Search found 35 matches

by sp0704
Wed Feb 19, 2020 5:08 pm
Forum: Personal Consumer Issues
Topic: Bought Too Much Car
Replies: 30
Views: 4950

Re: Bought Too Much Car

You didn't indicate if you have a loan on the car, but it shouldn't matter, even if you're upside down, as you want to offload it ASAP. If you paid $32K from a dealer and can get around $30K from a no hassle sale, I would take that and move on. I really wouldn't bother with the hassle of trying to s...
by sp0704
Thu Jul 04, 2019 9:08 am
Forum: Personal Finance (Not Investing)
Topic: 30 y/o financial check up. How am I doing? Can I buy a model 3 performance?
Replies: 57
Views: 4371

Re: 30 y/o financial check up. How am I doing? Can I buy a model 3 performance?

As others have said, your income is now excellent and it's not really an "affordability" question, rather than should you do this. I would probably wait two years. Pay off your dad (even if he doesn't need it, it's not that much to wipe out for peace of mind) and get your money working more for you ...
by sp0704
Mon Jun 10, 2019 10:40 am
Forum: Personal Consumer Issues
Topic: I'm thinking about buying a supercar anyone here done this and feedback?
Replies: 241
Views: 15970

Re: I'm thinking about buying a supercar anyone here done this and feedback?

I would consider the Porsche 991.2 GT3RS, which is around $200K depending on how it's spec'd. It's a Porsche 911, so it doesn't scream supercar and exotic and will likely require less of a maintenance regiment than McLaren, Ferrari, Lamborghini, etc. However, it's the most awesome beast of a 911 tha...
by sp0704
Wed Mar 20, 2019 12:55 pm
Forum: Personal Consumer Issues
Topic: Minivan - Safety
Replies: 34
Views: 1917

Re: Minivan - Safety

We bought a new Odyssey last year. My BIL has a Sienna that is at least 7 years old. Today's Sienna seems to be the same vehicle he bought years ago. To me, there is a higher level of quality with the fit and finish of the Honda, but it's also a higher priced vehicle (new). While there are rationali...
by sp0704
Mon Mar 18, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7586

Re: Should we purchase $700k home?

I don't see a reason you couldn't afford it. What I don't understand is how you save so much with a $250k boat loan? How much is the boat payment per month and how do you save so much with that loan? Is it rented out/chartered to others? As others have said, the maintenance on that could catch up t...
by sp0704
Mon Mar 18, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase $700k home?
Replies: 101
Views: 7586

Re: Should we purchase $700k home?

I don't see a reason you couldn't afford it. What I don't understand is how you save so much with a $250k boat loan? How much is the boat payment per month and how do you save so much with that loan? Is it rented out/chartered to others? As others have said, the maintenance on that could catch up to...
by sp0704
Mon Dec 31, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Finance overview feedback and some questions
Replies: 3
Views: 322

Re: Finance overview feedback and some questions

I would likely finance the renovation, as leverage is your friend with real estate investments. However, for the cost to be "worth it," I would hope you get more than $2k/mo if you spend around $1 mil. Consider the cap rate on the existing rent/NOI you are currently achieving in relation to your pur...
by sp0704
Fri Nov 09, 2018 12:34 pm
Forum: Personal Investments
Topic: What can I do better?
Replies: 29
Views: 2577

Re: What can I do better?

Others have chimed in already regarding the fees you're paying on the funds, which you recognize. However, I disagree with the others regarding your use of loans for the cars, as they are at a low rate. It sounds like the risks you are taking with real estate are profitable at a much higher return, ...
by sp0704
Thu Nov 01, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Is an MBA worth it these days?
Replies: 55
Views: 7757

Re: Is an MBA worth it these days?

