Ask a Realtor® anything

Live in a shared house and buy rental property in brooklyn instead.

Do you deny blacks of your service?

Sellers are only interested in financing their buyers when they have a need to. Most sellers are looking to cash out and are investors who have a need for cashflow.
The Seller wants all the money, you want all the property. It is a million times easier to talk the price down during your due diligence than it is pre-offer

Tight. Any resources you'd recommend for getting started ? Books, blogs, YouTube's, etc?

I hire a professional to take care of that... So I don't know. But I'll look into it A mortgage that doesn't reverse amortize, or have a variable interest rate. So you want a amortizating, fixed rate mortgage. There are different loan programs(FHA/VA/Conventional) that you need to talk to a loan officer for.

Graham Stephan's Youtube is a good start. Don't buy any of the real estate courses. Most of the technical details can be learned better through books, but watch videos to get familiar with real estate first.

thanks user

How much do you pay them to do that for you and what other services do they provide?

Is housing crashing? Mortgage rates are dropping but homes in the bay area are still sitting on the market.

I find using a realtor to buy a fbso is a waste of money. Seems the seller will just tack their commission to the sales price and price an investor out of a deal. Also in general, all they do is send automated leads from the MLS which in my area can all be found on Zillow. I would only use one in a transaction if it was already listed by a listing agent, but even then I might just go without so the listing agent can get his full commission. What are the advantages, if any, of using a realtor when buying? Is that just for people who don’t want to put in any effort or thought into buying a property?

Listen, you already have it in your head that... When you make it. You need to start small with a property now, roll the appreciated equity along with your increased share in the property (as a result of paying the principle on your mortgage) and buy something better. Real estate is not a to the moon endeavor.
Yes that's true, and you might want to look at grants and free money that the state/federals are shilling so you can live in the BFE.
I sell in luxury, multi-unit investment, single family investments single family estates, and vacation properties. I find leads by meeting people from my hobbies, prospecting over the phone to different professional associations I am a part of, and from referrals.
No. Anyone willing able ready & motivated to buy or sell can in USA.
Yes. What state are you in? Meeting with a Realtor is free. They charge on the back end for their services in the form of a commission. What other questions you have?
Graham is ok... He's... Just ok. Mostly a shill.
Drone. HDR images. They mostly charge by the sq. Ft.
There will always be honest for sale. Some might sit longer because of these factors: Location, condition, and price.

What do you think about tokenized real estates as a business model?

how can i get a ninja loan? i don't want to live in the house just rent it out.

Should I use my VA loan to buy my first house. I have $50k in the bank and a 780 credit score

I'm in North Carolina. Raleigh area where avg house is 300k with no yard to speak of.

Grew up in a poor town in a poor family. I make good money now. Thinking about buying some property in my old hometown cause i can get the same house I mentioned above for less than 100k.

raleigh is a liberal shithole full of yankee transplants.

how do i turn 150k into millions in real estate?

You are a smart guy. And you sound just like me. If I can get away with paying commissions, than I do. But for the most part, I found that clients who are either unsure of the changing paperwork (every transaction is different), the restriction that comes with not being able to access listed property (agents don't let buyers go unattended), and that the seller has already agreed to pay a buyer's agents to bring fully qualified buyers (making buyer's agents free to the buyer) - a lot of people see benefits there.

But if you don't need an agent, don't get one. If you don't need a CPA, don't get one. If you don't need a doctor, don't get one.
Explain tokenization desu
Ninja loan? Lol. You could buy a home as a first time home buyer and then move out after a year to rent it out ( which will avoid committing loan fraud.

Indeed. Money's better here than anywhere else though.

VA will get you 100% Loan to Value. The 50k you can either use towards, loan costs, buying down the principle, making improvements on the property, or use as a cash reserve in case you lose you job. But buy the house man, your country loves you.
Is the yard the only thing stopping you?Leverage, syndication, or transactions
You can leverage the money to acquire multiple properties. 1 paid off is worth less than 5 with 20% down.
Syndication helps you get invested with a bunch of other investors. Lose control but also lose risk.
And you could play the transaction game, buy one in cash, market your property for more and continue to a million.

is 150k a good start for real estate? so i get mortgage for a house with 20% down then leverage the home equity into another mortgage? isnt that how the housing market went poopoo in 2008?

>itt someone LARPs as a realtor and gives vague answers to specific questions
Bro, you aren't even fucking saying anything, just stop. Even if you are an actual realtor you wouldn't brag about selling millions of dollars worth of houses since that's like fucking 3.

t. Actual Realtor

help me understand write offs. Can I write off interest and property taxes? Do I get all of that $ back?

hello can u answer my question? also is being a landlord a bad idea? i always hear horror stories about it

Do you already own your own home?

