Search found 292 matches

by barberakb
Sat Nov 14, 2020 12:31 am
Forum: Personal Finance (Not Investing)
Topic: Buying a Triplex?
Replies: 38
Views: 2397

Re: Buying a Triplex?

45K for each unit or total? If total that is awesome numbers and you can just pay a property manager
by barberakb
Fri Nov 13, 2020 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Does this investment property purchase make sense?
Replies: 27
Views: 1584

Re: Does this investment property purchase make sense?

Maybe if it was supposed to appreciate ALOT, but still would need atleast 6k a month rent. HARD pass
by barberakb
Thu Nov 12, 2020 12:58 am
Forum: Personal Investments
Topic: Experience with Fundrise
Replies: 13
Views: 2209

Re: Experience with Fundrise

I almost invested with them but didn't like how long they tied up your $$$ for or their fees so I am using groundfloor for now. How do you like groundfloor? I'm considering investing with them on a small level to see if I like it. Its decent so far. I am getting about 10% return. I do like their pl...
by barberakb
Sat Oct 31, 2020 10:53 pm
Forum: Personal Investments
Topic: Owner financing to spread cap gains on rental property
Replies: 9
Views: 726

Re: Owner financing to spread cap gains on rental property

if its local could u go live in it for 2 years and get a huge tax break on the gains when you sell?

Any thoughts on gifting it to your heirs?
by barberakb
Sat Oct 17, 2020 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Investing in real estate - what is your opinion?
Replies: 53
Views: 4620

Re: Investing in real estate - what is your opinion?

Is real estate a good avenue to explore? Yes. And it shouldn't take you long to figure out the potential inherent problems with out-of-state land lording. It is possible, though. With a big enough down payment you might be able to eek out a positive cash flow. A friend of mine recently pulled it of...
by barberakb
Sat Oct 17, 2020 2:40 am
Forum: Personal Finance (Not Investing)
Topic: Investing in real estate - what is your opinion?
Replies: 53
Views: 4620

Re: Investing in real estate - what is your opinion?

OP, I say go for it. But dont just jump in. Do your homework. Read lots of blogs, books, youtube etc... I think real estate has a great place in retirement. I like to have different pools or legs of funds to use in retirement. For example, SS, pension, real estate, 401k, IRA etc... The more the bett...
by barberakb
Sat Oct 17, 2020 1:52 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7950
Views: 553977

Re: Refinance Mega Thread

Tenesmus83 wrote: Fri Oct 16, 2020 7:28 pm For investment properties, are online lenders just as good vs brick and mortar lenders? Are there any advantages to brick and mortar lenders?
yes they are just as good just shop around
by barberakb
Fri Oct 09, 2020 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7950
Views: 553977

Re: Refinance Mega Thread

Therefore, only lock-in with them if you really intend on using them. It's fine to shop around because it's a free market but if you're going to shop, do it before you lock-in with a lender so they haven't started any work for you. The problem is that most lenders will only pricematch a locked LE. ...
by barberakb
Fri Oct 09, 2020 1:33 am
Forum: Personal Finance (Not Investing)
Topic: If you have a pension, how do you view it?
Replies: 203
Views: 14368

Re: If you have a pension, how do you view it?

I have a pension for 20 yrs in the military. It really isn't that much since I was enlisted but its nice to know that its pretty much guaranteed and it is COLA'd so that is nice. I view it as a bucket of $. I like to have multiple buckets or income streams to keep me diversified, that way if one fai...
by barberakb
Fri Oct 09, 2020 1:25 am
Forum: Personal Finance (Not Investing)
Topic: Buying second house - dilemma
Replies: 46
Views: 5899

Re: Buying second house - dilemma

Keeping and renting current house would be something like $15000 income on $500k of equity if mortgage were paid off. That's a pretty poor return on investment. About 3.0%... As a long-time real estate investor and landlord, I laugh at that analysis. It does not take price appreciation into account...
by barberakb
Tue Sep 22, 2020 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

