Search found 267 matches

by rocket354
Fri Sep 13, 2019 7:53 pm
Forum: Personal Consumer Issues
Topic: High-dollar Plumbing Issue Decision
Replies: 18
Views: 2067

Re: High-dollar Plumbing Issue Decision

Hi, everyone. Thanks for all the responses. To address a few items that have come up: 1) I've had a lot of back and forth (one call and multiple emails) with #5 and I have a contract in writing that spells out the work to be done, and materials to be used (PVC pipe). I also have written, comprehensi...
by rocket354
Fri Sep 13, 2019 4:02 pm
Forum: Personal Consumer Issues
Topic: High-dollar Plumbing Issue Decision
Replies: 18
Views: 2067

High-dollar Plumbing Issue Decision

I am HOA president for a condo complex, which has four buildings. The buildings are old and have cast-iron sewer piping that needs to be replaced. I have been getting bids from plumbers, all licensed and insured. The bids went like this (round numbers): 1) $50,000, 10 year parts and labor warranty 2...
by rocket354
Sat Sep 07, 2019 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 41
Views: 3934

Re: Refinance Mega Thread

Yesterday I locked a 3.5% 30-year cash-out mortgage with Lenderfi. Total loan fees are $298 + escrow which will be around $4293. I consider escrow to pretty much be money I need to pay anyway and $2,800 of it is already in my current escrow that will come back. Also, if rates are down by .25% or mo...
by rocket354
Wed Aug 28, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Paying off 0% car loan early
Replies: 52
Views: 2402

Re: Paying off 0% car loan early

It’s incorrect to just come out and state it makes no financial sense to pay off the 0% loan in all cases. Lien holders are going to require full coverage auto insurance. Perhaps someone prefers to take the added liability risk personally by getting just state liability-only minimums for coverage t...
by rocket354
Sun Aug 18, 2019 11:42 pm
Forum: Personal Finance (Not Investing)
Topic: Are we financially okay?
Replies: 64
Views: 8195

Re: Are we financially okay?

Thanks for the feedback, everyone. We will look and see how we can shave some expenses. Interest income should be about $40k this year. Mortgage is @ 4%, will look into refi. Within the stock portfolio, about $125K is 529. When we rebalance our portfolio, will probably put cash into a Vanguard inde...
by rocket354
Fri Aug 16, 2019 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance? Recast?
Replies: 69
Views: 2916

Re: Mortgage refinance? Recast?

Folks, I have 300K 3.49% 30 years mortgage. I am about 6 years into this mortgage. Let's assume that the interest rate goes down further. So, I have the following options: A) Refinance to another 30 years mortgage at the lower interest rate. In this case, my monthly payment will go down and I proba...
by rocket354
Tue Aug 13, 2019 12:40 pm
Forum: Personal Consumer Issues
Topic: Is this 25% savings?
Replies: 67
Views: 4926

Re: Is this 25% savings?

It is 20% savings. $160 is 20% less than $200. I don't see why the 20/25% differentiation should make that much of a difference, but people will note that it's really 20% savings and conclude one or both of 1) you guys don't know how to do math, or, 2) you guys are deceptive. Either will undercut th...
by rocket354
Wed Jul 24, 2019 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Creative, "outside the box" to lower auto expenses?
Replies: 63
Views: 3491

Re: Creative, "outside the box" to lower auto expenses?

My response to the people who bike/scooter around...does the cost savings take into account increased personal risk? Serious question, as I'm curious what others' experiences have been. I'm a big fan of saving money would love to lower my transportation costs, but any time I'm on a bike on public st...
by rocket354
Sun Jul 21, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: MBA worth it?
Replies: 93
Views: 7122

Re: MBA worth it?

Get an MBA only if you know why you are doing it. Career change is a legitimate reason, but it's not something to just do on a whim. Also, being able to elegantly and succinctly communicate why you want an MBA will help you get into a better program. As far as costs go, estimates you'll find online ...
by rocket354
Sat Jul 13, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Have $3m at 33, "approach to career" advice needed
Replies: 145
Views: 30489

Re: Have $3m at 33, "approach to career" advice needed

but I just felt too busy and wasn’t happy day to day. ... Most people you come into contact with day to day have no experience having any skin in the game in life, and are usually just showing up to get a paycheck. Yes, this is the sad reality with which most people live their lives. "The mass of m...
by rocket354
Wed Jul 10, 2019 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone use Guaranteed Rate for a mortgage?
Replies: 1
Views: 254

Re: Anyone use Guaranteed Rate for a mortgage?

