Berkeley CSUA MOTD:Entry 44394
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2025/07/09 [General] UID:1000 Activity:popular
7/9     

2006/9/15-19 [Reference/Tax] UID:44394 Activity:nil
9/15    Has anyone bought foreclosure properties? How about tax sale
        properties where the government sells the property to cover
        taxes not paid but not the amount of remaining loan?
        \_ I have not.  My (very distant) understanding of it is that there
           are so many people out there bidding on these properties trying to
           get rich quick that you're really unlikely to get a good deal
           on one.
           \_ I've bought HUD repos in LA, they were more numerous there.  I
              don't know that this area had any real supply.  In my experience
              the deals went away not because of get-rich-quickers, but because
              home buyers started showing up and they were willing to pay much
              closer to the actual market value of the home, which i was not
                                                -crebbs
              closer to the actual market value of the house.  -crebbs
              \_ Most people don't want HUD homes, not even for investments.
                 Like with anything else, you can get a good deal if you
                 spend the time looking. You will be up against a lot of
                 pros with a lot of cash who will know what they are doing.
                 When I found something worthwhile I didn't get it. If you
                 persevere you ultimately will, though. Don't think that
                 it will be easy, though. I heard you are better off buying
                 *before* it is foreclosed on - when the person is in
                 trouble. You can give them some cash to solve their
                 problems in exchange for a great deal on the house. The
                 hard part is identifying those people in advance, although
                 there are lists of people behind on their mortgage. You'd
                 have to cold call or send flyers, though.
2025/07/09 [General] UID:1000 Activity:popular
7/9     

You may also be interested in these entries...
2013/9/2-11/7 [Reference/Tax] UID:54736 Activity:nil
9/2     I'm young, and stupid. Does the IRS want reporting on 401K, IRA,
        Roth 401k/IRA? I am decades from retiring, and no plan to withdraw
        anything. But, I just realized that I haven't reported any of my
        retirement plans to IRS for several years, now wondering if I'm
        in big shit...
        \_ The account custodian (bank/brokerage/mutual fund) reports it to
	...
2012/11/5-12/4 [Politics/Domestic/Election, Reference/Tax] UID:54521 Activity:nil
11/5    "Tax Policy Center in Spotlight for Its Romney Study":
        http://www.csua.org/u/y7m (finance.yahoo.com)
        'A small nonpartisan research center operated by professed "geeks" ...
        found, in short, that Mr. Romney could not keep all of the promises he
        had made on individual tax reform ....  It concluded that Mr. Romney's
        plan, on its face, would cut taxes for rich families and raise them
	...
2012/3/5-26 [Reference/Tax] UID:54327 Activity:nil
3/5     My dad is retired and has no income. My income tax bracket is
        pretty high. If I open up a joint high interest CD account with
        him and the INT-1099 comes, is it possible to file it under him
        100% to take advantage of the lower tax?
        \_ IRS says the interest is allocated according to who allocated
           the assets. Do you think it will generate enough interest to
	...
2012/3/7-26 [Reference/Tax] UID:54331 Activity:nil
3/7     "Michigan woman still collecting food stamps after winning $1 million
        lottery"
        http://www.csua.org/u/vp3 (news.yahoo.com)
        `"I feel that it's OK because I mean, I have no income and I have
        bills to pay," she said. "I have two houses."'
        \_ My first reaction was pretty hostile to her, but then, I
	...
2011/4/17-7/30 [Politics/Domestic/California, Reference/Tax] UID:54087 Activity:nil
4/17    http://news.yahoo.com/s/ap/us_no_taxes
        "The super rich pay a lot less taxes than they did a couple of decades
        ago, and nearly half of U.S. households pay no income taxes at all."
        And people are still complaining about taxes being too high.
        \_ yeah but only 3 out of the 5 people who aren't rich but complain
           are actually counted.
	...