And a couple of jet skis too…lol
I just started reading the thread and once arrived at that statement was appalled. I guess OP learned nothing from the last recession. Does he have a house ready to short sale in my vicinity? hit me up, I am sitting on the curb right now waiting for a bargain. Can’t feel sorry for people with such utter disregard for fiscal responsibility.
You maybe waiting around for a long time. Apparently this time around you don’t have to pay your debts.
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No, I can store it on my property.
Yup, unlikely you’ll find a screaming deal either. You’re not the only smart one trying to get a short sale. I was looking at picking one up as an investment property, but I was outbid and the house ended up going for retail prices despite the fact that it needed 100k-150k worth of work.
Thanks. This is what I am hoping to do. appreciate the response.
I hear you. Too much money in the system. Record increase in the money supply suggests we’re headed for some interesting times.
Houses are flying off the market here in the suburbs of Philadelphia, buyer backed out of a close to million dollar custom home so they put it up for sale at $985k and it sold within a week, unheard of normally. Shortage of houses in some areas too I guess.
I agree. Buying a point would be beyond foolish. Take that same payment you’d make on the boat and pay it towards the rouge. You will get back to breakeven in maybe a year or so. Maybe two. DO NOT BUY A BOAT! Boats, insurance gas, are very expensive. You could probably pay off the Rouge in two years if you diverted all that money to that loan instead of a freaking boat. Again, DON’T BUY A BOAT!
Agreed on your first point but bearing the cost of maintenance is a big IF, especially considering how all of that maintenance money could be used to pay down the Rogue
Are those Tundra payments effective, or do they require a $1,000+ broker fee to get there?
Also: some of the non-captive banks that do Tundra leases have pretty high MF, so there’s even more finance charges from rolling in all that neg.
Whoever is gifting the boat needs a reality check that the OP might struggle to comfortably afford the new truck and the maintenance. “Lower payments” aren’t really lower when comparing apples to oranges, as I mentioned above.
Being able to pay off the neg in cash is a pretty big box to check, among many, of whether one should actually get a new lease or not, IMO.
@max_g greed on all your points.
About the Tundra payments, I am not sure about the deals right now, @Jrouleau426 still has pretty good deals. Back in March, I negotiated (myself at a local dealer in NJ) a Tundra TRD Sport. $48k sticker. $285/mo for 12k/24 lease with $600 DAS including first month. So, I am at an $300-310/mo effective. Deals seem to be slightly worse now, but I am confident that you can still find something at $350/mo effective.
Philly market is insane. I’ve been dumping my properties in the city that doubled in value in just 3-5 years. I want nothing to do with the city so the timing is awesome for me. However I’m also looking for a new primary home for myself and that has been such a disaster that I stopped looking. Multiple offers over asking price and unless you offer cash no contingencies you can’t get anything. Didn’t realize so many people have 500k laying around🧐. Thanks mom and dad I guess
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I can’t do 350/mo anymore on 50k trucks. The discounts and residuals just aren’t there in this market. Closer to 400 all in
Damn. I’m glad I got in when I did then. I just bought a primary residence earlier this year, and it just appraised for $85k more than I bought it for. My agent thinks it’ll sell for $160k more than I bought it for. I did do some renovations tho.
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That is insane- tell your agent if he can get 75K more than the appraisal to accept the offer, make sure its a cash offer and move out.
Yeah the market is on fire atm and I’m not sure if covid is adding fuel or what, homes are going over asking price which is unheard of here in this area. In California it’s normal but not here. Absolutely the worst time to shop now, might cool off in the winter for a bit though.
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I think people are stuck working at home and realize they want more space and a pool for the “new normal”. I won’t be participating in any bidding wars. My 3br house is enough for now and can’t complain about a $900 mortgage either
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I am curious how European folks tow stuff with 20 yr old WW Golfs. While bigger is better, it seems we - Americans- may be overdoing it?
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Honestly, I’m sure that if there was a purchase contract on the house, it would appraise higher, the appraiser just slapped together something quick for the refinance because the bank told them it it had to appraise for at least $575k for my refi, and they put $625k on it. I looked at the appraisal, and if I wanted to, I could easily argue for another $50k based on comps. When I bought the house, it didn’t appraise either because it’s a newer 2 family in an area with predominantly single family and the 2 families that are nearby are in a worse neighborhood and built before 1940.
Not looking to sell though - inventory is really thin and everything around me is going for $100-250k more than it was 6 months ago.
To NYC. We have cheap rentals LOL
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