I have dealt with almost a dozen lenders. I used Guaranteed Rate for a refi a few years ago. They were perfectly fine, overall. Good rate, although the person tasked with collecting all my info was a little, shall we say, green? Inexperienced? But no issues or gotchas or anything like that.
by rocket354
Thu Jul 04, 2019 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Wealthfront Cash Account Application Asking too many personal questions?
Replies: 39
Views: 3582

Re: Wealthfront Cash Account Application Asking too many personal questions?

Login, password, and security questions from current bank account
Everything but this sounds normal. I was literally just going to open a wealthfront account for that 2.57%. Now I'm reconsidering. Has anyone else been asked that?
by rocket354
Sun Jun 30, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Paying debt weekly rather than monthly
Replies: 21
Views: 1751

Re: Paying debt weekly rather than monthly

Mortgages still accrue interest daily. It just gets reported monthly. False. Mortgages are a rather unique debt instrument today in that regard. Paying principal on day 2 of a month vs. day 29 will not change the amount of interest you pay for that month. Er, have you ever bought or sold a home wit...
by rocket354
Sun Jun 30, 2019 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Paying debt weekly rather than monthly
Replies: 21
Views: 1751

Re: Paying debt weekly rather than monthly

Mortgages still accrue interest daily. It just gets reported monthly. False. Mortgages are a rather unique debt instrument today in that regard. Paying principal on day 2 of a month vs. day 29 will not change the amount of interest you pay for that month. Er, have you ever bought or sold a home wit...
by rocket354
Sun Jun 30, 2019 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Paying debt weekly rather than monthly
Replies: 21
Views: 1751

Re: Paying debt weekly rather than monthly

Mortgages still accrue interest daily. It just gets reported monthly. If you sell/buy/refinance/pay off a mortgage, you're definitely going to pay per diem interest for partial months. But, yes, you want to make sure your payment is specified as being applied immediately, rather than towards the nex...
by rocket354
Sat Jun 29, 2019 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 171
Views: 15300

Re: Am I doing well financially?

Update (6/29/19): In the last 8 months, have done the following: Eliminated PMI Roughly maxed out 401k contributions Started backdoor Roth Cut food expenses to average of ~$1050/mo (sorry but don't think this is going to get much lower) Cut overall expenses to around $7700/mo (again, don't think th...
by rocket354
Thu Jun 27, 2019 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling 24 Year Old Credit Card
Replies: 31
Views: 2780

Re: Cancelling 24 Year Old Credit Card

OK. I am the OP and here's a follow up question: If I keep the card, how infrequently can I use it yet prevent it from getting cancelled for being inactive? Once a year? Twice a year? And if I just do a small charge every 6 or 12 months, is the fact that the charge is merely small a factor? I haven...
by rocket354
Thu Jun 27, 2019 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling 24 Year Old Credit Card
Replies: 31
Views: 2780

Re: Cancelling 24 Year Old Credit Card

Does anyone here know if the impact on one's credit score is the same if the credit card company closes the account for lack of use? I had a couple cards recently closed on my by the banks. It showed up on my credit (got the string of emails to prove it), and my credit limit visibly decreased, and ...
by rocket354
Thu Jun 27, 2019 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling 24 Year Old Credit Card
Replies: 31
Views: 2780

Re: Cancelling 24 Year Old Credit Card

How does it simplify your life? If you don't use it then it's not impacting your life at all. I have a cap1 1.5% card I never use. I get one email a month letting me know that my balance for the month is $0 (so I know nothing has been hacked) and that's it. It also has 0% foreign transaction fee so ...
by rocket354
Wed Jun 26, 2019 11:31 pm
Forum: Personal Consumer Issues
Topic: ergonomic mouse/ keyboard
Replies: 10
Views: 698

Re: ergonomic mouse/ keyboard

I imagine results are very user-specific. I use both an ergonomic mouse and keyboard and they're lifesavers for me. I second the endorsement for the Microsoft ergonomic keyboard. It is fantastic. It takes a little bit to get used to it but after a day or so you'll be as quick and efficient at it as ...
by rocket354
Mon Jun 24, 2019 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: for those of you who sold a home...
Replies: 28
Views: 4430

Re: for those of you who sold a home...

