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A Cannabinerd's Journey

Dr.D81

Dr.D81

Well-Known Member
AlphaPhase said:
Wouldn't ya know, while we were getting pre-approved for a mortgage, the place we were going to put an offer in was sold. The offer was submitted while we were doing the paper work with the lender. Wtf!!!! Never fails lol. At least were ready now when something else comes along, looks like I'm moving in the next 90 days or less for sure so that's a plus
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I hope you fine some thing better bro. looks like I will be trying to get my crap together to make an offer on a place if I can come up with enough down for them. They want more down than I want to put so we will see.
 
AlphaPhase

AlphaPhase

Well-Known Member
Dr.D81 said:
I hope you fine some thing better bro. looks like I will be trying to get my crap together to make an offer on a place if I can come up with enough down for them. They want more down than I want to put so we will see.
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Thanks bro, and good luck to you too. We only have to put down 5% for fha loan, guess the only difference of putting down 20% is mortgage insurance is needed under 10%. Learned alot today that's for sure. Good vibes for you too brother! What sucks for me is I like about 4 houses and would totally buy tomorrow if they were 30 minutes closer to my girls work :( tons of property in the towns a little too far for us and they are nicer and cheaper! Ugh, I just have to be patient I guess and something will pop up
 
A

adower

Well-Known Member
AlphaPhase said:
Wouldn't ya know, while we were getting pre-approved for a mortgage, the place we were going to put an offer in was sold. The offer was submitted while we were doing the paper work with the lender. Wtf!!!! Never fails lol. At least were ready now when something else comes along, looks like I'm moving in the next 90 days or less for sure so that's a plus
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It's a sellers market. I'd wait another couple years if possible.
 
Mohican

Mohican

Well-Known Member
It took us three years to find this place and we negotiated from April through August and the agents ended up putting in some of their commision to make the deal happen.
We did wait for the bottom of the market to buy and then rented out our old place until the market peaked again. It was hard dealing with two mortgages and unreliable renters.
That was back in 1997.

Good luck!
 
AlphaPhase

AlphaPhase

Well-Known Member
adower said:
It's a sellers market. I'd wait another couple years if possible.
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I wish I could but I just can't keep renting if I'm going to do what I want to do in the future, I really need the land because eventually I'd like to get a commercial license when the new laws change, it's crunch time if I'm going to be able to stick with the industry and it's pretty much my dream :) also the interest rates are sooooooo low right now and the houses around my area here just keep going up in price. What really sucks is I'm stuck to a certain area, there are so many nice places that are a bit cheaper in a few towns over, but they are too far from my fiance job, so we're trying to stay within 30-40 miles from her work.. Which really limits things, but I'm sure something will come around.. We're going to raise our pre-qualified limit today since we went with a lower around since we were really thinking we'd get the place we wanted :(
 
Mohican

Mohican

Well-Known Member
Our first one was a huge fixer upper. It got us started and I am/was very handy. I replaced the electrical and plumbing.

Get something built in the 50/60s. Look in the closets to see whether they have hardwood floors. The toilet lids have dates stamped in the underside. Don't get anything built during the Bush years. It will be full of poison drywall from China. Be careful buying houses from the 70's - they may have aluminum wiring - ask!
 
AlphaPhase

AlphaPhase

Well-Known Member
Mohican said:
It took us three years to find this place and we negotiated from April through August and the agents ended up putting in some of their commision to make the deal happen.
We did wait for the bottom of the market to buy and then rented out our old place until the market peaked again. It was hard dealing with two mortgages and unreliable renters.
That was back in 1997.

Good luck!
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Oh man I can imagine, I Co owned a house in NY for years moved and rented to a friend that trashed the house, I think that's why I'm so anal about keeping the houses I rent in good shape and not damaging anything, it's tough when you grow though, and all the upgrades I want to do will have to have serious modifications here, so I better just move lol. We have until may 15 when my lease runs out, so I hope that's enough time. There are like 5 places I really like and would make an offer today if they were 15 miles closer ugh. I really think the house market is going to keep going up for years on, i feel it's just starting to recover. Nor cal seems fairly cheap though, where I am at least, the places I like are right around 250k with at least 5 acres, some have 10 acres :)
 
AlphaPhase

AlphaPhase

Well-Known Member
Mohican said:
Our first one was a huge fixer upper. It got us started and I am/was very handy. I replaced the electrical and plumbing.

Get something built in the 50/60s. Look in the closets to see whether they have hardwood floors. The toilet lids have dates stamped in the underside. Don't get anything built during the Bush years. It will be full of poison drywall from China. Be careful buying houses from the 70's - they may have aluminum wiring - ask!
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Those are some awesome tips! I never knew any of that and I was in construction for years lol. Things they don't teach us that would actually be of help smh lol

My house in NY was built in the 1800s, the structure was a beast, 4x10 beams all rough cut. They don't make em the same anymore that's for sure
 
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