Ask MetaFilter questions tagged with property

Class A, B, C real estate?

thewalrus — Fri, 29 Mar 2013 21:59:08 -0800

Real estate filter: Is it considered in any way derogatory or impolite to refer to non-prime commercial office space as "Class B" or "Class C"? My question is: I am contracting for a firm that is exploring the costs of running underground fiber-optic cable to unserved buildings in a major north american city. These buildings currently have some form of Internet access via ADSL2+, multiple T1s, or occasionally DOCSIS2 where the local cable TV company also happens to have service into the building.

Pretty much all of the "Class A" premium office towers in the city in question have had fiber for 8 to 10 years. We are going after exclusively what seems to be defined as "class B / C" buildings.

In discussions with commercial realtors and property managers, are the following grading systems really applicable? Is it rude or inconsiderate to accidentally refer to a building as "Class C" when the owners may actually think it is a "B"? To me it seems like a weird classification system, and certainly if referring to a manufactured product or other thing as "grade B" or "grade C" it is describing something that is noticeably substandard... For example an eBay "cosmetic grade C" refurbished laptop that is covered in scratches. Or a "B-grade" movie.

for reference:

link one.

link two.

link three.

Quoting wikipedia:

The Building Owners and Managers Association (BOMA) classifies office space into three categories: Class A, Class B, and Class C.[4] According to BOMA, Class A office buildings have the "most prestigious buildings competing for premier office users with rents above average for the area." BOMA states that Class A facilities have "high quality standard finishes, state of the art systems, exceptional accessibility and a definite market presence." BOMA describes Class B office buildings as those that compete "for a wide range of users with rents in the average range for the area." BOMA states that Class B buildings have "adequate systems" and finishes that "are fair to good for the area," but that the buildings do not compete with Class A buildings for the same prices. According to BOMA Class C buildings are aimed towards "tenants requiring functional space at rents below the average for the area."[5] The lack of specifics allows considerable room for "fudging" the boundaries of the categories.

What UK Legal Implications are there with documenting bad service online

dougrayrankin — Thu, 21 Mar 2013 05:00:41 -0800

What are the legal implications if I start a blog documenting the poor service my property manager provides, and asking others to share their opinions of this firm? I can speak for the factual accuracy of my own experiences (I have their letters and invoices etc, as well as my responses), but what about others? This question seems a bit above my level, but basically I am having a nightmare with my property managment firm who are (amongst other things) invoicing me for periods when I didn't own the property, agreeing to waive a fee and then issuing another invoice in which said fee has reappeared, failing to respond to direct queries of mine (I email a direct question, they write back as though they didn't even see that part of the email), failing (despite me now having asked four times) to send out a direct debit mandate, attempting to force membership of a communal buildings insurance policy for considerably more per month than my current buildings AND contents policy costs... the list goes on. Already this firm sees their name appended in Google's autocomplete with words like "suck", "rubbish", "complaints" and "terrible". I'd like to provide a focal point for those with a frustration to state their case, and then to make sure that anyone searching for the firm sees all of these just as prominently as the firm itself. It is an attempt to shame the firm into improving its service.

How can you make sure buyers use a web-platform for large purchases?

BigBrownBear — Sun, 03 Mar 2013 13:53:22 -0800

I am advising on the creation of a web portal for the sales of homes. One of the concerns is that buyer and seller will find each other via the site but then carry out the purchase on their own, cutting the site out of a potential "intermediary" fee. Does anybody have any ideas / experience on how this can be addressed?

Real Estate & Mortgages in Boston

barnone — Tue, 26 Feb 2013 13:56:03 -0800

I'm having a really hard time finding a reputable mortgage broker. The property is in Boston, MA, but I'm willing to work with someone in another state. The most important thing is that they're not slimy or condescending. Can you recommend someone in my area? Anyone to avoid?

