All Forum Posts by: David Roberts

The market here is on fire...get it while you can.

I like the saying, "Better to buy a great house at a fair price than a fair house at a great price".  

If the numbers work for your criteria, then it's a good deal for you.  Don't worry about anything else.  You always want to get it cheaper, but you can also bid yourself out of deal after deal doing that.  If the numbers work, they work.  

If you have an equation you are happy with, and a house fits, move on it.  If it doesn't fit, pass on it.

I wanted to check in as well.  Did you do a deal?  

Do you work in a large corporation?  I do, and my boss sits 5 feet away in a cubicle kitty corner to me.  I'm sure he's heard me talking to my Realtor during work hours. He's never asked about it, but I'm pretty open at work about it so I'm sure someone's said something.  

If he ever said something to me about taking calls on lunch or before/after work, I'd abide by it.  But I've not had a problem.  In fact, just look around at how many people are constantly distracted with screwing around on their smart phones.  I have GOT to think that at least for the corporate world, smart phones have had to destroy productivity.

If you don't care for your job, you can disappear in corner or the bathroom and play games on your phone for 20 minutes at a time, or until your legs go numb...not like I know about this..LOL.

you are in a great area for investments.  Welcome home. 

In SE Michigan where I am always looking, it seems as newer or new homes (post 2000 built) are back to or within 10% of the price that they were sold brand new.  Older existing homes, 1950-1970 range are only selling for about 50-60% of the high prices in 2006.  

I'm only 36...I really don't know a time of high interest rates.  I don't know what it's like to see interest rates climb over time.  Interest rates have been falling all of my life lol.  I don't know what it's going to take to see rates go higher.  I'd suspect real good economic growth, but then I ask, what is going to cause it?  

Will the rest of the world have to catch up in the cost of doing business for companies to want to come back to the USA, and in turn will drive wage growth and better jobs?  

There are many differences.  Your husband is right about paying closing costs twice.  You can usually get better deals with all cash, as there's less risk from the seller's side of the deal falling through.  Some sellers will take a lower cash offer than a higher offer with shaky financing attached.

All cash there's added risk of losing the investment, therefore losing all your cash.  If you lose a house with only 10% of your cash left in it, then you lose 10% and still have 90%.  It takes many years to recover all the money out of the house if you buy all cash and never refinance, but from a purchase price point of view, it's the most profitable assuming you don't plan to leverage the money again (you only pay 50k for a 50k house, versus 50k + interest for years). 

If you cash out, you can leverage the same money again.  If you don't intend to leverage it again, then why take a mortgage?  You're just paying out money in interest for no reason. Just my opinion.  But if you're still building, leveraging allows it to occur faster.

Anybody that has been burned in the stock market or lost an investment that had a lot of cash invested will probably tell you they don't like leaving their cash in the investment if they don't have to.  Money grows faster the faster it moves.  If it's sitting in the investment, then it's not moving, therefore it's not growing as much.  But, it can also be lost ;).  Nobody likes to talk about that though.

one thing ive learned is how dangerous rationalization is.  

Maybe

5:30pm tonight,  meeting at buffalo wild wings in ann arbor on state street and boardwalk. Ask for joe villeneuve and tell him i sent you.   2 hour meeting,  very laid back,  lender night. 

I won't be there tonight,  have to tend to my tenants. 

I hope i can post this.  If im not allowed,  sorry