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Re: Financing the Purchase of Land

I am not a real estate professional but I believe there are agreements like an option. This is how developers going about acquiring an entire city block over the decades. You might approach the landowner and ask if he is interested in selling. If not, then ask if you can have the first option to buy...
by bkslainte
Mon Apr 14, 2014 3:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financing the Purchase of Land
Replies: 6
Views: 570

Re: Wasting money on rent or buy in California

Why are you moving to the Bay Area? Is it a permanent move? Do you like the Bay area, have you ever been there before? I would rent at least for the first year and get an idea of which neighborhoods you like before you purchase. I am a Bay Area resident, there are many neighborhoods and I would at l...
by bkslainte
Fri Apr 11, 2014 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wasting money on rent or buy in California
Replies: 20
Views: 2187

Re: Wait for better tenant application or approve the one I

Why do you want to do a 2 year lease? Is that standard practice in your area/region?

I think 1 year would be standard and then it goes month to month after that. I have had multiple leases with tenants but never asked them to sign up for 2 years.
by bkslainte
Wed Apr 09, 2014 6:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wait for better tenant application or approve the one I have
Replies: 27
Views: 1513

Re: Contributing to prior year's Roth

The contribution amount is limited to $5,500 per year($6,500 if age 50 and above) Many(especially on this forum) would love to contribute much more. So that might be the benefit or catch you mention. You only get to contribute $5,500 per year and once the year is gone so is the opportunity to contri...
by bkslainte
Fri Apr 04, 2014 6:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contributing to prior year's Roth
Replies: 23
Views: 1181

Re: Tax Filing Extension

3. I don't worry about getting a refund because I got my refund back in January without filing taxes as I do every year.


Hi livesoft,

Can you explain this, how did you do this?

Thanks,
Brian
by bkslainte
Thu Apr 03, 2014 4:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Filing Extension
Replies: 11
Views: 331

Re: Advice on what to do with proceeds from second home sale

Hello, You seem to be doing very well, we should be asking you for help :) However, here are a few things that would go into my thought process on the situation. Does the net amount of 1,075,000 account for taxes? You don't mention if this includes a gain on the property or not. However, I would mak...
by bkslainte
Tue Apr 01, 2014 11:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice on what to do with proceeds from second home sale
Replies: 8
Views: 948

Re: investment property pros and cons?

Just curious, but can you share the reasons for wanting to buy in Berkeley? As others have mentioned, there are many regulations in Berkeley regarding rental housing. I would find these regulations difficult to navigate if you are a first time property owner. If you intend to turn a profit on the pr...
by bkslainte
Mon Mar 31, 2014 2:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: investment property pros and cons?
Replies: 13
Views: 1095

Re: Walton 4 Land Investment

No experience with them. However, statements like this allows them the ability to withstand any economic cycle by structuring the investment for safety always raise red flags for me. I would rather that companies came out and said. We will make money in good times and lose money in bad times. Over t...
by bkslainte
Wed Feb 26, 2014 2:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Walton 4 Land Investment
Replies: 9
Views: 1017

Re: advice on new budget and possible home purchase

Hello, Congrats, that is an impressive monthly saving and great incomes. Just a few thoughts/questions. How stable are your jobs at those income levels? Since you only started 6 months ago, are those salaries sent to continue/increase? Why do you want to move and how far away is that location? It se...
by bkslainte
Wed Feb 26, 2014 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: advice on new budget and possible home purchase
Replies: 8
Views: 490

Re: Layover in Amsterdam

I've had the pleasure of living in Amsterdam twice in my life. A few suggestions.. If you are brave and up for it, rent a bike for the 3 days. It is a great way to get around and see the place. If you like beer, check out Cafe Gollem. A very gezellig(cozy bar) with a great selection of Belgian/Dutch...
by bkslainte
Wed Feb 26, 2014 12:52 pm
 
Forum: Personal Consumer Issues
Topic: Layover in Amsterdam
Replies: 23
Views: 1040

Re: Reinvesting equity in existing rental property

Yes, you should be able to get a mortgage on the rental property. How long has it been rented out? Lenders usually like to see 12-18 months of rental history. Also, most lenders offer the best rates at a maximum of 60-70% loan to value rather than 80% as with residential mortgages.
by bkslainte
Tue Feb 25, 2014 7:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting equity in existing rental property
Replies: 3
Views: 196

Re: $16 BILLION for WhatsApp?!?!?!

