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Arsenic Lupin posted:This is just the ones I watch; I'm sure there are more. hawk mods the HCH forum. he knew what he was getting into with home ownership  but those are good threads.
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Aug 20, 2023 20:51
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It's almost my second house.  Haven't sold the old one yet as we have some necessary and nice to have stuff we want to do before we want to move it. Namely, the carpet from 1976 has got to GO.
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Aug 20, 2023 21:02
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Oh nice, roll for luck to see if you find nice hardwood floors underneath
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Aug 20, 2023 21:07
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H110Hawk posted:Namely, the carpet from 1976 has got to GO. Unfortunately I already know what that's gonna smell like when it gets pulled up. Good thing everyone know about and has easy access to N95/KN95s now!
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Aug 20, 2023 21:07
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QuarkJets posted:Oh nice, roll for luck to see if you find nice hardwood floors underneath 1976 house. I'm just hoping the cement slab foundation isn't 10% dog piss by volume. Otherwise I'm putting enzyme cleaner in a ultrasonic humidifier and coming back in a week. Motronic posted:Unfortunately I already know what that's gonna smell like when it gets pulled up. Good thing everyone know about and has easy access to N95/KN95s now! Good lord the house smells... old. I will not be attending when whomever I hire to rip it out does so. And I use a N100 or P100 half-face 3m respirator when I do gnarly work. It's great stuff. Speaking of things I was forbidden from using to make sure the garage doesn't flood during the storms. H110Hawk fucked around with this message at 21:19 on Aug 20, 2023 |
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Aug 20, 2023 21:15
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H110Hawk posted:Good lord the house smells... old. I will not be attending when whomever I hire to rip it out does so. Get that carpet out and 75% of your smell issues are likely to be gone. Lots of vacuuming and TSP, maybe enzyme cleaner will do the rest. I kinda love that part. It's near immediate gratification to turn something around like that. Then you're ready for paint and you get to make it look fresh and well maintained.
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Aug 20, 2023 21:19
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Motronic posted:Get that carpet out and 75% of your smell issues are likely to be gone. Lots of vacuuming and TSP, maybe enzyme cleaner will do the rest. Yup. Precisely. Roll up the carpet, scrub the walls, kilz primer + paint, and likely going to R&R as much of the ductwork as I can. Two of them have noticeable... funks. Thankfully the two right on the same wall as the garage where the evap and FAU are, as well as some obvious misc holes and condensate drain and some drips of water damage (garage side.) I have two HVAC contractors coming next week to bid it out. A plumber coming to fix the sewer lateral cleanout situation (it's a "T" not a cleanout, getting it swapped for a bidirectional U), then going to have their sub come jet it. Also all the toilets suck. And...
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Aug 20, 2023 21:24
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And you don't have to move in RIGHT NOW so everything is easier. You've learned well.
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Aug 20, 2023 21:35
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Motronic posted:And you don't have to move in RIGHT NOW so everything is easier. You've learned well. More we are insanely fortunate to have the savings and ability to float 2 houses for a few months while we do it all. But yes. Not having to give a drat about noise and dust and smell while the work is done makes scheduling so much easier.
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Aug 20, 2023 21:37
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Arsenic Lupin posted:This is just the ones I watch; I'm sure there are more. I've only just graduated to the homeowners thread last year and had no idea these existed. Thank you!
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Aug 22, 2023 03:33
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Submarine Sandpaper posted:You can shoot the meat with the gun. Load pepper bullets https://mannkitchen.com/products/the-original-pepper-cannon-pepper-mill
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Aug 23, 2023 19:33
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So this is kind of related to home buying so I figure I'd ask here. Through my county tax website having the "feature" of showing you nearby properties tax info when you look up your own, I've discovered that one of my neighbors, who is an older but not elderly woman, is behind on her property taxes. She is disabled and does not have much if any income, and as far as I know, no children. Being disabled and low income, her house is also not in great shape, but it belonged to her mother and I think she's doing the best she can. I try to help with landscaping where I can. I'm worried that when she can no longer live in her home for one reason or another, it will be sold to an "investor" who will do an incredibly lovely job flipping it, or even worse turn it into a low-income rental as it is. So back around to the back taxes: I'm wondering if she would agree, or if it's even possible, to have a contract written up where I can pay her property taxes for her until she dies or has to move, and then I could take possession of the property afterwards. I would then have it renovated and then sell it for market value, which would keep it out of the reach of slumlords and also prevent it from being turned into a soulless flip. Is this a crazy idea? Has anyone ever heard of anything like this? I'd have to crunch a lot of numbers to see if the deal even makes sense for me, but I figure I would ask here because all I can find on google is people trying to pay other peoples delinquent property taxes to try and steal their homes out from under them...
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Aug 24, 2023 06:17
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Why are you sticking your nose in here where it clearly doesn’t belong and the only positive outcome from a ton of effort, complexity, and the risk of insulting your neighbor is that you might not have to live by filthy poor renters?
