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Who is .... Sheriff Joe????

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  • #76
    <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
    Anyhow, even if they are a USC they probably know someone who is illegal so sweating them a night or two for name drops may not be such a bad idea. I'll suggest that next time I visit. </div></BLOCKQUOTE>

    .... hmmmm maybe we should sweat you too for a 'lil while, because you know that you know "yourself some wetbacks"...

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    • #77
      <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
      Still, my main point is there was nothing eluding to an intrinsic motivation for violating civil rights in the pleadings or ruling. Throughout your posts you've hammered at skin color as the driving force for the abridgment. A complete falsity since you couldn't possibly know what went through the deputies minds on that road side. </div></BLOCKQUOTE>

      I bet that if the father and son were blond blue-eyed, last name being Smith, they would have surely stayed in line as well... that's what you're saying, right?? those darn money-grabbers...

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      • #78
        <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
        I agree with some of what you got there. Gold is an anomaly. I never thought it would break 1250 but it did. I think it will drop sometime soon just as silver is now taking a plunge. Real estate is the one item that no matter what, people will always need. Stocks are precarious and require a strong stomach to ride the ups and downs for more than a couple days when you've got tens or hundreds of thousands of shares floating around.

        With the foreclosures though, remember, it's the bank setting the price. There are a number of factors setting those amounts. First and foremost is the defaulting buyers loan balance. Others are sell value and expenses keeping it off market. A very high number of properties are technically in foreclosure but off market because the lender can not withstand the shock to their reserve ratio requirements. So, for many banks they held them hoping for a rebound in the market so they could recoup the loss. That isn't happening. Plus, with condos especially, there are ongoing costs such as association dues. If the borrower bailed out it falls back to the bank to pay them. It becomes a losing proposition holding it past a certain point.

        If these were units which were squatter occupied (defaulting mortgage holder) or abandoned, they might very well be a steal. Be as it may, there are a couple things to do before plunking down any money. I'd check the area out on my own first. First during the day while the early morning drive to work is in full swing. Congestion is a plus since that indicates it's an area people want to live in. Then, in the late evening for signs of blight and crime. Friday and Saturday nights are best for that. During the night it would be a good idea to do a lights on count of the complex itself. That should give you an idea of how many units are emptied out.

        Last, and perhaps most important. Find out who the property association is and get a copy of the CCR's. Those can be a killer depending on what's going on. The rules on repair and scheduled upgrades or remodels should be examined with a lot of scrutiny. You could buy a place for 40k and find out the roofs are about to be replaced and you have no option but to pay the bill they decide to give you. If all checks out, hell yeah, buy, buy, buy. </div></BLOCKQUOTE>

        Going to check some properties. Called up one 2 br condo for 6O+K and there is $400 condo association fee, that's totally crazy Who would pay more for condo fee than the mortgage itself??? And you will NEVER pay it off..

        Called up the realtor , but i already sense realtors are not most motivated to find you the real steal. So, once i browse and check out few will need to get access to public court filings and find the real deal on my own.

        Even though financing is difficult to get for more than one property (which, as you said, i can move into for one day), i think the chances will improve if i ask them to finance something significantly below current estimated market prices. Anyway, got nothing to lose , worst case scenario i'll learn more about searching for and buying houses. With everybody uneasy and things going south there just MUST be some good opportunities out there.
        http://www.anbsoft.com/images/usflag_med.jpg

        "...I contemplate with sovereign reverence that act of the whole American people which declared that their legislature should 'make no law respecting an establishment of religion, or prohibit

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        • #79
          There's always a catch. Condo fees of 400? That's a tad steap. That could be due to the number of current occupants and the bills that need paying to keep the complex up and running. There's probably a shortage so they are squeezing who ever is still sticking around.

          There should be some 'free' foreclosure sites that have current listings. There are a bunch of pay sites and most of those just re-list old units which in many cases have long since been sold. The free ones will be from an active agent engaged in selling them as a specialty. That's a good starting point. Once found, troll it everyday and pounce quickly. The good deals don't last more than a few days. In most cases any place with an association is going to be pricey from the lack of people living there.



          Micaelex, lighten up. You don't know 'hick' when you read it? It's a legitimate dialect of American English. Get used to it. Them rednecks be everywhere don't cha know. Aside that, ya look like one yerself with that blond hair and blue eyes. Or is that wishful thinking?
          This message brought to you by the vast right wing conspiracy.

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          • #80
            <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
            There's always a catch. Condo fees of 400? That's a tad steap. That could be due to the number of current occupants and the bills that need paying to keep the complex up and running. There's probably a shortage so they are squeezing who ever is still sticking around.

