All Forum Posts by: Albert Hasson

Christian, I understand this is not civil servant welfare but If you are getting a taxpayer subsidized incentive in the form of discount housing then why should I as a taxpayer subsidize you if your goal is to leverage the money you saved to buy more real estate. Again, you can choose to participate or not in this program. If you want to revitalize neighborhoods by all means go for it but I don't think this incentive should be the leverage you use to achieve that.

The point of these programs is to get folks, who otherwise might have difficulty buying, into a home. It's not designed for real estate investors or those that aspire to be RE investors. For most participants, having to OO and not buy any other RE for three years is a small price to pay. Nothing unpatriotic about it, if you don't want to participate then don't participate.

Totally agree Bruce. That's the thing with all Doom and Gloomers, eventually the market (whatever commodity, take your pick) swings and they claim victory. Problem is if you listen to them you miss the prime wealth building phase of the market. Check out some of the posts on this site from 2009 related to the stock market, major doom and gloom and today we reached all time Dow highs.
Those who invested in any commodity in 2009 ignoring the doom and gloom crowd has been well rewarded.

Is it me or does it seem like there are a ton of new members/new investors joining BP?
Of course BP is an awesome site but I am wondering if this is a contrarian indicator on the health of the housing market.
I would be interested if Josh could chime in on the actual numbers.
I remember well the last bubble and should have sold when my secretary started flipping houses!
I am determined not to make the same mistake again even if I end up leaving money on the table.

You will likely need another appraisal and will have to wait weeks. However, I would talk to a local small bank and explain the situation. Small banks have a lot more flexibility. Maybe they will accept a re-certification report from the original appraiser.

Eric, I feel your pain. Getting a mortgage these days is a real chore. You say they are now denying you the loan? It sounds like this is a regular sale so why don't you seek another extension from the seller and find another bank. Maybe a local lender?
As far as assigning an explanation for the lenders behavior I seriously doubt It has anything to do with your employment, they are just not that sophisticated. Good luck.

Good luck finding an investor to front all acquisition costs for a 50/50 ownership split. Perhaps you meant sharing 50% of the profits and losses but with the investors name on the property title?

I invest in AZ and this quote seems really high. I am with Allstate and am happy with their prices and service.

Dawn, try Flagstar Bank, Provident Funding, or Grand Bank. I have dealt with all and know they will do up to 10 loans.

Agree with Kurt. In fact, stock market is near all time highs while real estate is no where near back to all time highs. Stock investors don't have much to complain about IMHO.