 1st day in a new apartment.. Next door neighbor complained.? |
Today was Day 1 at my new apartment. I decided to bring blankets and sleep there for the first night.
I got there around 11pm, put my blankets on the floor and lied down.
At 12am my ... |
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 About to buy a home! But a few ODD questions.? |
First off let me show you the home.
http://www.realtor.ca/pr
It is a small 2 bedroom home, On a nice quiet street- I have been communicating with Edward ... |
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 Ok my brother wants to buy a foreclosure house but get this hes 16years old? |
any i was wonder if its even possible for him to buy a foreclosure house it kinda peaked my curiosity
Additional Details
and i heard that its possible if he has like our parents to co ... |
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 Bottom Line: Do Real Estate Agents Deserve 6-7% of a person's net worth? |
In short, for working 12-40 hours, do they deserve the equivalent take-home pay of almost a year of labor??? (assuming most people have a 30 year mortgage and pay about half to it each month...)
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 My rent is due the first day of the month..? |
| and the first day of this month was a saturday and the office was closed. I could not get to their drop box to drop it off either. I don't think I can get it to them til tuesday the 4th since ... |
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 Is 5% too high to pay a real estate agent? |
| I live in Pleasanton CA, and have recently been informed by a friend that my agent is robbing us, by charging 5%. Is this true? What is a good percentage? And does anyone have any tips on ... |
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 Based on our income what would be an affordable home price? |
| My fiance makes about 95,000 a year and i make about 85,000 a year. what is an affordable home price? we are both 27 years old and still have time for raises and advancements in our careers. We live ... |
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 As a tenant, what can I tell prospective buyers? |
I have a question for those 'in the know' here.
Our landlords have been pretty deceitful about the house. They lured me in with promises to update and fix things but never did ... |
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 Is there anything i can do about my neighbors guitar noise in my apartment?complex? |
| theres not a certain time of the day or an exact day of the week that he does it, but it's annoying as hell. the floor shakes and you you feel the vibrations when you're trying to watch a ... |
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 Are you sheltered from the mortgage crisis? |
| because you are lucky or becasue you have a 3 suitcases full of product in your closet?... |
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 Where is a good place to move? Why? |
| I would like to move somewhere that the cost of living is affordable, housing is reasonable, good school systems, wages with an B.A. degree or higher pays well, crime rate is not high, and a great ... |
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 Buying 1st home, 30 yr. fixed,10 yr interest only loan? ADVICE? |
| I have applied for a loan of 160,000.00. Approved for 30 year fixed @ 6.75%, 10 yr interest only + (including taxes, insurance, haz-insurance). I am pleased about the payment. What do you think about ... |
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 Being evicted? |
| This month has been hard on our family. We ended up paying rent very late. (just on sat) But we paid it in full and late fees included. This was the only time this has happened. The landlord came ... |
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 ADVISE PLEASE!!! Should I stay in the house I am in, or should I move? PLEASE READ BELOW? |
| I am currently renting a home, my landlords decided to put the house on the market and do a short sale. After an open house and 3 other showings, the real estate agent said that she received ... |
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 My parents want to buy a home under my name. What should I do? |
| I'm 22 with pretty good credit and a good paying job. My parents have never owned their own home but now that they're more successful business wise, they're up for it. They both have ... |
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 Is it possible to buy an island for about $2 million? |
| i herrd that leonardo de caprio bought an island for 1.2 millon and i was wondring is it tru becaue i have about 2 million saved and i would love to buy an island where can i get the info?... |
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 Can my landlord require me to do this? |
| My lease ends at the end of this month, and my landlord is sending me 'requirements' to move out. One of them is show her proof of final payment for utilities (in my name). I don't ... |
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roccon | I want to get into buying property for rental purposes. Do I need to have a realtor's license to do so? |
Also how do I go about buying foreclosed property? |
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sooners83
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No, and No - Anyone can buy as many homes as long as they can pay for them. Here in my state (OK) you do not have to be a realtor to buy foreclosed properties you just have to follow the rules of the bank or state that is selling the home. Having a realtor's license might save you money in the long run but it might not also. Most of the rental homes you buy should be from a private seller because they are more likely to help you finance the home and you have no 6% fee. |
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dumpllin
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No it's just like you would be buying a house to live in...
