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Results (10,000+)
Chao Yi Shih Closing soon on investment and having regret
8 April 2024 | 21 replies
Front unit i think market price is around 1600-1700, but i am planning for 1500-1550 to gain advantage on rentingit's a popular rental area in trending neighborhood, so it has a lot rental on the market and a lot investorfirst regret is i think my offer was too high, i offered asking price at 224k which with my 10k deposit and no inspection (i did had a long term contractor go take a look with me) i can likely get the house for cheaper, it went from 300k to now 224k from last year, so 8 month on market, i could get it for maybe 200k or 210k insteadOriginally i planned to have some minor interior update include few windows, which i am estimating around 3k, but noticing the 3rd floor shingle siding was aging and looks like just matter of time, so i had to replace 2 more exterior siding that need scaffolding, long story short, my repair cost went from 3k to around 8-9kmy dscr loan is 7.625% 30 years, my monthly would be $1577 PITI + water (say $230), compare to my expected rent of $2430, so $623 remaining each monthsome concerns are1. it's flat roof and it's just matter of time for me to replace2. i know this market is always trending, a lot tenants and a lot rentals, so it's competitive but popular, i dont know what to feel about it, i have other rental in the city, just not this specific neighborhood3. since there's so many investor in the area, why no one bought it for the price, it was once lowered to 256k before it go down to 224k. when the market was hot, i think 324k would easily sold, but obviously it didnt as that's what they listed in 2023 summer4. unit was managed by management company, last lease on front unit was from June 2022-June2023 rented for $1700, then they later put for sale for 324kon one hand i think the number works, but on the other hand, i keep have this feeling i wanted to back out of the offer, i think also due to my saving would be down to 20k after closing and all the repairs made, which i normally wanted to have at least 30k in bank, also the extra siding job got me scared a bit, and roof that need to be replaced in futureif i back out now, i am going to be losing 10k + inspection 800, so that's close to 11k lostWhat's your take on this, i would hate to lose 11k without any valid reason and just scared myself out of this deal, but honestly i am having some hard time looking forward to this purchase.
Brendan Davis Newbie: Top 3 Actionable Items to Get Started?
9 April 2024 | 9 replies
Try to meet a local real estate agent, investor-friendly, who is close to your age.
Patience Echem Best way to spend $300K
7 April 2024 | 3 replies
I am a middle aged woman looking to get into real estate.
Carlyle Campbell Sight unseen offer
8 April 2024 | 29 replies
Making a cash offer for a property sight unseen can be risky, Gather as much information as possible about the property, including its condition, age, size, layout, and any known issues.
Mark Walker Financing for a self storage & mobile home park property
5 April 2024 | 5 replies
TOH, location, age/quality of the assets, etc...
Tyler Baker Looking To Start My Journey
5 April 2024 | 4 replies
Starting your real estate journey at such a young age could be life changing.
Anthony Greco Pop Top Rennovation
5 April 2024 | 2 replies
Looking for advice on vetting properties that are good or bad candidates for doing a pop top on.Is there an age limit to a home that you want to stay under when doing these?
John Weiss Indemnification Clause in PM Agreement
5 April 2024 | 43 replies
Owner shall pay, except as provided elsewhere in thisAgreement, all expenses incurred by the Agent, including, but not limited to, reasonable attorney’s fees and Agent’s costs andtime in connection with any claim, proceeding, or suit involving an alleged violation by the Agent or Owner, or both, of any lawpertaining to fair employment, fair credit reporting, environmental protection, rent control, taxes, or fair housing, including, butnot limited to, any law prohibiting, or making illegal, discrimination on the basis of race, sex, creed, color, religion, national origin,age, marital status, or mental or physical handicap, provided, however, that the Owner shall not be responsible to the Agent forany expenses in the event that Agent is finally adjudicated to have personally, and not in a representative capacity, violated anysuch law, unless such acts and or omissions are outside the course and scope of Agent’s duties hereunder.
Jeff Anderson Are SDIRA proceeds tax-free when I am already in retirement?
5 April 2024 | 5 replies
However, withdrawing earnings (such as interest payments and gains) may be subject to taxes and penalties if withdrawn before reaching age 59½ and meeting certain other criteria, unless an exception applies.
Ian Verzoni Insure the Roof (wind/hail) in OK? Or just pay out of pocket?
5 April 2024 | 7 replies
I hold enough to cover a roof out of pocket if needed.I appreciate what thoughts/insight/experience folks have had, thanks.The age of the roof may make the difference.