(Topic ID: 110193)

Does buying my first house mean the end of pinball?

By eggbert52

9 years ago


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  • 230 posts
  • 96 Pinsiders participating
  • Latest reply 9 years ago by rommy
  • Topic is favorited by 2 Pinsiders

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    #121 9 years ago

    bmw is for dummies...buy a Lexus best value for money... And maybe just don't buy a house in Indy gryszzz? Honestly I wouldn't bother buying anything in fl unless you're in the Mia area... Real estate everywhere else in the state is horrible... We live in a different world than our parents, real estate is a tradable commodity and just like pins, no one wants a crappy title no one hs eve heard of.... Just keep trying to get that unicorn

    #123 9 years ago

    P.s. For all you haters... Just bought my house first house last year... My realtor conservatively estimates I can profit 20% if I sell now... My account keeps bringing me 10% on my fiscal capital... Seems like a lot of people doing something wrong... A new house should never mean the end of luxury purchases if you know how to manage your money... So many people going in the wrong direction with this one!

    #125 9 years ago

    Hmm... Realtor fees are 3% and my realtor is a pretty close friend... I've been offered a price = 25%... I will get more...some markets are luxury markets, like mine... Some aren't, like the entire state of MO... I can sell my house for 20% profit any day of the week... Believe me or not... It's all about investment... I can tell you for sure if you own real estate in MO its a bad investment... Good point about amortization, oh wait, we deal in cash only... Poor fool...next?

    #129 9 years ago

    But why would one leverage in Duluth ga? I mean, the nicest houses cost $200-$300k.... You have to understand what market you're dealing with.... In places like NYC, DC, MIA, SF you get $30/sqft per month... In GA you can rent a 5000 sqft home for like $750/month... Not worth it... If you have $50k in savings talk to an accountant/banker and see what sort of market based account they can set you up with... Deal with the bad years and welcome the good years, a fairly average account should net you roughly 10% (at least that's my experience over the last 10 years)... If you're in the $300k-$1.5m range of savings... Consider real estate in luxury markets (functions entirely different than regular real estate markets) should see gains of 3-5% per year and that's aside of gains from renting... Yeah, that market didn't lose much during the recession either... If you have $2m+ you have to figure out how to be a business man... And that involves bank accounts and real estate investments....

    #130 9 years ago

    Sell it then? Took me long enough to get this property... Sell your unicorn pin once you get it... Wait for a gem, acquire it, and sit on it until the time is right... I have no interest in letting go of something beautiful... I own a 100+ y/o home in Georgetown, DC... Completely renovated to my customization... Would you sell a HUO TZ or TAF or AFM beautifully restored?... Maybe at a certain point... But that time is not now! Only buy the best, that's sort of my point...

    #132 9 years ago

    Anyway, I'm actually a pretty simple man, and I've gotten lucky on some of my investments... Not trying to run anyone down... If you have the money, consider making real estate investments in the right market... If I followed my parents advice, I'd be stuck in some small town paying mortgage on a property that's underwater... If you can afford your current rent, have no wife or kids, consider investing in a property that will increase in value... Properties in random neighborhoods, in random towns, never seem to fit this bill no matter how nice they are... Some developer will just come along and develop something nicer... But in certain markets (luxury) land values will ALWAYS increase (just look at prices in places like Manhattan during the last recession, they never really dropped, just increased at a slower rate!)

    #139 9 years ago

    If energy efficiency is your goal, you don't need some "tiny house"... You can be zero net with any reasonable sized house 2000-3000 sqft as long as you use the latest technologies...

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