Home Buying & Real Estate Thread

[dathbgboy]

Got my second NACA appt this month, if all goes well, I'll be ready to start house hunting by March, if not then August of next year. Still been working on getting my score right if this falls through. A few potential homes in my area, just gon have to suck it up and compromise a lot of space and functionality, and higher property taxes for what I'm getting :\

 

[HankHill]

Yeah house hacking is great. Looking to get a 3-4 unit in DC and live in one unit and rent out the others.

Finding entire buildings on sale is far and in between in DC though from what I saw. The listings are all under duplex, triplex, multi etc, but they're usually just for a single unit, not the entire building. There's probably a handful of actual multi family homes being listed (whether a basement rental or multi unit). Typically $800k+, but sometimes you'll luck out with $500k or less in a meh neighborhood.

 

[capital sb]

Finding entire buildings on sale is far and in between in DC though from what I saw. The listings are all under duplex, triplex, multi etc, but they're usually just for a single unit, not the entire building. There's probably a handful of actual multi family homes being listed (whether a basement rental or multi unit). Typically $800k+, but sometimes you'll luck out with $500k or less in a meh neighborhood.

I have a plug he owns over 400 units in DC well respected. He gets off market deals daily . I also want to buy in SE .

 

[willie mcfly22]

I like that! Can you estimate how much you spent to renovate? I'm assuming your margins were still very high. That is amazing man, show me the way... lol

Remodel costs was $149k. The property had foundation issues that we had to fix and due to the neighborhood, we used high end materials, appliances, etc... Minus 2.5% commissions, the profit was $93,275.

Real life flip or flop. You killing it bro. Keep it goin!

 

[ekrev98]

Real life flip or flop. You killing it bro. Keep it goin!

Thanks man! Funny you mentioned that show cuz i was approached by DIY network to apply for their "First Time Flippers" show but after filling out the application and talking to their rep, they realized that this wasn't my first rodeo and they said i was "too advanced" lmao.

 

[smokey13]

Thanks man! Funny you mentioned that show cuz i was approached by DIY network to apply for their "First Time Flippers" show but after filling out the application and talking to their rep, they realized that this wasn't my first rodeo and they said i was "too advanced" lmao.

Do they pay you for being on the show?

 

[ekrev98]

Do they pay you for being on the show?

Yah...like $5k for a couple days of shooting.

 

[dc777]

 
Thanks man! Funny you mentioned that show cuz i was approached by DIY network to apply for their "First Time Flippers" show but after filling out the application and talking to their rep, they realized that this wasn't my first rodeo and they said i was "too advanced" lmao.

Your work is really inspiring. I'm a fan, you got a IG to show day to day operations?

 

[ekrev98]

 
Your work is really inspiring. I'm a fan, you got a IG to show day to day operations?

Thank you for the kind words and i really appreciate that. My business partner and I have worked extremely hard this past year and we've got some exciting stuff planned for 2017. I'll post more details once we have everything in order. 

Our IG is @sdcityhomes

https://www.instagram.com/sdcityhomes/

We also have a Facebook

https://www.facebook.com/San-Diego-City-Homes-948067398610814/

and Houzz account.

http://www.houzz.com/projects/users/sandiegocityhomes

 

[smokey13]

Can anyone point me in the right direction if I want to start investing in real estate? I'm looking to make money buying and selling.

https://www.biggerpockets.com/renew...tep-step-guide-buying-real-estate-investment/

 

[willie mcfly22]

Real life flip or flop. You killing it bro. Keep it goin!

Thanks man! Funny you mentioned that show cuz i was approached by DIY network to apply for their "First Time Flippers" show but after filling out the application and talking to their rep, they realized that this wasn't my first rodeo and they said i was "too advanced" lmao.

Oh man, first time flippers is hilarious! Yea for the work and the pace you going, you deff don't fit that mold...a good thing tho

 

[capital sb]

Hey for the people in here with rental units what type of system do you use for tenants to pay their rent?

I'm getting tired of running back and forth to the bank and I want to scale up soon, so what I'm doing now isn't gonna work.

Do you pick up rent from your tenants, Online rent processing system (erentpayment.com, rentpayment.com, Cozi.com, Rentigo.com, etc) , P2P (PayPal,venmo,cash app,etc), or have them deposit ACH into your account?

I'm interested in RentPayment.com , because people can pay through ACH, Moneygram, CC, or Debit , but the fees seem steep and either the landlord or tenant has to cover the fees.

ACH $5
CC 2.75%
Debit .95%
Moneygram ? not on website

 

[pdino]

^venmo has treated me right. No issues or complaints here, straight from their bank to yours. 

 

[smokey13]

Prob not the answer you're looking for but my tenant sends me post dated checks for 6 months at a time.

 

[lilchico4life]

Dwolla

 

[dc777]

 
Thank you for the kind words and i really appreciate that. My business partner and I have worked extremely hard this past year and we've got some exciting stuff planned for 2017. I'll post more details once we have everything in order. 

