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Home Buying in 73703 : Real Estate Advice

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  • Home Buying4
  • Home Selling2
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Activity 4
Fri Dec 5, 2014
bengibson4113 answered:
Finding good credible plumbers, electricians, and drywall contractors may take a little research. Sometime's it can be helpful to ask trusted friends, neighbors, and family members. I would also suggest doing a background check to see if they're licensed, insured, bonded, and reputable. I've also heard it may be a good idea to ask an electrician or plumber if they have references. I hope you find what you're looking for; good luck! http://www.ggpumpsandelectrical.net.au/electrical ... more
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Mon Sep 29, 2014
Dan Tabit answered:
Carrol,
There is no best answer for everyone. Owning real estate and having rentals can be a great way to build wealth. It can also be a recipe for financial disaster. Who manages the properties, how do you deal with bad tenants, can you afford long term vacancies or major system failures?
For most investors, the answer is have rentals close by where they can address many of the issues themselves without paying a premium for management and repairs.
It may also come down to whether he will want to use some equity we hope he has in the home as part of a down payment on his TX property, or whether he can sell it at all for what is owed plus the cost of sales.
Buying a second home, not as a primary residence in Plano may be tough. Does he have a down payment? Without being a primary residence immediately the rules for getting a mortgage are tougher and even with the plan of getting it rented, he may not have enough income to qualify.
Owing your own home first is a good rule of thumb. Renting is paying someone else's mortgage and the incentives built into the lender laws and tax code tend to favor the owner of a primary residence.
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Wed Oct 21, 2009
Familyagent answered:
I would seek a credit company in your area, to help you look at the best
scenario to improve what you have and can do now, and work on the more
presiding asset issues later. This will benefit you for years to come! I have seen
this play out time and time again, and I have seen many homeowners like you
go forwards! SOUTHWEST CREDIT SERVICES could help you with many issues
as long as you want to work with someone too. There is an entire list of ways
to progress from there on out. [Many credit unions help in your case, as well as
local Real Estate Associations], I would ask to talk to a director,or the main help
desk with support for Not For Profits to complete all your wishes whichever you
choose to do! Good luck!
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Wed Mar 11, 2009
Ty and Kelly Tompkins, EMRS answered:
That is a very common question. Foreclosre can be a 7 to12 month process. In Enid most of the properties still have good value. If it is not trashed they can usually get their money back. Buying it directly from the bank is very tough. Most of the foreclosures whether from a private bank or FHA which would be sold by HUD. www.firstpreston.com is the company around here that lists the HUD foreclosure. You have to have a real estate professional to help you with this. An Auction or Sheriff Sale is a good way to get a deal. It is a good Idea to have a realtor help you especially if you are going to want to fix it up and sell it. A REALTOR can give you a good snapshot of the market to make shure you are getting a good deal on the property and so you don't spend too much fixing it up.

If you are thinking of talking to a REALTOR I wouldn't just get any realtor get someone with experience to help you. Some associates specialise in this. I would be happy to suggest where to start looking I do know a couple in our office. You do need to look for someone you are comfortable working with and that don't have a lot of clients looking for the same pricerange as you.

This response is a long time comming but I just realised this feature on Trulia.
... more
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