Home Buying & Real Estate Thread

[you go boy]

I would rather put that extra 20k into a better remodeled house. Split over a 30 year mortgage thats what an extra 2k down payment?

i passed based on principal... I couldn't get over the fact I was paying 35k over list price for a condo.... 20k over list price was what I was willing to pay and even that's a lot... the seller bought the house in 2018 for 80k less than what it sold for yesterday....I told myself just go with the cheaper one which I already locked up and do my own renovations.... I'm sure it will be less than 35k to fix my place up....the condition now is not bad I just want it to look a certain way

also the place I already locked up is a 20 year mortgage and the more expensive place was 30 year which means higher APR and I'd be paying more interest as well

 

[ballinsam23]

Yep if it’s a 1 bedroom shouldn’t take more than 30k for a good full renovation. It’s just hard to find a contractor with a license that most condos require.

 

[you go boy]

my place is 2 bedrooms 2 full bathrooms... my plan before moving in is to paint the place, get granite counters for kitchen and hardwood floors for the bedrooms.... the bathrooms I'll do at a later time....the fixtures are great just need flooring and maybe replace the tub with a shower

 

[ballinsam23]

Floors, paint is the cheapest. Especially if you already have wood in place. Kitchen and bathroom is what run up the cost. Where in NJ if you don’t mind me asking?

 

[turbospartan]

Seeing a lot of MFH that I passed on years ago coming back to the market for 3-4x what they sold for and getting snapped up quick is breaking my heart. Should've been willing to take more risks. SMH.


...

Same here. There were some absolute steals even 2 years ago but now everyone is on that wave

 

[TheMurkShow]

Be cool if folks listed cities moving forward instead of having to ask. I'm looking to invest all over the country. All the post are mad interesting.

Up to 5 single fam homes owned through out Tx including the one we live in.
2 in Amarillo (both bought in the last 3 months) tenants within in a week. Easy money!
3 in Houston where we live inside the loop...more bag baby! Premo locations. Homestead we live just bought March is up 50K plus already.

Had a sixth that we were gonna keep which was a 16 door complex in sunnyside Houston. Wish I kept but wife didnt want anything to do with it. It was raw. ..one them gotta carry my pistol to collect cash rent joints. Several people killed in the complex through out the years. One of the dead I recently met and showed me his apartment, asking me to talk to father in law to fix it...had me shook for a few days. Dude was mad nice working for the city of Houston just trying to live. One the on time paying tenants. Father in law owned it for 20 years before he was supose to let us buy it. Her pops had been robbed numerous times at gunpoint. He's 82 and just got out the game with no fear. It was causing a riff between the wife and I so I flipped it as a wholesale property for a nice 6 figure bag. She was obviously worried about my safety. Happy wife happy life!

Looking for multi family at the moment. 20+ units. Can't waiting until LA market burst so we can swoop in. I've a got saying which is the story of life usually when we toasting with the homies... goes like this, "From section 8, to the motha F*** penthouse. "

Stay buying property gents. Lets eat and get this paper.

 

[NToweG]

Be cool if folks listed cities moving forward instead of having to ask. I'm looking to invest all over the country. All the post are mad interesting.

Up to 5 single fam homes owned through out Tx including the one we live in.
2 in Amarillo (both bought in the last 3 months) tenants within in a week. Easy money!
3 in Houston where we live inside the loop...more bag baby! Premo locations. Homestead we live just bought March is up 50K plus already.

Had a sixth that we were gonna keep which was a 16 door complex in sunnyside Houston. Wish I kept but wife didnt want anything to do with it. It was raw. ..one them gotta carry my pistol to collect cash rent joints. Several people killed in the complex through out the years. One of the dead I recently met and showed me his apartment, asking me to talk to father in law to fix it...had me shook for a few days. Dude was mad nice working for the city of Houston just trying to live. One the on time paying tenants. Father in law owned it for 20 years before he was supose to let us buy it. It was causing a riff between the wife and I so I flipped it as a wholesale property for a nice 6 figure bag.

Looking for multi family at the moment. 20+ units. Can't waiting until LA market burst so we can swoop in. I've a got saying which is the story of life usually when we toasting with the homies... goes like this, "From section 8, to the motha F*** penthouse. "

Stay buying property gents. Lets eat and get this paper.

