Search found 1940 matches

by Carefreeap
Thu Aug 17, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: How to compensate realtor if sold by owner?
Replies: 7
Views: 954

Re: How to compensate realtor if sold by owner?

I just gave my real estate agent a weekend at our cabin. I Value is about $350-$400. We have it in vacation rental service and I know she likes the area. I sold my condo to the folks who own the unit across the hall. I wanted to pay her an hourly "consultant fee" but her broker insisted on a 5% comm...
by Carefreeap
Thu Aug 17, 2017 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

I'll tell when it closes. More than three days after closing, I hope..... What's the significance of 3 days? Apparently, the buyer still has three days after close of escrow to cancel the sale. States may vary, but just in case the buyer is looking here... =) Please quote your source.
by Carefreeap
Sun Aug 13, 2017 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

Looks like watchnerd should hook up with the op and save the op some money :D The house should hit the MLS on Friday in the 19th Ave Park neighborhood of San Mateo. Open house is Fri, Sat, & Sun, I believe. :? :wink: Continued thread hijack; how did the open house do and how many offers? Around my ...
by Carefreeap
Thu Aug 10, 2017 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: First home purchase - required information - any suggestions
Replies: 10
Views: 908

Re: First home purchase - required information - any suggestions

If you are putting together a down payment from multiple accounts, get that pooled in one account NOW. The underwriter will ask for statements from every account and want an explanation for every transfer. When I sold my rental condo last month getting together paperwork from the various investment ...
by Carefreeap
Thu Aug 10, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house as a student
Replies: 27
Views: 1312

Re: Buying a house as a student

Keep renting. The flexibility of when to leave, not knowing where you might end up after school and the liquidity of your cash then is much more important than a few years equity. Which may not even be there in a few years. Housing markets can go down, too. +1 You don't want to get in a situation w...
by Carefreeap
Wed Aug 09, 2017 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Foreclosure No Longer on Credit Report
Replies: 4
Views: 714

Re: Foreclosure No Longer on Credit Report

I agree with the poster who said to speak with your loan officer. Many, many people were in this situation during the last recession. Your loan officer should have experience with this. My guess is that the underwriter will probably look for a short letter of explanation. FNMA, Freddie and FHA all a...
by Carefreeap
Mon Aug 07, 2017 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a current tenant?
Replies: 14
Views: 1282

Re: Buying a house with a current tenant?

Ugh, this seems to be turning into a nightmare. I don't want a 30 year mortgage at a higher rate just because I'm waiting eight months to move in. Let alone having to deal with insurance change-over as well. Seems like it might be better to offer the tenant $XYZ to move the end of their lease to ou...
by Carefreeap
Mon Aug 07, 2017 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: How do you deal with financial anxiety?
Replies: 40
Views: 2860

Re: How do you deal with financial anxiety?

A glass of red wine solidifies my belief. :sharebeer Liquidity is a great thing. Amen Proper diversification is also important. A glass of white wine. Sometimes US, sometimes French. French rose is nice choice. Not the sweet ones, but the drier variety. :thumbsup Something between a dry red and a d...
by Carefreeap
Mon Aug 07, 2017 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a current tenant?
Replies: 14
Views: 1282

Re: Buying a house with a current tenant?

You will have a loan at a non owner-occupied rate and may need to put more than 20%. You will need a rental insurance policy. You will want to do a walk through just before escrow closes and get confirmation of the state of the premises with the tenant. You risk having to do an eviction at the end o...
by Carefreeap
Mon Aug 07, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: New physician with debt and cash
Replies: 15
Views: 1543

Re: New physician with debt and cash

I don't think the amount of debt for the future return is that bad but those interest rates are pretty high relatively speaking. Can you refinance any of it? A reason for staying near family is to get some support (childcare) at a reasonable price. Has this option been explored and agreed upon? I th...
by Carefreeap
Mon Aug 07, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Buying parents home and estate planing
Replies: 17
Views: 1219

Re: Buying parents home and estate planing

Another vote for exploring the reverse mortgage and the downsizing options. With such a disparity in age, I'm assuming Dad is 80 and mom is 67, you are likely to have some opposing issues. Dad may need some physical help in the next few years but Mom might last another 20+. Is the house elder friend...
by Carefreeap
Sat Aug 05, 2017 6:00 pm
Forum: Personal Consumer Issues
Topic: Do I want a landscape architect? If not, what?
Replies: 8
Views: 845

Re: Do I want a landscape architect? If not, what?

You might go with a local landscape contractor rather than a landscape architect. Most of that area is going to be taken up with a patio or some other hard surface to create your "outdoor" room. Probably your biggest concern is to make sure the drainage is right, then easy care plants that won't eat...
by Carefreeap
Sat Aug 05, 2017 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Why no federal income tax obligation?
Replies: 31
Views: 2724

Re: Why no federal income tax obligation?

