Home Buying & Real Estate Thread

Look into BRRRR method and search bigger pockets.

I bought a place for 60K cash last summer, put 30k into it. Refi'd 60k back out after appraisal. Took 45 bought an apartment building that was for sale off market at 250. Technically my original 60K got me 6 units.

Remember my market is cheap so this wouldn't work everywhere.

I'm looking to make roughly 6 figures on my next sale. Planning to use that money to buy another 4 units and a new primary residence for my family (selling current primary residence and renting for next 9 months). Should have my house sold roughly a couple days before my wedding in June.
Glad to hear it is working for you. Would be similar to brrrr, but I want to pay cash initially.
 
Yeah but the investors have a much larger margin of error. They can also sit on empty properties much longer.

The redfins/ zillows etc are a gift and a curse. They are cutting out the little guys by picking up so many "starter homes". However, for those of us with real estate in hand already they are driving up our comps when we decide to sell. When you combine that with an already apparent housing shortage things could get very interesting in the years to come.

I don't think we will see another crash sometime soon but I do think we will see demand decrease or go sideways in the next year or two.
 
Yeah but the investors have a much larger margin of error. They can also sit on empty properties much longer.

The redfins/ zillows etc are a gift and a curse. They are cutting out the little guys by picking up so many "starter homes". However, for those of us with real estate in hand already they are driving up our comps when we decide to sell. When you combine that with an already apparent housing shortage things could get very interesting in the years to come.

I don't think we will see another crash sometime soon but I do think we will see demand decrease or go sideways in the next year or two.
Issue with those huge apps buying up homes was the artificial boost in prices of homes (and the reaction was still a buying frenzy at those prices, so I guess the prices weren’t artificial). Always interested to see and check the local area and see what they are trying to unload these homes at, some at a lost.
 
Issue with those huge apps buying up homes was the artificial boost in prices of homes (and the reaction was still a buying frenzy at those prices, so I guess the prices weren’t artificial). Always interested to see and check the local area and see what they are trying to unload these homes at, some at a lost.

There is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.

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There is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.

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This has been posted a couple times. Anybody got the source?
 
Ah man pacific highway s. Still remember driving down there with the homies way back in high school to look at all the hookers.

Housing market is wild if you can pull in 100k in that area. I'd rent somewhere in the suburbs like maple valley or even Issaquah and just chill until it all settles down.
It's really wild out here, bought a place in Covington last year and the estimate is up 200K. Neighbors house just sold for a million as well.
 
I believe Mexico makes you have Mexican citizenship for you to be able to buy a place. I don’t know how hard/easy it is, but I think that’s there thought process behind it. Don’t allow a bunch of “foreigners” to come buy all OUR land.

My tax guy just told me last week that there’s been talks of the US actually doing something similar. With the US being a melting pot of so many cultures/races/immigrants, I don’t see that being approved.

But it is pretty sad so just have these companies just come and buy cash, plus throw in 50k on top of asking price. With these rates going up, it’s gonna price out the “regular” person even more, and more places will get scooped up by these investors.

Mexico is weird. The only restriction is that non-citizens can't buy within 30 miles of the coast. As you can imagine, there's a workaround for that.
 
There is an interesting chart that shows also how few homes have been built. If the supply picks up significantly over the next decade then there could quite the stagnation of house prices + would allow a lot more people to buy houses. That’s what I’m waiting for at least - will give it to 3-5 more years of renting to see if something changes.

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we finna get busy

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Mexico is weird. The only restriction is that non-citizens can't buy within 30 miles of the coast. As you can imagine, there's a workaround for that.
Yea it’s Mexico, so I’m sure there’s a workaround. Money talks. I think the same would happen here in the US if they also did implement any restrictions
 
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Bro ... i wouldnt start shopping for a house now .... the market is still crazy and the interest rates are crazy. 5 to 6% is outrageous. Better have cash money.
 
I got curious and searched my how’s estimated value based on sold comps recently and it came back at 720k while I paid 525k less than 2 years ago…my loan is about 470k….insanity
Now borrow from yourself and lock in a low rate before any more bumps and buy another place. Rent current home. Profit?
 
Now borrow from yourself and lock in a low rate before any more bumps and buy another place. Rent current home. Profit?

The rate I got when I bought is lower than what it currently is I believe tho…not sure it would benefit me long term…gotta look deeper into it
 
My current rate is 2.875. Was looking at refi to pull cash out for rental but don’t want to nearly double my rate and principle. Will probably go heloc instead.
Could you elaborate on this route.?
I'm in a very similar situation with an identical interest rate...

Lots of great info and knowledge in here...

Per various real estate websites (Redfin, Zillow, Remax etc.) My house has appreciated about $200k...

I unfortunately still have PMI on my FHA loan, my understanding is that I can only remove that by refinancing the loan to conventional and realizing my current equity... That however puts me at the mercy of current market rates....

What would you guys recommend.??
 
Could you elaborate on this route.?
I'm in a very similar situation with an identical interest rate...

Lots of great info and knowledge in here...

Per various real estate websites (Redfin, Zillow, Remax etc.) My house has appreciated about $200k...

I unfortunately still have PMI on my FHA loan, my understanding is that I can only remove that by refinancing the loan to conventional and realizing my current equity... That however puts me at the mercy of current market rates....

What would you guys recommend.??
Some lenders will remove it by doing an appraisal. Other lenders don’t offer it and you would be forced re-fi.

Call your lender and find out. Maybe bluff them that you might re-fi with another lender and your current lender gonna lose the loan. **kanye shrug**
 
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