Posted by George P. on 6/21/2005, 7:44 am, in reply to "PLEASE HELP .... PLEASE " Of course I am one of those, nothing down, interest only loan, at low interest. Why? It pays to control a big chunk of real estate with none of your money in it. I am watching all those fools putting big chunks of cash on condos in Miami that are going to be built in 2006 or 2007. In Vegas in 2008. Get rid off your husband and rid off all strings attached. That would be my first advise. I think the circumstances of everything will decide future of America. Most of the things we cannot even control. Remember, I am not Nostradamus, I could be wrong and it would not be the first time. Maybe my house quadruples in value next month, I know one thing, I am doing things I love to do George P.
69.165.225.97
First- do what you love to do and money will follow.
You decide, what you love to do or would love to do.
As to your condo. I bought year and half ago a brand new house. The exact dream house I was looking for at that time. My house doubled in value. If there is a fool born /I guess there is/
a fool that gives me all the money, I'll take it.
So I would never put too much money down if I don't have to.
I think people are totally insane.
Do what you want to do. Don't get stuck where you are.
Make money from real estate while you can.
It will take another 20 years to go through the real estate cycle.
I have no doubts that real estate will crash and it will be much worse then the dotcom failures.
Stocks you can sell with losses. You cannot move houses that easily. Especially those they didn't built yet.
When the real estate crashes, it will create an opportune time to do creative real estate for next 20 years.
It is no longer IF the real estate crashes, it is only a question WHEN.
I think this year.
Your condo maybe right back at the price when you bought it. Just a thought.
The real estate crash will be different than we know-only in some parts of the country. In Ohio,
they'll never know that real state took beating.
And many other places.
Oil-dollar value-huge debt-uncertainty in every area-hatred-division of people, just those few things alone can mess up our dreams.
maybe gas will be back at 79 cents, maybe the dollar will be 3 to 1 with Euro-who knows.
and that's the most important part.
I think that's the key to everything.
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