Saturday, April 17, 2010

Single man most optimal real estate options?

What is the most optimal real estate options for a single man? I am a 27 years old single man and plan to be single all my life. I dont have any savings and I dont believe in loans. I dont want to buy big houses because they are more for families. My dream house would be a mountain top cabin or log cabin in the woods, because they can be small, cheap and in secluded area - just what I need. And from what I researched on the net, you can build your own log cabin for 10-20K. I am not sure I want to build it, since I can buy a small cabin for 100K, I think. If I save 10K per year, I can buy it in 10 years. I can live in a car or a mobile home, but I earn about 5K per month, so I dont really want to do this, I rather rent and save for the next 10 years, or maybe I'll build one in 2 years with 20K saved money. What can you advise me?

Single man most optimal real estate options?
I'd be willing to bet that if you buy the property now, even with a loam..the tax deduction on the interest and taxes will cover that "cost" and you will be in the cabin sooner rather than later ...you could buy tax mate, or some other software package and figure it out in a few hours and probably 50 bucks for the program..Even though I always am dating someone, I am aware there is a good chance i am going to be alone in my retirement years, so i have a couple of small properties in Southern Ca I will probably hold on to forever even though the rents are not making me more than a CD although the property has increased in value 3 X's since the original purchase---which is something you should be considering....Take care and good luck....
Reply:Better to purchase a Residential Flat opposite to a reputed superspeciality Hospital.
Reply:Damn, I want your job if you pull in 5K a month. What do you do for a living? You could easily rent a small apartment for a couple months, save for a down payment and go to a mortgage lender. With your financial income your loan won't be huge and you could pay it off in almost record time. All it does is enhance your credit score so why the dread having a loan? Real estate is a business and you are the boss when it comes to the money. Especially since you have so much of it in your possession. Go talk to a mortgage specialist at a bank, ask questions and get some insight. They will talk to you and answer your questions, even if you don't decide to use their services. Their expertise is giving you the proper advice.
Reply:Another good option is a good sized boat like a small yacht. You can live in incredibly locations and move your home if you like. Some boats are incredible and you can have sol or power and desalinization equipment so you are self efficient. If I was single for life this would be my move.


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