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Re: How to Handle Death of a Tenant

I always thought in meant in, which is why I wrote that it wouldn't apply in his case. I think that is the intent of the law. There is a similar disclosure requirement on home sales. If my wife had died in a hospital, I wouldn't have had to disclose that when I sold my house, but she had hospice an...
by hand
Wed Apr 09, 2014 9:05 am
 
Forum: Personal Finance (Not Investing)
Topic: How to Handle Death of a Tenant
Replies: 19
Views: 1573

Re: Saving on major renovations

Having gone through a similar process buying and rehabbing a distressed and over-assessed property, a couple of thoughts: 1) Grt2bOutdoors makes a great point about reassessment - this has the possibility (or likelihood) of reducing taxes immediately, and increasing value if you sell in the future. ...
by hand
Tue Apr 01, 2014 11:27 am
 
Forum: Personal Consumer Issues
Topic: Saving on major renovations
Replies: 33
Views: 2510

Re: Need help with time share offer

Thank you all for your replies. They are brand new luxury apartments and I don't think there is a secondary market for them at this point. It would be permanent equity ownership. Thanks for all the links, I will so some reading after skiing today, but we decided not to go for it (sleeping over some...
by hand
Mon Mar 31, 2014 9:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Need help with time share offer
Replies: 22
Views: 1536

Re: Saving on major renovations

There are significant savings opportunities related to appliances if you are not wedded to a specific brand / model. With enough lead time / legwork, floor models, closeouts, and scratch and dent appliances can really provide an opportunity for savings. I personally have had good luck using online v...
by hand
Mon Mar 31, 2014 9:06 am
 
Forum: Personal Consumer Issues
Topic: Saving on major renovations
Replies: 33
Views: 2510

Re: Trouble with Financial Engines Account?

I'm beginning to wonder if the "failure" of Financial Engines is intentional to push users to Vanguard's Personal Advisor Services.
Has anyone heard a resolution date for this issue?
by hand
Wed Mar 26, 2014 1:17 pm
 
Forum: Investing - Theory, News & General
Topic: Trouble with Financial Engines Account?
Replies: 14
Views: 1405

Re: our renters want to buy our rent house

You may want to review a related discussion "What terms make lease to own worth it as seller?": http://www.bogleheads.org/forum/viewtopic.php?f=2&t=130914&p=1926952 To quote myself: From my research and experience, lease to own is fraught with issues. Legal and financial components...
by hand
Tue Mar 25, 2014 8:42 am
 
Forum: Personal Finance (Not Investing)
Topic: our renters want to buy our rent house
Replies: 20
Views: 2456

Re: I need a quality lawnmower

What is your time worth? Perhaps a lawn robot would make sense for you and allow you to pursue a more enjoyable form of exercise?
by hand
Fri Mar 21, 2014 8:27 am
 
Forum: Personal Consumer Issues
Topic: I need a quality lawnmower
Replies: 31
Views: 1606

Re: Trouble with Financial Engines Account?

I've had the same issue as well.
by hand
Sun Mar 16, 2014 8:56 pm
 
Forum: Investing - Theory, News & General
Topic: Trouble with Financial Engines Account?
Replies: 14
Views: 1405

Re: Alternatives to paying full real estate commissions?

If I were a realtor, I would try to show higher commissioned homes first, wouldn't you? While I agree with your point that realtors are unlikely to act against their self-interest, I would like to point out that buyers agents have a fiduciary duty to act in their client's best interests which inclu...
by hand
Wed Mar 12, 2014 9:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Alternatives to paying full real estate commissions?
Replies: 31
Views: 2443

Re: Thoughts on Selling Stocks & Paying Off the Mortage?

I'm about 42 years old and like most people have watched the value of my 401k and other investment accounts rise considerably in the past five years. It's starting to concern me. About 60-65% of my assets are in stocks, about 30-35% in real estate and about five percent cash. I financed my home at ...
by hand
Tue Mar 11, 2014 8:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Thoughts on Selling Stocks & Paying Off the Mortage?
Replies: 12
Views: 1187

Re: Kitchen Renovation: Go big....or not?

