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Old 06-01-2011, 03:08 AM
 
1 posts, read 1,732 times
Reputation: 10

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Hey everybody!

I need your help.

I have 70k cash to buy a townhouse in miami, fl i need a good area and i need to closed the deal as soon as possible, by july 5... Any help?? Will somebody please tell me good areas in miami? Safe, i have 2 kids, not working right now, and i would prefer gated!

Pd. The money is from a car accident where i had to go for a back surgery.
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Old 06-01-2011, 10:20 AM
 
Location: Pembroke Pines, FL
388 posts, read 525,995 times
Reputation: 99
So let me get this straight, you have 70K in cash and want to buy a townhome and you have no job?

That is a nice down payment but if you want something decent you may need to still finance a portion of the mortgage. And even afterwards, you are still responsible for property taxes, insurance, utilities, cable etc.

How are you going to pay for those?

I say you rent untill you find yourself a decent job.
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Old 06-01-2011, 10:49 AM
 
Location: Land Of Moose, Blueberries, and Chickadees
10,263 posts, read 5,607,382 times
Reputation: 13009
I second what Jimbo said. I'd put most of that money in to the stock market and sit on the rest. Rent, discover Miami, find where you like the best. By that time, you should have a well paying job and can then work on buying a townhouse.

Miami is expensive. Very expensive. So, you have a good down payment for a townhouse. Now what? With no work, no income, you'll lose that townhome in a very short while.

You have the money, know it means you have a path to freedom but don't go charging down that path, wildly. Slowly stroll along, take your time, stop and smell the dang roses and make the right choice AFTER you have experienced things along the way and found gainful employment.

You are looking to set yourself up for failure if you do it the way you are talking about and if you had to have back surgery after a car accident, clearly you "earned" that money. (Better to have your health but it is what it is now.) Why throw it away on a hasty decision with no back up?
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Old 06-01-2011, 11:13 AM
 
3,653 posts, read 2,313,835 times
Reputation: 1117
Quote:
Originally Posted by gabita18 View Post
Hey everybody!

I need your help.

I have 70k cash to buy a townhouse in miami, fl i need a good area and i need to closed the deal as soon as possible, by july 5... Any help?? Will somebody please tell me good areas in miami? Safe, i have 2 kids, not working right now, and i would prefer gated!

Pd. The money is from a car accident where i had to go for a back surgery.

Can we be friends ? Just kidding,I think Gatormama gave some good advice.
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Old 06-01-2011, 10:02 PM
 
2,217 posts, read 2,285,657 times
Reputation: 530
these people who come into this forum who want all the answers handed to them without doing any research into the trillion times the question was asked before in the forum. please help me! i cant search the forum myself! i'm helpless!
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Old 06-02-2011, 06:53 AM
 
44 posts, read 40,004 times
Reputation: 56
Quote:
Originally Posted by cixcell View Post
these people who come into this forum who want all the answers handed to them without doing any research into the trillion times the question was asked before in the forum. please help me! i cant search the forum myself! i'm helpless!
rude post
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Old 06-02-2011, 07:16 AM
 
Location: Somewhere, out there
2,178 posts, read 2,581,625 times
Reputation: 1012
I have to agree with the majority of what you've been told by others already.

Townhouse also means HOMEOWNERS ASSOCIATION FEES! Can't forget about those either and those can be expensive. My EX lives in a 1 b/r condo in Kendall and there's nothing in the way of yard (nothing they upkeep) or ammenities and he pays around $130 a month!

Don't forget as well, if you are planning on driving in Miami - cost of auto insurance. No idea where you are coming from, but we just moved to another state and my car insurance went from $1700 a yr for one old 2005 car to $540 a year in our new state.

Not working right now? Hope to? If so, I hope you speak Spanish! It's hard enough to get a job here as it is, but not being bilingual makes it even harder.

I would heed the warning of others. People ask questions and then don't want to listen, come here, find out many were right on what they told them. They were forewarned, and then don't know what to do since they get themselves in a huge mess. Try to avoid this happening to you AND your kids!

Read the forums here and see just how many people have tried to do what you've done, and regretted it!

Y
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Old 06-02-2011, 10:09 AM
 
Location: Pembroke Pines, FL
388 posts, read 525,995 times
Reputation: 99
Quote:
Originally Posted by Enriqueta View Post
rude post
But true...I agree with cixcell
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Old 06-28-2012, 10:22 PM
 
2 posts, read 2,096 times
Reputation: 10
I can understand you and others who have much experience, or good intellectual instincts for these forums, blogs, etc., but I have to tell you, I am 61 and a very very experienced IT person, but due to my huge responsibilities with my job, have very little time to surf the net and experience or learn how to do all these things... so maybe it's easy for you... but I have to tell you, it's been a challenge to me, to learn how to follow the "thread" and get into a "thread". I hope everyone realizes that just because it's a snap for you, may not be easy for someone else, and what's easy for me in all the technology knowledge I have, may totally confuse you... I've been humbled by what my clients know & I have not yet had time to experience on internet, many programs out there... there just isn't any time left over after working on all the hardware, software, cell phones, printers, pc's and macs, servers, telephones & all the lines to make everything work perfectly... So, please be patient with the inexperienced (or lazy maybe)
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Old 06-29-2012, 04:06 PM
 
Location: Pembroke Pines, FL
388 posts, read 525,995 times
Reputation: 99
Well I'm in IT also and I sure get it.

Just messing around with you. (Not the IT part) It's not for everyone I know. But the main problem is that the OP nade it seem as if she did not think of all the other expenses that come with owning property.
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