Help me buy my first house!

everydayanewday — Mon, 25 Feb 2013 12:08:11 -0800

My partner and I have saved a deposit of $50,000 to put down on a house. We're looking for a one bed flat around the Gastown area of Vancouver BC, which we may end up renting out while we move to the US for a couple of years for work, but I have no idea how to go about this. We've been to the bank where they quoted us a loan for $600,000 which is at least $200,000 more than we think we could comfortably repay. So with that in mind, my next step is finding a place. What is the best way to go about this? I hate estate agents with a fiery passion but can't see how we could do this without one. I'd like some advice about what to look for, how much to pay for what, and periphery costs that don't come from a dodgy sales agent. Where could I find the kind of info I'd need to be an informed buyer?

Also, on the issue of renting the place out, we'd be looking for someone to manage that while we're away. But costs for management lead me to think we wouldn't even break even on the mortgage repayments were we to do this. Does anyone have any experience in this area - how did it go for you? Could you cover the cost of the mortgage with the rent? Were your managers trustworthy, or did you come home to major damage and squatters?

If I were in my home country, I'd know much more about this, but I have no idea about property law, duties and processes in Canada. If anyone could help me make these waters a little less murky I'd be very, very grateful!

Tracking down stolen guns

DaddyNewt — Sun, 27 Jan 2013 12:25:44 -0800

About 30 years ago my dad had a large gun collection (about 100 total). They were stolen and only about 10 of them were ever recovered. He had a list of models and serial numbers that he sent to local law enforcement. I still have that list. is there any chance of recovering more of the guns? How would I go about that?

900 people, get off my lawn

sararah — Fri, 18 Jan 2013 07:19:07 -0800

I live in a Midwestern college town, and we are homeowners fairly close to the university campus. A large chunk of land about a block from our house has been sold to a developer. The developer plans to turn it into student housing, provided they can get the required zoning changes. I'm looking for people who've had similar experiences dealing with local governments on zoning issues, and what I, along with my neighborhood organization, can do to cope in the months to come. The facts:
1. My street is primarily owner-occupied, although we are surrounded by streets that have a significant number of rental houses. The other side of the proposed development features owner-occupied properties.
2. The planned development is not high-density housing. Rather it's townhomes and small four-plexes, none of them greater than two stories. However, it's still about 900 new people living within a mile of our house. (We call this the best worst-case scenario)
3. The proposed development is rent-by-room, so each bedroom will have an individual lease. This doesn't really make it flexible for non-undergraduates to live there. Plus, it's really, really expensive and fancy. The developer assures me "anyone can live there!" to which I say "hahahahahaha forever!"
3a. The property has to be rezoned to medium density in order for the development to go forward as planned.

The concerns:
1. Since we live in between the proposed development and the bars, we're very concerned about increased late-night foot traffic, and the accompanying noise, trash, vandalism and peeing. Also vehicle traffic since we already have a lot of people that use our street as a speedy shortcut (pizza delivery vehicles driving 45 mph down my street, I'm looking at you).
2. Other neighbors are concerned about flooding in their neighborhood being exacerbated by the additional development. I'm concerned about the development having a huge impact on a tiny sliver of forested area that runs through the land.
3. The development will push homeowners out of the neighborhood, and after our property values plummet and we can't sell our houses, we'll just start renting them out like the rest of our neighborhood.
4. If student enrollment slows or falls off, we will be left with a huge, student-focused housing development that can't find tenants.
4a. Yes, this town is growing and it does need more housing. But it is my belief (backed up with limited research) that it doesn't really need that much more student housing (i.e. the university is already building more student housing as we speak). Obviously the developer stands to make a lot more money from the higher density housing versus low density reasonably priced housing (I doubt anyone would by a McMansion in my neighborhood, also McMansions are sooo 2005).

The actions:
1. We're already forming a neighborhood action association and meeting with a city planner.
2. On our street, we're discussing closing off the end adjacent to the development, or forcing the city/developer to pay for speed bump installation (this would be annoying, but I think I would glean a sick joy from hearing the pizza delivery guys bottom out on my street for the first few months.)
3. Installing razor wire in my yard. (I kid! I kid! Sort of.)

