[sdcellar]

oh, and to answer your other question, no, I don’t think BofA is a solid outfit, but I do believe that if davelj said he got a 4.25% loan (4.6% APR) from them, then he did.

That said, what I meant by solid is do you have experience with aimloan? Do you know that they routinely deliver on the rates they advertise?

Or was it the best rate you could find at the time on the always factual and consistently reputable interweb?

The data, sir, that I prefer to run with is what I put forth. Something like freddiemac’s averages for the last week. These seem at least representative of what one should conservatively use for penciling things out.

Could I, personally, get a better rate? I’m almost certain of it. Could you, probably. Others reading your “this isn’t advice,” maybe not.

Do me favor and don’t misguidedly throw the professor’s sage advice at me again.

[sdcellar]

AN, methinks I’ve struck a nerve. You say bring data and then you progress right into the $2200 rent thing, for which I brought at least something. Again, 900 bucks is a fact in my case and you say something about this place might be $3100 now listing for $2200? (really, I don’t get it)

Now if you want specific details of my personal situation, well I’m not really crazy about sharing that, but trust me that I rented the place for a year for $900 dollars less than the owner later asked and never got. Of course, they reduced it over nine months (got it to only $500 more than I was paying, but still no takers). I’d give you the percentages, but I’m pretty confident you could reverse engineer the actual figures. I also spent a lot of time watching markedt rents (being a renter) and can tell you I’ve seen a lot of languishing over market listings over the last 3 years (but saidly I can’t point you to them because craig at the list pulls them down after 2 weeks and I’m not following them right now)

The place I’m in now is *exactly* the same (well, technically, the guy was even more delusional), but he had done it in a different order. He’d listed for a long time at a much higher price for months and I said I’d pay x. I ended up paying x. And he did a two-year lease with me!

I’m not saying the place in your example has a market rent of $1,200 (at all), but I’m also not motivated enough to dig into it (by any stretch). You didn’t bring (solid data), so let’s not call the kettle black. You have no answer for that. That said, I have to agree with BGinRB that sustained rent of $2200 seems a stretch if properties have gotten this low in whatever sub-area this is. Again, I don’t know Eastlake any better than you seem to.

On the interest rate, I simply asked questions. Your interest rate is a (sort of) fact. I saw the 4.25 BofA post in the other thread too and found it notable. You’ll also notice that his APR (the total cost of the money) was a bit higher than that. These are the details you kind of gloss over. Data man, data.

Finally, as I stated, I wasn’t trying to pick apart this specific example, but rather what I perceive as to how your posts are now trending. I thought about giving the quarter million dollar example as well, but as you can see, my posts are already too damn long (and confusing). (at that, it’s still $12,500 which still swallows up the 8 kilobucks). That said, I also believe that the low end has less to fall, so I could be on the wrong end of the numbers here.

All of that said, let me leave you with one final anecdote that is relevant to your example. At the meetup, somebody asked me if they should buy a place in Eastlake becuase it’s so cheap down there. I said, do you like Eastlake? I got a puzzled look and they said not really. So I said, so your strategy is you’ll buy there and someday move/buy where you really want to live? Again, they looked puzzled and said yes. So I said, well you can do that, but understand that you’ll likely have to live there a long time before you have proceeds from that property that you can put it another property. Alternatively, you can rent it out down the road, but you’ll still be challenged with regard to a down for the place where you really want to live. I, of course, said it could turn out better than that, but the odds weren’t looking to be in their favor. The person responded indicating maybe it wasn’t such a great idea after all (but I still sensed puzzlement, which is certainly understandable).

So, what do you think of my advice?

[sdcellar]

AN, methinks I’ve struck a nerve. You say bring data and then you progress right into the $2200 rent thing, for which I brought at least something. Again, 900 bucks is a fact in my case and you say something about this place might be $3100 now listing for $2200? (really, I don’t get it)

Now if you want specific details of my personal situation, well I’m not really crazy about sharing that, but trust me that I rented the place for a year for $900 dollars less than the owner later asked and never got. Of course, they reduced it over nine months (got it to only $500 more than I was paying, but still no takers). I’d give you the percentages, but I’m pretty confident you could reverse engineer the actual figures. I also spent a lot of time watching markedt rents (being a renter) and can tell you I’ve seen a lot of languishing over market listings over the last 3 years (but saidly I can’t point you to them because craig at the list pulls them down after 2 weeks and I’m not following them right now)

The place I’m in now is *exactly* the same (well, technically, the guy was even more delusional), but he had done it in a different order. He’d listed for a long time at a much higher price for months and I said I’d pay x. I ended up paying x. And he did a two-year lease with me!