Some people don't buy/rent unless it meats the 1% rule. That doesn't work in ALOT of areas so i don't use it. But I try to get close to it. For example I bought a $160,000 house that rents for $1300 a month. This is simplified but that is a good # where i live. Using this a 1M home should rent for a...
by barberakb
Mon Sep 21, 2020 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

Since retired have you thought about moving? Your $ would go ALOT farther in a low COL area Yes. I would move to a lower cost area. I would still owe CA taxes if I kept it as a rental. Have you been living in the house the last few years. If so, I would sell it, youd make a huge profit tax free. Th...
by barberakb
Mon Sep 21, 2020 12:42 am
Forum: Investing - Theory, News & General
Topic: Investing Groups (online, Zoom etc.)
Replies: 4
Views: 529

Re: Investing Groups (online, Zoom etc.)

Hi all, I'm new to Bogleheads (and new to investing in general), and I have recently learned a lot about the power of low cost index investing through reading JL Collins blog and listening to various podcasts, and I am really encouraged by the concepts I am learning. Is anyone aware of any online/v...
by barberakb
Sun Sep 20, 2020 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

Since retired have you thought about moving? Your $ would go ALOT farther in a low COL area Yes. I would move to a lower cost area. I would still owe CA taxes if I kept it as a rental. Have you been living in the house the last few years. If so, I would sell it, youd make a huge profit tax free. Th...
by barberakb
Sun Sep 20, 2020 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

Since retired have you thought about moving? Your $ would go ALOT farther in a low COL area
by barberakb
Sun Sep 20, 2020 2:07 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

I believe if you haven't used the home as a primary residence for 2 of the past 4 calendar years, then you have to pay capital gains on the sale of the home. It’s 2 out of the last 5, but your point is still valid. Also, how many people can qualify for two mortgages? Probably most Bogleheads...
by barberakb
Sun Sep 20, 2020 2:03 am
Forum: Personal Finance (Not Investing)
Topic: Reason not to rent out your old house?
Replies: 58
Views: 4776

Re: Reason not to rent out your old house?

What happens when it goes unoccupied for 6 months? You pay the mortgage while you wait for renters... Seriously, I have been renting out houses since 2004, currently have 6, and not once have I had a vacancy even for 3 months. Especially not 6. I'm sure it has happened but the odds are it won't. If...
by barberakb
Sun Sep 20, 2020 12:27 am
Forum: Personal Investments
Topic: Alternative Investments
Replies: 34
Views: 2842

Re: Alternative Investments

Yes, I am buying SFH's as rentals. Cash flow, likely appreciation, principal pay down by the tenant and tax advantages are better than any other alternative investment for me. Without the generous leverage and tax code provisions, would you still do SFHs? Thanks Without tax breaks, yes. If what you...
by barberakb
Sun Sep 20, 2020 12:15 am
Forum: Personal Investments
Topic: Alternative Investments
Replies: 34
Views: 2842

Re: Alternative Investments

Yes, I am buying SFH's as rentals. Cash flow, likely appreciation, principal pay down by the tenant and tax advantages are better than any other alternative investment for me.
by barberakb
Sun Sep 13, 2020 12:14 am
Forum: Personal Investments
Topic: Experience with Fundrise
Replies: 13
Views: 2209

Re: Experience with Fundrise

I almost invested with them but didn't like how long they tied up your $$$ for or their fees so I am using groundfloor for now.
by barberakb
Thu Sep 10, 2020 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: Question for owners of residential rental property.
Replies: 7
Views: 857

Re: Question for owners of residential rental property.

I use zillow as well. Auto payments, background checks, credit checks and leases all in 1 easy to use website.
by barberakb
Wed Sep 09, 2020 1:05 am
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent
Replies: 25
Views: 1885

Re: Sell or Rent

Goosh . . . In real estate investing, one rule of thumb is the 1% rule. The 1% rule means that the monthly rent should be approximately 1% of your purchase price. This rule is applied by some real estate investors when they consider deals to purchase. I note that it is difficult to find properties ...
by barberakb
Tue Sep 01, 2020 2:34 am
Forum: Personal Finance (Not Investing)
Topic: Skipping a Buyer's Real Estate Agent
Replies: 53
Views: 3088

Re: Skipping a Buyer's Real Estate Agent

I did this recently with my vacation home. Still waiting to close. It worked for me but YMMV. Agent agreed to lower commission some so we could agree on the price. Agent will actually pay me $900+ at closing. Agent also agreed to pay about $450 in repairs needed by the home inspection in order to ma...
by barberakb
Tue Sep 01, 2020 2:20 am
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent
Replies: 25
Views: 1885

Re: Sell or Rent

Sell!