What else can be done? As my significant other put it, "the Council is going to vote how the City Planner tells them to vote, and I'm guessing the developer has already had significant discussions with the City Planner." So....Should I look up a whole bunch of demographic information and argue the detriment of this development to the neighborhood and the city? Do I start calling around to property managers to obtain my own data to refute the developer's stance that "there are no housing vacancies in this town"? Do I start a blog to rage against The Man? Or is doing a bunch of research just a huge waste of my time?

Assuming the developer does get rezoning and the project comes to fruition, what types of demands should we make upon the developer in order to mitigate the impacts as much as possible? (Some thoughts are increased police patrols in the neighborhood, speed bumps/dead end our street as mentioned above, private security supplied by the development on the weekends, requiring the developer to have some sort of neighborhood improvement/neighborhood cleanliness initiative, a shuttle bus from the development to campus/bars since public transit currently does not go past a large portion of the development, etc.) What questions should we be asking of the city, and what demands can we make?

How can I be more zen about this entire process? (I am most definitely NOT ZEN at the moment.)

tl;dr: get off my lawn

(p.s. cute, cozy, and recently renovated house with amazing patio and back yard for sale, message me for more info. I kid! I kid! Sort of.)

UK - Inherited a property with development potential. How to sell?

Anonymous — Thu, 17 Jan 2013 13:42:17 -0800

I have recently inherited half of a property that has development potential and am looking for some advice on what to do next. Prior to this inheritance I have never owned a home or even managed to save a small deposit for a mortgage, so I have absolutely no experience of the property market.If all goes well, selling the property could set me and my fellow beneficiary up for life - we each hope to use our shares to buy our own homes mortgage-free! This is a once-in-a-lifetime opportunity for me and I'm anxious to get the best possible price for the sale! About me:
So, I'm currently renting and have no assets or savings whatsoever, and a little bit of debt too. My fellow beneficiary has a mortgage with their spouse for 50% of a home - a housing-association or somesuch owns the other half. Neither of us are used to having money and are completely unprepared for this situation.

About the property:
It's a large bungalow in about an acre of land. Estate-agents value it at about £240,000 as-is, with no planning permission. However, every estate agent we have spoken to talks about "development potential". So far, only one estate agent has come up with a proposal (destroying the bungalow and applying for permission to build 6 smaller ones, upping the value of the sale to £300k - the estate agent apparently has contacts with council planning and several interested builders). Another has recommended that we contact the council planning department directly and ask them to come out to see the property and give us an idea what sort of planning permission they might allow.

So, what's the best way to proceed from here? Is it wise to talk to the council myself, or should I speak to more estate agents? Should I approach developers directly? Should I seek independent advice, and if so, from whom? I'm completely lost and desperate not to screw this up!

(Just in case I wasn't clear enough above - I'm wanting to sell the property for development, not to fund a development and sell the end product. So I think that means I want to get planning permission and sell. But I'm not sure - which is why I'm asking for help!)

Many, many thanks!

Throwaway: propertyenquiry111@gmail.com

What do you do exactly?

MayNicholas — Tue, 08 Jan 2013 11:16:42 -0800

We are planning on getting our little .34 of an acre property surveyed & the boundaries staked. We are in an older neighborhood with basic lots & homes. I plan to do my due diligence and find a good surveyor at a reasonable price. What should I be asking and what should I be weary of when I call around? Also, how exactly do I find who to call? Is there a registry? Are surveyors licensed? I have already checked with the county- there are no existing surveys for our property other than the original 1950 plat map. Obviously I have no clue what I'm doing, but want to sound like I have a at least a little insight when I start getting quotes. Tips & tricks appreciated.

Property Management in Utah

birdlips — Thu, 03 Jan 2013 17:01:25 -0800

what is a good property management companies in Utah? I know this question is very specific to an area and might therefore be hard to get answers but I am trying to find a good property management company that deals with residential properties in the Salt Lake City area. I can easily do a Google search but I was hoping for some personal experience.

