 What does Property sold "as is" mean to a seller? |
| I am selling my house, and a buyer come in putting this term on the contract. What does that mean? And what risk do I have? Thanks!... |
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 What is the best way to go about buying our first house for a young couple w/not alot to put down? |
| Just married w/a little girl. We want to settle in a home of our own and maybe expand our family. We need more room to grow for the future. We both work extremely hard but still struggle on how we ... |
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 My landlord refuses to return my security deposit? |
| I've moved out of state, and they won't return any of my calls. I spoke with them once and gave them my new address and she said that she'd get it right out. That was 2 months ago. I&#... |
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 How long do I have once I receive a final eviction notice? |
| I live in Montgomery County, MD & I recently received a final eviction notice. The notice says I have to get out immediately but does not give any specific time frame. Someone who works at S... |
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 Can a landlord demand that I sign another 1 year lease after my first ends and not allow month-to-month? |
| When I signed the lease agreement, I was specifically told that after my 1 year lease, it would turn into a month to month agreement. My lease is soon to end and now they tell me that they can no ... |
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 Do I have to pay? |
| I am moving out soon and haven't been in my apartment for over two weeks. My roommate says I still have to pay. Well I didn't sign a lease agreement. If I pay her I won't have any ... |
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 How do I ask renters for owed rent in a firm but polite fashion? |
| I am an assistant at an apartment complex and my boss (the apartment manager) just got fired. I just got hired a couple months ago, with no prior experience in the field. Now the higher ups are ... |
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 How long should I give the current owner to move out after closing? |
| I am a first time home buyer and i am buying a house that is for sale by owner. I am in underwriting right now and my loan officer said we should be closing in a couple of weeks. Yesterday I told the ... |
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 Is 48 to old to start a new career? |
| My mom is 48 and does daycare but she is tired of it and wants to do something else. She never earned a GED because she moved out when she was young because of abuse. How can she get another job, to ... |
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 Tenant trouble........ what rights do I have......do they have? |
| I am buying a house that is occupied by tenants. They do not have a least or contract. According to their current landlord, they are on a month to month agreement. I live in Illinois, and to my ... |
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 Interest only mortgage? |
| i am new to mortgages and with my current job etc. i am only able to afford an interest only mortage on the house i am looking to buy, my question is after the term is complete and i am required to ... |
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 How many fees do you have to pay when buying a house? |
I'm listing here those kinds of fees that I think I have to pay initially when buying a house. Can you tell me if I miss anything ?
1. Solicitor fees
2. Stamp duy
3. House ... |
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 I need some advice.? |
| I bought a brand new house for 189,900. dollars. My mortage payment is like almost 1600. a month. Ive been in this new house ONLY for about 7 months,. However, I found a nice cute house with 3 arces ... |
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carlosc1dbz | I want to buy a house and rent it to make money. Is that a good idea? |
I was also thinking apartment complex, but do you have to get financed by a bank, and will they let you rent out the house? And how d you get financing for apartments? |
 |
 
src50
 |
You obviously haven't thought this through and run the numbers. |
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AnomalousD
|
It depends on a lot of things but above all, who would be your target renters?
It is more of a headache than it's worth to rent housing to unreliable or irresponsible renters. Think about how you are going to ensure payment and how you are going to set up lease terms. Make sure you understand all the legislation surrounding landlord/tenant relations.
As mentioned in a previous answer, you won't really make money, you just won't have to pay much or any of the mortgage. You do have to consider how much effort you'll have to put into maintenance and upkeep as well. |
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101 question girl
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I would suggest against it. You really can't trust anyone anymore on who is going to pay and who isn't, even if they have great rental/credit history. If they lose their job and are unable to pay, then you'll have to start paying.
Just some food for thought. :) Have a nice day. |
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D D
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if you have to ask that here than no. |
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joscasta
 |
Its a great idea... since if you look at the economy, people are going into foreclosure, and where do they move? Rental properties!
