Is 15k enough of a downpayment for a first time buyer? - GoFuckYourself.com

sonofsam · 08-31-2007, 02:46 PM

is real estate really the best investment option?

p.s. don't suggest launching a paysite/affiliate program

ridikuloz · 08-31-2007, 02:48 PM

$15k in new york will get a laugh at your face.

zEn84 · 08-31-2007, 02:48 PM

Well seeing you are from Vancouver, with our prices right now, 15 wouldn't be enough. Yes Real Estate is a GREAT investment. Tough to jump in right now, I would hold off abit longer I think..

crockett · 08-31-2007, 02:48 PM

Depends on the price of the house. Used to be 20% down, was pretty standard, now days, you can get away with 5%.

aico · 08-31-2007, 02:49 PM

Short answer: no
Long answer : fuck no

baycouples · 08-31-2007, 02:49 PM

I just bought a rental property and it's tougher than ever to get a loan no matter how good your credit is and how much money you make. If you put $15K down - you'll still probably end up with like $5K in closing costs. It's insane right now.

sonofsam · 08-31-2007, 02:49 PM

what about buying into an apartment that won't be finished building for another 2 years?

that way you don't have to make any payments till the building is finished, and it'll appreciate a shitload by then... right?

StuartD · 08-31-2007, 02:56 PM

Funny, I had put $45k down on my house... you are thinking $15k.
Yup, you're definitely the one to judge me

xNetworx · 08-31-2007, 03:04 PM

Depends on what type of loan you can get. 15k for a 30 year won't get you much. On a 3 year arm loan (if you can find one), 15k could get you something better but its risky.

minusonebit · 08-31-2007, 03:07 PM

I would NOT buy real estate right now. You'd end up overpaying. Wait 3 to 6 months, maybe less, and snap up the bargains. The housing industry has been propped up with bullshit for so long that it was like Enron, eventually all the moisture was cooked out of the books and they caught on fire.

BradM · 08-31-2007, 03:12 PM

Quote:

Originally Posted by minusonebit

I would NOT buy real estate right now. You'd end up overpaying. Wait 3 to 6 months, maybe less, and snap up the bargains. The housing industry has been propped up with bullshit for so long that it was like Enron, eventually all the moisture was cooked out of the books and they caught on fire.

Bang on. The market is so fucked right now. Lenders won't talk to you if you have 15k in vancouver. Come back with 50.

flashfire · 08-31-2007, 03:13 PM

the real estate market is still strong in canada though....especially in calgary and vancouver

StuartD · 08-31-2007, 03:14 PM

Quote:

Originally Posted by BradM

Bang on. The market is so fucked right now. Lenders won't talk to you if you have 15k in vancouver. Come back with 50.

Especially with the 2010 Olympics getting closer and closer.

tony286 · 08-31-2007, 03:17 PM

I was reading in the wsj, a doc with a 800 credit score put 20 percent down on a 700k house and the bank pulled put at the last minute.

sonofsam · 08-31-2007, 03:20 PM

Quote:

Originally Posted by StuartD

Funny, I had put $45k down on my house... you are thinking $15k.
Yup, you're definitely the one to judge me

Funny.. i would have had 30-35k if i didn't fuck up in adult... but that's okay, i'm back on my feet and earning again.... i actually have a bit more then 15 to invest... but i have left money aside for a cloudy day.. enough to cover my rent/car payments/bike payments etc for some months

how old are you again bragging about 45k? get a life.. that aint shit.. i'll pass your worth within a year or two.. you can take that to the bank, idiot

StuartD · 08-31-2007, 03:22 PM

Quote:

Originally Posted by sonofsam

Funny.. i would have had 30-35k if i didn't fuck up in adult... but that's okay, i'm back on my feet and earning again.... i actually have a bit more then 15 to invest... but i have left money aside for a cloudy day.. enough to cover my rent/car payments/bike payments etc for some months

how old are you again bragging about 45k? get a life.. that aint shit.. i'll pass your worth within a year or two.. you can take that to the bank, idiot

You're seriously still using your age as an excuse? How many years can you keep that up?

sonofsam · 08-31-2007, 03:22 PM

Quote:

Originally Posted by BradM

Bang on. The market is so fucked right now. Lenders won't talk to you if you have 15k in vancouver. Come back with 50.

are you sure? even a first time buyer?

sonofsam · 08-31-2007, 03:24 PM

Quote:

Originally Posted by StuartD

You're seriously still using your age as an excuse? How many years can you keep that up?

