A tag for questions on real estate or property.

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1
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1answer
92 views

What are the tax rules of owning a vacation rental property?

I am considering purchasing a vacation property and renting it out for a majority of the season. Best case scenario I could generate about 50% of the annual cost (mortgage, tax, utilities, ...
4
votes
2answers
108 views

Closing on two mortgages (investment refi & primary home) — is it ok to do them simultaneously?

My wife and are are simultaneously in the market for a new home and trying to refinance a condo we rent out as an investment. The stars may be aligning that both loans could go into underwriting ...
8
votes
5answers
1k views

What is the purpose of property tax?

I currently rent, but have been looking to buy a home. I always imagined how great it would be to have a dream home, worth, say, $500K, and to have it fully paid off. My thought was the only recurring ...
3
votes
3answers
600 views

Why could rental costs for apartments/houses rise while buying prices can go up and down?

In this U.S. city, I have the impression that the rents of apartments and houses always go up, say, about a 5% per year, while the prices of buying them fluctuates throughout the same years. If my ...
13
votes
3answers
450 views

My landlord is being foreclosed on. Should I confront him?

I just found out that my landlord is being foreclosed on. My lease agreement runs out at the end of this month, but I had, through email, agreed to stay for another year (no new contract was signed). ...
2
votes
1answer
64 views

Is a trustee sale winning bid all inclusive, or are prorated taxes & fees due?

Is my winning bid at a trustee sale on a foreclosed home all inclusive, or can the trustee make us pay prorated taxes and home owner association fees? If we must pay the fees, when would they be ...
5
votes
4answers
415 views

What are my investment options in real estate?

In a nutshell, I'm about to graduate from college at 21 with a great degree and have a job lined up that pays just short of six figures. Things are looking good. But I don't want to be a software ...
5
votes
4answers
1k views

Owning REIT vs owning real estate - which has a better hypothetical ROI?

Let's say I want to invest in the real estate market because I am bullish on it. Consider two options: invest in REITs or actually purchase real estate. My question is which option has a better ...
2
votes
2answers
152 views

How can one offset exposure created by real-estate purchase?

Is there any viable way to offset exposure introduced by buying a real-estate (house/land)? By "way to offset" I mean financial instruments (like derivatives) that you can buy to decrease the risk of ...
6
votes
4answers
512 views

How can one hedge against property price change when buying a home?

Let's say I want to buy a home, with intent to sell it down the road ( < 10 years). If I want to minimize my exposure to market fluctuation, what would be the best way to accomplish that? I ...
3
votes
1answer
925 views

How much does a tenant eviction cost in Miami and New York City?

I heard it's easy to evict a tenant that does not pay the rent in US (at least easier than in Italy). I heard in 60 days comes the sheriff and kicks the tenant out of the flat. I suppose the ...
5
votes
3answers
3k views

What is the standard real estate commission to sell a million dollar home?

I want to list my condominium for US $1.3 million. How can I decide on a fair real estate commission?
4
votes
3answers
602 views

Can I check multiple lenders for mortgage rates, via preapproval, and have it only count as one hard inquiry on my credit?

Note: This applies to the State of New York (the NYC metro area), in the United States. I'm shopping around for mortgage rates. I'm not sure if I have to get a preapproval mortgage to get their ...
6
votes
3answers
175 views

I have an “excellent” credit rating. Do I need to get a preapproval mortgage letter?

I'm in the infancy of buying a residential property. I have a credit rating of EXCELLENT. Do I need to get a preapproval mortgage letter? I thought that getting preapproved would expedite the ...
9
votes
1answer
215 views

What are the risks in buying a property from a “Tax Deed” auction?

Recently, I was approached by a friend of my wife's, and she said that she and her husband were making a lot of money bidding on properties that went up for sale in our area, at auctions like this ...
5
votes
2answers
353 views

Why is mortgage interest deductible in the USA for a house you live in?

In Australia, if you have a mortgage on the house you live in the interest and other expenses are not tax deductible, unless you rent out one or some of the rooms or run a business from your home, in ...
1
vote
1answer
163 views

What is the list of free bank house appraisal like the Chase home value estimator?

