Search found 184 matches

by Allan12
Fri Feb 03, 2017 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Re: Purchasing 4 Family House for Rental Income

This partnership isn't a 20 year deal it's the beginning of a way for us to pool our money for passive income. doing this as an initial investment as part of a 20 year plan before we retire. OP, do you see this glaring contradiction in your words? Whatever the term of the potential mortgage is, 15,...
by Allan12
Thu Feb 02, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Re: Purchasing 4 Family House for Rental Income

I'm cringing reading this thread. This is a really terrible idea. I know several people who have gotten into these kinds of partnerships and nearly all of them ended in a disaster. As time goes on you guys will have different priorities (get married / have kids) and things will happen that are outs...
by Allan12
Thu Feb 02, 2017 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Re: Purchasing 4 Family House for Rental Income

I guess somebody has to say it, but getting tied up in a 20 year financial deal with three other guys is absolutely insane. The issue has nothing to do with the financial merits of owning and renting that particular property. Appreciate it, were all young guys in our late 20s with defined benefit p...
by Allan12
Thu Feb 02, 2017 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Re: Purchasing 4 Family House for Rental Income

Something does not smell right in the arithmetic. Too good. Virtually nothing down and grossing 4000/2400 or 1.66x the net cost? If it's that good I would sell everything I owned and purchase 50 of such units (only $100k down at 3%), or 500 ($1 million down). Even allowing for 10% vacancies still l...
by Allan12
Thu Feb 02, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Re: Purchasing 4 Family House for Rental Income

Something does not smell right in the arithmetic. Too good. Virtually nothing down and grossing 4000/2400 or 1.66x the net cost? If it's that good I would sell everything I owned and purchase 50 of such units (only $100k down at 3%), or 500 ($1 million down). Even allowing for 10% vacancies still l...
by Allan12
Thu Feb 02, 2017 6:29 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2259

Purchasing 4 Family House for Rental Income

Just wanted to get your opinion on this endeavor I am pursuing. Myself and 3 friends are looking to purchase a home outside of a major military base and rent it out. The purchase price will be 270k and PMI will be involved. 3% will be put down. The total mortgage and taxes will be under 2400. With 4...
by Allan12
Wed Dec 07, 2016 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Mistakenly Penalized on Roth IRA withdrawal?
Replies: 12
Views: 1000

Re: Mistakenly Penalized on Roth IRA withdrawal?

Another possibility - is the IRA actually a traditional IRA? IOW, does it show as a Roth or traditional IRA on his statement? If it is indeed a Roth IRA, he can ignore what Vanguard reps said. Yes, hundred perfect saw it with my own eyes, that it's a ROTH. Also not a conversion or anything like tha...
by Allan12
Wed Dec 07, 2016 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Mistakenly Penalized on Roth IRA withdrawal?
Replies: 12
Views: 1000

Re: Mistakenly Penalized on Roth IRA withdrawal?

corysold wrote:He should be able to withdraw from the contributions penalty free.

Was the $900 all contributions or did it include some earnings?


Entirely contributions. No not a Roth 401k, an individually opened Roth IRA.
by Allan12
Wed Dec 07, 2016 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Mistakenly Penalized on Roth IRA withdrawal?
Replies: 12
Views: 1000

Mistakenly Penalized on Roth IRA withdrawal?

Hello, I am a big believer in Roth IRAs. I was always under the impression that any contributions to a Roth IRA could be withdrawn penalty and tax free? My cousin in his mid 20s has a Roth IRA account at Vanguard. An unexpected expense came up and he withdrew $900 from his IRA. Vanguard (3 different...
by Allan12
Sat Nov 05, 2016 7:41 am
Forum: Personal Consumer Issues
Topic: Cost for Holiday Lighting
Replies: 13
Views: 1554

