Home Buying & Real Estate Thread

[ekrev98]

What would it cost to add a door leading outside with a few steps ? I asked my broker and he said about $10K, which seems like a lot. He said you have to get an architect involved which is the most expensive part and then you have the actual materials and labor.

Depends on the exterior of the house (stucco or paneling, etc) and paint. Then there's the wall you want to add the door to. If there's wiring in the walls or if there are vents, if any additional structure needs to be added. But it should cost less than $10k. That's a bit much IMO. You can find a handyman or worker who can do it for a good deal.

 

[ekrev98]

Cabinets are installed in my newest project. Should be finished in a week or 2.

 

[lazyj10]

L lazyj10 at what age did you buy and what city are you in? Any advice for someone in their late 20s that's saving up in the Bay Area. Everything seems expensive. Also what areas are you looking at for your second purchase?

I had a condo (1/1) that I bought (stupidly) when I was 24 in 2007. I cut my losses and did a short sale and then my wife/I bought our current house in 2010. We're in the Concord/Clayton area.


Everything IS expensive. Stack your cash, live below your means (not at) and be prepared to pounce during a correction if you can stand to wait. If you can live at home to save on living expenses, do so and try to avoid buying extravagant things during that time. If you want to have a nice car, that's fine, but do know it'll hinder your ability to purchase down the road if you have a car note. Don't be in a rush - the Bay Area IS cyclical.

Rates will go up and the presidential election does matter. For a point of reference, before the fall out of the economy, my mortgage rate on the condo was 7%. We're artificially low now, but I'm taking advantage of it best we can.

For how much the better parts of the east bay cost (and forget about the city for us - school district is too tricky) for what we'd want would be $800k plus. With the difference between where we are in our home and what we're doing - we could afford to do private school should we want.

2nd purchase - we contemplate going out of state (Bend, OR - but they're super high right now), or staying in CA and doing something in like Truckee.

 

[ekrev98]

Felt like I was missing something in the kitchen so I decided to add subway tile. Looks 10000% better.

Before.

After.

 

[clutch412]

Nice touch man

 

[superantigen]

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BONUS PICS​

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THE NEXT TIME I POST PICS IT WILL BE COMPLETE.​

Love seeing the progress...

Are y'all using a 203K for all of this, or is it's straight out of pocket?




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[eugenile gts]

ekrev98...........man, got the matching GE Cafe series of appliances too

Just that fridge, range and dishwasher is easy $4K-5K if bought new retail price

 

[ekrev98]

ekrev98...........man, got the matching GE Cafe series of appliances too

Just that fridge, range and dishwasher is easy $4K-5K if bought new retail price

Hahaha man you got a good eye!

I had to splurge on the appliances especially at the price point we are selling at and the neighborhood this project was in.

 

[capital sb]

Definitely know what you're doing, kitchen is amazing I love all white kitchens with dark floors.

 

[ekrev98]

Definitely know what you're doing, kitchen is amazing I love all white kitchens with dark floors.

Thank you for the kind words! Looks like the subway tile did the trick because we had buyers check out the property after we did the tile and got a full ask offer this morning! *crosses fingers*

 

[206to813]

Nice! Crazy how a little upgrade can make a huge impact. I do like the subway backsplash and i like white cabinets too but id prefer some contrast. Thats just my personal preference though. Any backsplash makes a huge difference vs no backsplash IMO. Changes the whole feel

 

[ootherocoo]

 

 

WE'RE ALMOST THERE GUYS!​

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THE NEXT TIME I POST PICS IT WILL BE COMPLETE.​

Love seeing the progress...

Are y'all using a 203K for all of this, or is it's straight out of pocket?




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Thanks man.  Everything is coming straight out of pocket.  This renovation can't end soon enough...LOL

 

[ekrev98]

Nice! Crazy how a little upgrade can make a huge impact. I do like the subway backsplash and i like white cabinets too but id prefer some contrast. Thats just my personal preference though. Any backsplash makes a huge difference vs no backsplash IMO. Changes the whole feel

For sure. I did dark grey grout so there's a subtle contrast with the grey veins in the quartz countertops.

My next project I want to do the same backsplash but use dark grey quartz countertops. Only problem is trying to find the next project. Everything is overpriced to the point where there's no profit to be made.

 

[stork]

For sure. I did dark grey grout so there's a subtle contrast with the grey veins in the quartz countertops.

My next project I want to do the same backsplash but use dark grey quartz countertops. Only problem is trying to find the next project. Everything is overpriced to the point where there's no profit to be made.

are you using direct mail or any marketing to bring in leads?

