The simplified steps on how I sold and got houses were the following (KEEP READING).
DID YOU KNOW... Water issues of any house can be the main death of a house.
Investing, Reality, Big vs Small, Humbleness
Steps of buying a house:
- Get Pre-Approved with a mortgage lender. DON'T FUCK UP YOUR CREDIT and always build it.
- Find a Realtor to help you find houses in the price range you are qualified for.
: Ask for access to MLS housing in your market so you can do your own research as well. Go look at these houses and try to dig up as much issues with the house and make a pros / cons list.
- Put in offers (this isn't as serious as it sounds)
: The home owner has to accept it and the inspection has to come back with the same price you can afford. This is the waiting game and with today's market... don't get your hopes up unless you have a lot of money. ;)
- Make sure you get a very smart inspector so they can tell you EVERYTHING that is a potential downfall on the house and that you understand the house.
- Closing paperwork : Appraisal, Liens (Title work and insurance), HOA costs, Taxes, etc... by now you will understand what is going on because your realtors, mortgage lender, and everyone else involved will be working with you to get all your paperwork (W-2's, expenses, signatures, etc.)
Buying a house and real estate is one of the best investments I have ever made.
Now, some boring stuff : UPKEEP CHECKLIST
- Filters on the house
- Winterizing the house so nothing freezes
- Heating and HVACC issues.
- Sealing the inside from the outside
- WATCH FOR WATER ISSUES
: Mold in the bathrooms, Water damage in the cabinets, Water leaks in the crawl space, Water drainage outside, Drain clogs, Leveling (concrete and grass), Mold in the drywall, mold in the windows, sump pump, liners (all the way up to crawl space ceiling), insulation, etc.
- Rodents or bugs
- Unusual sounds (plumbing, old appliances, neighbors, leaking drips, etc.)
- Codes, Easements, Infractions current on the property.
- HOA cost, laws and regulations (They can put liens on your property)
- Gas bill, Water bill, Sewage, Taxes, Mortgage, etc.
.
The only reason I am writing this is because I am 30 and I'm so glad I did my research one night bored in college so I could set myself up for success.
- BUILD CREDIT (Car loan, Credit card, Student Loans)
- GET A WELL PAYING W-2 JOB for 2 years or more
- KEEP DOCUMENTATIONS ORGANIZED
This helps ease the process of getting qualified and getting a house the first time.
If you want to know more about this please reach out to me at prayandaustin@gmail.com
Remember, I am not a financial advisor or a mortgage loaner / real estate professional. Just a normal guy with two homes in his 30's with not making that much money or having a rich dad. Just being smarter than most, that I can help you with, with what I learned.