Re: Cost for Holiday Lighting

I doubt they'll go from 1700 to 500. I live in NYC and get my house professionally decorated. Last year was the first time. I paid 300 for my roof/gutter outline, and about 5-10 small trees/bushes. The $300 included the lights which were removed after Christmas. This year they will use the same ligh...
by Allan12
Thu Jun 09, 2016 3:00 pm
Forum: Personal Consumer Issues
Topic: Nest Rush Hour Rewards
Replies: 3
Views: 492

Re: Nest Rush Hour Rewards

That's pretty much the same thing that nest offers. Glad to hear some positive feedback.
by Allan12
Thu Jun 09, 2016 11:39 am
Forum: Personal Consumer Issues
Topic: Nest Rush Hour Rewards
Replies: 3
Views: 492

Nest Rush Hour Rewards

Anyone enrolled in Nest Rush Hour Rewards? Basically you give the power company control of your thermostat on high demand days (around 10 the whole summer) and they can throttle temperature/pre-cool, etc. Supposedly if you aren't comfortable you can override the temperature. My power company is offe...
by Allan12
Thu Jun 09, 2016 11:36 am
Forum: Personal Finance (Not Investing)
Topic: HVAC Upgrades When Old Systems Still Work?
Replies: 16
Views: 1587

Re: HVAC Upgrades When Old Systems Still Work?

My advice would be to try and hold out until winter to have any work done to your cooling system. I got a new AC system installed over the winter, and was really able to negotiate down since the owner of the AC company basically told me he was very, very slow. I ended up saving $2,000. $6500 for a j...
by Allan12
Wed Jun 01, 2016 11:16 am
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

Re: New Boiler Sizing

Your heat loss may be 23k on design day, but what will it be on a 40┬░ day? Maybe 6k? You want a 70k boiler to heat the 6k needed? Thats going to short cycle itself to an early grave. Look into a mod/con boiler - modulating/condensing. A Lochinvar KHN55 has a max btu of 55k yet modulates down to ~8k...
by Allan12
Tue May 31, 2016 5:47 pm
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

Re: New Boiler Sizing

Something doesn't make sense. You currently have a 96% efficient dual-stage natural gas hot air furnace, and you're looking to replace it already? 96% efficient and dual-stage is extremely good, I'm not sure if that was even available more than 15 years ago or so, so it can't be that old. If its br...
by Allan12
Mon May 30, 2016 7:02 pm
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

Re: New Boiler Sizing

The current furnace I have output btuh: low 49,000, high 74,000.....input low 52,000, high 80,000 says up to 96% efficient. IT SAYS....On the coldest days of the year, the 58MVP Furnace has the capacity to heat your home. On moderate days when less heat is required, this furnace will regulate itself...
by Allan12
Mon May 30, 2016 2:30 pm
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

Re: New Boiler Sizing

The new boiler will definitely be more efficient. Usage for last 2 winters in NYC, December, January, February, March between 550 to 560 Therm Found out a One therm equals 100,000 Btu. So approximately, 55,000,000 BTU, divided by 120 days, is 458,333 BTU a day, divided by 24 hours, Just under 20,000...
by Allan12
Mon May 30, 2016 2:01 pm
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

Re: New Boiler Sizing

I had a heat loss calculation done and it came out to 23,000 BTU which I find extremely low. Can anyone shed light on this topic? Manual J trumps feelings. It is of course possible that the heat loss calculation was done incorrectly, and it may be worth getting a second opinion, but if two independ...
by Allan12
Mon May 30, 2016 12:57 pm
Forum: Personal Consumer Issues
Topic: New Boiler Sizing
Replies: 40
Views: 2431

New Boiler Sizing

All, I am currently installing baseboard heating in my house, and removing the previous system, which was forced hot air. Buying a new boiler is a lot more complicated than I could have ever imagined. I had a heat loss calculation done and it came out to 23,000 BTU which I find extremely low. The ne...
by Allan12
Tue Apr 12, 2016 4:25 pm
Forum: Personal Consumer Issues
Topic: Selling a house with solar panels
Replies: 38
Views: 4835

