] [comments] |
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