Where to buy?

**macandal** · 04-29-2008, 11:58 AM

First time poster. Hello all, I hope you can help me. I am a writer and I live in San Francisco, CA. Oftentimes I find myself looking for places to go away to write. I call them my writing vacations or retreats. Rather than spend time looking for places to go away, I thought it would be nice to have a place of my own to use for my needs. Because I would not be using this property for personal use all the time, I would also like to rent it out. It would be an investment as well as a vacation getaway for me. My ideal place would be Lake Tahoe because there you get what I call "the two seasons": the sun and the snow. Simply put, I cannot afford to own a property in the area, but, using Lake Tahoe as a base, where in the country can I find an affordable property that has some of the qualities I am looking for? In the end, now that I think about it, I am very open. Because I don't have lots of money to spend (or to qualify for), I have to be very open. In the end, I am looking for a n affordable vacation property that I can use for my needs and I can rent out to others. Thanks.

**Codythebest** · 04-29-2008, 12:43 PM

Great Smoky Mountain: a 1bedroom cabin for $199K bringing $37K gross year after year after year, which result of a NET of $6K IF you put no down (difficult as investment, therefore your NET will be higher) and take 4 times one week of vacation for yourself...

**macandal** · 04-29-2008, 02:18 PM

Cody, thanks for your answer. Where exactly in Great Smoky Mountain are you talking about? I'm a complete beginner at this, so, more information is greatly appreciated. Thanks. (Do you own property there?)

**nancyarora2020** · 06-09-2008, 04:42 AM

Buying a home can be complicated and frightening. You acquire a large debt and assume many new responsibilities. And in the back of your mind is that nagging question, “Did I get ripped off?”
I designed a list of few tips to help one make the best homebuying decision possible.

Look at the purchase as an investment.
Avoid short term loss. Most places have slow, steady home appreciation. You can make the most of your investment by buying in a neighborhood where home values are expected to appreciate.
Use a buyer’s agent. A buyer’s agent represents the buyer and is paid by the buyer to represent their interests. If you’re not a skilled negotiator, a buyer’s agent is probably the smart choice.
Choose agent wisely. Look for an agent experienced in working with buyers, with knowledge of the neighborhood you are considering and without a reputation for being “pushy.
Carefully inspect the home. Learn as much as possible about evaluating the condition of a home.
Watch interest rates. The lower the interest rates, the bigger mortgage a buyer can afford. An asking price may sound too high, but at a lower interest rate, you might be able to qualify for a loan and afford the payments.
Study, study, study. These tips are only the beginning. You’ll need to know a lot more if you want to make wise decisions. Read articles on homebuying, financing, negotiating, home inspection, and real estate contracts.