A tag for questions on real estate or property.

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1
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1answer
55 views

large recurring transfers of to India from US and/or taking Indian mortgage

I am a US citizen and have lived in America my entire life. My wife is an Indian citizen is in the US on a Greencard (K1/fiancee visa) for the last few years. Before marriage, when she was in India, ...
4
votes
1answer
32 views

Selling vacation home - does capital gains basis include selling fees?

I have just sold a vacation home. I see the 1099-S reporting the sale gives the gross price, but of course that was not the amount I actually received as there were deductions for a) my closing ...
2
votes
8answers
3k views

Why are Rausch Coleman houses so cheap? Is it because they don't have gas?

I have been looking for a new house for 5 months now. An average price per square foot in my area is $100. However, Rausch Coleman Homes is offering very nice and SUPER CHEAP houses for $75 per square ...
1
vote
2answers
159 views

Real estate agent best practice [on hold]

My wife has recently became a real estate agent, and since we've been flipping houses for some time now. She got really good referrals to get into this business. She is working with really bad ...
0
votes
0answers
31 views

Impartial way to determine my offer? [on hold]

I'm interested in a property for sale in a low-income area of Indiana. What is the lowest offer I can make on a property asking 59,900?
1
vote
0answers
42 views

How to read loan estimate, what to look for?

We are buying a newly constructed house and have been trying to compare loans from 2 different lenders (builder lender and our own lender). They both sent us the loan estimate sheet in similar format ...
1
vote
1answer
18 views

How do I set up Quickbooks for a small property rental company that holds its properties in separate LLC's? [closed]

My company is set up so that it has a Property Management LLC (PM), Property Holdings LLC (PH) and several real estate assets, each of which is held by the PH but is also its own LLC (props). It was ...
5
votes
2answers
84 views

Purchasing a home using collateral

I am inheriting 50% of a home (entirely paid off) appraised at $60,000 and am wanting to purchase a home for about $75,000. Can I use the first home as collateral to purchase the second home or to use ...
1
vote
1answer
61 views

How to get into real estate with a limited budget

My friends and I are all young engineers living in Belgium who are looking to get into real estate. I figured it should be a good investment as loans are pretty low right now and real estate is a ...
1
vote
2answers
54 views

How is Los Angeles property tax calculated if a 50% owner later buys out the other 50%?

I own a property with my partner. To make it simple, let's say we bought the property for $100K five years ago and now pay property taxes at this base price plus the usual 2% increase per year. If I ...
2
votes
1answer
57 views

Assessed value of vacant lots

In my town, a middle class bedroom community in the area west of Boston around Framingham, I notice that in some of the poorer parts of town are various vacant lots of 5000-10000 square feet with no ...
0
votes
0answers
40 views

My co-borrower wants her name removed from a 5 year mortgage contract [migrated]

Me and my sister in law bought a house. We ask her help to acquire the loan. She signed the mortgage loan for a 5 year contract we got the house. Me and my wife paid all the expenses and down ...
0
votes
1answer
99 views

Can you depreciate real estate that has previously been fully depreciated?

If you buy a property that is 39 years old and has already been fully depreciated, can you depreciate it again, for another 39 years upon your purchase?
1
vote
2answers
212 views

How does investors' finders fee work in the USA?

I am going to a few investors clubs in the US and I got approached by a person offering me a deal (buying a property that rent rooms) that will provide $3K monthly net cash flow. He initially called ...
20
votes
9answers
5k views

Is this investment opportunity problematic?

I recently got an email from a close friend of mine, that goes something like this: We're looking to sell our rental house and buy a new one. We found one we like, but the housing market is very ...
0
votes
1answer
47 views

How do brokerage fees affect the fair market value of a house in a buyout?

