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Welcome to the GoFuckYourself.com - Adult Webmaster Forum forums. You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today! If you have any problems with the registration process or your account login, please contact us. |
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08-17-2007, 09:35 PM
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#1 |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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New Home prices are finally dropping - So bought an investment property
All the bad news about people getting forclosed on and banks getting scared to lend money is turning out to be a good thing. I went out looking at investment properties today and ended up buying a new 2100 sq ft house that was listed at $200k, it is not completed yet, but they said it should be done by the end of september. I got a good deal on it, they told me if I could do a quick close they would knock $30,000 off the price - but with investment properties they needed $15k down on the home, so it was to good to pass up. The end price was like 164k
lots of forclosures coming up on the market here also, some decent prices if you shop around. Anyone else buying investment houses? |
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08-17-2007, 09:44 PM
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#2 |
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So Fucking Banned
Join Date: Oct 2003
Location: In a house.
Posts: 9,465
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Where is that at in Vegas?
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08-17-2007, 09:46 PM
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#3 |
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Confirmed User
Join Date: Feb 2002
Location: Las Vegas
Posts: 6,504
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nice, what area?
__________________
112.020.756 |
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08-17-2007, 09:46 PM
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#4 |
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I'm here for SPORT
Industry Role:
Join Date: Jul 2001
Location: Phone # (401) 285-0696
Posts: 41,470
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houses are for panzies. I'm buying commerical real estate these days
__________________
This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog. |
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08-17-2007, 09:46 PM
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#5 | |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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Phoenix area, far SE part area
The news said Vegas was the one of the top cities for forclosures Quote:
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08-17-2007, 09:52 PM
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#6 |
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Confirmed User
Join Date: Feb 2002
Location: Las Vegas
Posts: 6,504
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yeah vegas is like #3 in the nation 1:31 in forclosure
__________________
112.020.756 |
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08-17-2007, 09:53 PM
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#7 | |
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I'm here for SPORT
Industry Role:
Join Date: Jul 2001
Location: Phone # (401) 285-0696
Posts: 41,470
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Quote:
go talk to some bankers. you can take over mortages from people about to be forclosed on. often they will sign it over to you so they dont' fuck up their credit and they have made the down payment - you get them for no money down. i thought this wasn't possible till i asked 2 bankers about it and each offered me 2 properties exactly like this.
__________________
This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog. |
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08-17-2007, 10:02 PM
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#8 |
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So Fucking Banned
Join Date: Oct 2003
Location: In a house.
Posts: 9,465
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If you have cash on hand, this is certainly a snarfer's market.
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08-17-2007, 10:33 PM
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#9 |
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ICQ- five seven 0 2 5 5 0
Join Date: Jan 2001
Posts: 10,747
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rumor on the street is that you can pickup houses for 20 cents on the dollar right now if you know where to look and have a nice group of connections...market is getting nutty out there...hey can anyone lend some money to fucking countrywide already?
__________________
Investor with 5m - 15m USD to invest. Do you have a site or network of sites earning 50k - 200k a month income? Email your contact and preliminary data to: domain.cashventures (at) gmail.com....Please...no tire kickers...serious offers and inquiries only. 
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08-17-2007, 11:45 PM
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#10 |
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Confirmed User
Join Date: Jul 2007
Posts: 1,438
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Vegas is one of the most great place......
all the nice site are their..... |
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08-17-2007, 11:49 PM
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#11 |
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best designer on GFY
Join Date: Mar 2003
Location: IALIEN.COM - High Definition Video and Photographic Productions -ICQ 78943384
Posts: 30,307
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Wait until ya get the Balloon Bill's or the Interest Rate climb in 6 months after the ARM flexes...
Or did ya get a good Mortgage at a fixed rate? Not likely with 15K down but... COuntry wide is fucken toast... Even the VP cashed out some 14 Million in stock... He knows that ship is sinking.