I just saw that and my jaw dropped a bit. I had to go back and check the purchase price for Instagram because I remember being amazed at the purchase price when it happened...but that was peanuts, only 1 billion.
by bkslainte
Wed Feb 19, 2014 6:32 pm
 
Forum: Investing - Theory, News & General
Topic: $16 Billion for WhatsApp?!?!?!
Replies: 51
Views: 3707

Re: Could use advice investing for the first time

Sorry, I hope I didn't confuse you with the 1031 exchange. You should google this to find out if it could apply in your situation. I brought up the 1031 exchange since I thought you were alluding to this type of exchange in a prior post. The 1031 exchange mechanism is mostly used with rental propert...
by bkslainte
Wed Feb 19, 2014 3:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1025

Re: Could use advice investing for the first time

Also, is there any way to minimize taxes if we were to net a profit over $500,000 on the sale of a primary residence? Could you invest in another piece of real estate to avoid that? Hypothetical scenario, but if you make $1M on the sale of your house, can you buy a $500,000 home and use the $500,00...
by bkslainte
Wed Feb 19, 2014 12:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1025

Re: Could use advice investing for the first time

Hi Sam, I think you are being too optimistic an early retirement of 2024 although it all depends on the annual expenses. It sounds like most of this plan is made up of home equity and increases in home value. You are probably aware already but the tax free benefits of selling a home cap out at 500K ...
by bkslainte
Tue Feb 18, 2014 8:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1025

Re: 36 year old looking for advice

Hello, Welcome to the board. I usually don't comment on the portfolio questions(there are plenty of great bogleheads who do a great job of disecting funds and making recommendations) However, no one has commented yet so I wanted to give this thread a bump and add a few of my comments The good news i...
by bkslainte
Fri Feb 07, 2014 8:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: 36 year old looking for advice
Replies: 12
Views: 1491

Re: Credit Card Bonuses

And where are the links to them?


I ususally check slickdeals.net under the "Money" section every few months to see if any of the offers are worthwhile. I am sure that checking some frequent flyer forums also showcase the best deals.
by bkslainte
Tue Dec 31, 2013 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Card Bonuses
Replies: 67
Views: 4057

Re: Help me be fair to my Real Estate Agent

I think you owe them compensation on the transaction they helped you with, which was the lot sale.

That's the highs and lows of being a commission based real estate agent. Sometimes people end up buying, sometimes they don't.
by bkslainte
Fri Dec 06, 2013 2:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help me be fair to my Real Estate Agent
Replies: 15
Views: 912

Re: Potential Real Estate Partnership: Good or Bad Idea?

He needs my investment because he does multiple deals. He buys in all cash and then invests only in the down payment and moves on to the next one. I did wonder how he's coming up with new money for each partnership(he said he did 10 in arizona and has done a few already in TX). This would concern m...
by bkslainte
Thu Dec 05, 2013 1:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 988

Re: Potential Real Estate Partnership: Good or Bad Idea?

There are a few red flags that I see in this scenario. It sounds like you live in San Diego and the friend of the friend lives in Texas so the properties would be purchased in Texas? How much do you know about that real estate market? Would you ever visit the properties? How would you know that the ...
by bkslainte
Tue Dec 03, 2013 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 988

Re: I found a huge error in S&P 500 reported earnings today

Thank you for posting this.

Can you explain a bit more how this process works?

I mean, are they tracking these numbers only in Excel? And the entire world pulls their numbers from this Exel spreadsheet? This just seems very "London Whale-esque" to me.
by bkslainte
Fri Nov 15, 2013 7:50 pm
 
Forum: Investing - Theory, News & General
Topic: I found a huge error in S&P 500 reported earnings today
Replies: 14
Views: 1960

Re: large Credit availability via multiple home purchases?

The bank/mortgage company is going to ask for a list of all debt payments. If you income can cover all debt payments then they would probably cover the loans. However, this probably breaks down at the second loan for most people/incomes. The banks are either going to ask for income that can cover ev...
by bkslainte
Fri Nov 15, 2013 2:56 am
 
Forum: Personal Finance (Not Investing)
Topic: large Credit availability via multiple home purchases?
Replies: 8
Views: 586

Re: Taxable invest vs. Mortgage w/cash on the sidelines

There seem to be many recent threads on the forum about paying down the mortgage versus investing. You might look at a few of those threads for those golden nuggets of information for which this board is invaluable. First off, you seem to be doing great for your age in terms of saving rates and asse...
by bkslainte
Mon Nov 11, 2013 9:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxable invest vs. Mortgage w/cash on the sidelines
Replies: 5
Views: 485

Re: Downsizing, rent out our house or sell it?