Investing in single family is a mistake. Use the $150k as a down payment on a small apartment building.

Being a landlord isn't bad so long as you do your contract properly and put your foot down with annoying tenants that want to treat you like a 24hr service.

>Your attitude towards a fellow Realtor®
Not a CPA, but you are able to deduct mortgage interest, home repairs, and taxes.
Being a landlord is difficult, and you have to learn how to be a Lord. A stoic. But that's why I asked if you own your home already.

holy shit and if that works, what's stopping you from leveraging the home equity of that 2nd mortgage into getting another house?
you could buy up a city with just 20% down on one property

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I do like to use realtors to prepare a CMA, because I like second opinions. I have found realtors to get annoyed by this request. Understandably so, since I don’t intend to use them in a transaction. I would like to pay a realtor to run these for me. I know they pay costs for full MLS access. What do you think fair compensation would be per CMA, and how should I go about asking?

That's true, but leveraging your self into an apartment is impossible if you do not have the liquidity, ability to repay, and the credit to get into the apartment (excluding seller financing). Most owner occupant loans only let you into a 5plex anyway. Which isn't a bad move, wouldn't you agree?

The underwriters for your loans will throttle you after about 10 properties. I charge $100/hour for real estate consulting to investors who choose not to use me as their agent in the transaction. But we spell this out from the start, and they are happy to save the money.

no im 31 and live at home
interesting, i love that idea

>The underwriters for your loans will throttle you after about 10 properties
that still seems insane i could take 20% down and get 10 properties out of it, fuck i wish the properties around me were cash flow positive

in your opinion, is it worth it for buyers to work with an agent? what about in a for sale by owner situation? seems like the buyers agent would just get in the way in this kind of transaction since there's no selling agent to split a commission with.

>ableebloobleebloo
It's only hard if you don't have the lender backing you up.

As a realtor you should have a hard hitting nigga of a lender that will go to bat for you and get your clients financed. If you put 20% down on an apartment building with a decent ROI that has close to a 100% occupancy rate throughout the years and it appraises, there's no way they say no.

I have a go to lender, go to inspectors, and go to insurance company. They will get shit done and my inspectors will rip a house apart to make sure they find any issues that exist. My client can hire whoever they want, but I know that when shit gets real my guys will take care of us. All I do is buyer reps, so they know that when I call it's time to get paid.

You won't be able to get new loans until your old ones are paid off after a certain amount.

lmao

See and

aha, guess I could have read the thread first...

How do I escape a call center and do literally anything else?

thank you OP. My wife and i are in a huge dilemma, maybe you know what to do?
>looking for a house for two years already, not going to mention state but very few houses so its competitive.
>found amazing house we want. 100,000 under budget.
>multiple offers. we did escalation offer with cap of 20 grand over listing price. G
>got denied.
>got a message from realtor the day after that hes thinks sellers house they were going to buy fell thru.
>seller wanted to know if we could do a leaseback after closing for 6 months.
>no problem for us because we arent in that much of a hurry even though we've been looking for two years.
we dont really want to become landlords for that six months. what do you think we should do in this situation? The house is amazing and perfect, a lot of people want it but not everyone can wait for seller to find a house like us, but as i said we dont want to become a landlord, its just too much. we feel stuck and super fustrated, our realtor is really no help. we are so desperate to find a house and this is the perfect one, how do we buy this house?
P.s. looking for a house has been the most maddening experience of my life.

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Go try it.
For reals, you also run into a couple other barriers, like liquidity. Underwriters want you to have cash ready to burn if your ship starts sinking.
If there is a FSBO that you are interested in and you don't have an agent, know that the seller will likely get the better of you (either from ignorance or maliciousness). But they may not.
Nice, it sounds like you make it work for your clients.
Hmmm... That's the debt to income ratio I think you are talking about.

hey op maybe you can help a /b/ro out. Im 30 years old and I have no credit card no license and my name has never been used on anything all money ive ever had was cash. So essentially im 18 years old on paper. I live in florida and I own a home in a prime location already went from 150k to 350k. Ive done some work in the kitchen and outside. Instead of selling this house(completely paid off no mortagage) I was thinking of renting it out to have some cashflow while i either went into real estate/locksmith/electrician. so the question is wtf do i do? Should i sell? renting a good idea? Should i go into real estate? should i just take out a mortgage or loan on the house and buy another one and rent this one? i have no idea what to do. I appreciate all the help

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In a situation where a buyer ends up wanting to make an offer on a for sale by owner property, seems like a buyers agent would be a real pain in the ass. in that scenario, the seller isn't going to want to cover agent fees...that's why they are doing for sale by owner after all, to the buyer is going to end up eating the cost.
take away here I guess is don't sign a contract with a buyers agent that would bind you to this sort of shit if you want to drop them.

