 Renting from a private owner and the bank is foreclosing on the property. What rights do I have? |
| Hi guys, I'm in a sticky situation and I wonder if anyone can help. I'm currently renting a condo through a property management company. Even though I have been paying my rent on time, the ... |
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 If you can no longer pay your mortgage, but have 100,000 equity, what's the best solution? |
| It's hard to pay our mortgage now with the rising property taxes and insurance. We do have 100,000 equity. Besides moving, what can we do to make things better or ... |
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 Roommate wrote bad checks then disappeared, now he's in hospital. Should I give him some slack? Help!? |
| All was fine since he moved in, until he failed to pay August rent, then wrote me a cheque for September from an account he KNEW was closed. He also wanted some cash back so he wrote me a check and I... |
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 Can a landloard evict tenant because of the disputed late fee? |
| My landlord just gave me the 3 day notice to pay or quit because of the late fee i didnt pay. The late fee is questionable and I am not paying because the landlord claim that they received the rent ... |
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 Can we be evicted due to a medical condition creating late monthly rent to the landlord? |
| my boyfriend was diagnosed with cancer and is under medical care. the landlord entered a verbal agreement that we could pay our rent in 2 monthly payments. this is due to his lack of work during ... |
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 My house is in forclosure, how do I find an investor to buy it? |
| I need someone to buy then rent it to me for 12-24 mo. Then sell it back to me (at a profit of course).... |
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 I need to refinance my house in 4 years. What happens if is worth less than what I paid for it? |
| We paid $669,000 for our house at the top of the market(preconstruction). Now the same model is selling for $420,000 and still no buyers! I don't think the market will come back in time when I ... |
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 Bad tenants? |
| i have rented my flat , i never use to get my rent on time so i have given them notice of 4 weeks. On that my tenants did not agree on this and wanted atleast 3 months, after negotiating he agreed on ... |
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 Im ready to purchase a home now? |
| Im ready to purchase a home now - my realtor says buy now - my boss says wait for 4-6 months the buyers market, what should I ... |
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 Home Loans Advice? |
| If I am approved for a $350,000 home loan and buy a home for $300,000, will I be able to use the remaining $50,000 for fixing up, furnature, etc, or will I only be able to take the $300,000 for the ... |
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 Housing benefit??? who and how can claim for it??? i just become a single mother and the father of my child... |
is selling the house from underneath us, so i am now looking into getting a house! and hoping housing benefit can help me out, but not sure if i am eligible for it as i work 20 hours aweek.
if ... |
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 How can I break my rental agreement/lease? |
| I need to know how to break my lease without paying anything.The apartments I am in are horrible, filthy, bug infested, cars are being vandalised all the time (mine included). I want to move ASAP.I ... |
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 How much can I negotiate on a house to get them down? |
| The house is asking 135K and the owners bought it for 103K in 2003.... |
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 No heat help me please? |
| i have a question regarding enbridge gas company.i just got back with my girlfriend recently and while we were seperated she fell behind on payments.when i arrived she was disconnected and she and ... |
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 What to do with a tenants that refuse to pay rent.? |
| They claim that there was mouse in the house so send the rodent company to fix the problem but they were not cooperative at all. They kept on complaining of the situation and contracted three other ... |
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jacksmum | Is it worth buying a house specifically to rent/? |
does anyone have any experience of this? and if so, is it still financially viable or are too many people doing it? i see a lot of houses for rent but know a lot of young people who have no choice but to rent because they can't get on housing ladder |
 |
 
srracvuee
 |
oh yes certainly providing its good condition and in a good environment and you are certain everything is in good order as your tenant to agent will forever be on the phone and you'll find more money going out than in so be careful and make sure your letting agent is on the ball and has you fully protected//they will sort the tenant out for character etc you leave that all in their hands Good luck to you go ahead it will be OK |
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forge close folks
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A lot of people are in the same position that's why you now have the option of buy to let mortgages. If you buy the right house, in the right area, you'll find it may turn into the best investment you will ever make. |
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garfet
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It's people buying second houses as rental investments that ensure we can't get on the property ladder to start with... |
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Barrythai
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Yes, provided you make sure you get respectable tenants. You should get a management from an estate agent to rent the property for you. They will take care of your investment. |
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gyro-nut64
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It might be if you can find a long term renter. As a rule most renters do not take care of the house they are renting. By the time you pay for the upkeep of the property you will not make much. I watched a housing guru some years ago and he was telling people in the audience that he make $50 a month profit on the house he was renting. Someone said," $50 a month is not much." He said " I know, but I own 500 of them." If you want to form a company for the purpose of owning rental property, there are a lot of tax breaks. If you just want to buy one house to make a profit, you will probably loose it in the end.
This is my opinion. |
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notyou311
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Yes, many people buy houses to get additional income. Screen your tenants carefully and make sure you have a good lease that holds them accountable for any damage. Take pictures before they move in and after. Charge a sizeable deposit. You will be surprised at how much damage some people can do. |
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♥♫♥ Crystal ♥♫♥
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only if you buy an investment property that you can fix up and make more off of in rent than you pay for your monthly mortgage including insurance and property taxes. |
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Steve M
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If you already have a mortgage on a house in which you live, you will probably be asked for a deposit of at least 20% on the rental property in order to get a mortgage. On a £150,000 property this is £30,000 cash plus all your costs, so probably £32,000 or so. |
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Lipiew
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I think buying a house is the best idea. I just baught a house last year after renting for 2 years. I got a 80000 dollar house and my mortage is the same amount as my rent. Plus i get 500 dollars back a year for a star program, i get to keep the money when i decide to sell and since i pay interest i get a hell of a tax return. I got 5,000 back last year. So it was very much so worth it. |
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ticketoride04
 |
many people do do this, but it is hard work too. some of the deals you make are easy, but until you really get into the business, you get a lot of hard ones.
if you have funds extra, and live in a nice home, you can buy another at appraisal value or less and get into it w/5% dn if your credit is good.
the money you pay in taxes each year can be offset to your rental and therefore be putting the funds into your rental rather than into the federal taxes.
the purchasing of a rental stabilizes the payment(providing you get a fixed mortgage) and when property values go up your pmt stays the same. you also reap the benefit of the appreciated value where as a tenant of the landlord, you don't a nd the rental payments go up, but the owners(you) pay't stays the same and the tenant pays for the owners home.
In the long run, you have an investment you needn't feed any longer and in 10-20 yrs you have retire money to actually retire on.
look,look,look, location, location, location, & work work work for the future, future future...if you think you're going to make it in 2 yrs and retire, forget it.
do it right and become independantly wealthy. |
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