Questions tagged [real-estate]

A tag for questions on real estate or property.

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119
votes
12answers
35k views

Tenant claims they paid rent in cash and that it was stolen from a mailbox. What should I do?

I own a duplex, live in half, and rent out the other half to college students. I have just made a mistake that cost me $750. One of my tenants was late paying her rent. I'd thought it was still late, ...
95
votes
8answers
24k views

How to deal with the credit card debt from family member that has passed away?

My father recently passed away and had some considerable amount of debt on his credit cards. House and credit card were in the deceased’s name only. The state that is happening in is New Jersey. In ...
92
votes
19answers
31k views

Are my parents ripping me off with this deal that doesn't allow me to build my equity in my home?

When I bought my condo with cash for $155k, I paid $40k of my own money and my parents lent me $115k. Our agreement was that when I eventually sold the condo, my parents would get 75% of the gross ...
66
votes
9answers
20k views

How is early-and-often home buying as “get rich” advice feasible?

I am being told by this guy that the following is a guaranteed-to-work way to become rich and retire early. He says to start early. 20 years, or near that age. Buy 1 house a year. Rent it out. Start ...
61
votes
8answers
19k views

Should I deplete my saving and buy a house with cash, or should I rent?

My wife and I are very frugal. We've been living abroad for several years and saved a decent amount of our salaries. We've decided to move back to the US this year. We've found a modest home that ...
58
votes
4answers
19k views

Why would a home seller ask a buyer to offer LESS?

My brother-in-law is looking to buy a house. The house he wants has been on the market for a long time, and it's in pre-foreclosure. The owners are underwater on it. He submitted a lowball offer, ...
57
votes
10answers
26k views

When is it better to move - before or after a housing bubble bursts?

My husband and I currently own our home and are looking at upgrading to a bigger house in the next year or two. The housing market right now in our area (US East Coast city) is doing really well, and ...
55
votes
10answers
14k views

Is it true that real estate prices mainly go up?

My father once told me that real estate was a good business because the population is always going up, therefore more housing is needed, and the space on earth remains the same, so house/apartment ...
55
votes
6answers
17k views

Will I lose my paid-in-full property?

I paid cash for the land I put a modular home on which I financed. My husband is terminally ill and I am afraid I will soon be foreclosed upon. Will I lose my free and clear land which has been paid ...
52
votes
12answers
16k views

Invest $50,000 in cash or borrow $100,000 and get a mortgage?

I have $50,000 saved and I'm paying $760 on rent right now. All my relatives are telling me to get a mortgage so I don't "throw money away on rent", but I just don't like the idea of getting in debt ...
48
votes
8answers
13k views

How do you invest in real estate without using money?

I saw some infomercial with Than Merrill, a businessman, which claimed that anyone can, and I quote, "Invest in real estate and reap big money -- even without using a penny of your own cash." I know ...
45
votes
9answers
18k views

I won USD 50K! Now what should I do with it?

I won a sweepstakes and will be getting USD 50k...it is verified that it is legitimate although no taxes have been taken out so I will have to claim this income on my taxes next year, they will send a ...
45
votes
7answers
5k views

In general, is it financially better to buy or to rent a house?

I know this differs from country to country, from person to person (depending on how much you already have saved), but I'm curious about the simplest example. Let's say I have little to no money. I ...
44
votes
11answers
15k views

What can I do with a property that won't sell following divorce?

My wife and I bought a property just over 2 years ago for €114,000. We put down a 10% deposit (€11,400) and so took out a mortgage of €102,600. We took the mortgage on a short term (15 years) to ...
44
votes
8answers
5k views

Should I buy a house with a friend?

To give some background, I currently live with a couple of friends in a 3 bedroom apartment. The living arrangement is good however I'm tired of not building equity. I've tossed the idea out for two ...
42
votes
12answers
14k views

Should I buy a house now before prices rise even more?

We rent an apartment in Frankfurt, Germany and we are contractually bound to it for another 1.5 years. We are 33 and 35 years old and there will be children soon. We make around 110k € annually (...
41
votes
13answers
7k views

When buying a property without using a realtor as a buyers agent, can you build a discount of the buyer's agent commission into the contract?

I want to buy a home, but I'm not interested in using a realtor as a buyer's agent. I know that in MLS systems, when a realtor lists a house they specify what commission a buyer's agent will be paid. ...
38
votes
5answers
6k 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 ...
37
votes
9answers
12k views

'For Sale by Owner' - who pays the Buyer's realtor?

If I list my home and hang a sign out 'for sale by owner', and a realtor brings a buyer in, who wants to buy it, who's going to pay the realtor? I did not hire him, so I don't want to pay for him. ...
35
votes
3answers
8k views

Home inspection for home owners insurance revealed damage my inspection and my lender's appraiser did not see

I recently bought a house in Iowa. I hired a company to inspect the home, they found a few minor things but nothing major. My lender had an appraisal and they didn't note anything either. I purchased ...
35
votes
8answers
5k views

What's the catch in investing in real estate for rent?

I can see a 2 bedroom, 2 bathroom $100k property on Zillow (est. mortgage $375/mo) next to a university so rent prospects are good. Rent estimate by Zillow, confirmed roughly by Craigslist: $972/mo. ...
35
votes
3answers
9k views

What Is The “Real Estate Loophole”?

I'm seeing a lot of articles this morning about political discussion regarding a "real estate loophole" though none of the articles actually say what this loophole is and the only one that I'm aware ...
34
votes
6answers
9k views

How risky is real estate?

I have a friend who plans to retire by putting all of his money in local real estate. He makes a huge return on investment on the property he has now - something like 25%. Fundamentally, I think ...
33
votes
9answers
15k views

Math Behind Buying a House

Is following calculation correct? I spend $1500/month on average on rent. If I rent for the next 3 years, I would be spending $54,000. I can buy a house for $220,000 today and spend the same amount ...
33
votes
7answers
12k views

Selling a property - multiple offers of same value?

