Real Estate

Does anyone know anything about Mini realestate. I was told that a husband and wife both took a realestate course and go around posting and selling vacant property. They also both are doing a travel agency from home. I was told that there is such good $ in it that they both quit there real jobs and are making around 500k a year anyone know how to get in to this.

I can’t say that I know anything about mini real estate, but after having been in the business (real estate) for more than 10 years on the lending side, I have seen and heard just about everything.

People cannot post and sell vacant property without owning the property – it is IMPOSSIBLE for someone to sell something that does not physically belong to them, that is what title researching is for. There is a little thing called mortgage fraud and it will send you to jail for a LONG LONG time.

I’ve seen recently too an informercial about bying up property at tax sales – you can do this, but not as easily as this informercial would like for you to think.

There is no such thing as a get rich quick scheme, if there were don’t you think EVERYONE would be rich?

Keep your nose to the grindstone and save, if you have a bit of extra money invest it in a short term CD with a high yield.

Take it from me, the real estate market is going soft because interest rates have been going up, and people aren’t buying anymore, or refinancing. Defaults are at all time highs, mostly because people bought too much of a house on an Interest Only fixed rate (5 years or less), or even worse on an ARM (Adjustable Rate Mortgage) and now they can’t afford the new payment.

-Em

I am considering this career, however, it will be totally new experience for me. I just don’t know which field to start my training in, I want a field which can have longevity.

Broker, sales people work for you !
You get a percentage of their sales.

You see all this, sell on ebay, buy realestate, bla bla bla stuff on TV. Well whats the truth. How can I make a good living and still work from home.

most of that crap is a scam

my brother is repairing one an he dosnt know wehat hes doing the other one my other brother is gona buy taxes an ins an utilitys are being payed out of the estate an neither house was listed yet. there was enough money from the stocks an ins that was cashed in an put in a bank acct to hire the repairs i get no imfo on any of the bill shouldnt i have been notifyed about all repairs an shouldnt these houses been listed in realestate by now what can i do the money is being wasted because its not being handled properly.

If your brother was appointed as (and has been certified by a probate court as) the official executor for your mother’s estate then there will have to be a final accounting to the probate court in order to make a final judgement as to the distribution of assets in the estate. That does not mean that your brother has to get your permission or even inform you of every penny he spends in order to, say, prepare property for sale by the estate in order to convert the property into a cash asset of the estate. Different states do have some exceptions regarding claims of bad faith expenditure claims against an executor(s). The best thing to do is to consult with an attorney who is experienced in probate matters. If you challenge your brother’s handling of your mother’s estate, then you *must* make sure that there is no clause in her will regarding challenges by anyone named as a receipient of property from her estate. Some people will add such a clause to the effect that will eliminate your rights to any of her estate if you file a challenge. Best to consult with an experienced attorney.

I’m planning on moving to San Anotnio to renevate and sell houses and keep some of them for rentals. Does anyone have some info that leed me in the right direction? Also How is it living in SAn Antonio?

Hi Jessica, I live in San Antonio and the real estate is cooling off but not experiencing the drop in real estate market like in Dallas and other cities. People will say "NORTHSIDE! NORTHSIDE! NORTHSIDE!" but I think it’s a overbuilt market that is very susceptible to the overall national downturn in real estate. There are actually some great fixer uppers in the Southeast side. Any neighborhood along I37 south of Southcross out towards Military Drive. Good deals to be made down there. I also suggest checking out neighborhoods in the NOrth Central area. That would be north of downtown, East of I-10 but West of Hwy 281 and no farther North than about Basse Rd.

Also check out www.sareia.com

It’s the website for San Antonio Real Estate Investor Association. It’s basically a business association catered to people like you (and hopefully me one day).

Good luck. I love living in SA. I’ve lived in other towns but San Antonio is my home.

nope

Ok, so I know I am…I’m the one who broke it. The thing is, it is a flowery pattern glass. I broke the small window pane, at the bottom. There is a larger one above it, still perfectly fine. By law I have to fit safety glass in, and it doesn’t come in the old original pattern. The realestate said I’d have to pay to fit new glass for the unbroken top piece as well, so they both match.
Does that seem right?

Yes, you want the door to look decent.

You may be able to have a piece crafted, do not assume you need tempered glass, you usually do not on a framed door. If you are within 5 feet of stairs, yes, but otherwise check.

You could become an assistant to an agent. Agents are independant contractors, and are therefore not employess that recive standard paychecks. I’m sure your broker wouldn’t mind holding you commission checks and cutting them up weekly. I know I wouldn’t mind. I’d happily put your earnings into an intrest bearing accout and cut you a draft from it every week. You make what money you earn, you are after all a sales person. Try stepping up your selling a bit, you’ll get morre that way than you can on any weekly pay job. Or maybe just find a diffrent career.

I want to buy a building. (You usually find buildings like these in cities). The top floor or two floors is the residence/apartment and the bottom floor is a store). What is this called? Does anyone know of the tax implicatons of such structure? Would I go to a real estate agent who specializes in commercial realestate?

I believe they are referred to as mixed use buildings and are classified as commercial structures. Your local agent would have access to these type of properties if they are norm in your area.

I know they dont require the basement area.The area given in real estate listing is very different if you calculate on your own with the mathmatical formula= lenth * breath. If you can also tell me how realestate people calculate area of the house. They just give you the range and no body knows what is the exact area and what it covers.

Well, there’s such a thing as a "Boeck residential square foot estimator".

What you do, is measure the outside of the house, ground floor. If it’s 2 full stories, you double it – that’s the square footage. You’re right, you don’t count the basement – there’s ANOTHER place where you factor in the basement, if it’s finished, if there’s a garage there, whatever.

Your agent can SHOW you exactly how the replacement value was calculated.

REAL ESTATE listings tend to measure the INSIDE of the rooms. They don’t include bathrooms, hallways, foyers, closets, etc, just the inside measure of each room (not the two square feet BETWEEN the two rooms), and add them together. However, that’s USABLE SPACE. Insurance companies don’t REPLACE usable space, they replace WALLS. So you measure the outside of the walls.