ohnoone Posted March 1, 2007 Share Posted March 1, 2007 having a ton of money for a down payment is key, as is having someone to split the payments. Quote Link to comment Share on other sites More sharing options...
optimus prime Posted March 1, 2007 Share Posted March 1, 2007 20% down is nice and you won't need to get mortgage insurance. But you could always finance 80/20 as well to avoid paying the insurance. Bigger down payment will also help your interest rate. Quote Link to comment Share on other sites More sharing options...
mr.yuck Posted March 1, 2007 Share Posted March 1, 2007 Tease buy a duplex. That way you can rent out half of it and pay little to nothing to live in the other half. Just save your money for when people stop paying rent and other silly shit. Tease. Buy a duplex. Fix up the half you live in. When you are done, boot the people renting the other half out or offer them the opportunity to move into the newly renovated unit for more money a month. Then fix up the other side. Rent both sides out for more money and buy another duplex. Repeat this process for the next 10-20 years of your life. Quote Link to comment Share on other sites More sharing options...
rushawn wuan Posted March 1, 2007 Share Posted March 1, 2007 i wasnt trying to be funny, i was trying to knock some sense into this kid. 800-1100 for a house? seriously? have you actually looked into this or are you just throwing numbers around? a 3 bedroom house for 1100 a month sounds completely outrageous to me. maybe its because its texas, and we all know texas is a synonym of suck. but seriously, if thats how much a morgage is out there i'm going to start buying a lot of real estate out there. a few friends i know have relatives who moved to texas and bought homes there same size as in cali , even a lil bigger, brand new for half of what they would sell in the bay area dude. Quote Link to comment Share on other sites More sharing options...
iloveboxcars Posted March 2, 2007 Share Posted March 2, 2007 fuck that shit. fuck texas. Quote Link to comment Share on other sites More sharing options...
Dirty_habiT Posted March 2, 2007 Share Posted March 2, 2007 Quote Link to comment Share on other sites More sharing options...
THANKYOU Posted March 2, 2007 Author Share Posted March 2, 2007 cali is super inflated out there in the housing market... everyone knows that. my dad again is a stock broker and has tons of his cali clients buying property here. you can get crazy big houses for $500k... like shit you might find on cribs. nice decent homes run anywhere between $120-350k. in pretty good areas. and im in austin for whoever asked. houston i believe is more expensive, one, because there are like 40 billion people living there, and two, because there's oil money, and "old" money there... houstons where im from and i got fam there still, shits not cheap, but the women are off the hook. prices here in austin are probally below the national average, but we're catching up quickly according to my dad and his market analyst type shit.... the problem with austin however, is that its a lot of tech companies, and things of that nature, so if there was ever a big lay off, you'd be fucked finding a job for the most part. lot of qualified people here... supposively speaking. my house is going to be baller when i get it, ill post piks. Quote Link to comment Share on other sites More sharing options...
After School Special Posted March 2, 2007 Share Posted March 2, 2007 HOUSEBOAT FTW!!!! Quote Link to comment Share on other sites More sharing options...
Poesia [ ] T Posted June 5, 2007 Share Posted June 5, 2007 This is crazy there are threads in here for everything. That being said it might be a little late to post but hey. Having been locked in the Real Estate industry in the bay area the last 4 years and currently owning a real estate company i might be able to give u some basic advice. Condo Vs house isnt usually the question its what can u afford, and in your area everything is pretty affordable. The problem with texas is that property taxes are almost double or 3% add that to the HOA maintance fee and that could add up to atleast an extra 500 dollars a month on a 300K condo. So unless you really want a small condo in texas there are plenty of houses available in the Area. Texas is a pretty basic market good jobs in most areas but higher taxes make appreciation slower than other cities. If you plan to have the house for longer than 3 years you may be ok as a long term plan. Investment for quick money in todays market is pretty much over unless your in the northwest were there still is a lack of supply and good appreciation. Dont get caught up in new development in texas unless you really want a new house, so many builders built houses and speculative investors have made them not a wise investment. There is a huge inventory in the midwest of houses that were built and all bought by investors, after they were built they sold right away for fast profit and this lead to the eventual decline and huge inventory. Huge Supply Low demand, Lower Prices equals negative appreciation. I would rather search older areas with larger lots so you can throw bigger parties, older houses are easier to gain instant equity as if you are a good negotiator and do some small repairs you will see a bigger profit in a faster amount of time. When buying an older home the sellers usually have alot of equity to work worth so they are very negotiable on price and easier to allow cashback to you for repairs or just help towards your downpayment. Most older home sellers are wanting to move up and into these newer homes. As Newer homes are built almost next each other with small lots they make themselves basic and to me not much of an investment unless you bought first phase 2 years ago and it was built today. Atleast you could have bought the first model for 185K and now they sell the same model in a higher phase for 285K. I would not hesitate to buy anything wether condo or home just make the decision and do it if you can afford it. The tax benefits of your mortgage interest in california not sure about texas tax laws, but it is worth the investment itself. Quote Link to comment Share on other sites More sharing options...