            There should be some 'free' foreclosure sites that have current listings. There are a bunch of pay sites and most of those just re-list old units which in many cases have long since been sold. The free ones will be from an active agent engaged in selling them as a specialty. That's a good starting point. Once found, troll it everyday and pounce quickly. The good deals don't last more than a few days. In most cases any place with an association is going to be pricey from the lack of people living there.
            </div></BLOCKQUOTE>

            Condo fee turns out to cover all utilities (gas, electric, heat/ac, water, sewer) and all maintenance (grass cutting, grounds maintenance, access to pool, 2 parking spots and so).

            Found one 3 BR condo for $38K (accepts cash only) , but it is almost a week on market and already got 2 offers.
            Anywho, 38K for 3 BR condo doesn't sound too bad, phase-in value is 118K , land itself valued at 38K so you basically buy land and get a condo for free. This is bank owned , foreclosed property. Non-foreclosed/pre-foreclosed sold recently for min. $54.000- $60.000 and max. $80+K, in the same condo complex.

            Went to location, spoke to one of the residents.
            The ongoing market rate to lease is approx $1200, but the catch is that HOA itself rents units there for $600 per month, though not sure if that's the rate for 1 or 3 br (so, basically you get $100 reduced Condo Association bill for owning the unit).
            Drove around. Visually not bad, premises are taken care of , all green grass evenly cut but buildings are dating to late 70s, so you get the picture. It's two blocks from golf course. Economically it's on the edge of well above average to well below average neighborhoods, belongs to rather not so good school district (so renting to families with kids who are concerned with school ratings may not be an option).


            There can't be major structural damage to unit, since it's inside the condo building but as far as inside condition, would need to check. I assume it's probably all trashed and may need all new carpet, painted walls, may be even kitchen fixtures, sink and toilet , but who knows, may be it's not in such a bad shape.

            In any event, should market rebound this property must have at least $120K going for it on the spot. If it doesn't then you are stuck with $500 bill which, if you pay for property all cash, you can always recover by renting it at $600, just as HOA does.

            Little bit of gamble there, of course, but still, a possibility.
            I have spent about 2 minutes to search and find property on google, another few minutes talking to realtor on the phone and little over 40 minutes to drive to, see around, talk to resident, less than 2 hours total spent. Zero experience doing it ever before.

            If it takes few hours to flip ten grands i am certainly in it. But methinks need to do a lot more research and find out much more before can seriously consider getting into it. Good advises there you've got.
            http://www.anbsoft.com/images/usflag_med.jpg

            "...I contemplate with sovereign reverence that act of the whole American people which declared that their legislature should 'make no law respecting an establishment of religion, or prohibit

            Comment


            • #81
              Taking a slow pace sometimes can be a huge benefit. And, it can help avoid a potential disaster. You'd be surprised how many people would jump on what looks like a sweet deal without checking anything. Next thing you know they're paying more in association dues than mortgage. Not a happy circumstance.

              Factoring in the rent received is next to the most important issue of price. Even if something is steep, like dues, it still might be worth it once the rent and other costs are weighed in. The resultant bottom line is the final decider one way or the other.

              Another item to consider is the bedroom count. Obviously higher equates a higher price. But, it also matters as to what is most popular for rental purposes. For families, 3 bed/2 bath is most common but may not be what is selling depending on the area. One way to tell is look at the rental rates and numbers available which is fairly easy to do via the internet for a specific area.

              Once you've got it down what to look for and how to qualify a property it will take all of an hour to figure out if it's a rose or a lemon.
              This message brought to you by the vast right wing conspiracy.

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              • #82
                <BLOCKQUOTE class="ip-ubbcode-quote"><div class="ip-ubbcode-quote-title">quote:</div><div class="ip-ubbcode-quote-content">Originally posted by davdah:
                Taking a slow pace sometimes can be a huge benefit. And, it can help avoid a potential disaster. You'd be surprised how many people would jump on what looks like a sweet deal without checking anything. Next thing you know they're paying more in association dues than mortgage. Not a happy circumstance.

                Factoring in the rent received is next to the most important issue of price. Even if something is steep, like dues, it still might be worth it once the rent and other costs are weighed in. The resultant bottom line is the final decider one way or the other.

                Another item to consider is the bedroom count. Obviously higher equates a higher price. But, it also matters as to what is most popular for rental purposes. For families, 3 bed/2 bath is most common but may not be what is selling depending on the area. One way to tell is look at the rental rates and numbers available which is fairly easy to do via the internet for a specific area.

                Once you've got it down what to look for and how to qualify a property it will take all of an hour to figure out if it's a rose or a lemon. </div></BLOCKQUOTE>

                i agree. never feel rush to open the purse. i practically never gamble. will think trice before taking any calculated financial risk.
                http://www.anbsoft.com/images/usflag_med.jpg

                "...I contemplate with sovereign reverence that act of the whole American people which declared that their legislature should 'make no law respecting an establishment of religion, or prohibit

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                • #83
                  This message brought to you by the vast right wing conspiracy.

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