 How safe is buying land off Ebay without seeing it first? |
Additional Details
this is a family owned business and they are sending me the paperwork and pictures of the property through the mail. I'm thinking I'll have an attorney look ... |
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 Can a water utility company withhold service from me because of a previous owners unpaid bill? |
| Mr. A was the orginal owner of the house and he died of old age and gave the house to his sun Jr. Jr sold the house to Mr. B and Mr. B died in a car accident so the house is sold to me. Before Jr. ... |
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 I made 2000$? |
| and i want to know what to spend it on... I already have a houses and cars maybe a nice rolex?... |
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 Can I come over to your house tonight? |
| I will bring some food and my dog.... |
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 Who is responsible for a fraudulent appraisal? |
| Our mortgage was approved based on a fraudulent appraisal. We signed the note believing we had 50 thousand in equity, now we find out that we actually owe more on the home than it is worth. Does ... |
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 Council have said they are considering us for a house - does that mean we have got it? |
| We are seriously overcrowded and are 5th on the housing list in our area. We have been told we are being 'considered' for a house nearby which we have shown would be a perfect size and ... |
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 Do you pay property taxes on a highrise condo? |
| I'm looking at a highrise condo for sale in a building downtown that has about 200 other condos inside. In addition to whatever the mortgage on the highrise ($320k) would be there is also a $900 ... |
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 My landlord wants to pay me to break the lease on my apartment, how much should I ask for? |
| I am currently more than half way through a 2 year lease (I have until April) on a $995/month apartment. I have been complaining to the Health Department about a lack of sufficient heat. Now, my ... |
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 Should i pay for it ??? |
| just rented out my apartment in spain for 6 months to an english guy - he wants me to install sky tv and he pays the monthly viewing charge. it will cost me about £290 . would you pay for it ??... |
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 I am entitle to housing benefit? |
| I am just about to get separated from my husband, and will have to rent.Will I be entitle to some housing benefit as my earnings 16,000 p/a and I have 17 year son who is in full time education,... |
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 30 Year Fixed @ 6.5% Good Deal? |
| 30% Fixed @ 6.5% for 95% single loan of 251,145 w/ PMI. average score is 750. Locked two weeks ago. Is this a good deal or bad deal.... |
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 Will the landlord pick us to rent his house? |
| well he acted like he liked us and all, and i gave him my landlords phone number and me and my current landlord get along well so i asked my landlord if the new landlord called him yet and he said no.... |
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 Does this sound like a false ad?? I emailed this lady about a house off craigs list..? |
Dear,
Thanks for your email and interest in my house. I am Mrs. Helen Grant the owner of the House you are interested in. My House is located at Cincinnati OH. Presently am in M... |
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 I have just made an offer on a home and they accepted. So I go sign the contract tomorrow.? |
| When they ran my credit for the pre-approval my credit was okay. So I go sign all the papers for the house tomorrow. My question is before I close on the house will they check my credit again? B... |
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 Where can i find really good apartment/house for rent classifieds in MAINE? |
| I live in Bath,Maine and want to stay close to Bath so i need help,we need a bigger place and i was wondering where i could find a good site to find listings for apartments and houses for rent other ... |
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 My home is blackballed by the previous real estate agent who owned my home,no one will show it-how can I sell? |
| I bought this home from a previous real estate agent who had committed fraud when she sold me the home. She was concerned that I would tell the people in the community that she was a deceitful ... |
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 Renting a property with inadequate ventilation, is the landlord responsible? |
| The Landlord refuses to fix a skylight that is leaking and which cannot be opened above the kitchen. There is no window or ventilation in the Bathroom and she will not provide anything there either. ... |
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andrew | Is it wise to invest in rental property 5 hours away from my residence.? |
I can better afford to invest in real estate away from my hometown. I live in New Orleans and for various reasons want to invest outside of my area. Is it realistic to think about purchasing a rental home 5 hours away? |
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dolphin2253
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It just depends on the property. If it will require a lot of maintenance and upkeep this will more than likely not be a good investment. If problems arise often you will be the one to have to make the 5 hour drive to the property. Even though you have tenants it is your responsibility when somethings breaks to fix it or have it fixed. |
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ed
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If you are prepared to receive calls at any time for houshold problems. And hiring unknown repair men or doing it yourself. 10 hours round trip. |
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kelly e
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If you think the market in that area will increase over time yes.
