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chir 3 years, 1 month ago.
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Anonymous0He guys as I have been moving along in the work world, working 3 jobs, one finally a full-time gig. I have been wanting to get going on owning my own home and land. I was approved with two part time jobs for a loan but did not think too heavily till I secured the full time job. I have some ideas of what to look for in a viewing but could use all the advice on viewing homes. I went to house viewings with my parents when we moved almost 10 years ago. Looking at older homes the newest was constructed in 1955, 1900, 1879 are the other two homes. What are some good things to take note of, and what are not good signs?
Thanks,
SoylenGenerationHe guys as I have been moving along in the work world, working 3 jobs, one finally a full-time gig. I have been wanting to get going on owning my own home and land. I was approved with two part time jobs for a loan but did not think too heavily till I secured the full time job. I have some ideas of what to look for in a viewing but could use all the advice on viewing homes. I went to house viewings with my parents when we moved almost 10 years ago. Looking at older homes the newest was constructed in 1955, 1900, 1879 are the other two homes. What are some good things to take note of, and what are not good signs?
Thanks,
SoylenGenerationEvery Sunday I used to go out with my friends in Southern California 2 Huntington Beach. After all my buds are done surfing we sit in a Café eat some tuna fish and trade stories. One of my friends Paul bought a lot of income property from my bud cd. He complained that he paid a huge Commission. In 2014 he was worth an estimated 14.3 million. He started in 1986 with one property that he rented out the front house. Buy yourself a property that will pay for itself. Anything else is a waste of money
I can see their heads have been twisted and fed with worthless foam from the mouth. Bob d
There is a saying i think in German, – if you dont know what to do with money buy an old house.
The choices we make, not the chances we take, determine our destiny
Anonymous0He guys as I have been moving along in the work world, working 3 jobs, one finally a full-time gig. I have been wanting to get going on owning my own home and land. I was approved with two part time jobs for a loan but did not think too heavily till I secured the full time job. I have some ideas of what to look for in a viewing but could use all the advice on viewing homes. I went to house viewings with my parents when we moved almost 10 years ago. Looking at older homes the newest was constructed in 1955, 1900, 1879 are the other two homes. What are some good things to take note of, and what are not good signs?
Thanks,
SoylenGenerationEvery Sunday I used to go out with my friends in Southern California 2 Huntington Beach. After all my buds are done surfing we sit in a Café eat some tuna fish and trade stories. One of my friends Paul bought a lot of income property from my bud cd. He complained that he paid a huge Commission. In 2014 he was worth an estimated 14.3 million. He started in 1986 with one property that he rented out the front house. Buy yourself a property that will pay for itself. Anything else is a waste of money
In the future it would be rentable when I would be living in a different residence once I no longer live there. I see buy a cheaper older home a good way to get into real estate, and then the rental property game to make more money. At least that how I see a way to start.
Be sure you have it inspected—wiring, plumbing, phone outlets, electric outlets, water heater, septic tank (when last pumped) are pipes lead or PVC, get up in attic examine roof from the inside, look for soft spots, moisture, places where water has seeped. Are windows double panes.
Going rural will save you money in the long run as opposed to new home communities. Also don’t believe everything the realtor tells you. I have only owned two homes. The first was listed for 167K I offered 150K and the realtor told me they would NEVER take that—yes they did. My second home was listed 137K, I offered 118K and was told the same thing, they’ll never take that. WRONG again they did because I didn’t go through a bank for a loan but paid cash up front.
Anonymous0Be sure you have it inspected—wiring, plumbing, phone outlets, electric outlets, water heater, septic tank (when last pumped) are pipes lead or PVC, get up in attic examine roof from the inside, look for soft spots, moisture, places where water has seeped. Are windows double panes.
Going rural will save you money in the long run as opposed to new home communities. Also don’t believe everything the realtor tells you. I have only owned two homes. The first was listed for 167K I offered 150K and the realtor told me they would NEVER take that—yes they did. My second home was listed 137K, I offered 118K and was told the same thing, they’ll never take that. WRONG again they did because I didn’t go through a bank for a loan but paid cash up front.