I’m not saying the place in your example has a market rent of $1,200 (at all), but I’m also not motivated enough to dig into it (by any stretch). You didn’t bring (solid data), so let’s not call the kettle black. You have no answer for that. That said, I have to agree with BGinRB that sustained rent of $2200 seems a stretch if properties have gotten this low in whatever sub-area this is. Again, I don’t know Eastlake any better than you seem to.

On the interest rate, I simply asked questions. Your interest rate is a (sort of) fact. I saw the 4.25 BofA post in the other thread too and found it notable. You’ll also notice that his APR (the total cost of the money) was a bit higher than that. These are the details you kind of gloss over. Data man, data.

Finally, as I stated, I wasn’t trying to pick apart this specific example, but rather what I perceive as to how your posts are now trending. I thought about giving the quarter million dollar example as well, but as you can see, my posts are already too damn long (and confusing). (at that, it’s still $12,500 which still swallows up the 8 kilobucks). That said, I also believe that the low end has less to fall, so I could be on the wrong end of the numbers here.

All of that said, let me leave you with one final anecdote that is relevant to your example. At the meetup, somebody asked me if they should buy a place in Eastlake becuase it’s so cheap down there. I said, do you like Eastlake? I got a puzzled look and they said not really. So I said, so your strategy is you’ll buy there and someday move/buy where you really want to live? Again, they looked puzzled and said yes. So I said, well you can do that, but understand that you’ll likely have to live there a long time before you have proceeds from that property that you can put it another property. Alternatively, you can rent it out down the road, but you’ll still be challenged with regard to a down for the place where you really want to live. I, of course, said it could turn out better than that, but the odds weren’t looking to be in their favor. The person responded indicating maybe it wasn’t such a great idea after all (but I still sensed puzzlement, which is certainly understandable).

So, what do you think of my advice?

[sdcellar]

AN, methinks I’ve struck a nerve. You say bring data and then you progress right into the $2200 rent thing, for which I brought at least something. Again, 900 bucks is a fact in my case and you say something about this place might be $3100 now listing for $2200? (really, I don’t get it)

Now if you want specific details of my personal situation, well I’m not really crazy about sharing that, but trust me that I rented the place for a year for $900 dollars less than the owner later asked and never got. Of course, they reduced it over nine months (got it to only $500 more than I was paying, but still no takers). I’d give you the percentages, but I’m pretty confident you could reverse engineer the actual figures. I also spent a lot of time watching markedt rents (being a renter) and can tell you I’ve seen a lot of languishing over market listings over the last 3 years (but saidly I can’t point you to them because craig at the list pulls them down after 2 weeks and I’m not following them right now)

The place I’m in now is *exactly* the same (well, technically, the guy was even more delusional), but he had done it in a different order. He’d listed for a long time at a much higher price for months and I said I’d pay x. I ended up paying x. And he did a two-year lease with me!

I’m not saying the place in your example has a market rent of $1,200 (at all), but I’m also not motivated enough to dig into it (by any stretch). You didn’t bring (solid data), so let’s not call the kettle black. You have no answer for that. That said, I have to agree with BGinRB that sustained rent of $2200 seems a stretch if properties have gotten this low in whatever sub-area this is. Again, I don’t know Eastlake any better than you seem to.

On the interest rate, I simply asked questions. Your interest rate is a (sort of) fact. I saw the 4.25 BofA post in the other thread too and found it notable. You’ll also notice that his APR (the total cost of the money) was a bit higher than that. These are the details you kind of gloss over. Data man, data.

Finally, as I stated, I wasn’t trying to pick apart this specific example, but rather what I perceive as to how your posts are now trending. I thought about giving the quarter million dollar example as well, but as you can see, my posts are already too damn long (and confusing). (at that, it’s still $12,500 which still swallows up the 8 kilobucks). That said, I also believe that the low end has less to fall, so I could be on the wrong end of the numbers here.

