Search found 441 matches

by boglerocks
Sun Dec 04, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 46
Views: 3797

Re: Not happy with my realtor

momvesting, that's a really interesting idea. Maybe there's a realtor with a lot of experience selling in that particular area. Zillow shows several recent sales but I don't see any way to find out who the listing agent was. Is there a way to get that info?
by boglerocks
Sun Dec 04, 2016 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 46
Views: 3797

Re: Not happy with my realtor

Maybe I'm expecting too much. Should I feel great about my realtor? I don't and feel like I should, but maybe I'm not supposed to. Would finding a realtor I feel great about be unusual? Why do most people hire a realtor instead of a real estate attorney? What is the advantage of a realtor over an at...
by boglerocks
Sat Dec 03, 2016 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 46
Views: 3797

Re: Not happy with my realtor

He knows I'm for real because I gave him instructions to tell the seller of the last house for sale in the neighborhood that I was about to make an offer to give me time to make the offer and it had just gone into escrow which has since closed.
by boglerocks
Fri Dec 02, 2016 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 46
Views: 3797

Re: Not happy with my realtor

I'm a buyer and he's shown me 5 or 6 houses. I'm looking in a particular and relatively small neighborhood. Would it be unreasonable or inappropriate for me to ask him to contact the homeowners there to see if any might be interested in selling? Maybe I should stop thinking of him as my advocate. Th...
by boglerocks
Fri Dec 02, 2016 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Not happy with my realtor
Replies: 46
Views: 3797

Not happy with my realtor

I'm to the point where I'd like to change realtors (although I don't have another one in mind). I feel like it's me vs my realtor instead of us together vs the market. Two things are preventing me from bailing out. The most important in this case is that I'm relatively new in town (population <100k)...
by boglerocks
Fri Dec 02, 2016 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

Now I'm second-guessing myself as far as the wisdom of making a relatively high-risk investment like private equity with IRA funds. If the shares in my IRA go to zero, I can't write them off and deduct future gains against the loss. For that reason, is it a better strategy to make high-risk investm...
by boglerocks
Thu Dec 01, 2016 3:44 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

Now I'm second-guessing myself as far as the wisdom of making a relatively high-risk investment like private equity with IRA funds. If the shares in my IRA go to zero, I can't write them off and deduct future gains against the loss. For that reason, is it a better strategy to make high-risk investme...
by boglerocks
Thu Dec 01, 2016 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: Sell in taxable account and buy in non-taxable?
Replies: 4
Views: 408

Re: Sell in taxable account and buy in non-taxable?

Thanks, I didn't realize that a wash sale applies across separate accounts.

Since you can't write off a loss in an IRA, are those accounts better suited to low-risk investments?
by boglerocks
Thu Dec 01, 2016 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Sell in taxable account and buy in non-taxable?
Replies: 4
Views: 408

Sell in taxable account and buy in non-taxable?

One of the stocks I own dropped on bad earnings and I'd like to buy more at the lower price. Should I sell the stock in my taxable account and buy it in my IRA so I can use the loss to offset future gains? The only downside to this I can think of is if it drops further and I end up selling it in my ...
by boglerocks
Fri Nov 25, 2016 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

Ouch, check out these Pensco reviews:

https://www.yelp.com/biz/pensco-trust-c ... -francisco

Does anyone know of another self-directed IRA custodian?
by boglerocks
Fri Nov 25, 2016 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

It's a software company. Neither I nor anyone I know are involved with the company in any way. The reason I want to use this money instead of after-tax money is I find myself with a $300k+ IRA (at 35 yo) due to a good stock pick which I've cashed out of for now. The minimum for the private deal is $...
by boglerocks
Fri Nov 25, 2016 11:46 am
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

My CPA recommended Pensco for this. I called them and they were great to talk to and were able to answer all of my questions. I plan to form an LLC and use it to hold my funds in the Pensco IRA account which I will transfer from my SEP IRA. The fees will be about $500/year for $100k in IRA funds. An...
by boglerocks
Tue Nov 15, 2016 6:10 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Re: Move IRA to private shares?