What i am saying, is that you are talking shit about me.. even though i am probably doing 300x better then what you were doing at my age..

and that you should shut the fuck up, because soon a "21 year old punk kid" will have more shit to show for himself then your 40+ year old ass with your walrus wife and shitty house.. get it?

Violetta · 08-31-2007, 03:25 PM

I invested in an apartement 1 year ago. Was the best investment I have ever made. But I dont know anything about the canadian market. Anyway, houses and apartments are always a good investment in the long run if you ask me

StuartD · 08-31-2007, 03:33 PM

Quote:

Originally Posted by sonofsam

What i am saying, is that you are talking shit about me.. even though i am probably doing 300x better then what you were doing at my age..

and that you should shut the fuck up, because soon a "21 year old punk kid" will have more shit to show for himself then your 40+ year old ass with your walrus wife and shitty house.. get it?

Wrong.
You returned to this board taking shots at my wife right out of the gate. I didn't even know you were back. Your very first comment was at her... not even at me.

Therefore, you are "talking shit about me" even though you "probably" don't know jack about what I was doing at your age... in fact, you don't even know how old I am! 40+?? Not even close.

My "shitty house" was acquired with 3 times the down you are thinking of going with. Get it?

Grow up. THEN consider buying real estate. Until then, you'll get the same results as your affiliate program.

sonofsam · 08-31-2007, 03:34 PM

okay thanks for your concern, you and your culdesac on your head can see your way out of the thread... bye

StuartD · 08-31-2007, 03:38 PM

Quote:

Originally Posted by sonofsam

okay thanks for your concern, you and your culdesac on your head can see your way out of the thread... bye

I know you're not an adult webmaster and really shouldn't even be here at all... but please do stick around and keep posting.
I look forward to hearing about all the new stuff that you fail at.

sonofsam · 08-31-2007, 03:39 PM

Quote:

Originally Posted by StuartD

I know you're not an adult webmaster and really shouldn't even be here at all... but please do stick around and keep posting.
I look forward to hearing about all the new stuff that you fail at.

Yeah.. maybe i can find a lucrative possition like you being a rep...

StuartD · 08-31-2007, 03:40 PM

Quote:

Originally Posted by sonofsam

Yeah.. maybe i can find a lucrative possition like you being a rep...

Maybe, I wouldn't know. I've never been a rep in my life.

sonofsam · 08-31-2007, 03:42 PM

Shitty.. so you try this hard to be a player, and i don't even know what it is exactly that you do...

you've done a great job..

you seem to know every detail about my life and business dealings.. so maybe i did something right :thumsup

either i did something right, or you have a thing for younger guys

either way, you can go get fucked now

StuartD · 08-31-2007, 03:47 PM

Quote:

Originally Posted by sonofsam

Shitty.. so you try this hard to be a player, and i don't even know what it is exactly that you do...

you've done a great job..

you seem to know every detail about my life and business dealings.. so maybe i did something right :thumsup

either i did something right, or you have a thing for younger guys

either way, you can go get fucked now

How am I trying to be a player? You don't even know who the real players are, so your statement really proves nothing anyhow.

And I don't know every detail... unlike you, I go by the details you share here. You, on the other hand, go by assumptions and pulling BS out of your ass. You'd rather just make up things like "baddog's trailer" and "pics of my house" that you've never seen.

Oh, and judging by the things I do know about you... you've never done anything right.
Bought any new content lately?

minniesoporno · 08-31-2007, 04:06 PM

well in canada it is, with the first time buyer plan.

Snake Doctor · 08-31-2007, 04:07 PM

Sure, get a subprime mortgage that you can't afford, then the president will use my money to bail you out so his hedge fund buddies don't go bankrupt.

PantiesDropped · 08-31-2007, 04:10 PM

Yeah.. here in Cali house you need at least 10% of the loan as a down payments

sonofsam · 08-31-2007, 04:11 PM

Quote:

Originally Posted by Lenny2

Sure, get a subprime mortgage that you can't afford, then the president will use my money to bail you out so his hedge fund buddies don't go bankrupt.

