 Is buying homes for back taxes a good idea, do you have to be a "handyman" to be able to make $ doing it? |
| i mean buying ones cheap for back taxes that are older, and fixing them up yourself, or hiring someone to do that? is that a good way to make money?... |
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 What do I need to to before I even look at purchasing a house? |
I know a fixed rate mortgage is better than a variable (9 times out of 10).
I have looked at some of the calculators online and am having trouble with the tax and insurance rates, as I ... |
|
 Can I be evicted when I am not on the lease..? |
| I moved in with a guy, who is not on the lease. His boss' name is on the lease, and now he's been fired. We're late a couple days, and the landlord is threatening to change the locks. D... |
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 Is there any way to get a house from a seller that has already accepted a bid from another buyer? |
| We were in negotiations to buy a house and the sellers received another offer. They asked for a "highest and best" offer, and we were outbid. Yet, we still want the house and are wondering ... |
|
 What Happens If I Sneak In My Dog? |
| If I rent a unit that doesn't allow pets but sneak in my dog what happens if they find out?... |
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 What are some sure signs of being in a predominantly upper middle class neighbourhood? |
| Note: Upper middle class usually implies people who hold a high level profession (eg. surgeon, Judge, university lecturer), or a job in upper management (company vice presidents, senior investment ... |
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 When do you do a home inspection? |
| I just want to know at what point do you do a home inspection when buying a home? We are currently in the process and I need to know when's a good time to have one.... |
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 Landlord refused to return deposit. Sue or not sue? |
| I live in CA, and my landlord has withheld my deposit for two months when he's supposed to return it within 21 days. I have cleaned my apartment, gave him 30 day notice and forwarding address ... |
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 Military couple trying to break lease!? |
| I was trying to figure out how my husband and i can break our apartments lease in California. We moved into this apartment complex in April 4, 2008, when he got out of the navy. First of all we did ... |
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 Can you buy a house filled with mold? |
| and does the city, state, or government do anything to prevent a house from being sold or rented if it has mold?... |
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 Is there such a thing as a real estate company that will buy your house if they don't sell it for you? |
| Someone told me this type of company does this so I was just wondering.My real estate man didn't mention this service to me when I signed up with him.My 6 months will be up in Nov,so far lots of ... |
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 Do you think that mortgage rates will drop in the next 30 days? I know it's not a sure thing, but I'm curious. |
| We're planning to refinance our 7-year ARM (5.125%, expires 12/2011) and 7.9% 2nd mortgage. Right now, we can get it at 6.25% in one mortgage, but we were hoping for a 6.125 or 6% mortgage (... |
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 What is the best way to get about $30,000 for a down payment for a home? |
Additional Details
OK people,
I live in South Carolina and make $45,000 a year. I could save about $2,000 a year with no problem and can afford a $1,000 a month payment for a ... |
|
 What are the pros and cons about living in a mobil home? |
| What is it like? Is it as bad as the TV says it is? I saw the inside of one today and I thought they were pretty nice. So why don't they give positive advertisements? Please any info is great! T... |
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 I think the goverment should be held responsible for all the people who took on? |
| morgages at extortionate rates in the past 10 years the British Goverment should be made to pay these families that can no longer afford to stay in their homes and for allowing Developers to charge ... |
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 Is it possible to give your house to the bank without being foreclosed on? |
| The reason I ask is that I purchased a home in Aug of 07' and now I've found a place that would much better suit me that is about 10k less than the place I own now. Do you think the bank ... |
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 My husband and I are planning to buy a house with my mother in law as a cosigner.? |
| my husband and i are planning to buy a house.the primary applicant is my husband and my mother in law as a cosigner as me n my husband both have bad credits.how would this affect our application and ... |
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 Counsel house problem. Can i live there after my father dies? |
| My father is ill and i don't think he will live 6 months, I have decided it is best if i moved in with him. That will mean giving my counsel house up and moving me, my husband and son into my ... |
|
 What's making my apartment so stinky? |
| I just moved in last week and my apartment is SO stinky. I was told before I moved in that meth users were living here previously. My landlord said she was sure there was no meth lab here, but they ... |
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thejohnnies1985 | Should I invest in real estate or pay off my mortgage or my primary home? |
I was thinking about buying a piece of property to rent as an investment but now I am second guessing myself. Should I pay off my primary home's mortgage early instead? |
 |
 
glenn
|
I think the comfort of knowing your home is paid off would be the best for most people.
If you find a good rental property that spits out a lot of profit each month then you could use that income to pay off your mortgage early-don't buy a property unless you can make a monthly cash flow on it (above the cost of insurance, taxes, principle and interest and repairs) |
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Mark K
 |
Pay Off the mortgage.!!! Using mortgage interest deduction as a reason to carry a mortgage is crazy. You are gonna pay the bank $10,000 so you can save $3000 in taxes????? Just pay me the 10k and call me a charity. Real estate is a good investment but you have to consider the risk involved. If your do not rent the property or the renter misses a payment or a major repair pops up you can suddenly face losing your rental property and your own home. |
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glenn t
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What an opportunity: PAY OFF YOUR MORTGAGE. This will give you an opportunity to set back some cash in savings that are secure and not subject to huge losses in a volatile real estate market. It is tempting to want to make a big killing, but there is no feeling like having no house payment and money you can enjoy without being under stress. We did it, and we are glad, glad glad. |
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RRR
 |
Forget richdad.com, tax advisors, investment planners and all that mess....you need to fully understand PEACE of MIND & DEBT FREE.
Sure there's this mantra out there about "using other people's money", but that's a sales pitch. Plain & Simple. (to sell books, or to earn your business another way)
Being DEBT FREE NOW is more important than becoming DEBT FREE with passive income 30 years from now.
Why? Well, what's the purpose of insurance? To protect us from the "unknowns".
There's also this little added bonus of "Peace of Mind".
Opportunities to earn "passive income" will come later, get out of Debt, even your home debt. And if your in Austin, TX then that kind of advice actually prevents me from earning commission! |
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Blue October
 |
pay off your mortgage...WOW - one less bill every month...congratulations.
when your mortgage is paid in full...you now have a great asset for any future needs.
When you sell...you won't have to worry so much about not getting enough to pay off the mortgage....
Wow this is great....congratulations
good luck |
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itman67
|
Invest your money in the rental - make syure the rent will pay both the mortgage & property taxes - run the rental like a business |
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Terry S
|
Pay off your mortgage.
Buying property right now does not make a lot of sense.
The real estate market has not bottomed and most likely won't bottom till the end of NEXT YEAR.
I have NEVER seen real estate turn around on a dime.
It will take years for it to bottom, then start a gradual climb up again.
Buying now is like trying to catch a falling knife.
Let the knife fall to the ground, then go and pick up the knife up once it bounces on the ground.
Too many hero's in the market right now thinking they can nail the bottom of this housing market.
Watch interest rates! If the 30 year fixed climbs above 7% this would be another negative for housing market.
Terry S. |
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Etta P
|
If you file a schedule a on your 1040's most likely better not to pay off your primary mortgage, best to confirm this with your tax advisor or accountant, but normally mortgage interest represents the single largest deduction that reduces tax debt for most people. So investment property can also be beneficial in this area also, but be ready with back up funds. It is proven that people do not take as good of care of the houses they rent, repairs can be numerous. Eviction processes can take months sometimes so have enough funds available to continue paying your mortgage if this happens, you never know. Or you just these funds and invest into a high yield money market or mutual fund and watch your balance rise while still keeping liquid, just a thought. Hope this helps! |
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