I believe a custodian who will allow this is called a self directed IRA custodian. Any recommendations or ideas for how to choose one?

What degree of trust am I placing in a custodian with whom I deposit shares of a privately-held company? Can they run off with my deposit or otherwise mismanage it?
by boglerocks
Tue Nov 15, 2016 4:37 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 15
Views: 1012

Move IRA to private shares?

Is there any way to shift some of the money in my IRA to shares in a private company without just doing a withdrawal and paying taxes and penalties?
by boglerocks
Mon Nov 14, 2016 10:09 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

Re: IRA withdrawal taxation

I didn't know about Substantially Equal Periodic Payments. Sounds too good to be true. So I can withdraw from my TIRA and/or SEP IRA at age 35 without penalty as long as I continue do so until I'm 59 1/2 and in amounts defined by the IRS? Yes, but the amounts will be a relatively small percentage o...
by boglerocks
Mon Nov 14, 2016 8:42 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

Re: IRA withdrawal taxation

I didn't know about Substantially Equal Periodic Payments. Sounds too good to be true. So I can withdraw from my TIRA and/or SEP IRA at age 35 without penalty as long as I continue do so until I'm 59 1/2 and in amounts defined by the IRS?
by boglerocks
Sun Nov 13, 2016 11:54 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

Re: IRA withdrawal taxation

I think the question I have to answer at this point is should I contribute to my IRA accounts going forward. I'm 35 and I have ~$325k in there. At some point it must make sense to stop locking up my money for decades.
by boglerocks
Sun Nov 13, 2016 11:17 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

Re: IRA withdrawal taxation

David, the stock I chose doesn't pay dividends but your summarizing comment here certainly applies: What is going on here is that a dollar in a TIRA may be worth less than a dollar in a taxable account, but it costs less out of pocket to put a dollar in a TIRA. Still I can't shake the feeling that I...
by boglerocks
Sun Nov 13, 2016 10:00 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

Re: IRA withdrawal taxation

Ouch, I'm going to come out way behind. If I contributed $50k to my TIRA while in the 28% tax bracket, I would have deducted ~$14k in tax. If that $50k grows into $500k and I withdraw $50k/year with no other income then I'll pay $125k in tax (25% rate). If I had put the $50k into a regular brokerage...
by boglerocks
Sun Nov 13, 2016 8:57 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawal taxation
Replies: 17
Views: 1177

IRA withdrawal taxation

From what I understand, holding stock for over a year means I pay 15% capital gains tax when I sell it, but when I sell stock in an IRA and withdraw it then I pay regular income tax on the withdrawal which could be as high as 39.6% currently. There's a big winner in my IRA account which could increa...
by boglerocks
Tue Nov 08, 2016 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

I don't see how anyone could avoid paying property taxes. I'll use an option agreement to sidestep the issue I originally posted about. I'll put up with a lot of crap to have access to brilliant ideas like that.
by boglerocks
Tue Nov 08, 2016 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

abuss368 wrote:how will the interest expense (and interest income) be reported?


However it is normally reported. My goal is not to hide the transaction from the government since they automatically deserve to know everything. :)
by boglerocks
Tue Nov 08, 2016 8:19 am
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

You could buy an option to purchase the vacant land from the owner for a set price within a certain period, say 6 to 12 months. Say you pay $1,000 for that written option with the owner of the vacant land agreeing to credit the fee you paid for the option towards the purchase of the land should you...
by boglerocks
Mon Nov 07, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

I think if you buy the home first, then after closing, purchase the vacant land with the seller holding the note, then you will not be lying on the mortgage application ( which is a no-no, and they will probably find out anyway). Now, what the seller does with your note, I don't know if it goes pub...
by boglerocks
Mon Nov 07, 2016 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

I think if you buy the home first, then after closing, purchase the vacant land with the seller holding the note, then you will not be lying on the mortgage application ( which is a no-no, and they will probably find out anyway). Now, what the seller does with your note, I don't know if it goes pub...
by boglerocks
Mon Nov 07, 2016 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

