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/biz/ - Business & Finance

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15559648 No.15559648 [Reply] [Original]

I have 30k to put down on a house... what’s the most expensive property i could purchase and what would a mortgage payment for that look like?

>> No.15559656

>>15559648
Idk but an apartment seems smarter if possible

>> No.15559765

>>15559648
Realtor here in northern nevada. You can get a conventional loan for 300k with that downpayment. See if you can get the seller to pay your closing costs and minor repairs. Always get a home inspection done to protect your self. Inspections are one of the conditions you will list in the offer that must be met to close the deal.

>> No.15559860

>>15559656
Why pick an apartment over a house?
It's an interesting opinion. Would you consider explain us your reasoning friend?

>> No.15560011

>>15559648
more of that fucking slut?

>> No.15560317

>>15559765
basically you mean it's possible to get into real estate starting with 30k?
I'm from different field, never been looking into this, just asking if I got it correct

>> No.15560366

>>15559648
30k + paying a mortgwge ever year...

Why not 30k in stock and add to it every month?

>> No.15560466

>>15560366
Ideally rent would be > mortgage payment so I could own it for free and maybe even make a positive cash flow per month.

>> No.15560537

>>15560317
Look into FHA financing. Typically all it takes is a decent credit score. 3.5% downpayment + closing costs (which can be paid by the seller). The only downside I can think of is you can only get an FHA loan for properties that are between 1 to 5-units. Anything larger then five units will require a commercial loan (typically 25-30% down)

>> No.15560561
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15560561

Keep saving your money. The crash is coming and itll be deflationary. Don't take on debt.

>> No.15560573

>>15560561
I don’t want to take on debt but then I’ll never be able to afford my own property unless bitcoin moons and I would rather buy a property before bitcoin moons anyways.

>> No.15560583

>>15559765
300k is a huge loan.

>> No.15560586
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15560586

>>15559648
Good job OP

>> No.15560607

>>15559648
The hardest part is doing nothing when you feel you should be doing something. The housing market is shaky right now, and with a recession right around the corner, getting actually INVOLVED with real estate before that is a death sentence. Keep making money and biding your time. Robert Kiyasaki had 30 million dollars to buy real estate when the 2008 crash happened. Keep waiting, save as much as you can, and be ready to pounce when the opportunity comes.

>> No.15560660

>>15559860
More potential units

>> No.15560759

I bought my house several years ago for 140k in a great neighborhood centrally located in my city. I put 10k down and mortgage is like $893/month.

Don't know if that helps you with your math. Anyway, I rent it out now and charge $1200 a month