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Need Advice ASAP - Should I buy this property ?
2011 Jun 17, 2:50pm 2,635 views 9 comments
by leo9 follow (0)
Comments 1 - 5 of 9 Next » Last » Search these comments
B.A.C.A.H.
@
2011 Jun 17, 3:12pm
If you need to ask people you don't know on Patrick.net whether to make a decision to do something, it does not matter what the something is, buying a house or crossing the road with a one-legged chicken, don't do it.
I thinks its worth to know what other people think. There are lot of smart people on this forum
prices will drop.... what looks like a low hanging fruit from far would end up being an overriped one from near.. my advice would be not to buy.
My question is should I buy this property or not ? Some other similar
house in same neighborhood got sold for $599k.
take 1997-98 prices add in inflation 30 to 40%
and that is what it should priced out without bubble.
the difference from your price of $599K is the exposure risk .. bubble prices.
Go ahead, make yourself miserable and stressed out about renters flaking out on you and then having to wait 60 days+ to evict them.
The rest of the money you lose you can just blow on women and booze.
Comments 1 - 5 of 9 Next » Last » Search these comments
I currently live in bay area. I know a realtor who found a short sale
property 3bd 2.5 bath in Sunnyvale area zip code 94089. The price for
this property is around $530K. I currently rent and I can't move to this
property for another 1-2 year as my work is not close to Sunnyvale. I will
continue renting till then. Since its a good deal, I am thinking to buy it
and rent it out. It would rent for around $2000k. If I pay 20 percent down
to buy this property and if I go with 5/1 arm then my mortgage won't be too
high, it may be around $2500.
My question is should I buy this property or not ? Some other similar
house in same neighborhood got sold for $599k.
Please advice.
#housing