I see lots of negatives with option 1: -Choosing option 1 over option 2 does not seem like an emergency, and wouldn't be something I would fund from an emergency fund. -The larger scope of related to relocating the kitchen seems more likely to uncover unexpected construction issues & costs. - De...
by hand
Fri Mar 07, 2014 11:47 am
 
Forum: Personal Consumer Issues
Topic: Kitchen Renovation: Go big....or not?
Replies: 25
Views: 1847

Re: Would you retire like this?

If tourists are just discovering the island, it seems unlikely that the house you found will continue to rent for $330 / month.
That being said, there will likely be increased opportunities for someone who can bridge the local language / culture and the tourist language / culture.
by hand
Mon Mar 03, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Would you retire like this?
Replies: 72
Views: 6723

Re: Buying a 'loaded' vs stripped down vehicle

Recognize that at some level, the request for a stripped down vehicle is the same as requesting a "custom" vehicle. In many cases, getting less may in fact cost more! If reason for having less is to reduce possible points of failure and future maintenance costs, the up front cost & has...
by hand
Thu Feb 20, 2014 3:19 pm
 
Forum: Personal Consumer Issues
Topic: Buying a 'loaded' vs stripped down vehicle
Replies: 52
Views: 3120

Re: Best Non-Stick Pan or Skillet

Kitchen supply stores (webrestaurantstore.com / katom) are excellent for purchasing nonstick pans. Or anything kitchen related--75% of our kitchen equipment is from webrestaurantstore.com, which is an amazing retailer. The key is to find a pan made of thick aluminum. and a decent non-stick coating ...
by hand
Mon Feb 17, 2014 8:27 pm
 
Forum: Personal Consumer Issues
Topic: Best Non-Stick Pan or Skillet
Replies: 51
Views: 4090

Re: Mortgage advice

The proper financial* comparison is between the real (inflation adjusted) cost of the 15 year mortgage and the real (inflation adjusted) cost of the 30 year mortgage paid on a 15 year timetable - if you truly have the discipline to repay the 30 year as if a 15 year loan. Check out the second calcula...
by hand
Tue Feb 11, 2014 12:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage advice
Replies: 12
Views: 828

Re: Voyager Select and Work Email Pop-up Windows

More broadly, the Vanguard "status" branded emails represent a significant security issue as most email is transmitted in clear text over the internet and through any number of intermediary computers. I've raised this with Vanguard representatives and my understanding is that only way to e...
by hand
Mon Feb 10, 2014 4:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Voyager Select and Work Email Pop-up Windows
Replies: 7
Views: 521

Re: Pay extra on principal for Rental or Primary

On a rental, you alway get to subtract all the mortgage interest from the rental income ... along with all other expenses including taxes, insurance, maintenance and repairs, management fees if any, and the depreciation allowance ... before you pay any income tax on the remainder. It's reported on ...
by hand
Tue Feb 04, 2014 12:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pay extra on principal for Rental or Primary
Replies: 17
Views: 804

Re: Buying the most expensive house you can afford

The best lies often contain a kernel of truth. As noted above, the most immediate beneficiaries of overbuying are your realtor, the mortgage broker and your lender. In most cases you are better off consuming only what you need from a shelter perspective. That being said, overbuying can be a good dec...
by hand
Tue Feb 04, 2014 11:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying the most expensive house you can afford
Replies: 101
Views: 7565

Re: Mid 5 figure windfall for young boglehead

Your first thought should be Roth IRA / Backdoor Roth IRA if eligible as contributions can always be withdrawn without penalty. To some degree this allows you to have your cake by contributing to tax advantaged accounts, and eat it too by withdrawing earlier than retirement if needed. Notes: 1) Earn...
by hand
Mon Feb 03, 2014 2:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mid 5 figure windfall for young boglehead
Replies: 11
Views: 1604

Re: Buying a ski condominium

A couple of risks / costs that you didn't explicitly mention, but should consider: 1) Cost to furnish new condo 2) Cost of your time to manage the property / turn over for rentals / open & close at beginning and end of season 3) Risk of no snow / too much snow during high periods limiting your a...
by hand
Fri Jan 31, 2014 12:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a ski condominium
Replies: 17
Views: 1393

Re: VG teams up with HelloWalle​t

Look, it's an option for plan participants. Having the option to have an automated service help you with your financial planning is no more "libertarian paternalism" than my having the option of paying an advisor to help me with my finances. Wording in the initial post makes me think this...
by hand
Thu Jan 30, 2014 12:34 pm
 
Forum: Investing - Theory, News & General
Topic: VG teams up with HelloWalle​t
Replies: 24
Views: 2141

Re: Sell my financed luxury car to free up cash?