What is the list of free bank house appraisal in US like the Chase home value estimator? I want good ones like the chase.
4
votes
2answers
476 views

Tax implications of short sale with second mortgage?

I short sold my home this year and was told by my Realtor that the government forgives taxes which would normally be owed by selling a property for a loss. I had heard this before and assumed it would ...
5
votes
1answer
82 views

Complications dividing real estate for a married couple vs unmarried

What complications should be expected when an unmarried couple's relationship fails after they have purchased a house together? How does this situation compare to that of a married couple?
10
votes
2answers
235 views

What are the most important things to ask a real estate agent before hiring them?

I've been researching the best ways to search for a home, and questions have come up about real estate agents. Getting a good real estate agent could potentially save you thousands of dollars, but ...
4
votes
3answers
948 views

What's my risk of buying a house for a friend and sell back to him?

I'm in a situation and need some advice. A friend of mine is in the middle of Chapter 11. He asked me to help to buy his house and in a few months sell back to him, so he can force the bank to lower ...
2
votes
1answer
632 views

How can I get a loan secured with free and clear land?

I own a piece of vacant land free and clear. I have an immediate need for cash and would like to take out a loan secured by my property. The land was last appraised at $980,000. I cannot pay a ...
7
votes
5answers
583 views

Making an offer on a property - go in at market price?

My roommate and I have talked about purchasing a home together and with interest rates being as low as they are, and the fact that we'd be able to get pre-approved for a good amount we decided to give ...
6
votes
4answers
2k views

Are parking spaces and garage boxes a good investment?

Suppose, the following scenario: You have an investment budget available to buy a parking space or garage box. (In Belgium that would be around €25000 ($30K).) currently the saving accounts make ...
8
votes
4answers
5k views

Landlords: what's the maximum amount of time to allow a guest of tenant to stay in a rental?

As the title says, but with these details: I have a rental unit; this situation has come up with a potential tenant. This tenant has an adult daughter, who, the tenant volunteered, has an unstable ...
4
votes
1answer
372 views

How can I save LLC fees when investing in Arizona real estate from California

My sister, brother and I (who live in California) want to invest our money in Arizona real estate. We would like to hold the property in an LLC for liability reasons, and we would really like that LLC ...
10
votes
1answer
2k views

Can I get a mortgage if I'm employed by my own company, rather than self employed?

My partner and I are looking to buy a house as soon as possible (i.e., the second we have the deposit in the next 3-4 months). My partner is currently in full time work but we want to focus on our own ...
3
votes
1answer
83 views

Am I required to use the listed agent on a property?

I live in Florida and am about to be a first-time buyer. Am I required to use the real estate agent/agency whose sign sits in the yard of the property in which I am interested? Are they the current ...
2
votes
0answers
150 views

HST vacant lot severed from a farm for sale, zoned residential but still has crop on it

I am considering selling a piece of land that was severed as a residential lot from our family farm. The crop has been planted on it, even though it was legally severed as residential. If I sell ...
4
votes
3answers
142 views

How to find a real-estate agent for buying a first home?

How soon should I find a real-estate agent? I am probably going to buy my first home in September and am assuming I will need an agent. So when should I contact one?
11
votes
3answers
420 views

How do people trade up from one house to another?

Newbie question here folks. My wife and I currently own our first (20% down on a condo in San Francisco in 2009; fixed 30-year loan). Obviously at some point (maybe 2-4 years from now) we would like ...
2
votes
2answers
612 views

How do historically low interest rates affect real estate prices?

30-year fixed interest rates have hit a historic low today: 3.83%. I happen to live in the second hottest real estate market in the nation and am considering purchasing my first home, which would be ...
6
votes
1answer
162 views

Keeping our current home (second property) as a rental. Will it interfere with purchasing a third home?

Prior to moving to our current location, my wife and I lived in a one bedroom condo. We continue to own the condo, owing about $80k on it. We get enough rental income that we make a profit after condo ...
9
votes
2answers
239 views

What investments are positively related to the housing market decline?