Do think about if there is a problem can someone locally help before you getting there to check on things being 5 hours away?
The best answer is if you feel the area will really appreciate in time.. go for it. |
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matsonb
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Unless you have a best friend or family member who lives there who you are also willing to compensate for their time... don't do it! http://www.choicefinance.net/
Inevitably, you will have to make trips to the property. Do you want to spend your weekends and vacations at this property instead? If you have a family, they will resent you and the property. Again, only do it if you have a trusted person you will fairly compensate for their time that lives within 20 minutes of the property. |
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Brenda W
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Sure IF you hire a property management firm in that local area. Shop it to know what each firm charges and what services they provide. Just check them out first and know that you'll need to factor their fee into your numbers before purchasing the property making sure the bottomline works for you.
Many property management firms are also brokers, which you'll also need in finding a good tenant. For you own information, check both those that are strictly PM firms and those that are both broker/property management firms and draw your own conclusions. |
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uteva713
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You can invest in property any where, just remember if you are investing for rental purposes whta kind of responsibility you will have with it. You will either have to hire someone to take care of it or have it written in the rental contract that the renter is responsible for all repairs and upkeep. BEst of luck in your investing. |
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rlloydevans
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I have done this, even had rental properties out of state. It can be great investments for you to have properties. Just make sure that you have a property manager. If there is a problem with the property, and the tenant calls, you don't want to have to do a ten hour round trip to take care of it 2-3 times a month.
Just realize the property manager will cost 5-10% of rent so when buying a rental, put those costs into the buying decision to make sure the situation works fo you. Also, start looking for a property manager before you buy a house. Interview several and check references. They can be a world of great information about what neighborhoods and type of houses are the best rentals for their market.
Good luck! |
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Karan M
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It is the rental business and the way want to do it will decide.
If you want to employ a person to handle it (and ofcourse -if it is really warrents)you can invest in the rental home.
other wise if you want it on a lease basis you need not be there.once in awhile visit in the weekend to check the condition of the home.
it is very important that weather it is going to be profitable for you if you invest in these kind of investment |
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bigchezmktg
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I see a lot of people talking about the headache of going to check on the property, but I'd be more concerned about the acquisition. Buying in the same areas (especially for investment purposes) means that you get to know the comparable sales, the ARV (After Repair Value), and what constitutes a good 'deal'.
Buying so far from home only means that you have no way of knowing what the appreciation rate for the area is, if it's regentrifying or not, and whether or not rent rates will support the payment you make to the mortgage company each month. That is to say, if your mortgage payment is $1000 and rental payments in the area are $800 a month, you're probably going to lose $200 per month (a negative cash flow situation) AND it might even stand vacant longer while you look for someone willing to pay the top-end of the rental market.
Your best bet is to wholesale properties in your area of New Orleans (aka selling them to another investor or an owner/occupant) which would require less financial risk and you often hold the property for less than 2 months, if that.
Find your local real estate investors club (also called a REIA) by looking online. They'll have properties to buy and sell, as well as a whole HOST of great information for a new investor. |
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Terry S
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No its' too far away to keep an eye on.
Terry S. |
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Jeff the drummer
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I wouldn't want to be that far away unless I was using a GOOD prop mgmnt co. and was willing to pay for it. |
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bostonianinmo
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ONLY if you are going to use a property manager! I'd use a property manager even if I was just renting out the upstairs half of a duplex, personally.
The first time you have a furnace or water heater quit on Christmas Eve, you'll be damn glad that you had a property manager to deal with it! |
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