Newsflash: First investment home. Wood panelling question. (AU)

Hello I just bought my first investment home. 1980s 4 bedroom 2 bathroom 1,985 sqft home. Would it be worth spending some coin to remove wood panelling covering 90% of the house. Look like some dude had a fetish with everything wooden. Also would adding solar panels to the house bring a little bit income.

Read more at https://www.reddit.com/r/RealEstate/comments/79zbb9/first_investment_home_wood_panelling_question_au/?utm_source=ifttt

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Newsflash: Has anyone found good lenders for HELOCs on a rental property?

Hi, we have some rental properties (townhomes) in Seattle and all have a lot of equity, ~50%. Looking to pull some cash out.

Read more at https://www.reddit.com/r/RealEstate/comments/79zc6l/has_anyone_found_good_lenders_for_helocs_on_a/?utm_source=ifttt

New Story Just Out: Trump’s Nominee To Be The Next Head Of NASA Prepares For Senate Hearing

Yet another interesting headline in the world of health and well-being. Trump’s Nominee To Be The Next Head Of NASA Prepares For Senate Hearing
President Trump’s pick for the next head of NASA, Rep. Jim Bridenstine, R-Okla., will have his Senate nomination hearing on Wednesday. He’s been controversial because of his views on climate change.

Read the full story here

Newsflash: Using Realtor Friend, No Longer Want to Use Them and Need Advice

Hi everyone! This may not be the best subreddit for my issue but thought I would give it a try since we are first-time home buyers.Well I will try to be short and to the point. My wife and I have been looking for a house and one of our good friends suggested us using their good friend and realtor that helped them find a house. We typically never mix business with family or friends (or in this case a friend of a friend) but they insisted and figured that it might be a good connection.Fast forward, this realtor has been extremely flaky, does not return calls, or texts (they typically text). This person will say that they will call us the following day but does not call, we in turn have to text or call the realtor ourselves. We feel that he is not promptly calling sellers when he says he will. It has been overall a bad experience for us as we try to purchase our first home. At times it seems like we are actually bothering him. Since this is a friend of a friend we are more worried about our actual friend becoming upset if we let the realtor go. But it is getting to a point where we would have not continued to work with this person if it were different circumstances. It almost seems like he doesn’t care about us, or that our business is not as important. Basically, it feels like since he thinks were friends of the person who introduced him that we wont get upset at him or get rid of him and is already considering this as a sale/commission. It also feels that we are not important since we are not buying an extremely expensive home. Were currently looking to buy a home between ($200-250k). We are younger so that may also be the case.I suggested to my wife that we tell the realtor that it seems like he has been extremely busy and distracted. We would then tell him that were not getting the level of attention that we would like.What is my best method or plan moving forward? What should we tell him in order to not come across as blunt and insensitive assholes. We really just do not want this to come back on us being the bad guys.Will be the last time we ever get into a business venture with friends or family.Thanks in advance!

Read more at https://www.reddit.com/r/RealEstate/comments/79yshg/using_realtor_friend_no_longer_want_to_use_them/?utm_source=ifttt

Newsflash: Home was built on two lots; the bank split the lots when I bought a year ago. I own all of the house – but one septic tank is on the lot that someone else bought [Ohio]

