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Old January 29th, 2014, 09:23 PM   #41
Skooter_Built
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How is buying a condo going to give you freedom to not be tied down? You a fucking idiot.

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Old January 29th, 2014, 10:03 PM   #42
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Buy a small warehouse. Fix it up, build it out with living quarters, live in it. Ultimate bachelor pad, be the only guy you know to be able to park in his living room. Build a badass gym in it, Fill it with tools and toys, live happily like a grown boy for the rest of your days. That's what I'd do.
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Old January 30th, 2014, 12:25 AM   #43
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Buy a small warehouse. Fix it up, build it out with living quarters, live in it. Ultimate bachelor pad, be the only guy you know to be able to park in his living room. Build a badass gym in it, Fill it with tools and toys, live happily like a grown boy for the rest of your days. That's what I'd do.
I think it would be kind of tough convincing a girl to come back to your warehouse.
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Old January 30th, 2014, 12:32 AM   #44
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I think it would be kind of tough convincing a girl to come back to your warehouse.
Tell her it is to interview for a shipping and RECEIVING position.
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Old January 30th, 2014, 02:57 AM   #45
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Tell her it is to interview for a shipping and RECEIVING position.

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Old January 30th, 2014, 05:27 AM   #46
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If you can't over come the warehouse issue, with a drunken bar girl, your line of bull needs work. I stand behind the warehouse idea!
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Old January 30th, 2014, 07:52 AM   #47
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I'm not going to piss $800-1000 away renting. I've done it already for almost seven years and I'm not doing it anymore.

Even if the condo or townhome doesn't go up that much in value, it's still better than losing money renting IMO. Not to mention, I'd rather pay $400 a month rather than $800-1000 for the same thing. I'll bank a lot of money in the next couple years, and can sell the condo/townhome, or rent it out while buying another house.

A fixer upper could come later. I don't have a lot of time to throw into lengthy home projects. As for associations fees, most of the places I've looked at are around $100-$150 and includes lawn care, snow removal, trash, water and at a couple locations, heat.

Yea, a cheap house in a shit area would be great financially, but it isn't worth the risk. I can get into a nicer area on the cheap with route, and not be over invested in anything.
If this is only a two year plan, you need to reconsider. With the closing costs of the mortgage to buy the place and the commission payed to sell the place, you'll be at 10k on a 100k condo. In that time you'll also spend 8k on interest and 4k on taxes/insurance. You'll be pissing away over $900/mo if you buy it for two years. This doesn't include condo association fees, utilities, maintenance, and risk of a housing market downturn.
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Old January 30th, 2014, 08:19 AM   #48
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Tell her it is to interview for a shipping and RECEIVING position.


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If this is only a two year plan, you need to reconsider. With the closing costs of the mortgage to buy the place and the commission payed to sell the place, you'll be at 10k on a 100k condo. In that time you'll also spend 8k on interest and 4k on taxes/insurance. You'll be pissing away over $900/mo if you buy it for two years. This doesn't include condo association fees, utilities, maintenance, and risk of a housing market downturn.
More than likely I won't sell it. I'll stick with a 30 year fixed, and pay more per month after student loans are taken care of.

A condo in a yuppie area would do way better as a rental property than ever selling it. When the housing market downturns, rental demand typically always goes up.
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Old January 30th, 2014, 08:26 AM   #49
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That and if you negotiate it up front you can avoid many of the closing costs. But bobby is right , they certainly have to be considered.

The interest is already calculated into the mortgage amount i posted earlier. People always freak out about how much interest you pay, in the end it doesn't mean jack shit. If you use the example of my own home, I think in the end my mortgage was written for 125k. I owe close to 115k (been here 3 years). My mortgage is cheaper than rent, and according to the interwebs real estate sites my house is valued at anywhere from 160-170k. I have NO CLUE how much I paid in interest, and I don't really care. I'm at 4.5%. If I had been renting I would have spent the exact same amount of money in the last 3 years (or more) lived in an apartment instead of a house with a yard, and if I wanted to move I could, but I wouldn't have banked a dime. Even if I sell my house for what I paid for it I'll get some cash out of the deal.

You're gonna have to pay association fees either way, it's either going to be built into your rent, or as the homeowner you're gonna pay it.

I don't know what its like over on the west side where you're at bobby but you can't rent a decent place around here for less than $800 a month. But you can buy something a lot cheaper than that. Plus if you do like Grease turd is talking about you can hold on to it and rent it out later. Once he moves out he can charge more per month to rent the condo than the mortgage will cost him. To rent a house like mine (nothing fancy at all, 4 beds, 2.5 baths, 1800 sq feet) You're paying a good $300-500 more per month than what my mortgage costs me.....

The yuppie 20 somethings will pay a million dollars a month to live in royal oak, ferndale, birmingham, clawson, troy, novi, farminton hills, northville, etc. Really anything within a 20 minute drive to Royal Oak should rent out no problems at all.

Last edited by kickstand; January 30th, 2014 at 08:31 AM.
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Old January 30th, 2014, 10:39 AM   #50
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That sounds good. I was a bit concerned when you mentioned only a couple years in an earlier post. But if your planning on having the property for a while you should end up in great shape.

The only other side note I could suggest if you end up in a condo, study the association rules. Make sure you can rent it out later without problems from them and make sure the people working in the condo association are not idiots.

While it's not the direction I'd go, it should work out well for you. Good luck man.
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Old January 30th, 2014, 10:56 AM   #51
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If you can't over come the warehouse issue, with a drunken bar girl, your line of bull needs work. I stand behind the warehouse idea!
Like ice cube's crib in All about the Benjamin's? Cause that house was awesome.
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Old January 30th, 2014, 11:31 AM   #52
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Move in with Stan.
Bang bitches.
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Old January 30th, 2014, 12:03 PM   #53
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Move in with Stan.
Bang bitches.
Cocaine.
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Fictsed




Rent.
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Old January 30th, 2014, 01:11 PM   #54
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That sounds good. I was a bit concerned when you mentioned only a couple years in an earlier post. But if your planning on having the property for a while you should end up in great shape.

The only other side note I could suggest if you end up in a condo, study the association rules. Make sure you can rent it out later without problems from them and make sure the people working in the condo association are not idiots.

While it's not the direction I'd go, it should work out well for you. Good luck man.
Oh for sure. My real estate agent is a friend and knows exactly what my plans are so we're checking into all of the details at any place we look at.

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Fictsed

Not a half bad idea...


Rent.

Fuck no!
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Old January 30th, 2014, 02:13 PM   #55
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Hmmmm

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I would try to find a place to rent on a monthly or 6 month lease. Gives you a chance to figure out what you want to do in life without rushing into anything.
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Old January 30th, 2014, 04:48 PM   #56
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Old January 30th, 2014, 05:58 PM   #57
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^This is probably your best bet. Especially if you like to live nice and cozy like. BlooMule would probably even sell ya a van.
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Old January 30th, 2014, 08:23 PM   #58
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^This is probably your best bet. Especially if you like to live nice and cozy like. BlooMule would probably even sell ya a van.

I hear it even comes with free candy
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Old January 30th, 2014, 08:28 PM   #59
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SSHHHHH! You're not suppossa tell!
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