All Forum Posts by: Ted Harris

purchase: $100k
closing costs(x2): $3k
commissions to resell: $7k
loan? ... $3k
holding costs (taxes, utilities, clean-up, ins, inspections, mtg pymnts, etc): $3k
total (best case) = $116k

resell at FULL price (if lucky) = $120

profit = $4k (if everything goes well)

pretty thin margin ... probably lucky to break even but then again, maybe you can resell right away for full list price ....

:blush:

Another article warning us of an inventory surge - this one's titled, 'Shadow Inventory Causes Concern for 2010 Housing Market' .....

http://www.dsnews.com/articles/shadow-inventory-causes-concern-for-2010-housing-market-2010-01-11

We've seen this warning before but is 2010 really the year we see the 'shadow' inventory? I tend to agree with Will, it'll happen if it's in the bank's best financial interest. Whether it'll happen 2010 remains to be seen (no pun intended). :lol:

Welcome Jose! Bigger Pockets provides a wealth of information for someone like you looking to retire early using real estate as their vehicle to do so ....

Unbelievable game! Bet (donation) has been happily paid off. Congrats to your Cards Nick!

Sounds good Nick, we're on ... go Packers!

Nick -

How about you take the Cards and I'll take the Packers ... I know you said no money but we could make it for a good mutual cause .... loser donates $25 to BP?

Ted

Welcome Jerry! And yes, you are correct .... Jon offers very sage, detailed advice chaulked with fantastic information for investors at all levels on a number of different real estate questions. And it's all FREE - that's the beauty of BP! :idea: :D

Go Texas!! :mrgreen:

Non-owner occ loans typically require 20%+ down. With tightened lending guidelines (especially for investment properties), it'll be difficult to qualify for an investor loan with 10% down and purchasing another property at the same time. Owner financing or private money may be the way to go.

'BCS Championship' game coming up - both teams are undefeated! Who do you like in the big game. Colt McCoy and the Texas Long Horns or Heisman Trophy winner, Mark Ingram, and the Alabama Crimson Tide? Vegas has Alabama as a 4 pt favorite. I'm predicting a Texas victory .... 24-17! :cool: