Just had my offer accepted for my 1st condo

[YamakaSmacker]

Any particular reason you want to drop so much liquid

I'm. 29 with 2 properties both at 2% interest

 

[mannyrs13]

around salem mass

For some reason I thought you were in LA the entire time. I was like you making 50k out there? That's like poverty level with them prices in Cali.

But congrats on the place.

 

[the cac mamba]

For some reason I thought you were in LA the entire time. I was like you making 50k out there? That's like poverty level with them prices in Cali.

But congrats on the place.

:jaymelo:

 

[the cac mamba]

Good shyt. How many sq ft, bedrooms and is there parking?

1400, 2 br, 2 spots off street

Any particular reason you want to drop so much liquid

I'm. 29 with 2 properties both at 2% interest

i mean if i put down that 40% my mortgage is 800 bucks. i could put down less but what would be the strategy there? whatever i invest in has to offset what i'm losing in interest on what i borrow at 4.5

if you think i should approach it differently im all ears, thats why i made the thread

 

[YamakaSmacker]

1400, 2 br, 2 spots off street


i mean if i put down that 40% my mortgage is 800 bucks. i could put down less but what would be the strategy there? whatever i invest in has to offset what i'm losing in interest on what i borrow at 4.5

if you think i should approach it differently im all ears, thats why i made the thread

I guess the question is how much liquid will you have left over after dropping 40%. If you're still sitting on 12 months worth of expenses then right on.
What is your purchasing price btw?

Congrats. It's an awesome feeling being a home owner while everybody else in your age range is tossing money in their landlords pockets


Edit:12 months is a personal criteria for me... 6 months of expenses readily available is absolutely fine

 

[the cac mamba]

I guess the question is how much liquid will you have left over after dropping 40%. If you're still sitting on 12 months worth of expenses then right on.
What is your purchasing price btw?

Congrats. It's an awesome feeling being a home owner while everybody else in your age range is tossing money in their landlords pockets

oh yeah prolly a few years

yea its a little over 200k

 

[YamakaSmacker]

oh yeah prolly a few years

yea its a little over 200k

you don't need coli advice.
You're doing your thing

 

[YamakaSmacker]

But consider buying down points on your interest from your lender. Are you doing a15 yr fixed?

 

[hashmander]

around salem mass

i went there on a school trip for english class when we were reading nathaniel hawthorne. back then it was a weird ass town that looked like it centered around witches and nathaniel hawthorne tourism, but it was a cool place. didn't even know they had a university until much later.

 

[Sauce Dab]

 

[the cac mamba]

But consider buying down points on your interest from your lender. Are you doing a15 yr fixed?

im doing a 30 and im just gonna overpay every month

 

[YamakaSmacker]

im doing a 30 and im just gonna overpay every month

Make sure you specify anything over is for principle only.

 

[Astroslik]

i went there on a school trip for english class when we were reading nathaniel hawthorne. back then it was a weird ass town that looked like it centered around witches and nathaniel hawthorne tourism, but it was a cool place. didn't even know they had a university until much later.

That’s because it is

Salem is historically known for its “witch trials” and witch hysteria wayyy back in the day

 

[hashmander]

That’s because it is

Salem is historically known for its “witch trials” and witch hysteria wayyy back in the day

well i did say i went there for an english class trip so i know about the salem witch trials. i didn't even think you could create an economy out of that nonsense before i saw it.

 

[Astroslik]

well i did say i went there for an english class trip so i know about the salem witch trials. i didn't even think you could create an economy out of that nonsense before i saw it.

So you're obtuse to the possibility that a historically famous town for witchcraft and black magic (to the point tv shows and documentaries were made of it and it being including in k-8th grade books), isn't going to capitalize off of its notoriety through generating revenue for their economy?