Thanks!

I gave myself a great deal

blazingunicorn — Wed, 28 Nov 2012 15:36:26 -0800

Under what circumstances would somebody sell themselves a house for a drastically reduced price? I'm doing some fact-checking for an article, and had to look up the property records to verify the year that someone bought a house. After getting the official sales history from the online county records, I got this transaction history:

-X owns a house.
-Y buys the house in 1996 for $200,000. (Prior owner: X.)
-Y buys the house in 1997 for $70,000. (Prior owner: Y.)
-Z buys the house in 2001 for $300,000. (Prior owner: Y.)

So what's going on there--why would Y buy a house, and then buy it from herself for substantially less money a year later? I know that Y was running a business out of the garage, so perhaps there's some tax incentive. I may ask in the future, but am not expecting a clear answer, so in the meantime, I'm curious to know if anyone has ever seen anything like this.

What parts of Oakland, CA are best to settle in?

yoz420 — Wed, 28 Nov 2012 13:35:56 -0800

What parts of Oakland, CA are best to settle in? My little sister is moving to Oakland and thinking of buying a house there on the cheap: 100k, max 200k. She would like to be within reach of BART and have a stand alone house with some outdoor space. The place can be small, doesn't need to be fancy at all.

What neighborhoods are up and coming? What neighborhoods to avoid? Any other advice on buying a place in Oakland?

Personal belongings after a divorce

staggering termagant — Fri, 02 Nov 2012 07:33:05 -0800

Can my ex-husband keep my personal belongings? My divorce from my ex was final a year ago. I realized recently that my Christmas ornaments (given to me by my great-grandmother) are all mixed in with his, and are in the house we lived in together (where he still lives). I also recently found some of his family pics mixed in with mine, that I took when I left. I wrote to him and told him I'd like to give him those pictures back, and asked if I could come over and look through the suitcases to collect my ornaments.

He said that basically any property I left behind is just that, "left behind," and that maybe if he has time he'll look in the suitcases and notify me if he finds anything, but that he doesn't think the ornaments are there. I definitely don't trust him to return the ornaments.

He's been living in the house for a year and paying all the bills, though both of our names are still on the mortgage. i plan to contact a lawyer to ask about this, but wanted to get some input before I do. Has anyone had experience with this? Can my ex refuse to let me look for personal property that I know I left behind?

Water damage issues.

wongcorgi — Mon, 22 Oct 2012 10:26:01 -0800

Water damage due to an defective appliance. Unit is a townhouse, property management company won't file claim, saying it's my responsibility. Do I have any recourse? The washer in my townhouse started overflowing because of a defective pressure switch. Leaked quite a bit until it was noticed. Immediately called out a company who handles water issues to perform cleanup/repair/replacement. The bill was around $2000.

The company says they normally just bill insurance. My property management company handles insurance claims, and they say it is my issue due to this clause:

"Each owner shall, at the Owner's sole expense, keep the interior of the Unit and its equipment, appliances, and appurtenances in a clean and sanitary condition, free of rodents and pests, and in good order, condition, and repair".

So the washer has been working 100% for 5 years, it is not at end of life. I consider this in good repair. I had it fixed the next day.

Does an accident like this mean that I need to pay out of my pocket? It seems like this situation is just what insurance is for.

Who "owns" it?

teg4rvn — Tue, 09 Oct 2012 18:30:47 -0800

For sake of discussion, let's say that I am an expert on "widgets". Particularly, I review a lot of reports about widgets for my word-of-mouth consulting business. This is a side business - - by day I work in the public sector - - in the widget business. Approximately 6 years ago I purchased the domain "widget review.com" with the hope of using it as I neared retirement and transitioned to a full time consulting role with a full fledged website. Well... In the interim time, another expert in the widget field has had a consulting business and a website named "widget review.org" I know you are not my lawyer, but might I run into some sort of legal trouble when I bring my website online... even if I owned the dot com url first? To be clear, my competitor and I provide the exact same service. I am also operating under the assumption that he probably looked for the dotcom version of the url, but since I owned it, optioned to the dotorg version.

