UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: Phmerc One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 13972  
Subject: Re: Las Vegas house Date: 12/29/2012 3:15 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hey everyone

Thanks to all those who replied, I appreciate your feedback.

I understand that there is a risk of there being no tenants and me having to cover the expenses, but I do have a secure job and make a reasonable income, especially considering I live at home and my expenses are very low. So, in a case like that, I would be able to cover expenses and paying my line of credit. So I would never run into the risk of "screwing" my dad over.

I just figured that with such a low interest rate, I don't really need to make a down payment. I could, but I would rather leave that money for stocks and let someone else build my equity. My intention isn't to sell in three years, I can afford to keep the house forever and just collected rent payments. I was just hypothetically thinking that IF I got married and had like 3 kids in 4 years And needed to sell the house, I could and maybe reep a little profit. But that's a massive IF and won't happen cause its not what I want. My plan is to slowly pay the house and keep it for as long as I can, until the housing marker in Vegas does bounce up a reasonable amount, but I would be I'm no rush and still be able to afford to move out on my own in about 3 years. Maybe I didn't make myself that clear. But there is always a risk of something happening, but I have made sure that I am minimizing it to its smallest degree, I guess the biggest one is have a secure job that pays well.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement