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All Locations : Nationwide Real Estate Advice

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A few minutes ago
Cwpcwp asked:
how do I make live bid on foreclosure
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A few minutes ago
Jackie Templeton asked:
A few minutes ago
Zachary asked:
A few hours ago
Bb700092 answered:
Is it okay for an agent to show the same property to multiple buyers at the same time (i.e. while one buyer is taking the time to make a decision)? If yes, the agent is facilitating competition among buyers for the same property which shows the agent's goal is not her commitment towards any buyer but to get that property sold in order to earn her commission. Actions *always* speak louder than words!

If that is the case, why is it not okay for a buyer to facilitate competition among agents by working with multiple of them at the same time? Different buyers have different priorities and abilities to pay for the same property and the agent ideally wants the buyer with the highest ability. In the same way, different agents have different knowledge and negotiation skills and a buyer ideally wants the agent with the highest ability. The commitment, if there is any, should go both ways.

Finally, if a buyer is smart enough and can put the time to understand the process (there are many good resources in the Internet and everybody has friends/relatives/colleagues who bought properties in the same area), I do not see how an agent can be of any help.
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A few hours ago
Bradley Pietrzak answered:
I think they are a great start. Especially with so.eone that has limited capital and with property prices as of now.

Save up enough to buy on used on the cheap fix it up and get a park to pay to move it in there then rent it

You spend like 10 20k and can get a 1000 dollar rent check or more depending on the area. What it takes a hit in depreciation it makes up for with ease of access for newbie landlord think of it as training wheels as week for bigger propertys cause if you screw up with this one. At least its paid off is number one and number two at least it was only 10k. Not 50k plus any equity you lost from not knowing what your doing.

Save half the cashflow and put it in the market and over time withdraw that nest egg to buy land for the property to put it on and it now becomes a normal house by many standards and in a lot of cases appreciates.

I think it is a brilliant way to start landlording. There easy to pay off and get a hold of they have less large expensive maintenance problems because of there nature( be wary that doesn't mean there are no expensive problems that is relitive). And great for learning wtf your doing without risking your shirt and spending all of your life savings and figuring out if being a landlord is even for you if your new.

I personally love most landlords dont touch them because they bring income and rental income appreciates and allows me to increase my cashflow for bigger and better things.

At the end of there life you can owner finance them as well with land appreciation after its put on land that owner finance will give a sweet income without having to work for it at much when you retire

This is at least my thoughts on mobil homes.


Keep it a secret though dont want competition getting fierce now ya hear haha

However with a 545 hoa I wouldn't do this one.

You still want to try and follow the 50 percent rule with that you would need to rent it for the very least of 1100 to really break even or around 1300 if you want some cash
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A few hours ago
13burkecrop answered:
I live in a small community which has about 15 manufactured homes. All of us pay rent to the land owner, which does not included any services. I have been trying to sell my home since June and I have had a lot of people that want to rent it and another that wanted a lease to own. However, I was told that is against the law in Oregon--please explain ... more
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A few hours ago
Kathy Burgreen answered:
First - Tax Assessment has NOTHING to do with home values and you can never compare them.

Tax Assessment is the value that your local county / city / town places on all homes within their jurisdiction to assess how much each owner is required to pay for property taxes. Property taxes is used to pay for public schools, police, fire department, public parks, city / county employees, sanitation, maintenance costs, public projects, health care benefits for employees, retirement benefits for employees, etc.

Market Value is the value that buyers will pay for your home. Value is based on similar type homes to yours that have recently been sold (within the past 3 - 6 months), homes that are currently under contract and homes that are currently for sale. Market value is dependent on the local economy, employment situation, neighborhood information (crime, shops, restaurants, cleanliness, wealth, etc.), quality of local public schools, access to public transportation, convenience of local highways, distance to nearby cities, commute to jobs, etc.

With new construction, the tax assessment will always be 0 until the city / county comes to assess the property - after it's built. Builders need to sell the new home quickly so the new tax bill is paid by you - not the builder.
The other issue that concerns you is builders charge a higher premium price for new built homes (new construction) because they can easily get away with it. Builders know that buyers like you LOVE brand new construction homes so if you had refused to pay that "premium" price the builders were selling it for, it would take them anywhere from 5 minutes - 1 day for the builders to get a new buyer to pay their premium high price. Builders don't give a rat's ass how you feel about paying their higher premium price. If you disagree with it, they can easily tell you - "Sorry, but I refuse to negotiate. Good luck to you finding a new home. I'll just wait until a new buyer comes along in 10 minutes." This is how builders get you.

What you need to know is it will take you about 4 - 5 years for you to gain any equity on your "new" home. Once you move in, your home is NOT considered "new" anymore. If you sell within the next 3 - 5 years, you will lose money because your home will be compared to older homes instead of the new construction homes. This is why you need to live in your home for at least 5 years otherwise you will need to bring cash to close on your home. By the way, builders, realtors and lenders know this but it's a secret they never tell buyers. Otherwise, nobody would ever buy new construction homes.
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A few hours ago
Ibagdmn asked:
Unit ned near north hollywood or Burbank or else where but within 1 hour drive on local streets.
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A few hours ago
Jr asked:
if I select land, or condo, or single family I still get all listings
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A few hours ago
Patrick asked:
A few hours ago
Kathy Burgreen answered:
As a retired realtor, the ONLY thing to get realtors to bring buyers to your FSBO is to PAY THEM MONEY!! Realtors will be thrilled to bring buyers provided you offer at least 3% commission fee. Realtors don't work for free. They are only interested in closing a sale that guarantees them a commission check.

When selling by owner, I know that realtors pay monthly advertising fees to real estate websites like Zillow, Trulia, etc. and in return these websites give permission to realtors to have their faces and contact information on ALL For Sale By Owner listings as well as brokerage listings. Briefly, the realtors who appear on your listing PAID for your listing. You posted it for free. I know since I was one of those "Premier Agents" who paid monthly fees to Zillow.

You need to know that when buyers fill out and submit the "Contact Form" on your listing, the buyers information is sent to one of those agents who advertise on your listing. Zillow and Trulia have a default check mark next to one of the agents and it's up to the buyer to uncheck that mark and put a check mark next to "Owner". Realtors know that very few buyers will fix the check mark so they rely on buyers leads coming directly to them. Unfortunately, this means you don't get those leads even though it's your listing.

You also need to know that when realtors talk to your buyers about your listing, since your home is NOT listed in your local MLS system, realtors can tell your buyers that your home is NOT for sale. Realtors check their MLS system - very few ever check Zillow or Trulia for listings. So if a home is not listed in the MLS - it's not for sale. Realtors will be happy to tell your buyers that they have homes for sale in your neighborhood but these homes are listed in the MLS and these are the homes realtors will show buyers.

What can you do? You can Google for "flat fee broker" in your area and research about paying a flat fee to have your home listed in the MLS. You will be required to pay a buyers broker a commission BUT the benefit to you is realtors will see your home IS FOR SALE and they will show your home to buyers. You save about 3% in commission fees by not listing with a full service brokerage.
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A few hours ago
Tiana Washington asked:
A few hours ago
Susie Kay answered:
Many rent to own is to the advantage of the seller. I would suggest that you purchase your own home. If you need to improve you credit first, I have lenders who can help. Let me know if you are interested. ... more
0 votes 2 answers Share Flag
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