I really don't understand people advocating moving to a LCOLA where retirees don't know anyone and far away from family just to save a few $$$ on income taxes. That thought process seems to have one's priorities mixed up. In my book, money is an important tool but not an end unto itself. Perhaps so...
by Carefreeap
Sat Aug 05, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Why no federal income tax obligation?
Replies: 31
Views: 2724

Re: Why no federal income tax obligation?

A married couple can have approx 96K of QDs and LTCG and owe no tax if that's their sole income (a few thousand more if both are over 65). We've found this as well. Investment income under $100k with various deductions results in almost no Fed or State (CA) tax. I'm not fixated on paying no tax, a ...
by Carefreeap
Sat Aug 05, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Why no federal income tax obligation?
Replies: 31
Views: 2724

Re: Why no federal income tax obligation?

sport wrote:
Gill wrote:Sometimes having no or very little taxable income is an opportunity to realize gains or ordinary income and have it taxed at a very low tax rate.
This could include conversions from a traditional IRA to a Roth IRA.
That's how we've looked at it. Low income years means Roth conversions.
by Carefreeap
Thu Aug 03, 2017 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Any website to get paid carpooling?
Replies: 12
Views: 962

Re: Any website to get paid carpooling?

You might check with your employer to see if there is transit or carpool employee incentive as part of the County's congestion relief. It's been a long time since I had to commute (left the Bay Area for nine years in 2003). IIRC I would get about $30/mth. Since I would commute with either my husband...
by Carefreeap
Thu Aug 03, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Beach condo investing
Replies: 32
Views: 4301

Re: Beach condo investing

I'm not brave enough to open up a small business Being a landlord is a small business (unless it is a medium or large business) even if you hire someone to do most of the work. I don't understand why so many people seem to think it is such an easy and low-risk enterprise. Seems like the 2008-2009 f...
by Carefreeap
Thu Aug 03, 2017 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

Heck my husband is like that and couldn't wrap his head around why I hiked the entire length of the John Muir Trail by myself last year. Different strokes for different folks. A woman hiked around 200 miles by herself? Really? And he let you go...what the kittens...??? How long did it take you? Wow...
by Carefreeap
Thu Aug 03, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Aging in place and landlord exit strategies
Replies: 13
Views: 2130

Re: Aging in place and landlord exit strategies

Nords, Can you tell us what your landlording problems are? It sounds like you have a great property and one turnover in 8 years is amazing. We've sold two rentals over the last two years in order to simplify our lives. We still have two, one of which is in vacation rental service and managed by the ...
by Carefreeap
Thu Aug 03, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Structuring payoff offer for house in foreclosure, above water
Replies: 27
Views: 2761

Re: Structuring payoff offer for house in foreclosure, above water

Has the family talked about getting some kind of guardianship for this person? It might be possible if the family member's doctors were willing to cooperate. The individual distrusts doctors, and won't see one. A separate friend had similar problems. The parents were able to get help only after the...
by Carefreeap
Thu Aug 03, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

Heck my husband is like that and couldn't wrap his head around why I hiked the entire length of the John Muir Trail by myself last year. Different strokes for different folks. A woman hiked around 200 miles by herself? Really? And he let you go...what the kittens...??? How long did it take you? Wow...
by Carefreeap
Wed Aug 02, 2017 10:59 am
Forum: Personal Finance (Not Investing)
Topic: How far off are Zillow's estimates?
Replies: 79
Views: 6775

Re: How far off are Zillow's estimates?

Have a neighbor with a home with a shop on the lower level with attached bath. Owner changed Zillow input to call the shop a 4th bedroom and the zestimate immediately went up 40k. The owner changed nothing about this space other than the description. No one would want to have this space as their be...
by Carefreeap
Wed Aug 02, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: How far off are Zillow's estimates?
Replies: 79
Views: 6775

Re: How far off are Zillow's estimates?

I know the answer is probably "pretty far" but I'm wondering just how far...? The Zillow market report for my zip code indicates the median list price is about $515/sq ft. (They don't break down the actual sold price, only the median list price of properties for sale, and the median list ...
by Carefreeap
Wed Aug 02, 2017 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Aging in place and landlord exit strategies
Replies: 13
Views: 2130

Re: Aging in place and landlord exit strategies

How old are you?

Why wouldn't you move into your "ideal" home during the next contract termination?