Only reasons to hang on to a "depreciating asset" are as follows: 1) You will get more utility from the asset in the future than the expcted depreciation + maintenance & insurance costs 2) Transaction costs to sell are unreasonably high 3) You have an expectation of significant use aft...
by hand
Thu Jan 30, 2014 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Sell my financed luxury car to free up cash?
Replies: 18
Views: 2019

Re: berkey travel water filter

Depending on your needs, you may want to take a look at Lifestraw.
by hand
Wed Jan 29, 2014 10:48 am
 
Forum: Personal Consumer Issues
Topic: berkey travel water filter
Replies: 7
Views: 472

Re: Payoff mortgage or not?

Have you considered impact of paying off the rental mortgage on college financial aid?

I would think moving cash from non-retirement accounts would have the benefit of reducing your monthly burn rate, reducing your emergency fund, and reducing the amount visible to financial aid calculations.
by hand
Tue Jan 28, 2014 10:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Payoff mortgage or not?
Replies: 8
Views: 991

Re: Home Affordability - Good Income, Luxury Home

Go for it my only other advice is a 15 year mortgage. Estimated interest payments for 30 yr at 4.125% is about 300,000, 15 yr at 3.25% is about 100,000. Refinanced a year into a 30 yr mortgage and have never looked back so save that expense too. It appears you assumed a $417k loan, and are listing ...
by hand
Tue Jan 28, 2014 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability - Good Income, Luxury Home
Replies: 31
Views: 2825

Re: Marriage, New Budget: Are We Saving Enough?

Congratulations / Best Wishes, My bet is that your "nagging feeling that we can afford to save more" is more of a realization that you are spending more and fear that the increased spending represents a permanent yet unsustainable change. It looks like you are pretty savvy regarding real e...
by hand
Tue Jan 28, 2014 3:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Marriage, New Budget: Are We Saving Enough?
Replies: 11
Views: 1969

Re: Young, rich, hopefully not dumb

A minor piece of the puzzle may be to increase your tax advantaged space by pre-funding 529s for your expected future kids.
I believe you can open 529s in the names of you and your wife, and reassign to your kids when they are born.
by hand
Fri Jan 24, 2014 10:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Young, rich, hopefully not dumb
Replies: 51
Views: 6373

Re: Berkshire Website

Copyright © 1978-2013 Berkshire Hathaway Inc.


I wonder when they'll get around to updating their copyright notice?
by hand
Thu Jan 23, 2014 12:01 pm
 
Forum: Investing - Theory, News & General
Topic: Berkshire Website
Replies: 18
Views: 1357

Re: Salary to Home Value/Mortgage Ratio?

Assuming this is to inform a purchase decision, I would caution that a standard ratio may not be a good reference point for a number of reasons. Off the top of my head: 1) One income or two paying the mortgage - if two incomes, risk of income going to zero for a period of time (layoff etc.) is lower...
by hand
Fri Jan 17, 2014 5:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Salary to Home Value/Mortgage Ratio?
Replies: 27
Views: 2061

Re: What terms make lease to own worth it as seller?

