Buying A House ... Need to Raise Cash
ctf_error_coins
Posts: 15,433 ✭✭✭✭✭
Make an offer on one or more of my Amazing error coins and see if we can work a deal.
First time home buyer 
My website....
Ebay Store ....
2
Comments
I have forever always reinvested all my money into growing my businesses.
I never bought property because the business always came first.
Now is the time to step up to the plate and get my family a home of our own.
A feast for the eyes and imagination. Good luck. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Who needs housing?
COINS COINS COINS COINS !!
We're down 210K Zillow value since February 2022.
No biggie, like where we live & live in.
I was certain values would drop when cheap borrowed money ended.
There are 10 pages of foreclosures in recent local paper, which was quite weird to see couple days ago.
The better price, lowered money deals for you will happen now that % rates doubled since 2-22.
Pay 20% down to avoid endless Mortgage Insurance Premium monthly fee.
Happy House Shopping !
Oh yeah Chris, did you sell the 2000 Super Extreme MAD Cent from your website couple years ago ? Seemed to linger on your last page for a while, then poof, gone.
Thanks, Lindy
Lindy, thank you for the advice.
I sold the extreme MAD a few years ago. I remember Fred posting that was one of if not the nicest one he has seen on a coin.
Yes prices have come down a bit, but interest rates have shot up to around 6% for a 30 year loan so we want a very small loan or no loan at all.
My mother in law recently passed and we inherited half a house but have to buy my wife's brother out so we will have plenty of equity to begin with.
Negotiations still to come so this should be interesting.
That was the best MAD Cent I'd seen, and problem free too. I have a similar extreme MAD 25c so that lessened the need to add yours.
Sounds like you'll be done with your 1st home purchase soon. Very Nice !
Feds may raise rates again Feb 1st & March 21st. Clock is ticking
It is a very nice piece of property in California, but the house is a fixer-upper for sure.
Congrats on becoming a homeowner. Lots of benefit comes from owning a home, along with lots of responsibility.
If you and your wife are buying out your brother in law in a transaction that does not involve realtors, you, your wife and your brother in law (separately or together) should consider having someone (i.e. a real estate lawyer) on board to give guidance about the process and/or to prepare/review any contract.
There are many points to consider and if the three of you have no prior experience in real property transactions you may not be aware of things that need to be handled correctly (i.e. title insurance, escrow, the multiple ways that title can be held, home loans, homeowners insurance, transfer taxes, county property taxes and ways to avoid or minimize having the buy out from of your brother in law triggering a reassessment of your property by the County Assessor and an increase in the county property taxes for the property).
Good luck and when you complete the acquisition and start fixing the home up make sure you consider building out a "hobby room" along with a huge walk in closet for your better half.
I believe interest rates (and prices but to lesser extent) will start to go down over next 24 to 36 months. If so, you can refinance the loan at lower interest later if you have to borrow some now.
I’d like to refi our my PMI but my rate is ~3% so I’m kind of stuck with it —
This would be a great collection as a bundle, but also a lot of money. There are some really interesting pieces you've collected! Good luck on the sales and the house!
Side note, make sure you know what all the costs are going in, including property taxes and any hoa or other fees... Sewer gas electricity etc. A lot of people don't budget for those things and get strapped, and some locales have very expensive connection fees for some utilities.
https://www.the4thcoin.com
https://www.ebay.com/str/thefourthcoin
SanctionII ... Thank you very much, so much so that I printed your response out and handed it to my wife. She said she has no idea about all that, nor do I.
The executor of the trust has a real estate attorney in her office so we will ask all those questions. Once again thank you
The Master bedroom already has a big walk in closet
The amount of hobby space has grown substantially for all of us.
I always thought some rich guy could buy out my whole inventory or at least the upper end of it as a base of an awesome error coin collection.
Some guys spend a million or more on one coin. You could buy out my whole inventory of 800 certified coins for half that
Or sell it as a turnkey business complete with high end photos of the whole inventory. A no compete clause would be out of the question for any deal.