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Aug 24, 2023 12:25
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SpartanIvy posted:So this is kind of related to home buying so I figure I'd ask here. I'm gong to assume the best of you and that you are coming at this from truly altruistic motivations, but the bolded part above sounds predatory as gently caress. It's basically you getting someone's house for a fraction of the fair market value. Don't get me wrong, there's the possibility for you to get hosed too. She could always live to 110 and you could be stuck paying her property taxes for half a century. IIRC this is similar to a loan scheme that is/was popular in France and generally proved profitable but had some notable outliers like one lady who did, in fact live long enough to become the oldest person in France/on earth/whatever. If you want to help her, help her. If you want to make an offer to buy her house, make an offer to buy her house. But this whole thing just sounds like a bad idea and frankly is wading into some scummy waters.
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Aug 24, 2023 12:40
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Assuming the best of intentions, I think there’s a way to do it that is good for her and the neighborhood and for you, but it would involve buying the house now and an extended/indefinite rent-back. Talk to a real estate lawyer first. And she should talk to a different real estate lawyer. Note: she might get extra pissed/embarrassed if you approach her with this idea. — The French reverse mortgage: https://www.investopedia.com/terms/v/viager.asp There is one of those in our neighborhood; a house that should be valued at $1.8M that was listed for $800k, with the caveat that only investors could buy it and that it would be occupied for the foreseeable future. So it is possible in America, but extremely niche (and the listing was eventually removed without a sale, as far as I can tell)
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Aug 24, 2023 13:13
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Yeah I'm not going to type up every combination of possible funds because there would be a lot of combinations and I doubt I've thought of them all but it would be at least taxes and probably plus reduced fair market value to make it worth the risk. Although if I'm paying the taxes for 20 or 30 years, I imagine the house will basically be worthless from its deterioration at that point. If it burns down or gets taken away in a tornado it would also be worth considerably less. I'm just curious if I should even go through the thought process and/or contacting a real estate lawyer. Edit: It's probably a bad idea. I don't want to be a land lord and it sounds too risky. SpartanIvy fucked around with this message at 13:31 on Aug 24, 2023 |
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Aug 24, 2023 13:25
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SpartanIvy posted:Yeah I'm not going to type up every combination of possible funds because there would be a lot of combinations and I doubt I've thought of them all but it would be at least taxes and probably plus reduced fair market value to make it worth the risk. Although if I'm paying the taxes for 20 or 30 years, I imagine the house will basically be worthless from its deterioration at that point. If it burns down or gets taken away in a tornado it would also be worth considerably less. My two cents? No. If the place is getting run down and you want to help an elderly disabled lady, then walk over and politely mention how you noticed her gutters are falling off or whatever and offer to fix it. Or offer to have someone come over and do it if it's not something you can handle but you're still wanting to see her living situation get better and can afford that. If you're unable or unwilling to just help? I'd keep your nose out. Past that and what it really is is an investment opportunity and honestly there are less risky ways to invest your cash.
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Aug 24, 2023 13:31
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SpartanIvy posted:So this is kind of related to home buying so I figure I'd ask here. Hey pauzible is back!
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Aug 24, 2023 14:10
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There is a specific type of purchase that is basically what you describe. In California at least there is a specific type of title for it (or something, I don't know the specifics) that is basically a purchase with lifetime occupancy. I don't believe that you become a landlord in that position. You would want her to hire an attorney to sign off on it otherwise it could be contested later potentially if someone can argue her mental capacity or undue influence (elder abuse.) I would make sure her mom isn't still alive. My friends grandma lived to infinity before she finally kicked it.
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Aug 24, 2023 17:25
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H110Hawk posted:There is a specific type of purchase that is basically what you describe. In California at least there is a specific type of title for it (or something, I don't know the specifics) Life tenancy with right of survivorship. This would be quite an interesting and seemingly predatory way to use it.
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Aug 24, 2023 17:45
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There's also the reverse mortgage, which might be an option for the lady if she owns the house outright. Also even if the house itself rots into nothing, the property will probably still have value, so please don't delude yourself into thinking you'd be doing a kindly thing by presuming that you will simultaneously be helping a lady by paying her taxes, and also watching her house crumble to dust around her as she lives in such complete squalor that the property is literally worthless the day she finally dies. If you'd like to make friends with a struggling lady who needs help, do so. If you'd like to offer her help, just ask her what you can help with. If you think she's going to lose her house and you want to help her not lose her house, you can give her monetary gifts with no strings attached. If she needs a loan or some kind of mortgage property she should get that from a bank, not you.
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Aug 24, 2023 17:49
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Motronic posted:Life tenancy with right of survivorship. This would be quite an interesting and seemingly predatory way to use it. Yup. I mean it's how some of the shadiest reverse mortgage style companies do it. Again, I would refuse unless she has counsel. I'm assuming the best here and the only other option for her is a forced tax auction and being destitute in a Medicare nursing home. There is a good chance she will say no without you purchasing it for appraised value. Or something more complicated than that which nets her greater benefit.
