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NotCranky
ParticipantHi Gary ,
You don’t have to justify your values. I think they are great ideas that you have.I always say “what you don’t spend you don’t have to earn”
My choice, when I first bought in 1992, was a shack in the Ghetto.My second choice was the same.I have always wanted to live as though it wouldn’t even matter if I lost my job.I personally had a great experience going that route and have many friends from that neighborhood. I stuck to those values and now have a wife that shares them. We are debt free including our nice house, not in the ghetto. I can not imagine working to pay for luxuries. Obviously other people don’t mind. “Different strokes” as they say. Had I stretched and struggled at the start I could have become a BK statistic instead. I have a friend that went the cheap condo route and stayed single. He has it made as he realised early on that all he needs is shelter for himself and his motorcycle. He can afford to spend a lot of time doing things and going places he would not be going to had he became a debt slave. Instead of spending time most of his time with his boss at work he spends more of it with whoever he wants to.On the condo note. There are entire condo conversion buildings where nobody got a good deal. One example, in your neck of the woods, is the Sunterra project at 589 N. Johnson.
There are 120 units, almost every if not all buyers are at least 40k-90k upside down.That wouldn’t be so bad but their payments are $2000-$2500 for places they could rent for $1000. I believe there are many crazy loans involved. Unless the banks intervene, it would seem that most of these are getting on the foreclosure train. This is scenario is happening all over the county.
Best wishes.ParticipantHi Gary ,
You don’t have to justify your values. I think they are great ideas that you have.I always say “what you don’t spend you don’t have to earn”
My choice, when I first bought in 1992, was a shack in the Ghetto.My second choice was the same.I have always wanted to live as though it wouldn’t even matter if I lost my job.I personally had a great experience going that route and have many friends from that neighborhood. I stuck to those values and now have a wife that shares them. We are debt free including our nice house, not in the ghetto. I can not imagine working to pay for luxuries. Obviously other people don’t mind. “Different strokes” as they say. Had I stretched and struggled at the start I could have become a BK statistic instead. I have a friend that went the cheap condo route and stayed single. He has it made as he realised early on that all he needs is shelter for himself and his motorcycle. He can afford to spend a lot of time doing things and going places he would not be going to had he became a debt slave. Instead of spending time most of his time with his boss at work he spends more of it with whoever he wants to.On the condo note. There are entire condo conversion buildings where nobody got a good deal. One example, in your neck of the woods, is the Sunterra project at 589 N. Johnson.
There are 120 units, almost every if not all buyers are at least 40k-90k upside down.That wouldn’t be so bad but their payments are $2000-$2500 for places they could rent for $1000. I believe there are many crazy loans involved. Unless the banks intervene, it would seem that most of these are getting on the foreclosure train. This is scenario is happening all over the county.
Best wishes.Participantwhy are they called brokers?
they “broker” the deal with the help from agents sometimes.I will have to Wiki that myself. I often mis-spell the word as “Borker” and feel like leaving it that way.Participantwhy are they called brokers?
they “broker” the deal with the help from agents sometimes.I will have to Wiki that myself. I often mis-spell the word as “Borker” and feel like leaving it that way.ParticipantI remember reading a link from the housing bubble blog on this topic about 15 months ago, more or less. The article included an interview with CAT people. They specifically were quoted as saying they were anticipating making adjustments due to a worsened housing situation and outlook. Sorry, I am not going to check Ben’s archives.
ParticipantI remember reading a link from the housing bubble blog on this topic about 15 months ago, more or less. The article included an interview with CAT people. They specifically were quoted as saying they were anticipating making adjustments due to a worsened housing situation and outlook. Sorry, I am not going to check Ben’s archives.
ParticipantFor the original poster,
It is definitely unethical and not a very smart practice. It would be illegal if the agent was in collusion with a seller or broker who is offering a higher commission on specific properties.I really don’t understand an agents motivation to put such a condition on a buyer. I would definitely fire the person and perhaps make an inquiry to the local board.Drunkle, to answer your question,which may in fact be rhetorical or faceatious one, a broker runs an office and all agents must hang their licenses under a broker. Brokers have supervisory obligations and in fact the broker is often the target of law suits when the agents do bad or dumb things. The last time I worked with an agent who was causing trouble I called his broker and asked him to get the agent out of the picture. The transaction was finished with the broker and a very qualified transaction coordinator. We never dealt with the chump agent again.
Yes SD R, he was from yor favorite brand name office, bringing me a buyer.ParticipantFor the original poster,
It is definitely unethical and not a very smart practice. It would be illegal if the agent was in collusion with a seller or broker who is offering a higher commission on specific properties.I really don’t understand an agents motivation to put such a condition on a buyer. I would definitely fire the person and perhaps make an inquiry to the local board.Drunkle, to answer your question,which may in fact be rhetorical or faceatious one, a broker runs an office and all agents must hang their licenses under a broker. Brokers have supervisory obligations and in fact the broker is often the target of law suits when the agents do bad or dumb things. The last time I worked with an agent who was causing trouble I called his broker and asked him to get the agent out of the picture. The transaction was finished with the broker and a very qualified transaction coordinator. We never dealt with the chump agent again.
Yes SD R, he was from yor favorite brand name office, bringing me a buyer.ParticipantIt is going to be commercial or require the variance of all variances, which ends up eating up tremendous money and time and has the risk of not getting approved in the end.
Go directly to the building Dept. of the various incorporated or county areas that you wish to do feasability studies in. I recommend your group hire a consultant to do this with you. My guess is that you will have to do EIR’s, pay developer fees,impact fees, ect if you try to do this from scratch.
Your mix of uses is really going to complicate things. Maybe you could consider splittng the project up on two or more properties?
Pomerado Road north of twin peaks might have some possibilities.
ParticipantIt is going to be commercial or require the variance of all variances, which ends up eating up tremendous money and time and has the risk of not getting approved in the end.
Go directly to the building Dept. of the various incorporated or county areas that you wish to do feasability studies in. I recommend your group hire a consultant to do this with you. My guess is that you will have to do EIR’s, pay developer fees,impact fees, ect if you try to do this from scratch.
Your mix of uses is really going to complicate things. Maybe you could consider splittng the project up on two or more properties?
Pomerado Road north of twin peaks might have some possibilities.
Participant“whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?”
Yeah one of those things…or…Buyer’s remorse.
Participant“whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?”
Yeah one of those things…or…Buyer’s remorse.
ParticipantHey Allan,
Just wanted to let you know that I have considered your points of view on the two posts that I have not
responded to completely. I am going to have to opt out of the discussion for now.
Thanks again for your time and consideration.Take Care
ParticipantHey Allan,
Just wanted to let you know that I have considered your points of view on the two posts that I have not
responded to completely. I am going to have to opt out of the discussion for now.
Thanks again for your time and consideration.Take Care
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