Home Buying & Real Estate Thread

[jkallday]

Just bought a home, paid it via crypto and it being so new (the tech)...it was one hell of an experience. Lots of crazy stuff with UW. It was a 800k home we put down 20%

If anyone is in this situation or will be in the future, im more than willing to share the experience.

i thought you bought the Tesla model X p100d with that eth cashout back in january????

https://niketalk.com/threads/official-bitcoin-thread.302014/page-657#post-29485098

 

[tkthafm]

Waiting for prices to come down before I do some shopping, they're already starting drop even here in NYC. Apartments in my area getting 30, 40, 50k knocked off their listing prices and still aren't selling. I think we will get a good buying opportunity in real estate the next year or two. Don't really care about the rising rates just the actual prices.

 

[ii flash ii]

Well they said that was the main reason with prices going down, interest rates were gonna be high

I hope youre right, I need a house... Running out of room where I’m at now

 

[edshoecator]

exposed?

 

[fapmasterjr]

i thought you bought the Tesla model X p100d with that eth cashout back in january????

https://niketalk.com/threads/official-bitcoin-thread.302014/page-657#post-29485098

exposed?

i can show you 4+ more withdrawals from coinbase....do u really want me to? no exposing here..just tell me what you'll do.

believe what u want to believe...but just helping ya'll out if you buy a home using crypto i can give u first hand perspective..... here is closing cost that I had to wire (coinbase-->bofa-->title) that was a pain due to sourcing of funds:

 

[fapmasterjr]

exposed?

*noted.

 

[edshoecator]

you're rich.

 

[jkallday]

i can show you 4+ more withdrawals from coinbase....do u really want me to? no exposing here..just tell me what you'll do.

believe what u want to believe...but just helping ya'll out if you buy a home using crypto i can give u first hand perspective..... here is closing cost that I had to wire (coinbase-->bofa-->title) that was a pain due to sourcing of funds:

so you didnt get the Tesla model X p100d??? i just remember you saying that you cashed out ETH at around 1k to get the tesla but you never posted a pic of the Tesla and now you saying you used the funds for a house. just trying to get the story straight. when tesla pics?

also 20% of $800k is $160k not $112k. i actually would like to see 4+ more withdrawals from coinbase if you dont mind

 

[SupremeBeing5]

 

[xbiker47]

 

[edshoecator]

exposed?

 

[townbidness]

Who cares?

 

[moderndarwin]

How many jobs do you have?

How many hours you work?

Are you paying a high car note or rent that’s unessacary?

What else do you spend your money on besides basic needs?

A lot of things factor in. $500 a month is low, but it’s a start. Keep stacking.

Income is around $6,930 (after tax) between the wifey and I.

Fixed expenses are about $4,100 (rent, utilities, cell phone, car note, car insurance, student loan, pet insurance, pet food, transportation) and variable expenses are about $2,000 (food, entertainment, travel, misc).

Of course we’re trying our best to minimize our variable expenses but aren’t going to go too ham on penny pinching. Don’t want to stress ourselves out too much as we’re both early in our careers and know that we need to be mentally strong to increase our incomes (as opppsed to decreasing spending). For the SF area our rent is low - we share our place we’re renting with a roommate so it’s only about $2,200 and $250 for utilities. Hard to do much better than that in this area unfortunately.

 

[edshoecator]

Who cares?

The town does.

This townbidness; niketalktown bidness

 

[Chopper]

cat talmbout he just copped a crib but showed receipts of ETH at $1k. Y’aight.

 

[fapmasterjr]

so you didnt get the Tesla model X p100d??? i just remember you saying that you cashed out ETH at around 1k to get the tesla but you never posted a pic of the Tesla and now you saying you used the funds for a house. just trying to get the story straight. when tesla pics?

also 20% of $800k is $160k not $112k. i actually would like to see 4+ more withdrawals from coinbase if you dont mind

Cool you can do math, but looks like you dont know the process of owning a home (i can assume rt, just like u are doing). Seems like others here atleast know the basics.

The $112k is what is called closing for title, you can put whatever amount you want prior and the balance owed is what you have at closing.... hence the $112k sherlock. Crazy how cats here so bitter or have some hate on someone trying help. Anyways, I dm’d everyone back who asked more info. I have a template you can use to make things easier for Official Statements (sourcing of funds)...DM, so atleast i know who.

Outside looking in — ooh i see someone posting a tesla and new home...so they obviously real. Stop it. Keep believing im lying, it shows where you’re at. Stay classy NT.

 

[fapmasterjr]

cat talmbout he just copped a crib but showed receipts of ETH at $1k. Y’aight.

Quoting this just to show everyone how funny this is.

 

[edshoecator]

I've owned a few homes and just in the process of selling one....your title scenario doesn't make sense to me.

You have a deposit and whatever terms you sign off for. I put 20k down as a GFE and then tell escrow the rest of the funds are coming from X.

Only time money was owed was if property taxes were over estimated, or a credit but my down wouldn't really be affected by credits unless you put too much down but I still don't grasp your reasoning.

If you're balling, you're balling...but if I'm not mistaken ETH hasn't been at 1k this year

 

[SuperQ]

Avoiding PMI would be nice but didn’t realize there are actually ways to buy without the full 20% down. Varies - currently in Bay Area so there’s nothing that is possible here since some people buy outright with cash and homes are a million+. Most likely will look to buy in Sacramento tho in around 2 years since hopefully I can work remotely and live there instead.

Im with you on the 20 percent bit. It'd take us at least 4-5 years to save that up and in the Phoenix market, that just isn't feasible now. Im looking at 3 percent down. Unless the Phoenix market takes a crazy turn, Im looking at PMI for 3 years, maybe 5.

 

[SuperQ]

Avoiding PMI would be nice but didn’t realize there are actually ways to buy without the full 20% down. Varies - currently in Bay Area so there’s nothing that is possible here since some people buy outright with cash and homes are a million+. Most likely will look to buy in Sacramento tho in around 2 years since hopefully I can work remotely and live there instead.

Double post

 

[SuperQ]

Avoiding PMI would be nice but didn’t realize there are actually ways to buy without the full 20% down. Varies - currently in Bay Area so there’s nothing that is possible here since some people buy outright with cash and homes are a million+. Most likely will look to buy in Sacramento tho in around 2 years since hopefully I can work remotely and live there instead.[/QUOTE

.

 

[mplsdunk]

If you gotta do FHA and pay PMI then it is what it is.

Better than paying more money in rent than your mortgage would be.

Buying a house sucks. I’m going through the process now and we close on Wednesday. We put 20% down and we thought they’d be happy they didn’t have to do an fha loan... nope the underwriters were still a pain in the ***.

I feel for you guys who can’t get into anything decent for under 400k. I was looking in Minneapolis and everything was a tiny dump under 300k. Had to take myself to St. Paul.

 

[CleanestNdaCity]

Y’all make me so glad I live in Georgia. More house for the money outside of Atlanta. I guess it is what it is though.

 

[SuperQ]

If you gotta do FHA and pay PMI then it is what it is.

Better than paying more money in rent than your mortgage would be.

Buying a house sucks. I’m going through the process now and we close on Wednesday. We put 20% down and we thought they’d be happy they didn’t have to do an fha loan... nope the underwriters were still a pain in the ***.

I feel for you guys who can’t get into anything decent for under 400k. I was looking in Minneapolis and everything was a tiny dump under 300k. Had to take myself to St. Paul.

In Phoenix, you can get a decent home for for 275-325k but you will have no yard and all of the community pool, community park BS. If you want a decent backyard, pool, etc youre looking at 375-425k.

 

[mplsdunk]

Y’all make me so glad I live in Georgia. More house for the money outside of Atlanta. I guess it is what it is though.

I would make like 12 dollars an hour if I lived in Georgia doing what I do. Our houses aren’t cheap but jobs pay well.