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 Statisticons_win
Stranger
Registered: 03/20/09
Posts: 2,372
Last seen: 5 months, 7 hours
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 Re: What is the best investment right now? Stocks, RE, gold, etc?  [Re: ArmFromTheAbyss]
#12419641 - 04/19/10 12:24 PM (3 years, 1 month ago) |
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Quote:
ArmFromTheAbyss said:
There's a huge difference between places like NYC and LA vs Detroit and Ft. Lauderdale. What region are you in Stonehenge?
How much are you borrowing/down-payment? Worst case: if prices don't rise and rents fall, and you can't refinance or meet your monthly payments
Quote:
geokills said:
While it is possible that property value could reflate to the previous highs within five years, I believe it is much more likely that it will take 10 - 20 years to see the old highs again in real estate.
 Bingo! Stay liquid.
\
what about property investmenta as a hedage against the cost of child's college expenses?
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SheikCorp
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Registered: 01/09/08
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12419830 - 04/19/10 01:00 PM (3 years, 1 month ago) |
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Makes me wanna get a fixer upper. So in order to buy a house, besides money what do you need? A Realtor? Do you need some sort of a lawyer? Wish i had some sort of list of directions... How much does a person generally need saved up for the other expenses and costs and fees, the ones that get tacked on, like Realtor fees, closing costs, surveys, inspections, what ever else I'm missing.
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Stonehenge
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: SheikCorp]
#12421833 - 04/19/10 07:23 PM (3 years, 30 days ago) |
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You don't have to have a realtor. You can try to buy directly from the owner or from the listing realtor. When you go through another realtor they split the commission with the listing agent. Its like having a buyers agent and supposedly they try to get a good deal for you. I use them because it costs me nothing usually. But you have to be careful because some realtors charge a fee to buyers whether they list it or you go through them to buy it from another realtor. The fees can range up to 400 or 500. It pays to ask that upfront.
The title companies rip you off enough so you don't want to pay any extra fees if you can help it. When i make my offers it says the seller must pay title insurance. That saves you some money, usually about 400 or so. But then the title company gouges you for some more. And there are doc stamps to pay. That cost can range from nothing to over 1% of the purchase price of the house. If you are buying a 100k house, you fork over 1k just for that. And if you are buying with a mortgage, they charge another little percentage for that.
And all of that, except for the mortgage fee, applies even if you pay cash. If you have to get a loan to buy it then expect to pay a ton of fees in addition to the ones mentioned. They will give you a teaser rate, perhaps 5% if you are buying to live in, more if you are buying just for an investment, and then they jack it way up. They will charge various fees sometimes called origination fees, finders fees, administrative fees, etc. The points up front may be from 1% to 5% or even more. Then at closing watch out for those little extra fees. It might be overnight fedex to send documents out, copy fees, document review fees, etc etc. There might be a whole page of fees. They are supposed to give you a good faith estimate of what it will cost but they invariably go over that figure and put weasel words in to cover their ass like "there may be other costs due on closing"
And you will probably be getting homeowners insurance. If you are financing then the bank or lender will definitely demand it. That can cost from 1k to 3k or more per year, payable in advance. And then after you have leaped over all the hurdles, paid through the nose and mortgaged your life away, then you have to pay deposits and turn on fees for water, electric, cable, phone, etc. And of course there is always work to be done before moving in like clean up and little fix ups that you didn't notice when you looked the house over.
Be that as it may, this is a great time to buy r/e. I said back in feb and march of last year that it was a great time to buy stocks, and it was. I just bought a house for less than what it sold for 25 years ago. And back then it had a carport, now it has a fairly new garage with a door opener. The roof is fairly new too but the house does need some work. I paid 40 and expect (hope) to get 12 a year out of it in rent.
The property i just bid on the offer expires today and i haven't heard anything so i guess they turned it down. That was the one they wanted an extra 2k over my bid. Nope, the rebate ends this month and prices will drop some more. I'll get my price on it or something even better.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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 Shins
Fun guy
Registered: 09/15/04
Posts: 11,284
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Statisticons_win]
#12424013 - 04/20/10 01:07 AM (3 years, 30 days ago) |
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Who's going to fuel housing demand? interest rates can't go any lower and everyone is broke.
Houses are for living in not for flipping a profit. Housing has been temporarily propped up with bailouts and low interest rates. Once those end, so will any real estate gains.
(In my opinion)
I'm a fan of commodities and resources.