For the cap rate, you should divide by the purchase price of 215,000 rather than 215,000 minus the 165,000. Also, as others have mentioned you should include insurance,property taxes and any local ordinance taxes that might be in place for rentals(ie business taxes, residency taxes, etc.) You can al...
by bkslainte
Mon Nov 04, 2013 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Downsizing, rent out our house or sell it?
Replies: 17
Views: 1491

Re: Ethical Fiancial Advice

How can I find professional financial advice without someone trying to exploit the financial relationship? You have come to the right place, you can find all you need at bogleheads.org. As you have already experienced, nobody is going to care as much about your financial well being as yourself. Tak...
by bkslainte
Wed Oct 30, 2013 2:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Ethical Financial Advice
Replies: 14
Views: 1305

Re: Vanguard 529 plan expense ratio reductions

Thanks for posting this. I have 2 529 Plans with Vanguard and recently responded to a questionairre on the Vanguard 529 plan. Most of my feedback was to lower expense ratios on the funds. I have no idea why the 529 Vanguard plan options have to have higher expense ratios than the same funds outside ...
by bkslainte
Tue Oct 29, 2013 2:13 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard 529 plan expense ratio reductions
Replies: 6
Views: 749

Re: Social Security Claiming Decision Psychology

I opened this link thinking that you were annoucing a new course at the university :)
by bkslainte
Mon Oct 28, 2013 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming Decision Psychology
Replies: 10
Views: 1027

Re: Home Sale in 2013 or 2014?

You are probably referring to the 3.8% surcharge on investment income. This would apply to home sales after the 250K/500K(married) exclusion for a primary home sale. And it only applies to investment income above 250K although you would have to factor in various other sources for that limit. So, I t...
by bkslainte
Mon Oct 28, 2013 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Sale in 2013 or 2014?
Replies: 8
Views: 809

Re: Paul Merriman

Hi Paul,
Welcome to the forum and thank you for your insightful articles.

Most of my portfolio is based on an article you wrote for Marketwatch, Best Mutual Funds to own in 2003.

I have done very well with this, thanks again!

Brian
by bkslainte
Fri Oct 25, 2013 12:34 pm
 
Forum: Investing - Theory, News & General
Topic: Paul Merriman
Replies: 53
Views: 4916

Re: Please advise. Retitle I Bonds for Trust or leave them o

Here is my experience, hopefully others with more expertise can confirm this practice. My wife and I had a trust done in CA this year. The way it was explained to us is that best practice was to retitle everything in the trust name and open everything new/take property in the trust name moving forwa...
by bkslainte
Tue Oct 22, 2013 1:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Please advise. Retitle I Bonds for Trust or leave them out?
Replies: 14
Views: 1182

Re: Best Sofa with Young Children

Make sure the pillows are sturdy enough for building forts.
by bkslainte
Tue Oct 22, 2013 10:55 am
 
Forum: Personal Consumer Issues
Topic: Best Sofa with Young Children
Replies: 38
Views: 1992

Re: Home Affordability

We have about $10k in the bank You might not want to hear this but I don't think that you are ready to buy a home yet. It looks like you are great at planning and I would suggest waiting a few years. First, I feel the tax deductions on home ownership are overstated. Plus, they will still be there w...
by bkslainte
Thu Oct 17, 2013 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 77
Views: 4428

Re: How to prosyletize to a lazy friend

Invite him over for beer and watch "The Retirement Gamble" together. Buy expensive beer
by bkslainte
Wed Oct 16, 2013 7:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to prosyletize to a lazy friend
Replies: 27
Views: 2361

Re: Home Affordability

It looks like you will be putting less than 20% down, would you need to add PMI into the calculation?

Also, I would add some start up expenses for the first few years for furniture, repairs, appliances,etc. These expenses seem to add up quickly during the first few years of ownership.
by bkslainte
Tue Oct 15, 2013 4:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 77
Views: 4428

Re: Real Estate Agent Commission /SF Bay Area / Going Rate

If you can find an agent to do it for 4% and price is the only consideration, I would say that's a great rate. I have not heard of naming the splits between the buying/selling agent as usually the listing agreement has 1 rate and its negotiated betweeen the selling/listing agent. I listed with an ag...
by bkslainte
Thu Oct 10, 2013 8:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Agent Commission /SF Bay Area / Going Rate
Replies: 5
Views: 1030

Re: Portfolio help - company managed 401k

So based off your derivatives comment, would you suggest I max out my ROTH IRA before trying to max out 401k each year? Should I attempt to get my wife to contribute more to some of the TIAA cref funds and hold off on my 401K? I would probably steer more funds towards TIAA cref funds. On the positi...
by bkslainte
Wed Oct 09, 2013 1:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help - company managed 401k
Replies: 8
Views: 611

Re: No need to convert entire IRA for backdoor ROTH?

rollover IRA with Vanguard (approx $80k)


Where did this rollover IRA money originate? I assume that this came from pretax contributions to a 401K or similar. This is what I was referring to with tax implications as the 80K will be taken into the tax calculation.
by bkslainte
Tue Oct 08, 2013 3:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: No need to convert entire IRA for backdoor ROTH?
Replies: 25
Views: 1146

Re: No need to convert entire IRA for backdoor ROTH?

