I have a friend who owned a home three years ago but sold it because she went into foreclosure. Before she went into foreclosure she filed for bankruptcy protection. After selling the home, she paid off the bankruptcy and rented an apartment. She is now in sales making a lot of money. She has enough money to put 20% down on a 600,000 home. Will she have a problem getting a loan?
Posted in Homes For Sale
Tagged APARTMENT, bankruptcy, Foreclosure, friend, Home, loan, lot, money, mortgage, protection
We have a baby due in November and want to have a start to our someday Home.We do not have $10,000 but would get a loan for that amount if a good deal came our way.There are so many people out there that have land and just pay taxes on it.They forget they even have it with the exception of tax time.We could really use a good piece of land.We are not afraid of doing some work to the land to make it work out for us.So even a not so nice piece of land would work as long as it is buildable.We would love to have it big enough to have a small yard so are soon to be baby can have space to play, also for my wife to have places to plant flowers and for me to have a small garden.But as long as we could put a home on the land-That would be good enough.A buildable lot would be great-doesn’t have to be an acre or more.If you can help please let us know.Thank you for your time.I asked this question before and I got some negative answers-Please don’t respond if it isn’t nice. A good deal is out there
Posted in Land For Sale
Tagged Acre, anyone, Baby, bath, brunswick, deal, Home, lot, Maine, negative answers, piece, plant flowers, sale, tax time, time, Topsham, Woolwich, woolwich maine
A friend of my made me following offer: He has a lot in a good area, but does not have money to build on it. He offers me to finance the construction (legaly I will be purchasing the land and paying for the construction), he will take care of everything, I just need to put my name on the loan. I also sign an “Option to Buy” agreement, so he has an option to buy a house (at predetermened price) once construction is complete.
There is a risk, if Real Estate market will crash, I might end up with a house that it cost more to build then it can be sold for.
For the risk I will be paid $15K when house construction is complete (in 12 month).
State: Colorado
I need to finance $750K
A friend has already invested ~$200K into the house (land, architect, approval, demolishion of an old house, etc.)
Does this appear to be a sound deal? Where can I get more information and advise?
I’d say that risk is really small. Something really bad has to happen to affect the prices on real estate to drop below non-profit point. I also don’t do it because he is my friend. How hard is it to get me screwed on this?
Posted in Land For Sale
Tagged area, Construction, financing, friend, house, house for sale, lot, money, offer, option, sale
So, I think I found an apartment, but now I’m not so sure. I found a really cute place, nice roommate, great neighborhood, really cheap rent. It’s just that the apartment is really, really small.And I have a LOT of stuff. And the cost of putting things in storage is prohibitive (essentially negating the point of the cheap rent). And I’m so stressed about cramming all of my stuff in there that I’m awake with a stomachache at 12:30 in the morning. I like my stuff. I’m a nester. I like my 340 CDs, books, 56 pairs of shoes, and big comfy sofa.
But I already told the roomie that I’d move in. Should I bail on him? Move in anyway and hope for the best? Cram boxes with friends all over town? Help!
Extra detail: I can’t loft my bed, the ceiling is too low.
I like my stuff – I find familiar clutter really comforting. So I wrote the guy a really nice email saying that while I would love to live with him, I just can’t live in that apartment. I like space and I like my junk. (Especially since I’m in the middle of getting divorced, I want my security blanket of useless crap.)
Posted in Apartments For Rent
Tagged APARTMENT, cds books, comfy sofa, cost, cute place, lot, neighborhood, nester, pairs, Place, point, RENT, roommate, shoes, stomachache, storage, stuff
It is my dream to start a homestead after I finish high school and college. I don’t know much about nature, construction, or buying property, though, so I have a lot of questions.
1. Does the state of Michigan still permit people to build log cabins with no electricity or indoor plumbing?
2. Where can I find a very good farming book? I know how to plant things, but I do not know when to plant them, or what plants go best together. I also don’t know much about herbs.
3. What sort of things would I need to drill a well?
4. How much property might I need to build a cabin large enough to house one adult, who may possibly marry and have a child, yet still be old-fashioned? Plus an outhouse, a well, a vegetable and herb garden, a workshop/shed, some fruit trees, and maybe an old junker to get to town.
5. How much money would I need to build all of that?
6. How long would it take to do build all of that?
7. What sort of thing might I study in college to further aid my venture?