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Stonehenge
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Shins]
#12426364 - 04/20/10 02:22 PM (3 years, 29 days ago) |
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Shins, housing is a commodity same as wheat, gold, or labor.
"Who's going to fuel housing demand?"
There will always be a demand for someplace to live. Whether they can afford to buy or not is another question. I've noticed that home prices have dropped a lot but rents have not come down much at all. It use to be that you might have to rent out a house for 15 or 20 years to get back your investment in rent. Now, if you buy right it could be 3 to 8 years. Mostly the lower prices homes give the best rate of return on rent since a small 1-1 costing 25 to 35k is still worth 600 to 800 a month rent in my area while a 200k home will rent at maybe 2k a month, if you can find someone with that kind of money. Even at 2k, the 200k home will take 8 years neglecting costs and figuring in insurance, maintenance, and taxes, it will take more like 12 years or more. The cheap 25k house will pay for itself in 5 years because taxes are much lower etc.
As for finding buyers, it will take a while for the economy to straighten up but the less buyers there are the more renters there are. When inflation hits the values will go up accordingly along with rents.
I will agree this is not a good time to try to flip. If you buy a house, figure on either living in it or keeping it a minimum of 3 to 5 years. That's what i plan to do. You can buy gold but it pays no rent plus you pay for storage. I do think gold is a good investment since it involves no upkeep but the only profit you make is from speculation.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12585413 - 05/18/10 02:38 PM (3 years, 1 day ago) |
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I made an offer of 20k on a house, they turned it down and 3 weeks later they sold it for less than that. What the hell???? I saw the price reduction and called my realtor. She was busy so she could not get to it until late the next day. By then they already had a contract on it.
Today i saw a house at a price i wanted and called another realtor. I was going to place an offer the same day but it was already taken. You have to be fast.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12626683 - 05/25/10 05:38 PM (2 years, 11 months ago) |
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I just put in an offer today on a house. It's a 3-2 with over 1200 sq ft. I offered 20k and asked that they pay the closing costs. I don't know if they will accept but they might. It is totally trashed inside. Some of the walls are bashed in, the rest are scribbled with writing. The ceiling is torn down in the kitchen and there are problems all over. The carpet is dirty and soiled. The central ac unit outside is destroyed. I figure it will cost me from 5 to 8k to rehab it. Unless i find more problems. The roof looks fine, it looks great from the outside and has a nice porch and yard. Decent neighborhood.
If i get it i'll rip out the carpet and put in tile. I already have a good tile guy. It cost me only $3.50 a sq ft for the tile in my other unit and it looks good. It gives me a chance to launder soft cash i may have. Relatives gave me cash over the years and told me not to spend it or tell anyone. That's my story and i'm sticking to it. The realtor said i could flip a 3-2 for 60 to 70k even right now if it looked nice. I might give him the chance. If i can make a fast 10k it might be better than squeezing every dollar out. And the money spend rehabbing becomes nice and squeaky clean profit. Might be taxed at short term rates, that's the only drawback. But i could buy something else.
I got an estimate from a local ac guy on the unit i'm rehabbing now. It will be 1k for a used condenser with a 1 year unconditional warranty on parts and labor. It's an outfit i've heard about before. I'll let them do the next unit if i get it or whatever i end up getting if they do a good job. I'm thinking about putting in granite counter tops in the one i have now. I got a good price, about 1.7k for counter tops and cabinets including labor. Then the whole house will be brand new or remodeled. Should be worth something.
The nice thing about r/e is you get a rent money return of between 15 and 30% on investment depending on how well you buy it. I buy foreclosures which need a lot of work and which most people won't touch. The banks have tons more foreclosures in the pipeline and have to clear their books somehow. If you know how to get them fixed cheap or can do it yourself, you might do very well
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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iluvfungi
Registered: 06/18/09
Posts: 1,488
Loc: Oakland, CA USA 
Last seen: 2 years, 4 days
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12632188 - 05/26/10 03:54 PM (2 years, 11 months ago) |
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Well if you want to ride the wave in stocks right now, a bunch of stocks ride the wave of the DOW precisely, but in higher percentage differences.
Search google stocks for stocks at ~$9-11 that move a bunch and are traded in volume. Then just day trade. You need a margin account for Shorting.
Unfortunately you can't buy penny stocks on margin. You have to do that with cash.