How does one actually gentrify a building?

furnace.heart — Mon, 08 Oct 2012 07:50:06 -0800

How does the world of raising capital for large scale property improvement and investment work? I know this is a super vague question, but the situation is as follows:

I work for a couple who own a huge, beautiful building in an affluent college town in the northeast. Street level spots are doing just fine, with businesses operating out of them, thriving and paying rent etc, but there's three full floors of glorious building above that remain unused. The owners are very interested in utilizing the space, but have no idea how to go about raising the capital or forming an investment group to do so. This particular building would honestly make a beautiful, classy restaurant/brewpub and hotel combination if executed properly.

Now, back home in PDX, it was really common (see, McMenamins, Ace Hotel, Etc) to see buildings very much like this turned into restaurants, bars, venues, etc. There's a trend in the northeast for older mill building to be repurposed, and this building is very much in the same class. This building is just ripe for revitalization and has the bones to make a very interesting hotel/restaurant/brewpub hybrid. I've not really done any research as of yet, but this area gets most of it's money already from tourist traffic and the college presence, so it appears on the surface to be a good fit.

My broad, broad question (hopefully with several to follow) is how do renovations like this take place from beginning to end? How do investment groups get pulled together to finance operations like this?

I'm sure there are consulting firms that specialize in this and individuals with degrees in finance and hospitality are more geared towards a good execution of such a thing, but I'm wondering if it's something that can even be attempted by a mere mortal with a communications (PR) degree and a couple decades of experience in the food industry?

My end goal is to work up a proposal for the owners to allow me to facilitate the project of actually pulling together investors and get the ball rolling on getting a financial group together to repurpose the building (the owners have no real time to do so, running several other quite successful businesses, but again, have expressed interest in the desire to use the rest of the building). I personally have no money to throw at an investment property like this, but I do have plenty of time and drive. My family and I going to be living in this area for the next 2 years +/-, and I'm actively trying to claw out of jobs that only pay $12/hour, so this seems like it could be a long-shot opportunity. Realistic? What steps would I need to take?

How do I get a trade focused book published? Should I get an agent?

BigBrownBear — Sun, 07 Oct 2012 02:27:36 -0800

How do I get a trade focused book published? Should I get an agent? I have written a draft book which is an introduction to commercial property transaction. This is somewhat specialized for people who work in commercial real estate as sales agents or investors. I suppose it could be found in a Waterstones or Barnes and Nobles but the main audience are professionals working in the sector - not a broad audience.

Here in Europe there was one main publisher, Estates Gazette, which has now been acquired by a larger American publishing house. My original thoughts were to approach them with the finished manuscript but I am wondering if that would look too novice.

Does anyone have experience with getting such a book published?

How to start planning building on empty land?

trialex — Sun, 23 Sep 2012 21:08:09 -0800

How do I get started building a small house on my (potentially difficultly zoned) empty land on the south coast of NSW? My sister and I inherited a bit of land from an aunt - we had no idea she owned it before she died. Since that time more than 10 years ago the property has sat empty, costing us a bit in council rates and land taxes each year. I now have the financial opportunity to do something with it, but I have no idea how to start. Who do I contact to get the ball rolling?

Bottom-up approach: Have ...someone... look at the zoning etc. and do a physical survey of the property to see what is possible. Who is this person?

Top-down approach: I have a basic building idea in my head, should I find an architect who can then refer me on (or organise it themselves) to the right people to to the initial investigations?

To complicate things, when we look at the Shoalhaven Council's website, it is zoned "1(g) Rural (Flood)" - probably because of a creek flowing diagonally though it. There are other properties with the same zoning nearby, so I'm guessing this isn't necessarily a deal breaker in regards to building. Does anyone have experience with approving buildings with this zone (I'm guessing probably unique to Shoalhaven with a lot of overlap in other councils)? Also it is currently not cleared.

Thanks heaps, happy to give any further needed details.