I don't live in the states

Star 69 · 08-31-2007, 04:48 PM

Such amount is not enough for a downpayment in Kiev.

MikesTraffic · 08-31-2007, 04:49 PM

Quote:

Originally Posted by sonofsam

Shitty.. so you try this hard to be a player, and i don't even know what it is exactly that you do...

you've done a great job..

you seem to know every detail about my life and business dealings.. so maybe i did something right :thumsup

either i did something right, or you have a thing for younger guys

either way, you can go get fucked now

not trying to brag or anything, but I'm 21 and house shopping. I'll be putting about 50% down......so age doesn't mean a thing playas. Just work harder!

Star 69 · 08-31-2007, 04:50 PM

Such amount is not enough for a downpayment in Kiev.

baddog · 08-31-2007, 04:53 PM

Should be a pretty nice trailer. Now he just needs to find a place to park it.

candyflip · 08-31-2007, 04:55 PM

Quote:

Originally Posted by ridikuloz

$15k in new york will get a laugh at your face.

Maybe in NYC or any place surrounding it by about 60 miles. There are plenty of places in NY that $15k could buy you a house.

fris · 08-31-2007, 04:56 PM

buy a condo, good investment, down payment is less. i only had to put 5000$ down, and i charge 1500$ a month rent + condo fees.

baddog · 08-31-2007, 04:56 PM

Quote:

Originally Posted by candyflip

Maybe in NYC or any place surrounding it by about 60 miles. There are plenty of places in NY that $15k could buy you a house.

really? examples with links?

Juicy D. Links · 08-31-2007, 05:02 PM

Quote:

Originally Posted by baddog

really? examples with links?

i think like places in the middle of the state where they have cows and farms

JasonSmokes · 08-31-2007, 05:05 PM

15k on a hundred thousand dollar property maybe.

Forest · 08-31-2007, 05:12 PM

Quote:

Originally Posted by crockett

Depends on the price of the house. Used to be 20% down, was pretty standard, now days, you can get away with 5%.

huh?

show me a bank that will finance u with 5% down in today mortgage climate unless they are financing you for other properties

15% or more is closer to the mark especially with first time buyers

BlueDesignStudios · 08-31-2007, 05:15 PM

depends on where you live entirely

sonofsam · 08-31-2007, 05:23 PM

Quote:

Originally Posted by baddog

Should be a pretty nice trailer. Now he just needs to find a place to park it.

Coming from someone who has woodgrain walls? Look whos talking

AllStar · 08-31-2007, 06:19 PM

what were your sites? how come they didn't work?
15k is plenty, however the market in Van is gonna tank. look at its history.

When the US hiccups, canada pukes...

Snake Doctor · 08-31-2007, 07:36 PM

Quote:

Originally Posted by Forest

huh?

show me a bank that will finance u with 5% down in today mortgage climate unless they are financing you for other properties

15% or more is closer to the mark especially with first time buyers

There are plenty who will do 5% down, if you have the credit score and income verification to go along with it.

Having a 1st and 2nd mortgage on a new purchase isn't the same as a subprime loan.

woj · 08-31-2007, 08:07 PM

now a days with 15k I don't think you will be able to get anything decent, except maybe some condo in some ghetto part of town...

PSSuperstars · 08-31-2007, 08:23 PM

I just financed 240,000 with zero down here in Houston TX... 30 year mortgage.. 7.1% rate... 2700 sq ft single story.... 23 year old female, self employed.. credit score 700....

had zero problems with closing or anything..

I think it depends on the area..

I'm going to be financing 50k more to put in a pool in the next few months too.

DaddyHalbucks · 08-31-2007, 08:25 PM

Real estate is a rich man's game.

If you are under capitalized, you will get stomped.

emichele20 · 08-31-2007, 10:52 PM

Quote:

Originally Posted by JasonSmokes

15k on a hundred thousand dollar property maybe.

correcto... you need atleast 10% of the purchasing price. Otherwise you will end up with a high mortgage. We just brought our second house and put down 10% but had closing costs of about 8000k. We are in Philly and the property around here is pretty reasonable until you hit the historic areas and near the universities(anywhere from about 400k to 3 mill).

sweetcuties · 08-31-2007, 10:53 PM

Depends on where you live and the total cost of your house. Not sure if you know about the MLS (Multiple Listing Service) ... try to get access to it and look at HUD and/or Bank Reo's

collegeboobies · 08-31-2007, 11:31 PM

hmm i put $0 down on my house 3 years ago. just paid closing cost.

