Investing 102

[JKnight]

Originally Posted by GregWeld

Right now you can buy the very same property down 30/40+% AND get a 30 year fixed rate loan under 4%!!!

Dude.... nobody wants to buy now.... they lined up to buy high and sell low. Talk about squandered opportunity....

We seized the opportunity in November to do just that. It was tough waiting until I was nearly 29 to buy my first house, but it's looking like our timing might have been very good. Our house closed at a 65% discount to the 2006 sale price. Loving it!!

[GregWeld]

Originally Posted by JKnight

We seized the opportunity in November to do just that. It was tough waiting until I was nearly 29 to buy my first house, but it's looking like our timing might have been very good. Our house closed at a 65% discount to the 2006 sale price. Loving it!!

AWESOME!!!

[bdahlg68]

I'm having fun owning (FUN). Cedar Fair, L.P. Just picked up some this year as the dividend has finally started bouncing back. Great yield with still potential for growth. They will be announcing FY2011 earnings in a few weeks will show if the high yield is going to stick around. Anyone else looking at this one as a "best of breed" ???

[Bucketlist2012]

Originally Posted by JKnight

We seized the opportunity in November to do just that. It was tough waiting until I was nearly 29 to buy my first house, but it's looking like our timing might have been very good. Our house closed at a 65% discount to the 2006 sale price. Loving it!!

Congrats....You scored twice....The home price, and the historic low rate.. tell your home loan rate to a real smart man in his 70's, and he will just smile at you, and know you killed it..


Excellent.

Mike V

[GregWeld]

Even though we know it's "fundamentally wrong" to help our kids too much -- we've been looking at real estate for them. Not sure what kind of "deal" we're going to come up with - and they have to lower their "standards" - 'cause a 4 million dollar house on the lake isn't what Mom and I have in mind... but now is the time to get them into a house/condo/townhome with these super low mortgage rates. We were on Zillow yesterday looking at a $350K town home - and if we put down 50% - their payment would be 5 or 600 a month less than their rent!

Obviously it's the down payment that would be the clincher... for anyone -- but this is a cross in the road that may not happen again in our lifetimes -- depressed house prices AND super cheap fixed rates.

[Bucketlist2012]

Originally Posted by GregWeld

Even though we know it's "fundamentally wrong" to help our kids too much -- we've been looking at real estate for them. Not sure what kind of "deal" we're going to come up with - and they have to lower their "standards" - 'cause a 4 million dollar house on the lake isn't what Mom and I have in mind... but now is the time to get them into a house/condo/townhome with these super low mortgage rates. We were on Zillow yesterday looking at a $350K town home - and if we put down 50% - their payment would be 5 or 600 a month less than their rent!

Obviously it's the down payment that would be the clincher... for anyone -- but this is a cross in the road that may not happen again in our lifetimes -- depressed house prices AND super cheap fixed rates.

I think you are doing the right thing...for sure with 350K vs 4 million, but to the point that you and all of us , are in a time where once you have a home, and then investments, additional property , at these prices and rates, are just a "two for", that cannot be passed up.

You can do the best you can raising them, and them giving them an advantage most will never have... If they do it right...Much happiness and security will come there way...If they do it wrong, and choose the wrong lifestyle, and dip into the equity...You did the best you could..

i put enough down to make my payment really affordable, and put the rest to work.

I used creative ways to get up this mountain..

[LS1-IROC]

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

[Bucketlist2012]

Originally Posted by LS1-IROC

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

Sorry for mentioning the housing thing

I did not want to open old wounds.

Think of it this way , brother..... You are actually one of the lucky one's..

I am in a court with 9 homes.... All of them but one foreclosed... the lady across the street bought new in 2000...Paid for 12 years and it is worth the same as 2000... But she is the survivor... All the others were foreclosed and now resold and the court has all new families and owners, except the sole survivor...Like you...

The rest of us are in various stages of value... I am lucky, plus what was 660,000 at the peak , I got for 267,000 in 2009. In 2000, they sold for 275,000. Actually I could sell it for 330,000 now, so i am Very lucky.

But the point is that you still have your investment at least even..you would have had to live somewhere, and 10 years from now, you will be in even better shape.. No, not as lucky as some, but still a survivor.

I just wanted you to see the other side , and be Happy you are a homeowner, and you are not 100K to 400K underwater..

Mike V.

[Sieg]

Originally Posted by LS1-IROC

Uhg...this housing market has been an ongoing thorn in my side. I'm glad so many smart people are taking advantage of it. I unfortunately bought my house in the peak market. I have been paying my mortgage for 11 years and I'd be lucky to sell it for what I owe right now. I'm jealous of all the guys younger than me that have bought homes in the last couple years. 10 years from now they will be miles ahead of where I'm at. It's depressing...

The good news is you're reading this thread and have the opportunity to capitalize on the insight, advice, and wisdom.

Everyone makes mistakes, how you handle the lesson is the key. Admitting you made one on a public forum is a huge step in my opinion.

Analyze your options and plot a course to prosperity!

Onward and upward!!

[LS1-IROC]

Thanks for the pep talk guys...

I know of a few people who were in the same situation as I am, and they cut bait and walked away from their mortgages. I wasn't about to do that because I view it as a commitment.