Buy or Rent? - Page 2

Alec-Eldifrawi · 06-20-2008, 07:58 PM

i would say buy, if anything it could be an investment come next year.

work2bfree · 06-23-2008, 08:14 PM

Yes, this is a good time to buy. Just be sure that if you are buying as a means to start a business, that you know what you are going to do with the properties you are purchase. Finding renters and selling the properties has become difficult.

gradyp · 07-16-2008, 06:58 AM

If I had the money to spare, I'd be a buyer about now. And I'd definitely make sure I had a fixed rate if I had to finance.

Who knows... If I can learn enough to get good at IM, maybe I can buy outright and not have to finance

Grady

work2bfree · 07-17-2008, 03:13 AM

That is my goal Grady; to buy properties in full. But, ultimately, I would like to purchase apartment complexes and storage facilities. These cost quite a bit of money. I will probably need to get other investors involved.

Sweetestmiracle · 07-18-2008, 05:52 AM

WOW! God works in mysterious ways. Its funny that I have not been on the forum for a day and I see this post. I was just talking to my husband about looking into buying a house instead of renting this dumpy apartment. I would be a first time buyer and my neighbor was saying it was not a good time to buy still. But from you all, I think I will start checking into it.
Take care all!

work2bfree · 07-19-2008, 01:51 AM

Yes, if you have the credit, this is the time to buy. If you look around, I am sure you will find some excellent bargains.

Sweetestmiracle · 07-20-2008, 09:32 PM

I am hoping to find property outside of the city. I need some fresh air. Going out next weekend to search. I am so excited!!

eurika · 11:33 AM

I would certainly purchase a home at this time as opposed to renting one and though you could possibly experience an initial devalue in the property consider the long term gain which would greatly surpass your initial investment. Of course I think it is also important to consider the location you are purchasing a home in as each state has a different market.

work2bfree · 08-05-2008, 03:59 AM

Location is important, but the better the location, you will often encounter higher prices. So, it all depends on what is most important to you.

I wanted to get my feet wet in real estate investment and my goal was to purchase 10 in my first year. Well, I tried my best and many of the homes I purchased are not in the best places. But this also leads to another important topic. If you are interested in investing in real estate, one of the first things you should do is to prequalify. Prequalifying will inform others and you the amount of a home you can afford. So, if you prequalify, you may discover that you prequalify for $200,000, or $400,000 or maybe even $100,000 or even less. What this says is that if you purchase properties, this is the total amount of money that you can qualify for.

So, if you want to purchase a home in a better area, you may have to accept fewer properties. You can still get nice properties in areas that are not the best. You just have to be sure that you have the properties inspected. It may cost $200 or $250 or more for the inspection, but in the end it could save you a lot of money.

I did not get my total of 10 properties. I ended up getting only 6 properties, but it has been a lot of work with just the 6. Maybe it was a good idea that I did not get the 10.

gradyp · 08-05-2008, 06:59 AM

Ah... If only I could be the savvy person who recognizes an area that's just about to explode and be able to take advantage of it...

Maybe someday, I'll have the money to make investments like this

There's an area just north of where I live that would have been a fantastic investment if we had moved there instead of where we moved 7 years ago. So much has grown up out there that our equity would already probably surpass, or nearly surpass, what we would have owed on the place

Hindsight is 20/20

Grady