@ErrorsOnCoins
Here is my recommendation
First hire a realtor for a first time buyer/seller they are worth it. To avoid problems with the other beneficiary place a first right of refusal. That way you could buy it at the current market lever (fair to both parties)
Also if you had the cash that you would get from the sale of the property is this the house you would want to buy? If so then it would seem as nice opportunity
Sorry for your wife’s loss
Martin
Thank you all for your thoughts and tips.
I considered calling HA but learned that they will not use my photos but instead take horrible photos themselves. This is a deal breaker. So my coins will not be going to auction at HA.
In fact, I decided to sell some of my stock holdings and zero of my inventory. As of now I will keep all of my coins in inventory.
Thanks again, Chris
PS. I am still open to making some deals.
I chased foreclosures for a couple of years. Problem was, the banks will pay, what's left on the mortgage to buy the home, just so they can defend the loss. Never once did I find one of those dream homes for a bargain.
In fact I saw one place, not sell for months, by owner and then listed, at $50,000. Then the bank bought it at the sheriff's sale for a $60,000 bid and a month later, sold it for $40,000!
I'm happy though, I finally found an abandoned VA home that had gone through all that process and here I am since 2013, fixing. LOL Furnace breaks on an annual basis, roof leaks a little, but I got the rest of them. Doors have be adjusted, now they open and close and windows that were cracked or broken are replaced. Power had to be updated, AC breaks every couple years, older septic that has to be updated if this one fails.
I love it here!
I'm off to look at the eBay auctions.
Smart move on cashing out of some stocks.
If USA breaches debt limit before June 2023 the market will drop.
And in meantime you'll be all moved in.
Lots of epic error coinage moving thru HA & GC last few months.
Never gunna happen. There may be a "scare" tho which would be a stock buying opportunity.
Yes HA had some great coins and I picked up some really nice error coinage from hideous photographs. I love buying coins from really bad photographs. However, I would never sell a coin with horrible photos, makes zero sense. Exact opposite of my business plan.
You may want to contact your lender to see if you can remove PMI without refi. We just did. Our lender required an appraisal and because of increased value, and improvements(pool) we were able to remove PMI without refinancing and losing our 2.9% rate. Have owned my current home for 2 years.
My Ebay Store
Crunching numbers, Crunching numbers, Crunching numbers.
Numbers change ...
Recalculate, Recalculate, Recalculate
That's my life this week.
Here's the view from the second story of the house. Below is the grey building that is on and part of the property ...
Here is the view from the bottom of the property. The big house is on top of the property. The grey building is hiding behind the Hass Avacado tree.
Neat spot!
Santee?? La Mesa?? El Cajon??
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
If everything you have in your collection is for sale as you've stated over and over, how is buying a house changing your model?
I mean, it was all in your inventory and available anyway, right? We're you contemplating a fire sale of everything all at once and getting out?
Nice pics of the house, by the way. Good luck!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
You know the area for sure. We are on top of a hill in Lakeside overlooking Santee on the border of El Cajon.
Comes with 12 fruit bearing trees on the property.
More importantly, I live exactly 23 miles from the beach launch at La Jolla Shores.
I was running the numbers and looking at all scenarios and options. A "fire"sale was never an option but perhaps some 99 cent auctions would be in order. After crunching the numbers, I have decided not to force the sale of any coins. My business inventory will not be touched to make this happen. We are lucky to have quite a few options to fund this buy out.
Congrats! And 12 fruit trees to boot!!
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
Stocks going up today
Fed to hike interest rates this week
Housing is in a downtrend.
The trend is our friend.
Agreed, it will become a better more affordable time to buy.
Will make it easier for you to be mortgage free in future with lower entry price point.
Fed is crushing housing market by doubling rates.
Still last month 28% of US used house purchases were all cash. No loans necessary.
I guess my buying strike of one week is over.
I have bought 5 unique coin in the last few days.
I guess this now has turned into a wanted to buy cool error coin thread