How to create a long term financial plan?

[Liquid]

You would have a fairly hard time to find one that is being auctioned off or was foreclosed on. If you did it would probably be a tear down. Would you live there, are you looking to rent it out, apartments?

Well one thing you'll need to do is get your credit as high as possible.

100/200k deposit is ideal to keep your payment low and to ensure a loan.

I would get in touch with a mortgage broker so you can get more specifics.

NYC real estate going to keep getting expensive or there will be another bust down the line again (more than likely imo).

It's a great source of income and asset from where I stand.

You're going to need to have great credit with a history of payments with money going out for a few years, assets, and a nice income to be able to get a mortgage on a property like that.

I don't want to discourage anyone but it isn't easy. I had been in the market the last year and half and finally had to say I'm going to move on to other projects for a few years.

I agree with this, but maybe 150/300K deposit if possible. The game is all in the potential interest they will milk out of you.

If you can't get a nice down payment at the very least pay bi-weekly on that mortgage and assuming that most on here are getting paid bi-weekly that leaves two 3 check months...dump BOTH of them to kill that mortgage even faster.

What is your income? And I don't think getting into CD's is a good option anymore as the returns are absolute shyt, but its better than your money sitting idle. Apply that philosophy my friend, even one of those interest checking accounts will bring you some return than just leaving it in a regular old bank account. Apply for Ally Bank...I think they check your credit score. I have one and love it

Multiple sources of income is the answer to me

http://www.thecoli.com/threads/how-are-you-making-money-easy-ways-to-increase-if-you-are-not-making-it-from-multiple-sources.132066/

 

[Liquid]

Economics is all about discipline. You can get there if thats what you really want

 

[Ethnic Vagina Finder]

 

[newarkhiphop]

just out of curiosity, why do you want a $875,000 house?

 

[newarkhiphop]

also i highly recommend this book

 

[Slystallion]

just out of curiosity, why do you want a $875,000 house?

Actually your right he's already falling into the trap of living outside of his means he doesn't even have a career yet and wants a near million dollar house.... Build that stream of income first bro

 

[CentricTongues]

just out of curiosity, why do you want a $875,000 house?

I'm trying to be realistic about that being the cheapest ill be able to buy a brownstone around NYC, thats why im trying to make sure i'll be able to afford it and pay it off with a plan.

 

[CentricTongues]

Actually your right he's already falling into the trap of living outside of his means he doesn't even have a career yet and wants a near million dollar house.... Build that stream of income first bro

Its the dream man, which means after i get settled in and finish up with you guys said about everything ill be able to get the house. I'm pretty sure ill have to go thru micro apts first.

 

[CentricTongues]

Unless i can get a auctioned crib which will be cheaper but a shell of a home