Great to hear your friend's situation might turn out better than expected. Here's a link about dual agency: https://www.thebalance.com/dual-agency-1798539 Generally there should be a different agent for each side of the transaction. If both are in the same firm, it's a dual agent since the actual br...
by rocket354
Mon Jun 24, 2019 4:04 pm
Forum: Personal Consumer Issues
Topic: Mortgage lender cash guarantee -- Anyone had success?
Replies: 0
Views: 185

Mortgage lender cash guarantee -- Anyone had success?

Recently (a few hours ago), I closed on a refi of my mortgage. I had two lenders (I'll call them A and B) competing down to the wire. Lender A was in the lead and I took their offer to Lender B, who has a publicly advertised guarantee that they'll beat the cost of any loan or pay cash. Well, Lender ...
by rocket354
Sat Jun 22, 2019 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Should I refinance my mortgage?
Replies: 17
Views: 1894

Re: Should I refinance my mortgage?

I just had the same decision with my non-jumbo loan. Exact numbers, otherwise: had 4.25 from a little over a year ago, got an offer at 3.875. Every situation is different, so be wary of rules of thumb. If your refi truly is no cost (you have to look very carefully) then there isn't a downside so by ...
by rocket354
Sat Jun 22, 2019 5:29 pm
Forum: Personal Consumer Issues
Topic: what was your worst major purchase? mine is a 2019 mazda3
Replies: 182
Views: 16628

Re: what was your worst major purchase? mine is a 2019 mazda3

My house in 2006 in one of the peakiest markets. Dropped over 60% and still hasn't fully recovered.

It's been a long-term investment. :oops:
by rocket354
Wed Jun 19, 2019 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: for those of you who sold a home...
Replies: 28
Views: 4430

Re: for those of you who sold a home...

It is at least possible that there are potential buyers who are not flippers. So I think the seller should have the property exposed to as broad a range of buyers as possible (that is, in MLS). He COULD allow the agent to bring an offer ahead of listing. However, like others, I suspect that will be...
by rocket354
Wed Jun 19, 2019 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: for those of you who sold a home...
Replies: 28
Views: 4430

Re: for those of you who sold a home...

Just a few comments from someone who has bought a few houses, but has yet to sell one (so grain of salt and all that): 1) There is no reason for any potential buyer to know how much your friend still owes. You are right that many will use that as a gauge for how little they can offer. Offers should ...
by rocket354
Wed Jun 19, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 619
Views: 58746

Re: Why are you NOT buying rental properties?

Yes, RE investing requires more work. You should make 15-20% return/year (not including mortgage pay down by your tenants) if you are a good RE investor. And it will be a full-time job at that point to find deals, make deals, and to manage properties (or the managers). It's very hard to find below-...
by rocket354
Mon Jun 17, 2019 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 619
Views: 58746

Re: Why are you NOT buying rental properties?

Actually it is not uncommon to buy a house at below market price just like it is not uncommon for a house to sell above market price. People buy with emotions. Sometimes, a house would fall out of escrow. There is nothing wrong with the house. Some buyers just have cold feet, can’t get a mortgage o...
by rocket354
Mon Jun 17, 2019 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 619
Views: 58746

Re: Why are you NOT buying rental properties?

Buy a good property at below market price in an up and coming neighborhood and you don’t have to worry about a measly 10-20% rent. I know absolutely nothing about owning and managing rentals (and I can prove it!) That said, regardless of commodity, isn't it generally impossible to (legally) buy any...
by rocket354
Mon Jun 17, 2019 12:06 am
Forum: Personal Finance (Not Investing)
Topic: Low interest student loan - pay off?
Replies: 9
Views: 863

Re: Low interest student loan - pay off?