tango 24 Posted June 5, 2007 Share Posted June 5, 2007 perth housing market is no good for buyers prices through the roof im looking for a new place to rent and shit is expensive as hell Quote Link to comment Share on other sites More sharing options...
23rakim45 Posted June 5, 2007 Share Posted June 5, 2007 ^ Perth, Australia?! There's another Perth?! I'm looking at copping a crib by the end of the year. Luckily in Australia the government got you covered with a $AUD7,000 First Home Buyer's Grant. Quote Link to comment Share on other sites More sharing options...
Blood Feast Island Man Posted June 5, 2007 Share Posted June 5, 2007 I already own property. in central london. I'm sorted for life, basically. Quote Link to comment Share on other sites More sharing options...
Mauler5150 Posted June 5, 2007 Share Posted June 5, 2007 What Perth were you thinking of rakim? Not just that, but no stamp duty for homes less than half a mill for first home buyers is a huge saving too, but there is just no supply, as all the people with investment homes don't want to sell as they lose all the gains to capital gains tax. There needs to be a decrease in that tax to make people with many investment properties more inclined to sell. Quote Link to comment Share on other sites More sharing options...
fatbastard Posted June 5, 2007 Share Posted June 5, 2007 Theres a something on A Current Affair tm night about suburbs in perth that havent been affected by the boom, and property available for as low as $280k. I know what you're thinking though must be in the ghetto/stick area's. You're probably right. Quote Link to comment Share on other sites More sharing options...
tango 24 Posted June 5, 2007 Share Posted June 5, 2007 fuck living in balga/whitechapel someone dig up that gta:balga pic shit was funny as hell Quote Link to comment Share on other sites More sharing options...
Blood Feast Island Man Posted June 5, 2007 Share Posted June 5, 2007 fuck living in balga/whitechapel someone dig up that gta:balga pic shit was funny as hell this whitechapel? Quote Link to comment Share on other sites More sharing options...
shitting Posted June 5, 2007 Share Posted June 5, 2007 I put the house on the market on Friday morning and I accepted an offer Friday night. That's how fast it sold. . what the fuck? Quote Link to comment Share on other sites More sharing options...
tr808 Posted June 5, 2007 Share Posted June 5, 2007 i owned a condo....worst experience of my life couldnt pay me to do it again... Quote Link to comment Share on other sites More sharing options...
Mauler5150 Posted June 5, 2007 Share Posted June 5, 2007 GTA: Balga? What the hell? I remember this from Myspace, I saw it somewhere on somebodys profile. I have no idea how you would find it again Quote Link to comment Share on other sites More sharing options...
shitting Posted June 5, 2007 Share Posted June 5, 2007 tease you really bend over and ask for it Quote Link to comment Share on other sites More sharing options...
Joker Posted June 5, 2007 Share Posted June 5, 2007 Poesia? Damn... haven't heard that name for a while. Quote Link to comment Share on other sites More sharing options...
Poesia [ ] T Posted June 5, 2007 Share Posted June 5, 2007 Poesia? Damn... haven't heard that name for a while. Yup been working alot started a company. Im settling in so now i have time to start to think about art again. Quote Link to comment Share on other sites More sharing options...
angelofdeath Posted June 5, 2007 Share Posted June 5, 2007 all the easy money with the house flipping game is over. the real estate bubble has burst in most of the country. granted there are some places where real estate is still soaring, but they are few and far between. in my area, its a buyers market, and in some areas, prices are actually falling. foreclosures are going up. on this note, its the perfect time to buy. just dont overpay. dont get some stupid mortgage. dare to be contrarian. Quote Link to comment Share on other sites More sharing options...
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