What investment sectors/areas generally go up when housing prices decline?
0
votes
1answer
2k views

Ontario new home/condo HST rebate: What is the price without HST if the price is $400,000 including HST?

What is the actual purchase price of a new condo without HST, if price is $400,000 including HST? The condo is in Mississauga, Ontario and the buyer is not a first time home buyer.
4
votes
3answers
885 views

Is there a formula to use to analyse whether an investment property is a good investment?

How do I determine the real cost of buying an investment property over time considering rent, interest, expenses and capital gain? I know there are many factors at play but is there a generic ...
6
votes
3answers
875 views

If you buy a new home before selling the old one, what could happen from not paying the old mortgage?

I'm researching the process of selling a home and buying a new one. Several articles warn against buying the new home before the old one is sold because you may end up having to pay two mortgages. I'm ...
4
votes
2answers
641 views

Where should I invest my savings?

I am 29 year old living in USA, married and expecting first child this summer. We are debt free and both have stable jobs. I have a side business earning me about $30K net income a year. We have about ...
4
votes
1answer
3k views

How does a real estate agent get paid when they're helping us find rental properties (in the US)?

My wife and I are looking into moving to a new area and would like to rent initially. It would be good to enlist the services of a local real estate agent in the search for a good rental property as ...
6
votes
6answers
227 views

Is it a good idea to buy a house with a low ARM monthly payment, then rent it out?

I'm looking around for houses in my college town to rent to others, and I've found a decent 4-bedroom house with an interest-only 5 year ARM monthly payment (of $1700). Assuming I have enough to ...
2
votes
1answer
184 views

Residence vs investment property in Australia?

I find the Australian property tax laws really confusing. If you live in a house that you own, then it is your residence. In which case, you cannot claim the interest as a tax deduction. However, you ...
16
votes
7answers
7k views

What is a good rental yield?

If you are thinking of buying a property for investment purposes, what is a good gross yield? I've been told you should take 3 zero's off the price of the property, so if a property is worth 400,000, ...
2
votes
4answers
561 views

I turn 18 in a month, what should I invest in?

In about a month I will turn 18 and I want to begin investing so I can retire early. Should I invest in stocks,real estate,etc. Not sure if this is necessary information but I make about anywhere from ...
1
vote
1answer
521 views

HUD-1 limit on realtor commission rebate?

My wife and I are buying a new house and we are using the builder's mortgage company. Assume our HUD-1 breaks out like this (numbers manufactured to hide real transaction amount): Line 103 - ...
2
votes
1answer
598 views

Tax lien investing: Possible in Canada?

I was just reading on the tax lien investing process and how it works in the United States. I was wondering if it happens in other countries. In specific, I would like to know if it happens in Canada ...
5
votes
2answers
350 views

What are the pros and cons of buying a house using an FHA loan?

My wife and I are considering buying a house. Recently a friend told us they put down a really small amount to buy a house. We found out later that it was through the FHA. I'm a freelancer and my ...
8
votes
2answers
645 views

To buy a house, is a 20% down-payment required for a mortgage?

My wife and I want to buy a house. The price is well within our means. The mortgage payment would be less than 25% of our gross income and we have no other debt, so we're comfortable with the payment. ...
4
votes
2answers
620 views

Can a parent legally qualify for section 8 housing by transferring all assets to their child?

My mother wants move out of her large house and into an apartment. She wants to move to section 8 housing which has lower rents, but first must get rid of all her assets to qualify. Is it legal for ...
2
votes
0answers
369 views

HST rebate when buying a vacant piece of land / lot and building one's own new home on it?

I am looking at buying a vacant piece of land from a developer and building a house on it. I realize I must pay HST on the purchase of the land. If I act as the contractor/builder of my new home, ...
1
vote
1answer
913 views

Hedging a foreign currency purchase (INR/USD) for a real estate transaction?

I'm looking to purchase a property in India, where the local currency is INR. My earnings are in USD. My down payment on this property will be in the range of 100-200k USD. The USDINR exchange rate ...