I need a good investment idea

I'm in MA, and a good friend of mine is a mortgage broker. I'm not sure how it applies in NY, but I wouldn't imagine the loan process would be much different. I know getting a mortgage on a condo and a house is the same thing.

If you wanted to check into it, call a mortgage broker, and ask them what different programs they have.

Okay, thanks.

There was a local news story here this past week about being able to buy a house with 0% down, but apparently you have to have impeccable credit and you also have to buy some sort of insurance at 3.5%. (So why not just plunk down the 5% to begin with I ask!) Is that similar to how it is for you on the other side of the border?

Part of my interest is that I might be moving to the U.S. again. (That's a big "might" though.) And if I do, I intend on buying a place after I get settled in the job. I'm just wondering what sort of obstacles I might have to overcome.

Sorry I highjacked your threat kickycan, but I know you'll forgive me!

I've been looking at/ for houses, 5% down is standard, then you can pay more than that to have lower monthly payments/ pay less overall.

Ooooo!

I just thought of another business idea: Since smoking is no longer permitted in any bars and restaurants in New York, how about a boat? I buy a big boat, dock it on the shore, and restore it so it has all the comforts of a bar, but you can smoke, since it's not technically a bar or restaurant! I wonder if that would work.

Uh, liquor license?

What, you can't get a liquor license for a boat? Or would that technically make it a bar?

I think it would still fall under those laws though, because the damn public would have to be "protected". ****. F*cking fascists.

If you're going to buy a boat, you might as well turn it into a booze/gambling cruise....but that's an expeeeeeensive thing to buy. Ever look at boat prices?

No, but I know I don't have enough.

Homes on my street that sold for $150,000 twenty years ago now sell for around $800K. Figure that return out.

That's a big return...also, 20 years ago, 150K was probably a decent sized chunk for a house.

$150K still gets you a very big, new house in my neighborhood...........

It gets you a shed here.

Just bought a shed yesterday, it would go for a good size apartment in NYC 12'x16' with loft

You just described my $1225 a month apartment!

Settled for $3,800 (includes tax)

That was a proposed idea here....but it was not a workable idea though I cannot remember why. Maybe Ceili remembers...

*LOL*

It would buy (in $150,000 Canadian dollars) a modest home.