The Official Homeowners Thread

[h2o_proof]

If I were you I would slang that house asap at the $135k equity you're looking at. Houston is about to go belly the fk up with this huge oil bust we are having right now which will flood the market (its already happening but its not 09 bad just yet). People wont move here in droves much longer if oil stays at where predictions are pointing (another 3-4 years). Im happy there is a bust its just happening at a time that Im not in the market which sucks. You did good buying a small home in a desired neighborhood. I couldnt move 3 times, next house we plan to birth/raise our kids in and spend 30 years at then bounce to a ranch or farm either here or in Puerto Rico.

I hear you, but I'm young with young kids so it's not ideal for me to flip the equity. Now my neighbors some of which were old white folks ready to retire, this was perfect for them. I work in the Outsourcing/HR industry so I've got a 2-3 year forecast as to what companies are getting ready to layoff and which ones will divest/merge and from what I see, there are emerging markets that will still make Houston desirable for other fortune 500 companies outside of Oil & Gas. You gotta remember, Houston is somewhat recession-proof so even if oil & gas go belly up, there's too many billionaires out here that aren't gonna make sure the playing field is leveled, but we'll see.

 

[FocusedDaily]

sub for later.

 

[Deutsche Bank]

If you were sitting with your fingers crossed hoping to get approved for the loan, I'm 99% sure you can't beat the spread on the PITI. Repairs shouldn't ever be an issue because if you can beat PITI, you should have funds socked away to build equity. Unless you're the type to have a car note, student loans, and out of ctrl credit card debt while praying for an adjustable rate mortgage. And if you can't afford private school for your children, you probably shouldn't be trying to "own" a home.

 

[beejus]

* Took down my pics of my house. Can't trust you shady MFers.

 

[Trill McClay]

Good thread. My wife and I will be building a house in August 2017. Any advice? Preferably in Dallas FW area.

 

[posterchild336]

my goal is to buy up and just keep renting, just had a realtor come in today to put my south Florida property on the market... It's the best investment for down the road

 

[FreddyCalhoun]

i got student loan debt breh....im screwed

Student loan debt only counts as 2% in most mortgage loan

 

[Pacni99a12]

dump that paper in property man......it's power.

What kind of properties do you recommend as far as investing? I've been thinking about that shyt for a few years . Do you ever invest remotely (property where you dont live near)? Do you invest in low income areas or more middle class?

 

[Cat piss martini]

What kind of properties do you recommend as far as investing? I've been thinking about that shyt for a few years . Do you ever invest remotely (property where you dont live near)? Do you invest in low income areas or more middle class?

start with 1-2 family flats.
here in st louis the white people
want the city back on the low so I was
copping property as close to down town as possible
and spots where development was taking place.
i got 4 cribs in spots where the property value done
went up like crazy.

 

[HacksawJimThuggin]

I'm a real estate attorney and own a title company, so I'd be glad to answer any questions you guys may have on the topic.

 

[Mac Brown]

Figured I'd throw some pics of my place up. Got lucky and moved into a house that had been updated: new paint, newish roof, updated kitchen.

*Furniture isn't mine. It was the previous owners furniture.

Only real issue is the backyard. I don't get much sun in the back so the grass is just weeds, moss, and dirt. Hoping to cut down some of the trees blocking the sun and building a new deck this summer.

man If you were local to me, I could hook you up with a couple of women that would decorate your place and have that shyt looking out of a magazine.

 

[beenz]

Figured I'd throw some pics of my place up. Got lucky and moved into a house that had been updated: new paint, newish roof, updated kitchen.

*Furniture isn't mine. It was the previous owners furniture.

Only real issue is the backyard. I don't get much sun in the back so the grass is just weeds, moss, and dirt. Hoping to cut down some of the trees blocking the sun and building a new deck this summer.

nice crib. the grass in my backyard looks like shyt as well. no one was taking care of it before we moved in, so I will have my work cut out for me. you got a big deck at least. I got one now as well. can't wait to use it once it gets warmer.

I'm so glad I don't have any trees in my yard. won't have to rake any leaves in the fall. last place I lived had an apple tree which would attract hella squirrels, flies and bees. the squirrels would eat the apples and knock them out the tree, and they would rot and attract bees and flies all summer. I had to throw rotten apples over the fence damn near daily.

 

[beenz]

lol, sorry about that, my pc restarted at the same time I was typing. Windows automatic update, smh.

I was gonna say I did the same as you, but back in 06 when we purchased our "starter" home in Greenspoint. We renting that joint out now and we moved into our new home back in '13 in The Woodlands. It took my wife some convincing, but what I did was find a MPC (master-planned community) looked at available homes, and found the least expensive home on a street where home prices were averaging 325k, which is a lot in Houston. We paid 155k for our home and in almost 3 years the value has nearly doubled due to the neighborhood plus the new ExxonMobil campus that was built out here. Last appraisal in December our home appraised at 285k and I've had several offers but now ain't the time to be buying, its a sellers market in Houston if you ask me.

man, you out there with that increased equity. however, if your house gets reassessed, you're gonna be paying for that in increased property taxes.

 

[newarkhiphop]

I'm so glad I don't have any trees in my yard. won't have to rake any leaves in the fall. last place I lived had an apple tree which would attract hella squirrels, flies and bees. the squirrels would eat the apples and knock them out the tree, and they would rot and attract bees and flies all summer. I had to throw rotten apples over the fence damn near daily.

fukk trees

I have a huge one in my yard and both my neighbors have huge ones in there between Oct-nov I took out 40 full leaf bags

Dam tree stops at least 40% of my yard from growing grass

Again something else I never thought of pre purchase lol

 

[beenz]

fukk trees

I have a huge one in my yard and both my neighbors have huge ones in there between Oct-nov I took out 40 full leaf bags

Dam tree stops at least 40% of my yard from growing grass

Again something else I never thought of pre purchase lol

not having trees wasn't a deal breaker, but I DEFINITELY didn't want another fruit tree in my backyard. plus the apples off the tree I had tasted horrible. they were bitter as hell. neither of my two neighbors has trees and neither do I, so I should have minimal leaves to deal with in the fall.