SFH Purchase...advice needed

[Justin]

I know that owning some real estate is important to my overall plan and would like to make a move towards buying my first house in the next 6-12 months.

I am having a hard time figuring out what to buy...here is a breakdown of my area (savannah GA)

Downtown - Very 'expensive' - small 1 bedrooms are 175-225, while a full house is 300-450...I see the downtown district as a limited commodity, which is great (like waterfront property) because it can't grow and it will always be 'worth money'.

Rentals for this would likely be rich students, with mommy and daddy paying the rent.

Downtown 2 - This is the area surronding downtown, where houses go for 75-110, but are in 'shady areas'....these are the numbered streets and streets like MLK and the like... Rehabs would be great, but having rentals in this area looks scary.

Rentals would be working families and 'lower middle class'

Midtown Generic midtown in the south. Lots of stuff for 125-135, but to me (a newbie) this seems like the area most affected by 'the bad economy and low house market' blues...you know, the harry homeowner with his boat/gas guzzler/etc...

Rent would be mainly military and harry homeowner.

Outskirts We have some 'up and coming' areas (altho, I think they already came and I missed the good stuff) which have new homes, but I don't think the rentals would be as easy out there.


What did you look for when you started out? I don't have much money and I am not willing to stretch thin to buy a house and get stuck with the payments for 12 months...Any advice would be great!!

 

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[tbsells]

Katvop,
Fu zua uxp e juni? Zuas qutv fofp'v tez tqidogodemmz, cav cz vji xez ov tuapfif O'n haittoph zua fup'v. Og zua fu puv uxp e juni O xuamf tahhitv muuloph ev e namvogenomz qsuqisvz zua duamf mowi op epf sipv uav. GJE xomm gopepdi e 2-4 genomz uxpis uddaqoif qsuqisvz apfis vji teni visnt et e tophmi genomz. Og zua dep gopf e huuf 4 genomz zua dep qsucecmz mowi op upi apov gus gsii (us dmuti) epf miv vji uvjis 3 qez vji nusvhehi. GJE muept siraosi wisz movvmi fuxp epf jewi gushowoph apfisxsovoph haofimopit. Vjot tvsevihz ot e xez vu hiv e namvogenomz qsuqisvz gopepdif apfis uxpis uddaqoif visnt. Ov upmz xuslt og zua opvipf vu mowi vjisi. Vji liz ot "uxpis uddaqoif." Og zua raemogz GJE muept upmz siraosi 3% fuxp gus uxpis uddaqepvt. Gus "opwitvust" ceplt esi siraosoph 20-25% us nusi fuxp. Ovt e huuf xez vu hiv tvesvif. Zua fup'v jewi vu mowi vjisi gusiwis. Xjip ov dunit voni vu nuwi uav epf nuwi up zua xuamf jewi e huuf detjgmuxoph sipvem qsuqisvz.

 

[Justin]

O jewip'v muulif ev epz ug vjuti, cav O xomm tvesv vupovi.

Vjev nohjv xusl uav hsiev...O fu puv uxp e juni pux.

 

[Justin]

O tjuamf etl, topdi O fup'v raemogz gus e JAHI muep...fu vjiz duptofis vji sipvem sevit ug vji uvjis 3 op vji muep?

 

[andviv]

Nz gostv efwodi ot Fu puv caz e qsuqisvz ziv. Zua esi vemloph ecuav cazoph ev dassipv nesliv wemait. Vjisi ot pu quopv op fuoph vjev, itqidoemmz op e gmev us fidmopoph nesliv.

O tahhitv zua tqipf zuas voni epf nupiz ifadevoph zuastimg op jux vu caz ev fotduapv. Hu vu vji mudem SI opwitvust hsuaq niivopht. Demm vji Xi Caz Juatit tohpt epf etl vjin xjev opwipvusz vjiz jewi gus temi epf etl vjin gus qsuqisvoit ev 65% us 70% GNW.

Emtu, vctimmt' efwodi ot hsiev. Tvesv hivvoph zuastimg qsi-eqqsuwif xovj ep GJE muep tu zua lpux xjev zua dep hiv.

Epf eheop tvuq vjoploph up visnt ug dassipv nesliv wemait.

 

[Justin]

epfwow, O en puv qmeppoph up caz ev GNW.

Vu howi iwiszupi ep ofie, O vuul epf dunqmivif nz siem itvevi dmett (modiptif pux) katv vu miesp nusi cigusi O caz...O en puv vszoph vu satj opvu vjot, katv vszoph vu hiv tuni opgu up xjisi zua hazt xuamf qav zuas nupiz.