__________________
  NAKED HOSTING FTW!11 I'm On The INSANE PLAN $9.95/mo! | The Alien Blog Adult News Worth Reading Updated Daily | Content For Sale! 641 PICS 216 MINUTES OF VIDEO $350.00 |ICQ: 78943384 | |
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08-18-2007, 12:02 AM
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#12 |
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So Fucking Banned
Join Date: Jun 2007
Posts: 2,036
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Sheesh... Now is that last time I'd choose to buy a home in that market. Next year banks will be begging for anyone to take homes off their hands while they extend their Fed Reserve loans at 5.7% (or whatever percent).
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08-18-2007, 12:10 AM
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#13 | |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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No way I would ever take one of those wierd ARM loans....thats just crazy stuff there, this is a straight investment property. When you go into it as an investment property, and you tell the builder and the bank its investment property, things are a bit different, interest rate is a bit higher and you cannot get in with less then 10% down (through my bank), the 15k is the ernest money, for investors they require 15k down to even start the paperwork, for your personal home, they only ask for $2000 ernest money (around here thats the way it is), interst rate is going to be about 7%, sounds high, but its only for about 2 yrs so its no biggie. In 2 yrs I put it up for sale and collect my profits.
nothing is happening to countrywide, they are still giving out loans Quote:
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08-18-2007, 12:16 AM
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#14 | |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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have you looked at the prices of homes recently - new builds?
they are begging people to take them off their hands. Quote:
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08-18-2007, 01:02 AM
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#15 | |
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ICQ- five seven 0 2 5 5 0
Join Date: Jan 2001
Posts: 10,747
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Quote:
hate to break it to you but from 2 personal sources, no they are not... I had to help line up funding for a loan that is stalled for a 1m property by some associates of mine...and send them to another lending source... This lending source with another 12-20 direct lenders on tap told me that all countrywide loans he's seen processing are also now on hold because they don't have a line of credit to lend from...bad bad bad situation for them.
__________________
Investor with 5m - 15m USD to invest. Do you have a site or network of sites earning 50k - 200k a month income? Email your contact and preliminary data to: domain.cashventures (at) gmail.com....Please...no tire kickers...serious offers and inquiries only.
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08-18-2007, 01:11 AM
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#16 | |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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you have to like those "I heard it from someone who heard it from someone" type things, I did not get my info from hearsay, I called them today and was approved for a no-doc loan
call them yourself, get it straight from them. Their number is on their website. Quote:
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08-18-2007, 01:24 AM
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#17 | |
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Confirmed User
Industry Role:
Join Date: Jan 2002
Location: AZ
Posts: 6,481
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Quote:
I just bought a house in Surprise.But mine is to live in, im 99% sure my house will go down in value in the next year or so but i plan to stay there for a long time and it will bounce back up eventually. I just didnt want to wait any longer get into a house. |
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08-18-2007, 01:39 AM
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#18 | |
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Confirmed User
Industry Role:
Join Date: Jan 2003
Location: Phoenix, Az
Posts: 3,112
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Buckeye is way west, I am near Gilbert and Mesa - My home is on 2 acres, its horse property, been here for 3 yrs now, the place I just bought is about 15 miles from my house
builder is DR Horton Quote:
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08-18-2007, 01:56 AM
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#19 | |
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Confirmed User
Industry Role:
Join Date: Jan 2002
Location: AZ
Posts: 6,481
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08-18-2007, 02:31 AM
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#20 | |
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Troll Patrol
Industry Role:
Join Date: Aug 2002
Location: Local Socal
Posts: 15,214
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08-18-2007, 02:35 AM
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#21 | |
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So Fucking Banned
Industry Role:
Join Date: Apr 2001
Location: the beach, SoCal
Posts: 107,089
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08-18-2007, 02:38 AM
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#22 | |
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Troll Patrol
Industry Role:
Join Date: Aug 2002
Location: Local Socal
Posts: 15,214
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08-18-2007, 02:51 AM
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#23 | |
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So Fucking Banned
Join Date: Jun 2007
Posts: 2,036
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08-18-2007, 02:53 AM
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#24 | |
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So Fucking Banned
Join Date: Jun 2007
Posts: 2,036
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