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  1. T

    Free Mobile Home - What Will it Cost You?

    REAL ESTATE 
    Good post. Another problem, at least in my area, is where to put a mobile home. Most parks won't allow an older model. Most vacant land is restricted to no single wide mobile homes. There is huge money to be made in mobile home parks, but outside of that its tough to place them around here...
  2. T

    So.... you know what's going on. Now, what to do?

    REAL ESTATE 
    I'm feeling the same way. I'm trying to figure it out myself, but your approach makes sense. I've always invested for net worth. My shopping list was pretty simple: decent house in decent area, house that was 25-30% below FMV, and/or a house that I could fairly easily make improvemnts to...
  3. T

    US credit shrinks at Great Depression rate

    INVESTING 
    Thanks for posting a very informative article. I'm trying to organize my thoughts on the topic, so this might ramble a bit. To put it bluntly, isn't this the move that makes the house of cards (the U.S. economy) fall? I mean, how are retailers going to survive this holiday season with so much...
  4. T

    Investing outside of home area

    REAL ESTATE 
    John, There is alot to know about real estate investing 500 miles from home. Honestly, I don't think it's for beginners. The first couple deals for a new investor are the most risky because you don't know where the pitfalls are. Trying to do the first deal 500 miles from home is really asking...
  5. T

    Tough decisions to make.....

    REAL ESTATE 
    I think this is the right thing to do. Good luck.
  6. T

    Great News for FHA buyers/Flippers/Realtors

    REAL ESTATE 
    An important clarification: the tax credit cannot be used for the minimum 3.5% downpayment requirement. It can be used for additional downpayment, closing costs, rate buydown, etc. They still want some skin in the game from the buyer.
  7. T

    Need $100k line of credit

    I think this is a good strategy. As you said, it won't hit your personal credit report.
  8. T

    Need $100k line of credit

    Hak, As the others have said be careful with this strategy. I have bought two houses on credit cards in recent months. I put about $45k each on two different $50k cards that had been paid off. As a result my credit score dropped dramatically, as a result of that my limits were reduced...
  9. T

    Why is the stock market surging?

    INVESTING 
    I don't understand. What is so much better now than it was 4-6 weeks ago? Is it that magical thing called confidence? Or something more substantial? I saw this headline today "Weekly jobless claims highest in 26 years." That doesn't sound like good news that would lead to a rally. I...
  10. T

    Mortgage rates fall to 5.12%

    REAL ESTATE 
    Matt, I just noticed in your profile that you're from Long Island, New York. You should probably disregard my earlier suggestion to see if you are in a targeted area.:smx8:
  11. T

    Mortgage rates fall to 5.12%

    REAL ESTATE 
    Matt, I don't think you are missing anything. You make good points and asked good questions. This does sound alot like the dog that has already bit us. Most people learn the after first time to stay away from the biting dog. Our government may not be that smart. But, for me its a tool...
  12. T

    Mortgage rates fall to 5.12%

    REAL ESTATE 
    These loans are for first time buyers in rural areas. Not farm and ag loans. I live in a typical Ohio small town. My whole area qualifies. These loans are for homes in town, in subdivisions, and on small parcels of ground. From what I understand its very similar to a typical FHA loan...
  13. T

    Mortgage rates fall to 5.12%

    REAL ESTATE 
    No predictions. I don't want to join the long list of people eating their words. But, I talked to my loan officer today and there are USDA rural development loans available for first time homebuyers. Basic criteria are 620 credit score, no money down, no PMI, and todays 30 yr. fixed is at...
  14. T

    How to find the best realtor when selling?

    REAL ESTATE 
    The best agent for you is one that: 1) Specializes in the type of property you want to buy/sell, and 2) Is very active in the area in which you wish to buy/sell. Others have given very good and more lengthy advice, but if you want to boil it down to whats MOST important, I believe those...
  15. T

    The Anatomy of a $20,000,000 Fastlane idea

    IDEA 
    The commercial was brillant, it had my wife and daughters saying "I want one" every time it ran. I thought it was a joke, but it did appeal to the females. Who's laughing now?
  16. T

    Citibank Tries to Buy Plane with TARP Money

    In my opinion, these guys should be fired before the bailout money was given. Actually, I don't think the bailout money should have been given at all. But, assuming the bailout happened, your companies participation in the bailout is proof positive that you have failed to run the company...
  17. T

    Lame FHA rule...

    REAL ESTATE 
    I hope this is the only suprise you get on this deal. Often, FHA will require a second appraisal on properties being "flipped" between 91-180 days after purchase. They can be hard to deal with on properties where the resale price is significantly higher than the previous sale. Just another...
  18. T

    Lower your food costs to $1 per day?

    HOT! 
    Thanks to all for an interesting read. It has me thinking about all things wasteful in my life. Alot. I don't even know what I spend feeding my family of five. I can look around and see most of us eat too much.... I (we) have been guilty of living the typical over the top, over indulgent...
  19. T

    SFR Owners: How is it going?

    REAL ESTATE 
    I'm struggling in everthing related to SFR. Can't sell much of anything. Quality of rental applications stinks. Good long term tenants are starting to fall behind. I've been in this business since graduating college in 1990 and have never seen things this tough. Job security (or lack...
  20. T

    Best Buy

    I agree. This has been happening alot lately. I think Bank of America announced 51,000 layoffs. Companies all over the country have been laying off 5,000 to 10,000 people and staying in business. Makes you wonder what all those people were doing. Apparently they won't be missed that much...
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