Not quite debt to income ratio, as long as your properties are cash flow positive. Just risk management on the underwriter's part, so if one of the property goes in the red, they all don't topple over like a domino.

Knock doors. Use social media. Go to networking events. Call centers are a function of business. Get used to making the connections, build the relationships, make the deals. It's a skill.
If you are buying with an owner occupant loan, you have to occupy the property in less than 60 days. If you are using a non-owners occupant loan, then... That's not an issue, same goes if you are paying cash.

But srsly. If you don't want them in your house for six months, tell them that. But if you don't get the house you want for it, maybe you need to have a conversation that creates a win-win.

If you are credit averse, then you probably always will be.

But it is in your financial best interest to consider what is more important to you:
Regular cash flow-renting the place out.
A lump sum of cash - selling out.
Or acquiring a home equity line of credit - using your house as collateral for credit.
Which sounds like a better fit for you?Agree. And you can always just ask the seller if they would pay for the buyer's agent commission to assist with making the paperwork legit.
>Don't get screwed.

I’ve enjoyed this user. You are very knowledgeable. Do you mind me asking what market you are a realtor in? Purely curious.

I am in the Utah area.
Https://www.SLC.agency

Helo sir,
A few friends and I are thinking about buying 4 acres with 3 busted up houses (one being a two family house) on it to fix up and rent out. Is this a good idea and what should we know?

even the mortage lady said it was a bad idea. Talking to the actual sellers ourselves would be a bad idea no? i thought everything should be said on paper and not thru the mouth?

Everytime I leave my browser to text my client it deleted all tabs... Lol

Capital, capital, capital.
It is a great idea and you need to double your budget and triple the time if you guys are going to be doing it your self. Play the long game and you will win if this is your dream.
You are right. Agreements are to be made official and binding using writing. But you are welcome to use your mouth to facilitate the agreement, then put your money where your mouth is by getting everyone to agree on paper. Shoot, how does an agent get the deal done if they don't talk? But your loan lady is speaking from experience, she is saying that she has seen overly complicated agreements get turned down at the underwriters because of needlessly worded semantics.

I'm don't work as a realtor, but am licensed to do so, I'm mainly an investor.

The most important part is accurately assessing the cost of the project vs the projected income. You will need to find out the condition of the house, to assess the repair needed. The legal standing of the property, whether if it is condemned or failed inspection to be certified for occupancy and how much time it will take to complete those. Any owed back taxes or outstanding lien on the house, although your title insurance company will do that for you, but you would have wasted a lot of time getting to that point. The vacancy rate of the property in the area, and how realistic it is to keep it occupied for a significant amount of time. The cost of borrowing, closing, and taxes.

How do I network when I'm autistic and exhausted from wageslaving?

Agreed.

is this your favorite larp so far? and are you based in houston by chance

Im not credit averse Ive just never been able to properly participate in society but all the behind me now im looking to profit from my surroundings and inventory. Ive been thinking of buying vending machines too and putting them around my town for extra cashflow. I have money that's not the problem or i can get money from relatives etc but before i go invest in stocks or buy up houses or sell this one i need advice from an adult that's been there done that. I dont mind going into debt as long as i have cashflow.
again thank you.

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...

$30k down
$1k a month to throw at it
>What are my options?

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>Autistic
Become increasingly knowledgeable about real estate and start posting about real estate on all your social media and all around town. You might not be able to read social cues, but you will be seen as the expert.
>Exhausted but plays vidya

45 min. Today. Set a timer for 45 min today, and reach out to people via LinkedIn, Instagram, Facebook, or even knocking doors. You do this everyday already with vidya and you will beat the Vidya.
I got homies in TX who can help you. But we can chat if you wanna. What's the plan?
I appreciate you letting me know. Why do you need the moneyr? Like why? That will help me understand you.

Meet with loan officer to see what you qualify for. If you can't, meet with a realtor who can identify seller financing properties that might take 30k. You'll probably be looking at 150k or below properties.

Appreciate the info

Your welcome
>Themoreyouknow.jpg

feet

Great questions today. Hopefully I'll do this more often. There seems to be a need to address user concerns and questions.

