Cooking Resources

luvs · 06-01-2005, 11:45 PM

i'm thinking of buying my first house sometime soon, and i need some pointers. i may just be buying one just to rent out to other people.
what questions should i be sure to ask? what things should i look out for when looking at homes? anything else i need to know?
any landlords out there with advice on being one?
any advice would be greatly appreciated.
thanks!

pdswife · 06-02-2005, 01:25 AM

Wow! A new apartment, a new house, a new car and a pink blender. It sounds like it's Christmas at your house. FUN!

luvs · 06-02-2005, 01:59 AM

lol, pds.

those bills are gonna come rolling in once i get the house and the hummer, and i'll be crying then!
i'm not getting the apartment if i get the house. if i do, it won't be for long.
but i want to do this stuff young. i plan on having a baby next year, and i want my kiddo to have a nice place to grow up in and a safe vehicle to ride in.

mish · 06-02-2005, 02:33 AM

Here's a site I hope will be helpful. Use to be, if you were a first-time buyer, you get some financial breaks (maybe a couple of grand off closing costs. Don't quote me though. Things may have changed & laws may vary from state to state). It's pretty late right now, so I'll do some more thinking on it & get back if I can come up with anything more. Good luck & take your time. Be very sure of what you want & take it slowly. Renters can be a big headache when they can't come up with the rent & damage your property. You could have a realtor handle that, for a fee, if you want to go down that road.

http://www.fanniemae.com/index.jhtml

luvs · 06-02-2005, 02:40 AM

thank you verrrryyyy much, mish. i'll check that site out tomorrow evening. i've heard or fannie may before.

mish · 06-02-2005, 02:44 AM

You are very welcome, luvs. I'm gonna go crawl under my blankee now. Good night & have a pleasant evening.

texasgirl · 06-02-2005, 07:36 AM

Luvs, when your looking at a house, make sure you look at the ceiling and windows all the way through the house for any water spots {leaks} check inside, especially around windows and the corners of the walls and outside around the house for any cracks to show foundation problems. Ask when the last termite treatment was made and get documentation. Ask when the roof was last replaced, and get documentation. Check ALL water faucets and flush all toilets, for leaks, around the faucets and under for pipe leakage. Bounce around on the floor if it is peer and beam for soft spots. Ask if there has been any fires, minor or not. Ask about the electrical, see if there are any outlets that don't work. Ask about the heating/air. When it was serviced last.
Renting isn't easy. You have to hope that you get a good tenant, and you will be responsible for maintaining a lot of the upkeep. Check your area landlord laws.

luvs · 06-02-2005, 08:50 AM

thanks, tex. i wouldn't have thought to check the toilets and the taps. i'm glad you mentioned that.
i won't rent to anyone without perfect credit, i know that much! and if they don't pay the rent, i will not hesitate to turn them over to the bill collectors A.S.A.P.!

GB · 06-02-2005, 08:56 AM

When we bought our house, what we found to me of the utmost importance was a good real estate attorney. Our attorney helped us through every aspect of the house buying process. He helped us figure out which questions to ask, what to look at, he helped refer us to inspectors, mortgage companies, and helped us with all the paperwork and everything. It helped that he was an acquaintance of my parents through out temple so we felt very confident that he would not take us for a ride.