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A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Fri Aug 22, 2014 12:39 pm




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 Post subject: 21 year old buy a condo ?
PostPosted: Mon Jan 26, 2009 9:42 pm 

Joined: Tue Dec 30, 2008 6:22 pm
Posts: 18
Im 21 intrested in purchasing a 2bed.2bath condo for 55k in downtown Sarasota it is in really great shape community has a pool , fitness center, computer room + more click here or copy paste to take a look for yourself
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anyway I dont have any plans currently on ever leaving florida or this area would this be a good investment for me while im young ? I plan to put 10 % down
please help GRS readers !


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PostPosted: Tue Jan 27, 2009 12:49 am 

Joined: Fri Aug 31, 2007 7:48 am
Posts: 286
I don't understand... your website CLEARLY states "Receive Cash To Your Door With My Money Help Program." Why don't you sign yourself up for your money help program and just FedEx yourself money instead of playing with real estate when you only have 5k to put down?

As of Jan 11, 2009 you still had a car loan, is that already paid off? On Jan 12 you said "I would recommend that you pay off all current debt before you start saving for long term, you would honestly be loosing more money than you are making by paying intrest rates and inflation." Yet, you apparently have 5k laying around and are about to spring for a 50k loan.

Your very shady website and your contradictory posts are all very confusing.


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PostPosted: Tue Jan 27, 2009 5:40 am 

Joined: Tue Dec 30, 2008 6:22 pm
Posts: 18
LOL thanks for being so helpful , yes I still do have a car loan of $6,900. I plan to pay off in 5 months. Im so young I need to build my credit history. So I didnt want to wipe it out all at once. or should I ? As for my website. Im just learning how to put it togehter just testing some things out seeing how html and javascipt work . dont have time right now to fully develop it. Im a college student and I have a career at the hospital I am on call most the time. Anyways do you think this condo will be a good investment for me . AFTER my car note is paid off ? please try to be more sesnative to people asking for help on here Thanks !


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PostPosted: Tue Jan 27, 2009 7:19 am 
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Joined: Wed Apr 04, 2007 7:46 pm
Posts: 1627
Location: Washington DC
I too am confused. We don't know your income, your cash flow, your debt holdings.

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PostPosted: Tue Jan 27, 2009 3:58 pm 

Joined: Wed Jun 20, 2007 10:24 pm
Posts: 28
I am not sure Obodden if you're still around but here is my 2 cents.

I guess we don't know enough about your total financial picture to help you come to a decision. All I can say is this: You are young and you have come across a deal that appears good. Do not buy for the sake of buying! Have you been pre-approved for a mortgage? Also, keep setting aside money regularly for a downpayment. RE prices are not gonna bounce back tomorrow, or next month, or...heck, I have no idea. My point is, you may be tempted to jump at this opportunity because it looks too good to pass up, and perhaps you are afraid if you don't buy now, you will be priced out when RE prices go back up.


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PostPosted: Tue Jan 27, 2009 11:38 pm 

Joined: Mon Jan 19, 2009 4:31 am
Posts: 65
Something else to consider: You’ll want to plan on owning this property for a minimum of five years unless you want to bring money to the table to sell it.

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PostPosted: Wed Dec 12, 2012 7:12 pm 

Joined: Fri Aug 31, 2007 7:48 am
Posts: 286
There's nothing wrong with building a site to learn how to make one. But why would you build a site that so closely resembles a money scam website and have it linked to in your signature? Only an idiot would give out their information for an obviously illegitimate program, but there are PLENTY of idiots out there who will... idiots who want money fedexed to them... people who want to help out a Nigerian prince and get a cut. That personal information can be sold or used maliciously. All things considered, a shady/predatory website, intentional or not.
Last bumped by Obodden on Wed Dec 12, 2012 7:12 pm.

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