All Forum Posts by: Eron A.

I wouldnt do it. Sounds like way too much work. And who wants to be staying somewhere with a 7.5ft ceiling?

I dont know your situation, and I have never done this before...but sounds like youd have to bust up the foundation, dig a hole even deeper than the footings and I dont believe digging around footings after youve already busted up the slab/foundation is a good idea at all. This is something I wouldnt even ask a pro to do.

I would opt for creating a 2 car garage with a studio type unit above it. Electricity would be easy, the plumbing would be a bit more work, IMO.

Selling during hyperinflation doesnt seem like it would be a great idea.

Say hyperinflation happens...get your hands on as many of these worthless dollars as you can, and pay off your loan. In fact, if your house doesnt currently have a mortgage on it, and you believe HI will happen, get a mortgage on it. Remember...during HI...dollars become worth much less, but...but your loan is to be paid back in dollars....b/c thats what the contract was for. :} BUT what if HI doesnt happen? What if deflation happens? What would you do then?

Not financial advice. Youll go broke listening to me.

Im trying to decide what to do. I know overall it depends on what works for you financially...but if we keep all factors equal...and just consider the prices compared to their tax values....can we discuss the pros and cons of purchasing each of these houses over the other one?

A 500K house 25K under tax value COMPARED TO A 325K house 75K over tax value.

From my little knowledge, Im thinking the $500K house would def be the best deal, but...maybe there is something Im overlooking?

Concerning my situation, Im confident I could make $500 over the PITI monthly...in both situations.

Can someone here link me to some retailers of kits? Im not sure if "kit" is the right term, but i want for example, a kitchen kit....and pricing. I dont want to have to price everything individually. Basically i need everything together for kitchen, and then for bath, etc.

im thinking of buying my first house and it needs to be fixed up. Its in bad condition.

FACTS:
- home has been in preforeclosure for about 10mos, and currently still is...and bank seems like they will give more time if i come up w/a plan.
- mortgage note is worth $70K, 7.3% rate, ~$600/mo
- ARV on house is ~$115-125K
- 3 heirs on title of house, and not sure if house went thru probate. house shows original owners on county tax site. 1 heir doesnt even have authorization to speak to the bank, b/c she was trying to give me authorization. now shes trying to get death certificates faxed, birth certificates faxed, etc so she can get authorization so she can give me authorization!

i know the bank is into making money, but what do you think the odds that the bank would let me grab it from them for $35K? seems this could work if it would help them save money. i originally thought, "ok, bank has made their money more than a few times over so they would be happy to let me simply pay off the mortgage for a discount," but actually i think its more about how much money they have to lose in the future....by going thru foreclosure process.

QUESTION: how should i approach this? is 50% off too much to ask? are banks usually open to payoffs like this one? blessings of your good thoughts and advice would be appreciated. thx!!!

Nevermind. Deletw this.