Re: Selling a house with solar panels

My understanding is that solar panels that have a leasing agreement actually decreases the value of the house. It can actually be a hassle to get the new owner to accept the agreement, and if they don't you have to buy out the lease. Where as, solar panels that have been purchased outright, slightly...
by Allan12
Tue Apr 12, 2016 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Simple Mortgage Refinance
Replies: 8
Views: 801

Re: Simple Mortgage Refinance

How does one go about finding these rates with no fees? Are the online banks associated with zillow rate finder legitimate? I am in NYC, so the mortgage refinance tax is $3,000. I can avoid that by having the mortgage assigned to the new company, but that requires an attorney, and the quotes I've re...
by Allan12
Tue Apr 12, 2016 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Simple Mortgage Refinance
Replies: 8
Views: 801

Re: Simple Mortgage Refinance

I can buy a point for approximately $3,000 and would bring my rate down to 2.875%. Is it worth it to buy a point, or 2 points? Seems like according to my calculations the savings is less than $2,000. Based on that statement and without running any numbers, I say, no, not worth it for the point. Of ...
by Allan12
Tue Apr 12, 2016 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Simple Mortgage Refinance
Replies: 8
Views: 801

Simple Mortgage Refinance

I currently have paid 3.5 years of $320,000, 3.625% 30 year Mortgage, with a balance of $295,000. I am refinancing to a 15 year mortgage, $300,000, 3.0% rate. The $5,000 increase of mortgage balance would represent refinancing fees rolled in. I am using the same bank to save on NYC associated fees, ...
by Allan12
Mon Apr 04, 2016 10:30 am
Forum: Personal Consumer Issues
Topic: Breaking concrete
Replies: 42
Views: 4091

Re: Breaking concrete

I was in a similar position as you a few months ago, a 15x15 concrete patio about 5" deep that had to be removed and my yard regarded. Asked some family to help me break it up and I had 4 very capable big guys show up and we rented the biggest electric Jack hammer from Home Depot. I was plannin...
by Allan12
Thu Mar 24, 2016 8:53 am
Forum: Personal Consumer Issues
Topic: Synthetic Grass in Yard
Replies: 14
Views: 1139

Synthetic Grass in Yard

Morning, Anyone replace a lawn with synthetic grass/realistic artificial turf? I have a section in my backyard about 40 wide by 20 deep, that I am thinking may be ideal for synthetic grass since it will hold a jungle gym for my kids. I like the idea of no maintence, no warn spots. Any first hand exp...
by Allan12
Sat Feb 20, 2016 2:52 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

tinscale wrote:Glad it got resolved. Are they sending you a $25 gift card for your trouble? :shock:


The last thing I want is another gift card. Kinda funny I didn't even want to pursue that channel , just simply wanted to make my return.

Thanks for all of the insight everyone.

A
by Allan12
Fri Feb 19, 2016 2:59 pm
Forum: Personal Consumer Issues
Topic: Baseboard Heating- PEX vs Copper
Replies: 15
Views: 1241

Re: Baseboard Heating- PEX vs Copper

...The contractor told me to decide on pvc vs pex. pvc is not copper, it's another type of plastic... don't let the contractor use it, go with the pex. pex will also be better than copper for this purpose. Does that only apply to the water tubing or the fins as well? I would imagine all baseboard u...
by Allan12
Fri Feb 19, 2016 1:48 pm
Forum: Personal Consumer Issues
Topic: Baseboard Heating- PEX vs Copper
Replies: 15
Views: 1241

Re: Baseboard Heating- PEX vs Copper

I'm not really clear on your question. We have radiant underfloor heating. It uses PEX for the hot water but has aluminum radiator fins that clip onto the PEX and attach to the underside of the subfloor. If PEX is allowed, I think it is superior to copper and less expensive, so that is what I would...
by Allan12
Fri Feb 19, 2016 1:23 pm
Forum: Personal Consumer Issues
Topic: Baseboard Heating- PEX vs Copper
Replies: 15
Views: 1241

Re: Baseboard Heating- PEX vs Copper

Yes, I mean the tubing going into the baseboards.

