...I can borrow, please?

I'm looking at forclosed houses right now, mainly because they are cheap, but they're all probably cheap for a good reason...

Gonna be moving down there for school in <2 months, and I want (/need) a place to live in...

 

me too. who's got the skinny?

 

Foreclosed houses aren't quite the deal everyone thinks they are. Picking one up cheap takes lots of experience, time, and effort. Basically there are two ways to buy them, foreclosure auctions or finding one in foreclosure proceedings and pay out the person before the house gets foreclosed on. Both require money. Most people aren't going to sell their house for a huge loss until they are faced with having to move out or a couple weeks before hand which is pretty much too late and with on average it taking 30 days to get funding for a mortgage it is very hard to do with conventional financing. If you want to buy one at a foreclosure auction from tax liens etc. you need to have cash on hand and you can really get screwed. One time my parents purchased a property that they had all the information on at the county court house and the county official came out and handed them an additional tax lien that they now owed for $160,000 in addition to paying for the house. Don't think its all negatives though as it can be done, if you don't know how to buy foreclosures just do some research from FACTUAL sources, not "real estate gurus". Two months doesn't give you much time to buy a property either, I have been looking for a property for when I go to school in Seattle next summer for over 4 months and still haven't even found anything that resembled a decent deal at all.

 

****...looks like a studio or 1bdr apartment for the next 6 months to a year for me...

thank you sir for the heads up though...

 

If you have credit to purchase a house I would try looking at houses with a good number of bedrooms close to where you will be going to school. If you don't mind roommates you can rent out the other rooms and more than pay for your mortgage. You can also find a place that needs some work, get a roommmate or two so you only have to pay around $500/month just like you would with an apartment, fix up the yard and paint it etc. while you live there then sell it and make some decent money when you sell it. You will most likely have to get a month to month rent on an apartment though in the meantime because it can take awhile to find a good deal on a house. Good luck. Heres a site I recommend going through if you are interested in real estate investing if you want to avoid wasting a lot of time and money on stuff that probably wont work. http://www.johntreed.com/realestate.html

 

I'm pretty sure I have perfect/near perfect credit.

The idea of starting a house consisting of drift people was the first and most viable ideas that I've come up with, although the maturity level of drift people (myself included) in keeping up with payments, staying out of jail to make those payments, and affording car parts and tires while still maintaining a livable household, is very, very, very, questionable to say the least (although far from impossible).

Add to the fact that this potential household will probably consist of twenty-something year old males with one/two/three "decently" paying part-time jobs (again myself included), egos, active drinking and substance habits (again, myself included), girls, and you'll have to forgive my initial skepticism of it working...

(sigh)


...

...it would sure as hell make for one hell of an adventure though, one that I am more than willing to invest, initiate, and be a part in...


...****, I guess there's only one way to see...

 

You going against pro's that do this for a living and have ppl on the pay roll just lokking for a finders fee. We as average ppl cant compete but what falls through the cracks. Look luck though its a battle and all it takes is time and $$$

 

Hey...welcome to the country. I love it here. Where are you going to school?

 

hey earl, justin here. my girlfriend has a room for rent at her house. not exactly the place I see you living, but none the less it is some where to sleep. plus it's like 1 mile down the road from the the ultimate hag out, OUR HOUSE. by the way how much $ are you looking to spend on rent if I could track you down a place. maybe if ever come hang out like you tell jesse you are I can show some places. by the way, you need to make it to HIN and check out my car. I'm rocking Johns black and blue advans, they are, how do you say, SICK!!!!!