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Stonehenge
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: iluvfungi]
#12632616 - 05/26/10 05:26 PM (2 years, 11 months ago) |
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iluv, that is little more than a crap shoot. The chart people at least have a plan though to me it's voodoo. The dow has been headed down for a while. If you know a stock, know something about it and have reason to believe it will go up, then you have a plan. Or if you have reason to believe it will drop, then short it. Shorting the dow might be a good move.
The one i offered 20k on yesterday said no. They countered by asking for 25.5. I countered by saying i was not interested. It's probably worth 25 but it takes so much work that unless i can steal it, i'm not interested.
Today i put in an offer on a house that just came up and they were asking 23.9. It was concrete block, 2-1.5-1 and the garage was big and the main bathroom was nice. It had tile in the kitchen and dining area, crappy rugs in the rest of the house and mold on the walls near the floor. Lots of mold but the house was dry and the ceiling and roof looked good. It had a storage shed and a good sized lot on the corner. I offered 23.9, the full asking price and i just hope i get it. It's a steal even though it needs work. I'll fix the mold first, probably have a pro clean the walls and coat them with something. Then rip out the carpet and put in tile, paint and fix up. A concrete block home with 1000 sq ft in a decent area like that is worth some money. It sold for over 130k in '05. Someone was looking at it before we got there and while we (broker and i) were looking at it, a family came up and wanted to see it. I said i was done looking and he said they could not see it because he had to lock up.
We rushed back to his office and put in the offer at about 4pm. I think i have a 50/50 chance of getting it since i offered full price. But, very likely they will say "we had multiple offers so submit your best and highest offer" in other words open it for bidding. My offer was for 24 hours only. I'm hoping someone at the bank looks at it and says "full price, lets grab it before he changes his mind" and sends a confirmation. I will jump all over it and close soon as i can. I'd rather have this one than the 3-2 with 1200 sq ft that needed so much work. This one i can fix up in a few weeks i think and it's block which everyone wants. I'll go back to the dirty dog 3-2 in a week or two if i don't get this one and renew my offer. They may be ready to deal by then.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12645107 - 05/28/10 02:34 PM (2 years, 11 months ago) |
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The bank did not give me an answer to my full price offer on the house. They are still playing games. On thursday they said they would not give an answer until friday. Their realtor told mine today (friday) that the bank now won't give an answer until tuesday. Tuesday it will be some new story. I'm still fixing up the one i just bought so it's ok. This is the kind of crap you run into. If they accept your offer right away you probably offered too much.
The market is back down, it rallies every so often just enough to keep the suckers coming back and then it goes down, down, down. Anyone look at the charts for the great depression? The first great depression i mean. We are in the second one and do not believe it when they say the recession is over. Later they will say they meant it's no longer a recession its something worse.
In the first great depression, stocks fell sharply and headed generally down. Then after a year or two they seem to be picking back up and it looked like the troubles were over. Then it crashed again but not all at once. It sagged down with a rally here and there. Then it picked back up and another crash. History repeats itself. Get in when it looks like all hell is breaking loose and get out when they tell you happy days are here again.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Shins
Fun guy
Registered: 09/15/04
Posts: 11,284
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#12645788 - 05/28/10 04:32 PM (2 years, 11 months ago) |
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I've got to reply because this time is different than the first depression. Back then there were a lot more savings and the currency was more sound. This time the debt levels are insane and the saving's aren't real. We're much worse off this time, i wouldn't use the first depression too much as a guide because this one is going to be a real doosy.
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Stonehenge
enthusiast
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Shins]
#12667440 - 06/01/10 06:14 PM (2 years, 11 months ago) |
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Shins, i'm not sure what your point is or if you are disagreeing with me and on what? I just got done saying we are headed into a depression and you say no, its a depression or a doosy or something. OK.
Just as i predicted, the bank is still playing games. I finally got some sort of an answer today on the house i made a full price offer and it was "since we have received multiple offers..." just as i predicted. And they want me to bid again along with whoever else bid on it. They did say that price is not the only factor. I offered all cash and would take it as is with no conditions. I figure i'll up my bid after i take a better look at it tomorrow. I got an estimate on a company to clean out the mold for about $350. That was the only problem i saw besides dirty carpet and a few minor things. I think it's worth 40k fixed up. So if i can get it for 26, it might be a good investment. I can rent it for 700 easy, probably a little more. If i have 30 in it after it's nicely fixed up, 700 a month 1 month empty per year and taxes leaves a profit of about 6.5k which is over 21% return on investment. That does not take into account price appreciation over the next few years. If i rent it for 5 years i get my entire investment back. Whatever i sell it for then is all profit.
