Buying/Renting General

In what time frame are you planning on buying?
I think that sounds a bit out of your price range, and you're kind of putting all of your eggs into this basket. What makes the 500k house so valuable to you?

that honestly depends on the seller, their agent, and your agent. i saw some decent looking houses that sold for 70-80% of the list price. i think 90-95% is the typical accepted offer unless the house has been sitting for sale for a really long time.

Awesome.

A few years.. and being good with money i can see myself saving pretty well.

I just looked at decent sized houses with in law suites... 450 to 500 seems to be gopd quality range.

Excellent, that's helpful to know

Depends on the market. In alot of neighborhoods in LA it's asking price or GTFO. Some more peripheral areas you could pull down a property 10-20% under ask.

If you're looking for a seriously motivated seller, you can go to your county recorders office and get a copy of the NOD, (Notice of default), list and see all the homes that are up for foreclosure. Have your agent or yourself contact the owners and see if you can get a purchase deal in place before the bank takes the home from under them.

Smart.

So what would you guys say one should pay on a mortgage monthly?
lets say i'm looking at 450k
What is the minimum you would put down, and what would you try to pay monthly?

You would have to budget hard but you could make it work, try bringing in a good friend or family member to rent a room , a 500k house in houston is like 1800-2000/ month just for mortgage

Iv talked to a few old rich cucks who buy investment properties then do some fine remodeling, ultimately air b&bing for 800+/night, i always ask them if they think the market will crash they always shake their head no

right right, as echoed above,

lets say I bring in my GF and she's making 50k, and my parents retirement is brining in 40k.. and i'm making 60k.
seems pretty doable, if we're putting out 2200 a month on mortgage. maybe 600 a month in taxes..

I agree with the real estate guy above though, I think the big problem is that people are going to start being much more poor in general, buying power is gonna drop, house sales will drop.

Yes, 500k is out of your price range

For 500k you're going to want 100k for down payment (realistically 120k for unseen repairs) and you will be looking at around 3k monthly in expenses (assuming no HOA). So you would want a take home pay of about 6k after all liabilities are taken care of. It's doable with less money but these general guidelines will keep you in the ballpark so you don't over extend too much