How often do you find yourself addressing repairs? I'm looking at some out of state properties but dont want to have to be there so often...

 

[B Sox]

How often do you find yourself addressing repairs? I'm looking at some out of state properties but dont want to have to be there so often...

Get a property manager.

 

[TheMurkShow]

In Houston

Be cool if folks listed cities moving forward instead of having to ask. I'm looking to invest all over the country. All the post are mad interesting.

Up to 5 single fam homes owned through out Tx including the one we live in.
2 in Amarillo (both bought in the last 3 months) tenants within in a week. Easy money!
3 in Houston where we live inside the loop...more bag baby! Premo locations. Homestead we live just bought March is up 50K plus already.

Had a sixth that we were gonna keep which was a 16 door complex in sunnyside Houston. Wish I kept but wife didnt want anything to do with it. It was raw. ..one them gotta carry my pistol to collect cash rent joints. Several people killed in the complex through out the years. One of the dead I recently met and showed me his apartment, asking me to talk to father in law to fix it...had me shook for a few days. Dude was mad nice working for the city of Houston just trying to live. One the on time paying tenants. Father in law owned it for 20 years before he was supose to let us buy it. Her pops had been robbed numerous times at gunpoint. He's 82 and just got out the game with no fear. It was causing a riff between the wife and I so I flipped it as a wholesale property for a nice 6 figure bag. She was obviously worried about my safety. Happy wife happy life!

Looking for multi family at the moment. 20+ units. Can't waiting until LA market burst so we can swoop in. I've a got saying which is the story of life usually when we toasting with the homies... goes like this, "From section 8, to the motha F*** penthouse. "

Stay buying property gents. Lets eat and get this paper.

I do not have a property manager for Houston properties since I live here. Moved around to Chicago and others cities for the last 7 years and I didnt have one then either. My only townhouse when we were bouncing around cities was built in 2007, so we didnt have many issues. Last few years some have come up.

The two in Amarillo were built in 2020 and 2018...Joints are virtually brand new and in excellent shape. Forgot to mention I purchased them sight unseen. My mans connected with a real good realty down there who I trust now for purchasing. I also had a seperate realtor for renting those units in Amarillo. She just moved to Dallas but connected me with a chick she highly recommended. I'll also use her on an ad hoc basis when problems arise for the Amarillo properties. I do not plan on hiring a property manager for any of these single family units anytime soon. I'll probably never visit Amarillo. lol.

 

[yogetoffmykickz]

Eviction Laws in SoCal are so incredibly favored towards tenants. It's crazy... A friend of mine has a tenant that owes him 18k.. pre-covid, it would be a nightmare to get her evicted... Now with this eviction moratorium, forget about it.!

 

[NToweG]

In Houston



I do not have a property manager for Houston properties since I live here. Moved around to Chicago and others cities for the last 7 years and I didnt have one then either. My only townhouse when we were bouncing around cities was built in 2007, so we didnt have many issues. Last few years some have come up.

The two in Amarillo were built in 2020 and 2018...Joints are virtually brand new and in excellent shape. Forgot to mention I purchased them sight unseen. My mans connected with a real good realty down there who I trust now for purchasing. I also had a seperate realtor for renting those units in Amarillo. She just moved to Dallas but connected me with a chick she highly recommended. I'll also use her on an ad hoc basis when problems arise for the Amarillo properties. I do not plan on hiring a property manager for any of these single family units anytime soon. I'll probably never visit Amarillo. lol.

thanks a million

 

[edshoecator]

Eviction Laws in SoCal are so incredibly favored towards tenants. It's crazy... A friend of mine has a tenant that owes him 18k.. pre-covid, it would be a nightmare to get her evicted... Now with this eviction moratorium, forget about it.!

I had to pay ~10k to get my old tenant to leave. That wasn’t including the back rent and damages he left.

Are homes being bought up by LLCs in other parts of the country too? I haven’t been able to win a bid in 6 years here in L.A. after close it’s always the same song and dance. Demo and redundant white black redesign by the same group of guys.

 

[jape]

the market is starting to normalize here in Houston
homes aren’t flying anymore and the prices are slowly dropping

 

[TheMurkShow]

the market is starting to normalize here in Houston
homes aren’t flying anymore and the prices are slowly dropping

It’s been pretty steady. Depends on what part of town you are in. In the loop is hot. Near good schools are hot. Have my tx realty license on the side although I’m not very active, still keep in touch. But I’m getting back in the swing of things. Texas in general is booming. Folks buying cash from east and west coast.