The contractor told me to decide on pvc vs pex.

Does that only apply to the water tubing or the fins as well? I would imagine all baseboard units would have metal fins?
by Allan12
Fri Feb 19, 2016 12:21 pm
Forum: Personal Consumer Issues
Topic: Baseboard Heating- PEX vs Copper
Replies: 15
Views: 1241

Baseboard Heating- PEX vs Copper

All, I'm considering switching over my forced hot air system to baseboard heat as part of a major remodel. However, I'm torn wether to have baseboard heating installed with PEX or COPPER. I've heard the copper retains the heat better than the pex, but it's much more expensive. Also pex is apparently...
by Allan12
Fri Feb 19, 2016 11:16 am
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

Update: Pushed this issue/situation up the corporate chain. According to them, in terms of returns I am in very good standing. The issue was me trying to return a purchase made from my gift card. The whole return was blocked and noted in the computer, so no matter the id used or store visited those ...
by Allan12
Thu Feb 11, 2016 6:02 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

2 of the items are circuit breakers. Apparently these items are a high theft item according to tinscale, however, having the receipt should negate this? Allan12: In my experience someone would not be blocked just because of a few no-receipt returns and then $50 worth of stuff. Your original post sa...
by Allan12
Thu Feb 11, 2016 3:54 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

How would they have handled the return if the customer didn't drive (didn't have a license)? They would need some other Govt-issued ID number, passport, or SSN. If you cannot produce that, return denied. I was rejected after trying to return the same 10 items Have you tried to return 1 or 2? Are yo...
by Allan12
Thu Feb 11, 2016 2:38 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

...I do shop there very frequently. I'd change that to used to shop there very frequently. Check out Lowe's, Ace, your local hardware store, or your local lumber yard. In this area, by far the best hardware/DIY store is a local one. As long as we continue to hand them our cash, they think nothing i...
by Allan12
Thu Feb 11, 2016 2:25 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

Update: When I wasn't able to initially make the return I did ask to speak to a manager who wasn't helpful at all. They basically deferred to the system, even though I had the receipt. I didn't push too hard since I didn't want to become a nuisance because I do shop there very frequently. I called t...
by Allan12
Wed Feb 10, 2016 9:49 am
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

Maybe it's not the number of times you've returned something, but the value of the items you've returned. Home Depot (or any other retailer) loses money when people purposefully over-buy then return what they don't use. The retailer not only has to refund the money they already thought they made bu...
by Allan12
Wed Feb 10, 2016 9:42 am
Forum: Personal Consumer Issues
Topic: New Washer - Frontload or HE Top Load
Replies: 48
Views: 5222

Re: New Washer - Frontload or HE Top Load

I'm currently in the process of shopping for a new washer and dryer for my parents. The current washing machine they had recently bit the dust and they've decided it's time to replace both with a matching washer and dryer. For perspective, I'm 29 and the washer and dryer were purchased when I was i...
by Allan12
Wed Feb 10, 2016 8:53 am
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

I went to return about $50 worth of electrical products and my return wasn't allowed. I had my receipt, but my drivers license was apparently blocked. IMO, refusing to issue a store credit on a return with a valid receipt is unreasonable. As I understand it, the fraud scheme involves returning item...
by Allan12
Tue Feb 09, 2016 9:46 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

I believe most, if not all, major store retailers, have similar policies in place to prevent fraud. You are returning things without a receipt, possibly as often as monthly. Even though you get getting store credit, this is no way to tell that the returned items were not shoplifted. Now you are usi...
by Allan12
Tue Feb 09, 2016 9:24 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Re: Banned from Home Depot Returns

I bought the items on Thursday last week and went to return them today, so only a few days later. It definitely has to do with the thought of manufactured spending/gift card fraud. It's just so disappointing that I can't clear my name. I literally had the receipt, the gift card that was used and was...
by Allan12
Tue Feb 09, 2016 4:56 pm
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 100
Views: 33199

