Home Buying & Real Estate Thread

solewoman said:
NOOOOOO what happened?!?!
we’re doing our home inspection today...kinda nervous
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Dont be nervous, take it as further assurance in the investment your making. Rather find out whats wrong to see if you still like the home or not.
Make sure you have questions ready and check somethings out yourself as well


nawghtyhare said:
I released the contingencies
Dumb *** realtor giving me wrong information
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I'd be raising the most H*** possible realtor, is supposed to be your expert

Realtor gotta go if thats the case and make sure your let them know you'll be leaving reviews on redfin, zillow and yelp That aint cool at all. Telling me your sorry dont get me my money back

Sorry to hear that man.

FWIW, I had to back out of the first home I went into contract with people didnt want to fix anything and HOA wasn't gonna help at all.

Keep ya head up you guys will find the home that works for you and your situation

Easier said than done I know.
 
I've had to eat inspection reports and appraisal fees before for a property that didn't work out. But, should be about to get earnest money deposit back if your real estate agent had correct wording
 
nawghtyhare said:
I released the contingencies
Dumb *** realtor giving me wrong information
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Dam brotha sorry to hear it fell through. Definitely don't go in on a deal you don't feel 100% about after an inspection. I thought, but it may not be the case (i've only done the buying process once and it was a few months ago), that if the earnest money clock starts when the inspection is performed? Feels like you should get that back in full.

Sounds like you should put your trust into another realtor. Someone with confidence and is about the business, would be happy to take your business. It makes the biggest difference. Our realtor was great, even though he gift was trash lmaoo.....

Anyways, don't let this stop you. You guys will find your house.
 
Side note:

For the homeowners in here. My wife and I are new into home ownership. Approaching our first mortgage payment soon, since we are only a month in hah. Have any of you gone through a kitchen remodel? It's our first home, but buying it, and the price we got it at, we knew we were going to remodel the kitchen.

Its a small standard 10x10 kitchen. Was curious if anyone here has taken on the remodel task. If so did you hire out and DIY? I am pretty DIY and have done a ton of stuff already, and know I can handle it. But is it worth it?
 
jewelknows said:
Side note:

For the homeowners in here. My wife and I are new into home ownership. Approaching our first mortgage payment soon, since we are only a month in hah. Have any of you gone through a kitchen remodel? It's our first home, but buying it, and the price we got it at, we knew we were going to remodel the kitchen.

Its a small standard 10x10 kitchen. Was curious if anyone here has taken on the remodel task. If so did you hire out and DIY? I am pretty DIY and have done a ton of stuff already, and know I can handle it. But is it worth it?
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Kitchen dimensions are the same, you need to really think about what you want your lay out to be and if you are going to change floors, cabinets layout lighting and plumbing.

Try to id what you want it to look like or what work your actually gonna do prior to demoing. Also id if you need to move any plumbing or add lighting, also remember permits cost so put that in your budget.

Paint before you install cabinets and change floors

Lastly but most importantly dont kill your reserves attacking a kitchen it aint gon be cheap and it will take time. Make sure you guys have your finances straight them payments come up quick and things change that kitchen might not be so bad for now haha

Good luck man

Thinking of resurfacing cabinets but not sure if i want to just buy new ones . Also gotta change some lighting and also the plumbing want a dishwasher and new counterops and flooring

Will start looking into this further next year
 
Wana do a lot of things to my home but dont see myself being there more than 10 years. Prbly rent it out later on ??‍♂️.
 
Trying to buy a house on short sale.


The house apparently was owned by horders and it looks like it hasn't been clean for about 10 years. The kitchen and both bathrooms have to be redone. I would like to make the half bathroom upstairs a full bathroom but it will need roof alteration.

The shortsale price advertised is 140k ...the current sale price for similar house is around 185k to 210k.

The house is 1080 sqt feet.

I know the information is pretty limited but based on that what would be a good offer? I'm not doing any of the work, it will be contract out besides the cleaning and removing the kitchen and bathroom.

I was thinking 85k all cash quick close.
 
Short sales have to be approved by the bank. It can take a long time for them to respond.

85k is a low ball offer but it depends on their liability on the property.

See if you can find out what’s owed and base the offer off that.
 
edshoecator said:
Short sales have to be approved by the bank. It can take a long time for them to respond.

85k is a low ball offer but it depends on their liability on the property.

See if you can find out what’s owed and base the offer off that.
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From my understanding, the bank is owed 140k and are selling it for what's left on the loan.

I know the offer is low but I figure after 90k (5k I have to give to the listing agent) and another 50k in remodeling the house, I'm at 140k. Plus another 10 to 15k in seller fees I'm going to make just 50k top end? If not why am I doing all this for?

What would be your train of thought?
 
crazy caballo said:
From my understanding, the bank is owed 140k and are selling it for what's left on the loan.

I know the offer is low but I figure after 90k (5k I have to give to the listing agent) and another 50k in remodeling the house, I'm at 140k. Plus another 10 to 15k in seller fees I'm going to make just 50k top end? If not why am I doing all this for?

What would be your train of thought?
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85k all cash is a good start. See if they counter then go from there.
 
crazy caballo said:
From my understanding, the bank is owed 140k and are selling it for what's left on the loan.

I know the offer is low but I figure after 90k (5k I have to give to the listing agent) and another 50k in remodeling the house, I'm at 140k. Plus another 10 to 15k in seller fees I'm going to make just 50k top end? If not why am I doing all this for?

What would be your train of thought?
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How long has the property been on the market?
 
MakeNTGreatAgain said:
Manage a property like that, maybe I can answer a question?
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Just looking for input on the numbers, to determine whether it is worth it or not. I've heard of the 1% rule, the 2% rule, the 50% rule, etc. So just looking for any input on that end.

You have any thoughts, as a manager of a 4-flex? Things to consider, to watch out for, etc.
 
turbospartan said:
Just looking for input on the numbers, to determine whether it is worth it or not. I've heard of the 1% rule, the 2% rule, the 50% rule, etc. So just looking for any input on that end.

You have any thoughts, as a manager of a 4-flex? Things to consider, to watch out for, etc.
Click to expand...

yeah I can’t give u any advice on the numbers.
Having multiple units, separate water meters is nice
Also tenants that get along is important too, if they have aren’t working class and have a lot of free time they will waste your time with complaints such as that tenant took my spot or other random ba
 
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