Do you have children and if so, how old and where do they live?
by Carefreeap
Wed Aug 02, 2017 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

It's a toy says the owner of a cabin of 15 years. There have been plenty of threads about cabins/second homes. From a financial point of view you are better off investing the money you pay for a vacation home and using that money to pay for a two week vacation wherever you like. And if your wife is...
by Carefreeap
Wed Aug 02, 2017 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

I'll give you a reality based reply. A cabin in the woods can be a great thing if it really is a cabin and not a house. Here is what I mean. A cabin is where you go when there is inclement weather - period. It is not something you hang out in. There should be no yard you maintain...the surrounding ...
by Carefreeap
Tue Aug 01, 2017 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

If you're a big do-it-yourselfer, you are at risk of taking on an extra 50 hour a week(end) job. I know several people with vacation homes in the mountains of New Hampshire and on a Monday morning I talk with them about what they did at their relaxing get-away. I usually walk away exhausted, just l...
by Carefreeap
Tue Aug 01, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Sell inherited investments to pay off mortgage?
Replies: 23
Views: 1988

Re: Sell inherited investments to pay off mortgage?

I'm always curious, though, why being in the property long-term would make a mortgage more or less advantageous. First, plans and circumstances change. Also, a fixed mortgage is basically a negative bond with both an implied put (early payoff) and call (sale). Neither of those factors appear terrib...
by Carefreeap
Tue Aug 01, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Cabins - "investments" or "consumptive purchases"
Replies: 38
Views: 2902

Re: Cabins - "investments" or "consumptive purchases"

It's a toy says the owner of a cabin of 15 years. There have been plenty of threads about cabins/second homes. From a financial point of view you are better off investing the money you pay for a vacation home and using that money to pay for a two week vacation wherever you like. And if your wife isn...
by Carefreeap
Tue Aug 01, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Structuring payoff offer for house in foreclosure, above water
Replies: 27
Views: 2761

Re: Structuring payoff offer for house in foreclosure, above water

The family elected to pay the back amount to pull the 1st out of foreclosure, and stop the fee accumulation. That just happened. There was no indication the 1st holder was willing to negotiate. Let me be clear: the family wants to keep the individual in the house even if it is expensively stupid to...
by Carefreeap
Tue Aug 01, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Sell inherited investments to pay off mortgage?
Replies: 23
Views: 1988

Re: Sell inherited investments to pay off mortgage?

How old are you and how long do you plan on working?
by Carefreeap
Mon Jul 31, 2017 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

Looks like watchnerd should hook up with the op and save the op some money The house should hit the MLS on Friday in the 19th Ave Park neighborhood of San Mateo. Open house is Fri, Sat, & Sun, I believe. Continued thread hijack; how did the open house do and how many offers? Around my 'hood the...
by Carefreeap
Sat Jul 29, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

I see these Bay Area housing posts and I cringe. More power to the people that live there. What I find hard to believe is that there are no "glamorous" tech jobs in places such as Denver, Phoenix, Austin, Atlanta, Research Triangle, Dallas, Minneapolis or even Chicago where one could pres...
by Carefreeap
Sat Jul 29, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 20
Views: 1171

Re: 1031 Exchange

I am not a CPA or anything just a landlord. If you read the IRS Pub (523 I believe) on selling housing and scroll WAY down (as several on here have not and gotten confused) it has a work sheet at the bottom on how to truncate gains of rental vs owned periods. In short. Yes of course you have to pay...
by Carefreeap
Sat Jul 29, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

Any advice bogleheads? What have others in our situation done in the past? I'd consider RSUs as part of your income. It depends on which company you work for, but the big ones will give you refreshers every year to maintain your expected income level. In other words, if you work for one of those co...
by Carefreeap
Thu Jul 27, 2017 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Another bay area housing thread..
Replies: 130
Views: 10268

Re: Another bay area housing thread..

Pet re-locators packed up my cats on Monday of this week, movers packed up my house yesterday, and me, the dog, and the wife are on the road driving to the new job in Seattle. Bought my house in 2010 for a hair over $700k. It should go on the market next week. We'll see how we do. Oh, we have to st...
by Carefreeap
Thu Jul 27, 2017 1:46 pm
Forum: Personal Consumer Issues
Topic: Buying a vacation home in San Diego
Replies: 14
Views: 1629

Re: Buying a vacation home in San Diego

I grew up in Encinitas and have lived all around San Diego. If I were in your situation, I would buy in Encinitas. To me, it's a great balance of all of the places that you've listed. It's not as expensive as Del Mar/Solana Beach, but is also considered a "higher end" place to live. Carls...
by Carefreeap
Thu Jul 27, 2017 10:29 am
Forum: Personal Consumer Issues
Topic: Is this rental house/vacation property be worth considering?
Replies: 22
Views: 1409

Re: Is this rental house/vacation property be worth considering?

Vacation rental properties aren't recommended by this forum because they rarely make sense from a financial point of view. As an owner of a vacation rental property of 15 years I concur! They can make sense for reasons other than financial. In our case, the property in question was my FIL's former h...
by Carefreeap
Thu Jul 27, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Best Legal Structure?
Replies: 23
Views: 1881

Re: Rental Property - Best Legal Structure?

