You guys...35000 over asking price?
Brace yourselves for the folks spooked by our foreign buyers' tax. I bet it will become even more fun.
Home owner monkeys
- Thread starter wannabeabonedoc
- Start date
Supposedly a significant portion of luxury home buyers are foreign investors. Thankfully they don't seem as interested in the expensive little hovels most of us live in. Much riskier renting to us poors.
However, now that I am in the market, Huānyíng.
Or they just buy any old house and let it rot into the ground rather than rent it to anyone.
There's A LOT of chinese investment into real estate in greater Boston. Rich parents who plan to send kids to expensive schools here in 10-15 years are investing in rich 'hoods, and they rent them to chinese immigrants who want their kids in the best public schools.
/coolstorybro
Shrewd investment strategy. Exactly what I would do if I had some extra folding money.
House in question went on the market right after we bought ours in 04. I was kind of pissed at the time, it's almost exactly our house but with a basement, which I would have loved given I was working nights at the time. But, it turns out that except for the house in question, no house on my side of the street has a basement because there is some sort of underground stream/high water table. It's all crawl spaces and sump pumps. Sellers at the time decided the best way to sell the house was to finish/add a couple rooms to the basement, all un-permited and FSM only knows if they are up to code. The basement has flooded pretty significantly at least twice during wet summers in the time we've been here. I don't know if insurance claims have been made or not, but that seems to me like something an adjuster might be interested in.
Paging @mandown, mandown to the white courtesy phone.......Business opportunity on aisle 3.
A dude I work with who is fresh out of college and from China bought a nice new $650K house last year. A few of us were discussing mortgages and interest rates. He asked us what a mortgage was. Clearly he was given the coin to buy the place straight up. What really confuses me is why he is working in this dump if he has that kind of money? The worst part is instead of buying a place in a desirable neighborhood he picked up a mini-mansion in suburban strip store hell because he wanted to be close to the mall.
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Previous owners of my place in VA finished half of the basement with no permit, strangely the half with no windows. I don't know what they were trying to do with the space, might have made for a good home theater. Anyway as it was just a random room in the basement I simply listed it as unfinished space per the tax assessment.
Unknown to me until my last week in the house they had removed a support post under the main beam running along the house to create more open space. it never posed a problem for me but considering I lived in rural VA the odds that a morbidly obese family moving in was pretty good. I re-installed the beam prior to selling as a good inspector should have caught it. I clearly did not have a good inspector when I bought the house.
It drives me crazy, but you see it around here. Less so now.
a lot of very well off parents make their kids have some manner of career as a stipulation for their inheritance. guy i used to work for was one of these. he was generally mid 20's party dude. parents told him to do something if he wanted his inheritance. he now operates one of the biggest bike shops in upstate NY.
We are seeing an interesting shift, aging baby boomers selling their 8000 sq foot things now that their kids are all grown up. they are buying up the last dumps in town and building high end on the scraped lots to be in town. not much left here for under a million...
Shed:30
#49dicks
Exactly, I just don't know why he is working here. He is really into photography and actually did his graduate work in optics. He has the freedom to pursue a more interesting career. This place isn't very rewarding, except for when payday swings around. Perhaps he is just lazy, he can do well here with minimal effort.
get him a mountain bike and tell him to sign up on ridemonkey
It's the career path I've chosen. So far, so good.get him a mountain bike and tell him to sign up on ridemonkey
He is a roadie. Also has a folding bike that he rides into work on with a full high-viz getup including helmet cover. He doesn't commute to work, just rides a bike from his car to his desk, I guess that confirms the lazy part.get him a mountain bike and tell him to sign up on ridemonkey
pics of him riding in the building or stfu
I can actually lose my job for taking pictures without a good business reason. Will need to get him to pose with a good business reason.
take him for a bar ride.
have you seen any more of your inlaws naked?
Great timing for inspecting ice dams and frozen pipes.
They decorated their home like a turkish prison.
House is flawless (so far).Great timing for inspecting ice dams and frozen pipes.
Granted, it was built 4 years ago. Not old enough to start falling apart yet. That'll start when kid #2 comes I'm sure.
Negative
KILL LIST
Not yet....next couple years.
Already got the East Coast Rox© out front!
There are some pretty solid dirt jumps nearby
I was once a foreign student in the states, as my sisters, and probably like my children will be.
I think there are 2 "problems" for well-off families in developing nations for which the strategy you describe is the default solution.
1) mom/dad make good coin in their 30-40s and keep their kids inside a bubble (even if you dont want to, you have to.... pretty much)... kids grow and get shipped to the US/Europe for college.
just now at age 34 I became to understand, under secret hopes the kids dont actually come back.
the problem is kids come back because they miss family/friends/country... fast forward 10-15 years, kids (like myself now) regret the decision once they face the harsh reality of living in a rough society. money/survival are no longer the main problem, the lack of a mature/safe society in which to raise a family becomes the problem. this is the part were grandkids "have" to be kept in bubbles again, and the cycle continues.
2) once the "money" part of the problem is solved for a family... then next huge "problem" is how to pass this knowledge to your kids and not raising slackers and having your grandkids live off you; or (and this has to be the most feared outcome in life) to have your kids do nothing but wait for you to die to collect an inheritance.
having your kids "figure out" adult life (by having a traditional career) on their own in a different country; and buying them a home in the US are both a long term bet to strenghten the position and hope the kid remains in the US and does not become a slacker.
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you're in ..... Squamish? is that right?