Found this article about flipping houses.http://ezinearticles.com/?How-a-Firs...t-Bad&id=80052 Sounds good. Most of those I would have thought of. No contractor is getting near my house. If I can't do it, it isn't getting done. It said to not put in a down payment, but to keep the money you would have used as a down payment to fix things. Interesting..

 

Pantera, if you don't already have one, go to bookstore and buy yourself an AMORTIZATION HANDBOOK (tells monthly payment required to amortize a loan) I paid 5.50 for mine several years back,so they are cheap. You will need it if you are getting married.

 

I think I will be getting a few books. This article makes it look too easy. It was the type of things I would like to do (and know how to do). http://ezinearticles.com/?A-Beginner...Houses&id=4317

 

Check out Dave Ramsey. He offers advice on how to talk to them, what will and won't hurt, and how long to finance, etc.

 

power of the internet Al Gore so politely invented

http://www.bankrate.com/gookeyword/c.../mortgages.asp

 

pantera, PJ is giving you some strong advice. Take the 10k and buy a house and do your magic and make yourself some money.

PJ-- Only 190K on a nearly half-a-mil house. You are in the catbird seat. I congratulate you. Now sir, have a drink, pat yourself on the back, get on the internet and order something nice for your new truck, as you deserve it. I decided I need replacement bumpers fr and rear, so ordered them today. Ahgh, I feel good just thinking about them on my truck.

 

The MIL helping out is great, just be careful how you present that when you go talk to a mortgage co. When we went to do that they said you can't have relatives gift you money for the house payment etc.

So my in laws decided that my truck should be paid off. Same money and the mortgage co knew about it, but they didn't care as long as the debt to income worked out. You can make it happen, sometimes you just have to outthink them.

Good Luck!

 

I was in your shoes a few months back, way to much debt to income, and self employed, so no pay stubs. The wife and I scraped up 5% down on a 55k house in a small town, and have a 6.? interst rate. Best thing we ever did. Never know untill you try.

 

FWIW- My morgtage company said it didn't matter where the down payment money came from.

 

Usually they will want what is called a "gift letter" it is basically proof to the underwriters that that family didn't fluff your account for you to make your asset situation look better.

No Biggie.

 

I spent a cool $832.00 today, that ought to do it!

New gauges for the truck and a Husqavarna 455 24" saw for next years firewood.

I had an even thousand to spend, my wife called after lunch and I told her what I did. She said "Well, can I have the rest?" I was like "Welllllllllll"

Yes, we are very fortunate, both hard workers and tight with the $.$$

 

Cool! Nothing like cutting with a new saw and chain. Esp a husky, I've got a couple, never any trouble.

 

Before I took on the loan for my truck I was looking around for a place to flip. I started talking to as many people as I could about what it takes to buy a house and something that kept coming up was taking a first time home buyer class. The ones around here take 1-2 days for a few hours and can really help when applying for a mortgage (intrest rates for the most part) or so I heard.
I wish they has places for sale up here in Western WA for 55K
Good luck.

 

well before you get all tied up in buying a house you really need to think about what your committing your self to with marrige at such a young age. now im not saying dont do it im just saying from experence that all to fast that reality of forever sinks in and sometimes you feel that maybe you made the choice to marry to soon. well hope it works out for you and hope she says yes and also good luck with the house that really seems the right thing to try and do

 

For most this would be the case, but we're just moving it up a year, if that. I have no worries about us. We've gotten along wonderfully since we met. We've known each other for almost two years and have been toghether for about a year and 8 months of that. We already put our money in one account 6 months ago, that was a great idea as she gets paid by weekly and I get paid once a month so we both have more money. The main reason we're getting married is because it is just the smart thing to do. We'll have to spend money on a wedding and a down payment on a house, but I think the turnaround on realestate in this town will make it worth my while even if I barley fix anything. We could rent and save money, but not even close to as much. A house the size I need to fit all the crap I have will be almost 900-1200 a month rent. It would kill me to rent for that much when I could buy for half that and get the same house. I have resources at my disposal to make this very easy if things play out. Now all I have to do is get the courage to find the ring she wants