When is the "right" time to buy real estate?

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  • BradM
    Confirmed User
    • Dec 2003
    • 3397
    #1

    When is the "right" time to buy real estate?

    When should you buy real estate? As soon as you can afford it, or as soon as you have say $X amount saved up.

    Obviously with houses you need a downpayment.

    Aside from that I mean when should you look at a purchase?
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    • MattK
      Confirmed User
      • May 2002
      • 492
      #2
      just borrow as much money as you can and buy as many properties as you can afford, real estate always goes up at least 10% a year or more, it never goes down, ever.

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        • V_RocKs
          Damn Right I Kiss Ass!
          • Nov 2003
          • 32449
          #3
          Originally posted by MattK
          just borrow as much money as you can and buy as many properties as you can afford, real estate always goes up at least 10% a year or more, it never goes down, ever.
          What planet are you living on man?

          If you spend all of your available money on real estate and the market drops out and you lose all of the equity that is being used as collateral for your investments, you will lose all of your investments because the lender will want the collateral.

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            • Veterans Day
              Confirmed User
              • Jul 2003
              • 8403
              #4
              stay away from volatility markets like shithole california, that place is great for over inflation, FHA loans come real cheap at 3% down, or find many home builders letting you now do the grunt work such as landscaping and painting as your downpayment. BUY NOW BUY ALL THE TIME. We own 4 homes and its the best decision one can make as far as investments go.
              Build a Massive Traffic Network, Hands FREE, Totally Automated

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                • BradM
                  Confirmed User
                  • Dec 2003
                  • 3397
                  #5
                  Originally posted by V_RocKs
                  What planet are you living on man?

                  If you spend all of your available money on real estate and the market drops out and you lose all of the equity that is being used as collateral for your investments, you will lose all of your investments because the lender will want the collateral.
                  No kidding. I was wondering what that dude was on.

                  I think he was joking.

                    Comment

                    • MattO
                      The O is for Oohhh
                      • Feb 2003
                      • 10861
                      #6
                      BUY LOW SELL HIGH

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                        • Veterans Day
                          Confirmed User
                          • Jul 2003
                          • 8403
                          #7
                          Originally posted by V_RocKs
                          What planet are you living on man?

                          If you spend all of your available money on real estate and the market drops out and you lose all of the equity that is being used as collateral for your investments, you will lose all of your investments because the lender will want the collateral.
                          what are ya talkin about man, MANY lenders do 100-105-110 and even 115% financing. You pay the note every month is all they care about, we been in the mtg biz for over a decade. Get a clue
                          Build a Massive Traffic Network, Hands FREE, Totally Automated

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                            • European Lee
                              Confirmed User
                              • Dec 2002
                              • 7133
                              #8
                              It would seem that the best time to buy real estate would be after you have spoken to Rochard ;)

                              Regards,

                              Lee
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                                • VeriSexy
                                  Join The Royal Family
                                  • Apr 2002
                                  • 25463
                                  #9
                                  Originally posted by MattO
                                  BUY LOW SELL HIGH
                                  Stop saying that!!!
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                                    • MattK
                                      Confirmed User
                                      • May 2002
                                      • 492
                                      #10
                                      Originally posted by V_RocKs
                                      What planet are you living on man?

                                      If you spend all of your available money on real estate and the market drops out and you lose all of the equity that is being used as collateral for your investments, you will lose all of your investments because the lender will want the collateral.
                                      I know, I was being sarcastic

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