In the U.S., when selling a residential property, is there a rule or law regarding how to handle multiple offers of the exact same monetary amount? Is this the kind of thing that would vary state-by-...
32
votes
1answer
3k views

Do I have to withhold money when buying real estate from a foreigner?

I have recently purchased a house in the U.S. for ~$375,000 (and I'm a U.S. citizen). It was disclosed to me about a week before closing that the sellers were from China. Aside from a few headaches, ...
31
votes
9answers
10k views

Is it a good idea, to buy a flat with a loan, whilst using the rent to pay it off? [closed]

I have been thinking about taking a loan to buy a flat which I would rent out. My reasoning is that the loan would be paid off over time by the renters. After perhaps 30 years, I'd be left with a ...
31
votes
7answers
7k views

Long Distance Landlording

I hate for this question to be overly general, but I think the problem is that I don't know what I don't know. My wife and I are thinking about becoming a long distance landlord/landlady, but having ...
30
votes
4answers
8k views

'Gifting' a house in the UK

In UK news recently, there has been much talk about so called 'dementia tax', that is, the government using assets (such as property) to pay for social care in old age. Whether or not people should ...
29
votes
4answers
13k views

Does a larger down payment make an offer stronger?

I'm a first time home buyer, buying in the Jersey City area. My realtor insists that, given two similar offers, the one with a higher down payment is viewed as a stronger offer. My realtor even said ...
29
votes
5answers
4k views

Why are residential investment properties owned by non-professional investors and not large corporations?

This question is relevant for Australia but I would think that it would apply to other countries too. I've noticed that nearly all residential investment properties are owned by non professional ...
28
votes
7answers
12k views

Why would a rational buyer offer to buy with no conditions precedent?

Assume that the Canadian Reddit commenter beneath is rational. I corrected typos. As an investor, I have a tactic where I only buy houses via the listing realtor, and do not use my own. Why? ...
27
votes
5answers
8k views

My father has passed away and I want to buy his home

My father has passed away and I want to buy his home. There is no mortgage left and I will be paying off my sister half of the house value. Do I need to get a new mortgage?
26
votes
7answers
8k views

Why do people use mortgages, when they could just pay for the house in full?

I would like your recommendation on whether you should buy a house with a mortgage, which you would pay as you go, or should you buy it in full.
26
votes
10answers
16k views

Is giving my girlfriend money for her mortgage closing costs and down payment considered fraud?

My girlfriend is in the process of buying a home. We're not married, common-law or otherwise. I was planning to help her pay for the closing costs and down payment, with my contribution being about $...
26
votes
16answers
10k views

How to best invest 90,000 EUR with zero knowledge in investing?

I have 90,000 EUR and difficulty figuring out what to do with it. This money is in a savings account with an interest rate of only 0.05%. Here in Netherlands, I pay around 600 EUR each year on this ...
25
votes
8answers
5k views

Does this sound like a great idea regarding being a landlord and starting a real estate empire?

I want to build a small empire of my own over time in real estate. I want to pay 20% for a house and rent it out for a small profit (hopefully make around 3 - 5k a year in profit) and then pay it off ...
25
votes
2answers
6k views

I cosigned on a house for my brother

I cosigned a mortgage for my brother 9 years ago. I was young and he convinced me that it would be good for my credit. Recently my credit dropped 70 points because he was 60 days late on the payment. ...
25
votes
10answers
4k views

Why is property investment good if properties de-valuate over time?

So I was reading that investing in property is a safe and solid investment (but low on return). This is based on how the prices rise e.g. a property price in the 1980's vs 1990's vs 2000's vs 2015. To ...
23
votes
3answers
4k views

Bequeathed condo left to three children. How to sell if one party disagrees?

As the title states, a condo was bequeathed to each of an old man's three children. None of the children originally lived in the condo, nor do they currently live there. Two of the children want to ...
22
votes
5answers
651 views

When is it better to rent and when is better buy in a certain property market?

I've been told the average rent for a house should be the house price, minus 3 zero's and that should be how much it should be a week, which I think works out to be about 5% of the house price per ...
22
votes
4answers
2k views

Is home renovation ever a good investment?

For years I was under the impression that renovating a home was an investment. However, when I look up return on investment for typical home renovation projects, it appears that even the most high-...
22
votes
6answers
5k views

Would it make sense to buy a rental property as an LLC and not in my own name?

I'm considering buying a rental property. Would it make sense forming an LLC and purchasing it in the name of my company, rather than owning it directly? Considerations: pros: I don't want my name ...
21
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 ...
20
votes
7answers
5k views

Replace old A/C before selling house?

tl;dr: would I get my money back if I replaced the leaky old A/C before I sell my house? The central air conditioner in my house is a little over 20 years old. I just had to pay $200 to add freon, ...
20
votes
5answers
16k 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 ...
20
votes
7answers
31k 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, ...
19
votes
7answers
2k views

Is Real Estate ever a BAD investment? If so, when?

Even in a bad market, over 30 years won't the value of Real Estate always go up? Is it always a sure bet? If not, what should an investor or buyer consider?
19
votes
8answers
7k views

Should I wait until I have a 20% down payment to buy a home?

With an FHA loan that only requires a 3.5% down payment, I'm able to buy a home right now and comfortably afford the monthly payments. However, I know that means I'll pay PMI and more interest over ...
19
votes
2answers
688 views

Is selling your house without an agent worth the hassle?

There have been numerous "for sale by owner" signs appearing recently. This seems like a convenient way to reduce the commission charged by Real Estate agents but I have heard that this is still a "...