Tacos in St. Louis area

Turn it into an RV it's already registered as one too

 

sounds like a lot of work

 

Yeah

 

Bought my first house with 4k down, 5 years later put 50k down because of equity

 

Listen up boomer, the market is different now

$4k down gets you nowhere

 

Gets you a bus

 

Front me the cash and I'll show you how it's done

 

Hand Me your tacomas as collateral

 

Dude 4% is all you need for a down payment… the market doesn’t matter. You can psych yourself out of buying in any market lol. It’s not scary unless you have bad credit.

 

Fact. Between down payment and closing costs you can easily spend $5-10k

 

It's not even that. I've made probably 15 offers in the last 3 years with bank backed financing ready to go. It's the fact that if I bring five grand to the table at 150 grand house, some flipper shows up with 165 grand and I can't compete with that.

Then there's all the closing cost BS because apparently it cost 5 grand to have an inspector sign a couple of papers at the bank. Or more. It's basically them just saying here's an FU line on the bill that you have to pay otherwise we're not going to sign anything.

 

Closing costs include title, appraisal, bank fees earnest money, 1 year insurance paid, taxes (varies) and other miscellaneous items.

So its not 5k for an inspector

 

A $3-6 piece of paper, appraisal is done before it hits market, "bank fees" are those FU fees, 1 year insurance is fair, taxes are part of the loan, earnest money..... Maybe. Except that's such a vague area it's essentially carte blanche for realtors/mortgage gurus/banks to run over the uneducated with. And of course.... "Miscellaneous fees" is my favorite. Reminds me of $1200 coffee cups for the B-1 and B-2 crews lol

 

Everything would be listed out, I just put miscellaneous as there could be certain things that not worth mentioning.

Appraisal is done by the bank before closing, so they determine if the price is right or not. Bank isn't going to give you a loan for 180 if the house is appraised at 160. You pay taxes ahead and that's parts of closing

 

Understood.

Just saying

There's a lot of cash needed

 

If the bank is going to lend you an amount of money, look for houses under that amount to leave you room to bid over on, and you can also have your own appraisal done. Buying a house is really freakin easy, the paperwork is annoying as hell. And if I pushed closing costs onto the seller in this market, you can too lol

 

Lol You're not wrong. Trust me I've made offers at my limits I've made offers 30 grand below my limits. Kind of gave up after the kid arrived cuz I've got a lot of other stuff to deal with now.

 

All that profit gets sucked up by insurance and property taxes....

 

Insurance will give me $300 for my gutters. I need to replace my siding, soffits, eaves AND gutters. They said they don't cover 'normal' 'wear and tear'. So that's 12k out of pocket. RIP.
I got lucky and got my house before the economy tanked and rates went up. Then when interest rates tanked I refi'd to half what it was and shaved 8 years off. Still though, I'm gonna end up paying more than what I signed onto when I bought the house in interest + insurance + repair costs + property taxes. If I stay in it till it's paid off, I might get lucky and break even at best, but that's still if I'm able to sell it for what I think it's worth. Already had to replace the roof and insurance covered a good portion of it, but it took them 3 years to pay the roofers.

 

Yea, hey Will, how you doing bruh, yea man I need you to do me a favor