All Forum Posts by: Bryan Tasumi

Can you buy properties currently being built listed on real estate sites? Why are they listed on there? Can you buy a property in-construction before it is actually built? Do you pay now or when it is actually finished? Are properties being built always for sale or is it the choice of the developer?

I am an amateur on this topic so any insight would be greatly appreciated. Thank you.

Thank you everyone for all of your replies. Any other replies will be appreciated so keep them coming!

Oh and does anyone know if the mortgage people will treat my out-of-state home purchase as a rental property or will they treat it as my primary residence? I want the lowest mortgage interest rate possible.

Do I have get a mortgage with a company in Texas if I plan on purchasing a home there or can I get one for the house from California (where I am at currently)?

Thank you Michael for your insight. If anyone else has anything to say about my original question please do.

 I am in the tutoring & test prep industry. I also tutor many clients online. My clients are regular and many with me for multiple years. Many of my clients are wealthy. I have over 150k saved up in cash as well, but only want to put 20% down on a ~300k home.

Does that mean I can't buy a house and pay it from the current state I currently reside in (living at my family's home)? I make over 7k/mo in my business (self-employed) and the total mortgage payment would be only 1.3k (very cheap compared to my salary in California). 

Can you buy a house in another state and stay in your family's house for the time being (until after you qualify for a mortgage)? 

I am asking this because I do not have a job lined up in Texas (where I am planning to buy my first home) and do not know if I can qualify for a mortgage unless I find a job there. I need to move very soon. I am planning to do this to qualify for a mortgage. I do not pay rent at my current relative's house and can stay here for as long as I like while I keep working at my current job. Will I qualify for a conventional house loan this way? Will there be any restrictions or negatives doing this or is this not possible? 

Thank you.

I am planning to buy a home out of state (in Houston, Texas). How should I do this? I would like to keep expenses to a minimum. Should I rent a hotel, rent a place (monthly) or other? How long should I stay and research properties? I would like to buy before the end of next year. If I am planning to buy as a primary home and rent rooms out, can I leave the house there and go back to California while I start gathering my belongings for moving? Do I have to be physically present in the house after I buy it or can I just leave it empty for as long as I want?

What is the best way to find the best real estate buyer's agent for finding house? Would look at the highest ratings on Yelp and Zillow be the best way? Do high-review and high-selling real estate agents give you better deals and results than real estate agents with less 5-star ratings and reviews?

I am looking at har.com (Texas Real Estate website) and there are many homes selling for almost 2x their listed "market value". People can list their home for however much they want correct? How do I know that listing prices are not artificially inflated? For example, if someone has a home worth 300k, can they list it for 500k just to see if anyone will buy? I do this all the time on ebay, Amazon and some people still buy things that are actually worth 2-3 times LESS.

For example, the home 2834 Southmore Blvd, Houston, TX 77004 has a stated Market Value of $188,330 but is listed for sale for $311,000. Is this price way too high? There are homes around it that have market values of $160k or even lower, so wouldn't $311,000 be a rip off? I am not sure how to analyze this...