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Aug 24, 2023 17:51
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Money is the root of all evil
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Aug 24, 2023 17:58
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Epitope posted:Money is the root of all evil Pretty sure it's Tom Selleck.
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Aug 24, 2023 18:01
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Money is the root of Tom Selleck?
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Aug 24, 2023 18:11
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I found my city's tax foreclosure page so I'll just keep an eye on it and if the house shows up I'll bid on it there, the ethical way. I'll also save my money and be prepared to make a cash offer if/when she decides to sell.
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Aug 24, 2023 19:18
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Selling your house on the off chance of nightmare neighbors seems easier and cheaper than buying a second house just in case the poors invade
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Aug 24, 2023 20:01
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Inept posted:Selling your house on the off chance of nightmare neighbors seems easier and cheaper than buying a second house just in case the poors invade Buying a ~$100K house is cheaper and easier than selling and rebuying a different $200K house which I have made significant improvements in since moving in. Not all houses are equal but many are priced like they are. The rewiring, replumbing, reroofing, and reinsulating I've done will not return their value if I sold my house, and I will never find an equally improved house on the market. (USER WAS PUT ON PROBATION FOR THIS POST) SpartanIvy fucked around with this message at 21:18 on Aug 24, 2023 |
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Aug 24, 2023 21:10
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Man that’s some NIMBY poo poo if I’ve ever seen it. Live your life dude and just stop worrying about what everyone else around you is doing.
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Aug 24, 2023 21:41
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Seriously OP are you a HOA president or something
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Aug 24, 2023 21:45
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I had a great experience renting for decades, mostly because I rented from people like what SpartanIvy appears to aspire to be. Own one property near their own, cares, all that. Still, "I will prevent investors ruining this by becoming an investor" is, ah, dicey sounding
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Aug 24, 2023 21:54
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SpartanIvy posted:The poors are already there. I'm trying to prevent slumlords and careless flippers. let's stop gross-posting about poors, I mean, YOUR NEIGHBORS, and get the thread back on track with house-buying q&a
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Aug 24, 2023 22:36
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Epitope posted:I had a great experience renting for decades, mostly because I rented from people like what SpartanIvy appears to aspire to be. Own one property near their own, cares, all that. Still, "I will prevent investors ruining this by becoming an investor" is, ah, dicey sounding yeah, that said the concept that you care about your neighborhood and are considering buying another house in the area to be a GOOD steward... ok, fine. fair game, even good intentions. but perhaps we can avoid pooping all over people in unfortunate positions while discussing it.
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Aug 24, 2023 22:39
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pmchem posted:let's stop gross-posting about poors, I mean, YOUR NEIGHBORS, and get the thread back on track with house-buying q&a I will start us off, then: Should I buy house? y/n? Edit: Nevermind; I have been informed that I am moving soon
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Aug 24, 2023 23:52
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To get this thread on track: considering buying a home right now. I used to own one but had to move and due to timing made out with some equity after the sale so that was nice. I'm in a city I love so my partner and I are thinking of buying a home. We are in Pittsburgh where housing is relatively affordable. Based on current rates it looks like we can afford around 350k. Since I haven't bought in the past seven years or so, what has changed since then? I have a friend who is a realtor so we are going to use him. Right now we have 30k for a down payment. Are there any lenders that are currently recommended or am I just going to be trying to price out through a bunch of applications? None of this is fresh to me so any tips I gladly welcome.
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Aug 25, 2023 16:55
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I used a mortgage broker and it was dynamite. She did all the work to find the best rates and rules, and she had access to many more banks.
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Aug 25, 2023 17:06
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To follow on that, do mortgage brokers offer even more value now that rates are much higher? I didn't use one back in the 3% rates days because lenders were offering me similar rates across the board.
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Aug 25, 2023 17:10
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A good realtor will be able to refer you to lenders they like. Seconding the mortgage broker recommendation, I've used one multiple times and it's been worthwhile. Having less than 10% down seems concerning to me. Will you also have adequate savings to address immediate maintenance and repair needs?
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Aug 25, 2023 17:11
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UnleashedDad posted:350k. Do you have other money for inspections, closing costs, moving expenses, emergencies after the fact also? Because that's a really concerning set of numbers right there.
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Aug 25, 2023 17:14
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I have an additional 15k set aside for emergencies and whatnot, 30k is what I'm ok with departing with. We could also probably ask our families if they can spare a few dimes but I don't want to go that route at all. We are both gainfully employed grossing 150k together in industries that are doing well in case you also need that information. I could get paid more but being WFH full time doesn't have me chomping at the bit unless it is another 20-30k. This may change though since I am fairly in demand in this city (via recruiters from Linkedin), I just don't want to work in an office again unless the money is serious. Based on calculations even if we max out at 350k it would be about 1/3 of our net, which as far as I'm aware is about where you'd want to be at max.
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Aug 25, 2023 17:33
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