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  1. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    First, thanks for answering and trying to help us understand. So if I understand this correctly, you cannot purchase public housing until you reach 35 years old? Does the public housing ever appreciate? This doesn't make sense to me, if you can buy it at $400k, then someone who is 25 years...
  2. biophase

    Opportunities in Pickleball?

    IDEA 
    Places like Chicago could use some indoor courts for winter time. They could charge so much per hour just due to the demographic. If 4 people wanted to get in 2 hours of fun exercise when it’s 5° outside, what would we pay? $200 easy. Maybe $300?
  3. biophase

    Opportunities in Pickleball?

    IDEA 
    Played here in Mesa, AZ. Was like $40 to rent a court. Awesome complex but it’s already in default. They just went too big! 8 Baseball and Softball Fields 19 Basketball Courts 35 Soccer, Football and Lacrosse Fields 57 Indoor Volleyball Courts 12 Beach Volleyball Courts including a 1,500 Seat...
  4. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    Yes I think that’s the MAIN advantage with real estate. You can lock in your “rent” payment for 30 years if you want to. Yes taxes will go up but that is minimal. HOA is a different story though. If I stayed in my house I bought in 1999 I would be paying $1200/mo right now for a 4br/3ba house...
  5. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    This is hard thing for younger people to swallow. When I bought my first house in 1999, I thought, man in 2029 and the house will be all paid off, that is a long long time. But reality was that in 2004 I sold it and moved. You can always sell your place or pay it off faster. There's a high...
  6. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    That is just ridiculous. How did you come up with this number? So if you have $300k and inflation is 5%, you are ok with losing $15,000 a year in buying power? I have no words for your perspective. I mean I could see you saving $50k, but $300k or $500k? This sentence is so ironic. You are...
  7. biophase

    The lifestyle, hobbies, and fun thread.

    HOT! CHAT 
    Damn, I would probably redo the floor. I guess it depends on how much usage you'd get out of it. I would imagine many neighbors would love to come by and play during the winter. Today I played pickleball with a retired guy. He used to be a builder and I asked him about building an indoor...
  8. biophase

    The lifestyle, hobbies, and fun thread.

    HOT! CHAT 
    That's good to know. I will make it a pickleball court first and basketball court second. I play here at the grammar school gym which is a basketball court in the basement. The ball bounces decent on it. If you aren't getting enough bounce try using an outdoor ball inside.
  9. biophase

    The lifestyle, hobbies, and fun thread.

    HOT! CHAT 
    I see pickleball lines on the court! Been playing a lot of it lately. That’s my goal to have an indoor ball court. Doesn’t need to be full court like that one. Been playing a lot of pickleball lately. Btw side note, if you want to meet/network with a bunch high net worth individuals. Go play...
  10. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    I don't know much about FHA loans. I think the homes have a more stringent requirement? But yes, you want to have a good credit score so you can get the best interest rates. That goes for FHA or any loan you can get.
  11. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    I have seen this mentality play out over the last 10 years. This is exactly why I made this post. You have freedom, cash and can do whatever you want. But what is your plan in 2033? Don't be like some people I know that cleared $1M in 10 years and have $0 networth, because they wanted...
  12. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    Not to mention this isn't even taxed at the state level. Save another 4%-10%! Since I started my business in 2007, I've encouraged all my friends to start one too. 16 years later, I've learned that most people are just not cut out to start or run a business. A good chunk of our population...
  13. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    The first thing I would do is talk to a mortgage broker and find out what I need to qualify for a loan. If you need to have 2 years of 1099, then you'd have to wait until 2024. There are probably programs that will take 1 years of 1099 income. But the rates could be higher. Without knowing...
  14. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    This would be tough call for me. I understand you wanting to start your business right away. You have a 3 year deadline and would buy a house at that point. But I can also see you buying a house now. Then saving the money up again and doing your business from 30-33 years old. The largest...
  15. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    I don't agree with this, but I don't 100% disagree with it. I mean in your early 20's, you really don't know what you will be doing in the next 6 months, let alone a year later. You probably shouldn't be buying anything at this point. Maybe live with roommates and get to know yourself. But...
  16. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    I never thought of that. I never even knew these were available until today. I thought my friend got in during a special temporary assistance program. But in the city of Avondale I did not see the prices go up even though they had this program for the last 13 years. I had an investment home in...
  17. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    The one thing about interest rates, is that you hope you can refinance when the rates drop. I know this is a big if. But if you can afford the higher payments, you can get the house you want now. Maybe refi in 5 years when rates drop. It's an interesting gamble. Let's say the house you want...
  18. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    Congratulations. I think there is some comfort in knowing that your payment ("rent") will stay at $1750 for the next 30 years if you don't move at all. 20 years from now, when rents are $10,000/mo. You'll be sitting pretty like my friends who are paying $400 a month now. I know that for me...
  19. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    Well sh!t, I went down the rabbit hole and googled '$50,000 down payment assistance program" and found a bunch. So they are out there. I've never looked for them. Here's a link to one in Massachussets. Up to $50k in down payment assistance, no payments, no interest. You pay back when you...
  20. biophase

    Why you should buy a home as early as possible.

    GOLD! HOT! ASSERTION 
    BTW... I just looked up the city my friend purchased in and the program is still available. Avondale First-Time Homebuyer Program The City of Avondale currently operates a program to assist qualified households with the purchase of their first home in the City. In order to participate...

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