While i was typing this i got another call from the realtor. He said the seller got 20 offers on the house. No way in hell my offer will be highest, even at 26k. It's another lost cause. When i'm not the first one there, i'm too late and they took another offer. When i am the first one, i'm still out of luck because they change the rules.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
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Posts: 3,768
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13068404 - 08/18/10 12:57 PM (2 years, 8 months ago) |
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Update:
I have put in a few offers but all got shot down. When i see a house i like, seems like everyone comes out of the woodwork to bid against me. My only shot at a good deal is a house that needs a lot of work. Even then some fool may bid too much.
My latest effort is a 2-1 concrete block with tile floors and 800 sq' living space. It has central heat and air, or i should say, it use to have central air. All that is left is the duct work. I have to replace the compressor and air handler if i buy it. Also the roof is shot and needs total replacement plus a lot of interior work. Also, windows and doors. I figure at least 8 to 10 to make it nice. That's if no nasty surprises come along.
They are only asking 17.9, it's a reo or bank repossessed property. I offered 19 even. I'm tired of being elbowed aside so i offered over the asking price and i still only have a chance at it. We put "highest and best offer" on it and the jerk agent on the other end called to ask if it was the highest offer i wanted to make. I'll find out by next week what the story is. They usually play games.
A couple houses i bid on they turned down my offer and later sold it for less than what i bid on it. But they say even a blind hog finds an acorn now and then. My other investment house is coming along but i've been lazy and slow. If i get this next one and fix it up for 10, it should rent for 750 which means it will be paid for in about 6 years. And the value might be double by then. Not bad but a lot of work has to be done in the meantime.
The stock market gyrates up and down. They say the recovery is well underway but i don't know anyone who believes that.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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ZippoZ
Knomadic
Registered: 06/17/03
Posts: 12,629
Loc: Pongyang, North Korea
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13072739 - 08/19/10 11:17 AM (2 years, 8 months ago) |
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i bought a cheap house, paid like 8,500 for it. i have to tell you, things like a complete roof replacment, windows, and doors.... are pricey. you could easily drop 8 on the roof alone, and windows arent cheap either. figure $225 a piece at the absolute cheapest, and likely more than that. messing with the HVAC system wont run you less than a grand or 2 if you're lucky.....
i learned my lesson buying and repairing my place. now, im looking to sell it and just get something small, a condo, no maintenance, on a golf course with some pools i can use.... im thinking vegas 
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PEACE
 zippoz
"in times of widespread chaos and cofusion, it has ben the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m anagment, too much programming and controll, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption"
"People do it every day, they talk to themselves ... they see themselves as they'd like to be, they don't have the courage you have, to just run with it."
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Stonehenge
enthusiast
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Posts: 3,768
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: ZippoZ]
#13073297 - 08/19/10 01:51 PM (2 years, 8 months ago) |
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Just got word that they accepted my offer. 19k for a 2-1 block with tile floors. I was going to offer 20.1 but cooled off over the weekend and only offered the 19 and then they called back to see if that was my highest and best offer. Naturally i'm glad i didn't offer any more. I have to look at the details, my realtor couldnt tell me at the moment what they were so i don't know if it's a counter offer at the same price with conditions or if they accepted the offer on my terms. The realtor said i had 24 hours to respond which i don't believe was in the original offer. So if i change my mind i can just reject the counter. Actually, there is little they can do or will do if i backed out even if they took my offer.
It's cheap but there are lots of cheap properties and this one needs a lot of work. It needs a roof pronto. But if i have 30 in it and it's beautiful, a block home with cha and tile floors is worth some money. I could do worse. It's close to my other property.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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Stonehenge
enthusiast
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Posts: 3,768
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13133958 - 09/01/10 04:07 PM (2 years, 8 months ago) |
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As so many deals do, this one fell through. The bank got greedy and tried to jerk me around. I offered more than they were asking, took it as is and agreed to close promptly. I was apparently the high bidder but that wasn't enough. They decided to rewrite the standard contract i offered. Those have been vetted by lawyers and do not favor buyers or sellers. So the bank stripped out everything that protected the buyer and gave me a counter offer that was totally one sided.