Want to sell my house in DC and buy another one in the south but have a shitload of debt (student loans CC)

How screwed am I here? Bought the house at 350k And paid it down to $300k.

well all the money i do have is essentially everyone else's money /family so i would like to start making my own so i can be independent and start my own money. I lack education and even work experience and for my age thats a huge negative the only thing i have going for me is that i can borrow a good amount of money so i can start my own biz but i have no fucking clue on exactly what to buy. I thought about renting this house owning vending machines and drop shipping things that i believe would sell well in my community.

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just like realtors themselves, this has been the worst thread. ive come to find that realtors are just like mechanics who try to rip you off, except you know they for sure they are going to rip you off no matter what

you honestly suck as a realtor and I would never choose you

Are their homes available for you in the area you like?
Starting a business is tricky and fun. Are you working now?
>You don't rip anyone off
>Has skills or constructive feedback

I'm interested in real estate and live in TX.

Is it better to buy land and build a house in the long run or just buy a house in general?

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building a lead generator site for an insurance adjuster, i need camera suggestions for geotagging pictures for google business

Building a house vs buying a house is mostly unimportant in the long term. You might save money over time by using slightly more expensive and longer lasting materials though.
In the short term it'll be a pain in the ass to hire people to build it out and would take months, but the benefit is you can build it however you like.
Modular homes that are built in a factory somewhere that are then moved over and placed on a foundation on your property seem like a good balance between the two.

One drawback in building the dream home you envision today is that what you want will probably change in 20 years, having a family or kids, or maybe if you have kids already them moving out, or just you changing, all of it could affect how you would want it built, so I don't see a big benefit for building a house.

Is that a MADI house? Building an inexpensive tiny home could be really nice, lets you cut down on living expenses, and if you want something bigger you could always upgrade it.

Cool! What's your plan?
Location location location is always first. Consider what you need around you the reverse engineering what you want. Do you need a grocery store within walking distance, but you want the forest around you too? Maybe you ought to consider the time it takes to build the home, would anything require you to move while it was being built (like a job change, or a promotion).

What do you need the geotags for, Google business? Why?
Smart advice, very well thought out.

>Are their homes available for you in the area you like?
Yes. In either Greenville or Columbia SC.

Am lowly real estate investor. No rehabs just flips never took on a loan so no debt and instant equity. Doing fine building my bankroll but i'm looking into cashflow properties but I don't want to go for SFR. Im leaning at the moment toward quads or better. My intention is to hire a property management company so I can be somewhere else. What markets are good for starting out with multi family RE investing? And what factors should I be looking into to determine the quality of any given areas market for multifamily investing?

I suppose become licensed first. You mentioned you had friends in TX based in Houston. I currently reside in a smaller "hub" city, and I suppose my question is would I have to relocate to one of the bigger TX metros if I'd like a real shot at making money and getting into that type of career path?

Can you see your self being able to liquidate your property for homes in that area? I assume you can pay your mortgage, what's stopping you from making the move?
The first thing with multi units is jobs. You can buy the nicest 4plex in America, but if there are no jobs for renters... Well...
>Kys.exe
But for real though. Jobs. High paying jobs. And you want to look to see if you are in a boom/bust town. Like oil feilds can be lucrative when the boom hits, but when the bust visits...
>Gainzgoblin.jpg
How many multis do you own right now? And how far from you are they?You don't need to be in densely populated areas to get started, you need to be regularly generating leads and systematicly engaging with them. Sometimes moving is the worst thing because you don't know anyone in the area. It is much easier to get into business with an area and with people you know than the opposite. Ya dig?

Still op

for google business and website content, local seo

Realtors are parasites.

No realtor is pointing a gun to your head for you to use their service.

for google business and website content, local seo

Good point on the local economy. I didn't even think about a boomtown problem. You just potentially saved my ass from a future liability so thank you. To answer your question, I don't own any multi families at the moment or any sfr. I buy and sell land and any houses I can get my hands on but I'm trying to learn more out cashflowing props and find multifamily, specifically apartment buildings to be more appealing overall but I'm also learning about tripple net(?) leases for commercial and see some advantages there. Oh and I'm about an 8 hour drive to the area I buy and sell in. I pretty much find a severely discounted deal while at home then when I'm in town I buy it and then immediately hand it over to my realtor to handle the sale. Like I said it's a great way to build my bankroll but I'm looking for cash flowing multis to start building wealth.

Which is the more preferred platform Zillow or Redfin?
Do you use Docusign?

are the downtown properties overrated lately.?should we expect downturn of large cities' real estate?

Can we at least agree Hitler did nothing wrong?

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