Just signed on with EXP. Holler at me if you need a realtor or even advice.

 

[B Sox]

Never really had a yard before. Anybody got lawnmower recs lol?

 

[yogetoffmykickz]

Never really had a yard before. Anybody got lawnmower recs lol?

Wow... Nice space man. Congrats.!

First thing I'm doing is setting up a maca between two columns and cracking open an ice cold beer

 

[2163O1baller90]

Never really had a yard before. Anybody got lawnmower recs lol?

Thats a nice deck

 

[jrp44]

Never really had a yard before. Anybody got lawnmower recs lol?

Awesome yard man. That deck is nice as hell

 

[206to813]

Be cool if folks listed cities moving forward instead of having to ask. I'm looking to invest all over the country. All the post are mad interesting.

Up to 5 single fam homes owned through out Tx including the one we live in.
2 in Amarillo (both bought in the last 3 months) tenants within in a week. Easy money!
3 in Houston where we live inside the loop...more bag baby! Premo locations. Homestead we live just bought March is up 50K plus already.

Had a sixth that we were gonna keep which was a 16 door complex in sunnyside Houston. Wish I kept but wife didnt want anything to do with it. It was raw. ..one them gotta carry my pistol to collect cash rent joints. Several people killed in the complex through out the years. One of the dead I recently met and showed me his apartment, asking me to talk to father in law to fix it...had me shook for a few days. Dude was mad nice working for the city of Houston just trying to live. One the on time paying tenants. Father in law owned it for 20 years before he was supose to let us buy it. Her pops had been robbed numerous times at gunpoint. He's 82 and just got out the game with no fear. It was causing a riff between the wife and I so I flipped it as a wholesale property for a nice 6 figure bag. She was obviously worried about my safety. Happy wife happy life!

Looking for multi family at the moment. 20+ units. Can't waiting until LA market burst so we can swoop in. I've a got saying which is the story of life usually when we toasting with the homies... goes like this, "From section 8, to the motha F*** penthouse. "

Stay buying property gents. Lets eat and get this paper.

F that 16 door man, you did the right thing selling it.

 

[206to813]

Never really had a yard before. Anybody got lawnmower recs lol?

That’s a big yard, you def need a riding mower IMO. Otherwise you’d be out there 2-3 hours every weekend and if the weather doesn’t cooperate or you’re busy, gotta figure out time to do it during the week. My yard is really big too, it be hot as F in Florida and I have kids and a life, so $105/month to outsource is a no brainer.

 

[mr jordan04]

I had to pay ~10k to get my old tenant to leave. That wasn’t including the back rent and damages he left.

Are homes being bought up by LLCs in other parts of the country too? I haven’t been able to win a bid in 6 years here in L.A. after close it’s always the same song and dance. Demo and redundant white black redesign by the same group of guys.

Yup, Cali is super pro-renter. Even before pandemic, I’ve heard of people living rent free for a year. They have a ton of protection/laws in their favor.
I think there’s a property rental company or some big shot developers suing the State of CA for $20 million dollars in “lost wages” due to their eviction memorandum.

 

[moderndarwin]

That’s the only reason I don’t want to invest in real estate. The effort of repairs and of dealing with tenants. And stock market returns are so good.

 

[you go boy]

ya I don't think I can buy property to rent out.... too many horror stories of bad tenants and not being able to evict them...air bnb maybe if I had the extra money to have an extra place to rent out for a few nights but that's it...

 

[wallstreetnke]

Is this in Franklin or brentwood?

Franklin area.

 

[206to813]

That’s the only reason I don’t want to invest in real estate. The effort of repairs and of dealing with tenants. And stock market returns are so good.

I feel good having investments in both…if you consider the average returns in the stock market around 10% then real estate has appeal… but yeah when stock market returns are 30-50% or more, you can’t beat that, considering the ease of investing and liquidity. I just have one rental house that I bought new in 2019 and it’s been the easiest, stress free $. If the crib is good to go and you get an ideal tenant, it’s lovely. I kind of view my own house as a real estate “investment” so for me I’m focusing more on the stock market. Definitely plan to buy another property or two eventually, but I’m in no hurry with prices having ran up so quickly.