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  • March 13, 2009 at 4:14 PM #15296
    Limbo
    Participant

    I’ve been looking at buying somewhere for about $250k in cash, to live in and then rent out in a year or so. I don’t need to be anywhere for work or schools. I’ve looked at listings in many areas where prices have declined the most, and then checked them against craigslist for rentals and it seems some areas like Temecula and IE are showing a bit of promise in terms of returns. I’m not familiar with these areas and was wondering if anyone could tell me where I could zero in, or had any other suggestions.

    March 13, 2009 at 5:01 PM #365529
    Doofrat
    Participant

    Why not just rent? A lot of people got into trouble the last couple of years because they thought the house and or the financing they were getting into were just “temporary” and they would just sell or refinance if they needed to.

    March 13, 2009 at 5:01 PM #366129
    Doofrat
    Participant

    Why not just rent? A lot of people got into trouble the last couple of years because they thought the house and or the financing they were getting into were just “temporary” and they would just sell or refinance if they needed to.

    March 13, 2009 at 5:01 PM #365819
    Doofrat
    Participant

    Why not just rent? A lot of people got into trouble the last couple of years because they thought the house and or the financing they were getting into were just “temporary” and they would just sell or refinance if they needed to.

    March 13, 2009 at 5:01 PM #366017
    Doofrat
    Participant

    Why not just rent? A lot of people got into trouble the last couple of years because they thought the house and or the financing they were getting into were just “temporary” and they would just sell or refinance if they needed to.

    March 13, 2009 at 5:01 PM #365981
    Doofrat
    Participant

    Why not just rent? A lot of people got into trouble the last couple of years because they thought the house and or the financing they were getting into were just “temporary” and they would just sell or refinance if they needed to.

    March 13, 2009 at 5:55 PM #366164
    Limbo
    Participant

    Well, firstly I am just renting, and secondly I’m not looking to finance or sell in the short term.

    March 13, 2009 at 5:55 PM #366052
    Limbo
    Participant

    Well, firstly I am just renting, and secondly I’m not looking to finance or sell in the short term.

    March 13, 2009 at 5:55 PM #366016
    Limbo
    Participant

    Well, firstly I am just renting, and secondly I’m not looking to finance or sell in the short term.

    March 13, 2009 at 5:55 PM #365854
    Limbo
    Participant

    Well, firstly I am just renting, and secondly I’m not looking to finance or sell in the short term.

    March 13, 2009 at 5:55 PM #365564
    Limbo
    Participant

    Well, firstly I am just renting, and secondly I’m not looking to finance or sell in the short term.

    March 14, 2009 at 8:02 AM #366287
    EconProf
    Participant

    I really just don’t get your reasoning.
    If you have $250k to buy, you can really get a good deal now and drive a hard bargain, true enough. But at the rate things are falling in price, in 6 – 12 months you can get the same place for less. Why buy now?
    Furthermore, if you must buy now, with that kind of liquidity, you can get a terrific loan. If this is going to turn into a rental in a year or two, nothing like a 5% loan to make it cash flow. A common and profitable tactic is to buy a rental property with an owner-occupier rate loan.
    Preserving your liquidity really keeps your options open; sinking it all into an all-cash purchase does not.

    March 14, 2009 at 8:02 AM #366090
    EconProf
    Participant

    I really just don’t get your reasoning.
    If you have $250k to buy, you can really get a good deal now and drive a hard bargain, true enough. But at the rate things are falling in price, in 6 – 12 months you can get the same place for less. Why buy now?
    Furthermore, if you must buy now, with that kind of liquidity, you can get a terrific loan. If this is going to turn into a rental in a year or two, nothing like a 5% loan to make it cash flow. A common and profitable tactic is to buy a rental property with an owner-occupier rate loan.
    Preserving your liquidity really keeps your options open; sinking it all into an all-cash purchase does not.

    March 14, 2009 at 8:02 AM #365800
    EconProf
    Participant

    I really just don’t get your reasoning.
    If you have $250k to buy, you can really get a good deal now and drive a hard bargain, true enough. But at the rate things are falling in price, in 6 – 12 months you can get the same place for less. Why buy now?
    Furthermore, if you must buy now, with that kind of liquidity, you can get a terrific loan. If this is going to turn into a rental in a year or two, nothing like a 5% loan to make it cash flow. A common and profitable tactic is to buy a rental property with an owner-occupier rate loan.
    Preserving your liquidity really keeps your options open; sinking it all into an all-cash purchase does not.

    March 14, 2009 at 8:02 AM #366251
    EconProf
    Participant

    I really just don’t get your reasoning.
    If you have $250k to buy, you can really get a good deal now and drive a hard bargain, true enough. But at the rate things are falling in price, in 6 – 12 months you can get the same place for less. Why buy now?
    Furthermore, if you must buy now, with that kind of liquidity, you can get a terrific loan. If this is going to turn into a rental in a year or two, nothing like a 5% loan to make it cash flow. A common and profitable tactic is to buy a rental property with an owner-occupier rate loan.
    Preserving your liquidity really keeps your options open; sinking it all into an all-cash purchase does not.

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