I'm surprised you've found multiple MLS deals, with every fixer getting so many offers.

 

[ekrev98]

are you using direct mail or any marketing to bring in leads?

I'm surprised you've found multiple MLS deals, with every fixer getting so many offers.

I usually get my deals from word of mouth or referrals from other agents who I've met in the past or have seen my work. I've tried direct mail but you've got to hit the same homeowner at least 4-5 times before they even open a letter and I don't have the time to do that anymore. I did hire some interns to do cold calling for me

The last 2 properties have been from MLS. Deals from MLS is a crapshoot and is just a numbers game.

 

[dceja]

Is the process for purchasing a condo same as buying a home?

 

[lazyj10]

Generally yes if for a primary residence.

Differences are on the home owners association and you should take the time to get the financials/board details so you know what you're buying into. If the condo association recently incurred big expenditures, be prepared for a fee increase. Find out how long the dues have been what they are, etc.

 

[dathbgboy]

For anybody going through NACA, be mindful that they do a hard pull on your credit I found this out the hard way.

I really wish Pittsburgh would start building modest homes for the middle class. Every time you read about developers building new places to live, it's luxury this and that, meanwhile, there aren't enough people in this city to afford what they're selling.

 

[capital sb]

Why wouldn't they do a hard pull? Every lender does.

 

[gsxrpaul]

Generally yes if for a primary residence.

Differences are on the home owners association and you should take the time to get the financials/board details so you know what you're buying into. If the condo association recently incurred big expenditures, be prepared for a fee increase. Find out how long the dues have been what they are, etc.

Keep in mind that if there is an HOA, that fee will also be included in your debt-to-income ratio.
When I owned my townhouse the HOA fees increased every single year I owned it. Started at $192/month and by the time sold they were $295/month.

 

[dam itz lou]

I really like my realtor but he dropped the ball on this one. He was 100% sure the house wasn't in a flood zone. The bank told us the loan was approved today and gave us a list of things we needed to provide. One of them is we need to get flood insurance. We got a quote and its almost $2800 a year.

 

[polosanddunks]

I really like my realtor but he dropped the ball on this one. He was 100% sure the house wasn't in a flood zone. The bank told us the loan was approved today and gave us a list of things we needed to provide. One of them is we need to get flood insurance. We got a quote and its almost $2800 a year.

Damn where is that house in NY and you really should of double checked it also for yourself but your realtor dropped the ball on that.

Out here in Houston thats the first thing I been looking up is "flood zones" before anything.

 

[dam itz lou]

Damn where is that house in NY and you really should of double checked it also for yourself but your realtor dropped the ball on that.

Out here in Houston thats the first thing I been looking up is "flood zones" before anything.

It's in Lindenwood, NY in Queens. We told him about the quote we received. He thinks its ridiculous. I did some research online and I read things like the rates are set by FEMA. There's no such thing as shopping around. If true, I dont know how he didn't know about this. That quote is the cheapest option with a $10K deductible.

We're seriously thinking of backing out. I'm going to talk to our lawyer tomorrow. We were already throwing away a lot of money on PMI and this is just getting to be too much.

 

[ekrev98]

It's in Lindenwood, NY in Queens. We told him about the quote we received. He thinks its ridiculous. I did some research online and I read things like the rates are set by FEMA. There's no such thing as shopping around. If true, I dont know how he didn't know about this. That quote is the cheapest option with a $10K deductible.

We're seriously thinking of backing out. I'm going to talk to our lawyer tomorrow. We were already throwing away a lot of money on PMI and this is just getting to be too much.

Dude probably knew he was close to that finish line and would've said anything to get that gold medal. That's really unfortunate but I've seen some agents do the bait and switch when they are close to closing escrow. All I could do is SMH.

I don't know the guidelines in NYC but is there a penalty if you back out?

 

[dam itz lou]

Dude probably knew he was close to that finish line and would've said anything to get that gold medal. That's really unfortunate but I've seen some agents do the bait and switch when they are close to closing escrow. All I could do is SMH.

I don't know the guidelines in NYC but is there a penalty if you back out?

I dont know man.

He told us we wouldn't need flood insurance before we even made an offer. Later on, I was worried about the type of money we were spending. Now this, it's getting ridiculous. This guy has worked in the area for a long time and lives in the neighborhood. Homes 3-4 blocks away aren't required to have flood insurance. I just don't see how he didn't know this. I'm reading about a law that sellers have to disclose that the property is in a flood zone. I'm hoping thats the case in NYC, it gives us a way out if we decide to go that route.