Home Buying & Real Estate Thread

[CrownRoyalDaddy]

Yea im super disappointed obviously to add another .5 but im still getting a good rate and like you guys said its only getting worse. My mortgage lady said 5 by the end of the year as well. If i would have been using delaware’s SMAL loan program id have a rate at 5.5 today.

 

[chino905]

anyone have good ideas on the best way to get a good tenant? should i post something on craigslist or streeteasy? or let an agent help?

 

[lilchico4life]

anyone have good ideas on the best way to get a good tenant? should i post something on craigslist or streeteasy? or let an agent help?

Start with craigslist. Screen them very well. Background check, credit check, any prior evictions, and collect first, last, and deposit. Call their previous landlord as well.

Also don't put any for rent signs on the property. That lets people know it's vacant.

 

[B Sox]

anyone have good ideas on the best way to get a good tenant? should i post something on craigslist or streeteasy? or let an agent help?

Depending on your market, you can probably start with Craigslist. If that doesn't seem to yield results, a good agent can get the job done. Use www.mysmartmove.com for screening.

 

[chino905]

thanks guys. i'll start at Craigslist but i'll try to be really selective. I'm in NYC, so i hope i find some good tenants.

 

[B Sox]

Ask for their last 2 paystubs as well.

 

[chino905]

yeah. i will also request they meet the 40X rule.

 

[eugenile gts]

https://www.mercurynews.com/2018/02...w-a-struggle-even-for-apple-google-engineers/

seattle dont compare yourself to the bay. may have some high price increase but still dont compare.

Median price of a home within a 20-minute commuting distance: $1.2 million

Average software engineer salary: $188,000

Monthly mortgage (based on a 30-year fixed loan with a 4 percent interest rate) and taxes: $5,211

Percent of monthly income: 33 percent

one day ill have my dream home:
https://www.zillow.com/homedetails/1442-Main-St-Santa-Clara-CA-95050/19579443_zpid/
627 sq ft wooooooohoooooo

 

[slicknick951]

That is crazy.

 

[Los Angeles]

Insane

 

[antidope]

I just started looking for a home in the northern NJ area and it's an awful experience. Especially compared to my brother who lives in Atlanta where I also lived for eight years. This is the main reason I said I would never be able to live in the tri
State area long term as an adult the cost of living and value of a dollar are both egregious.

 

[Tony $now]

Rates are really volatile. Just had some lenders at our team meeting yesterday and they said we'll probably be around 4.5 mid-year and then 5 by the end of the year. If any of you guys are on the fence about buying, you should be doing it now, or else you're going to end up paying more money for the same house.

Had to learn this hard way. Rate Jumped .5 almost over night before i decided to lock my rate. Closing on my first house next month.

 

[B Sox]

Had to learn this hard way. Rate Jumped .5 almost over night before i decided to lock my rate. Closing on my first house next month.

Good stuff man. Flourish

 

[Chiron]

how quickly do rates affect selling prices... if I wanted to sell in 2021-2024 would my home continue to appreciate in a hot market or will rates eat into the buyers pockets too much?

 

[CrownRoyalDaddy]

Found out Friday that the seller of the house i close on 3/13 is in bankruptcy court. They did not disclose this and i could end up not getting the house. Im heated because everything on my part is done and locked in.

The seller has a bankruptcy hearing on 2/27 so i guess ill know one way or another next week. My real estate agent says from what shes told my transaction should go smoothly but...Could really put me in a rough spot if we dont get it.

 

[B Sox]

 

[getback]

FML

 

[chino905]

another question for you fellas. Early March is my closing date. My next task is to start looking for a tenant in my 2nd unit. Should I pay a lawyer to do a rental agreement contract, or can i find templates online and draft it myself?

 

[Los Angeles]

you can easily find templates online

 

[slicknick951]

Yea just make sure its specific to your state as each one has different laws.

 

[chino905]

As for the final walk through, I was going to schedule it the same day as closing, where the walkthrough would take place in the morning, and then the closing would take place at around 2pm. Is it better to schedule walk through a few days before though?

 

[monstar]

Does anyone have any pointers or a checklist of what to look for or ask during initial home inspection?

 

[slicknick951]

Anyone know a place to get appliances for cheaper? Gonna be redoing the kitchen soon and looking for a fridge, stove, dishwasher, microwave combo

 

[stork]

Anyone know a place to get appliances for cheaper? Gonna be redoing the kitchen soon and looking for a fridge, stove, dishwasher, microwave combo

try Habitat For Humanity.

 

[thenewjs23]

another question for you fellas. Early March is my closing date. My next task is to start looking for a tenant in my 2nd unit. Should I pay a lawyer to do a rental agreement contract, or can i find templates online and draft it myself?

There are rental agreements on bigger pockets and they can customize it for you.