08-31-2007, 02:46 PM	#1
sonofsam Too lazy to set a custom title Join Date: Dec 2004 Location: Vancouver Posts: 18,638	Is 15k enough of a downpayment for a first time buyer? is real estate really the best investment option? p.s. don't suggest launching a paysite/affiliate program __________________ I like turtles. Last edited by sonofsam; 08-31-2007 at 02:47 PM..

08-31-2007, 02:48 PM	#2
ridikuloz Confirmed User Join Date: Jun 2005 Location: ▓NY▓ Posts: 2,080	$15k in new york will get a laugh at your face. __________________ Each persons' level of stupidity makes us different.

08-31-2007, 02:48 PM	#4
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	Depends on the price of the house. Used to be 20% down, was pretty standard, now days, you can get away with 5%. __________________ In November, you can vote for America's next president or its first dictator.

08-31-2007, 02:49 PM	#7
sonofsam Too lazy to set a custom title Join Date: Dec 2004 Location: Vancouver Posts: 18,638	what about buying into an apartment that won't be finished building for another 2 years? that way you don't have to make any payments till the building is finished, and it'll appreciate a shitload by then... right? __________________ I like turtles.

08-31-2007, 02:56 PM	#8
StuartD Sofa King Band Join Date: Jul 2002 Location: Outside the box Posts: 29,903	Funny, I had put $45k down on my house... you are thinking $15k. Yup, you're definitely the one to judge me __________________ This is me on facebook This is me on twitter

08-31-2007, 02:48 PM	#3
zEn84 Confirmed User Join Date: May 2004 Location: BC Posts: 484	Well seeing you are from Vancouver, with our prices right now, 15 wouldn't be enough. Yes Real Estate is a GREAT investment. Tough to jump in right now, I would hold off abit longer I think..

08-31-2007, 02:49 PM	#5
aico Moo Moo Cow Join Date: Mar 2004 Location: Washington State Posts: 14,748	Short answer: no Long answer : fuck no

08-31-2007, 02:49 PM	#6
baycouples Confirmed User Join Date: Mar 2004 Location: San Jose, CA Posts: 1,341	I just bought a rental property and it's tougher than ever to get a loan no matter how good your credit is and how much money you make. If you put $15K down - you'll still probably end up with like $5K in closing costs. It's insane right now.

08-31-2007, 03:04 PM	#9
xNetworx So Fucking What Industry Role: Join Date: Jan 2004 Location: Whore Island Posts: 14,445	Depends on what type of loan you can get. 15k for a 30 year won't get you much. On a 3 year arm loan (if you can find one), 15k could get you something better but its risky.

08-31-2007, 03:07 PM	#10
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	I would NOT buy real estate right now. You'd end up overpaying. Wait 3 to 6 months, maybe less, and snap up the bargains. The housing industry has been propped up with bullshit for so long that it was like Enron, eventually all the moisture was cooked out of the books and they caught on fire.

08-31-2007, 03:13 PM	#12
flashfire ICQ 1 6 7 8 5 3 4 9 2 Join Date: Feb 2003 Posts: 13,098	the real estate market is still strong in canada though....especially in calgary and vancouver

08-31-2007, 03:17 PM	#14
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	I was reading in the wsj, a doc with a 800 credit score put 20 percent down on a 700k house and the bank pulled put at the last minute.

08-31-2007, 03:25 PM	#19
Violetta Affiliate Join Date: Jul 2004 Posts: 28,735	I invested in an apartement 1 year ago. Was the best investment I have ever made. But I dont know anything about the canadian market. Anyway, houses and apartments are always a good investment in the long run if you ask me __________________ M&A Queen

08-31-2007, 03:34 PM	#21
sonofsam Too lazy to set a custom title Join Date: Dec 2004 Location: Vancouver Posts: 18,638	okay thanks for your concern, you and your culdesac on your head can see your way out of the thread... bye __________________ I like turtles.