Are there typical spots in the attic to look for water seepage? I take it looks discolored or a dark spot if wet, or is it a lighter spot when dry?. Defiantly going rural at this point if I can help it I will never be urban or suburban again. Are the inspections fairly expensive? Or are their prices based on house size and amount inspected? Thanks for the advice!
Anonymous0Depends on your skills, motivation, learning, and energy.
Also, people skills.
A gal came to me in tears who lost her job and could not pay her rent. I gave her a big hug and told her…you pay when you are able. I trust you like a daughter.
I would NEVER toss you out. More tears.That was six years ago. She found a job and paid all back rent.
Later at a bbq she told me she hated how feminism painted men as evil. She now sees through their lies and manipulation.
So people skills…you will need to be a bit of a Don, a father, grand father. You treat your renters like family.
Zero turnover.
I never raise rents whole they are there.A double in a very good area is a safe bet. Near a school or park.
Location is everything.
Foundation, structure, roof.
Water is the enemy.
Non stop work and improvements.
Flower and spice garden.
Xmas lights.
You are selling a rental home to renters for a six year stay worth about 60k.
Happily unclog drains and leave a box wine when done and keep referring to..”their home.”
Women are always late with rent. Build it into your business model.
Less is more. Just a few high quality property is key.
No ghetto rental.
Get a drain power snake.
Maint. Plan.
Go big on insulation.
Respect their privacy.
Now I am not sure of the laws regarding such am aware of some but as a land lord are you able to be any bit selective about whom you rent to or is that plain and simple not allowed by law? Just curious, I do not want to rent to some one who will tear up the place. I have no desire for renting out in the ghettos. As a land lord are there certain types of insurances for renting to others?
Dark spots and soft wood is a clear indication of a leak. Try to avoid shingles and look instead for steel roofs. Home inspections can be expensive but you can try and put it off on the seller. Also be sure to check the fuse box and make sure it is up to code.
If there is a basement check for water seepage again AND bring along a level to place against the wall to check for buckling/bulging. You don’t want to have to put in wall anchors.
Rural places will often be what is called a “cracker house”. This is a frame home built on a series of pylons of brick or cinder block. Nothing wrong with a house like that. In fact you can crawl under it to look at pipes, electric wires etc.
And whio cares if they need a little work. Most stuff you can do yourself right down to replacing flooring, sheetrock on walls etc. If you have some basic skills with tools there is little you can’t do.
Anonymous0Dark spots and soft wood is a clear indication of a leak. Try to avoid shingles and look instead for steel roofs. Home inspections can be expensive but you can try and put it off on the seller. Also be sure to check the fuse box and make sure it is up to code.
If there is a basement check for water seepage again AND bring along a level to place against the wall to check for buckling/bulging. You don’t want to have to put in wall anchors.
Rural places will often be what is called a “cracker house”. This is a frame home built on a series of pylons of brick or cinder block. Nothing wrong with a house like that. In fact you can crawl under it to look at pipes, electric wires etc.
And whio cares if they need a little work. Most stuff you can do yourself right down to replacing flooring, sheetrock on walls etc. If you have some basic skills with tools there is little you can’t do.
Thanks! I would have never thought about brining a level.
I agree with all posted above. I’ll add, it’s true what they say with the whole location location location thing. If you plan to be there for a while make sure you go with the best location you can afford. Too rural is a hard sell. Like it or not people want convenience so just keep that in mind for future resale. And lowball. Get it as cheap as you can and throw money at it. Extra payment a year makes a difference. Also, make sure no dead bodies were laying around in there for a while undiscovered or you’ll have to gut. With a lot of elderly living alone it happens more than you think.
I want to shove Ms. Piggy in a woodchipper. No quote. That's all.
Anonymous0I agree with all posted above. I’ll add, it’s true what they say with the whole location location location thing. If you plan to be there for a while make sure you go with the best location you can afford. Too rural is a hard sell. Like it or not people want convenience so just keep that in mind for future resale. And lowball. Get it as cheap as you can and throw money at it. Extra payment a year makes a difference. Also, make sure no dead bodies were laying around in there for a while undiscovered or you’ll have to gut. With a lot of elderly living alone it happens more than you think.
