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 :1orglaugh:1orglaugh:1orglaugh:1orglaugh

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

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..

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

Short answer: no
Long answer : fuck no

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.

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?

Funny, I had put $45k down on my house... you are thinking $15k.
Yup, you're definitely the one to judge me :1orglaugh

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.

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.

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

Especially with the 2010 Olympics getting closer and closer.

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.

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 :thumbsup


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? :1orglaugh

are you sure? even a first time buyer?

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?

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

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.

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. :glugglug

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.

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 :thumbsup

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? :1orglaugh

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

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.

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

I don't live in the states :error

Such amount is not enough for a downpayment in Kiev.

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!

Such amount is not enough for a downpayment in Kiev.

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

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.

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.

really? examples with links?

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

15k on a hundred thousand dollar property maybe.

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

depends on where you live entirely

Coming from someone who has woodgrain walls? Look whos talking :1orglaugh:1orglaugh:1orglaugh

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...

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. :2 cents:

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...

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.

Real estate is a rich man's game.

If you are under capitalized, you will get stomped.

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).

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 :2 cents:

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