Profile picture for John Souerbry

John Souerbry

Agent

4 Recent Sales (last 12 months)

Broker/Owner (12 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Lots and land, development sites,
Property Management

Advice

  • (71 Contributions,
  • 0 Best Answers,
  • 24 Helpful)

Contributions are sorted newest to oldest.

Using your whole 401k to buy a rental home

Response

This isn't a question a real estate agent can answer.  Personal financial issues should be discussed with a financial guy, such as a CPA or a certified financial planner (CFP).  You're in a tough spot, recommend you talk with a financial person ASAP.

  (0)
Using your whole 401k to buy a rental home

Response

This isn't a question a real estate agent can answer.  Personal financial issues should be discussed with a financial guy, such as a CPA or a certified financial planner (CFP).  You're in a tough spot, recommend you talk with a financial person ASAP.

  (0)
Neighbor sold house for far below market value (to her son, I think)

Answer

Why do you care?Unless you're thinking of selling or refinancing right now, the current value of your home is irrelevant.  If you are thinking of selling, the best way to get a valuation to support a listing price is to hire an appraiser.  As you can see from the situation from your neighbor, online valuations have their flaws.

  (0)
how much is my home worth?

Answer

I'd skip talking to agents and hire an appraiser.  Depending on the size and location of your home, an appraiser can give you the most accurate value for about $300 - $400.

  (0)
what are the stipulations for foreigners (Canadian) buying US investment properties?

Answer

Nationality of the person is not as important as the nationality of the money.  In other words, foreign buyers can buy anywhere anytime, but they need to have a verifiable source of income in the US.Another strategy not considered very often is to borrow from a Canadian bank.  There are some who will lend on US purchases if a proper title insurance policy can be obtained.

  (0)
does it make sense to live in a rental and buy a home elsewhere?

Answer

Real estate can be a great investment that produces monthly income plus long term appreciation.  Rental property expenses are all tax deductible, regardless of whether or not you own or rent a primary residence.  I know several people who had all their money in real estate five years ago and planned to sell their properties to fund their retirement - they won't be retiring on schedule.  That's why I recommended in my previous response that anyone interested in real estate meet with a financial planner first - before meeting witha mortgage or real estate pro.  Real estate might not be the right investment vehicle for your specific situation.On the other hand, I have several clients who rent the home they live in for a variety of reasons, such as:  they move often for work; they don't want to put money into a property that doesn't produce income; they aren't sure where they will retire, so they don't want to put down roots that can't be pulled up later without a loss.  

  (0)
does it make sense to live in a rental and buy a home elsewhere?

Answer

Your question is more of a financial planning question than a real estate question - no agent can answer it properly.  I recommend you meet with a financial planner to look at all sides of the question - income, tax, and most importantly... retirement.  Once you have a good idea of how much you could and should spend on housing, either as a residence or as an investment, talk to an agent who can find a property that fits the numbers that you and your planner have agreed on.

  (0)