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My boyfriend wants to buy land to build houses. How much can he afford? end our debate?

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  • My boyfriend wants to buy land to build houses. How much can he afford? end our debate?


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Answer #1 | 22/12 2013 22:53
I think you are right but it doesn't matter what you say or I say it matters what the bank says. So let him continue doing as he pleases and when he decides to go to the bank he will then know you are right.
Positive: 23 %
Answer #2 | 22/12 2013 23:05
You want to cure him of this idea? Simple... ask him to find out what it costs to get the building permits, etc. If you really want to scare him straight have him start with El Dorado County.
Positive: 17 %
Answer #3 | 22/12 2013 23:44
I think your boyfriend is bsing you..... just to try to "impress" you The $300,000 in stocks ALWAYS fluctuate ; One day they are worth liquid gold next day they can be worth a bag of dirt No debt ? - He just got a house for $250,000 and paid the downpayment with interest he will have debt ... Nevertheless I dont think he would even qualify with a income of $120,000 as you stated UNLESS he has near perfect credit and references Your idea is practical however his is way off
Positive: 10 %
Answer #4 | 23/12 2013 00:10
It's his money, and you have no say.
Positive: 10 %
Answer #5 | 23/12 2013 06:17
The smart thing to do would be to work for a home builder and watch what they do for a year or more. If he moves forward and does this without any experience- I would keep a diary of the issues that come up and use it for a book or TV show- it will be a lot of fun for everyone but him and any financial backer or creditor he has. I strongly suggest that you do not get involved in any way.
Positive: 10 %
Answer #6 | 23/12 2013 08:22
he is preparing to invest the very old fashioned way. suggest to him, these two things; a; buy BK or county tax lost properties b; enter accounts receivable financing can guide on both...or either do not build yet, too much inventory still sits empty. IT is way cheaper to pick up a dead house and rehab it. ---
Positive: 10 %
Answer #7 | 23/12 2013 13:04
Your boy friend needs to go to his bank and ask this question.
Positive: 10 %

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