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patientrenter
ParticipantMany thanks, surveyor. Where do we go to get more info on this kind of investment? I am interested in investing maybe $200-$250K and don’t want to spend forever examining, buying, and then maintaining lots of properties, so I’d want to spread my money over maybe 3-4 properties. Is there a forum, magazine, club…?
Patient renter in OC
ParticipantMany thanks, surveyor. Where do we go to get more info on this kind of investment? I am interested in investing maybe $200-$250K and don’t want to spend forever examining, buying, and then maintaining lots of properties, so I’d want to spread my money over maybe 3-4 properties. Is there a forum, magazine, club…?
Patient renter in OC
ParticipantMany thanks, surveyor. Where do we go to get more info on this kind of investment? I am interested in investing maybe $200-$250K and don’t want to spend forever examining, buying, and then maintaining lots of properties, so I’d want to spread my money over maybe 3-4 properties. Is there a forum, magazine, club…?
Patient renter in OC
Participant“People like the OP, and borrowers in general, will not be bailed out.”
FairEconomist, I have to disagree with you here. When home prices are supported by actions that grant public money or valuable guarantees to borrowers or their lenders, there is a transfer from taxpayers in general to any indebted homeowners who still have some equity, or to any lenders facing losses. Even the reduction in lender losses becomes a future transfer to leveraged homeowners, as future home prices go up in response to cheaper lending spurred by the prospect of future bailouts.
Patient renter in OC
Participant“People like the OP, and borrowers in general, will not be bailed out.”
FairEconomist, I have to disagree with you here. When home prices are supported by actions that grant public money or valuable guarantees to borrowers or their lenders, there is a transfer from taxpayers in general to any indebted homeowners who still have some equity, or to any lenders facing losses. Even the reduction in lender losses becomes a future transfer to leveraged homeowners, as future home prices go up in response to cheaper lending spurred by the prospect of future bailouts.
Patient renter in OC
Participant“People like the OP, and borrowers in general, will not be bailed out.”
FairEconomist, I have to disagree with you here. When home prices are supported by actions that grant public money or valuable guarantees to borrowers or their lenders, there is a transfer from taxpayers in general to any indebted homeowners who still have some equity, or to any lenders facing losses. Even the reduction in lender losses becomes a future transfer to leveraged homeowners, as future home prices go up in response to cheaper lending spurred by the prospect of future bailouts.
Patient renter in OC
Participant“People like the OP, and borrowers in general, will not be bailed out.”
FairEconomist, I have to disagree with you here. When home prices are supported by actions that grant public money or valuable guarantees to borrowers or their lenders, there is a transfer from taxpayers in general to any indebted homeowners who still have some equity, or to any lenders facing losses. Even the reduction in lender losses becomes a future transfer to leveraged homeowners, as future home prices go up in response to cheaper lending spurred by the prospect of future bailouts.
Patient renter in OC
Participant“People like the OP, and borrowers in general, will not be bailed out.”
FairEconomist, I have to disagree with you here. When home prices are supported by actions that grant public money or valuable guarantees to borrowers or their lenders, there is a transfer from taxpayers in general to any indebted homeowners who still have some equity, or to any lenders facing losses. Even the reduction in lender losses becomes a future transfer to leveraged homeowners, as future home prices go up in response to cheaper lending spurred by the prospect of future bailouts.
Patient renter in OC
December 3, 2007 at 8:21 PM in reply to: I don’t think anyone expected this interest freeze bail out. #108438ParticipantSpot-on, KIBU. But hopefully 5 years from now prices will be down a little, and we responsible people can buy a decent place to live in. If prices are down a lot and start turning up, I will buy lots more properties using 100% non-recourse loans, selling one or two a year, the ones with the biggest gains. When the next downturn hits, I’ll have a few million in gains safely in the bank, and will default on the properties that are upside-down.
Patient renter in OC
December 3, 2007 at 8:21 PM in reply to: I don’t think anyone expected this interest freeze bail out. #108542ParticipantSpot-on, KIBU. But hopefully 5 years from now prices will be down a little, and we responsible people can buy a decent place to live in. If prices are down a lot and start turning up, I will buy lots more properties using 100% non-recourse loans, selling one or two a year, the ones with the biggest gains. When the next downturn hits, I’ll have a few million in gains safely in the bank, and will default on the properties that are upside-down.
Patient renter in OC
December 3, 2007 at 8:21 PM in reply to: I don’t think anyone expected this interest freeze bail out. #108576ParticipantSpot-on, KIBU. But hopefully 5 years from now prices will be down a little, and we responsible people can buy a decent place to live in. If prices are down a lot and start turning up, I will buy lots more properties using 100% non-recourse loans, selling one or two a year, the ones with the biggest gains. When the next downturn hits, I’ll have a few million in gains safely in the bank, and will default on the properties that are upside-down.
Patient renter in OC
December 3, 2007 at 8:21 PM in reply to: I don’t think anyone expected this interest freeze bail out. #108579ParticipantSpot-on, KIBU. But hopefully 5 years from now prices will be down a little, and we responsible people can buy a decent place to live in. If prices are down a lot and start turning up, I will buy lots more properties using 100% non-recourse loans, selling one or two a year, the ones with the biggest gains. When the next downturn hits, I’ll have a few million in gains safely in the bank, and will default on the properties that are upside-down.
Patient renter in OC
December 3, 2007 at 8:21 PM in reply to: I don’t think anyone expected this interest freeze bail out. #108595ParticipantSpot-on, KIBU. But hopefully 5 years from now prices will be down a little, and we responsible people can buy a decent place to live in. If prices are down a lot and start turning up, I will buy lots more properties using 100% non-recourse loans, selling one or two a year, the ones with the biggest gains. When the next downturn hits, I’ll have a few million in gains safely in the bank, and will default on the properties that are upside-down.
Patient renter in OC
Participantnostradamus, if I am a homeowner and this bailout allows me to borrow at a lower rate, then I am definitely getting something of value. Furthermore, lowering borrowing rates for many homeowners can only help to support prices in general, and all homeowners will feel some benefit from that.
I disagree totally with bailouts, but this one definitely isn’t all about helping lenders. It will benefit many homeowners (= voters) too.
Patient renter in OC
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