I'm actually struggling with pretty much the exact same issue. I have 2.125% student loans, which also represents 2% of my net worth. I've kept them as long as I have because of the super-low interest rate and it always made sense to put the money towards something else--mortgage, investments. But i...
by rocket354
Mon Jun 10, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2127

Re: Mortgage refinance options

Since current PITI is already low, 10% of your gross, it's hard to imagine much benefit to paying 0.75 more for a 30-year note. There's not much flexibility gained going 10%->7%; it would have to be a very specific cataclysmic event for that decision to be beneficial, and you're paying a lot for tha...
by rocket354
Mon Jun 10, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance options
Replies: 20
Views: 2127

Re: Mortgage refinance options

1) What are the rates for those other loans? How stable is your employment? How big of a payment is your mortgage relative to your income? 2&3) Both costs that affect the rate. Your plans change. How certain are you to stay in the house long-term? But, again, specific numbers are important. How much...
by rocket354
Wed Jun 05, 2019 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Mortgage Refinancing
Replies: 14
Views: 913

Re: Help with Mortgage Refinancing

I am refinancing right now to 3.875% with a $2303 lender credit. That covers all closing costs except escrow but that will just transfer from my current escrow account. I would not pay a penny to refinance at the moment because the way things look I’ll likely be refinancing to a lower rate in a few...
by rocket354
Thu May 30, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home and renting out the extra bedrooms
Replies: 22
Views: 2456

Re: Buying a home and renting out extra bedrooms

I have owned a home for 13 years now and have had roommates for the last 11 or so of those years. Things you might want to consider: 1) You are hand-waving away some big costs: repairs/maintenance ($300+/mo on average), transaction costs (figure 10% or more, so $37,000 or more) and opportunity cost ...
by rocket354
Wed May 22, 2019 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Why Do Homeowners Have Higher Net Worths than Renters?
Replies: 30
Views: 2456

Re: Why Do Homeowners Have Higher Net Worths than Renters?

Why do Lamborghini owners have higher net worths than Kia owners?
by rocket354
Tue May 21, 2019 9:30 pm
Forum: Personal Consumer Issues
Topic: Anyone else looking forward to Game of Thrones?
Replies: 90
Views: 9022

Re: Anyone else looking forward to Game of Thrones?

I thought it was pretty good. I think a lot of that (the ratings) is people piling on. Remember they had to follow GRRM's story, so the ending was HIS ending. And admittedly, it was tough to make palatable, he created a monster of a story line. Far too convoluted. Nonetheless, I enjoyed it. The pro...
by rocket354
Thu May 16, 2019 12:34 pm
Forum: Personal Consumer Issues
Topic: Which car has the best or most comfortable cabin under 35K
Replies: 74
Views: 6319

Re: Which car has the best or most comfortable cabin under 35K

Two vehicles not yet recommended come to mind: Acura TLX, Acura RDX. First is a sedan with all the comforts you could ask for, quiet, and with good gas mileage. Second is a compact SUV with all the comforts you could ask for, quiet, and with good-for-a-small-SUV gas mileage. Both can be had brand ne...
by rocket354
Sat Apr 20, 2019 10:19 am
Forum: Personal Consumer Issues
Topic: House renovation financing
Replies: 24
Views: 2781

Re: House renovation financing

Thank you for the update. I'm really sorry for your situation. As someone who does some real estate investing, I can say that if a property requires anything more than off-the-shelf work (new flooring, new appliances, new windows, etc) then I want no part of it. OP, I hope things work out for you. A...
by rocket354
Fri Apr 19, 2019 9:14 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 939
Views: 120077

Re: Post your Financial Milestone Announcements Here

This seems to be the right place. I just found out today that my net worth crossed $500k. That is especially satisfying to me considering I was at $-150k eight years ago with nearly poverty-level income. The great recession hit me harder than most due to being heavy in stocks and real estate (in the...
by rocket354
Tue Apr 02, 2019 1:48 am
Forum: Personal Finance (Not Investing)
Topic: Comparison shopping for a mortgage - any advice?
Replies: 16
Views: 1887

Re: Comparison shopping for a mortgage - any advice?

Taking offers from company to company is the only way I've been able to negotiate a lower rate. For my current mortgage (closed last year) I was offered 4.5% for a 30-year fixed-rate. I was given all these reasons why it was the best they could do. I shopped around and found a place willing to do 4....
by rocket354
Thu Mar 28, 2019 12:54 pm
Forum: Personal Consumer Issues
Topic: Are independent garages cheaper than dealer?
Replies: 58
Views: 4465

Re: Are independent garages cheaper than dealer?

