Buying a second house... and Obama's second term
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Buying a second house... and Obama's second term

  1. #1
    Marine Organism Forkin' Crazy's Avatar
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    Question Buying a second house... and Obama's second term

    Should there be any concerns? I have been very conservative and have paid for my house and most of my land. Still driving my Dad's old 93 GMC for a beater!

    I am looking at a house on the water (bay and canal) on the east coast of Florida. Beautiful place.... I mean picture perfect... And a pretty good price with out any in-depth investigation. I have to admit I am apprehensive on pulling the trigger. I have crunched the numbers and can afford it, but what if Obama gets back in and we spiral further into economic turmoil?

    Maybe I should be looking at a place in New Zealand?

    PS was thinking of doing some vacation renting if zoned for so.
    "An armed society is a polite society. Manners are good when one may have to back up his acts with his life"

    - - Robert A. Heinlein

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    Icy
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    Really depends on your current job and whether or not you think it'll be there.

    If I had the capital available I'd be buying rentals at this insane 3.0% 15 year and 3.75% 20 year rates.

    Unfortunately I was dumb and spent more on my piece of paper than I did my home so I'm still working on that.

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    Senior Member Jake's Avatar
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    DON'T DO IT-HOARD YOUR CASH. Take the lead from big business and play the wait and see game.

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    Marine Organism Forkin' Crazy's Avatar
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    Sorry guys, this is just a scenario I am sure MANY are looking at. Just wondered if anyone thought the same.

    I am all about being an EVIL CAPITOLIST and buying low and selling high.... Isn't that what they/we do?

    "An armed society is a polite society. Manners are good when one may have to back up his acts with his life"

    - - Robert A. Heinlein

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    Your best choice is to purchase a rental and let someone else pay your mortgage. Hold until your ready to sell. It's like money in the bank and you should expect about a 7% pretax return. Think like your dads old truck. Enjoy your house and splurge on a vacation once and a while. Many 1% ers make their fortune in real estate.

    America is the land of equal opportunity, not equal success.
    “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.” .. Thomas Jefferson

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    Screamin SeaMonkees Schi-502's Avatar
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    Default FLA home

    Yes! Go for it!!!
    Loose, the Dogs of War!

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    Senior Member bville's Avatar
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    Why not wait 6 months and see which way the wind is blowing?

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    Senior Member bp298's Avatar
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    Quote Originally Posted by Forkin' Crazy View Post
    Should there be any concerns? I have been very conservative and have paid for my house and most of my land. Still driving my Dad's old 93 GMC for a beater!

    I am looking at a house on the water (bay and canal) on the east coast of Florida. Beautiful place.... I mean picture perfect... And a pretty good price with out any in-depth investigation. I have to admit I am apprehensive on pulling the trigger. I have crunched the numbers and can afford it, but what if Obama gets back in and we spiral further into economic turmoil?

    Maybe I should be looking at a place in New Zealand?

    PS was thinking of doing some vacation renting if zoned for so.
    east coast florida? maybe you can suggest ozerohurricane insurance. what's another 10 trillion debt but a mere drop in the bucket...

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    Quote Originally Posted by Forkin' Crazy View Post
    Sorry guys, this is just a scenario I am sure MANY are looking at. Just wondered if anyone thought the same.

    I am all about being an EVIL CAPITOLIST and buying low and selling high.... Isn't that what they/we do?


    And....................... you want to be nearer to your beloved leader Rush

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    Marine Organism Forkin' Crazy's Avatar
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    Quote Originally Posted by bville View Post
    Why not wait 6 months and see which way the wind is blowing?
    That is what I was thinking. I wonder how many others are thinking the same?

    Quote Originally Posted by bp298 View Post
    east coast florida? maybe you can suggest ozerohurricane insurance. what's another 10 trillion debt but a mere drop in the bucket...
    I'm a bit slow today, what?

    Quote Originally Posted by zombie View Post
    And....................... you want to be nearer to your beloved leader Rush
    Good grief fuck stick, is that the best you have?
    "An armed society is a polite society. Manners are good when one may have to back up his acts with his life"

    - - Robert A. Heinlein

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    I know two guys with a considerable amount of $'s to invest,but both are waiting until after the election,and if zero gets in again? I would wait also.

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    058
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    Quote Originally Posted by Jake View Post
    DON'T DO IT-HOARD YOUR CASH. Take the lead from big business and play the wait and see game.
    Sound advice.....I am following it as well.
    Within the heart of every stray lies the singular desire to be loved. "Good grief you're an irritating blowhard...." [Tex 6/16/11]

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    Senior Member brgrcru's Avatar
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    I would wait. I was going the other way, (Bad investment: was thinking of buying a new Sanger ski boat.) But will wait to see what happens in the next year. The money is real cheap right now, and its hard not to pull the trigger. But if they print another stimulus bill, watch out. were all big in-trouble then.

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    Senior Member WMorton's Avatar
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    There is a lot of shadow inventory out there with very little currently in the market
    , I think I would wait until it starts getting released again. Some are saying that will be shortly after the election.

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