Selling a mobile home question.

Agent is a broker and doesn't work for the buyer or the seller. She says someone is waiting to hear what the insurance is going to pay out on some hail damage before they make an offer. I think they should just make an offer. It is listed 'as is'. Why would the buyer need this? Would we be better off just taking it off the market and fixing it ourselves?

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First time buyer, working with an agent, came across a for sale by owner

First time home buyer here looking for some help. I've had this real estate agent driving all over town with me for the past few months and finally today I came across an actual possibly choice for my home. It's a for sale by owner and from what my friends and family are telling me I should go after the house on my own. Their reasoning is that having my agent involved is going to muddy the waters and may make the sellers not want to work with me. However I'd feel terrible cutting her out at this point as I am a salesman too and for her to work with me for as long as she has now and then cut her out seems kind of shitty. Any advice is appreciated.

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FMA MIP Refund, Question.

I read a bit about MIP when I took out my FHA Loan, that essentially, if you refinance out of the FHA Mortgage you get refunded a portion of this upfront insurance, depending on how old the loan is.

What wasn't quite clear to me is if this is only if you refi into a new FHA loan, essentially they roll over your MIP toward your new MIP, or if this also works with a conventional refi.

Im putting together the numbers of whether a refi would make sense, I'm 18 months into a 15 year FHA Loan and want to refi into a conventional 15 year to drop my 100$/month PMI. Getting back some of that $5,000 MIP would make this a no brainer, but I'm unsure if that is how it works.

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Do I need my own agent?

I’m interested in putting an offer in on a vacation home that’s a half day drive away. I’ve already walked the property with the seller’s agent. The house is small and needs updates, but the property is great, including lake frontage. It has been on the market for 2.5mo with a couple of drops totaling around 5%. It seems due for another drop so I’d like to offer a little under asking.

What is my next step? Should I get my own agent to work with or try to go through the seller’s agent? What if I have an agent I like in my own area who does happen to have some waterfront experience? Would having an agent close to the property be better?

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[Austin, TX] Realtor/prop manager by the hour

I'm looking for leads (and reviews) on agents who can be paid by the hour to show rental properties and do walk-throughs twice or so a year. 

Seems to me that it is standard to pay one month in leasing fee and 8-10% per month. I am NOT arguing that it is too much to ask, I'd rather just do the coordinating marketing/screening/repairs myself and just have someone represent us on the ground at a lower cost because of poor cash flow. Also, I'm looking at shorter than 12 month leases and this seems to be a struggle for PMs.

I am not new to this – I manage rentals in another state with the help of a trusted real estate agent where I pay him $80 per hour (usually about 3 hours for open house, an hour each walk through for move in and move out, plus additional if necessary), but I am newer to the Austin scene. I am just looking for someone who is more resourceful and flexible, not arguing the pros and cons of PMs.

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Handling someone’s real estate investments – what would you take as a percent ?

There is a possibility in the near future of managing a relative’s real estate investments . They current have a property (SFH) that has appreciated significantly but rents are low versus the current market price . They are considering investing in higher yield real estate.

They want to be mostly passive . I have experience investing and knowledge as well. The idea would be to invest actively through value add buy /holds , flips and possibly joint venture deals and syndications . Would likely be traveling out of state as that is where more of the opportunities are these days at least in terms of cash flow .

Has anyone done something similar to this? How would you structure it ? What part of cash flow or equity would you propose ? Again this would be an active thing.

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Investor promote split and split of capital appreciation on sale?

So let's say that that LP puts in 95% of the equity, GP puts in 5%, they each get 8% pref on their equity, after that a 70/30 split investor/sponsor of the next 12% in returns, then 60/40 in favor of the sponsor thereafter.

What would you think is a fair split of the capital appreciation of the asset? Someone was proposing to me a 50/50 split of that. Does that seem reasonable?

In the prior transaction given to me, pre-sale split of equity returns were roughly 75/25, and they want a 50/50 split on sale, maybe moving it to like 72/28, but they also said on future deals they would ideally like 50% of all the returns, which seems outrageous. I would think max that an LP would go for is an overall 70/30 split.

Thoughts, experience?

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Home inspection cost questions and options

We just had an offer accepted on a home in Indianapolis, IN. We just got the following quote for a home inspection:

Inspection (2000-2999 sq.ft.) $397.00

Termite with full Inspection $60.00

Radon with full inspection $95.00

Well and Septic Inspection with Bacterial Water Sample $190.00

Pool Inspection (with full inspection) $140.00

Separate structure Inspection (under 1000' w/ full home inspection) $125.00

Total $1,007.00

I can't really think of anything I'd cut out to make it cheaper, though I think the well inspection with the water sample is likely going to return some bacteria. I've read that most wells have bacteria and the report shows that. I understand it's the type of bacteria that matters. I am curious if I should have gone with the pool inspection option vs. seeking out a pool maintenance company to inspect it. Has anyone had experience with that and have an opinion?


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