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Re: Will app for biz credit cards impact personal credit sco

I have applied for several business cards in the last year under an LLC name. This was simply for the great signup rewards that the business cards offered. The business cards for which I applied required both the LLC EIN and personal SSN. As I understand it, the credit is granted to the individual a...
by bkslainte
Mon Jul 21, 2014 6:06 pm
 
Forum: Personal Consumer Issues
Topic: Will app for biz credit cards impact personal credit score?
Replies: 5
Views: 449

Re: School me on my rental property understanding..

Does this sound right. How much higher is the rate for an investment property vs a primary residence usually? Did I get tricked? I would say that mortgage rates average .5 points higher for an investment properties so you did not get tricked. Along with the other feedback provided, I was going to p...
by bkslainte
Thu Jun 26, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: School me on my rental property understanding..
Replies: 16
Views: 988

Re: How common are after-tax in service rollovers?

There might not be too much information on this online but you better believe the Bogleheads already have several polls on whether their plans offer this feature :) One of several polls below.

viewtopic.php?f=11&t=104829
by bkslainte
Mon Jun 23, 2014 2:55 pm
 
Forum: Investing - Theory, News & General
Topic: How common are after-tax in service rollovers?
Replies: 17
Views: 1256

Re: Renegotiating Extra Escrow payments after analysis

Is escrow mandatory with this loan?

You should ask the lender if you can stop escrow payments and just pay the property taxes(and home insurance if applicable) directly.
by bkslainte
Wed Jun 18, 2014 7:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renegotiating Extra Escrow payments after analysis
Replies: 9
Views: 502

Need help with maps-Sierra Leone

Hello bogleheads and hopefully amateur cartographers, I am asking this on behalf of my uncle(don't worry, he is not an oil minister or anything :) ). He currently works in Sierra Leone and is looking for a detailed map of the region. So far, the most detailed map he can locate is from 1960 and there...
by bkslainte
Wed Jun 18, 2014 2:12 pm
 
Forum: Personal Consumer Issues
Topic: Need help with maps-Sierra Leone
Replies: 1
Views: 194

Re: tenant advice?

He also has a lot of free time and has a number of court cases (under aliases) that include eviction for not paying rent. If this is true, this changes my initial thoughts about the situation. I still think you should have a direct conversation with the tenant but if they have this past history the...
by bkslainte
Thu Jun 05, 2014 3:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: tenant advice?
Replies: 46
Views: 2763

Re: tenant advice?

Open friendly direct talks and avoid getting nasty. Ask what you can do to help.


I agree that this would be a good place to start. Plus, its a lot cheaper than getting a lawyer involved and you might resolve this quickly.
by bkslainte
Thu Jun 05, 2014 11:42 am
 
Forum: Personal Finance (Not Investing)
Topic: tenant advice?
Replies: 46
Views: 2763

Re: determining rental price for house?

I agree with listing this at $3000(or $2995) if the area comps support that price.

First, you might get someone to rent at the higher price.

Secondly, you might get someone that wants to negotiate down the price and then you have that $100 to close the deal.
by bkslainte
Fri May 30, 2014 4:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: determining rental price for house?
Replies: 11
Views: 1190

Re: determining rental price for house?

Have you done research on comparable rental listings in the area?

Looking at craigslist ads would give you a ballpark figure on rents in the area.
by bkslainte
Fri May 30, 2014 1:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: determining rental price for house?
Replies: 11
Views: 1190

Investing with Upstart

Does anyone have experience investing with Upstart?

They are in the peer to peer lending space and have recently begun offering 3 year loan types.

The rates they offer to investors appears attractive but I assume there are also higher risks of defaults. Are there any other risks involved?
by bkslainte
Fri May 30, 2014 1:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing with Upstart
Replies: 1
Views: 211

Re: Dealing with mortgage delay close to closing date

I agree with others that this is common and most likely will get done. However, you should be proactive about this and stay on top of your lender. Also, I would communicate this with your real estate agent. They can also apply pressure and your agent will need to be ready to communicate any possible...
by bkslainte
Tue May 27, 2014 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Dealing with mortgage delay close to closing date
Replies: 7
Views: 833

Re: White collar crime book recommendations?

Although this covers white collar crime against a business, I enjoyed Rouge Trader that tells the story of Nick Leeson and the trades that led to the collapse of Barings Bank. Also, you should check out the tv series American Greed on CNBC that covers a lot of the more of white collar crime against ...
by bkslainte
Wed May 21, 2014 11:57 am
 
Forum: Personal Consumer Issues
Topic: White collar crime book recommendations?
Replies: 21
Views: 1079

Re: Gift Tax Question

Its not related to the gift tax question but wanted to add the following, Will the home buyer be taking out a mortgage to purchase the house? Any recent large inflows to bank accounts will be scrutinized by the lender. You might want to check with the lender/mortgage broker on the best way to receiv...
by bkslainte
Tue May 20, 2014 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gift Tax Question
Replies: 14
Views: 1277

Re: Stock Market to Plunge? What a friend said.

At first, I was going to reply with more sarcasm. After thinking about this a bit more and leveraging my inner Bogle, I would refer you to a previous Boglehead post that might be helpful. It looks like you are at Level 2 right now. http://www.bogleheads.org/forum/viewtopic.php?f=10&t=139159&...
by bkslainte
Tue May 13, 2014 5:12 pm
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6122

Re: CNBC - 4% doctors are millionaires!!

I think you can find part of the answer in the previous slide Three-fourths of America's millionaires are retired, and nearly 60 percent are grandparents with an income of less than $150,000 per year . Just under a quarter of the millionaires surveyed had a household income of more than $200,000. Ac...
by bkslainte
Thu May 08, 2014 1:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: CNBC - [Among millionaires, 4% are doctors]
Replies: 100
Views: 10825

Re: Must I pay taxes on rental income in this scenario?

I just wanted to bump this up one time to see if anyone else weighs in with an idea The advice you have been so far is pretty good. What other ideas are you looking for? If you are going to rent a place and receive income on the place then you are going to have to report this as well as any expense...
by bkslainte
Wed May 07, 2014 5:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Must I pay taxes on rental income in this scenario?
Replies: 12
Views: 991

Re: Is it a bad move to buy a home now?

First of all, relax. Take a few deep breaths. The month that you are in escrow will be one of the most up and down/roller coaster type months that you experience. Especially if you are a first time home buyer and are seeing things for the first time. I have seen several of your posts over the past f...
by bkslainte
Wed Apr 23, 2014 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is it a bad move to buy a home now?
Replies: 34
Views: 7388

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: 628

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: 2497

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: 1728

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: 1614

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: 406

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: 1032

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: 1196

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: 1223

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: 503

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: 1096

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: 199

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: 3960

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: 1116

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: 1116

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: 1116

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: 1577

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: 4241

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: 961

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: 1003

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: 1003

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: 1962

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: 594

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: 510

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: 1516

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: 1312

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: 781

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: 1169

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: 820

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: 5022

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: 1198

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: 2138
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