I work in commercial real estate and don't think an MBA is what you need. For real estate, you can get a master's in real estate degree from a wider range of institutions, which is more tailored to the industry you want to be within. Your contacts are essentially telling you that you need some acade...
by sp0704
Sun Oct 28, 2018 7:15 pm
Forum: Personal Consumer Issues
Topic: Honda Odyssey which trim level
Replies: 9
Views: 1151

Re: Honda Odyssey which trim level

The issue with the 9-speed, made by ZF and not in-house like the 10-speed, is it has poor ratings with regard to lurching/jerking, and not really "failing." Its poor driveability and comfort is not something that can be fixed, unless there has been a software update that has really corrected this is...
by sp0704
Sun Oct 28, 2018 2:18 pm
Forum: Personal Consumer Issues
Topic: Honda Odyssey which trim level
Replies: 9
Views: 1151

Re: Honda Odyssey which trim level

We bought an Odyssey Elite a few months ago and it has been great. I agree that mechanically, I think the 10-speed is the better way to go considering the issues with the 9-speed, particularly if you plan to keep it long-term. That means getting at least the Touring trim, which is a $7,050 jump over...
by sp0704
Fri Oct 26, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer - gut check
Replies: 58
Views: 8575

Re: First time home buyer - gut check

I live in the Atlanta area. If you're buying in-town, I wouldn't exactly call it LCOL. Home prices have increased quite a bit, there are bidding wars, and yet the in-town school system still has a long way to go for improvement. It's only been a few years since the City of Atlanta public school syst...
by sp0704
Fri Oct 05, 2018 6:57 pm
Forum: Personal Investments
Topic: Evaluate net worth - FIRE really that close?
Replies: 56
Views: 8422

Re: Evaluate net worth - FIRE really that close?

If you want to retire at 40, you'll likely need way more than $3M, unless you drastically reduce expenses. If you withdraw 3% annually and assume some inflation to expenses, you could potentially run out of money in your 60s or 70s depending on how your investments and expenses pan out. I think it's...
by sp0704
Wed Jul 04, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Is this the least bad way to get out of my lease?
Replies: 5
Views: 1121

Re: Is this the least bad way to get out of my lease?

I would look into doing a lease transfer through swapalease.com or leasetrader.com (there may be other sites out there as well). I have no experience with either of these, but if you only incur a lease transfer fee (and depending on your liability once the vehicle is transferred to a different lesse...
by sp0704
Sat Jan 06, 2018 7:30 pm
Forum: Personal Consumer Issues
Topic: Car people: 2014 E63 AMG or 2018 E400 wagon??
Replies: 69
Views: 6758

Re: Car people: 2014 E63 AMG or 2018 E400 wagon??

Do you prefer tech or performance? 0-60 for the E63 is likely sub 4 seconds (the E63 S for that year was 3.6 sec.) compared to 5.3 sec for the E400. The AMG power is definitely overkill and the E400 is no slouch. There is a lot of new tech in the W213 E Class and you'll want a good warranty for eith...
by sp0704
Wed Jan 03, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Another should i buy my dream porsche thread...
Replies: 240
Views: 16874

Re: Another should i buy my dream porsche thread...

I agree with not rushing to pay off a car and a house in the short term over investing. Personally, I would probably limit the purchase to taking out a loan of $50,000 and taking the down payment from liquid savings. Debt is cheap now and you're not yet a millionaire, so I think financing whatever c...
by sp0704
Mon Jul 24, 2017 8:04 am
Forum: Personal Finance (Not Investing)
Topic: First-time home buying: New Construction Condo in Atlanta
Replies: 12
Views: 1776

Re: First-time home buying: New Construction Condo in Atlanta

I'm writing as an Atlanta resident who works in the commercial RE market here. From my perspective, like others have said, there is typically another swanky development in the pipeline, unless the area is already overbuilt and the developer can't get financed. From what I recall, some of the most re...
by sp0704
Wed Apr 05, 2017 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Secretly entered two comma club
Replies: 44
Views: 8867

