Might be Buying a house!!

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Justin24

Justin24

Rock n' Roll Doggie ALL ACCESS
Joined
Oct 14, 2005
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6,716
Location
San Mateo
Well 98% of my bills have been paid off except for my teeth, and Car. So my mom quite her teaching job and is now a real estate investor. So I went to a conference yesterday and got some info on what to do. So I am looking at house in Idaho. 3 bedroom 2 bathroom for 140,000 dollars. If I buy it I will rent it for 900 to a thousand dollars a month. They were saying that the housing and job market is going to grow in Idaho.

I am excited right now. Because If I did want to move to my own place. I have one.
 
Way to go! :applaud: I hope everything works out for you so that you can buy your house :). Having your mom in the real estate field is a bonus for sure! My guy and I are in the middle of searching for a house to buy :D
 
Re: Re: Might be Buying a house!!

Congrats, Justin, hope it all works out for you!



meegannie said:


:ohmy:

The tiny one bedroom flats next to mine cost more than twice that.
Click to expand...

I am constantly blown away by the variation in housing prices according to location. I watch some of the real estate flipping shows on TLC, and most of them take place in California. The prices for ordinary homes are $500,000+ (maybe someone who lives in the area can confirm this for me?). Where I live, in a city of approx. 100,000 an hour from Toronto, similar homes would cost $130,000 - $160,000. For $500,000 we could buy an almost-mansion! How do ordinary working people manage it? :ohmy:
 
Re: Re: Re: Might be Buying a house!!

VintagePunk said:
Congrats, Justin, hope it all works out for you!





I am constantly blown away by the variation in housing prices according to location. I watch some of the real estate flipping shows on TLC, and most of them take place in California. The prices for ordinary homes are $500,000+ (maybe someone who lives in the area can confirm this for me?). Where I live, in a city of approx. 100,000 an hour from Toronto, similar homes would cost $130,000 - $160,000. For $500,000 we could buy an almost-mansion! How do ordinary working people manage it? :ohmy:
Click to expand...

Yes, California real-estate is INSANE. I watch TLC and HGTV and all most of those shows about property, pricing, flipping, decoration :reject: We bought back in 1992, and the house has probably tripled in price since then, maybe more. If we actually did some work to the place, it would be worth even more. We go to local open houses and :shocked: at the dollar figure for our location. I-N-S-A-N-E!!! I could never buy a house here now, and I have no flippin' clue how people do it or how people make that much money to even get into one :crazy:
 
I am staying at my parents while I go to school. So we used to live in Daly City, CA. That house was given to us by my dads uncle so he could raise us in home. We finally decided to move to San Mateo, CA and sold the home I grew up in to a very nice family.

There son had open heart surgery as did my brother when he was 6 months old. And the mans wife sufferes from epileptic seizures now I guess the birth was tramatic that it affected her. We also sold our grandpas house to our former tenants, who we are very angry at. The land lord laws here in CA, especially in SF are not friendly.

The carpets in the house the walls were messy and they built another room downstairs in the garage that was not up to code and we didn't know about it until later. So we sold it to them for 680,000 dollars and a few months later we find out my grandpas house, where my dad grew up was condemed due to a fire that gutted the house.
:( :mad:

So with that money we bought our house in San Mateo for 800,000 dollars. With the left over money we are investing it. The value of the house jumped to 1.2 million dollars now.
 
VintagePunk said:
Craziness. :crack: If I lived in that area, I'd be in a cardboard box in some alley. :|
Click to expand...


Try being here in New York, I have friends making over six figures and they can barely live :| That's why I'm looking into relocating.


And yes I love all those house shows but House Hunters and National Open House is :drool:
 
one4u2 said:



Try being here in New York, I have friends making over six figures and they can barely live :| That's why I'm looking into relocating.


And yes I love all those house shows but House Hunters and National Open House is :drool:
Click to expand...

I know, major cities are really bad. :( So is Toronto, but not nearly as bad as major US cities, I'm guessing.

Justin24 said:
Where do you live?
Click to expand...

I'm in Brantford, it's an hour SW of Toronto. Our claim to fame is that we're Wayne Gretzky's hometown. :wink: Even for this area, the prices are lower than average here. Being that we're in SW Ontario, a highly populated area with a high concentration of big to mid-sized cities, many people end up buying here and commuting to work because of our comparatively low housing costs. The job market here in this city is crap, though. :( And for a city of its size, there's not a lot to do culturally or entertainment-wise.
 
LyricalDrug said:


Well, duh. A house is worth whatever someone's willing to pay for it, ultimately. But nothing else out there is remotely as accurate as Zillow.
Click to expand...

Well duh. I'm in the business and from my knowledge zillow has never been comparable to current market conditions!
 
I've spent hours on zillow :shifty: Not necessarily accurate, but probably somewhere in the ballpark more or less...


National Open House :drool: I think it changed from 'What You Get For The Money'. I like the new format better :drool:
 
Re: Re: Re: Might be Buying a house!!

VintagePunk said:


I am constantly blown away by the variation in housing prices according to location. I watch some of the real estate flipping shows on TLC, and most of them take place in California. The prices for ordinary homes are $500,000+ (maybe someone who lives in the area can confirm this for me?). Where I live, in a city of approx. 100,000 an hour from Toronto, similar homes would cost $130,000 - $160,000. For $500,000 we could buy an almost-mansion! How do ordinary working people manage it? :ohmy:
Click to expand...

Yes, it's crazy isn't it? I live in West Michigan and real estate here is really dirt-cheap compared to most of the developed world. We have a 4-bedroom, 1.5 bathroom house, small compared to most of my friends, but actually in the city in a "family" neighborhood and it would probably sell now for 150 or so. The same thing in the Cali hotspots would be half a mil. I guess one factor is that the West Michigan economy is very, very behind the rest of the country, so real estate and cost of living are down yes, but unemployment is high and we're getting paid shit.

Congrats, Justin! If you can afford it, I think investing in property is great. Like you said, you can make money renting it and in the future, make money selling it or even be able to leave it to your kids or grandkids.
 
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