Re: keeping a Private Loan private

I would like to think that two individuals can enter into a private transaction in this country and for the transaction to remain exactly that, but perhaps that's wishful thinking.
by boglerocks
Mon Nov 07, 2016 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: keeping a Private Loan private
Replies: 29
Views: 2163

keeping a Private Loan private

I'd like to buy a vacant lot as an investment and a house as my primary residence. I could buy both with cash if I liquidate my investments but I want to keep them compounding so I want to borrow the most I can for these purchases. I will need to borrow from a bank for the home loan but the seller o...
by boglerocks
Mon Oct 31, 2016 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-approval for a mortgage
Replies: 4
Views: 553

Pre-approval for a mortgage

I've found a lender I like and everything sounds like it will work. I'm going to get pre-qualified shortly but a pre-qualification isn't worth much from what I understand and I should get a pre-approval ASAP. I haven't compiled a profit & loss statement for my business for 2016 YTD so that will ...
by boglerocks
Mon Oct 31, 2016 9:04 am
Forum: Personal Finance (Not Investing)
Topic: 2nd mortgage for an investment
Replies: 4
Views: 718

Re: 2nd mortgage for an investment

Why do you want to buy this commercial lot? Is it for your business? I looked at the costs involved with development to move my small company in but it's too pricey for now even with an SBA loan. I think the location has great potential though so I'd like to hold it as an investment. Have you asked...
by boglerocks
Sun Oct 30, 2016 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd mortgage for an investment
Replies: 4
Views: 718

2nd mortgage for an investment

I've been talking to a good lender about financing for my first house which I'm currently shopping for. My business income will allow me to borrow enough to fund about half of the house so I plan to put the other 50% down. I have a lot in the way of liquid investments and the lender is willing to us...
by boglerocks
Sun Oct 30, 2016 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

You guys were right. It doesn't feel like the end of the world at this point. :)
by boglerocks
Thu Oct 27, 2016 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

Thanks for chiming in everyone. I feel like I'm gaining valuable experience just by reading the stories in this thread. My realtor did encourage me to get a pre-approval letter from the beginning and I've been sifting through lenders and then getting specific with my chosen lender since then. It's j...
by boglerocks
Wed Oct 26, 2016 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

Does it ever work to offer the buyer more than they paid for the property once escrow closes? My realtor pretty much laughed me off when I mentioned this.
by boglerocks
Wed Oct 26, 2016 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

You'd be amazed how many properties fall out of escrow. Let the agent know you want to put in a backup offer (some will accept it, others wont; but either way your interest has been noted) and see what happens. I wouldn't count on anything but you never know. My agent says a backup offer can someti...
by boglerocks
Wed Oct 26, 2016 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

You say really unique. Is that unique as in special and appreciated, or unique as in highly customized to just a few people's tastes. Realtors being realtors they think about resale when they walk through a house. Some "really unique" properties are very hard to sell. What makes it unique...
by boglerocks
Wed Oct 26, 2016 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Re: Dream house sold yesterday :(

Why did you wait to get the green light from the bank ? Usually, you make an offer with a finance contingency if you want the property. Didn't your realtor tell you that ? My understanding is that you get a pre-qualification letter before you make an offer on a house. My banker and I just came to t...
by boglerocks
Tue Oct 25, 2016 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Dream house sold yesterday :(
Replies: 41
Views: 6816

Dream house sold yesterday :(

My family and I have been looking at a property and when I got the green light from the bank I contacted my realtor and they said it went into escrow yesterday unfortunately. Any advice guys? It was a really unique property. Strangely, my realtor seemed to be steering us away from this property from...
by boglerocks
Sat Oct 22, 2016 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Choosing a mortgage lender
Replies: 24
Views: 1436

Re: Choosing a mortgage lender

I pulled my credit score from creditkarma.com and it's 710. Credit utilization of 37% is what's holding me back. Every month I charge a lot of business expenses to credit cards and every month I pay them off, but the card balances that show up on my credit report could be snapshot'ed at any time. M...
by boglerocks
Fri Oct 21, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a mortgage lender
Replies: 24
Views: 1436

