Moving
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I will likely be moving/transfering in the next couple months. I don't plan on staying at the new job/location from more than 18-24 months. I expect to have about $40,000 on hand from selling my existing home. Since I don't plan on staying for more than two years(possibly only one) should I not purchase a new home in the new location and rent, then invest the $$ in some short term investment? 
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Thu Aug 31, 2006 7:07 pm |
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go2self
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Location: hawaii
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Investments are back end loaded meaning the effects of compounding as not as meaningful (unless the principal is over 250,000) as flipping a property in less than 2 years. You have can use the 'relocating because of job' to your advantage to avoid added fees.
Get an ARM or interesst only payments that can be looked at as 'rent' and always be selling the new house, who knows you may just get it in escrow within 6 months.
Larely depends on where your talents lie.
Time is our most volatile resource that if not used immediately is lost instantly
Last edited by go2self on Thu Aug 31, 2006 8:10 pm; edited 1 time in total |
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Thu Aug 31, 2006 7:30 pm |
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go2self
Preferred Member
Cash: $ 26.45
Posts: 129
Joined: 06 Aug 2006
Location: hawaii
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Sorry dont have that one but you are right there are many out there. If memeory serves me most do not calculate in months (not as impressives I suppose)
But 20K down on an affordable (easier to resell) studio, duplex or other low cost quick tur around unit makes sense,
But you are right you got to run the numbers.
Tend to that feline.
Time is our most volatile resource that if not used immediately is lost instantly
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Thu Aug 31, 2006 8:09 pm |
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Moving
New Poster
Cash: $ 0.45
Posts: 2
Joined: 31 Aug 2006
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quote:
Originally posted by go2self
Sorry dont have that one but you are right there are many out there. If memeory serves me most do not calculate in months (not as impressives I suppose)
But 20K down on an affordable (easier to resell) studio, duplex or other low cost quick tur around unit makes sense,
But you are right you got to run the numbers.
Tend to that feline.
If we did buy we would seek out a place that a "trusted" relator would convince me as being able to quickly turn around.
The interest only loans really scare me and ARM's might be appealing if I can be locked in for that first year.
I have not found a rent/buy calculator I like better than just calculating interest and principle payments in excell - adding in approximated taxes and insurance and then comparing this to advertised rental rates in the area we are moving to.
I guess it boils down to being able to sell house in one year, quickly, for more that I bought it for (at least the inflation rate)
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Fri Sep 01, 2006 3:47 pm |
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