All Forum Posts by: Jesse T.

Is buy and hold profitable in their target area/price range?

Good point that even the stock market isn't an efficient market.

Liquidity and transaction costs are big barriers to real estate coming close to a theoretical rational market.  Also the fact that every property is unique.  Then you have the government influence via tax policy and involvement in the mortgage market.

Maybe the art market is more irrational, but I think in comparison to most markets Real Estate will not be an efficient market.

Even the strictest occupancy laws will allow 3 adults in a 2 bedroom.  Unless there is a safety issue with using the living room for sleeping, it likely isn't a legal issue.

It would however concern me about how long the tenants will end up staying.  I can't see someone wanting to sleep in a living room for a year.  If the other 2 tenants can afford the place, it might not be a big deal to you.

Crowd funding does seem like an interesting option in Virginia.  It seems especially appealing in the areas near Washington DC where prices are often to high for one individual to invest without partners.

Does your company only offer investments in the GA?

I agree on vessel sinks.  I think loud back splashes will be the same way.

I think "fake" materials will gain in popularity if anything.  A lot of them are getting to a point where you get the look and to some degree feel of the simulated material with the practicality of the actual material.

I think SS appliances and granite counters will maintain some level of popularity long-term, because they last fairly well.  Porcelain/Ceramic tile has been that way, you can see it in a variety of eras of housing .  One big thing SS appliances have going for them is they don't automatically clash if you re-decorate or even replace and appliance with another color.  Day to day SS may be hard to keep clean, but it will be fairly shiny for an home viewing even if the appliance is fairly old.

I don't know that the open floor plan will go away, but I could see the general kitchen obsession being reduced on some properties.  To some degree this has happened with bathrooms.  While people still want nice bathrooms the jacuzzi tub is a lot less prevalent.  What could replace an open plan would be rooms that were easily configured.  I think there would be some technological advances and a lot of design work to do this well.  20 to 30 years from now how cool would it be to remotely configure your dining room if you have family coming over for dinner or create an open configuration for friends coming over to watch a football game?

Does the delay impact your plans with the property?

I think sending pictures and getting quotes from a couple junk removal services is the way to go.  The fastest closing would be if that amount is left in escrow. 

If your timeline isn't impacted significantly I would offer the seller the choice of reducing the price by the amount of a junk removal service or delaying closing until after the junk is removed.

Was trash removal covered in the offer contract?

 I agree on offering a digital application option.  Scanning/emailing is pretty easy on your end, but may be an inconvenience to the renters.  A physical application can be accepted in a variety of ways.  You can have it mailed to you, you can pick it up from them or you can meet up with them somewhere to get the application.

Do you own the property?  

If you don't I would look at one that is good at pricing properties in the target area as your agent.

Definitely consult an attorney.  

It seems his estate should be selling the house, whether it is to the girlfriend or a 3rd party.  Is their equity in the house?  It is a bit of a strange situation if there isn't equity in the house, but there are other assets in the estate.

 College students or parents subsidizing a recent graduate would make a lot of sense for this arrangement.  

A college student is a lot lower risk to overstay a pre-paid lease, although I would have the parents on the lease just in case.