Honestly, its a good time to buy a rental property since you probably can get one cheaper, and if you maintain it properly, you can keep residents in there for years, especially if you get it section 8 (rent assistance) certified!
Contact your local bank to find out about rental properties in foreclosure, and see what you can possibly do to fix them up and make some money! |
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Cilla
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That's a tough question in today's economy. Technically it is a great time to buy a house, and I know a lot of people are selling their houses and renting (I'm looking to rent a house). It would be a gamble, but as I said so many more people are renting now than buying so it might work out.
I don't know the answer to the rest of your questions. |
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lishamarie3
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not in this market, my husband wanted to i told him if he decided to i wouldn't stick around. I think its a terrible idea |
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cfisher4234
 |
The biggest problem is that you are responsible for the upkeep which is a huge hassel. Also - you have to plan on having it vacant for at least 3 months out of the year - which means no income for those months so you're stuck paying it. Also, renters are known for destroying places on their way out - so you'll have to all the repairs before a new tenant comes along. My bro-in-law has a rental and says it's the biggest mistake and headache he's ever made. |
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tbrminsanity
 |
You would qualify for a business loan as this would be a business opportunity. There is a lot of work with renting (dealing with tenants, maintenance costs, and the bills of the building as well). That being said you can make a fair amount of money in it as well. Word of advise though, don't be a "slum lord" as all it takes is one tenant who is willing to challenge you on any illegal practices to put you out of business. |
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MoRmEx
 |
In the US right now, i don't think it's a good idea with all the mess bush is leaving and all, but it'll be great if you take that same idea and apply it in another country, yeah why not..if you can buy a house in america, you may buy three elsewhere with the same amount, have you thought of that?
Good luck |
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golferwhoworks
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either a bank or commercial mortgage is required. Sure once you own them you are supposed to rent them out to satisfy the note |
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Read My ☆Lips☆
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Buying and then renting is an AWESOME idea, but really, all it does is pay for the mortgage on the rental. You wont make much of a profit. |
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Lily J
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Its a great idea if the price is right! My boyfriend and I currently own a double, we live upstairs and rent out the downstairs. With the price we paid for the house (which determines your mortgage) and the price we charge for rent we basically live rent free. Our downstairs rent pays our mortgage as well as a few of our bills each month!
When searching for an apartment or housing complex you will have to be financed (unless you can pay for it in cash) and you will have to put a certain percentage down (where we live its 25%) because it is considered income property. So basically you have to consider the condition of the house and the price of the house to determine how much your mortgage will be and how much you can charge for rent. If you end up paying more for your mortgage, taxes, etc a year than you collect in rent, then it is not a good idea to buy that piece of property.
Real Estate can be a very profitable business if you do it right. So consider all your options and find one that makes sense financially. |
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We are all screwed
 |
You won't make much money |
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The Yeti
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Not until the recession is over. Housing and real estate are not good investments right now. |
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Jerrold J
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Buying rental properties that have a POSITIVE cash flow is ALWAYS a good investment. Real estate is THE easiest, fastest way to wealth and is the most popular investment vehicle. BUT it is NOT foolproof.
First you need to understand WHAT makes a GOOD rental property. It MUST be in an area with population AND job growth going up (demand) It MUST be in an area where rental rates ( $) are high enough to pay for mortgage payment, insurance, tax's, repairs, vacancy, management, AND profit. It MUST be the right size ( # of bedrooms), the right location, (schools), and the right condition.
YOU need to KNOW how to evaluate the rental potential, evaluate the condition of the title, the building, estimate cost of repairs, tax structuring, purchase options and the cost of each option. have a property management company to handle the rental applications, qualifications, and record keeping. You need to know how you will finance it, the cost of the financing, the carrying costs, the holding costs, evaluate rental demand, project rental growth, job growth, progression/regression, population growth, projected tax increase, and more. You need to understand the time value of money, interest rates and closing costs, entity structuring, how to hold title, how to structure for sale, and your exit strategy.
Once you know these things, IT'S EASY!! |
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