How to go about PURCHASING a house...

[Haps]

If possible, do keep the downpayment about half of your cash, cause you will need money every time you turn around in a new house. What IMB stated above is a tecnique I have used successfully several times including the house I live in now which is paid off this month. If the seller is asking a reasonable price, I offer the full price - at my terms. Many folks may have had low ball offers or no offers, and so a real offer - full price - with cash in hand - WOW - they won the lotto. THey will agree to anything you can make sound sensible, and will not worry about your income source. If you put fsbo into search, there is a website that will let you get to your state, some have a lot, some none, then go to local add papers. Want an interesting private property? Drive around the edges and waterways of a city, interesting lots and houses with privacy.
H

 

[Mr. Nevermind]

IM Boggled, good post. But the $10,000 thing with raising red flags is true but also not. It doesnt have to be $10,000, it can be $2000 and a red flag gets raised. I have friends at banks and know that any cash deposit can lead to a red flag. That $10, 000 thing is a good rule of thumb but dont think your safe with $5000. That can do it too









Nevermind

 

[animosity2k1]

Nevermind I'm also on the east coast. As far as my "friend" going in on it, this whole op was partially his idea, he's a "business" partner ;p

Secondly all this SAR shit someone listed and such, I've never heard of it, my bank account has had over 40k been pushed around through it since I was 16... Not sure but this last 6months I threw a hip hop concert w/ an MTV artist to help me deposit some money... I was dropping 7k cash deposits 2x a week till I had enough money to wire the artist in the account. Then after paying the record firm, I'd wire the radios there share etc... the people @ the bank think I'm some famous concert thrower here on the east coast and have sezied there questions... plus they all got tickets to the first concert ;o never once have I been questioned about my money

 

[BabyHughie]

Wow, here on the east cost 120K gets you a nice outhouse. A condo here goes for around 220K and a townhouse is around 260K. 40-70K wouldnt get me a thing here









Nevermind

thats what I was thinking man! A nice little 3 bedroom house in my hood will run your over 200k. Bottom line. I could find a 'fixer upper' for 120 to 150k probably.

The realestate market has just continued to balloon. I watched my parents house go from $120k (purchased brand new) to well over 300k in 10 years. Crazy.

 

[SaintVicious]

thats what I was thinking man! A nice little 3 bedroom house in my hood will run your over 200k. Bottom line. I could find a 'fixer upper' for 120 to 150k probably.

The realestate market has just continued to balloon. I watched my parents house go from $120k (purchased brand new) to well over 300k in 10 years. Crazy.

Its the same way down here in the South. I live in Texas and when I moved into this neighborhood 14 years ago we got this house for around 90k... now its worth well over 150k+. All the new people moving in are rich white people where all the people thats been here over 10 years arent.