Re: Secretly entered two comma club

Nice! Your situation is similar to mine. Recently got there at 33, have one due very soon, just started our 15 mo. old in daycare, and bought a new house recently and have been spending $$ on house stuff. Good news is these expenses will subside.
by sp0704
Thu Oct 27, 2016 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: I need career and financial advice
Replies: 36
Views: 3756

Re: I need career and financial advice

I don't think your situation is uncommon for employees at small architecture firms. Typically, architect employees can be paid rather low salaries at these small firms, and the principals can get away with it because there's typically someone willing to take the job. I know of licensed architects in...
by sp0704
Fri Sep 09, 2016 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Any Commercial Real Estate Investors out there?
Replies: 10
Views: 1479

Re: Any Commercial Real Estate Investors out there?

I am not an investor, but I am an MAI designated commercial appraiser. First thing, I think you need to figure out if the property is worth the purchase price. Sounds like revenue is around $1.2 million, but what are the costs excluding the loan? Essentially, what is your net operating income before...
by sp0704
Mon Sep 05, 2016 9:11 am
Forum: Personal Consumer Issues
Topic: Car leases: not that expensive, after all, if you can't do maintenance yourself?
Replies: 32
Views: 7313

Re: Car leases: not that expensive, after all, if you can't do maintenance yourself?

The expense of leasing cars snowballs over time. Short-term it's not so noticeable. I posted this exercise before: I found I could lease a BMW for $100/month more than owning my seven year old Honda Fit. That's it, I should lease up @ BMW, right? What a deal! If you read the small print $4400 is du...
by sp0704
Sat Sep 03, 2016 9:32 pm
Forum: Personal Consumer Issues
Topic: Next Weekend Car - Dodge Viper to What?
Replies: 65
Views: 9115

Re: Next Weekend Car - Dodge Viper to What?

I've never driven a Viper, but it's more unique than most of the options presented. How about a newer Viper?
by sp0704
Sat Sep 03, 2016 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: CPA turnaround time and etiquette
Replies: 30
Views: 3904

Re: CPA turnaround time and etiquette

You don't need to rely on this CPA to do a practice valuation. You can also find an appraiser with experience in business valuation. Find one with the ASA designation and solid credentials.
by sp0704
Mon Aug 29, 2016 1:46 pm
Forum: Personal Consumer Issues
Topic: Car leases: not that expensive, after all, if you can't do maintenance yourself?
Replies: 32
Views: 7313

Re: Car leases: not that expensive, after all, if you can't do maintenance yourself?

OTH, I am an older guy and may start leasing as I may not want to be driving 10+ years from now. My neighbor's mother died a year ago and had very negative things to say about dealing with a leased vehicle as the executor. Very difficult and expensive to terminate the lease early. Terminating the l...
by sp0704
Mon Aug 29, 2016 10:40 am
Forum: Personal Finance (Not Investing)
Topic: What to do with my underwater house, sink or swim?
Replies: 29
Views: 5052

Re: What to do with my underwater house, sink or swim?

If you are pleased with the home and its location, there is really no reason to damage credit from a short sale, handing back the keys, etc. This route will also likely preclude you from buying a home for the next several years. Your best option is likely to refinance into a fixed rate mortgage. If ...
by sp0704
Wed Aug 10, 2016 10:59 am
Forum: Personal Investments
Topic: Are bonds necessary for young investors?
Replies: 58
Views: 5305

Re: Are bonds necessary for young investors?

30 years old; successful in a 100% commission career; have averaged $450,000/yr income over past four years, although that could fluctuate down to $250-$300k or up to $600k-$800k (typically based upon general economic conditions, which affects amount of money which could be invested); low risk of m...
by sp0704
Wed Aug 10, 2016 10:48 am
Forum: Personal Consumer Issues
Topic: Should I lease a Tesla?
Replies: 148
Views: 15998

Re: Should I lease a Tesla?

