Rausche Posted March 16, 2009 Report Share Posted March 16, 2009 Great deal!! That house would go for $700k or more where I'm at! Quote Link to comment Share on other sites More sharing options...
SSThunder Posted March 16, 2009 Report Share Posted March 16, 2009 my ex purchased a forclosed house and got it for like $45K less that it appraised for so that's free money when the market picks back up. Now is the time to get into the real estate market. you can practically steal houses and rent them out for at least what your payment is. You get a tx write off and the property will make money for you sooner or later. Quote Link to comment Share on other sites More sharing options...
sonickoolten Posted March 16, 2009 Report Share Posted March 16, 2009 my ex purchased a forclosed house and got it for like $45K less that it appraised for so that's free money when the market picks back up. Now is the time to get into the real estate market. you can practically steal houses and rent them out for at least what your payment is. You get a tx write off and the property will make money for you sooner or later. xactly what im trying to do!! PARTY AT FOX's HOUSE!!! lol Quote Link to comment Share on other sites More sharing options...
fox_forma Posted March 22, 2009 Author Report Share Posted March 22, 2009 (edited) Do yourself a favor ... see if you can get a Bi-Monthly payment Mortgage ... You'll save thousands in the long run ... hmm, never thought of that, why will it save me in the long run? Little update: Got the house inspected, there is a lot of BS stuff that needs to be done since the previous owner thought he was a fix it man. He basically screwed up just about everything he touched it looks like. The counter tops look fairly new, but he installed them wrong and you can tell it was a DIY job and not by a pro. He missed a base board under the sink cabinets and also cut the side plate to high to the counter was uneven and putting stress in the center where the sink was. Since he didn't properly put in the base board the cabinets got warped and the whole top is now warped sinking in the middle. I plan on putting in new counter tops but I am going to try and salvage whats left for the time being by throwing in a new cabinet under the sink and redoing the side support. Should hold me off for a little. There was a lot of shotty wiring done in the house, mainly the attic where he tried to put fans in the rooms and the enclosed garage. Majority of it was just left hanging up there without junction boxes. On the east wall he had a slab of cement laid down, only it was filled up to the side of the stucco where it needs to be at least 3+ inches below so the water will drain away from the foundation. Gotta rent me a jackhammer or find someone to cut about a foots off with a cement saw. (jackhammer might be more fun) The previous owner tried to build a small entrance way off the back of the garage, complete hack job, has to come down when I redo the garage. Some of the bathrooms need work as well but function for now, will prob re-do them after summer. Roof tiles looked good but need to get an inspector out to make sure the paper under the tile is still good, if not then I am going at the bank for a credit to get that fixed since it is so major. House needs paint inside, mainly just because I don't care for the color choices and how they work with each other. Needs new doors for all the bedrooms, not to major. Pool needs a little work at the spa area where some cement somehow got chunked off, and the main garage needs some new sheet rock where they went through the wall to install a shower down stairs. Fun Fun Fun!!!!!! Some new pics I took today while at the house getting measurements! Who wants to help fix stuff? Edited March 22, 2009 by fox_forma (see edit history) Quote Link to comment Share on other sites More sharing options...
sonickoolten Posted March 23, 2009 Report Share Posted March 23, 2009 MAN NICE POOL ALMOST AS GOOD AS MINE Quote Link to comment Share on other sites More sharing options...
fox_forma Posted April 27, 2009 Author Report Share Posted April 27, 2009 (edited) Figured I would update since its been over a month! I was suppose to close April 17th, the bank that bought my loan frigging sucks. I have been dealing with nothing but complete morons which just worries me more down the line. I had to keep sending in papers and records and such that I have now provided a total of 5x for the same shit because the Underwriter I got assigned is a complete moron. So we get through the bigger stuff and everythings set! Oh but wait the seller/bank decided they weren't going to do the roof to the house after we had a verbal agreement. I got word of this on Tuesday the 22nd. Well I figured no real big deal it was a long shot so lets just get all this BS done so I can get into the house Well after more BS Friday was to be the day i get the keys. Thursday I had to wire my final down payment to the title company and my mortgage company was to finish it off on their end the same way. Wouldn't you know they missed the 1pm deadline for the wire. No big deal, they can get it done Friday morning by 1pm I can still get the keys and have the weekend to move. Oh snap, they F'd it up again and didn;t get the wire done in time. So now I am praying I get in Monday as it will give me 3 days to move all my shit, fix and paint the shit in the house and other things. The sellers agent on this deal is being a PITA as well and not doing anything in a timely manner so come tomorrow if I don't get the keys to the house, the sellers agent is going to have a broken face and the mortgage Co that "Bought my Loan" is going to get a personal visit and it will most likely end up with me leaving the building by security! The past 3 weeks I have been stressed to no end and there is nothing I can do. My broker and Realtor were practically in tears when i met with them about I was told the settlement didn't happen this past friday. My broker has already pulled multiple deals away from this mortgage company and will not be doing business with them again. So how is everyone doing? Edited April 27, 2009 by fox_forma (see edit history) Quote Link to comment Share on other sites More sharing options...
gbspigskin Posted April 28, 2009 Report Share Posted April 28, 2009 nice snag bro, i was just in that area looking. my parents bought a house in Gold Canyon about a year ago, and they are now getting a divorce and my dad is getting that house. so my mom wanted a house in AZ still so her and i purchased a foreclosure while we were there last week.... Totally stole the house, great time to buy and great investments if you know where to look, and know what your getting into!!!!! Congrats on the find though!!!! house looks great. Quote Link to comment Share on other sites More sharing options...
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