...in 11 months


God willing...


Man...my bros at work have been pushin me to step my game up...livin in apartments ain't cuttin it, esp. if ur payin like 800-900 a month to rent when you can own.


Well...I decided I want to purchase a Condo in down town D.C. The loan offers are steep...My credit isn't sterling...So, I have to put down a good chunk for a down payment...

I have it calculated to have enough to secure this loan in 10 months. And, in that 10 months, I plan to work to improve my credit so when I re-apply next July, I can get an even better deal.

I don't know how safe this is, but I plan to invest aggressively in my company's 401 K for the next 10 months to maybe speed the process along. They match my contributions by 6%.

Well, I'mma be on a budget for the next year. But, in the end, I'll own my own shit!

its not a good idea

Yea...Jus thought about that


I can invest conservatively and still reach my goal

Only thing is possible tax penalties when I yank this money out in July of 07


Imma talk to some people and see wuts the best course of action.

Who da fuck cares? We don't need no damn play by play...


*PEOPLE*

Stop treating RV like your life..we don't need to know every fuckin' thing!

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m eazy why do you remain here if you dont like/how people use RV?
you complain about people using RV to speak about there life, while all you do is complain about it!

Do you relise spenind more time complaining is worse than actually being complained about.

If its seriously effecting you that much that you feel the need to post about it, then logg off.

if its the same in the states as it is in canada - I would invest in a way that doesn't involve tax implications AT ALL. This can be done numerous ways, as conservatively or as aggressively as you want. (GICs, Bonds, Mutual Funds, Stocks) You do NOT want to be dealing with tax penalties, which in some cases cost more than the profit you will make from some very aggressive investing. (meaning, you might as well put the money in your piggy bank) word.

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Oh no...I was just bored and decided to write something. I am sorry if it offended you. Wouldn't want to get on anyones bad side!


lol

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Depends if you plan on selling it Q.

Interest rates are climbing higher and higher and most people just rent because it is cheaper in the long run. Look at how long it will take to pay back the loan you are taking, the interest rates, is it permanent or can it be changed (Most change), etc...

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You pay $800-$900 a month rent?

wtf! That must be some apartment man, that's pretty steep.

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^^Yea...thanks...Imma sit down and talk with the financial guy today and devise a plan...

I heard some of those tax penalties can run over 10%...NO WAY!




And REV...yea...u know I plan on sellin home boy...esp. since the area it'll be in won't be far from the new National's stadium, which they won't be done with until after next year some time...or around that time...As far as the offers go, a few were 15 year while some were 30 year mortgages...6% Interest rate. DUnno how good/bad that is yet until I compare and talk to other people who've bought property.

Good luck with this shit man.....I know it's tough trying to buy a house or condo or whatever. Just make sure you are in a place that will appreciate in value instead of depreciate for when you want to move or whatever

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^^Thanx...anything in DC appreciates




basically...they're developing everything




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renting is one of the most retarded things ever to do....IF u plan on staying there for a sufficient amount of time....

people dont realize you can own for the same price as rent....maybe a small amount more...maybe a small amount less if your lucky.....

and it may be diff in DC...im not sure...but i bought my condo for $50,000 and spent about 10 thousand in fixing it up.......*im sure 50,000 wouldnt get u shit in DC...its a lot diff in the south..u can get more for less*

but yea..in the end...im paying 500 a month to own...i have 2 friends renting out from me...and im paying extra on it every month......they cant tax any extra money you put down on it.....so if u can...just pay like 100 bucks extra...*more if u can*....and itll be paid off pretty quick....i plan on having my condo paid off in 5 yrs...at the most....

so yea man...definitely try to get u something to own...it pays off in the end....

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^^HOw can u own a condo if ur under 18?



and, the condo Im goin for is around 190-200,000




And, the financial consultant told me I cud get 100% financing if I up my credit score by jus a few points. So, I'm opening a line of credit and in 6 months, God willing, I'll have that loan.


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