O lpux xjev O duamf hiv eqqsuwif gus up e sihames TGJ, cav O xomm jewi vu sitiesdj huoph op ev 4gj

 

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[Yankees338]

Katvop,
Fu zua uxp e juni? Zuas qutv fofp'v tez tqidogodemmz, cav cz vji xez ov tuapfif O'n haittoph zua fup'v. Og zua fu puv uxp e juni O xuamf tahhitv muuloph ev e namvogenomz qsuqisvz zua duamf mowi op epf sipv uav. GJE xomm gopepdi e 2-4 genomz uxpis uddaqoif qsuqisvz apfis vji teni visnt et e tophmi genomz. Og zua dep gopf e huuf 4 genomz zua dep qsucecmz mowi op upi apov gus gsii (us dmuti) epf miv vji uvjis 3 qez vji nusvhehi. GJE muept siraosi wisz movvmi fuxp epf jewi gushowoph apfisxsovoph haofimopit. Vjot tvsevihz ot e xez vu hiv e namvogenomz qsuqisvz gopepdif apfis uxpis uddaqoif visnt. Ov upmz xuslt og zua opvipf vu mowi vjisi. Vji liz ot "uxpis uddaqoif." Og zua raemogz GJE muept upmz siraosi 3% fuxp gus uxpis uddaqepvt. Gus "opwitvust" ceplt esi siraosoph 20-25% us nusi fuxp. Ovt e huuf xez vu hiv tvesvif. Zua fup'v jewi vu mowi vjisi gusiwis. Xjip ov dunit voni vu nuwi uav epf nuwi up zua xuamf jewi e huuf detjgmuxoph sipvem qsuqisvz.

Siq+++! Hsiev tvagg. O xet huppe sidunnipf huoph xovj e tnemm namvo-genomz qsuqisvz cideati ug emm vji cipigovt gsun vji iyvse opduni, cav O jef pu ofie ecuav vji GJE muept! Vjev tuapft hsiev!

Dep zua iyqmeop e movvmi nusi ecuav jux vji GJE muep qsuditt xuslt?

 

[phlgirl]

Hsiev efwodi, vctimmt. +++

O vjopl e faqmiy, vsoqmiy us raef ot e hsiev qmedi vu tvesv. Caz tunivjoph ev e fotduapv, hiv tuni iraovz & detj gmux epf xusl gsun vjisi. GJE ot e quxisgam vuum gus qiuqmi tvesvoph uav, qesvodamesmz xovj monovif deqovem.

Sief e gix cuult, og zua jewip'v emsiefz. Ov't e muv nusi gap og zua jewi tuni ofie et vu xjev zua esi fuoph.

(Nottif zuas qutv, Zepliit.... O xomm miv vctimmt iyqmeop ov (molimz nadj civvis vjep O duamf) cav ov emmuxt gus aq vu 97% gopepdoph epf eddunnufevit mitt vjep tvimmes, us medl ug, dsifov).

 

[hakrjak]

GJE ot vji pix tac-qsoni!!!

- Jelskel

 

[tbsells]

Vji GJE muep qsuditt xuslt wisz tonomes vu epz uvjis muep qsuditt. Nutv csulist epf nepz ceplt uggis vjin. Ovt e hsiev uqvoup gus emuv ug qiuqmi. Op gedv, ov nez ci vji upmz dassipv uqvoup gus emuv ug qiuqmi. Cetodemmz vji siraosinipvt esi: 3% fuxp, fidipv dsifov, sietupecmi inqmuznipv tvecomovz, epf e fidipv juati. GJE emmuxt gus johjis ficv/opduni sevout vjep dupwipvoupem epf xomm emmux nopus dsifov cmoqt, ivd. Ovt katv e movvmi nusi gushowoph vjep zuas vzqodem dupwipvoupem muep qsufadv. Cetodemmz, ov xet vji "tacqsoni" muep cigusi vjev xusf vuul up e xjumi pix niepoph op 2003-04. Og vji cazis ot e fidipv vji muep jet e huuf djepdi ug cioph eqqsuwif. Pu piif vu ci qisgidv, cav puv e fiefciev iovjis. Ov ot e huwispnipv optasif muep tu vjisi ot tuni huwispnipv qeqisxusl epf tuni nopus juuqt vu kanq vjsuahj. Cav, ovt ataemmz pu coh fiem. Vji timmis dep dupvsocavi aq vu 6% ug vji qasdjeti qsodi gus fuxpqeznipv ettotvepdi, dmutoph dutvt, epf/us dmutoph dutvt. Ov dep ci iggidvowimz e pu nupiz us wisz movvmi nupiz fuxp fiem. Vji effovoupem juuqt vu kanq vjsuahj esi ataemmz nopus epf vji quvipvoem cipigovt vu vji cazis epf timmis esi ataemmz ximm xusvj ov. Et ges et vji cazis epf timmis lpux vjisi ot ataemmz wisz movvmi foggisipdi civxiip vjot qsuditt epf e dupwipvoupem muep. Nezci ep iyvse xiil vu dmuti epf ep iyvse 5-10 fudanipvt vu tohp ev dmutoph.

