The Official Homeowners Thread

[Hiesenberg]

Wired the money to pay off my mortgage today.

Where is best bang for your buck coastal property on east coast? Not water front but beach in walking distance.

NC, SC, VA, GA...

 

[Hiesenberg]

850 credit score incoming...

 

[The_Unchosen_One]

Pipes froze last night, woke up to no hot water

Borrowed a neighbor's hair dryer to warm the pipe I could see, several hours later hot water is back

Heat tape man...

We install this on the rentals I manage, keeps pipes from freezing...

make sure if you have pipes on the exterior walls of your house to put insulation around them to keep them heated and if it's laundry closet... keep doors open so heat gets in.

I deal with frozen pipes every year and have had to deal with busted pipes 3 times in 7 years

 

[LeVraiPapi]

Credit 680, according to credit carma

What’s the max amount I can spend according to how much I make?

You're a nurse. Leave your full time job and do 2 contracts together for 6 months. THat's already 80k. Or, you can just do a side gig like per diem with an agency or hospital

 

[Rawtid]

Credit 680, according to credit carma

What’s the max amount I can spend according to how much I make?

A great rule is to have your mortgage payment be no more than 25-30% of your take home pay. You can back into the amount you can borrow using that rule. Interest rate, down payment and type of loan (conventional vs fha), property taxes and cost of homeowner's insurance normally factor into the final mortgage payment.

 

[Hiesenberg]

Bought a flooded property on the coast over the summer.

Renovated it, used as a getaway, now selling and pocketing $10,000. Go under contract today.

Bought first house at 21 years old. Put $10,000 down on an $80,000 foreclosed 3 bed 2 bath 2 story with single car garage kept it a year and pocketed $32,000

What's next...

 

[Mofongo]

Bought a flooded property on the coast over the summer.

Renovated it, used as a getaway, now selling and pocketing $10,000. Go under contract today.

Bought first house at 21 years old. Put $10,000 down on an $80,000 foreclosed 3 bed 2 bath 2 story with single car garage kept it a year and pocketed $32,000

What's next...

What happened to the $70,000 that was still owed.?

 

[Hiesenberg]

What happened to the $70,000 that was still owed.?

It was paid off after the sale.

I paid the home off and banked 32K.

My credit score been 700+ since age 23
Now I'm under contract on a 200K+ home I will only owe 40K on when it's all said and done

Brick 5 bed, 3 bath, a study, family room+living room, 2 fireplaces with detached garage

Not doing as well as others but pretty damn good for a 27 year old with only high school diploma

Start strong then coast, brehs

 

[Azul]

It was paid off after the sale.

I paid the home off and banked 32K.

My credit score been 700+ since age 23
Now I'm under contract on a 200K+ home I will only owe 40K on when it's all said and done

Brick 5 bed, 3 bath, a study, family room+living room, 2 fireplaces with detached garage

Not doing as well as others but pretty damn good for a 27 year old with only high school diploma

Start strong then coast, brehs

you're doing excellent

Dude who moved upstairs was fixing his furniture at night. Usually I'm cool about stuff like that but when I heard the drill I had to go upstairs.

Hope he not on some bullshyt Especially since he paid 40k more than I did

I see myself here maybe about another two years

 

[Hiesenberg]

you're doing excellent

Dude who moved upstairs was fixing his furniture at night. Usually I'm cool about stuff like that but when I heard the drill I had to go upstairs.

Hope he not on some bullshyt Especially since he paid 40k more than I did

I see myself here maybe about another two years

You in a townhome? Best thing to do is be up front when you see the guy. Just tell him straight up please don't keep me up with that noise.

Most people respect that.

I'm moving from out on my own 8 acres into town and I'm going to hate dealing with neighbors again.

Good luck with the guy

 

[Nikki_04]

I want to invest in a property and rent it out. The average price for a decent home where I currently live is probably between 650k-700k. After doing some searching of areas that are 2 hours away from here, I found some new houses that are around 250k and there were also these newly built trailer homes that are going for 69k.

Are trailer homes a good investment? Also, is buying homes in small commuter towns a good idea for someone who wants to rent it out?

 

[Super Cheech]

It's so expensive to live in CA brehs

 

[.r.]

..

 

[OfTheCross]

Credit 680, according to credit carma

What’s the max amount I can spend according to how much I make?

Banks usually let you borrow up to 41% of your monthly income.

That means your all your debt combined can't be more that 41% of your gross monthly pay.

You can do the math cause you know how much your owe and how much you make.

 

[GzUp]

Banks usually let you borrow up to 41% of your monthly income.

That means your all your debt combined can't be more that 41% of your gross monthly pay.

You can do the math cause you know how much your owe and how much you make.

I make about 64k a year, I have zero dept.