All Forum Posts by: Bill B.

Not common. Never heard of it. BUT. A $100? If that’s not a typo who cares. If it only kicks in when there’s a major problem found you’re going to be arguing over $1,000’s. 

If they don’t negotiate if major problems are found. You can remind the seller they have disclose and problems your inspection finds to future buyers because now they know about it.  

@Ricky Si

Vegas buy and hold is like a poor man’s portland. Try to hold for free or close to it while your tenant pays off the loan. Anything you make will be tax free after depreciation. If you only get 7% annual appreciation the property should double 3 times by the time they pay it off for you. I don’t know how we support every house being a million dollars but I know my parents bought their house for $25k when I was a kid and it’s worth $300k now. That’s 3 and 1/2 doubles in 30 years. They thought $100k was insane money. Of course they also thought their $180 mortgage was pushing their finances. 

Their biggest advantage is the houses and yards and the weather are all nearly ideal for zero maintenance. And no state income tax. You could also do what I did with my MN property. Buy a property you would like to retire in someday. I try to think of it as 40x my 20% downpayment. :-)

Your realtors are going to get paid 5-6% of the sales price in commissions. Plus any title/transfer taxes/repairs/Hoa fees if there are any/etc. but count on the $6-$8,000 for the realtors. 

There is ZERO need for any software to determine how much more to send. I can’t believe anyone associated with rich dads would let their name be used with an obvious SCAM. You can send $1 extra or $100,000 extra. The bank will do all the math for you. 

If you want to cut your mortgage in half download any FREE amortization table and simply add the amount of principle being paid by the next month’s payment to your current payment. bingo. Job done. 

If she has a balance of $125k you better ask closer to $140k or she’ll have to come up with $10k or more out of pocket. 

That’s going to be a local question. What area/state are you in?

The reason I ask is I’ve seen 2 level homes that just have a few steps up to another level. Since you couldn’t do it with awheelchair it’s a 2 level home but it doesn’t have living space below it so it’s not a two story. On the other hand most ranch style houses in MN are called single story even if they have a basement. they are also sometimes called a split level home. 

It’s like the Midwest fourplex being called a 4flat in other areas. 

Vegas is also sellers market. (Prices up, rent up, population up, jobs up) I don’t think I’ve heard of a buyer’s market in years. Maybe rural/small town Midwest. (I spend some time in small towns on SD/MN border where prices just don’t change much and volume is tiny.)

I love the Ringkess calls. I can instantly block the numbers as I know it’s a sales call. Don’t have to waste time listening to the voicemail. 

So again. The mls should be free and realtors shouldn’t get paid.  Any other unicorn and rainbows requests?

What if the mls charged a flat 5% to be on their system and they gave a 2.5% commission to people who brought listings and 2.5% to people who brought a seller. 

People are already allowed to sell on eBay and craigslist and FSBO.com and I assume at least 100 sites, 1000's if you include auction sites. Do those people have to drop all fees too?

Maybe lawyers shouldn’t be allowed to charge fees. They’re discouraging justice by charging fees. And they defiantly have a monopoly. 

In the end.  File this under I don’t own an mls and don’t care what happens. It will either raise costs or eliminate an option. Suing them will not help home buyers or sellers. 

Yes. With rising interest rates and prices along with the new generation of buyers it will defiantly be harder to buy good rentals in the future. I see a lot of people getting scared out and never buying back in because they remember how good a deal they had in both price and interest rate.