Rent vs buy chart - Page 3

shmike · 01-26-2011, 10:56 PM

Quote:

Originally Posted by shmike

I know people that would be happy to have a willing buyer at a 75% loss.

Quote:

Originally Posted by drewpy

Mmy cousins bought a house for 280,000, they can't sell it for 30k$ and they have tried... sucks to be them

Quote:

Originally Posted by drewpy

Boynton Beach FL

I may know them.

z06boy · 01-27-2011, 10:21 AM

We bought in the summer of 2004...luckily I got a pretty good deal. It was sold twice prior but the financing fell through and I just happened upon it while out looking. It was listed as SOLD but it actually wasn't.

It had sat empty for 9 months due to the guy that owned it getting some big promotion with Target and relocating to Ohio. The Relocation Company had owned it for several months and wanted to get it off the books...so we bought it below tax value.

With the state of the real estate market...it now isn't as great of a deal as it seemed in 2004 but it was still a decent deal by today's standards so I still feel pretty lucky.

The rental market here is doing well since so many are afraid to commit to buy or can't buy so we've been very lucky renting out a townhouse that we own in the area as well.

01-27-2011, 10:21 AM	#22
z06boy Letzroll Join Date: Feb 2008 Location: Lake Norman area, NC Moto: 07 Red R1 & 07 Blue R6 Posts: 5,265	We bought in the summer of 2004...luckily I got a pretty good deal. It was sold twice prior but the financing fell through and I just happened upon it while out looking. It was listed as SOLD but it actually wasn't. It had sat empty for 9 months due to the guy that owned it getting some big promotion with Target and relocating to Ohio. The Relocation Company had owned it for several months and wanted to get it off the books...so we bought it below tax value. With the state of the real estate market...it now isn't as great of a deal as it seemed in 2004 but it was still a decent deal by today's standards so I still feel pretty lucky. The rental market here is doing well since so many are afraid to commit to buy or can't buy so we've been very lucky renting out a townhouse that we own in the area as well.