A 700K house should rent for ATLEAST 5K a month for it to make sense as a rental.
by barberakb
Tue Sep 01, 2020 2:13 am
Forum: Personal Finance (Not Investing)
Topic: Stage 4 Cancer and Young Family
Replies: 105
Views: 14843

Re: Stage 4 Cancer and Young Family

So sorry for the bad news.

I wish you the best.

Don't let the doctors guess get you down. Plenty of people beat the odds, stay positive and good luck.
by barberakb
Tue Sep 01, 2020 1:50 am
Forum: Personal Finance (Not Investing)
Topic: I have to select a lender for my new home mortgage. Which one should I select?
Replies: 16
Views: 1078

Re: I have to select a lender for my new home mortgage. Which one should I select?

C. But good luck closing in 30 days. All of the lenders are super busy right now. As well as appraisals etc...
by barberakb
Tue Sep 01, 2020 1:46 am
Forum: Personal Investments
Topic: Invest/2nd Home/Addition
Replies: 1
Views: 286

Re: Invest/2nd Home/Addition

Have you thought about making your vacation home an Air bnb while you arent using it?

You might be able to get #2 and have someone else pay for it!
by barberakb
Sat Aug 22, 2020 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 39609

Re: The axe falls and I am prepared. What's next?

Sorry, I didn't see that part. Good luck.
by barberakb
Sat Aug 22, 2020 11:44 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 39609

Re: The axe falls and I am prepared. What's next?

There has been a change of plan. Due to COVID-19, it might not be safe for my wife to go back to work. So, this may no longer be possible. But, I have 2 years of COBRA insurance from my ex-employer. KlangFool If you keep your income between 1X - 4X of the poverty level, you will qualify for ACA ins...
by barberakb
Sat Aug 22, 2020 2:20 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate risk of prospective tenants?
Replies: 38
Views: 2375

Re: How to evaluate risk of prospective tenants?

There is also an instinct developed to select excellent long term tenants that takes into account things that can't be found on paper or numbers. This seems to be very true! Somehow my property manager has sieved through the 100+ calls she has received to produce 3 viable applications within a few ...
by barberakb
Sat Aug 22, 2020 2:16 am
Forum: Personal Finance (Not Investing)
Topic: How to evaluate risk of prospective tenants?
Replies: 38
Views: 2375

Re: How to evaluate risk of prospective tenants?

IMO the income isn't enough.

I use a 3.5 X rent monthly = income so 3500 x 3.5 = they need 12,250 a month in income

If they don't meet that I don't rent to them unless they have unusual circumstances.
by barberakb
Sat Aug 22, 2020 2:09 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 407
Views: 39609

Re: The axe falls and I am prepared. What's next?

I am in the IT field. There are plenty of jobs all around the world.

They pay well, even in LCOL areas.

Are you willing to relocate?
by barberakb
Sat Aug 22, 2020 1:32 am
Forum: Personal Finance (Not Investing)
Topic: how often do you check your net worth?
Replies: 153
Views: 9861

Re: how often do you check your net worth?

once or twice a year
by barberakb
Fri Aug 21, 2020 10:59 pm
Forum: Personal Investments
Topic: Real estate continues to soar (great for landlords)
Replies: 71
Views: 6011

Re: Real estate continues to soar (great for landlords)

Doesn't really help me as I don't plan on selling but I haven't lost any rent on any of my rentals yet and I haven't had to decrease rent either.

But i know other landlords haven't been as fortunate
by barberakb
Fri Aug 21, 2020 10:40 pm
Forum: Personal Investments
Topic: How much did you save?
Replies: 102
Views: 13967

Re: How much did you save?

