Who's smart enough to buy property now?

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  • sweetcuties
    Confirmed User
    • Feb 2002
    • 5859

    #1

    Who's smart enough to buy property now?

    Now's the "perfect storm" to pick up something
  • Sosa
    In Tushy Land
    • Oct 2002
    • 40149

    #2
    If you got extra money laying around to grab some properties and are able to put down a nice sized down payment you can do well.

    Comment

    • Chris
      Too lazy to set a custom title
      • May 2003
      • 27880

      #3
      my folks are on a buying spree
      tons of 100k+ houses ( i live in texas so 100k houses are high end homes )
      they are picking up for 50-75
      [email protected]

      Comment

      • tiger
        Confirmed User
        • Apr 2002
        • 6986

        #4
        Many people are smart enough. But you also need to have lots of cash and be able to get financing.

        Comment

        • woj
          <&(©¿©)&>
          • Jul 2002
          • 47880

          #5
          I don't think it's the best time to buy yet, but we should get there soon...
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          • james_clickmemedia
            Confirmed User
            • Apr 2003
            • 2204

            #6
            waiting for a few months then will start buying some properties in vegas.....
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            • Andy Servers4Less
              Confirmed User
              • Apr 2007
              • 922

              #7
              Ahh I'm happy with my strategy which is to buy at the peak of the market... really happy
              Andy Servers4Less
              www.ServersForLess.com
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              • nosey
                Talk Hard
                • Feb 2003
                • 14413

                #8
                Originally posted by woj
                I don't think it's the best time to buy yet, but we should get there soon...
                soon indeed

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                • SifuE
                  Confirmed User
                  • Aug 2007
                  • 877

                  #9
                  soooooooooon indeed
                  I.C.Q 360-553-673

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                  • ~Ray
                    visit hardlinks.org
                    • Jun 2003
                    • 18361

                    #10
                    Originally posted by james_clickmemedia
                    waiting for a few months then will start buying some properties in vegas.....
                    you should start flipping Plano East. it's due.
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                    • pornguy
                      Too lazy to set a custom title
                      • Mar 2003
                      • 62910

                      #11
                      Looking for a few more to buy now, but I am doing so internationally.
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                      • tranza
                        ICQ: 197-556-237
                        • Jun 2003
                        • 57559

                        #12
                        Originally posted by tiger
                        Many people are smart enough. But you also need to have lots of cash and be able to get financing.
                        hahahaha very good!
                        I'm just a newbie.

                        Comment

                        • candyflip
                          Carpe Visio
                          • Jul 2002
                          • 43074

                          #13
                          We're in the process of trying to secure 40 acres that weren't zone how the developer wanted them to be zoned, so he's dumping them for about 70% of their assessed value.

                          Spend you some brain.
                          Email Me

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                          • Casa Nova
                            Confirmed User
                            • Mar 2007
                            • 2867

                            #14
                            I have been starting to invest in property and stocks now that things are falling.

                            ICQ: 405 009 573


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                            • cybermike
                              Confirmed User
                              • Jan 2002
                              • 4123

                              #15
                              Living in Ny I'm missing out on the cheap houses
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                              • DateDoc
                                Outside looking in.
                                • Feb 2005
                                • 14243

                                #16
                                few more months til prime pickings...

                                Comment

                                • candyflip
                                  Carpe Visio
                                  • Jul 2002
                                  • 43074

                                  #17
                                  Originally posted by cybermike
                                  Living in Ny I'm missing out on the cheap houses
                                  I take it you mean NYC, because I'm in NY (Rochester) and we've got plenty of them for cheap.

                                  Spend you some brain.
                                  Email Me

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                                  • Electric Lights
                                    So Fucking Banned
                                    • May 2008
                                    • 224

                                    #18
                                    Originally posted by sweetcuties
                                    Now's the "perfect storm" to pick up something

                                    No, today is more like the small rolling waves that announce a hurricane is headed your way... it'll be a few years before this market hits bottom. There is absolutely no reason to buy now. If you do, you'll just be part of the losers in the real estate market. Check back in a year, when prices are down another 25% or more, then start looking to buy in 2010.

                                    Comment

                                    • Kevin Cunningham
                                      Confirmed User
                                      • Aug 2005
                                      • 962

                                      #19
                                      Originally posted by Chris
                                      my folks are on a buying spree
                                      tons of 100k+ houses ( i live in texas so 100k houses are high end homes )
                                      they are picking up for 50-75
                                      100k houses are high end homes???????????????????????????????? by high end you mean not super low end??


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                                      • 96ukssob
                                        So Fucking Banananananas
                                        • Mar 2003
                                        • 12991

                                        #20
                                        Mortgage and lending companies are really picky which sucks. I applied for a nice sized house near me for $280k and was told I need to put down at least 20% even on a 15 year mortgage.

                                        mainly, Im a first time buyer and "self employed" so getting mortgage insurance is a bit difficult from what Im told. Its a load of crap tho. My friend makes like $35k a year and got approved for a $150k mortgage and is in debt up to his eyes. I make way more than that, but because i dont have extensive credit history (2+ years) im at high risk.

                                        oh well, looks like ill keep renting for a bit
                                        Email: Clicky on Me

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                                        • slapass
                                          Too lazy to set a custom title
                                          • Nov 2002
                                          • 14625

                                          #21
                                          I know the reasons to wait but I have been buying for a while and will put in more offers this month. I just do not see it going much lower but one can always be wrong.

                                          Comment

                                          • deniska
                                            Confirmed User
                                            • Mar 2001
                                            • 1053

                                            #22
                                            Originally posted by Chris
                                            my folks are on a buying spree
                                            tons of 100k+ houses ( i live in texas so 100k houses are high end homes )
                                            they are picking up for 50-75
                                            50 to 75k should be enough to cover the new york city transfer tax for a new small 2 bedroom condo
                                            Last edited by deniska; 06-09-2008, 02:08 PM.

                                            Comment

                                            • whatthef
                                              Confirmed User
                                              • Mar 2008
                                              • 179

                                              #23
                                              I am

                                              Just bought a condo on the Sunset Strip.

                                              www.justinrubin.com

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