Buying house with cash?

S

sourdieselyumyum

Well-Known Member
Would it be safe to buy a fixer up house for around 5000-7500 without alerting irs? Or is that a bad idea would be using house to run a few 1000 watt lights and veg light while fixing up.
 
xmatox

xmatox

Well-Known Member
sourdieselyumyum said:
Would it be safe to buy a fixer up house for around 5000-7500 without alerting irs? Or is that a bad idea would be using house to run a few 1000 watt lights and veg light while fixing up.
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Our countries real estate economy isn't the greatest, pay your taxes and bills. No problems! The IRS wants your money, not your buds.
 
420BongRips

420BongRips

Well-Known Member
Feel it out, you should be alright, 5000-7500 isn't that much for what you are buying. If you are worried just go for the payments.
 
2ANONYMOUS

2ANONYMOUS

Well-Known Member
sourdieselyumyum said:
5000$ - 7500$ total for house. I see it as a good investment as long as it don't draw suspicion. I can pull 2 per light so I'll recouped my investment pretty quick
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And Hopefully you can get the condemned sticker off the door , i take it this is in USA ?? and to my understanding Banks half to alert feds on any large with drawls, So lets hope you have the money in your cookie jar, and i think its around that sum .. they are legally bound to report it

Secondly .. How in the hell you really going to pull this off,, i mean lean / caviet, searches lawyer fees , I am not sure Are home inspections mandatory in USA now ?? and if its not well it would be wise to get one let alone bank financing . you better have a decent job??
all this is plus plus out of your pocket so really you better have like min 20 k

Last time i herd most banks have tightened there belts on loans,, Do you have good credit ?? Cause They learned there lesson last time

Now is this a possible rent to own agreement ??? where owner covers you so its rent cause its not in your name ..
or you take over payments owner takes 2 or 3rd mortgage out on the place and give you the monthly payment and in 2 years when mortgage is to be renewed you and him go in and he signs it over to you ...... But
Remember even if you made the 2 year payments you still need to qualify so you better have a job ..
 
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Corso312

Corso312

Well-Known Member
sourdieselyumyum said:
Would it be safe to buy a fixer up house for around 5000-7500 without alerting irs? Or is that a bad idea would be using house to run a few 1000 watt lights and veg light while fixing up.
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Very safe man... Nothing to worry about, Most used Cars are bought in cash only for that amount or more.
 
2ANONYMOUS

2ANONYMOUS

Well-Known Member
seriously that kind of money ? make sure it has a pee hole can some one find me 5 of these places?? i will buy them right now .. links please .. I am also thinking the electrical should be good to plug in 6000 watts of total consumption ..
Matter of fact lets drop it to 2000 watts haha make dam sure you get wieners and marshmallows for that house fire ..
To the op i am not trying to be a smart ass, I am just telling you what you are 100 percent getting your self into
How old is this house ?? when was water / heater tank last changed and yes pending on year you might need a complete electrical upgrade and not sure how much it costs there but it can be a easy 3 - 5 -8 grand cause legally you cannot do it let alone possible plumbing issues ..
lets face it owning a home or purchasing a home is a persons biggest invest ever and its not cheap
I say save your money , rent this place see whats all wrong , old places old trees main sewer issues that again can be costly pending summer or winter and if they have to dig or they can just snake the blockage out

So As a RIU member to another member i say make a plan of attack i bet you might be excited all about it but seriously re evaluate get a plan of attack and get your self into 100 time better set up
 
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domino7

domino7

Well-Known Member
2ANONYMOUS said:
seriously that kind of money ? make sure it has a pee hole can some one find me 5 of these places?? i will buy them right now .. links please .. I am also thinking the electrical should be good to plug in 6000 watts of total consumption ..
Matter of fact lets drop it to 2000 watts haha make dam sure you get wieners and marshmallows for that house fire ..
To the op i am not trying to be a smart ass, I am just telling you what you are 100 percent getting your self into
How old is this house ?? when was water / heater tank last changed and yes pending on year you might need a complete electrical upgrade and not sure how much it costs there but it can be a easy 3 - 5 -8 grand cause legally you cannot do it let alone possible plumbing issues ..
lets face it owning a home or purchasing a home is a persons biggest invest ever and its not cheap
I say save your money , rent this place see whats all wrong , old places old trees main sewer issues that again can be costly pending summer or winter and if they have to dig or they can just snake the blockage out

So As a RIU member to another member i say make a plan of attack i bet you might be excited all about it but seriously re evaluate get a plan of attack and get your self into 100 time better set up
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Are you very young, or just ignorant? You have no idea what you are talking about. You are wrong on virtually every point you tried to make here lol
 
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