Ma dukes rushing me to buy a crib

[987654321]

Boston metro area, I'm just worried i can't make those payments plus maintenance, you know random shyt my pop up but it's brand new house built this year but these new age houses be built like shyt so i dunno

this just boils my blood more, my folks my get cussed out if they bring this up again not knowing what these rates look like


she's saying she'll match if I put 10k, my salary is solid 6 figs but my debt ratio is kinda insane rn

You know everybody’s dad’s side of the family is full of hustlin ass nikkas. As soon as that shyt got to closing he was all about that commission lol.

shyt worked out though, hoes loved my house (but no more hoes because my girl and I are parents now), when my dad got sick I was able to temporarily move my parents and sister in, I got a gigantic basement that me and my dad got halfway finished (he paid for all the materials), my neighborhood is quiet as hell (80% black middle aged people), and the value more than doubled.

 

[GrindtooFilthy]

If the numbers add up do it. If u wait ull be in a competitive market. Bite the bullet now and refi later.

You know everybody’s dad’s side of the family is full of hustlin ass nikkas. As soon as that shyt got to closing he was all about that commission lol.

shyt worked out though, hoes loved my house (but no more hoes because my girl and I are parents now), when my dad got sick I was able to temporarily move my parents and sister in, I got a gigantic basement that me and my dad got halfway finished (he paid for all the materials), my neighborhood is quiet as hell (80% black middle aged people), and the value more than doubled.

man I'll sit on it but an asking price of 700k with my trash credit score i dunno man, i know they wont be kind with me

 

[Kings County]

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

700k is way too high bruh
find a new city

 

[Insensitive]

Boston metro area, I'm just worried i can't make those payments plus maintenance, you know random shyt my pop up but it's brand new house built this year but these new age houses be built like shyt so i dunno

this just boils my blood more, my folks my get cussed out if they bring this up again not knowing what these rates look like


she's saying she'll match if I put 10k, my salary is solid 6 figs but my debt ratio is kinda insane rn

You could always gamble on lower interest rates in the future.
Try to bump that pay another 20 or 30gs if you have to.

Because it'll only get harder from here.

The second interest rates dip even a little, the feeding frenzy will start again.

If you can stomach the payments, COP IT and refinance later.

 

[cheek100]

man I'll sit on it but an asking price of 700k with my trash credit score i dunno man, i know they wont be kind with me

I mean if moms is doing the legwork and u can get on why not

 

[GrindtooFilthy]

I mean if moms is doing the legwork and u can get on why not

but females in my family like to switch up last minute that's why, shyt will fall on my head

You could always gamble on lower interest rates in the future.
Try to bump that pay another 20 or 30gs if you have to.

Because it'll only get harder from here.

The second interest rates dip even a little, the feeding frenzy will start again.

If you can stomach the payments, COP IT and refinance later.

you dont think the bubble will burst?

700k is way too high bruh
find a new city

lol was gonna move to the dmv but its not any better tbh

 

[↓R↑LYB]

Here’s the thing I was trying to clear my student loans and my car debt then she came with this bullshyt

1. Both sides will be rented I'll be living with them
2. my credit score is so trash because i was unemployed last year, think im at like 600

You're not prepared for home ownership. Don't do it.

 

[Insensitive]

but females in my family like to switch up last minute that's why, shyt will fall on my head


you dont think the bubble will burst?


lol was gonna move to the dmv but its not any better tbh

I don't tbh.
I'm officially starting my journey into real estate investment next month.

So I sincerely feel the time to buy is now and that the game will only get more competitive until the government steps in at
some point.

 

[jadillac]

Here’s the thing I was trying to clear my student loans and my car debt then she came with this bullshyt

1. Both sides will be rented I'll be living with them
2. my credit score is so trash because i was unemployed last year, think im at like 600

I can't speak for every bank but that 600 credit score is going to hurt you to qualify for a regular loan.

You might have to go FHA, which then requires additional mortgage insurance, or perhaps there's another special affordable program, but those are usually only in specific counties.

 

[Dont@Me]

You put your foot down, say no, and establish healthy boundaries with your mother.

You’re not ready, and you had plans for your money. You’re grown. You decide where your money goes, not your mother.

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?

 

[987654321]

man I'll sit on it but an asking price of 700k with my trash credit score i dunno man, i know they wont be kind with me

I’d say go with your own gut. If it don’t feel right now, then it will likely just hurt you later.

 

[UpAndComing]

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

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

 

[BunchePark]

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

 

[Mordith]

This thread is brought to you by

 

[Volt]

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.