Can I sell my photos of people?

DMelanogaster — Thu, 13 Sep 2012 10:39:27 -0800

Can I sell photos I took of people on the street who didn't know they were being photographed? I have a bunch of photos, some of people, some of other things with people in the background, and sometimes I think I might want to try to take framed prints of them around to the many coffeehouses in my neighborhood for display and possible sales. (I see art for sale in the coffeehouses quite a bit).

What are the issues with selling a stranger's image? I never told the people I was taking their pictures, certainly never got releases, etc.

What do people do? (What did e.g. WeeGee and all the rest of those people do? Did Diane Arbus get releases?)

Home is where the 'for sale' sign is.

Ziggy500 — Tue, 11 Sep 2012 04:02:48 -0800

My flat has been on the market forever, and nothing has worked out. Advice and encouragement requested. My flat is a studio in a London burb which has been on the market since February (so, not forever exactly, but it feels like it). It is in good condition, in a nice complex, and other flats nearby exactly like it have been sold recently. It's priced realistically (around the same price as the similar flats got sold for). On the minus side, it's a studio flat, and the lease is about 77 years, so not terribly long.

I've had 3 offers for the flat in that time. 2 were later withdrawn by the prospective buyers (they changed their minds). I accepted the 3rd, and we went quite a ways towards exchange and completion before the buyer backed out with no words of explanation, leaving me completely disheartened and a few hundred pounds in legal fees poorer.

I don't know what to do. It is currently still on the market but I'm not having many viewings requested at all. I think that as we get to winter I'm going to have to take it off the market. I don't think it's good for a property to be on the market forever. It is only listed with 1 estate agent.

I like the flat but do not want to live there for ages longer - I need more space. I am feeling extremely discouraged by the thought of being stuck here for months and months. I am looking for practical advice in how to sell it off quickly. But in the absence of that, anecdotes and words of encouragement would be good too!

Is Motel Manager a Decent Job for Me Based on my Goals??

Piscean — Sun, 09 Sep 2012 16:55:46 -0800

Through a friend I have been offered the opportunity to work at a "mom and pop" 60 bed motel that has a fitness center, pool, and serves meals. It averages decent ratings from guests. I'm up for the challenge but I'm no spring chicken. I lost a good paying position in the recession in 208 and subsequently had to drop out of a Ph.D program just before comps- and it looks like I won't be finishing that degree any time soon, because I currently work in a call center and can't even afford a car. One of my dissertation interests is urban agriculture and housing communities set up to support it. I'd love the opportunity to work alongside community designers to plan and/or design and/or run such a community. I figure that work in fields somehow related to such an endeavor would be helpful since I can't afford to return to school.

The motel job is is live-in and would give me experience in property management, which I think would be very helpful. The pay is HORRID but includes room and board and internet. I wouldn't need a car, and I'm hoping I can get at least breakfasts out of the deal!

Basically the only reason I'm considering such a job is to put a management position back on my resume and to gain experience for my career goals. I do have experience as a travel agent and in management, but not enough to impress employers.

My questions to people with this type of experience run along the lines of: What is it really like to work as a live-in motel manager? Does it look good on a resume? Would this kind of experience help me with the career goals I've mentioned? What skills will I be building? What makes a great motel manager? How can I parlay this position into something better paying down the road? What are the pros and cons?

This call center job does not use my best skills and is a go-nowhere job. The pay is good for the current economy, however, and I have health insurance - plus I can walk there. I won't leave my current job if a motel manager position won't move me toward my goals.

How good is NRAS?

A Very Muddled Alpaca — Tue, 21 Aug 2012 19:21:34 -0800

Do you have any experience of investing in an NRAS (National Rent Assistance Scheme) house in Australia? Or the Australian property market in general? I'm hoping to invest some money and came across the NRAS system which seems too good to be true. Basically you invest in a house, rent it out at 80% of the market rate, and in echange the goverment gives you ~ $9500 a year. I met with a investment property management company yesterday and it seems you can invest in a house through NRAS and get all the negative gearing benefits of a negative cash flow property as well as getting positive cash flow from the government refund. Basically, paying the interest only on the loan would be covered by the rent and tax savings, and then the goverment money could all be money in the bank (tax free).

