Interest Rates?

[JsJs24]

Re: Interest Rates?

yeah, looking back in time, with hindsight always better than foresight, in our minds we think 15-30 years is a long time, yet, past 30 it starts to go fast, with a 15 yr mortgage, imho, is always the better buy, a little bit of forced discipline, and the numbers are quite sweet, especially from a cash flow positive perspective on an investment home

good for you, another thing we agree on, lol

I may even put a substantial amount down and finance the remainder on a 5-7 year loan. In this case I would be financing around $50k. That would be like a car payment but I have to run the numbers because it may be better still to do the 15 year and pay it off in 5-7. I just like the discipline factor of ensuring it is paid off in less. It all depends on the price of the home, and with prices as low as they are now where I live I should be able to find a pretty nice bargain. I told my bank that the most I am looking to borrow will be 80-90k and for 15 yrs maximum. For now I am saving as much as I can so that I can put down a huge down payment.

[trip]

Re: Interest Rates?

man, with that plan, js, do some research on taxes depreciation and cap gains etc.

one would guess there is a sweet spot

also, not knowing where you are, you might try low balling some hud foreclosures with cash offers,,,,,,,,,,,,,you'll be buying some crap that will take 3-4 months too fix up on weekends, yet, you cut out alot of overhead and spread

i looked at one two weeks ago with my brother, we agreed on renovation costs not on strategy of how too do the deal so he passed, lol,

listed 76, reno 25, comps 130

i told him 60 w/ 2 week close, he wanted to bid low 70's

i said, dude, lol, on a piece of junk like this in this market, seeing how it was trashed we could have all kinds of shit problems not noticeable

if you got something you like the tax credit right now is sweet, yet, my bet is better deals in oct/nov when banks dump shit that's been sitting on the book for year end right offs, now that they get reserve interest coining money for em