Pretty familiar with the dead bodies deal, haha. Had one at one of the fire departments I work at. When we got called out, they had been dead almost two weeks. It was rank and a bit messy to say the least. Yea, looking for a primary residence first so I am a bit more leaning to more rural and less resale. I like living away from people. It’s a balance though too I do not want a house that will be devalued in time because it is too far away from civilization to keep value. Not sure how to gauge that right now. Did you have a rule of thumb for how rural vs re-sale?
Man I will never forget that smell. Blech! Haha
I agree with all posted above. I’ll add, it’s true what they say with the whole location location location thing. If you plan to be there for a while make sure you go with the best location you can afford. Too rural is a hard sell. Like it or not people want convenience so just keep that in mind for future resale. And lowball. Get it as cheap as you can and throw money at it. Extra payment a year makes a difference. Also, make sure no dead bodies were laying around in there for a while undiscovered or you’ll have to gut. With a lot of elderly living alone it happens more than you think.
Pretty familiar with the dead bodies deal, haha. Had one at one of the fire departments I work at. When we got called out, they had been dead almost two weeks. It was rank and a bit messy to say the least. Yea, looking for a primary residence first so I am a bit more leaning to more rural and less resale. I like living away from people. It’s a balance though too I do not want a house that will be devalued in time because it is too far away from civilization to keep value. Not sure how to gauge that right now. Did you have a rule of thumb for how rural vs re-sale?
I want to shove Ms. Piggy in a woodchipper. No quote. That's all.
Anonymous0No kidding! Hahaha! You could strip the paint off a car with it!
Man I will never forget that smell. Blech! Haha
I agree with all posted above. I’ll add, it’s true what they say with the whole location location location thing. If you plan to be there for a while make sure you go with the best location you can afford. Too rural is a hard sell. Like it or not people want convenience so just keep that in mind for future resale. And lowball. Get it as cheap as you can and throw money at it. Extra payment a year makes a difference. Also, make sure no dead bodies were laying around in there for a while undiscovered or you’ll have to gut. With a lot of elderly living alone it happens more than you think.
Pretty familiar with the dead bodies deal, haha. Had one at one of the fire departments I work at. When we got called out, they had been dead almost two weeks. It was rank and a bit messy to say the least. Yea, looking for a primary residence first so I am a bit more leaning to more rural and less resale. I like living away from people. It’s a balance though too I do not want a house that will be devalued in time because it is too far away from civilization to keep value. Not sure how to gauge that right now. Did you have a rule of thumb for how rural vs re-sale?
use the common sense approach,
inside attic check near chimney and any skylights for water damage,
solid walls are durable.
any areas like windows doors etc, where the walls are compromised are potential trouble spots.
look at the lay of the land..
are you sitting high or low?
high is better , water runs off…
look at beams very closely…
tiny pinholes are powder-post beetles..
needs an exterminator at minimum..
and always low-ball your offer..If you are planning to flip it down the road Black Butt is right. It may take longer to sell but living in a house where you can open a window reach out and touch the neighbors house REALLY sucks.
Out where I live I can shoot on my property, play my music at a deafening roar, or fall out drunk in the front yard and nobody bothers me…or if they do they do so at their peril—
Sure to go into town I have to drive 20 miles—so what—thats why we have cars.
I thought I knew what I was doing and brought a bargain house in a good neighbourhood. It looked good, was well deccorated and carpeted. The only problem I could see was that it was on a steep hill and that the back garden was overgrown. Brought the house and cleared the garden. That’s when I noticed that the retaining wall holding back the garden of the house above me on the hill was leaning over at a 45 degree angle. Spent a year cutting trees down, moving soil, digging out the old retaining wall, laying foundations and then getting a proffesional builder to build a new retaining wall.