I'm new to investment as a whole, and property in particular, so I'm not sure if there's something I should be watching out for. Also, from what I understand the Australian property market is still somewhat overvalued, though I can't seem to find a consensus on what that may or may not mean for the future. I'm in South Australia.

I guess my questions are: have you had any experience with NRAS, good or bad? And would it be unwise to invest in Australian property when the market is a bit of a mystery?

Drawing Lines in the Sand

shipbreaker — Sun, 19 Aug 2012 10:18:05 -0800

My neighbor built her fence on my property. Many many years ago. Is it too late to do anything about it? Many years ago, in the nineties I think, my neighbor built a fence eight inches on our side of the property line. I believe the debate at the time between neighbor and my grandparents was, if neighbor was gonna have to pay for the entire fence herself, she was damn well gonna take a little extra real estate for herself at the same time.

As a grandchild I remember this coming up over, and over, and over, as a sore point between my grandparents and the neighbor.

Since that time, my grandparents have died, my neighbor has died, I have inherited the house, and a construction crew is coming by this week to demolish my neighbor's house.

I don't so much mind having the fence up, and I don't so much mind losing a measly eight inches for the privilege, and I have informed the architects/designers/builders of the new house of the situation. My only concern is that they are going to build the new house TOO CLOSE to mine, while disregarding this ages-old Eight-Inch dilemma.

So, have I technically lost and/or thrown away eight inches of my own property if I don't fight this, now, __before__ the permits get through at City Hall and the new home is built?

Also, do I have the right to tear down the fence at any time, since it was built on "my" property? Or, did I give up those rights long ago after some seven-year period since the fence was built?

Seeking the impossible - ethical, reliable investment.

Megami — Fri, 10 Aug 2012 03:46:20 -0800

Seeking the impossible - ethical, reliable investment. We live in the UK. We are lucky enough to have just over 100K GBP in savings. We had money in shares, but took it out a few years ago because it just didn't go with our ethical standpoint. Currently these savings sit in various savings accounts doing nothing much (interest rates for savings in the UK are very, very low). We move every couple of years so buying a home is not on the near horizon for us. We need to have a readily available 'hunk' of cash in case of emergency (for example, all of our family live in Australia and would need funds to return if a family member fell ill or some such).
We are one step away from buying a property in Berlin as an investment. Berlin because it is cheaper than property in the UK (therefore we can buy something for £85K and not go in to debt), because people sign long leases so we know it will have a return for years to come, and we like Berlin. This is not a buying to speculate prices will go up and we will make a killing when we resell the place. It is more like investing with a better rate of return than the bank, and in ten years time at least we have a piece of property at the end of it.
BUT - the thought of being a landlord makes me feel a bit squicky. Thing is, these savings are not something we can really speculate with. Is there some way to invest this money that is ethical (not buying shares, or currency trading, or even becoming a landlord) but has a guaranteed return? Doesn't have to be huge, but has to mean I don't have a chance of making a loss.

Mortgage broker On the Level?

Kazimirovna — Fri, 27 Jul 2012 13:21:17 -0800

Is my mortgage broker drawing out the process on purpose? Is he getting paid now or is it a commission type business? I have been trying to get a mortgage refinance for over 2 months. I know my situation is unusual: after my father's death my mother (they were long divorced) put up the money to allow me to buy out my siblings.
My mother got a loan on her house and used the money to buy the duplex in my name. There was a mortgage schedule for the loan and I made the payments faithfully. I think this was recorded as a mortgage on the building, not as a private matter.
There were other complications, but I'm not sure they are relevant to my question.
It seems that every day he asks me for more documentation for this and that, some of which I think should have been asked for at the beginning but always seem to hold up the closing. Now he says he is trying for a whole different type of loan and the building must be appraised again. What is going on?