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Re: Negotiations with lenders

Yes, of course. Just ask them to provide their best pricing. I would also be upfront with them that you are looking at several different lenders. Also, although rates may be the most important thing to you, you should also consider other factors such as: Can this lender close on time? Is the lender ...
by bkslainte
Tue Oct 21, 2014 3:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Negotiations with lenders
Replies: 3
Views: 448

Re: Sell bonds to buy real estate?

I think this is very risky especially if this is your first real estate type deal. I own 10 rental units, starting out 4 years ago. My partner on the deals is a 20 year real estate professional and every time vacant land comes up as an opportunity, he passes and take the opportunity to remind me all...
by bkslainte
Mon Oct 20, 2014 3:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Sell bonds to buy real estate?
Replies: 11
Views: 1207

Re: Great deal for new Costco members

Does anybody have experience with how Costco defines new members?

We currently have an annual membership that will expire in a few weeks. I might consider dropping for a few weeks and then signing up for this deal.
by bkslainte
Fri Sep 12, 2014 11:23 am
 
Forum: Personal Consumer Issues
Topic: Great deal for new Costco members
Replies: 18
Views: 3037

Re: Rental rate of return

I would suggest using cap rate to simplify your analysis

Cap rate is net operating income/purchase price($100,000 in your case)
by bkslainte
Thu Sep 11, 2014 3:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental rate of return
Replies: 17
Views: 1497

Re: Visit to SFO Area - Dining

Go Niners!

La Taqueria: 2889 Mission Street, near 25th, San Francisco

I have never been but it was just ranked the #1 burrito by ESPN's FiveThirtyEight.
by bkslainte
Wed Sep 10, 2014 4:06 pm
 
Forum: Personal Consumer Issues
Topic: Visit to SFO Area - Dining
Replies: 14
Views: 1094

Re: Fantasy football debt owed

Thanks for all the replies. I hope this board never loses its witty and sarcastic nature. My wife would probably appreciate all the anti-ffl remarks here,ha! The commissioner(or the gentleman who organizes the league) is an acquaintance. When I asked him about the money a few months ago, he intimate...
by bkslainte
Tue Sep 02, 2014 2:02 pm
 
Forum: Personal Consumer Issues
Topic: Fantasy football debt owed
Replies: 27
Views: 2099

Fantasy football debt owed

Hi all, I am reaching out to get the collective wisdom of the always thoughtful and knowledgeable Boglehead crowd. I have belonged to a fantasy football league for the past 6 years. There are 12 members and the league fee is $50. The first place team gets $450 and the second place team gets $150. Mo...
by bkslainte
Tue Sep 02, 2014 11:42 am
 
Forum: Personal Consumer Issues
Topic: Fantasy football debt owed
Replies: 27
Views: 2099

Re: 3.85% medicare tax?

You should probably run the numbers through taxcaster to see the overall picture. You are still going to being paying taxes on all your income and dividends/interest. Additionally, you will be paying the additional 3.8% on the dividends/interest. If someone had no interest or dividends, it would act...
by bkslainte
Fri Aug 22, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: 3.85% medicare tax?
Replies: 6
Views: 748

Re: Selling stocks and minimizing taxes

Does the current value include any reinvested dividends? If you have not done anything with the ESPP and were reinvesting the dividends, then your cost basis might be higher because you continued to reinvest the dividends.
by bkslainte
Tue Aug 12, 2014 7:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Selling stocks and minimizing taxes
Replies: 16
Views: 809

Re: Fed Taxes on Sale of Rental/Primary Residence

Did you take depreciation on the property during the time it was a rental? This depreciation is recaptured and might result in a tax when the property is sold.
by bkslainte
Tue Aug 12, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fed Taxes on Sale of Rental/Primary Residence
Replies: 12
Views: 938

