Real Estate

[TeasePlease]

LOL that is the funniest post I have seen in months! Brilliant

Yeah, except it doesn't always get you a deal.

I sold a condo to someone who did that. He didn't get a deal though. He wanted my unit on my floor (of which there where only 2). So we agreed on a market value (I was happy) and we split the difference on the sales commission. He saved $5k

 

[mrsCALoki]

Yeah, except it doesn't always get you a deal.

I sold a condo to someone who did that. He didn't get a deal though. He wanted my unit on my floor (of which there where only 2). So we agreed on a market value (I was happy) and we split the difference on the sales commission. He saved $5k

I sort of thought it was a deliberate joke. Would that not be an invitation to every con man in the city? And no broker is sort of high risk unless you are an expert.

 

[goodguy1977]

Hong Kong buyers.

This is the answer to every bubble market... "oil is going to 200 a barrell because of China"... It's the BS answer. If it's investors from HK/China check the Shanghai stock market recently.. then check on China real estate prices... If it's money from there that is here... it's a matter of time before it gets pulled.

Goodguy

 

[LKD]

sure you could make $100,000 plus on a property... it likely won't be in a house. You'd have to sell an apartment or so.

Everyone is trying to make money.. One would have to be really stupid and desperate to sell the house for a big loss. And you'd have to be very quick to snatch it up or have insider connections,

 

[Closer68]

Yeah, except it doesn't always get you a deal.

I sold a condo to someone who did that. He didn't get a deal though. He wanted my unit on my floor (of which there where only 2). So we agreed on a market value (I was happy) and we split the difference on the sales commission. He saved $5k

I hear you, but would he have done better by going with an agent?

 

[mrsCALoki]

I hear you, but would he have done better by going with an agent?

hun, are you thinking of investing in US or Canadian real estate? You are an american aren't you?

 

[Closer68]

US, yes.

 

[SirWanker]

US, yes.

You do have a plethora of foreclosures to choose from, do you not?

 

[mrsCALoki]

US, yes.

So if you buy in Canada you are going to pay full Capital Gaines Tax. If you are buying in US, you face a market re-adjustment within a few years. You really need to get some basic information and a heck of a lot more knowledge before you loose your shirt.

I am spending 3 or 4 hours every day learning how to make money from investments. I have been doing it for over a year now and I barely know enough to not loose money. In theory it will take me another 2 or 3 years to be able to consistently be above the average returns curve.

 

[mrsCALoki]

You do have a plethora of foreclosures to choose from, do you not?

And a heck of a lot more in the near future. lol

 

[Closer68]

Many foreclosures, but the banks are actually quite disciplined in selling them. If they don't get somewhere near market value, they are just holding onto them. They are also foreclosing very, very slowly on people... so many people are just sitting in homes without making any payment whatsoever. I have concluded that dealing with banks is not an option.

 

[mrsCALoki]

Many foreclosures, but the banks are actually quite disciplined in selling them. If they don't get somewhere near market value, they are just holding onto them. They are also foreclosing very, very slowly on people... so many people are just sitting in homes without making any payment whatsoever. I have concluded that dealing with banks is not an option.

If making money was easy everyone would be rich. You have to be bright and do your homework to make money in the investment world. Or be very very lucky.

Market value in the US is a fragile thing. Do your homework. Look up how many properties are currently mortgaged beyond their market value. Look up the amount and the number of properties. That will give you all the pieces needed to predict the market direction.

And of course your banks are not foreclosing. They are trying to get every possible penny before it falls apart.

Sorry guy, you really need to get an education.

 

[LKD]

US, yes.

You do have a plethora of foreclosures to choose from, do you not?

just make sure you don't get a house that was once used as a crack joint. I read an article a few days ago about how a couple thought they were getting the best deal of their life by buying a foreclosed house for cheap. Little did they know what they were really getting. After moving in, the family members started getting sick one by one and started getting rashes and sores all over their body and faces. Through sheer luck and further investigation after talking with a neighbour, they found out the house was used by crack dealers and frequented by people who used it. The house and walls were contaminated with crack and chemicals. Poor little kid they had.. exposed to crack from such a young age.

It seems like the bank knew about it and wont let them off their purchase. They're likely taking the banks to court.

 

[Nate1]

I am spending 3 or 4 hours every day learning how to make money from investments. I have been doing it for over a year now and I barely know enough to not loose money. In theory it will take me another 2 or 3 years to be able to consistently be above the average returns curve.

This is an accurate assessment. Patience is one of the more difficult lessons.

 

[mrsCALoki]

This is an accurate assessment. Patience is one of the more difficult lessons.

And the first couple of millions are the hardest to get