Re: Choosing a mortgage lender

Thank you everyone. I have a list of local lenders I'm going to contact along with Chase and Wells Fargo. I pulled my credit score from creditkarma.com and it's 710. Credit utilization of 37% is what's holding me back. Every month I charge a lot of business expenses to credit cards and every month I...
by boglerocks
Fri Oct 21, 2016 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to buy a house
Replies: 15
Views: 1802

Re: Preparing to buy a house

Great advice all around, thank you everyone. Meg77, I've been going over your post and your blog all day. Great advice there. So I should get a pre-approval letter ASAP before choosing a house, and then get a pre-qualification letter once I've chosen a specific house? I'm a little confused there. At...
by boglerocks
Fri Oct 21, 2016 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Choosing a mortgage lender
Replies: 24
Views: 1436

Re: Choosing a mortgage lender

This is for a purchase. My realtor was talking about this yesterday. He said stay away from online lenders because they'll fiddle around at the last second and screw everything up. He seems to be steering me toward a broker he likes. He also said I should be shooting for 3.75% for a $1m loan. Can I ...
by boglerocks
Thu Oct 20, 2016 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a mortgage lender
Replies: 24
Views: 1436

Choosing a mortgage lender

Are there any considerations to make when choosing a mortgage lender besides the rate? My realtor recommended a couple of people locally and I've contacted them. I've had checking/savings with Chase for a long time so I'm planning to walk into my local branch and ask there. Would it be good to conta...
by boglerocks
Thu Oct 20, 2016 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to buy a house
Replies: 15
Views: 1802

Re: Preparing to buy a house

What is a good, quick, and safe method for obtaining your credit report?
by boglerocks
Tue Oct 18, 2016 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage payments over 40% of income
Replies: 8
Views: 2025

Re: Mortgage payments over 40% of income

It sounds like if I get the business loan first I could be in trouble because it would reduce the size of the mortgage payments I would be evaluated as capable of taking on by a mortgage lender. So maybe I should get the mortgage first and business loan second?
by boglerocks
Mon Oct 17, 2016 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage payments over 40% of income
Replies: 8
Views: 2025

Re: Mortgage payments over 40% of income

Since that 42% max is just for home loans, would it be advantageous to get the home loan first and then get the business loan afterward?
by boglerocks
Mon Oct 17, 2016 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payments over 40% of income
Replies: 8
Views: 2025

Mortgage payments over 40% of income

I'd like to buy a house to move my family into and a commercial property to move my business into. I have about $1.5m in liquid investments and last year's business income was $110k. I read that I can only borrow enough so that my payments are 35-40% of my income. I'd like to borrow more than that a...
by boglerocks
Thu Oct 13, 2016 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing to buy a house
Replies: 15
Views: 1802

Preparing to buy a house

It looks like I won't be able to put off buying my first home much longer. My family is growing, the house we're renting now is too small, and renting again doesn't sound appetizing. We've contacted a real estate agent we have a connection with. I'm planning to put 20% down and finance the rest. Wha...
by boglerocks
Tue Sep 27, 2016 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Use a house as a "down payment" on a house?
Replies: 6
Views: 851

Re: Use a house as a "down payment" on a house?

If I buy an inexpensive house with cash, can I use my full ownership of that house as security to get a loan to buy a more expensive house instead of making a down payment on the more expensive house? Because of the nature (and details) of getting a mortgage, I believe you would be much better off ...
by boglerocks
Tue Sep 27, 2016 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Use a house as a "down payment" on a house?
Replies: 6
Views: 851

Use a house as a "down payment" on a house?

If I buy an inexpensive house with cash, can I use my full ownership of that house as security to get a loan to buy a more expensive house instead of making a down payment on the more expensive house?
by boglerocks
Wed Aug 24, 2016 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Get a mortgage even if not needed?
Replies: 41
Views: 3851

Re: Get a mortgage even if not needed?

The risk actually comes from owning a house when your income is variable and can disappear. Again, I do not know how stable and lucrative your income is. For example a business setting up home theaters will dry up very quick in a recession. If you are a physician, you will always have work. Worst c...

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