They agreed to my price, earnest money, inspection period and closing date. Then on the rest of the first page they diddled about this and that. On page two they got down to the serious screwing. They said i was obligated to buy but if they found a higher offer they could take it and drop me without penalty right up to closing. That was a deal breaker right there. Then, instead of paying the title insurance, they cut that out but you had to read carefully to realize it. I got my inspection period but no matter what the inspection turned up, i could not back out without losing the earnest money and possibly being sued for specific performance. So the inspection would be a joke. There was also a mention of a $25 per diem with no explanation. My guess is that would be interpreted as meaning i had to pay them 25 a day from the day i signed the counter to the day of closing.
I would have to want the house awfully bad to go for all that bs. Then i found that of the other 4 houses around the one i looked at were 3 vacant and 1 for sale. All vacant ones were owned by the same guy and not for sale or rent. Just sitting there rotting with overgrown lots. The guy was there when we looked at it and i found out later he gave my realtor a hard time after i left. She said he was "irate" and said he owned all those homes. He presently owns 3 and use to own them all. When i went back to take a second look, i heard a loud voice outside and when i went out, i saw him walking away back to one of his houses. No one was around, he wasn't talking to anyone, he just came up and ranted toward the house like a nut. Would you want to live next to someone like that with the other houses vacant except 1? On the other side of the fence was a trailer park which is not a plus either.
I think they did me a good turn rejecting my offer and getting greedy. I walked away and would not have given 18 for it after further thought. Moral of the story is do not trust banks, read the fine print and if you aren't sure about something, ask a neutral person who would know. The realtor is not neutral, they want to get that commission. I will keep looking and no doubt will find a few in the future.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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tusca
Wanderer
Registered: 06/22/10
Posts: 507
Loc: MK-5
Last seen: 1 month, 17 days
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13140098 - 09/02/10 09:40 PM (2 years, 8 months ago) |
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Rare Earth minerals, we will be running into shortages soon
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Stonehenge
enthusiast
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: tusca]
#13294450 - 10/05/10 06:20 PM (2 years, 7 months ago) |
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Minerals are going up. Gold is way over 1300 now
I started to make some other offers but there was one that just came out, my realtor checked and they already had a contract on it. Today i made an offer i think might go through. It's a 1080 sq' with cha, tile and hardwood floors, 1 1/2 baths, electric storm shutters and a large screened porch. It also has a fence and storage shed in back. The neighborhood is not bad. I would call it an "a" neighborhood. Double a would be higher priced homes and triple a would be $1m on up. It's a nice decent neighborhood and the houses are kept up.
The stove and fridge are present and look like they are working. There is a garbage disposal and ceiling fans. Nothing looks like it needs work but a close inspection shows a couple very minor things. I could rent it out the way it stands. They were asking 30k and the other realtor said they already had a couple offers. It was on the market a long time starting at 140 and just a couple days ago dropped from 63 to 30. I made an offer for 35.1k. Yes, i offered more than the asking price because this house was nice. I've been elbowed aside so many times i know i can't get something for nothing. Even the ones that need a ton of work get snapped up if they are priced right. This is priced right and does not apparently need work. I have the right to back out if it does not pass my inspection.
My other property is coming along and i think i found someone to do the kitchen and a few odds and ends. I need to have them both ready to rent because the season will be starting soon. I may not get this one or they may come back with another ridiculous counter offer. It's a short sale so the bank has to sign off on it but apparently they are cool with 30k so 35 should make them happy.
Is this cheap compared with cali, geo or anyone? I hear you can't get a cottage for that.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙
Registered: 05/08/01
Posts: 17,709
Loc: city of angels
Last seen: 2 days, 16 hours
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 Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: Stonehenge]
#13294532 - 10/05/10 06:35 PM (2 years, 7 months ago) |
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The thought of obtaining a home for $30K here in California is laughable.
Maybe a shed or a trailer... and outside of any major city limits at that.
I wish you good fortune with your investment property!
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┼ ··∙ long live the shroomery ∙·· ┼
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spirodj
ni hao
Registered: 10/01/10
Posts: 9
Loc: Serbia
Last seen: 2 years, 5 months
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Re: What is the best investment right now? Stocks, RE, gold, etc? [Re: geokills]
#13297550 - 10/06/10 09:13 AM (2 years, 7 months ago) |
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Quote:
geokills said:
The thought of obtaining a home for $30K here in California is laughable.
Maybe a shed or a trailer... and outside of any major city limits at that.
I wish you good fortune with your investment property!
I really don't know if it is try but you should watch this:
39k home California
There are couple of parts with prices I'm not sure if it is in 4 part or some other video part. Was watching it few months ago.
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