Ma dukes rushing me to buy a crib

[GrindtooFilthy]

1. For the recent home sales in the past 6 months, what are the average prices that you have seen in that area, for a similar sized house?
2. What is the average income of the residents in that area?
3. Are you buying it 100% with cash, or are you putting a mortgage on it?
4. Does that house have an existing mortgage?
5. What is the average rent prices in that area?

If you can't answer these questions confidently, Don't you dare buy that house lol

1. Lowest is $600k and that’s for a shytbox

2. Avg is probably $75k

3. A mortgage

4. Built brand new so I’m guessing no

5. Rent is around $3k

I'm closing on another rental on Friday and I'll have a renter in by the 5th

real estate works for me

if you have to ask IF it's the right move then you have not done enough to educate yourself on the process

there are several factors constantly at play

Yeah gonna have to turn it down

This thread is brought to you by

What do I gain from lying here?

Real Estate is the GOAT investment. If you can afford getting a house, do it.

IF you can afford it. Ain't no point in going broke for a house you can't pay for.

That's 100% not the kind of decision to drag your feet on though. If you can go for it, act quick and be decisive. Waiting for prices to drop and all that is a fool's errand.

Damn so you saying prices won’t drop these prices are fukkin insane

 

[Swirv]

Self-explanatory

Ma dukes forcing me to buy 2 family house for rental property, house is $700K

I genuinely don’t feel ready to buy a house but she’s trying to force a down payment for me…

Good or bad idea

Is that $3000 per unit?

 

[Volt]

Damn so you saying prices won’t drop these prices are fukkin insane

It's been like that pretty much everywhere for a while now, the market is fukked for real.

That's probably why she's pushing you into it.

 

[GrindtooFilthy]

Is that $3000 per unit?

Yes $3k per unit so probably $6k total

It's been like that pretty much everywhere for a while now, the market is fukked for real.

That's probably why she's pushing you into it.

Damn

 

[Astroslik]

Pay off the debt

 

[shopthatwrecks]

700k? Thats it? Step your game up, this is the Coli you peasant.

i do declare that is peasant activity ...yes yes

 

[the bossman]

I would wait 18 months save more so you have more to put down and do it and get the home at 4-5%...The fed said they are lowering rates 3x this year so why not wait till sometime in 2025??? If you buy at 29 at 6.5% or at 31 at 4.25% the rate will make a big difference but the age wont.

the minute they cut rates that price going up. will be 800-900k by the time he's ready to buy

 

[TRUEST]

a $700k 2 family where you are living on one side or one part and the other part is paying your bills I assume is the dynamic here.

You said down payment....to me this is a problem at current.... you arent going to find rates under 6% anywhere and thats if your credit is 750+ not saying its not just mentioning it because average 20 year something old credit is not 750+

I would wait 18 months save more so you have more to put down and do it and get the home at 4-5%...The fed said they are lowering rates 3x this year so why not wait till sometime in 2025??? If you buy at 29 at 6.5% or at 31 at 4.25% the rate will make a big difference but the age wont.

If he’s got the money now, waiting would be unwise. Housing prices don’t just stay the same. They’re not waiting for you.

 

[Family Lives Matter]

A grown man is asking this question to random strangers lol

 

[jadillac]

A grown man is asking this question to random strangers lol

Everyone doesn't know the mortgage biz

 

[Family Lives Matter]

Everyone doesn't know the mortgage biz

Yup thank God for

Google
Books
YouTube
Mortgage brokers
Various other places

 

[CreepyMcCreeperson]

Forreal

Tell that ahem....tell your mother to make the payments since she is so into YOU buying a damn house

Does she even know the market and the ins and outs in the modern day or just spewing this shyt because she thinks it's how it used to be in her day and this is what you need?

A lot of parents have strange boundaries with their children. They think the kids need to be whatever they are, and live to please them. This is especially true with mothers of boys, especially single mothers of boys. To this day, I have to distance myself from my mother at times, because I can’t deal with the nitpicking. When I explain boundaries, then I’m “being mean”, which I view as manipulation into making me do what she wants.

 

[Swirv]

Yes $3k per unit so probably $6k total

Damn

If you don’t want the house, pm me, I’ll take it.

 

[Shadow King]

How is she "forcing" you to pay?

 

[beenz]

Self-explanatory

Ma dukes forcing me to buy 2 family house for rental property, house is $700K

I genuinely don’t feel ready to buy a house but she’s trying to force a down payment for me…

Good or bad idea

Is this for her to live in rent free or something?