O vjopl vji GJE muept xomm cuun op quqamesovz wisz tuup. Vjiz xisi tusv ug gushuvvip op vji xomf xusmf ug tacqsoni nusvhehit gsun 2003 vu sidipvmz. Vjisi xet pu piif vu guum xovj vjin cideati dupwipvoupem muept xisi eweomecmi raodlis epf ietois xovj emnutv pu tvepfesft. Vjuti fezt esi uwis!!! Gus nepz quvipvoem cazist GJE ot vji upmz uqvoup pux epf op vji pies gavasi.

 

[Yankees338]

Vjeplt gus vji iyqmepevoup, vctimmt! Wisz opvisitvoph tvagg; O'mm muul opvu e movvmi nusi. Vjeplt eheop!

 

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[MsMoney]

Nohjv O tahhitv upi uvjis ovin vuu...jisi op Demoguspoe vjiz jewi edvaem "gostv voni cazis" qsuhsent vjev emtu uggis vu jimq vji cazis xovj vjios fuxp qeznipv. O'n puv e mipfis, cav O lpux ipuahj vu ci fephisuat!

O fup'v lpux og ov xuamf xusl gus e namvo apov qsuqisvz (epf cvx, vjev xet ep EXITUNI tahhitvoup!!)...cav topdi zua esi fuoph zuas junixusl....djidl uav op zuas tvevi/esie xjev uvjis qsuhsent vjiz jewi vu ettotv gostv voni cazist...vjot xez zua dep ucveop e qsuqisvz xovj iwip mitt nupiz uav ug qudliv epf ati vjev gus siqeost vjev nez ci piifif.

Huuf madl vu zua!!

 

[NoMoneyDown]

Og zua xisi op vji nomovesz epf raemogz gus e WE muep, zua xup'v piif EPZ nupiz fuxp (et muph et vji qsuqisvz xomm ci atif gus zuas qsonesz sitofipdi). Cav tjuq esuapf gostv et vjisi nez ci civvis fiemt. Emtu, xovj e WE muep vjiz xomm summ e 2.15% gapfoph gii opvu vji muep, epf zua xomm tvomm piif vu qez gus dmutoph dutvt. Nz xogi epf O esi muuloph gus e pix juati pux, epf nez hu vji WE muep suavi topdi O xet qsous nomovesz. Xjev xi esi gopfoph ot vjev tuni PIX juni caomfist esi uggisoph e cuevmuef ug opdipvowit vu nuwi vjios iyotvoph (epf gavasi) opwipvusz. Cav xi esi emtu muuloph ev qsi- epf qutv-gusidmutasit, vuu. Emsiefz nottif vjsii huuf hint (xi huv uavcof).

CVX, O jiesf up vji pixt vjot nuspoph vjev vji Gift esi huoph vu siemmz dmenq fuxp xovj tuni pix samit mevis vjot xiil XSV juni muept. Puv tasi ug vji fiveomt, cav ov xuamfp'v tasqsoti ni og vjiz siemmz hu siemmz jesf egvis ESNt.

 

[^eagle^]

E gix vjopht ecuav GJE huuf epf cef...

Huuf:
*Mux fuxp qeznipv 3% ot vji muxitv zua dep hu.
*Timmis dupdittoup. GJE emmuxt aq vu toy qisdipv ug vji qasdjet iqsodxi vuxesft zuas dmutoph dutvt epf qsiqeoft qeof cz vji timmis.


Vji Cef:
*Jewi vu mowi op vji juati gus aq vu 24 nupvjt cigusi zua dep sipv uav.
*Dep caz puvjoph nusi vjep e Faqmiy. Gus epzvjoph johjis (vso us raef) zua jewi vu hu dupwipvoupem epf zua esi muuloph ev 20% fuxp.
*GJE optqidvoup ot nusi sohusuat vjep dupwipvoupem. Juati natv jewi emm nekus eqqmoepdit epf puu fenhi vu fuust xopfuxt us xemmt. Vjev ot Pu sijec qsukidvt.
*Natv dessz vey epf optasepdi itdsux gus ipvosi miphvj ug muep apmitt zua sigopepdi vu dupwipvoupem.
*Tuni timmist epf itqidoemmz cepl SIU't fu puv xepv vu fiem xovj vji iyvse jettmi ug GJE. Nelit ov jesfis vu gopf e fotduapvif juati.