All of that said, let me leave you with one final anecdote that is relevant to your example. At the meetup, somebody asked me if they should buy a place in Eastlake becuase it’s so cheap down there. I said, do you like Eastlake? I got a puzzled look and they said not really. So I said, so your strategy is you’ll buy there and someday move/buy where you really want to live? Again, they looked puzzled and said yes. So I said, well you can do that, but understand that you’ll likely have to live there a long time before you have proceeds from that property that you can put it another property. Alternatively, you can rent it out down the road, but you’ll still be challenged with regard to a down for the place where you really want to live. I, of course, said it could turn out better than that, but the odds weren’t looking to be in their favor. The person responded indicating maybe it wasn’t such a great idea after all (but I still sensed puzzlement, which is certainly understandable).

So, what do you think of my advice?

[sdcellar]

AN, methinks I’ve struck a nerve. You say bring data and then you progress right into the $2200 rent thing, for which I brought at least something. Again, 900 bucks is a fact in my case and you say something about this place might be $3100 now listing for $2200? (really, I don’t get it)

Now if you want specific details of my personal situation, well I’m not really crazy about sharing that, but trust me that I rented the place for a year for $900 dollars less than the owner later asked and never got. Of course, they reduced it over nine months (got it to only $500 more than I was paying, but still no takers). I’d give you the percentages, but I’m pretty confident you could reverse engineer the actual figures. I also spent a lot of time watching markedt rents (being a renter) and can tell you I’ve seen a lot of languishing over market listings over the last 3 years (but saidly I can’t point you to them because craig at the list pulls them down after 2 weeks and I’m not following them right now)

The place I’m in now is *exactly* the same (well, technically, the guy was even more delusional), but he had done it in a different order. He’d listed for a long time at a much higher price for months and I said I’d pay x. I ended up paying x. And he did a two-year lease with me!

I’m not saying the place in your example has a market rent of $1,200 (at all), but I’m also not motivated enough to dig into it (by any stretch). You didn’t bring (solid data), so let’s not call the kettle black. You have no answer for that. That said, I have to agree with BGinRB that sustained rent of $2200 seems a stretch if properties have gotten this low in whatever sub-area this is. Again, I don’t know Eastlake any better than you seem to.

On the interest rate, I simply asked questions. Your interest rate is a (sort of) fact. I saw the 4.25 BofA post in the other thread too and found it notable. You’ll also notice that his APR (the total cost of the money) was a bit higher than that. These are the details you kind of gloss over. Data man, data.

Finally, as I stated, I wasn’t trying to pick apart this specific example, but rather what I perceive as to how your posts are now trending. I thought about giving the quarter million dollar example as well, but as you can see, my posts are already too damn long (and confusing). (at that, it’s still $12,500 which still swallows up the 8 kilobucks). That said, I also believe that the low end has less to fall, so I could be on the wrong end of the numbers here.

All of that said, let me leave you with one final anecdote that is relevant to your example. At the meetup, somebody asked me if they should buy a place in Eastlake becuase it’s so cheap down there. I said, do you like Eastlake? I got a puzzled look and they said not really. So I said, so your strategy is you’ll buy there and someday move/buy where you really want to live? Again, they looked puzzled and said yes. So I said, well you can do that, but understand that you’ll likely have to live there a long time before you have proceeds from that property that you can put it another property. Alternatively, you can rent it out down the road, but you’ll still be challenged with regard to a down for the place where you really want to live. I, of course, said it could turn out better than that, but the odds weren’t looking to be in their favor. The person responded indicating maybe it wasn’t such a great idea after all (but I still sensed puzzlement, which is certainly understandable).

So, what do you think of my advice?