Every Acura dealer I've been to has been great, and that's across multiple states. It's mostly routine stuff like oil changes, but when moving cross-country I had an issue and stopped in at one in Albuquerque. They spent over an hour assisting and didn't even charge me. I recently had my rear brakes...
by rocket354
Thu Mar 28, 2019 12:03 pm
Forum: Personal Investments
Topic: Debating renting our house after we move (also, financial assessment?)
Replies: 14
Views: 937

Re: Debating renting our house after we move (also, financial assessment?)

WOW! Thanks so much for the responses! Yeah, it really is looking like we sell... Some clarifications: Yes, rent is around $2500 on that price house. The house has appreciated 60% in the 6 years since we bought it. Currently DOM for houses is under a week and we may have a few pocket people lined u...
by rocket354
Wed Mar 27, 2019 10:35 pm
Forum: Personal Investments
Topic: Debating renting our house after we move (also, financial assessment?)
Replies: 14
Views: 937

Re: Debating renting our house after we move (also, financial assessment?)

This is how I analyze when to sell: Your house should sell for $450k after $35k in renovations. So you sell for $450k, lose 8% to realtor fees and transfer taxes, and then subtract $187k for mortgage and $35k for the renovations you had to do. That leaves you with $192k and all capital gains tax-fre...
by rocket354
Wed Mar 27, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Sorry, Another Can/Should Buy Home Purchase
Replies: 12
Views: 802

Re: Sorry, Another Can/Should Buy Home Purchase

We have considered retaining and renting our current house (It has great rental potential) Thoughts? Have you been a landlord before? Do you really want to take on the additional part-time work and the headaches? If you didn't already own this house, would you purchase it in order to rent it? Will ...
by rocket354
Mon Mar 25, 2019 11:02 am
Forum: Personal Consumer Issues
Topic: Adjustable dumbbell recommendations
Replies: 65
Views: 3430

Re: Adjustable dumbbell recommendations

A lot of responses all over the map here. Aside from some a couple jabs at people trying to learn, it's a good discussion for the most part. Powerblock looks expensive, and still only go up to 90. It appears as though cost-effective adjustable dumbbells might be best for people focusing mainly in th...
by rocket354
Sat Mar 23, 2019 5:12 pm
Forum: Personal Consumer Issues
Topic: Adjustable dumbbell recommendations
Replies: 65
Views: 3430

Re: Adjustable dumbbell recommendations

Not sure if you to a gym but plenty of people are using 50+ pound dumbbells. I'd like that much to do flys, deadlifts, farmer's walk, etc I hope you get some meaningful answers, although bodybuilding and weight training websites might be a better place to ask. I'm an avid lifter and have been searc...
by rocket354
Thu Mar 21, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: success in retrirement depends on home value?
Replies: 18
Views: 1389

Re: success in retrirement depends on home value?

Sounds like someone trying to create another rule of thumb. People of course don't need most amounts of money suggested around here and in articles like these. But as a very rough correlation-based estimate of how much you might like to have, sure. I believe many people who are affluent enough to li...
by rocket354
Sun Mar 03, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: SIL needs help. Car totaled, still owes $10k. Any way out?
Replies: 70
Views: 5286

Re: SIL needs help. Car totaled, still owes $10k. Any way out?

Yes, not having exact numbers and having a clearly unreliable source (people who are bad with money are very often people who are inaccurate when talking financials) makes this a bit of a phantom problem. In most interpretations, though, it is her responsibility and no one else's. Perhaps she is thi...
by rocket354
Mon Feb 18, 2019 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: More Bad News for USAA Bank
Replies: 61
Views: 10711

Re: More Bad News for USAA Bank

I'm surprised to read about all the people who get charged a lot from USAA. I do all my insurance (home, rental, auto) through them. For home and rental they were slightly better than my next best option. For auto they were less than half as much--I pay less than $30/mo. I've had no issues with them...
by rocket354
Wed Feb 13, 2019 12:44 am
Forum: Personal Consumer Issues
Topic: Best Mattress Close to Original Tempurpedic
Replies: 28
Views: 3459

Re: Best Mattress Close to Original Tempurpedic

I had a Tempurpedic from 2005 that lasted 12 years, but was clearly in need of replacement. However, I did not like the current Tempurpedic prices, so I went through a long list of online bed-in-a-box sellers (Casper, Purple, Tuft and Needle, etc). I kept the Purple. However, if you like firm, I wou...