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Anyone like me ? 40 , married with kid and renting...
invite response
2011 Apr 15, 4:18am 26,391 views 87 comments
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Eman
2012 Aug 29, 4:45pm
E-man said: I'd rather take that $500k and invest it. We'll see whose kids will be ahead of the curb financially in the future.
Your kids will thank you for their inherited Prop 13 tax basis.
Unless of course the price remains stagnant or drops.
Totally possible. In fact my educated guess is that home prices will remain stagnant or decrease starting in the 1/2 half of 2013, which is fantastic. It will give me an opportunity to pick up a couple more properties.
I met with an individual from Patnet and her spouse earlier this year. They were interested in investing and flipping properties. However, my conservative estimate of the potential return didn't meet their expectation so we parted. At that time, I suggested buying condos and townhomes if they want to buy & hold. I gave them the parameters and approx location of these units. I hope they did something with the information. I bought two more properties, scheduled to close one more next week, and in contract for two more with my partner since then.
All of the properties that I bought for myself and my partner have appreciated a good $40k-$50k. To be fair, I always offer the property to my partner first, if he doesn't want it, I'll buy it for myself. He reads and posts on here. EBguy knows his handle. According to my partner, these properties are minting money right now.
Properties that I bought in 2009 has appreciated even more. So yes. Prices should stagnate to decrease is definitely in the cards.
I will likely sell most of the properties on the next RE cycle except 3 or 4, which I intend to keep forever. Kids can cash them out whenever. Hopefully the properties will worth some nickels by then. I just want to give my kids a head start. Education is good and all, but I refuse to pay through the nose for it. No freaking way.
JodyChunder
2012 Aug 29, 5:54pm
Totally possible. In fact my educated guess is that home prices will remain stagnant or decrease starting in the 1/2 half of 2013, which is fantastic. It will give me an opportunity to pick up a couple more properties.
Now you are thinking. Stay out of Victorville, though. This is Chunderland.
I met with an individual from Patnet and her spouse earlier this year. They were interested in investing and flipping properties.
Ewww. Step away from the HGTV, nerds.
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I am just curious if there is anyone out there who has a profile like. I am married, 40 and have a daughter and rent in a great neighborhood in LA. Wife and I have always wanted to buy a home but it just seems still expensive. We earn a decent salary way above the average and daughter goes to elementary school which has great ratings. We miss the "living at our own home" feeling and sometimes feel like "losers". Especially since almost all of our small friends circle have bought homes during the peak and have lost on the equity.
Deep within I know we are still way better than other financially and socially. Like we go on cruises, travel around, weekend movies and all that but our friends hardly do that.. So i do understand that even though we dont have a home to call ourselves, our lives are more colorful and merrier than other home owners...
Just wanted to vent and see what peoples opinions are..