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AF 15 dilema....

Started by gadzukes,

72 posts in this topic

PovertyRow

PovertyRow

Posted
Posted
The key to finding forclosed property is making sure there is no back taxes owed or liens on the property, other wise that is an out of pocket expense you have to pay upfront.

 

Long term real estate is likely the best value, find something cheap fix it up as you go, rent it to pay off the mortgage, then sell at a profit when the market is up. But it can be a money pit as well.I bought a Condo in 2003 and its now 2012 and we are stuck with it for as the market still sucks either we take a hit or hang on till the market improves eventually

 

AF 15 is likely easier to liquidate but if you bought it recently your not going to get a big bump at the moment. I bought an Af 15 recently I plan on hanging on to it longer term to see what happens.

 

Its likely easier to own a book than real estate all things factored in

Trust me the bump hes about to make is a lot if he sells it, my guess is 500% :shy:

 

I don't know about 500% but considering it was bought raw at a "great deal" and yielded a CGC 7.0 Universal? There is certainly potential for a good profit.

 

So if you sell it you have laid the foundation to say "See, hot girrrlfriend? See the profit we made? Comics are good. Buying them is better."

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Spiderphill

Spiderphill

Posted
Posted
The key to finding forclosed property is making sure there is no back taxes owed or liens on the property, other wise that is an out of pocket expense you have to pay upfront.

 

Long term real estate is likely the best value, find something cheap fix it up as you go, rent it to pay off the mortgage, then sell at a profit when the market is up. But it can be a money pit as well.I bought a Condo in 2003 and its now 2012 and we are stuck with it for as the market still sucks either we take a hit or hang on till the market improves eventually

 

AF 15 is likely easier to liquidate but if you bought it recently your not going to get a big bump at the moment. I bought an Af 15 recently I plan on hanging on to it longer term to see what happens.

 

Its likely easier to own a book than real estate all things factored in

Trust me the bump hes about to make is a lot if he sells it, my guess is 500% :shy:

 

I don't know about 500% but considering it was bought raw at a "great deal" and yielded a CGC 7.0 Universal? There is certainly potential for a good profit.

 

So if you sell it you have laid the foundation to say "See, hot girrrlfriend? See the profit we made? Comics are good. Buying them is better."

He had a thread about it before, it was raw slight(P). I think 500% is a safe bet.
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gadzukes

gadzukes

Posted
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AF 15 is likely easier to liquidate but if you bought it recently your not going to get a big bump at the moment. I bought an Af 15 recently I plan on hanging on to it longer term to see what happens.

 

Its likely easier to own a book than real estate all things factored in

 

We bought the AF15 for $6500 last year, I figure it's worth between $20,000 and $26,000 right now, so obviously we got an amazing deal.

 

$26,000 is a nice down payment on a foreclosure.

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Spiderphill

Spiderphill

Posted
Posted

AF 15 is likely easier to liquidate but if you bought it recently your not going to get a big bump at the moment. I bought an Af 15 recently I plan on hanging on to it longer term to see what happens.

 

Its likely easier to own a book than real estate all things factored in

 

We bought the AF15 for $6500 last year, I figure it's worth between $20,000 and $26,000 right now, so obviously we got an amazing deal.

 

$26,000 is a nice down payment on a foreclosure.

Highest graded UK copy, I wouldn't be surprised if it fetches 30k+ if its the lone copy on the census.
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comicwiz

comicwiz

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Posted
Ok, so I talked my gf into buying an AF15 with me last year as an investment for the future. It was a UK version but it looked great. We got a great deal on it and sent it in to CGC and it came back as a 7.0 Blue label, which is the highest graded UK (to me that means it's a very special comic, because at this point in CGCs existence you would think if someone had a better one it would have been slabbed by now).

 

So now my GF wants to buy a foreclosure property because of all the great deals we could get on foreclosures around our area. And then make money on it as a rental.

 

To put a down payment on a foreclosure we would probably have to sell the AF 15 7.0.

 

So my question to you guys is this..... if you were in my position, what would you do? Rental property or AF 15? Which is the best investment? What do you think?

 

P1050720.jpg

The question you have to ask is can you live in a comic??

 

Not sure about US foreclosures, but based on how it can take years to take possession of a foreclosed home, I'd ask that same question about the suggested method of acquiring the home.

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The Troll King

The Troll King

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Posted

hm

The book is signed by Stan Lee also. Interesting.

 

If you go with the rental property use a property manager. Managing your own rental property is a pain in the butt.

 

If the house is in a decent enough area that is somewhat touristy, put some cheap furnishings in it and list it on homeaway.com. You'll get far more money that way.

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DrWatson

DrWatson

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Not sure about US foreclosures, but based on how it can take years to take possession of a foreclosed home, I'd ask that same question about the suggested method of acquiring the home.

If the property is bank owned, you own it fee simple once the bank gives you a deed at closing. There is no "years" involved in taking possession. If you have cash to pay in full, it can be yours in as little as a day, depending on the speed of the closing agent.

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comicwiz

comicwiz

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Posted
Not sure about US foreclosures, but based on how it can take years to take possession of a foreclosed home, I'd ask that same question about the suggested method of acquiring the home.

If the property is bank owned, you own it fee simple once the bank gives you a deed at closing. There is no "years" involved in taking possession. If you have cash to pay in full, it can be yours in as little as a day, depending on the speed of the closing agent.

 

Power of sales yes. The scenarios I've heard play out in Canada (the province of Ontario specifically) regarding foreclosures are rarely if ever resolved quickly, and yes, it isnt even unusual to hear a deal falling apart over the long haul.

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comicwiz

comicwiz

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I spent some time researching this some time ago.

 

What is foreclosure?

"Foreclosure is a legal action that a moneylender can take if a person who borrowed money using a mortgage stops paying back the mortgage. Foreclosure allows the lender to take or sell the person's house by first getting a court's permission to do so."

 

Avoid Foreclosure

 

"How long it takes a lender to foreclose on your home, and the steps they must take to do so also varies by province. This education is focused on the province of Ontario. More information specific to all provinces can be found at www.canadaforeclosurelist.ca.

 

The power of sale process enables foreclosure proceedings to move much more quickly since there is minimal involvement from the courts and is used in 90%-99% of all foreclosures. There is an option, but power of sale is much faster and costs less."

 

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DR.X

DR.X

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Posted
The question you have to ask is can you live in a comic??

 

I think there was an episode of Gumby where he followed the Block Heads into a comic or book or something. So I would say its possible.

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oakman29

oakman29

Posted
Posted
The question you have to ask is can you live in a comic??

 

I think there was an episode of Gumby where he followed the Block Heads into a comic or book or something. So I would say its possible.

gumby.jpg

 

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InvstmntComcSuply

InvstmntComcSuply

Posted
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Do you have a lot of experience in:

Legal matters

Real estate valuations

Home repair

Contracting

Marketing your rental

Vetting prospective renters

Property management

Probably a dozen other major pitfalls

 

If you were buying it for yourself to live in, I would say go for it. But unless you have the expertise; becoming a new landlord can be a very expensive learning process that could easily cost you a lot more than an AF15.

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ivegotneatstuff

ivegotneatstuff

Posted
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My advice is:

 

Use the book as collateral for a 5 year short term loan of 15k or so

The interest on the short term loan will be offset by any appreciation of the book.

You might only get 50% of its value but I would argue for more as it is so liquid...and can be "redeemed" quickly.

Not sure that's enough for a down payment but....

 

That way you get to keep the book and obtain the real estate ..and your girlfriend will be stunned by your financial wizardry and want more comics

 

 

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