Threads like these show you who didnt have a resposible father figure in their lives...
" I own a home"
- Thread starter BlackBall
- Start date
My bad. Crossed you with Panther.
cleanface coney
WENT LEGIT
sometimes i wish i was licensed in ny, i was thinking about testing but a lot of people say y'all mean as hell and too many investments/fees are crazy lol
but honestly thats good move just stay on top of your finances and stay aggressive…arms are perfect for what you're trying to do
seriously….unless you getting an amazing rate on a fixed loan, you should go arm…people are scared of it though
I had an arm before on the current property I live in now but that shyt expired in 08 when the financial world was upside down and shook me into getting a fixed. The more I realize i messed up in getting the fixed because comparables in the area are no where as high as mine would. I want to cash out now and go elsewhere; preferably somewhere stable and desireable that can pretty much pay 3/4ths of the interest only payment. My salary would be used to pay towards principle and upkeep. What banks would you suggest I go to because in NYC most banks arent even trying to do 7/1 without 25% down on a 2 million dollar property
cleanface coney
WENT LEGIT
i don't know any banks in NYC my
I'm on vacay for 3 weeks but i just shot my boy a text and told him your situation… he a purchase banker licensed in ny, see what we can do
cleanface coney
WENT LEGIT
@Tupac in a Business Suit
we don't offer jumbos on investment purchases you would have to bring enough to get it to a conventional
thats tough man I'm assuming no ones gonna do it because you're exceeding county loan limits…you're gonna have to bring a lot in regardless
i could be wrong tho, jumbos are tricky man honestly
we don't offer jumbos on investment purchases you would have to bring enough to get it to a conventional
thats tough man I'm assuming no ones gonna do it because you're exceeding county loan limits…you're gonna have to bring a lot in regardless
i could be wrong tho, jumbos are tricky man honestly
dark_magic
Pro
And who is the largest "land owner" in the world? Its the bloody queen of England mate
I'm curious about land patents @dark_magic
The Pope owns a lot of land worldwide as well.
Interestingly enough, both the Pope and the Queen of England sit within corporations sole.
Ted Turner is the second largest land owner in the US at 2 million acres.
Land patents are a form of letters patent which it self is a form of writ. I surmise the term 'writ' is short for 'written'.
Writs were originally issued by the King of England only.
Over time, the issuance of writs became a franchise of the courts (and I suspect English Parliament as well). Writs were the workhorses of the Common Law court system, but this only delves partly into common law court process, procedures, and forms.
Land patents are issued by monarchies and governments.
Land patents are also called first-title deeds.
The reason why deeds are color of title is because deeds color who the owner of a land patent is.
The deed should be linked through to the land patent by way of a title abstract.
Much of the land of the 13 original colonies were issued by letters patent from various foreign monarchies such as France, Britain, Spain, etc.
Much of the Public Domain Lands beginning with the Northwest Territory were sold to individuals by way of land patents through the General Land Office.
Land is first surveyed (cadastral map) before it is patented.
This all has to do with one's tenure of land in addition to its boundaries.
Land was originally tied to an office in the feudal system. The office had its own rights, privileges, and immunities. This also gave the actor within the office standing in the King's Court.
The financing portion of land (mortgage, registration, liens, etc.) is just as fascinating as land law.
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theworldismine13
God Emperor of SOHH
subs
Its not an investment purchase in the traditional sense. Its merely a move to re-allocate capital wisely. Instead of making P&I payments on a 5% loan id rather just interest on a 3% ARM on an income earning property which will free up my cash for large principle payments and or business.
Bruh, I don't live in an area where houses cost under $300,000, and I can't just up and move to another state. Different areas call for different strategies, even after the housing crash you weren't seeing houses in this area for under $350,000 because demand was still ridiculously high and those were seen as deals even if they needed work. That 112k you used cannot buy anything in this area, homes in the hood were going for 2-3x that much in 09.
I'm debt free completely, my lady has a little left on her school loan but her parents are taking care of that for her. Even then, I just don't see the point in buying a home in NY, when I can just use what would be the downpayment on that home to buy a much better home outright in some of the countries I've been to and loved.
You the Wolf of Wall Street though, buying homes just to tear them down and put another in it's place, my viewpoints don't really apply to your situation
Marl0 Stanfield
Yeshua Ben YHWH
It depends on the reason you bought the real estate. I mean, if you bought a home primarily because of the home itself and not the land value, then that's not gonna werk investment-wise. But if the area is sound and meets certain criteria then chea. But I didn't grow up in one place so I can't really relate to a city or neighborhood being "home". I'm always ready to make a move.
I'd be mildly interested in buying a little bullshyt 70-100k jernt n rent it out or some shyt but when I was looking for my jernt I wasn't necessarily looking for home sweet home because I was involved in scumbag activities. Plus where I'm at in in Fla, it's turning into hipster land, so there's always some faggy event drawing turrists. I might move my Black ass to Cuba seeing as how leos like to drink coffee on the opposite side of the screet in front of my house, tryna talk about the Mayweather fight n shyt.
Deaf2twothirds
All Star
I have a Real Estate background been licensed for nearly a decade. & the ppl that win are the banks & cash buyers. If you paying the minimum down payment normally 3.5% on a 300k house. With interest you are paying over double the house value in a 30 yr span. Mortgage is simply what the word means which is a death note.
Bruh, I don't live in an area where houses cost under $300,000, and I can't just up and move to another state. Different areas call for different strategies, even after the housing crash you weren't seeing houses in this area for under $350,000 because demand was still ridiculously high and those were seen as deals even if they needed work. That 112k you used cannot buy anything in this area, homes in the hood were going for 2-3x that much in 09.
I'm debt free completely, my lady has a little left on her school loan but her parents are taking care of that for her. Even then, I just don't see the point in buying a home in NY, when I can just use what would be the downpayment on that home to buy a much better home outright in some of the countries I've been to and loved.
You the Wolf of Wall Street though, buying homes just to tear them down and put another in it's place, my viewpoints don't really apply to your situation
Lmao. If it means I can save even a few bucks a month in interest I'll take it. I'm always worried I locked in at too high a rate.
dumb statement.
renter: pay rent to owner and make owner rich
So called "HOME OWNER": pay mortage to bank and make the bank rich.
same thing plaiboi
THe only difference between the two is this. One you can borrow off of its worth, the other you cant.
But no matter if you own the home or not you will have to pay taxes on it for how long? FOREVER. thats how long. now we know taxes on very small homes in suspect areas is super cheap. so you can pass that house down to your kids/grandkids. if they are cool with living in the hood for zero rent but still have to pay taxes. then cool. its a good investment.
But usually people stop paying those taxes and end up losing the home. if you ever lose the house. you are just as bad as a renter. no different.
NOw the renter has one thing that the owner doesnt. Mr renter can wake up one morning and leave the place and that will be that. and go find some where else to live. What happens when you're tired of living in the hood? well if you just rent, you can get up and leave and rent another place in a better area. What if you own a home in the hood. you have to pray you can sell the house for enough to at worse break even with the bank(and thats only assuming you didnt get your house late in the game during the housing bubble crisis).
there are pros and cons to both. the con move is to make people think renting is bad. its not. its a choice.