You are correct, there would be tax consequences to a backdoor Roth IRA since you have the rollover IRA. Check out the Wiki article on Backdoor Roth IRAs. Here' s a snippet CautionIf you have any other (non-Roth) IRAs, the taxable portion of any conversion you make is prorated over all your IRAs; yo...
by bkslainte
Tue Oct 08, 2013 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: No need to convert entire IRA for backdoor ROTH?
Replies: 25
Views: 1146

Re: Portfolio help - company managed 401k

His company managed 401k: 14% (investment company that manages other individual's and company's money-hence low expense ratio) note: no options in 401k, but company matches 50%, no max or cap currently Also, right now this 401k is: 40% is in cash 13% is in inverse bond index 3% in corporate bond 44...
by bkslainte
Tue Oct 08, 2013 2:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help - company managed 401k
Replies: 8
Views: 611

Re: newbie - windfall taxable portfolio advice, help!

4. I'm generally a fan of LSI vs DCA but would most consider LSI a bad idea right now with so much uncertainty in the market this month? What is your investing experience? How would you feel if the market went down 20-30%? Based on the information you provided, you have about 100K invested in the m...
by bkslainte
Tue Oct 08, 2013 12:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: newbie - windfall taxable portfolio advice, help!
Replies: 17
Views: 1349

Re: Cap gain in MM fund?

I believe there was a thread/webpage link on this a few days ago on this site. And I think the end conclusion was that this is not common and the reason it happened is because the investing environment/interest rate environment was so bad that the managers decided to return the money in the form of ...
by bkslainte
Mon Oct 07, 2013 6:40 pm
 
Forum: Investing - Theory, News & General
Topic: Cap gain in MM fund?
Replies: 3
Views: 360

Re: Landlord will not return rent deposit check ($1500)

You should absolutely go after this. Local/state ordinances might differ so due some research on what the landlord's obligations are. If they are in violation, small claims court might the be option.
by bkslainte
Tue Sep 24, 2013 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Landlord will not return rent deposit check ($1500)
Replies: 41
Views: 4847

Re: age 38, early semi-retirement, strategy?

Is it possible to follow your passion part time while still working for the next 1-2 years? Then retiring and pursuing your passion full time then? With similar numbers as yours(although I have kids), I admit that thoughts about early retirement/take the foot off the pedal from a high stress job sta...
by bkslainte
Fri Sep 13, 2013 5:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: age 38, early semi-retirement, strategy?
Replies: 17
Views: 2934

Re: Rental Property + Interfamily Dynamics

Here are my thoughts on this situation a) I think it's a bad idea to mix family and business I think it is a little too late for that. You should appreciate that he stepped forward and lent you the money in this situation. Any of the scenarios you described will continue to have family dynamics invo...
by bkslainte
Wed Sep 11, 2013 4:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental Property + Interfamily Dynamics
Replies: 17
Views: 1555

Re: 1031 Exchange

FWIW, here is something I found on the internet about turning 1031 exchange properties into personal residences. It seems to indicate that the transaction might be possible but you might not reap all the tax benefits you think you would(ie, cost basis,decprecation recapture) http://www.calcpa.org/co...
by bkslainte
Wed Aug 28, 2013 8:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 5
Views: 474

Re: How to go about mortgage preapproval?

You should shop around. Just the same way you look at different brands of cereal at the supermarket, you should shop around for loans. This could include but is not limited to -Signing up online at something like lending tree -Getting quotes from a loan broker -Going to 2-3 banks and getting quotes ...
by bkslainte
Tue Aug 27, 2013 5:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to go about mortgage preapproval?
Replies: 8
Views: 526

Re: Help needed for high anxiety w/ new MF picks

I think the expense ratios are extremely high. It will be very difficult(impossible?) for those funds to beat index funds over 5-10 years and beyond. What was the reason that you went with the wealth management firm in the first place? I don't think that they have your best interests if they advised...
by bkslainte
Fri Aug 23, 2013 7:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help needed for high anxiety w/ new MF picks
Replies: 19
Views: 1131

Re: "Holding a mortage"

As long as you do your homework, I would not discount seller financing as a way to purchase the home. Some things to look into, What is the value of the house? What is the prevailling interest rate in your area? What other expenses is she looking at, does the house need a lot of work? What if you ha...
by bkslainte
Fri Aug 23, 2013 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Holding a mortage"
Replies: 10
Views: 928
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