08-31-2007, 03:42 PM	#25
sonofsam Too lazy to set a custom title Join Date: Dec 2004 Location: Vancouver Posts: 18,638	Shitty.. so you try this hard to be a player, and i don't even know what it is exactly that you do... you've done a great job.. you seem to know every detail about my life and business dealings.. so maybe i did something right :thumsup either i did something right, or you have a thing for younger guys either way, you can go get fucked now __________________ I like turtles.

08-31-2007, 04:06 PM	#27
minniesoporno Confirmed User Industry Role: Join Date: Nov 2004 Location: Toronto Canada Posts: 1,150	well in canada it is, with the first time buyer plan.

08-31-2007, 04:07 PM	#28
Snake Doctor I'm Lenny2 Bitch Join Date: Mar 2001 Location: On top of my soapbox Posts: 13,449	Sure, get a subprime mortgage that you can't afford, then the president will use my money to bail you out so his hedge fund buddies don't go bankrupt.

08-31-2007, 04:10 PM	#29
PantiesDropped Confirmed User Industry Role: Join Date: Aug 2007 Location: Northern California Posts: 321	Yeah.. here in Cali house you need at least 10% of the loan as a down payments

08-31-2007, 04:48 PM	#31
Star 69 Confirmed User Join Date: Nov 2005 Location: Russia Posts: 8,602	Such amount is not enough for a downpayment in Kiev. __________________ e-mail star69

08-31-2007, 04:50 PM	#33
Star 69 Confirmed User Join Date: Nov 2005 Location: Russia Posts: 8,602	Such amount is not enough for a downpayment in Kiev. __________________ e-mail star69

08-31-2007, 04:53 PM	#34
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	Should be a pretty nice trailer. Now he just needs to find a place to park it.

08-31-2007, 04:56 PM	#36
fris Too lazy to set a custom title Industry Role: Join Date: Aug 2002 Posts: 55,372	buy a condo, good investment, down payment is less. i only had to put 5000$ down, and i charge 1500$ a month rent + condo fees. __________________ Since 1999: 69 Adult Industry awards for Best Hosting Company and professional excellence. WP Stuff

08-31-2007, 05:05 PM	#39
JasonSmokes Confirmed User Join Date: Aug 2007 Posts: 364	15k on a hundred thousand dollar property maybe.

08-31-2007, 05:15 PM	#41
BlueDesignStudios Confirmed User Industry Role: Join Date: Feb 2003 Location: Australia Posts: 9,492	depends on where you live entirely __________________ Blue Design Studios - Adult Design Specialists! Email me for a free quote: [email protected]

08-31-2007, 06:19 PM	#43
AllStar Confirmed User Join Date: Feb 2006 Posts: 461	what were your sites? how come they didn't work? 15k is plenty, however the market in Van is gonna tank. look at its history. When the US hiccups, canada pukes... __________________ WWW.allstarcontent.com Killer Content

08-31-2007, 08:07 PM	#45
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	now a days with 15k I don't think you will be able to get anything decent, except maybe some condo in some ghetto part of town... __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

08-31-2007, 08:23 PM	#46
PSSuperstars Confirmed User Join Date: Jan 2006 Location: Houston, TX Posts: 1,477	I just financed 240,000 with zero down here in Houston TX... 30 year mortgage.. 7.1% rate... 2700 sq ft single story.... 23 year old female, self employed.. credit score 700.... had zero problems with closing or anything.. I think it depends on the area.. I'm going to be financing 50k more to put in a pool in the next few months too. __________________ Porn's Best Kept Secret : PSOCash.com : Make Money Promoting Phone Sex in Members Areas, TGPs, and MORE! : Lifetime 30% Payout *Best Webcam Referral Payouts*

08-31-2007, 08:25 PM	#47
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Real estate is a rich man's game. If you are under capitalized, you will get stomped. __________________ Boner Money

08-31-2007, 10:53 PM	#49
sweetcuties Confirmed User Join Date: Feb 2002 Location: Somewhere Posts: 5,859	Depends on where you live and the total cost of your house. Not sure if you know about the MLS (Multiple Listing Service) ... try to get access to it and look at HUD and/or Bank Reo's __________________

08-31-2007, 11:31 PM	#50
collegeboobies So Fucking Banned Join Date: Jul 2004 Posts: 3,644	hmm i put $0 down on my house 3 years ago. just paid closing cost.