[sdcellar]

AN, methinks I’ve struck a nerve. You say bring data and then you progress right into the $2200 rent thing, for which I brought at least something. Again, 900 bucks is a fact in my case and you say something about this place might be $3100 now listing for $2200? (really, I don’t get it)

Now if you want specific details of my personal situation, well I’m not really crazy about sharing that, but trust me that I rented the place for a year for $900 dollars less than the owner later asked and never got. Of course, they reduced it over nine months (got it to only $500 more than I was paying, but still no takers). I’d give you the percentages, but I’m pretty confident you could reverse engineer the actual figures. I also spent a lot of time watching markedt rents (being a renter) and can tell you I’ve seen a lot of languishing over market listings over the last 3 years (but saidly I can’t point you to them because craig at the list pulls them down after 2 weeks and I’m not following them right now)

The place I’m in now is *exactly* the same (well, technically, the guy was even more delusional), but he had done it in a different order. He’d listed for a long time at a much higher price for months and I said I’d pay x. I ended up paying x. And he did a two-year lease with me!

I’m not saying the place in your example has a market rent of $1,200 (at all), but I’m also not motivated enough to dig into it (by any stretch). You didn’t bring (solid data), so let’s not call the kettle black. You have no answer for that. That said, I have to agree with BGinRB that sustained rent of $2200 seems a stretch if properties have gotten this low in whatever sub-area this is. Again, I don’t know Eastlake any better than you seem to.

On the interest rate, I simply asked questions. Your interest rate is a (sort of) fact. I saw the 4.25 BofA post in the other thread too and found it notable. You’ll also notice that his APR (the total cost of the money) was a bit higher than that. These are the details you kind of gloss over. Data man, data.

Finally, as I stated, I wasn’t trying to pick apart this specific example, but rather what I perceive as to how your posts are now trending. I thought about giving the quarter million dollar example as well, but as you can see, my posts are already too damn long (and confusing). (at that, it’s still $12,500 which still swallows up the 8 kilobucks). That said, I also believe that the low end has less to fall, so I could be on the wrong end of the numbers here.

All of that said, let me leave you with one final anecdote that is relevant to your example. At the meetup, somebody asked me if they should buy a place in Eastlake becuase it’s so cheap down there. I said, do you like Eastlake? I got a puzzled look and they said not really. So I said, so your strategy is you’ll buy there and someday move/buy where you really want to live? Again, they looked puzzled and said yes. So I said, well you can do that, but understand that you’ll likely have to live there a long time before you have proceeds from that property that you can put it another property. Alternatively, you can rent it out down the road, but you’ll still be challenged with regard to a down for the place where you really want to live. I, of course, said it could turn out better than that, but the odds weren’t looking to be in their favor. The person responded indicating maybe it wasn’t such a great idea after all (but I still sensed puzzlement, which is certainly understandable).

So, what do you think of my advice?

[sdcellar]

Yes, AN, I should have clarified that I didn’t necessarily mean you were particularly guilty of number tweaking in this thread, but generally, I would say you have been. I post so infrequently now, I just chose to bring it up here.

I’d seen that esmith introduced the rent number, but you had no problem latching onto it since it supports your point even though, as you admit, you don’t really know the area.

Asking rents in craigslist are often not at market and you can see this with the listings that linger and just re-post after re-post. The last place I was in, the owner tried to rent it out for $900 more than we were paying–9 months later he gave up.

And, you are giving advice, whether you think you are or not. And what I notice (and it may just be me) is you keep popping your head up “when the numbers pencil in.”

Heck, you even introduced the notion of opportunity cost being the missed opportunity of not buying. Something along the lines of if you can get yourself to buying sooner, you’ll get to the point of owning free and clear that much sooner. “Live rent free, woohoo.” Yeah, please come back and post when you get there.

What you repeatedly conveniently gloss over is that when properties priced near a half million dollars depreciate 5%, one will have lost $25,000. That easily blows away the awesome savings of eight grand that the government is so happy to throw at the problem.

Save the big boy and girl card, you’re certainly not going to influence me, but there are many who could be led down a primrose path by some of what you’ve been putting forth–most likely not the frequent posters.

and, BTW, MM is decidely in the blue, at least with the link you provided. Okay, maybe it’s periwinkle. But that said, if _you_ didn’t think it was blue, then you can’t be guilty of what I accused you of.

Oh, and I found some curious stuff with just the most basic interweb research on aimloan. I’m curious, are they a solid outfit?

(and don’t sweat it, rates appear to be at least in the rough neighborhod you’ve put out there. bankrate says 5.15. Is that useful at all? I used to mostly look at freddiemac for the pulse. they say the national average right now is 4.98 with .7 points…)

[sdcellar]

Yes, AN, I should have clarified that I didn’t necessarily mean you were particularly guilty of number tweaking in this thread, but generally, I would say you have been. I post so infrequently now, I just chose to bring it up here.