Re: Selling stocks and minimizing taxes

You should also determine your cost basis for the stocks to get a true idea of your losses/gains. The cost basis is the price which you paid for the stock. If the stock has gone down in value, then you can offset these losses against any gains you have on other ESPP purchases.
by bkslainte
Tue Aug 12, 2014 5:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: Selling stocks and minimizing taxes
Replies: 16
Views: 809

Re: Advice for US newcomer

And, yes, I am already scanning term4sale and accuquote. Should I take my employer life insurance as well? I would definitely look into taking the employer life insurance as long as its term life. First, the rates are usually quite competitive with what you will find online. Secondly, for lower lev...
by bkslainte
Mon Aug 04, 2014 5:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Advice for US newcomer
Replies: 9
Views: 752

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 5:06 pm
 
Forum: Personal Consumer Issues
Topic: Will app for biz credit cards impact personal credit score?
Replies: 5
Views: 494

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 3:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: School me on my rental property understanding..
Replies: 16
Views: 1039

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 1:55 pm
 
Forum: Investing - Theory, News & General
Topic: How common are after-tax in service rollovers?
Replies: 17
Views: 1303

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 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Renegotiating Extra Escrow payments after analysis
Replies: 9
Views: 515

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 1:12 pm
 
Forum: Personal Consumer Issues
Topic: Need help with maps-Sierra Leone
Replies: 1
Views: 204

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 2:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: tenant advice?
Replies: 46
Views: 2935

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 10:42 am
 
Forum: Personal Finance (Not Investing)
Topic: tenant advice?
Replies: 46
Views: 2935

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 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: determining rental price for house?
Replies: 11
Views: 1198

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 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: determining rental price for house?
Replies: 11
Views: 1198

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 12:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investing with Upstart
Replies: 1
Views: 228

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 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Dealing with mortgage delay close to closing date
Replies: 7
Views: 859

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 10:57 am
 
Forum: Personal Consumer Issues
Topic: White collar crime book recommendations?
Replies: 21
Views: 1141

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 11:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Gift Tax Question
Replies: 14
Views: 1482

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 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: Stock Market to Plunge? What a friend said.
Replies: 78
Views: 6223

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 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: CNBC - [Among millionaires, 4% are doctors]
Replies: 100
Views: 11266

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 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Must I pay taxes on rental income in this scenario?
Replies: 12
Views: 1008

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 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is it a bad move to buy a home now?
Replies: 34
Views: 7426

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 2:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financing the Purchase of Land
Replies: 6
Views: 649

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 11:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Wasting money on rent or buy in California
Replies: 20
Views: 2629

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 5:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wait for better tenant application or approve the one I have
Replies: 27
Views: 1839

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 5:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Contributing to prior year's Roth
Replies: 23
Views: 2052

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 3:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Filing Extension
Replies: 11
Views: 413

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 10:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice on what to do with proceeds from second home sale
Replies: 8
Views: 1079

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 1:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: investment property pros and cons?
Replies: 13
Views: 1224

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 1:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Walton 4 Land Investment
Replies: 9
Views: 1541

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 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: advice on new budget and possible home purchase
Replies: 8
Views: 526

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 11:52 am
 
Forum: Personal Consumer Issues
Topic: Layover in Amsterdam
Replies: 23
Views: 1121

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 6:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Reinvesting equity in existing rental property
Replies: 3
Views: 213

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 5:32 pm
 
Forum: Investing - Theory, News & General
Topic: $16 Billion for WhatsApp?!?!?!
Replies: 51
Views: 4046

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 2:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1151

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 11:35 am
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1151

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 7:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Could use advice investing for the first time
Replies: 19
Views: 1151

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 7:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: 36 year old looking for advice
Replies: 12
Views: 1598

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 12:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Credit Card Bonuses
Replies: 67
Views: 4377

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 1:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help me be fair to my Real Estate Agent
Replies: 15
Views: 978

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 12:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Potential Real Estate Partnership: Good or Bad Idea?
Replies: 14
Views: 1017
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