Forclosed properties are usually listed in the newspaper or legal papers |
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newmexicorealestateforms
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Nope, just money.
Join realty tract's web site. |
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DANIEL D
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No.... But you might want to look into getting a real estate lisn., it will help you with transactions and you will be able to possible make some extra money along the way. Good Luck |
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AllCourt
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No need to have a realtor's license. Also, I would personally discourage it unless you REALLy want to be one. As a realtor in a transaction you can be more liable for certain mishaps than other individuals, just on the basis that you are supposed to "know better" and would be considered to be a real estate professional in the eyes of the law.
Property that has been foreclosed upon is available for sale through the same channels as any other property, generally listed by agents, or by private sellers. |
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Price is what you pay for value.
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Would you consider delaying your plan? Professional investors are careful in choosing each investment that would be near or immediately cash flow positive. With overpriced housing market, that is not possbile.
For example, it costs $500,000 to $550,000 to buy a two bedroom units in Sunnyvale California. Mortgage monthly payment with nothing down is $3500 to $4000 a month with 7% APR. The rent one can collect from such unit would be $2000 a month. Therefore, for each unit you buy, you would lose $1500 a month.
* We assume tax benefits would cancel out with tax and maintenance fee. Please consult your CPA.
**If you have large down payement, the rate may be lowered.
Another important factor to consider, home price may not appreciate as much anymore. In most area of the U.S., housing price stopped going up as inventory continues to build up. It is normal to see a correction as a boom that lasted for several years.
If you are investing new money in to real estate, this may not be a good time as the potential return on investment is small compare to the high risk of lower home price.
If you are doing a side way move, meaning you are selling one to buy another one, then it is acceptable.
Nothing is absolute, but housing market is very likely undergoing a correction and this is only the beginning. Some say this would be a soft landing (0 to 10%). Some say a big crashing is coming (10 to 20%). |
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Vicki D
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No, you don't need a realtor's license. I own 57 rental units (two fourplexes, a 20-unit building and a 29-unit building), and I don't have a realtor's license.
Depending on where you are, you may want to join your local multihousing association. This is a group of landlords that meet periodically and discuss rental trends, have educational seminars on landlord/tenant law, etc. Definitely worth the money.
You should contact your lending institution about buying foreclosed property. My only advice regarding that would be to be careful - both about having a very intensive inspection, and about the geographic area the building is in. The old adage about location, location, location is incredibly true with rental property. My 20-unit building is in a "transitional" part of town - the rent is half what I get for similar units in a good part of town, and I have pretty big turnover and less-than-ideal tenants in that building. I bought it in March, betting that the area is going to continue to improve - but in the meantime, it is one big pain in the backside, and a financial drain you wouldn't believe.
I also work on the side (a "real" job), and finance my buildings on 15 year mortgages. The mortgage payments are big, but are covered by the incoming rent. There is no profit on the buildings for the life of the mortgage - you're just meeting expenses - but when the mortgage is paid off, after you pay for utilities and maintenance it's all pure profit, and at that point I will retire and live off the rental properties. Given that that means retirement at a pretty young age, it's a nice plan. So far, working out very well.
After you get your first building or two (depending on how big they are) and build some equity in them, you can leverage that equity to buy more/nicer/bigger buildings.
Have fun! Feel free to e-mail me if you have more questions. I love talking rental property! |
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innovativeinvest@sbcglobal.net
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No way...Want more info contact me by email or check ot my link..
http://www.myspace.com/mariaentrepreneur
Real Estate Investor |
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doinou
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No. Contact banks and ask for their foreclosure list. |
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President, www.HSAInside.com
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no, and I would recommend waiting till next year before purchasing anything |
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lspalletta
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You can work with a Realtor and invest the best way to do this is to by forclosers as cash deals and then sell them after you get them in better shape. if you buy them and finance them you have to wait at least 6mths to sell them because you have to have some equity in the home b4 your lender will let you sell without penalty. Hope this helped ya a little if ya want to know anything else e-mail me. |
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