I’d seen that esmith introduced the rent number, but you had no problem latching onto it since it supports your point even though, as you admit, you don’t really know the area.

Asking rents in craigslist are often not at market and you can see this with the listings that linger and just re-post after re-post. The last place I was in, the owner tried to rent it out for $900 more than we were paying–9 months later he gave up.

And, you are giving advice, whether you think you are or not. And what I notice (and it may just be me) is you keep popping your head up “when the numbers pencil in.”

Heck, you even introduced the notion of opportunity cost being the missed opportunity of not buying. Something along the lines of if you can get yourself to buying sooner, you’ll get to the point of owning free and clear that much sooner. “Live rent free, woohoo.” Yeah, please come back and post when you get there.

What you repeatedly conveniently gloss over is that when properties priced near a half million dollars depreciate 5%, one will have lost $25,000. That easily blows away the awesome savings of eight grand that the government is so happy to throw at the problem.

Save the big boy and girl card, you’re certainly not going to influence me, but there are many who could be led down a primrose path by some of what you’ve been putting forth–most likely not the frequent posters.

and, BTW, MM is decidely in the blue, at least with the link you provided. Okay, maybe it’s periwinkle. But that said, if _you_ didn’t think it was blue, then you can’t be guilty of what I accused you of.

Oh, and I found some curious stuff with just the most basic interweb research on aimloan. I’m curious, are they a solid outfit?

(and don’t sweat it, rates appear to be at least in the rough neighborhod you’ve put out there. bankrate says 5.15. Is that useful at all? I used to mostly look at freddiemac for the pulse. they say the national average right now is 4.98 with .7 points…)

[sdcellar]

Yes, AN, I should have clarified that I didn’t necessarily mean you were particularly guilty of number tweaking in this thread, but generally, I would say you have been. I post so infrequently now, I just chose to bring it up here.

I’d seen that esmith introduced the rent number, but you had no problem latching onto it since it supports your point even though, as you admit, you don’t really know the area.

Asking rents in craigslist are often not at market and you can see this with the listings that linger and just re-post after re-post. The last place I was in, the owner tried to rent it out for $900 more than we were paying–9 months later he gave up.

And, you are giving advice, whether you think you are or not. And what I notice (and it may just be me) is you keep popping your head up “when the numbers pencil in.”

Heck, you even introduced the notion of opportunity cost being the missed opportunity of not buying. Something along the lines of if you can get yourself to buying sooner, you’ll get to the point of owning free and clear that much sooner. “Live rent free, woohoo.” Yeah, please come back and post when you get there.

What you repeatedly conveniently gloss over is that when properties priced near a half million dollars depreciate 5%, one will have lost $25,000. That easily blows away the awesome savings of eight grand that the government is so happy to throw at the problem.

Save the big boy and girl card, you’re certainly not going to influence me, but there are many who could be led down a primrose path by some of what you’ve been putting forth–most likely not the frequent posters.

and, BTW, MM is decidely in the blue, at least with the link you provided. Okay, maybe it’s periwinkle. But that said, if _you_ didn’t think it was blue, then you can’t be guilty of what I accused you of.

Oh, and I found some curious stuff with just the most basic interweb research on aimloan. I’m curious, are they a solid outfit?

(and don’t sweat it, rates appear to be at least in the rough neighborhod you’ve put out there. bankrate says 5.15. Is that useful at all? I used to mostly look at freddiemac for the pulse. they say the national average right now is 4.98 with .7 points…)

[sdcellar]

Yes, AN, I should have clarified that I didn’t necessarily mean you were particularly guilty of number tweaking in this thread, but generally, I would say you have been. I post so infrequently now, I just chose to bring it up here.

I’d seen that esmith introduced the rent number, but you had no problem latching onto it since it supports your point even though, as you admit, you don’t really know the area.

Asking rents in craigslist are often not at market and you can see this with the listings that linger and just re-post after re-post. The last place I was in, the owner tried to rent it out for $900 more than we were paying–9 months later he gave up.

