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In United States
Registered Aug 09, 2010
Mark_LA's most recent comments:
- On 29 Jun 2011
Chinese buying US property,
They all moved to my neighboring city of San Marino, CA. The top-rated school district in California by API standards.
They teach the kids there in Mandarin. All the Chinese ex-pat parents hire private tutors for their kids because their English language skills aren't good enough for them to help their kids with homework.
You too can have your kids taught classes in Mandarin in the U.S.A.: For a paltry $875,000 you can buy the cheapest home in San Marino at just $658/sq ft. http://www.redfin.com/CA/San-Marino/470-La-Mirada-Ave-91108/home/7010411
- On 29 Jun 2011
Bidding on a REO property,
Calling the bank's REO department is the only way. RE agents are scum...deal with the listing agent if you want your offer to be presented, otherwise it'll be swept under the rug...unless you lowballed, then they'll present it to the bank to make the offers where they represent both sides look more attractive.
Don't fight the system...use it to your advantage by dealing with the REO listing agent directly.
- On 4 Apr 2011
How much should a $650k house rent for?,
You're surrounded by Perma-Renters here, so nobody has bothered to tell you that with the information you've provided is inadequate to make an informed decision. You forgot to provide this data:
1. What's the best fixed 30 year mortgage interest rate you can get? What's your downpayment? This is needed to compare the Principal + Interest to renting.
2. What's your income (to determine your income tax deduction savings above the standard deduction)? What's your tax filing status (Married Filing Jointly, single, etc)?
3. What's the property tax rate?
4. What's the insurance rate?
5. Is the home located in an area like Las Vegas, Detroit, Phoenix, rural anywhere, where the bubble has finished deflating and there's little risk of home prices being lower 5 years from today? If so, then you can remove the Principal repayment part of your mortgage from the comparison, since that's nothing more than "Forced Savings"...and don't believe the Perma-Renters...they never, ever have the discipline to save that money on their own via cheaper rent...otherwise they wouldn't be Perma-Renters.