Next I started on the house itself. Wanted to move a few power sockets in the wall so chashed out and laid the cables. This ruined the (very thick) wallpaper so I stripped it. Underneath the paper were cracks in the wall that had been filled with expanding foam. I could fit my hand in the cracks they were up to 2 inches thick and ran down the whole wall. Stripped all the paper off all walls and found more similar cracks. Took out the foam filler and cemented the cracks.
All the mess spoiled the carpets, so I took up the carpets. Uneven floors. When viewing we noticed that the upstairs floor was creaky but the owner said that the plumber hadn’t replaced them properly when he laid the heating pipes. Took up the floorboards and the crossover of the rafters next to the loadbearing wall were not straight. They were slightly raised in the same way your fingers are raised when you intertwine your hands. One side of the house was breaking away from the other and slowly slipping down the Hill! Planned the rafters straight and level at ther join and laid new flooring.
Outside the house at the front there was no solid driveway for the car or path to the door. I removed what stones had been laid and dug a level incline from the road to the house. The soil was mostly just sand. Water from rainfall had soaked into the sand and this had destabilised the foundations of the house leading to subsidence. I laid a dry mix concrete bed and laid paving stones all around the house to seal the ground from further water soaking.
The cracks have not reappeared. A retaining wall between my house and the next house lower down was bulging out, but I didn’t notice at time of viewing as it was November and dark at the time and the owners parked their two cars on the drive so I couldn’t see the ground underneath.
This wall has since shrunk back to almost verticle now as it’s no loger having to hold in waterlogged sand.
I was ripped off, but I have made good. There were lots of other problems in plumbing and electrics but I’m about done now.
The only thing I would say is check if the wallpaper is the heavy thick type and what it’s hiding. Be suspicious of any creaky floorboards, and don’t buy a house on a hill if you haven’t checked the retaining walls up and down first.
It's Time to get Wise
Looking at older homes the newest was constructed in 1955, 1900, 1879 are the other two homes. What are some good things to take note of, and what are not good signs?
First Might have been already said but if the homes are this old the 2 most important things to make sure to check are the electrical and foundation of the place.
Second I am not sure what the housing market is like where you live but I know if Canada its on fire, I would wait at least 3-5 years before I buy anything as now it was way overpriced.
Knowledge is power..... Don't waste your brain on bullshit
Anonymous0Just wanted to say thanks to everyone here that helped me with some pointers. I had the viewing today and boy was the place a lumpy dump. It looked like it was a garage or old service station converted into a home. Lots of shoddy drywall work and the roof seams were a joke. Rotten wood broken windows and filthy broken down cabinets. A janky drop ceiling hiding who knows what, there was no ladder to get up there but what I saw was full of holes. They sure made it look better on the online listing than it actually was. To say the least it was a project of greater scale than I could tackle, it needed a complete gutting in my opinion. It turned out to be a foreclosure too so no mortgage was possible. Good maybe for an investment property for some one with more money than I. I’ll keep looking and banking away for a winner.
When I was looking for my first house a builder friend gave me some advice, get something at least 20 years old as by then it has settled on the slab / foundations and you can see if there are any cracks (there pretty much always will be on an older house but obviously you don’t want really bad ones).
otherwise i would remind the common sense stuff – south facing if you are in the US, high side of the street, and I agree with Stealthy about not upping the rent on a tenant, I’ve only had one tenant but she she always pays on time, no issues, and she’s been there over 3 years. Place looks better than when I lived there (which is a sad comment on me). I keep the rent steady and she re-signs the lease, and its positively geared to the tune of over $1K a year.
Here is a link to a PDF you can use to behave like a house inspector.
http://www.totalhomeinspection.com/totalhomeinspectionchecklist.pdfAlso here is another which may help.
I brought along a house inspector to a viewing and said he was my uncle who was a contractor. Realtors pucker up fast if you say you have a housing inspector with you.
It is by caffeine alone I set my mind in motion, it is by the beans of Java that thoughts acquire speed, the hands acquire shaking, the shaking becomes a warning; it is by caffeine alone I set my mind in motion.
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