Sorry if I missed it, but do you have lease numbers available? What is the potential term length, residual value, money factor, and payment? I presume from your $50,000/mo HHI that you could afford it, but if it's a worthwhile deal is another issue.
by sp0704
Tue Jun 14, 2016 1:39 pm
Forum: Personal Consumer Issues
Topic: Any Porsche 911 owners here?
Replies: 142
Views: 23175

Re: Any Porsche 911 owners here?

I have always wanted one as well, starting around 20 years ago when in elementary school. I have driven several, including a 997 Turbo at the track, and no matter which iteration, they are all fun. My problem with Porsche now is the prices to buy new seem to be rapidly increasing, and they are losin...
by sp0704
Wed Jun 08, 2016 7:37 am
Forum: Personal Consumer Issues
Topic: Buying a Rolex Watch
Replies: 171
Views: 26956

Re: Buying a Rolex Watch

I would recommend finding one pre-owned with all papers and the green box to get the most value. I have a GMT Master II that I bought pre-owned from a third party that had great ratings. Bought mine in 2014 and its new "in service" date was 2007. It was serviced before I bought it and could not tell...
by sp0704
Tue Jun 07, 2016 12:07 pm
Forum: Personal Investments
Topic: Portfolio advice for 30 year old w/ family, early retiree?? Thanks in advance!
Replies: 36
Views: 6124

Re: Portfolio advice for 30 year old w/ family, early retiree?? Thanks in advance!

2. Do you think my goal of semi-retiring at 40 is feasible and what can I do to make it even more so? Unless I'm missing something huge, I think it's reasonable to say your semi-retirement plan, as you outlined, will not work. For example, how will the $200k yacht be paid for at age 40 when your fu...
by sp0704
Fri Jun 03, 2016 11:15 am
Forum: Personal Finance (Not Investing)
Topic: How would you calculate my savings rate?
Replies: 9
Views: 1314

Re: How would you calculate my savings rate?

My calculation is 39.29% of gross income $18,000 + $5,500 + $15,000 = $38,500 saved $38,500/$98,000 gross income = 39.29% Question: Is the regular savings toward retirement (long-term that you won't tap), or in cash equivalents that could be spent in the short term? There are probably differing view...
by sp0704
Wed Jun 01, 2016 8:18 pm
Forum: Personal Consumer Issues
Topic: Leasing Porsche Cayenne
Replies: 7
Views: 2904

Re: Leasing Porsche Cayenne

Try the Edmunds leasing forum. Edmunds has forums for many different manufacturers and models, providing current residuals and money factors. http://forums.edmunds.com/discussion/32235/porsche/cayenne/2015-porsche-cayenne-lease-questions#latest Also, you could try the Rennlist or 6speedonline forums.
by sp0704
Wed May 25, 2016 1:15 pm
Forum: Personal Investments
Topic: Advice for my daughter
Replies: 39
Views: 3532

Re: Advice for my daughter

Being a landlord is not as easy as finding a good deal and collecting rent. We entered "landlordhood" when we couldn't sell the townhome my wife bought before the recession for anywhere near the mortgage balance. The property is within the metro area where we live, but in an area that has declined. ...
by sp0704
Sun May 01, 2016 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 896
Views: 149149

Re: High Earners - What's Your Profession?

Wife and I are early to mid 30s and are also CRE appraisers (MAI Designated). Don't see it mentioned much as a career. We each earn over $100k and sometimes over $200k each. Commercial Real Estate Appraiser (25 to 30 more years to work...lol) I'm not at the $100K level but with my wife's bank teller...
by sp0704
Tue Mar 22, 2016 11:38 am
Forum: Investing - Theory, News & General
Topic: The Next 40 Years
Replies: 35
Views: 4785

Re: The Next 40 Years

I am in my early 30's and have had similar thoughts. However, I don't think there is any reason at this point to believe over the course of several decades there will be zero to negative returns (if I understand your post correctly). I would not doubt the potential for lower returns than the previou...