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Investment Properties : Nationwide Real Estate Advice

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Activity 5,164
A few minutes ago
Suzanna_6996 asked:
A few hours ago
Kathy Burgreen answered:
Forget investors - they cannot help you. You and your sibling who want out need to contact a real estate attorney and explain your situation. Briefly, your sibling who is currently living in this home needs to find out if he/she can refinance or take out a loan with the cash out paid to you and your sibling who both want out. A real estate attorney can sort out the legal issues.

Nobody online can advise you because we don't know what the terms of the will stated and there could be issues we are not aware of. As for investors, Susie's answer is correct. Investors don't want to get involved with family disputes and since your sibling lives there rent free, there is no income for the investor. So why would an investor pay money for 2/3 of a house and not receive a monthly income from the purchase? Investors are only interested in 1 thing - making money from their purchase. They don't buy 2/3 of a house and not make a penny from it.
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Yesterday at 9:55am
Pat Baron asked:
2 story all brick 3 bds an den. 1400 sq ft in nice area. Close to schools an shopping. Loads of character. Stain glass windows an wood work. Fire place. Full basement new furnace. Den flipped.…
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Yesterday at 9:47am
Paulhansen007 asked:
Yesterday at 7:32am
Kathy Burgreen answered:
Don't do it. You will regret it. I'm a former realtor and currently VP of my HOA so I speak with experience. You have several issues / challenges:

Property taxes - if you convert your home to 2 bedrooms, you need to verify with your county tax assessor if there will be an increase in taxes. You will need to get a permit and the county will know about it.

Realtors and buyers - each bedroom needs to fit a bed, clothes bureau, nightstand, desk? and floor space to walk around. Will both bedrooms have enough space for this? I don't think so. You need to understand that buyers want "normal" size bedrooms - where they are not squeezed between furniture to get to where they need to. If buyers feel squeezed between furniture, they will reject your condo. By the way, buyers have more furniture than you think, so if your intention is to minimize the furniture - think again. Buyers will envision your bedroom with THEIR furniture in it AND their furniture needs to fit INSIDE the bedrooms.

Appraisals - you need to contact a few appraisers and ask them how they would evaluate your condo if you convert it. At least you will know before you start.

HOA approval - sorry but you cannot do any construction projects without HOA approval. The HOA is VERY concerned with damage to hallways, elevators, debris, whether contractors are licensed and insured, etc. Briefly, if the HOA discovers any damage to the condo complex, they will penalize you.
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Tue Sep 19, 2017
Susie Kay answered:
Those townhouses are lovely but typically builders do not sell their homes to investors. They are afraid if the homes are rented the renters do not take care of the property so it drives the neighborhood and the price down. Also some home owners will not purchase a home where there are many renters in the neighborhood. If you really like this townhome you can purchase and live in it then rent it out later. You probably need an approval from the HOA, though, or you purchase a pre-owned home for investment.

Farmers Branch is centrally located and there will be a lot of demand for renting there.
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Tue Sep 19, 2017
Vicky Arcovio asked:
Good morning. I was wondering if I could find someone who flips houses near St. Johnsville New York. I have become interested in a property in that area and would like some help if possible.
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Mon Sep 18, 2017
Eddy answered:
If you're not too familiar with the area you should contact a professional in the field, a real estate agent. They can provide great insight and give you some direction towards your investment. Check out UpNest.com they can connect you with a top real estate agent in the Seattle area, it's a free service so give it a try! ... more
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Mon Sep 18, 2017
Mark LeMenager answered:
Depends a lot on your budget, whether you just want to cover your costs or make money, and the type of property you want -- condo, townhouse, or single family house. For condos and townhouses, the best resort for units that can make money is Windsor Hills, which is about 2 miles south of Disney's Animal Kingdom. Figure $140,000 to $170,000 for a condo, $185,000 to $200,000 for a townhouse. Houses in Windsor Hills start over $300,000. If that is too much, then Windsor Palms is a good alternative. You can research Homeaway and Airbnb to see what they rent for. A well marketed 5 or 6 bed house in Windsor Hills will generate $50,000 to $60,000 in gross rent after tourist tax per year. Please click on my picture, check out my info and reviews, and contact me directly. Happy to help you out, too. ... more
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Mon Sep 18, 2017
Diane Christner answered:
Your available steps are determined by the terms of your contract. What does it say regarding inspections and repairs?

Mold remediation can be quite expensive.
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Sun Sep 17, 2017
Rchaywood asked:
Sun Sep 17, 2017
Mark Smith answered:
HI,
Great idea. I think you need to hire a reputed real estate investment agency that has a great experience in property investment in Baltimore.
Thanks!!
0 votes 1 answer Share Flag
Sat Sep 16, 2017
Ryan Beechler asked:
Ryan I would like to know if there is a buy now price and if there's not how can I bid or speak to someone that can help me with that.

Thank you
Ryan Beechler

405-756-6190
rbr6@live.com
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Sat Sep 16, 2017
Susie Kay answered:
I would suggest that you work with a local realtor at personal level. Are you planning to rent the home or live in it? With a duplex you can rent the other side. You would need the assistance of a local realtor to show you how much you can rent the home for vs the cost of owning it, how much price has increased in the past, etc.

Good luck!
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Fri Sep 15, 2017
Mariam_49 asked:
the house ten years plus now and my name is not in the deed and even in the mortgage. If he sells the house can I have something from it.
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Thu Sep 14, 2017
Jessica Garcia answered:
Well I like to thank the community for your help...Yeah Right????! No one answered my question. But I thank the Lord for helping us in the right direction.
Thanks again San Antonio!
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