"100% of people who do not save money do not have any!"--Dave Ramsey

[JSH]

I also would not bother visiting local branches. I would look at the websites for of your local banks and credit unions to compare rates.

I would also contact Lincolnway considering they say they will do a $180k 30 year FHA loan in Show Low for 3.25%

Finding banks willing to write small mortgages is difficult right now. Small loans require the same amount of work and the bank gets paid less when the sell it.

[Xist]

I had tried to be productive for days. I decided to play a little World of Warcraft before writing my reports since I woke up early after some weird dream about leaving a surprisingly-busy community college at night and realizing that my Civic key was missing.

Mind you that Honda is in pieces.

I couldn't take a taxi home because of TPgate, but the community college was still busy [at night].

Anyway, someone in chat said that he shows 2.875% for $171,000 in 85901, although I cannot tell if that is with points.

I reached out to them. A random calculator says the payment would be $709.47. Edit! That would total $255,407

With PMI that is less than Navy Federal.

Can I work now?

[JSH]

I went on lendingtree.com yesterday, put in my info and clicked the button to see rates. HOLY CRAP!!! My phone rang withing 5 seconds and while I was talking to that bank 5 others left voicemails. 6 calls within 1 minute. I had 11 calls between 8 am and noon today.

The best offer is 2.750% on a 10 year / no points / $1080 in closing for a $190,000 loan with $100,000 cash out. A 15 year was 2.875%

The more I borrow the lower the rate and multiple companies have flat out said they don't do mortgages below $150,000. A couple said if I wanted to refinance just the $90K we currently owe I would have to take a $150 loan with $60K cash out and then use that cash to pay down the loan as soon as it goes through.

[Xist]

Lending Tree just shows me one place with 3.916% APR. I wonder if that was the one that my first crazy ex after Germany used. Her ex had given her personal information, she was angry with him, and she used something like Lending Tree to quickly do many credit checks, which she claimed ruined his credit.

Don't I date winners? Well, not recently. I have not had a date since well before TPgate.

I watched several more wholesaling videos while I started listing house numbers in the area. You can Drive for Dollars and look for houses that seem abandoned, like the vacant rental a few houses down, except I mowed the lawn, so it is less likely to draw attention. I can look up houses in the county database to see who is behind on their taxes. I plan on reaching out to the realtor for a house that has been on the market for over four years and see if she can tell me anything about the house on my street (which has a lockbox, but they probably do not want to have potential buyers contaminate it or rent it out and have them say they cannot pay rent). If not I can ask about the house that has been for sale for over four years.

In one of the videos the guy called people renting out houses on Craigslist and asked if they would consider selling them instead. The first guy said he had a rental that needed to be fixed up, he was getting older, and he was tired of it. He would happily walk away for $60,000.

The wholesaler said that the first person to name a price loses.

The other guy would not name a price, but said that he would have another property that he could sell in a month. The wholesaler said that he made eleven phone calls and potentially had three deals.

Another thing is that wholesalers periodically do mailings, but instead of buying a list, I have about 350 addresses so far from Zillow and Google.

I do not want to wholesale, I want to buy, but wholesaling sounds like a good way to put together enough money to buy, and to find good deals before they hit the market.

Flip Man, the wholesaler that I like the most [so far] says that if you can do four deals a month you are doing well. I do not know how many houses [without HOAs] there are in Show Low, but there are a total of 11,000 people. With family homes, apartments, mobile homes, etc., there might only be one or two thousand site-built homes [without HOAs]. If there are 1,500, can I flip 3% a year? It would be exciting if I flipped enough houses to put a down payment on a house and repair it, but there aren't any deals left.

Well, I did not find any houses for rent, but maybe I did something wrong. However, I found two houses for sale. One has four bedrooms, two baths, 1,350 square feet, and is on 20,000 square feet. It does not have a garage, but there is room for one!

They posted it for sale April third and took it down the nineteenth, but it is still up on Craigslist.

It was posted there April seventh. I thought ads automatically expired after a month. I wish that happened with OfferUp and Facebook Marketplace!

What in the world does "This home is priced to sell and has been disinfected for viewing at a safe, social distancing" mean? How do you socially distance from a house?

They were asking $101 per square foot, which seems great, although those bedrooms would be small, and the homes in that range sold for $125 per square foot with garages.

The thing is, the price is low, and it might be more difficult to find a loan for a smaller multiple of my yearly income, but if I got a mortgage for as much as I planned, and I got cash out for the difference, I could build a three-car garage.

Garage With Apartment Cost
For an average 400 square foot garage, an apartment costs between $60,000 and $70,000 to add fully finished. Your return of investment could improve if you build a detached garage with a loft above it and use it as a rental unit.

Yeah... it says $28,200 to $42,300 for a 3-car garage. The higher value for a 3-car garage could fit four cars, depending on how you want it.

They talk about putting full-sized trucks and SUVs in the garage, as well as bull bars, wheelchair lifts, etc.

They say that it costs sixty to seventy thousand dollars to build a two-car garage with an apartment above.

