Buy Needles And Syringes With No Prescription
M4B Store Banner
intex
Riptropin Store banner
Generation X Bodybuilding Forum
Buy Needles And Syringes With No Prescription
Buy Needles And Syringes With No Prescription
Mysupps Store Banner
IP Gear Store Banner
PM-Ace-Labs
Ganabol Store Banner
Spend $100 and get bonus needles free at sterile syringes
Professional Muscle Store open now
sunrise2
PHARMAHGH1
kinglab
ganabol2
Professional Muscle Store open now
over 5000 supplements on sale at professional muscle store
azteca
granabolic1
napsgear-210x65
advertise1
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
ashp210
UGFREAK-banner-PM
esquel
YMSGIF210x65-Banner
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store
over 5000 supplements on sale at professional muscle store

Buying a home (USA) in our current economic condition??

Let me put some number to this:

1. Your decision is not simply whether to buy a house. Its rent vs. buy. Rates are at historical lows so a conforming 30 year mortgage is about 4.75% - 5%. Say your starter home is 90k and you put down 10k down payment, your monthly payment is $420 (no stoner joke intended). So ask yourself, am I able to rent a residence of this quality for this price. Even if you are consider after 30 years, you have 90k in equity and a free residence if nothing moves in the housing market. Also consider the interest component of your monthly payment is tax deductable.

2. Will this property appreciate? If you believe markets are stochastic, it's a crap shoot leaving you with a 50/50. However housing is a little different, because it is always worth at least the prepetuity value of rent payments. So say you are able to rent this sucker out at $500/mo. At the current interest rate environment, your value is $120K. So unlike a stock, value will never drop to zero. Second due to continuous population expansion, real estate will become more scarce, leading to value creation.

3. From timing presecptive, rates will not go much lower than the current levels even in a double dip scenario. Housing already suffered a huge decline, even in a double dip, due to the reasons list above, i question how much further it could fall.

So in summary, i think if you could get into a house for 90k and be happy with the place, is its a great opportunity.
 
Toward the question of renting it out later:

When I was first transferred by my company to this state, we only rented, because we did not know the area well enough and wanted plenty of time to really get to know the subleties. We paid for an "executive" rental home, and we took great care of it. We eventually bought a little farm.

Many years later divorce struck, penniless and with my kids, I rented a shack from a slumlord. The landlord did not take care of it, would not fix anything, told me to shower at the gym when the hot water tank cracked. I took horrible care of the place, and left some junk behind when my new wife and I bought the house in which we now live.

I have a close friend that has 50+ properties. My sons have worked for him when he does painting cleaning etc. His properties are immaculate and he is always full, and he has very few payment problems.

Contrast that with the slumlord I rented from. She has 30 some junk properties that attract junk tenants.

My sister and her husband both have second homes they rent -- second marriage for her too, that is why I phrased it that way. They are both nice homes in nice areas. They both have had long term tenants that pay.

Just some real life for you from which you can draw your own conclusions.
 
I am in private equity and real estate for a living. I would not recommend buying a house to live in for two years and then "Rent it out". If I werent't going to live in it for five years I would not buy.

Becoming a landlord should be a separate decision and is often a differnet house/neighborhood/price point than a house you want to live in. In most parts of the country I feel we have a much higher chance of a decline in value than a gain over the next two years.

As mentioned, rates are at historic lows, but keep this in mind: As rates increase, its likely real estate values will decrease to compensate for the higher payments.

I would not advise you to buy at foreclosure auctions without a good bit of prior experience. I've bought hundreds of houses at foreclosure auctions and I still get scared/nervous. Please understand these are as/is, not necessarily clean title in most states, could have back taxes etc. Also most auctions require cashiers checks the day of the auction, which no lender is prepared to do. Please understand this varies state to state. You can now get a foreclosure with clear title off most listing services as good as you can buy at auction with clear title, less risk.

Also please consider that when you convert this property to a rental, the loan remains on your credit and becomes a factor on your "debt to income" ratio that effects your ability to get another home loan or other credit. Yes you can count rental income, but only a percentage of it and some lenders will want to see a year of rental income before they count it.

With these above warnings said, I bought several houses in the last thirty days and have sold a few as well, so this is more "do as I say, not as I do", for what its worth.

Pekkerwood
 
There are a ton of variables that go into your decision. The bottom line IMO is whether or not you can afford it. Regardless of everything I believe you shouldn't let your total monthly expenses vs. your total monthly income at 36%. If it does in the scenario you are considering find a cheaper home or don't buy at all. Investment properties are great but if this is your first time around the block don't start thinking about 1yr, 2 yr. As someone said it is a 5 yr game and you have a lot of things to consider in investing. buy shit property = shitty tenants & spuratic income. Good property your gonna spend more increasing your opportunity of default. It's not an easy game and again its case by base. Find yourself a good loan officer and weigh the options.
 
Thanks for all the great informative responses.... very helpful. I still have not made a decision. I am also looking to start another business so maybe renting should remain a possibility.
 

Forum statistics

Total page views
558,063,035
Threads
135,759
Messages
2,768,704
Members
160,343
Latest member
12cc
NapsGear
HGH Power Store email banner
your-raws
Prowrist straps store banner
infinity
FLASHING-BOTTOM-BANNER-210x131
raws
Savage Labs Store email
Syntherol Site Enhancing Oil Synthol
aqpharma
yourmuscleshop210x131
hulabs
ezgif-com-resize-2-1
MA Research Chem store banner
MA Supps Store Banner
volartek
Keytech banner
musclechem
Godbullraw-bottom-banner
Injection Instructions for beginners
Knight Labs store email banner
3
ashp131
YMS-210x131-V02
Back
Top