I started saving at 10% and as i got raises I upped the %.

Currently I'm at about 40%. But I'm a dual income family in a LCOL area so its easier to save.

I actually didnt max out our 401k's etc... until about 2 years ago.

I also started investing at 18 so that helps ALOT.
by barberakb
Fri Aug 21, 2020 1:01 am
Forum: Personal Finance (Not Investing)
Topic: Refinance Mega Thread
Replies: 7950
Views: 553977

Re: Refinance Mega Thread

He stated "Not at a price I’d be willing to pay" so Im pretty sure that rate is paying pts
by barberakb
Mon Aug 10, 2020 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

I’ve made a lot of money investing in residential real estate over the years. It is work and you have to know what you’re doing. But I have no regrets because it’s far better than a regular job. In most places prices are too high to make it work well now. While I’ve owned some for 30 years my bigge...
by barberakb
Sat Aug 08, 2020 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, need help evaluate mortgage offer...
Replies: 1
Views: 413

Re: First time home buyer, need help evaluate mortgage offer...

I think that rate is high but ALOT depends on your credit score/income. You can definitely get better rates if you do 20% down. ALWAYS shop around, even if you think the rate is good. Banks almost always can go lower than their 1st offer. Try https://www.northpointe.com/ and https://lowvarates.com/
by barberakb
Sat Aug 08, 2020 11:21 pm
Forum: Personal Investments
Topic: Best way to cash stock
Replies: 5
Views: 883

Re: Best way to cash stock

yes, depends on a lot of variables but especially how much you paid for it.
by barberakb
Fri Aug 07, 2020 12:17 am
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

Very few markets with worthwhile returns at this point. I bought in urban midwestern city in 2009. Duplex for $50k. Put $30k into it. Rented for ten years. Started at $650 per side and was at $850 when I sold in 2019. 80% occupancy for the ten years. Sold the place for $300k. Ate it hard on taxes f...
by barberakb
Fri Aug 07, 2020 12:07 am
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

I wouldn't, because i rarely post on bigger pockets... So its not really a valid comparison.
by barberakb
Thu Aug 06, 2020 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

I was going to explain why I think it can be a great investment but I found this article which explains it way better than I ever could. https://www.biggerpockets.com/blog/buy-and-hold-vs-flip?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%207/28/20&utm_channel=28425...
by barberakb
Thu Aug 06, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

How is everyone collecting rent during COVID? We own a commercial property with 2 billboards in California. No rent received for April, May or June. Our billboard company asked for relief from their contract back in April. July rent was paid at 25% level. So far nothing received for August. We can ...
by barberakb
Thu Aug 06, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

Oh mi dios. It's been a while since I've been on this forum. I got super busy this summer with projects. But, I take a look today and it's the age-old real estate vs. investing post. Or as I like to call it, the Apples vs. Oranges comparison. REI investors....why do you try to convince non-REI inve...
by barberakb
Thu Aug 06, 2020 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

Well the good news is your not buying if the #'s don't work for you. A lot of ppl buy anyway...
by barberakb
Wed Aug 05, 2020 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

Oh mi dios. It's been a while since I've been on this forum. I got super busy this summer with projects. But, I take a look today and it's the age-old real estate vs. investing post. Or as I like to call it, the Apples vs. Oranges comparison. REI investors....why do you try to convince non-REI inve...
by barberakb
Wed Aug 05, 2020 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

I was going to explain why I think it can be a great investment but I found this article which explains it way better than I ever could. https://www.biggerpockets.com/blog/buy-and-hold-vs-flip?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%207/28/20&utm_channel=28425...
by barberakb
Wed Aug 05, 2020 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Rental property investing and #'s explained (why real estate can be a great investment)
Replies: 138
Views: 9220

Re: Rental property investing and #'s explained (why real estate can be a great investment)

I was going to explain why I think it can be a great investment but I found this article which explains it way better than I ever could. https://www.biggerpockets.com/blog/buy-and-hold-vs-flip?utm_source=Iterable&utm_medium=email&utm_campaign=Newsletter%20%7C%207/28/20&utm_channel=28425...