Home Buying & Real Estate Thread

[crcballer55]

We found out today the sellers really hate us because of the loss of rental income. They lost the house they were trying to buy in Florida so they didn't want to sell anymore. They've been stalling this whole time and now we have to wait another three weeks to move in.

Isn't there any recourse in NJ for breach of contract? Just because you're mad doesn't mean you can just delay.

 

[dam itz lou]

Isn't there any recourse in NJ for breach of contract? Just because you're mad doesn't mean you can just delay.

They legally have until Oct 23rd to close then we can send them a time of the essence letter. Fortunately, We finally have agreed to close on the 11th. If they try postponing then we can sue them. We were worried because my lawyer emailed them this morning about us needing to close by the 11th because of the cost of the extension. We thought that was a stupid move. They could of used that against us and waited until the 23rd to close to see if we would back out.

 

[dam itz lou]

What are some good sites for design ideas ?

https://www.trulia.com/rental/3243832193-77-St-Queens-NY-11414#photo-5

The link above is the same as our house. We want to do light grey walls. We want to get some furniture that will look good with those floors.

 

[ekrev98]

What are some good sites for design ideas ?

https://www.trulia.com/rental/3243832193-77-St-Queens-NY-11414#photo-5

The link above is the same as our house. We want to do light grey walls. We want to get some furniture that will look good with those floors.

I like going on Houzz.com

 

[ekrev98]

Closed on 2 more properties

This one is a straightforward in and out deal. Should take a month or less to complete. Only issue I have is that there are tenants there and I'm just waiting for them to leave.

This one is going to be a monster. Property sits on a little bit less than an acre. This one is going to take 4 months and won't be ready until 2017

 

[datznasty]

Don't sleep on auction.com Saw some local houses go WAY below value on there. It's probably just like on that one HGTV show that escapes me right now, limited to no opportunity to inspect/view first and x% upfront, but this was in a neighborhood I know really well that is brand new.

In the process of refinancing with Quicken and they sent this doofus *** appraiser out, he appraised like 10k below what it's probably realistically worth and would fetch in a sale and broke my sink (I wasn't there, just used my app to open the door), then he tells me buy a new one and recommends his friend plumber to fix it, and this dumbass either broke or disconnected my garbage disposal and I haven't been able to get in touch with him since. But the appraisal coming in low is making me have to bring money to closing now and I'm not going to get that skip your 2nd mortgage payment benefit either it looks like

 

[ekrev98]

Buy and Hold condo we remodeled. All the finishes were high end...

 

[capital sb]

Yal are killing it.

 

[polosanddunks]

Damn that looks good

 

[smokey13]

What were you doing before driving Uber? There might be some banks out there who will approve you for a loan.

Sorry I disapppeared been super busy. Our app is with the underwriters right now. I think we might be able to do it with just my wife's income. If not, I will definitely hit you up. Loving the condo btw

 

[NewWave90]

I've put an offer in on the first rental. ekrev98 Have you ever dealt with sherrif sales by a chance?

 

[ekrev98]

I've put an offer in on the first rental. ekrev98 Have you ever dealt with sherrif sales by a chance?

No I haven't. Buying as-is condition doesn't scare me but not being able to see the interior and possibly exterior of the home does not give me peace of mind. I personally want to know what I'm getting myself into so I know what my rehab budget will be, etc...

And having to do and pay for a title search on your own before bidding (which can be wasted money if you don't win the auction), and if there are tenants living there, they become your problem once you win the auction.

But who knows, the market is constantly changing and my company's niche might focus on auctions one day especially if it's lucrative.

 

[NewWave90]

Thanks for the response. I'll be looking more into it.

 

[xbiker47]

that condo looks

 

[tupac003]

Well today we closed on our house in SD! Closed on time. Now we move!

 

[tvobach]

Alright NT fam...bought this house at the end of July, have basically been working on it ever since. My wife and I (with the help of the family) have done everything you see other than installing the wood floors.

For those going through the reno process...I have three tips.

1. Be patient. Can't stress it enough. Things aren't going to go as planned and it's gonna be frustrating...I promise it'll be worth it.

2. It's going to take longer than planned.

3. It's going to be more expensive than planned.

Now to the photos!

LIVING AREA BEFORE

LIVING AREA AFTER

KITCHEN BEFORE

KITCHEN AFTER

STAIRS/ENTRYWAY BEFORE

STAIRS/ENTRYWAY AFTER

More work on the way! Backyard and basement are next...and finishing up painting the trim...

 

[glennvagmire]

Saved up 50k this year at 26 yrs old and building this credit to hopefully start investing on homes in a few months. Wanna use it as rental property.

 

[bale]

Buy and Hold condo we remodeled. All the finishes were high end...
 

hey that shiny grey application on the ceiling & walls, is that wallpaper, intense paint or some kinda secret?  sorry for such a lazy question but I wanted to ask before the post is like a month or two old.  

 

[ekrev98]

hey that shiny grey application on the ceiling & walls, is that wallpaper, intense paint or some kinda secret?  sorry for such a lazy question but I wanted to ask before the post is like a month or two old.  

It's Venetian plaster

 

[pdino]

Saved up 50k this year at 26 yrs old and building this credit to hopefully start investing on homes in a few months. Wanna use it as rental property.

50k is plenty, you have a lot of options

 

[n0toriousbee]

Alright NT fam...bought this house at the end of July, have basically been working on it ever since. My wife and I (with the help of the family) have done everything you see other than installing the wood floors.

For those going through the reno process...I have three tips.
1. Be patient. Can't stress it enough. Things aren't going to go as planned and it's gonna be frustrating...I promise it'll be worth it.
2. It's going to take longer than planned.
3. It's going to be more expensive than planned.

Now to the photos!

LIVING AREA BEFORE



LIVING AREA AFTER






KITCHEN BEFORE



KITCHEN AFTER



STAIRS/ENTRYWAY BEFORE



STAIRS/ENTRYWAY AFTER



More work on the way! Backyard and basement are next...and finishing up painting the trim...

Wow! Looks great so far!

 

[glennvagmire]

50k is plenty, you have a lot of options

Please share some. Would be appreciated.

 

[pdino]

Please share some. Would be appreciated.

Bought my Duplex in LA county, California for 30k. 3.5% down FHA loan

Single family rental in Kansas city, Missouri for 22k. 20% down, Cash flows 400$/month

You could do both of these with 50k

 

[capital sb]

Yup and you can do cash out refi's. Just have to research areas your interested in.

Take a look at Bigger Pockets forums, blog, and podcast.

 

[glennvagmire]

Bought my Duplex in LA county, California for 30k. 3.5% down FHA loan

Single family rental in Kansas city, Missouri for 22k. 20% down, Cash flows 400$/month

You could do both of these with 50k

Yup and you can do cash out refi's. Just have to research areas your interested in.

Take a look at Bigger Pockets forums, blog, and podcast.

Repped both of you. Thanks. Also gonna check bigger pockets been meaning to listen to the podcasts for a while now.