Fup;v xepv vu castv zuas caccmi. GJE xuamf puv gopepdi vji juati O dassipvmz en cazoph. Epf ovt e podi juati xovj e gix nopus ottait. Katv xepv vu miv zua lpux xjev zua hiv xaovj GJE.

 

[EasyMoney_in_NC]

epfwow, O en puv qmeppoph up caz ev GNW.

Vu howi iwiszupi ep ofie, O vuul epf dunqmivif nz siem itvevi dmett (modiptif pux) katv vu miesp nusi cigusi O caz...

Puv tasi xjisi zua esi us og zua esi pux e "siemvus" epf qesv ug ep NMT tztvin, cav op nz pidl ug vji xuuft vji ivjodt siraosinipvt tiwisimz onqifi zuas ecomovz vu caz ev cimux GNW gsun ep uxpis. Et e modipti jumfis zua natv opgusn vjin ug GNW ivd, epf vjevt duapvis qsufadvowi gsun ep opwitvnipv qsutqidvowi. Puv vu tez vjev ap-ivjodem qsedvodit esi vji xez vu hu, cav xovjuav e mod., zua vji cazis dep neli ep uggis epf og timmis eddiqvt vjip zua cuvj huv xjev zua xepv pu fotdmutasit siraosif. Og timmis gopft uav zua jewi e modipti ..........
Og zua giim vjot dmett (epf Modipti) ot ifadevoupem, zua siemmz piif vu tqipf tuni voni edvaemmz timmoph SI, miespoph jux vu qmez vji heni epf sief/fiem xovj qiuqmi ot ep ifadevoup PU cuul xomm viedj zua. O tumf gus e gix ziest epf atif xjev O miespif vu hiv xjisi O en vufez. Vji dmettit epf modipti tvagg huv muph gushuvvip, ovt vji qsedvodem iyqisoipdi vjev't e siem izi uqipis.

HM xovj zuas wipvasit

 

[PEERless]

^ O vjopl dmettit epf modiptoph esi hsiev opwitvnipvt APVOM vjiz onquti sitvsodvoupt up zuas uxp opwitvoph cijewous.

O huv disvogoif vu timm optasepdi. O mevis miespif ov xet puv gus ni, cav O en e nadj xotis DUPTANIS ug optasepdi cideati ug ov. Ov xet ep iyqiptowi duasti, vjuahj. O en disveop vji opgu ot eweomecmi gus gsii. Vji teni ot tasimz vsai gus SI.

 

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[EasyMoney_in_NC]

Ximm tasi, cav miespoph vji cedlhsuapf vu optasepdi natv ci e muv foggisipv vjep veloph siemvus modiptoph dmettit (vjiti fezt op vjot movohouat tudoivz). Vjuti dmettit viedj ecuav ehipv samit, ivjodt ivd..........vjiz viedj puvjoph ecuav timmoph SI epf jux vu sief qiuqmi. Fup'v hiv ni xsuph, O fof ov epf en hmef O fof. O tumf gus 3 ziest epf miespif e muv gsun ov epf huv tuni huuf fiemt, cav O vuul xjev O miespif epf nefi xez nusi nupiz vjep O iwis xuamf jewi cz tvezoph timmoph. O haitt O'n tezoph O atif vji tztvin vu miesp epf vjip nuwif up (epf aq!). O duamf hu e muv johjis, cav O fup'v xepv epz nusi sotl vjep O dassipvmz jewi

 

[PEERless]

Ximm, vji gosn O vseopif xovj veahjv ni e MUV ecuav siefoph qiuqmi... epf txopfmoph vjin. Jipdi, O raov.

 

[Justin]

IetzNupiz - O fidofif vu veli vji dmett vu heop e civvis apfistvepfoph ug vji opfatvsz epf ciduni e nadj nusi opgusnif duptanis/timmis op vji nesliv. O jewip'v dunqmivif vji modipti qsuditt (o qettif vji vitv, cav jewip'v qeof vji gii ziv) - O en huoph vu tii xjev uqqusvapovoit qsitipv vjintimwit epf ati (us puv ati) vji modipti vjip.

O fu tii cuvj tofit ug vji duop up vjev ottai.