All Forum Posts by: Brandon Snyder

Hey everyone.  I'm continuing with my real estate education, and I have a basic question someone could probably answer.

Sometimes when buying a property, there's an encumbrance on it, a lien.  Why would anyone want to assume a loan that someone else took out against that property?  Could the buyer negotiate a lower price for the property because of that encumberance?

You're right!  Thanks for the help AJay!  :)

Hey all, I'm working on my take-home midterm, and I was wondering if I could get your opinion on something.  This question has got me stumped and I can't find the answer in my textbook...

A homeowner preparing his home for sale should do all of the following except:

a) fix any broken fences and railings

b) replace worn carpeting

c) prune trees and mow lawns

d) repaint interior walls in a bright primary color

My group thinks it's D, but what do you professionals think? 

Thanks!

Brandon

Math and I do not get along. In fact I think I have Dyscalculia (it's a learning disability where a person has difficulty comprehending and manipulating numbers).

I know I can't escape numbers if I want to go into real estate, but there has to be a few careers in RE that are more math light than others.  Can anyone point me in the right direction?

Right, right. Thank you very much for your help and patience. I really appreciate it, and I am learning thanks to all of you. :)

Thank you so much for helping me out so far, everyone. I got another math problem for you:

"A buyer purchased a SFR three years ago for $195,000. The property has appreciated at the rate of 5% annually. If this is true, what is the current fair market value of the SFR?"

A: $225,737

B: $230,737

C: $220,737

D: $224,737

The answer choices are:

A: $675,000

B: $680,000

C: $669,000

D: $679,000

I hope you can help me with this one. If you can figure out the answer, please tell me how you got there. :/

Mr. Jones leased all 12 units in his residential income property for a total monthly rental of $4500. If this figure represents an 8% annual return on Mr. Jones's investment, what was the original cost of the property?

Hey all. I'm studying for the real estate principles final exam at UCLA, and I'm having a hell of a time with the math section. Maybe someone can help me figure this one out.

"An owner sold a property for $35,200 which represents a 10% profit over what was paid. What was the owner's cost?"

I know the answer is $32,300, but I can't figure out why.  What am I not seeing?

Wow! Those were some great answers everyone! I wish you all wrote my textbook!

I now have a much clearer understanding of Title Insurance and I certainly won't make a deal without it!