If Alice and Bob buy a house for $100,000, and one of them needs to buy out the other's share soon after, would the fair market value be $100,000 (the purchase price) or $94,000 (what they would get ...
1
vote
0answers
29 views

I purchased a mobile home with my money out of a settlement I got [migrated]

What if it is just two friends who are no longer friends. I payed for my mobile home in full with my own money but put him on the title. Can I sell my share which is the full price to someone else?
8
votes
1answer
16k views

How do I sell a home that's owned jointly if my partner doesn't want to sell?

I own a home jointly with a partner. I have made all the payments, taxes and insurance since the beginning. I have a buyer for the home but my partner does not want to sell. How can I override his ...
-3
votes
2answers
32 views

using deed's of trust to negotiate for higher prices for land sales

It seems like Deeds of Trust's for real estate properties (which are public records) include the loan amount on them (assuming a loan was obtained for the purchase of the property). Obviously this ...
2
votes
1answer
4k views

Tax implications of selling part of land associated with main home

My wife and I are considering splitting off a portion of the land attached to our main residence. Will this be taxed as a capital gain? Can the money be put towards the mortgage and not be taxed? ...
1
vote
4answers
76 views

Property tax rate disconnect

I live in Santa Clara County, California and I have been shopping for a mortgage for a home purchase in this county. I am repeatedly told by every bank that the tax rate is 1.25% of the home ...
2
votes
1answer
63 views

What special considerations need to be made for a US citizen who wishes to purchase a house in Canada?

According to an answer on a previous question, buying a house in Canada if you are a US citizen is pretty straightforward. But it doesn't address tax concerns in both countries - how are they handled?...
-9
votes
5answers
274 views

What if 40% of the remaining 60% Loan To Value (ratio) is not paid, or the borrower wants to take only 60% of the loan?

I wanted to know that what if the remaining 40% of 60% in a LTV (Loan to Value ratio ) for buying a home is not paid but the borrower only wants to get 60% of the total amount of home loan that is ...
4
votes
1answer
91 views

My wife and I are selling a house worth $230k-$260k. Its a rental. Should we use an agent, limited service listing agent, or FSBO?

Reasonable expected sale price $245,000. Traditional Agent: Fee = 6% = $14,700. High energy agent who is very familiar with the neighborhood and market Limited service agent (Duffy Realty type): ...
13
votes
7answers
2k views

Is there any instance where less leverage will get you a better return on a rental property?

The larger a mortgage I have on a property the less money I have to put up front so my initial cash flow is worse but my cap rate and overall return is better. However the larger my down payment the ...
0
votes
1answer
198 views

Should I buy a 2nd home for approx. $400-450K at age 63, if I can put down 35-40 percent?

I own and lived in a condo apt. and have no mortgage on it and moved (out of state) and rent it out. I am supported by the rental income as well as still earning a modest income. I want to retire in a ...
0
votes
0answers
26 views

RT-2 zone : townhouse or house?

We live at Great Vancouver area Canada, and we own a detached house (though it is a strata house in a strata community, all houses are physically detached from nearby houses), and it is within RT-2 ...
3
votes
1answer
38 views

House sales and capital gains - primary vs secondary

State: Texas I have two houses. I don't treat them as primary or secondary, they are both occupied. I am keeping them while I can, waiting for the value of one of them to go up sufficiently so I can ...
6
votes
4answers
13k 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?
2
votes
1answer
37 views

Michigan property owned as joint tenants with rights of survivorship [closed]

Three siblings own property in Michigan as joint tenants with rights of survivorship. One person wants to sell their portion of the property to one of the remaining kids. Will that give that one ...
8
votes
4answers
5k 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 ...
2
votes
1answer
2k views

Construction loans - when do payments begin?

For the sake of round numbers, consider this scenario: $300,000 land purchase $700,000 cost to build a home $200,000 down payment Figure building the home will take 1 year. My question is, for ...
1
vote
1answer
59 views

Capital gains tax

I have a piece of land in India that I purchased about 20 years ago. I entered into a development agreement with a real estate developer in February 2014 for construction of apartments. The ...
0
votes
1answer
61 views

Shared Property Ownership

I refinanced my primary property to afford ($37,000) the purchase of a home in 2005 for myself, my boyfriend and my newborn son. My boyfriend and I had a verbal financial agreement that he would pay ...
1
vote
0answers
73 views

Guidelines on when to buy or rent an apartment (in Europe)

I am currently facing an important decision for my life: I finished studies and will soon enter industry to work. Due to the fact that I will likely earn some money on a regular basis, I want to ...
0
votes
0answers
123 views

How to find small vacant lots to buy?

