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Old 08-14-2017, 08:04 AM   #1151
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i was thinking that too, it's not going to be "right"

id be wanting compensation back & them to leave it
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Old 08-14-2017, 08:06 AM   #1152
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Really been enjoying spending time out in the boonies down by my buddy in Morris. There's a lot of enticing property for sale down there. Morris/coal city/diamond
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Old 08-14-2017, 08:18 AM   #1153
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https://www.redfin.com/IL/Wilmington.../home/72163437
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Old 08-14-2017, 08:21 AM   #1154
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https://www.redfin.com/IL/Morris/613.../home/72158952
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Old 08-14-2017, 08:33 AM   #1155
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those are cool

if you can live "down there" i think it's sweet.
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Old 08-14-2017, 08:44 AM   #1156
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It's commutable distance to work still which is #1. About the only option to live near water besides the city. I'd be lucky to find a 1br condo in the city for $200-220
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Old 08-14-2017, 08:45 AM   #1157
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right, that's where it makes sense for you

rich commuting from there to huntley, wouldn't.
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Old 08-14-2017, 08:58 AM   #1158
 
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@RICH17

Did you ever look at that $50K house in FRG?
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Old 08-14-2017, 09:01 AM   #1159
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Did you ever look at that $50K house in FRG?
Inside no. Just outside. Went contingent fast
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Old 08-14-2017, 09:05 AM   #1160
 
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You really need to jump on these things if you are even interested. Shit like this will sell to the first person who comes out with cash.
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Old 08-14-2017, 09:06 AM   #1161
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You really need to jump on these things if you are even interested. Shit like this will sell to the first person who comes out with cash.
Yea seems that way. that's why we jumped on the house in Mchenry. But its 30k overpriced IMO
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Old 08-14-2017, 09:07 AM   #1162
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If you can't buy the shit with cash right away, you're never going to get it.
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Old 08-14-2017, 09:24 AM   #1163
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Word. Big dick investors sweeping that stuff up with the quickness and a cash deal.
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Old 08-14-2017, 09:24 AM   #1164
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Yup, that's why we're trying to jump on them fast
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Old 08-14-2017, 09:30 AM   #1165
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Yup, that's why we're trying to jump on them fast
Are you trying to do this with a loan? Or do you have the cash for it?
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Old 08-14-2017, 09:31 AM   #1166
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Are you trying to do this with a loan? Or do you have the cash for it?
Uncle is buying with cash, fixing it up then I will get a loan on it and buy from him.
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Old 08-14-2017, 09:33 AM   #1167
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Uncle is buying with cash, fixing it up then I will get a loan on it and buy from him.
You gotta cut the dick off them big dick investors. Get on that shit!
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Old 08-14-2017, 11:22 AM   #1168
 
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Big Dick Team Octane isn't swinging big enough dick for the real estate business.
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Old 08-14-2017, 11:50 AM   #1169
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And now you're going to have some shitty angled seam driveway too. I'd be getting the 3 car wide and money back for their fuck up. Unless they want to rip that out and pour it even.
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i was thinking that too, it's not going to be "right"

id be wanting compensation back & them to leave it
I already said it better not look like an afterthought so dig it up and redo that drive way which they agreed to in email.

Me: "Hi all, just following up on this. Please let me know if we can get this addressed. My biggest concern is that the driveway looks like an afterthought when fixed so please do what is necessary to have the driveway full as if it were poured that way to begin with such as the neighbor across the street from my house. "

Project Manager: "This is will be addressed this week. I still need to go over the details with the concrete company but our plan is to remove the sections that are affected and the apron. Then we will pour the three car driveway. If you have any concerns please call me. I am back to work."
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Old 08-14-2017, 02:13 PM   #1170
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Some food for thought:
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I'll piggyback with this about PMI and why I prefer 5% down. (Conventional only.)
Housing prices are usually rising. Unless you think you can time a collapse, which are rare, you will pay more for your house in 2 years than you would now. I'll be using 250k/5% rate as my baseline housing price throughout this post. Putting 5% down costs you 12,500. Putting 20% down costs you 50,000. If you're buying in the 250k range there's a good chance that 37.5k could take another 2 years to save up for. At average growth rates in an average state, you're paying another 20k for that home in 2 years. Sweet, you saved 9-10k in MI payments and tacked on an additional 20k in PI. You might say that you pay less interest if you wait 2 years because you are financing less, even at the higher price. This is true, but if you really want to do that you just make curtailments every month with money you would have otherwise been saving for 20% down. Now you have the lower UPB, pay less interest, and payoff sooner. This vastly outweights that piddly MI.
Well Sardines, I got a nice inheritance so I can actually afford the 50k down payment, I should do it now right? Not if you don't need to! Financing at 5% means you pay 170k in interest life of loan and probably 9-10k in MI depending on the state. 180k of "wasted" money (ignoring tax goodness.) At 20% down you pay 143k in interest and 0 MI. Sweet, you saved 37k over 30 years. DO YOU KNOW HOW BAD THAT IS? If you put 37.5k into the market and got annual returns of 4% (bad) you'd make 80k in that same time frame. 80k > 37k. Also, you have access to that money, whereas if it's just in equity it's tougher to tap into. With average S&P returns you'd make over 150k more putting it into the market than your down payment.
What if another collapse happens? Well there's 2 scenarios. You keep your job and can wait it out, so your equity is irrelevant. What if you can't afford the house though? A lot of markets dropped 50% in the last collapse. Whether you put 5% or 20% down, most borrowers will be underwater. Do you want to lose 12.5k or 50k? Also! Guess what, we have our S&P investments. It sucks that it's likely down quite a bit, but if you can cash out and make your payments, you keep your home, which will someday get value back. Or you walk away from the home and still have money in the stock market. These are the biggies. Really, the only upside of putting 20% down is a lower monthly payment, but if the change in monthly payment from 5% to 20% impacts your ability to pay, you are buying outside of your means as it is. I guess if your credit is bad you'd need the 20%, but most people with bad credit aren't saving enough to put 20% down on a house. (Barring inheritance.)
So how did this myth start? Well it didn't used to be a myth. Interest rates used to be insane. I still see thousands of borrowers in the low 10s. Remember that 37k we "saved" earlier by putting down 20%? At a 7% interest rate that number is closer to 75k. At a 10% rate it's over 100k saved. Also, we're looking at a 70% payment different instead of a 20% one. Putting down 20% was good advice in times of high rates, but it's pointless now.
TL;DR- Low rates and a thing called the stock market makes 20% down a bad idea these days.
Source: I get paid to figure this stuff out.
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Old 08-14-2017, 02:15 PM   #1171
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Some good knowledge there.
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Old 08-14-2017, 02:21 PM   #1172
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is there a lot of low-interest 5% down conventional 30 year mortgages out there?
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Old 08-14-2017, 02:35 PM   #1173
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the term Conventional 97 was thrown around a lot when I was looking but I never qualified for it. 3 percent down and pmi til 10 percent of the house was paid off.
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Old 08-14-2017, 02:48 PM   #1174
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that's cool. but not. lol pmi blows.
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Old 08-14-2017, 02:55 PM   #1175
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It does. but its there. the guy has a point from an investment point of view. I think it depends on how long you plan on being at the house. Forever home? get that bitch paid off asap. then dabble in the markets. Just my 2 cents
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