Our IG is @sdcityhomes

https://www.instagram.com/sdcityhomes/

We also have a Facebook

https://www.facebook.com/San-Diego-City-Homes-948067398610814/

and Houzz account.

http://www.houzz.com/projects/users/sandiegocityhomes

Following all! 

 

[dam itz lou]

I scooped an iRobot over the weekend. I can't believe I went this long without one!

 

[b7audia4]

I scooped an iRobot over the weekend. I can't believe I went this long without one!

Care to give a mini review?

I got a neato robot vac when I first got the house because my dog sheds like crazy. The only problem is when the vac is operating the dog freaks out because the pet brush attachment is so loud

 

[dam itz lou]

Care to give a mini review?

I got a neato robot vac when I first got the house because my dog sheds like crazy. The only problem is when the vac is operating the dog freaks out because the pet brush attachment is so loud

I bought it for the exact same reason. I bought the 650 since there was a good deal on it. It's a little noisy. I've read people complain about the tray being small. I empty it out after every use. I dont find it a big deal. It does a great job of picking up the dog hair. It leaves the crib like the day we moved in.

https://slickdeals.net/f/9350739-irobot-roomba-650-robotic-vacuum-224-50?v=1

 

[theknowledgeableprofessor]

Hey guys.

Looking to buy my first house soon. Will be a "retirement " house for me. Gonna probably rent it out for a bit

Question is idk what the current market is like. How do I know if I'm paying the right price. Should I hire a real estate agent ? The area has seen decline and has 10% unemployment. Lots of land available for future growth too.

Also. How to prepare to get a good loan rate ? I did file bankruptcy years back. Credit score might not be ideal right now. How can I improve it ?

 

[pdino]

Hey guys.

Looking to buy my first house soon. Will be a "retirement " house for me. Gonna probably rent it out for a bit

Question is idk what the current market is like. How do I know if I'm paying the right price. Should I hire a real estate agent ? The area has seen decline and has 10% unemployment. Lots of land available for future growth too.

Also. How to prepare to get a good loan rate ? I did file bankruptcy years back. Credit score might not be ideal right now. How can I improve it ?

You should start checking out houses and getting a feel for the area and the price points. Go to open houses and schedule viewings of ones you're interested in. You'll need a real estate agent, get one who's familiar with the area you're targeting and tell them what you're looking for.

You can get a better loan rate with better credit scores. Check out the credit thread for how you can improve it: http://niketalk.com/t/521602/24-loo...-are-some-good-tips-on-your-first-credit-card

 

[ekrev98]

Hey guys.

Looking to buy my first house soon. Will be a "retirement " house for me. Gonna probably rent it out for a bit

Question is idk what the current market is like. How do I know if I'm paying the right price. Should I hire a real estate agent ? The area has seen decline and has 10% unemployment. Lots of land available for future growth too.

Also. How to prepare to get a good loan rate ? I did file bankruptcy years back. Credit score might not be ideal right now. How can I improve it ?

How long ago was your Bankruptcy and do you have any idea what your credit is like?

DM if you'd like to go over your credit info. I've helped past clients turn their credit around and qualify for a loan in order to purchase a home.

Also, if you need an RE Agent, my cousin can help you and can answer any questions since she specializes in the Bay Area and will know more about the current trends, areas, prices, etc...

 

[pdino]

Any NTers from Ohio that can speak on University Heights? What do you think of the area?

 

[301216baller]

University heights,shaker, Beachwood are really good areas..shaker and Beachwood are good schools if u don't mind the commute look into streetsboro,Hudson,Macedonia,Bedford or Solon you might come up on a mini mansion for the low

 

[theknowledgeableprofessor]

You should start checking out houses and getting a feel for the area and the price points. Go to open houses and schedule viewings of ones you're interested in. You'll need a real estate agent, get one who's familiar with the area you're targeting and tell them what you're looking for.

You can get a better loan rate with better credit scores. Check out the credit thread for how you can improve it: http://niketalk.com/t/521602/24-loo...-are-some-good-tips-on-your-first-credit-card

I am doing that right now. Driving around, getting a feel for the town.

Thanks for the info.

How long ago was your Bankruptcy and do you have any idea what your credit is like?

DM if you'd like to go over your credit info. I've helped past clients turn their credit around and qualify for a loan in order to purchase a home.

Also, if you need an RE Agent, my cousin can help you and can answer any questions since she specializes in the Bay Area and will know more about the current trends, areas, prices, etc...

Man, so my BK was like 5 years ago? I've been good with my credit so far but need to pull my credit score asap. I was at 700 and it just dropped to 680 but have no idea why. Obviously want to improve that before I apply for a loan, but have been cautious with the credit since the BK. I'll try to raise my limits and what not.

Thanks man, will DM.