All Forum Posts by: Patrick M.

@Daniel Idstein did you do 15% down?  Just trying to understand the figures of two kitchen remodels and $66k cash invested.  

@William S. 53222 still gets you into Tosa West High.  I see the elementary school isn't as desirable as the ones closer to North Ave.  

@Corina Eufinger  What is the date, time and location for this meeting?  Thanks

I had a very wealthy friend once tell me "this big house is a joke.  my wife spends all day every day trying to keep it clean and the 4 of us use the same 3 rooms unless we have a large party which is often" 

Their house had an indoor basketball court.  6 bedrooms, theater, pool, 2 garages.  Most of it never got used in day to day family life.

The recession changed my generation to invest in memories that can't be taken away by the bank.  

I would also argue where tv changed the boomers and was a "time suck" social media is double that time suck amount.  Meaning the millennial generation feels the entitlement and addiction to their social media and therefore don't have the "time" or desire to clean/maintain an extravagant and large home.   Along with student loan debt that is through the roof.  

I think this is a good time for landlords that can provide quality SFH at a reasonable price to allow millennials the lifestyle/home upgrades they want without the commitments of actual ownership and the struggle to budget for down payment on top of student loan expense, car payment, vacation (for instagram likes) etc.

ahhh yes more policy to make it tougher on landlords...who by the way delayed instant gratification to save up to invest their hard earned money into a property in order to provide a roof for someone, who in turn doesn't want to (some can't) delay instant gratification, all with the goal of earning a little return for investing.  

It's 2019 SJWs make a full time job out of creating problems and then solving them with policy. 

@Raymond Hill same boat. Takes me back to athletics; trust the process. For us we're looking at the little victories, the fundamentals. We found a realtor and mentor. We got on the MLS. We narrowed down an area. We started looking at homes. We learned what to look for in a home on sight for our criteria. We recently felt the sting of maybe missing an opportunity where as before we hadn't had that "gut response" yet. The fundamentals are coming along and even though we haven't even formally offered yet we're still making progress and further along than we were in November.

Spring break will be over next week in our area and the MLS should start popping with inventory. Usually when you want to give up is when things start to happen. Stay with it.

  And @Peter Sanchez thanks for the Warren Buffet quote another good perspective.  

@Dennis Elverman what kind of renter have you picked up in the Wash Heights area?  I've noticed there is a decent strip that is situated between two moderate crime areas...just blocks away.  Curious if you have had any problems?  

@Melissa Nash are you implying it's not a good buy/hold market?  My brother lives in Birmingham and is searching for his first property although to owner occupy and move out of their apartment.  They are in the Vestavia Hills neighborhood which I understand to be very good, but very expensive.

@Kyle J.

Thanks for that look up on the interest rate variability.  

That's a great fixed rate option they're offering you! Any bank I've talked to in my area offers fixed rate at 5.5-7.0 based on amount and length of loan.  

@Michaele Arneson

Thank you for the response. Currently I'm applying for a HELOC through the same bank we currently use for the easy transfer as you described. I'll be less worried about the variable rate as well.