Around forty thousand dollars extra for a 2-garage with an apartment. If you rent it out for $400 a month you would break even in 8 years and 4 months.

You would break even in 75 months.

The other home somehow has 2 bedrooms, two baths, 1,800 square feet, a 1-car garage, and is on 3 acres for close to my self-imposed limits. It was posted on the MLS April third, also posted on Craigslist on the seventh, and taken off of Zillow on April fourteenth.

[JSH]

Originally Posted by Xist

Lending Tree just shows me one place with 3.916% APR. I wonder if that was the one that my first crazy ex after Germany used. Her ex had given her personal information, she was angry with him, and she used something like Lending Tree to quickly do many credit checks, which she claimed ruined his credit.

Did you just look at lending tree or actually give them your name, email address and phone number with permission for banks to call you?

When I just look at the website for rates in my area it shows 1 bank offering 3.375%

When I gave them my name, email, and phone number I got swamped with offers that were all 3% or lower.

None of this effected my credit. I didn't authorize any of the banks to pull my credit report. They just gave me quote based on the information I gave them. When I decided who I want to go with I will actually apply for the loan and let them pull my credit history.

[Xist]

I am not too worried about figuring out the absolute best rate right now. If something comes on the market I should be able to put something together quickly. Two places approved me [although USAA never specified a rate]. I applied somewhere that is supposed to be below 3%. If I do not hear back in a timely fashion I will follow up.

Someone told me that I should have had everything ready to apply for that school job before it popped up. A lot of good that does me!

[Xist]

It has been 15 days since a house came on the market, but it should not even show up, because it is manufactured. Two more manufactured homes show up under houses (Zillow has a separate category for manufactured homes).

The seller of the tiny blue house accepted an offer for full price yesterday. They must be desperate or on drugs. I look forward to see what happens: https://www.zillow.com/homedetails/1...1/8410334_zpid

You would hope that the buying agent would see the cracks in the drywall and the gap in the foundation. I pray the inspector checks it out. Yesterday the seller of a 2-bedroom, 2-bath home on a little over an acre accepted an offer, also for full price. At $138.80 a square foot it may be going for a good price.

A third seller accepted an offer five days ago for $136.51 a square foot.

What are the chances that all three are actually going for the full asking price? I think it is more likely that the actual price has not been updated yet.

I find it curious that two are accepting backup offers and one is simply pending.

There are only 11 houses for sale in Show Low for $200,000 or less. We may run out of houses.

Thirty-seven houses sold between this time last year and Christmas, but only 5 in the 5 months since--from 5 houses a month to 1. There probably would have been another 20 sales were it not for TPgate, so are they sitting vacant like the one down the street?

[Xist]

I do not know why I keep checking Zillow, I do not have any reason to doubt its notifications. Weirdly, the results seem to vary a bit. I was just looking at side-by-side windows. I looked at the filters three times and everything was the same, but one showed nine houses, and the other had fourteen.

It only showed nine and I spent far too long figuring out where everything else went.

They were just false positives. There is still one mobile home showing up.

In the default order of newest to oldest [just in case more houses disappear]:
The small 3/1.5 on 6th Dr. 1,092 square feet for $188,500.
The questionably-large 3/2 on McNeil. 1,820 for $174,900.
The even smaller 3/2 on 6th Dr. 979 for $173,000
Dated 3/2 on 13th dr. 1,311 for $184,000. The only clear fault is a missing strike plate in the 28th picture. Would that make it fail a VA inspection? I would need to talk them down, but I kind of like it. Gravel driveway and single carport.
Nice 2/2 on Miller, 1,147 for $199,500, but not $174 per square foot nice.
As far as I can tell this is an empty lot for $89,900 on the AZ-260
Up-to-date 3/1 on Reidhead with a 1-car garage behind the house. 1,581 for $194,900
3/2 on Oak Tree. 1,308 for $149,900 and on the market for over 4 years.

I just realized that this listing disappeared: this... thing... Two bedrooms, one bathroom, and nine hundred square feet for $119,000 I remembered that they were asking $119,000 for a 2/1 and 912-square-foot A frame, but I couldn't find it until I actually searched for "912 square feet."

It sold on 5/15 for $105,000--$105 per square foot. I desperately hope that the tiny blue house doesn't sell for anywhere near asking price. This one was in great shape and sold for a far better value.

I e-mailed the realtor that sold the house down the street [that is now a vacant rental with a lockbox), but have not heard back. If I were to pursue any of thse I would look into the one that has been on the market for over four years and then the dated one.

I thought that I had linked the A-frame house, so I reread the first 97 posts here and just saw the description that I used above.

Did you guys know that AllDarc was banned? It wasn't for quoting at the end of his message, either! His last message seemed okay, but the second-to-last seemed anti-feminism.

I also found some preforelosure\auction houses, but I will share those another time. It is after 02!

[oil pan 4]

What is there to say about them. They did a complete 180° from "believe all survivors"

[redpoint5]

I was wondering why AllDarc went all dark. Figured he was too busy with Covid lockdown and perfecting meatless meat.