Long story short, the original homeowners owned two adjacent lots. The ownership of the property transferred to the bank (the seller), and the bank split the two lots so they could sell them. The home was built entirely on the lot which I purchased. But the home has a 2nd septic tank that is on the other lot, and a developer purchased that lot because they want to build a new house on it. The location of this 2nd tank wasn’t disclosed in the sale process, but the seller received inspection reports for each tank every year. The sale docs just say that there’s a septic tank rather than a sewage hookup; they didn’t say that there were multiple tanks or which parcel they are on.So, someone else owns that 2nd lot and they want to build a new house on it, but I believe I have an implied easement by prior use, according to https://www.justia.com/real-estate/docs/easements.htmlI sympathize with the neighbor, but they have title insurance that will protect them from financial loss. Their biggest loss would be due to delays because they’ve already contracted out the construction work – they are very, very happy that I’m proactive on this. I’m worried that I may face significant costs if I need to install an additional septic system under the house I just bought, or I may pay a small fortune for a new utility hookup, plus whatever amount to change the plumbing as needed. I believe a court would recognize my implied easement, but the developer would lose far more money waiting for that result than they would from trying to buy me out. I think the seller (the bank) should have recognized the issue before selling, and they could have solved it by making a written easement, or officially abandoning or moving the tank, or whatever else.My biggest question is: who are my main contacts to resolve this issue? My title company doesn’t want to get involved in the mess, and I’m currently going through my closing docs to see exactly what they cover. My mortgage lender has a title insurance policy but I’m double-checking to see if I purchased the owner’s policy as well. It would be nice to have them navigate the legal aspects, but I may need to do a lot of that legwork myself. And is there a process for handling situations like this, or any court history that I could check to see how it was handled in similar cases?I got a very, very rough estimate of $50,000 if I need to install a new septic tank, and when I asked for an estimate for the utility hookup I was basically told “don’t ask unless it is literally the only option. It’s that expensive.”

Read more at https://www.reddit.com/r/RealEstate/comments/79y7lg/home_was_built_on_two_lots_the_bank_split_the/?utm_source=ifttt

New Story Just Out: How Climate Change Is Already Affecting Health, Spreading Disease

Yet another interesting headline in the world of health and well-being. How Climate Change Is Already Affecting Health, Spreading Disease
For decades, scientists have predicted how climate change will hurt people’s health. Now an international team of researchers say they’re already seeing some of the damage.

Read the full story here

Newsflash: [IN] 60 Days Left in Right of Redemption on REO Property: Should I close? Ask for Money?

I bought a REO house at an auction for $75,000. I put the EMD down and it has been around 33 days now, and the Title Company says that there were IRS tax liens on the house and the IRS has until Jan 6 to redeem the house back. The lien is for $30,000 but apparently, it is wiped out at the foreclosure auction.Where does this put me as a landlord?Apparently, I may lose out on any improvements I may make between now and Jan 6. It also puts me in a contractually awkward situation if prospective tenants find out if the IRS decides to reclaim the property. I know that I will be reimbursed any maintenance fees and my purchase price if that were the case (+6% interest).What are my options? Can I renegotiate the price of the house? The contract says it should close in 45 days. Does the Right of Redemption cloud the title in any way (between now and Jan 6?).

Read more at https://www.reddit.com/r/RealEstate/comments/79x92s/in_60_days_left_in_right_of_redemption_on_reo/?utm_source=ifttt

Newsflash: Do Agents or Agencies Advertise? (SA)

Basically, I’d just like to know if it’s the responsibility of the agent of a real estate agency to advertise or if it’s the agency itself that pays for advertising.For example, does the agent pay for and distribute flyers, or the agency?Thanks in advance.

Read more at https://www.reddit.com/r/RealEstate/comments/79x9e8/do_agents_or_agencies_advertise_sa/?utm_source=ifttt

Newsflash: Purchasing a home with an Equity Loan (California)

Hi all!Not sure if this is the right place for this but I am asking a question on behalf of my parents. They are wanting to downsize and sell their home which is worth $1.5mil at this time. There is about $600,000 left on the Mortgage but they would like to use the remaining money to buy a smaller $700,000 home and have to pay zero mortgage. The contingency put in place is making it difficult for buyers to accept offers for obvious reasons. They have discussed the possibility of pulling a $700,000 Equity loan from a commercial property they own and rent out, this building is fully paid off. The new plan is to pull the Loan, put an offer on a new house, buy it, then when the previous home sells pay off the equity loan. My main concern here is, will they have to pay taxes from the income they make on the previous home or is there a way to avoid taxes and simply put all the money back into the equity loan?

Read more at https://www.reddit.com/r/RealEstate/comments/79x6qj/purchasing_a_home_with_an_equity_loan_california/?utm_source=ifttt