I think with the OP's situation s/he is better off with obtaining a personal umbrella insurance policy. I'm insured with State Farm and they will insure up to four rental units (we were up to 5 at one point). My $2M policy cost about $450/year. Since you only have one property and it's a SFR make su...
by Carefreeap
Thu Jul 27, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Question about buying Mom's condo & Medicaid eligibility
Replies: 11
Views: 908

Re: Question about buying Mom's condo & Medicaid eligibility

I am considering buying it myself to live in it as a vacation property (it is in Arizona). Mom will then use the proceeds to pay her assisted living expenses until depleted. My understanding is that the property must be liquidated before she can qualify for Medicaid anyway, since it is not her prim...
by Carefreeap
Wed Jul 26, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Question about buying Mom's condo & Medicaid eligibility
Replies: 11
Views: 908

Re: Question about buying Mom's condo & Medicaid eligibility

I'd get an appraisal. They are generally between $400-$500.

You need to research your state's eligibility Medicaid requirement but generally the look back period is 5 years. How long are you estimating the proceeds from the sale will last?
by Carefreeap
Wed Jul 26, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2377

Re: Do people really buy foreclosures unseen?

I work with a number of investors and we avoid these properties like the plague. Often the bank wants to hand off their problems to an investor and let them try to evict the occupants. Sure, they can be good deals when everything goes smoothly but, I have also read about evictions that took 5 years...
by Carefreeap
Wed Jul 26, 2017 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2377

Re: Do people really buy foreclosures unseen?

The lender is likely in the process of evicting the tenants. It is a highly adversarial situation. They may be the former owners or tenants that didn't know about the foreclosure. There's nothing illegal about knocking on the door or leaving a note but be pleasantly surprised if you get cooperation...
by Carefreeap
Tue Jul 25, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2377

Re: Do people really buy foreclosures unseen?

The lender is likely in the process of evicting the tenants. It is a highly adversarial situation. They may be the former owners or tenants that didn't know about the foreclosure. There's nothing illegal about knocking on the door or leaving a note but be pleasantly surprised if you get cooperation....
by Carefreeap
Tue Jul 25, 2017 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Financial Characteristics of Physicians
Replies: 24
Views: 2151

Re: Financial Characteristics of Physicians

Not a doctor, but I have lots of friends and acquaintances who are. Plus I often represent (as a lawyer) fraudsters who make a living ripping off doctors. My observations: Doctors are, in general, extremely busy, stressed, and often mentally distracted. (There's also the ego issue, which the prior ...
by Carefreeap
Tue Jul 25, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Driveway On Neighbours Land
Replies: 30
Views: 2051

Re: Driveway On Neighbours Land

The fence was there when we built the home. The builder owned the land and built the home and we simply purchased the home from them. So, the builder was also the owner of the property. It seems to me, then, that the builder should bear complete responsibility for this "problem". The buil...
by Carefreeap
Tue Jul 25, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Financial Characteristics of Physicians
Replies: 24
Views: 2151

Re: Financial Characteristics of Physicians

Both great posts. I'll add that unfortunately one problem many physicians have is a level of arrogance from thinking s/he is the smartest person in the room and a certain distain for those who haven't accomplished what s/he has. That attitude leads them into situations where they get what I call &qu...
by Carefreeap
Mon Jul 24, 2017 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Parents: CFP or Elder Law Attorney
Replies: 18
Views: 1552

Re: Helping Parents: CFP or Elder Law Attorney

My father who only has SS and a $100/mth pension and no assets needed the advice of an Elder Law specialist to maintain his benefits for poverty level Medicaid assistance. I admit to being curious as to what advice an Elder Law specialist gives to a person who only has SS and a $100/month pension a...
by Carefreeap
Mon Jul 24, 2017 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get mortgage if buying house out of state?
Replies: 2
Views: 231

Re: Where to get mortgage if buying house out of state?

I refinanced my AZ house a few years ago and we live in CA. We used BofA which is licensed in both states. I tried to get a local lender to give me a bid but they weren't licensed to do business in AZ. I called the local lender when I sold my San Diego area condo to some friends who live in the Wash...
by Carefreeap
Mon Jul 24, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Vacation rental: to sell or to keep?
Replies: 5
Views: 492

Re: Vacation rental: to sell or to keep?

Dear Bogleheads, Your advice is needed! I have a seasonal (Apr-mid Oct.) rental condo in Cape Cod, purchased 12 yrs ago at the hype of the real estate market for $229k. It was never cash flow positive until I paid off the mortgage last year, and now I have NOI somewhere close to $6k/year.The honest...