From my research and experience, lease to own is fraught with issues. Legal and financial components are relatively straightforward assuming all parties are equally knowledgeable, and I'm sure you'll get good advice from others regarding how to make the risk attractive. A clear benefit is that your ...
by hand
Fri Jan 17, 2014 10:50 am
 
Forum: Personal Finance (Not Investing)
Topic: What terms make lease to own worth it as seller?
Replies: 17
Views: 990

Re: Help needed with a CC Debt Emergency

2) She is getting a small yearly bonus soon (~$4800, next week) of which $1000 will go to a very small emergency fund to help prevent future CC use while she digs herself out and the rest will go to the highest interest CC (still on the fence about this). Should she wait 4-6 months until she can pa...
by hand
Mon Jan 13, 2014 3:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help needed with a CC Debt Emergency
Replies: 36
Views: 1795

Re: Will a mortgage lender accept another's recent appraisal

Appraisal process is a complete racket in my opinion. I've had appraisals that differed by >25% occur within weeks of one another. Wore, there is almost no recourse for the homeowner should the appraiser do a poor job. Keep in mind that a really low appraisal can be a blessing in disguise if it allo...
by hand
Fri Jan 10, 2014 3:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Will a mortgage lender accept another's recent appraisal?
Replies: 8
Views: 741

Re: Home Builder Experience

When I did research into production builders, I came across a lot of negative feedback specifically related to Toll Brothers and their (alleged) practices of charging lot premiums for views / open space and subsequently altering the view / privacy. The following link is a summary of some of the comp...
by hand
Fri Jan 10, 2014 1:58 pm
 
Forum: Personal Consumer Issues
Topic: Home Builder Experience
Replies: 36
Views: 2026

Re: Home Builder Experience

The better local builders will give you a better quality house and probably in the same price range as the volume builders. Is that because of the diseconomies of scale? This is likely because tract builders are significantly more sophisticated in "value engineering" and "market engi...
by hand
Fri Jan 10, 2014 9:47 am
 
Forum: Personal Consumer Issues
Topic: Home Builder Experience
Replies: 36
Views: 2026

Re: Help with sibling's school loans

Thanks everyone, really appreciate all of the great replies! I discussed this with sibling and they're going to pay off the $3,500 loan completely right now, do the "snowball" plan for the rest and then tackle that large one. I also suggested ways for them to get a few hundred more per mo...
by hand
Thu Jan 09, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with sibling's school loans
Replies: 40
Views: 2062

Re: Would installing a French Drain (interior) be a good inv

Be aware that in the Philadelphia region (and likely many others) any work that opens up your basement (such as digging of sumps) may have the unintended effect of increasing radon levels in the house. PM sent with a local vendor I have used for an interior water management system who I thought did ...
by hand
Wed Jan 08, 2014 1:22 pm
 
Forum: Personal Consumer Issues
Topic: Would installing a French Drain (interior) be a good invest
Replies: 50
Views: 6664

Re: How low to go on selling a rental property?

As an inadvertent landlord, I feel your pain, and have eventually come to the decision to dump my rental as soon as it becomes vacant. Unless we have massive inflation, the best case returns are not material and simply not worth the significant hassle and risk. A couple of thoughts based on your sit...
by hand
Wed Jan 08, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: How low to go on selling a rental property?
Replies: 33
Views: 2279

Re: How low to go on selling a rental property?

Forbes has a calculator to determine sell vs. Rent:

http://www.forbes.com/fdc/rentorsell.shtml
by hand
Wed Jan 08, 2014 10:23 am
 
Forum: Personal Finance (Not Investing)
Topic: How low to go on selling a rental property?
Replies: 33
Views: 2279

Re: Heating sources for conventional loan

I have my loan officer working with the secondary mortgage underwriters to figure something out. It is nice that your loan officer is working with the secondary mortgage underwriters, but this (perhaps intentionally on their part) does not address the central question - did the bank make a binding ...
by hand
Tue Jan 07, 2014 12:34 pm
 
Forum: Personal Consumer Issues
Topic: Heating sources for conventional loan
Replies: 29
Views: 1034

Re: Heating sources for conventional loan

As described, if the bank knew about the planned heating (or lack thereof) at the time they agreed to fund, it does seem like they should stand up to their commitment. Whether this is a realistic outcome likely depends 1) on the actual language in your agreement with the bank, and 2) what it would t...
by hand
Tue Jan 07, 2014 12:11 pm
 
Forum: Personal Consumer Issues
Topic: Heating sources for conventional loan
Replies: 29
Views: 1034

Re: How much life insurance?