And, you are giving advice, whether you think you are or not. And what I notice (and it may just be me) is you keep popping your head up “when the numbers pencil in.”

Heck, you even introduced the notion of opportunity cost being the missed opportunity of not buying. Something along the lines of if you can get yourself to buying sooner, you’ll get to the point of owning free and clear that much sooner. “Live rent free, woohoo.” Yeah, please come back and post when you get there.

What you repeatedly conveniently gloss over is that when properties priced near a half million dollars depreciate 5%, one will have lost $25,000. That easily blows away the awesome savings of eight grand that the government is so happy to throw at the problem.

Save the big boy and girl card, you’re certainly not going to influence me, but there are many who could be led down a primrose path by some of what you’ve been putting forth–most likely not the frequent posters.

and, BTW, MM is decidely in the blue, at least with the link you provided. Okay, maybe it’s periwinkle. But that said, if _you_ didn’t think it was blue, then you can’t be guilty of what I accused you of.

Oh, and I found some curious stuff with just the most basic interweb research on aimloan. I’m curious, are they a solid outfit?

(and don’t sweat it, rates appear to be at least in the rough neighborhod you’ve put out there. bankrate says 5.15. Is that useful at all? I used to mostly look at freddiemac for the pulse. they say the national average right now is 4.98 with .7 points…)

[sdcellar]

Yes, AN, I should have clarified that I didn’t necessarily mean you were particularly guilty of number tweaking in this thread, but generally, I would say you have been. I post so infrequently now, I just chose to bring it up here.

I’d seen that esmith introduced the rent number, but you had no problem latching onto it since it supports your point even though, as you admit, you don’t really know the area.

Asking rents in craigslist are often not at market and you can see this with the listings that linger and just re-post after re-post. The last place I was in, the owner tried to rent it out for $900 more than we were paying–9 months later he gave up.

And, you are giving advice, whether you think you are or not. And what I notice (and it may just be me) is you keep popping your head up “when the numbers pencil in.”

Heck, you even introduced the notion of opportunity cost being the missed opportunity of not buying. Something along the lines of if you can get yourself to buying sooner, you’ll get to the point of owning free and clear that much sooner. “Live rent free, woohoo.” Yeah, please come back and post when you get there.

What you repeatedly conveniently gloss over is that when properties priced near a half million dollars depreciate 5%, one will have lost $25,000. That easily blows away the awesome savings of eight grand that the government is so happy to throw at the problem.

Save the big boy and girl card, you’re certainly not going to influence me, but there are many who could be led down a primrose path by some of what you’ve been putting forth–most likely not the frequent posters.

and, BTW, MM is decidely in the blue, at least with the link you provided. Okay, maybe it’s periwinkle. But that said, if _you_ didn’t think it was blue, then you can’t be guilty of what I accused you of.

Oh, and I found some curious stuff with just the most basic interweb research on aimloan. I’m curious, are they a solid outfit?

(and don’t sweat it, rates appear to be at least in the rough neighborhod you’ve put out there. bankrate says 5.15. Is that useful at all? I used to mostly look at freddiemac for the pulse. they say the national average right now is 4.98 with .7 points…)

[sdcellar]

Yep, I remember you saying it and thought you stood a good chance of being right, even though I personally just don’t get it (and therefore would never make such a bold prediction myself).

How the heck can credit be so cheap when there’s this supposed credit crunch? I’m told it has something to do with printing trillions of dollars or something…

[sdcellar]

Yep, I remember you saying it and thought you stood a good chance of being right, even though I personally just don’t get it (and therefore would never make such a bold prediction myself).

How the heck can credit be so cheap when there’s this supposed credit crunch? I’m told it has something to do with printing trillions of dollars or something…

[sdcellar]

Yep, I remember you saying it and thought you stood a good chance of being right, even though I personally just don’t get it (and therefore would never make such a bold prediction myself).

How the heck can credit be so cheap when there’s this supposed credit crunch? I’m told it has something to do with printing trillions of dollars or something…

[sdcellar]

Yep, I remember you saying it and thought you stood a good chance of being right, even though I personally just don’t get it (and therefore would never make such a bold prediction myself).

How the heck can credit be so cheap when there’s this supposed credit crunch? I’m told it has something to do with printing trillions of dollars or something…

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