Sick of this sh*%#

[teenerted1]

just wait till they are 40 and their wife kicks em out...talk about drunken bitter slobs.

never again will a couple of days turn into a week. f

[Dueller]

Originally Posted by Schumi

So to follow up on this...

I'm going to be seeing my old friend with the house for sale next week some time. I'm going to ask some questions about it and see where I get. It's a two bedroom with hardwood floors, 1 really nice bathroom, small kitchen, basement, and a small 1 car garage. I remember that he was looking for $60K for it, which was what he paid for it back in 2003. It has been on the market now for almost a year. I've known this guy a while, he lives in Ohio now and is probably getting pretty sick of having a house for sale sitting back in Missouri. I rented the extra bedroom from him for a bit a few years back and really enjoyed the house and the neighborhood.

This is coming at a s***ty time unfortunately as I was hoping to buy another Porsche this summer to replace both my one 97 924S and my aging toyota daily driver. Kill two birds sorta deal, and pickup something like a 968 for a D.D. That will probably have to wait now.

At least look at lease with option to buy. Then sock away as much as you can for a downpayment.

[KFC911]

Originally Posted by Schumi

So to follow up on this...

I'm going to be seeing my old friend with the house for sale next week some time. I'm going to ask some questions about it and see where I get. It's a two bedroom with hardwood floors, 1 really nice bathroom, small kitchen, basement, and a small 1 car garage. I remember that he was looking for $60K for it, which was what he paid for it back in 2003. It has been on the market now for almost a year. I've known this guy a while, he lives in Ohio now and is probably getting pretty sick of having a house for sale sitting back in Missouri. I rented the extra bedroom from him for a bit a few years back and really enjoyed the house and the neighborhood.

This is coming at a s***ty time unfortunately as I was hoping to buy another Porsche this summer to replace both my one 97 924S and my aging toyota daily driver. Kill two birds sorta deal, and pickup something like a 968 for a D.D. That will probably have to wait now.

Man, that's awesome...now find a way to MAKE IT HAPPEN, as the right time is now! Forego the short term, Porsche, and just go for it. You will NOT regret this...good luck!!!

[rnln]

comeone tell us more, the detail.

Originally Posted by milt

Jeez, sounds like an all nighter with Schumi posting at 6AM his time. I had roommates for a very short time. I was living with a girl by age 20. They're not much better.

[rnln]

and when you divorce them, they want a half of it

Originally Posted by Dueller

I would suggest you buy a small place of your own...something manageable/affordable. Maybe big enough for one roommate. Two at the most. You can always kick them out if they don't live up to your rules.

I don't buy into the "investment" analysis or the tax deduction/"break" for home interest payments.

I DO buy into the $8000 tax credit you will get if you buy this year providing you have not owned a home in the last 3 years.

But perhaps MOST important at your age, the quantity and quality of your trim will increase. Chicks dig a guy with his own nest no matter how modest. Trust me...one of the first questions you will get when you bring a new one home is a subtle "Soooo...you rent this place?" When you respond "No, I'm buying it." they look at you in a whole different light.

They'll be throwin' that cat on you like pitcher on steroids.

[Schumi]

My buying the house depends on my decision weather or not to live around here for another two years and work on my getting my PhD here, or traveling like I had planned and goto school/work elsewhere.

**** is up in the air. I do know however that I will now be here permanently for at least another year. I'm going to be away off and on during the next three months for business and research trips but when I get back I will be making a decision..

[911Rob]

Good, relax a little; enjoy your room mates for their friendship; maybe party a little with them; these years are not going to last forever and you might as well enjoy them?

I look back and reflect..... and smile.

[Schumi]

Edit: and by here I mean in this area.

My rental agreement on this house is up in May. After that I still have another year of studies and research obligation here. I would be hard pressed to commit to the house with only a year potentially around. But If I stay for even some of my PhD then it is probably a good thing to look into coming up in the next few months.

[Porsche-O-Phile]

Originally Posted by Dueller

At least look at lease with option to buy. Then sock away as much as you can for a downpayment.

Those are surprisingly difficult to find. I've been looking for about two years and all the ones I've seen are horribly overpriced by dreamers/idiots who got in trouble by over-buying during the bubble and who are now looking for a sucker to dump their dumb mistake onto - at close to the price they paid.

I'm actually quite surprised that RTOs haven't appeared in a meaningful way yet. There's probably quite a market for it. If I had a ton of money to get started (unfortunately I don't), I'd buy up a few REO or short sale properties, then turn around and offer them as RTOs for people who might want to look at getting into their own place, but don't want the risk of getting stuck with an "anchor" in the current economy (i.e. if they end up unemployed and having to move, etc.) LOTS of people in this situation and it's probably one of the biggest things holding back any sort of housing market "bottom out" and eventual recovery - there's simply too much fear of getting stuck out of work in today's economy. RTO gives folks the flexibility to get out if they need to.

And here's the best part - if this happens, I (as the owner) would get the place back and be able to re-rent it to another person, all while continuing to have them pay my bills/mortgages. If it doesn't happen and they decide to exercise the option to buy in 2-3 years, then I've still made money and I've done a good thing for people (I've helped people to get into their own homes at a reasonable price and without gouging them for a commission or any B.S. like that). And I'm a friend of the community because I've put people into an otherwise vacant house. Everybody potentially comes out ahead.

Seems like there's a heck of a market for this and I'm fairly certain I could get it to work, but for the fact that one needs the money to get started. I ain't independently wealthy or from a trust-fund family or anything and right now the money guys won't play ball (financing is nigh impossible). Might be worth a few phone calls to see if I can find someone to say "yes" though... I really do think there's $$$ to be made here.