You need to consider your current financial obligations (~150k mortgage, $35k wife's debt, $75??k / yr living expense for your wife & kid, $250k?? college), add them up, subtract any income in case of your death ($100k employer insurance, social security benefits for wife / kid). The total is yo...
by hand
Fri Jan 03, 2014 11:38 am
 
Forum: Personal Finance (Not Investing)
Topic: How much life insurance?
Replies: 19
Views: 1134

Re: Bryn Mawr [College]

P.S. She hasn't even applied yet. Why visit if she has a good chance of being turned down? There will be time after she is accepted (if she is) to visit before making a final choice. Whether an applicant has made the commitment of time and money to visit a school is sometimes weighed in the admissi...
by hand
Thu Dec 19, 2013 4:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bryn Mawr [College]
Replies: 68
Views: 3954

Re: My investment plan - Please comment/critique

What the last few responses seem to be missing is that there is a required expense base that I'm calling $200k/yr. I think you have the right approach identifying your required expense base and planning to fund in a safe manner. While a total portfolio approach might be better from a pure math pers...
by hand
Thu Dec 19, 2013 3:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: My investment plan - Please comment/critique
Replies: 20
Views: 2042

Re: What next: HSA or taxable?

Congrats on your job and focus on saving. If I understand correctly, of your $60k of annual income, you are saving $23k / yr (maxing your IRA & 401(k)). While I agree that the math would suggest HSA before taxable for additional savings, I would like to propose some alternatives based on my expe...
by hand
Thu Dec 19, 2013 1:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: What next: HSA or taxable?
Replies: 12
Views: 851

Re: My investment plan - Please comment/critique

I intend to split the $7m into two buckets of $3m and $4m. For the $3m bucket I will buy individual muni bonds with a yield around 4%. Currently this means about 15-20 year maturities with ratings of AA-AAA. This should generate about $120k of income. Choosing bond duration based on a desired yield...
by hand
Thu Dec 19, 2013 12:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: My investment plan - Please comment/critique
Replies: 20
Views: 2042

Re: 40 and Finally Getting Serious (Portfolio Review)

More questions: 5. Does withdrawal rate remain constant over the retirement years, or tick upwards as your, um, timeframe decreases? 6. When calculating expenses, how do I factor in taxes given the mish-mash of deferred and non-deferred accounts? 7. Does anyone recommend the use of sector ETF's to ...
by hand
Wed Dec 18, 2013 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: 40 and Finally Getting Serious (Portfolio Review)
Replies: 5
Views: 1248

Re: Buying Home vs Paying Off Debt

Thanks for the numbers. Simplifying a bit, and assuming you will receive a gift of just over 20% of the purchase price ($30k), after you purchase the house, you will have debts of approx $160k vs. an income of $72k or debt levels 2.2 times your income. This is within the range of what most people th...
by hand
Wed Dec 18, 2013 5:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying Home vs Paying Off Debt
Replies: 15
Views: 993

Re: Buying Home vs Paying Off Debt

My issue however is that even though we could make purchasing the home work, it will seriously hamper my ability to pay extra towards debt each month. Additionally we did not save extra funds with the intention of buying a house (I do have a few months in an emergency fund). Problem is her in-laws ...
by hand
Wed Dec 18, 2013 4:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying Home vs Paying Off Debt
Replies: 15
Views: 993

Re: 40 and Finally Getting Serious (Portfolio Review)

Welcome and congratulations. It appears that you have many of the key attributes needed to build the wealth needed for a comfortable retirement: 1) strong income, 2) ability to live below your means, 3) ability to save, 4) recognition that stockpicking is a loser's game for you (as it is for most pe...
by hand
Wed Dec 18, 2013 11:37 am
 
Forum: Investing - Help with Personal Investments
Topic: 40 and Finally Getting Serious (Portfolio Review)
Replies: 5
Views: 1248

Re: Using equity in home for investment

Thanks all for the responses. Perhaps we made the wrong choice. Part of our decision to make the loan was that we have one daughter in college and another who will be there in a few years. They both intend to seek advanced degrees. We do not have a college fund for them. Our college aged daughter h...
by hand
Thu Dec 12, 2013 2:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Using equity in home for investment
Replies: 33
Views: 1483
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