I would like to buy a small vacant lot so I can erect a small warehouse and store stuff there. However, the problem is that people don't generally advertise the sale of small, empty lots with no ...
1
vote
1answer
125 views

A Person Just Wants to Sell a House — Whats the Commission?

Lets say a person owns 2 houses and wants to get rid of one. Lets say usually its 5% listing (60/40) seller/buyer agent In this case theres no buyer agent because seller is just looking to sell the ...
1
vote
2answers
154 views

How much financial information should a buyer give an estate agent?

A friend of mine would like to buy a flat. It is currently a sellers' market and the agents write: Along with your offer we require your sales position ie. first time buyer or you have a property ...
1
vote
1answer
65 views

Can I pay money in USA to buy property in India?

I currently reside in the US (on H1B Visa) and I plan to buy property in India. The current owner of the property also resides in the US. I was wondering if I could make part of the payment here in ...
6
votes
2answers
251 views

Why is selling a house in one day regarded so highly?

As a recent first time home buyer, I now get a lot of mail from Realtors and agencies. I've noticed that often times advertisements will boast that a house has sold in one day. In my mind, if a ...
2
votes
2answers
161 views

Reason to give for personal loan in USA to buy land in India?

I am buying a land in India for that i need personal loan for about 15k. I am not sure what should be the good reason to give to credit unions to get the loan approved. Please suggest and thanks in ...
6
votes
2answers
7k views

Construction loan for new house replacing existing mortgaged house?

Let's say I buy a home with an ordinary thirty-year mortgage, intending to renovate the house slowly and live there a long time (ten years at least). Five years into the mortgage, however, I decide I ...
2
votes
2answers
174 views

How to manage 20 residential apartments

My friend's father (Say, Mr. X) in India had invested in a piece of land long time back. Two years back, he sold that land to a real estate builder. The agreement of the deal was the following: "The ...
0
votes
4answers
292 views

Should I pay off my house

I purchased my house (3 bedrooms, 2 full baths) in 1997 for $84,500. I have already made $166,500 of mortgage payments on a 9% interest rate loan. I have $53,000 left in payments. It recently ...
36
votes
6answers
5k views

How does 'upgrading' from one house to another work?

Consider this scenario. For a given neighborhood, a small house is $100K. A big house is $150K. For simplicity, assume that you purchase the small house with all cash. 5 years later, it is now worth ...
0
votes
1answer
48 views

Taxes on sale of principal residence in Ontario

Is it correct that in Ontario, if you sell the home which is your primary residence, you pay absolutely no taxes at all on the sale? Are there any terms and conditions to this?
1
vote
1answer
78 views

Can I take tax deductions for a second residence where my son lives?

I own a small second residence where my disabled son lives. He is unable to pay any rent and probably never will. For income tax purposes, can I depreciate the house, deduct property taxes and ...
0
votes
2answers
280 views

Selling property in India and gettting back money to USA

I am on H1b visa in USA and thinking about buying property in India. Suppose I alraedy bought some property in India, now in future if i sell the property in India, then how can i get that money back ...
0
votes
1answer
58 views

Does a significant turnover of homeowners in my neighborhood directly affect property value?

I've recently noticed lots of "For Sale" signs in my neighborhood, I'd venture to guess as high as 10%, which seems like a significant turnover. Aside from efforts by sellers to increase curb appeal (...
1
vote
1answer
89 views

What are the differences between a REIT and an MLP?

What are the differences, in layman's terms between a REIT and an MLP? Why should I choose one over another? Could you also provide real-world examples for both types?