Banned from Home Depot Returns

Hello, I've been doing a lot of work around my house, and sometimes I will buy an extra few pieces/parts and make the returns to Home Depot. In the past, I've made returns without receipts, and just use the store credits for future purchases. After the new year I traded in AMEX points for a $200 Hom...
by Allan12
Sat Feb 06, 2016 3:21 pm
Forum: Personal Consumer Issues
Topic: Renting Bobcat
Replies: 12
Views: 1435

Re: Renting Bobcat

Are there ANY underground lines on your property (gas/electric/cable)? If so, you could have the guy come out and mark them. And while talking to him ask if he'd be willing to scan for the line(s) under the pad. Explain the situation, be clear that you're not expecting him to "officially"...
by Allan12
Sat Feb 06, 2016 9:07 am
Forum: Personal Consumer Issues
Topic: Renting Bobcat
Replies: 12
Views: 1435

Re: Renting Bobcat

Thank you for the help. BTDT is right the lines aren't public utility lines but left off the old pool. My intention is to have them shut at the breaker, however the electrical is a little screwey so in case one line is still live I am curious what would happen? Also, any ideas with the previous lawn...
by Allan12
Sat Feb 06, 2016 8:02 am
Forum: Personal Consumer Issues
Topic: Renting Bobcat
Replies: 12
Views: 1435

Renting Bobcat

Hello, In my backyard there is a concrete patio which I want removed and the grass is not level due to the previous owner removing a pool. I am planning on hiring a bobcat and operator for day to correct these issues. However, I have no experience with these issues so had a couple of questions.... 1...
by Allan12
Thu Oct 22, 2015 9:45 am
Forum: Personal Finance (Not Investing)
Topic: ReDeem IBONDS
Replies: 3
Views: 532

Re: ReDeem IBONDS

Okay thanks guys. Never knew that about inflation and the bonds.

Will see how he wants to proceed.

-A
by Allan12
Thu Oct 22, 2015 9:16 am
Forum: Personal Consumer Issues
Topic: New Roof-Skylight Leaking
Replies: 7
Views: 967

Re: New Roof-Skylight Leaking

Yes he sealed the glass.

I understand what you are saying. Unfortunately, the skylight is tough to access in the attic.

I just need to wait for the next substantial rain fall.
by Allan12
Thu Oct 22, 2015 8:51 am
Forum: Personal Consumer Issues
Topic: New Roof-Skylight Leaking
Replies: 7
Views: 967

Re: New Roof-Skylight Leaking

Just one of those things (hopefully). Last time I got a new roof they didn't seal the chimney flashing properly, and I got some nice leaks. But they got it right the second time. Hopefully your experience will be the same. Had the very same experience. The company came back and he saw the skylight ...
by Allan12
Thu Oct 22, 2015 8:49 am
Forum: Personal Finance (Not Investing)
Topic: ReDeem IBONDS
Replies: 3
Views: 532

ReDeem IBONDS

A while back my father gave me a stack of bonds. My plan was always to use the Ibonds to make necessary home improvements. The time has come to make those home improvements, and I realized the bonds are ibonds not Series EE, that he purchased bi-weekly through a payroll deduction. He is listed as th...
by Allan12
Sun Oct 11, 2015 8:07 pm
Forum: Personal Consumer Issues
Topic: New Roof-Skylight Leaking
Replies: 7
Views: 967

New Roof-Skylight Leaking

Last week I got a new roof, which was a complete tear off with new plywood. They kept my skylight and supposedly sealed it properly and guaranteed it against leaks. The skylight never leaked before my roof was redone. Of course, the first rainfall the skylight leaked and caused my Sheetrock inside t...
by Allan12
Wed Aug 19, 2015 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Old Company Bankrupt- Small Pension
Replies: 1
Views: 387

Old Company Bankrupt- Small Pension

A company I previously worked for has filed for Chapter 11 bankruptcy. I understand the PBGC protects the pension to a certain extent.

My question is: given the bankruptcy will I now be given the option to receive a lump sum? Or is it status quo and I need to wait until I reach retirement age?

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