For the Rookies

BakerMayfield2018

Fight the power.
back porch
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kitchen
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whoops..this was one i photoshopped to see if I should get shutters
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Congrats brother. Your livin the dream!!! Are there 2 driveways ???one in front , and one in back ?? Cool , god bless you And keep it up , make some improvements , and sell it for a profit down the road!!!!
 

Savvy412

Well-Known Member
Congrats brother. Your livin the dream!!! Are there 2 driveways ???one in front , and one in back ?? Cool , god bless you And keep it up , make some improvements , and sell it for a profit down the road!!!!
no just 1 drivway. And ya, some OT is going to be needed. Laundry list of things we want to fix or update
 

1989

Well-Known Member
Last summer I was looking at houses with a dock. But sticker shock scared me away. Asking prices were 650-750k. 2-3 years ago they were going for around 500k.
 

brownmonster

Man of Great Wisdom
Bought my house in '93 at 8.65 for 30 years. Refinanced same year at 15 years at 6.8. Another 15 years in 2003 At 4.75. Another 5 year in 2012 at 4.99. Financed a few improvements and other things along the way. 12k to go.
 

oldngray

nowhere special
Bought my house in '93 at 8.65 for 30 years. Refinanced same year at 15 years at 6.8. Another 15 years in 2003 At 4.75. Another 5 year in 2012 at 4.99. Financed a few improvements and other things along the way. 12k to go.

You did things right looks like. Usually need about 2 points less to be worth refinancing.
 

Faceplanted

Well-Known Member
I highly recommend you attempt to pay 2-3 times your principal. Don't play the fix it up and sell it game for profit... Because when your house goes up in price the others do and you don't get ahead

Like i said pay 2-3 times the principal

Pay it off in 10 ish years

Don't sell no matter what

Once paid off, you can rent it for additional income if you want a bigger house, or just enjoy it without a mortgage
 

oldngray

nowhere special
You don't have to. Try an FHA First Time Buyer Loan. IF you can afford it.

FHA is to help people who can't afford a larger down payment. If you can afford a larger down payment a conventional loan may be a better option. That 20% down means he could avoid the private mortgage insurance (which benefits the seller, not the buyer).
 
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