Home buying thread

Captain Suave

Captain Suave

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OU Ariakas said:
Destructive tenants almost do not exist once you get into middle class renters.
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Destructive, perhaps not, but financially unstable, yes. A guy down the street from me just got evicted from a 4/3 in an upscale LA neighborhood going for $4k+. Obviously that landlord should have been more careful, but there are enough mediocre prospects out there that with my 800+ credit that I've been selected for every rental I've ever applied to and been thanked by every landlord afterwards.
 
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TomServo

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Captain Suave said:
Destructive, perhaps not, but financially unstable, yes. A guy down the street from me just got evicted from a 4/3 in an upscale LA neighborhood going for $4k+. Obviously that landlord should have been more careful, but there are enough mediocre prospects out there that with my 800+ credit that I've been selected for every rental I've ever applied to and been thanked by every landlord afterwards.
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Louisiana?
 
Sanrith Descartes

Sanrith Descartes

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Since the Fed won't put the brakes on the economy the banks and mortgage companies decided to do it themselves. 6.875% fuck.

 
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Khane

Khane

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Bankrate and various other sites still listing national average on 30yr fixed between 5.12 and 5.27
 
OU Ariakas

OU Ariakas

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Sanrith Descartes said:
Since the Fed won't put the brakes on the economy the banks and mortgage companies decided to do it themselves. 6.875% fuck.

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Donald Glover Reaction GIF
 
Lejina

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LiquidDeath said:
For the life of me, I can't understand people with smaller (3/2, 3/1, 2/2) homes selling them even if they expect some kind of crash soon.
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Bought my 3/2 in 2017 for 222k and just sold it for 421k. Moved to a 5/2 I bought for 185k.

That one was in Ontario. Id rather get shot in the knee than landlord in Ontario or Quebec. Their laws are favorable to tenants a stupid amount and they only move even more in that direction. Alberta is a lot better in that regard yet still, I only tolerate landlording there because of the pool of military tenants.

Tldr: being a landlord is a pain in the ass.
 
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OU Ariakas

OU Ariakas

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Lejina said:
Bought my 3/2 in 2017 for 222k and just sold it for 421k. Moved to a 5/2 I bought for 185k.

That one was in Ontario. Id rather get shot in the knee than landlord in Ontario or Quebec. Their laws are favorable to tenants a stupid amount and they only move even more in that direction. Alberta is a lot better in that regard yet still, I only tolerate landlording there because of the pool of military tenants.

Tldr: being a landlord is a pain in the ass.
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Not in red state USA!
 
Sanrith Descartes

Sanrith Descartes

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Lejina said:
Bought my 3/2 in 2017 for 222k and just sold it for 421k. Moved to a 5/2 I bought for 185k.

That one was in Ontario. Id rather get shot in the knee than landlord in Ontario or Quebec. Their laws are favorable to tenants a stupid amount and they only move even more in that direction. Alberta is a lot better in that regard yet still, I only tolerate landlording there because of the pool of military tenants.

Tldr: being a landlord is a pain in the ass.
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This.
It's the #1 reason I won't own rental property in NY. Renters have more rights than landlords.
 
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OU Ariakas

OU Ariakas

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Sanrith Descartes said:
This.
It's the #1 reason I won't own rental property in NY. Renters have more rights than landlords.
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It's crazy; in Oklahoma my wife and I started by managing our first two properties ourselves. These were 3/1 @ 1000 sqft and in a middling part of the town. We had a deadbeat tenet in the second year that we were able to evict simply by looking up and following the 5 steps online. It was about $200 in court fees and we never had to involve a lawyer. It took 30 days. I knew then that we would never own homes in purple/blue states because that short, simple process almost put the house in the red because of the lost rental time.
 
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wormie

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OU Ariakas said:
1.) In 2006 and 2007 people were getting banks to finance investment properties at 100% LTV as long as they had a good repayment history.
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Incorrect! Up to 120% LTV with no income verification and no restrictions on loan brokers to provide valid tax returns and much, much more.
 
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Nija

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My parents listed their place yesterday afternoon in southern Missouri. 2k sq ft, 16k sq ft lot, built in the 60s. 4/3. Starting at $240k, they had 4 tours in the 4 hours that it was listed, two offers so far, leading offer is up to 255. 4 more tours were scheduled for today, as of last night. It's up to 6 scheduled tours as of 9am. I'm guessing this ferris wheel will stop in the 280k range? Do you think more?
 
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TJT

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Nija said:
My parents listed their place yesterday afternoon in southern Missouri. 2k sq ft, 16k sq ft lot, built in the 60s. 4/3. Starting at $240k, they had 4 tours in the 4 hours that it was listed, two offers so far, leading offer is up to 255. 4 more tours were scheduled for today, as of last night. It's up to 6 scheduled tours as of 9am. I'm guessing this ferris wheel will stop in the 280k range? Do you think more?
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300 minimum.
 
Lanx

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Nija said:
My parents listed their place yesterday afternoon in southern Missouri. 2k sq ft, 16k sq ft lot, built in the 60s. 4/3. Starting at $240k, they had 4 tours in the 4 hours that it was listed, two offers so far, leading offer is up to 255. 4 more tours were scheduled for today, as of last night. It's up to 6 scheduled tours as of 9am. I'm guessing this ferris wheel will stop in the 280k range? Do you think more?
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idk w/ mortgage rates getting so high now, they might want to take a lesser "all cash" offer, rather than deal w/ mortgage sheneggans
 
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