[TexasLine]

[quote=investor]Texasline. In re-reading my note, I owe you an apology…More to your point, when anyone “sees” the big picture, one is less likely to trust their retirement in a 401K and rather invest in investment real estate that cash flows.I’ve stopped putting my money into a simple IRA and I’m looking to get out of all debt…Not being able to get to your 401K money is just another reason not to use a 401 K as your retirement vehicle. Again, sorry if my comment was taken as a criticism.[/quote]

Absolutely no apology necessary. I was just trying to “re-direct” the conversation, and get more points of view.

I agree with your actions. I am also ending all my debt. Well I shouldn’t say “all”.

I’m going to keep that lovable car loan for a while, but the credit cards are fading…I have also taken a portion of my 401 out and am using it to pay away that debt and buying gold and silver as both a “hedge” and a safe place to put my “down-payment”. So far so good…of course I am implying that I’m prepared to go into greater debt with a mortgage….but I just can’t stand renting anymore!

4plexowner- also an interesting article.

[TexasLine]

In all due respect, the point of the article was not about most people not understanding the Fed Reserve or the fact that powerful people have grand schemes to control the financial system, although I believe it all.

But rather that new rules and laws may be coming our way very soon that inhibit, restrict, if not forbid access to retirement/401’s etc. accounts.

A “Hope” and “Change” in the system that might indicate that the Govt itself fears a run on the banks.

[TexasLine]

In all due respect, the point of the article was not about most people not understanding the Fed Reserve or the fact that powerful people have grand schemes to control the financial system, although I believe it all.

But rather that new rules and laws may be coming our way very soon that inhibit, restrict, if not forbid access to retirement/401’s etc. accounts.

A “Hope” and “Change” in the system that might indicate that the Govt itself fears a run on the banks.

[TexasLine]

In all due respect, the point of the article was not about most people not understanding the Fed Reserve or the fact that powerful people have grand schemes to control the financial system, although I believe it all.

But rather that new rules and laws may be coming our way very soon that inhibit, restrict, if not forbid access to retirement/401’s etc. accounts.

A “Hope” and “Change” in the system that might indicate that the Govt itself fears a run on the banks.

[TexasLine]

In all due respect, the point of the article was not about most people not understanding the Fed Reserve or the fact that powerful people have grand schemes to control the financial system, although I believe it all.

But rather that new rules and laws may be coming our way very soon that inhibit, restrict, if not forbid access to retirement/401’s etc. accounts.

A “Hope” and “Change” in the system that might indicate that the Govt itself fears a run on the banks.

[TexasLine]

In all due respect, the point of the article was not about most people not understanding the Fed Reserve or the fact that powerful people have grand schemes to control the financial system, although I believe it all.

But rather that new rules and laws may be coming our way very soon that inhibit, restrict, if not forbid access to retirement/401’s etc. accounts.

A “Hope” and “Change” in the system that might indicate that the Govt itself fears a run on the banks.

[TexasLine]

Obviously….common sense says, that the world is changing. And America is a teetering egg; could go this way-could go that way. No one really knows.

But IMO – even the ant knows winter is coming and prepares for it.

That’s my modo for the last year…and likely will continue to be so.

[TexasLine]

Obviously….common sense says, that the world is changing. And America is a teetering egg; could go this way-could go that way. No one really knows.

But IMO – even the ant knows winter is coming and prepares for it.

That’s my modo for the last year…and likely will continue to be so.

[TexasLine]

Obviously….common sense says, that the world is changing. And America is a teetering egg; could go this way-could go that way. No one really knows.

But IMO – even the ant knows winter is coming and prepares for it.

That’s my modo for the last year…and likely will continue to be so.

[TexasLine]

Obviously….common sense says, that the world is changing. And America is a teetering egg; could go this way-could go that way. No one really knows.

But IMO – even the ant knows winter is coming and prepares for it.

That’s my modo for the last year…and likely will continue to be so.

[TexasLine]

Obviously….common sense says, that the world is changing. And America is a teetering egg; could go this way-could go that way. No one really knows.

But IMO – even the ant knows winter is coming and prepares for it.

That’s my modo for the last year…and likely will continue to be so.

[TexasLine]

[quote=sdrealtor]Unless you plan on buying a high-end home (think auction price above 750K minimum) I personally dont beleive this is a viable strategy for 99% of the people. Even above that I dont think its viable for 90% percent. Auctions get cancelled over and over again. The waters are full of sharks with more cash, experience and information than the layperson. The pitfalls are potentially huge.

The professional investors go everyday and buy the best deals. They dont go to buy a specific home. The average joe looking to buy a specific home faces enormous obstacles to success. The only buyer I see this as a viable strategy for is someone willing to spend about $1M or more for a house that used to be $2M+. A $2M peak priced house is going to be a great house anyway you cut it and if you can get one for 50% off you may not be so particular regarding you own preferences.

I’m not saying its impossible but rather extraordinarily unlikely to be truly successful for the average homebuyer.[/quote]

Got it. Understood. Good, good info. Makes sense. Sorry to booter1 for the highjack. I think the original question was :

Submitted by booter1 on January 13, 2010 – 6:08am

“With more and more of the high-end homes ultimately making their ways to the courthouse steps (after numerous delays/attempts at loan mods,etc)we have been considering purchasing a higher-end home when it hits the courthouse steps as a potential way to get a deal.

It seems like there is less interest from “flippers/renovators” at the high end for homes in good condition.

If one purchases a home in this way (all cash) and then seeks financing later on- what are the risks/implications?

-Is it a “recourse” loan because it is post-purchase? HLS?-”

[TexasLine]

[quote=sdrealtor]Unless you plan on buying a high-end home (think auction price above 750K minimum) I personally dont beleive this is a viable strategy for 99% of the people. Even above that I dont think its viable for 90% percent. Auctions get cancelled over and over again. The waters are full of sharks with more cash, experience and information than the layperson. The pitfalls are potentially huge.

The professional investors go everyday and buy the best deals. They dont go to buy a specific home. The average joe looking to buy a specific home faces enormous obstacles to success. The only buyer I see this as a viable strategy for is someone willing to spend about $1M or more for a house that used to be $2M+. A $2M peak priced house is going to be a great house anyway you cut it and if you can get one for 50% off you may not be so particular regarding you own preferences.

I’m not saying its impossible but rather extraordinarily unlikely to be truly successful for the average homebuyer.[/quote]

Got it. Understood. Good, good info. Makes sense. Sorry to booter1 for the highjack. I think the original question was :

Submitted by booter1 on January 13, 2010 – 6:08am

“With more and more of the high-end homes ultimately making their ways to the courthouse steps (after numerous delays/attempts at loan mods,etc)we have been considering purchasing a higher-end home when it hits the courthouse steps as a potential way to get a deal.

It seems like there is less interest from “flippers/renovators” at the high end for homes in good condition.

If one purchases a home in this way (all cash) and then seeks financing later on- what are the risks/implications?

-Is it a “recourse” loan because it is post-purchase? HLS?-”

[TexasLine]

[quote=sdrealtor]Unless you plan on buying a high-end home (think auction price above 750K minimum) I personally dont beleive this is a viable strategy for 99% of the people. Even above that I dont think its viable for 90% percent. Auctions get cancelled over and over again. The waters are full of sharks with more cash, experience and information than the layperson. The pitfalls are potentially huge.

The professional investors go everyday and buy the best deals. They dont go to buy a specific home. The average joe looking to buy a specific home faces enormous obstacles to success. The only buyer I see this as a viable strategy for is someone willing to spend about $1M or more for a house that used to be $2M+. A $2M peak priced house is going to be a great house anyway you cut it and if you can get one for 50% off you may not be so particular regarding you own preferences.

I’m not saying its impossible but rather extraordinarily unlikely to be truly successful for the average homebuyer.[/quote]

Got it. Understood. Good, good info. Makes sense. Sorry to booter1 for the highjack. I think the original question was :

Submitted by booter1 on January 13, 2010 – 6:08am

“With more and more of the high-end homes ultimately making their ways to the courthouse steps (after numerous delays/attempts at loan mods,etc)we have been considering purchasing a higher-end home when it hits the courthouse steps as a potential way to get a deal.

It seems like there is less interest from “flippers/renovators” at the high end for homes in good condition.

If one purchases a home in this way (all cash) and then seeks financing later on- what are the risks/implications?

-Is it a “recourse” loan because it is post-purchase? HLS?-”

[TexasLine]

[quote=sdrealtor]Unless you plan on buying a high-end home (think auction price above 750K minimum) I personally dont beleive this is a viable strategy for 99% of the people. Even above that I dont think its viable for 90% percent. Auctions get cancelled over and over again. The waters are full of sharks with more cash, experience and information than the layperson. The pitfalls are potentially huge.

The professional investors go everyday and buy the best deals. They dont go to buy a specific home. The average joe looking to buy a specific home faces enormous obstacles to success. The only buyer I see this as a viable strategy for is someone willing to spend about $1M or more for a house that used to be $2M+. A $2M peak priced house is going to be a great house anyway you cut it and if you can get one for 50% off you may not be so particular regarding you own preferences.

I’m not saying its impossible but rather extraordinarily unlikely to be truly successful for the average homebuyer.[/quote]

Got it. Understood. Good, good info. Makes sense. Sorry to booter1 for the highjack. I think the original question was :

Submitted by booter1 on January 13, 2010 – 6:08am

“With more and more of the high-end homes ultimately making their ways to the courthouse steps (after numerous delays/attempts at loan mods,etc)we have been considering purchasing a higher-end home when it hits the courthouse steps as a potential way to get a deal.

It seems like there is less interest from “flippers/renovators” at the high end for homes in good condition.

If one purchases a home in this way (all cash) and then seeks financing later on- what are the risks/implications?

-Is it a “recourse” loan because it is post-purchase? HLS?-”

[Author]

Posts