Search found 12 matches

by gougou
Fri Oct 20, 2017 7:47 pm
Forum: Investing - Help with Personal Investments
Topic: Is my rental property worth keeping?
Replies: 28
Views: 1570

Re: Is my rental property worth keeping?

If you factor in repairs and vacancy, your rental property is slightly negative cash-flow. But the appreciation was not bad -- 6%/year. Is this rental in a high demand area? Do you think this will continue? I don't recommend selling the rental because of all the work/commissions involved. And I don'...
by gougou
Fri Oct 20, 2017 7:33 pm
Forum: Investing - Help with Personal Investments
Topic: To invest or not to invest
Replies: 6
Views: 565

Re: To invest or not to invest

Is there any way you can refinance that student loan? 6.8% is expensive. Even a personal unsecured loan might be lower than that. Or you can get more creative by getting a 0% APR credit card to pay off that student loan.
by gougou
Thu Oct 19, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Am I paying too much for insurance?
Replies: 18
Views: 1702

Re: Am I paying too much for insurance?

Your home insurance looks really expensive. We are with Farmers insurance and here are our numbers: Home Insurance: $1.2M house, $550K replacement cost, $2500 deductible $578.07/year This really seems hard to believe. What does $1.2M house, $550k replacement cost mean? It will only cost $550k to re...
by gougou
Wed Oct 18, 2017 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Am I paying too much for insurance?
Replies: 18
Views: 1702

Re: Am I paying too much for insurance?

Your home insurance looks really expensive. We are with Farmers insurance and here are our numbers: Home Insurance: $1.2M house, $550K replacement cost, $2500 deductible $578.07/year Auto Insurance (We are 27, 28 years old): Tesla model S 75 and Porsche Macan S combined, 500K/500K/100K, $2500 deduct...
by gougou
Wed Oct 18, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Buy a rental property before primary home?
Replies: 17
Views: 1311

Re: Buy a rental property before primary home?

OP, here's my suggestion: 1. Buy the $400K house as your primary residence. Put 20% down and you will get the best interest rate (less than 4% for 30 year fixed/less than 3% for 15 year fixed). If you itemize deductions you can claim property tax and mortgage interest deductions. 2. Live in the hous...
by gougou
Fri Oct 13, 2017 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: Payoff Rental or lower Primary Loan -> Mortgage Deduction Interest Question
Replies: 14
Views: 604

Re: Payoff Rental or lower Primary Loan -> Mortgage Deduction Interest Question

I did a simple calculation $458 x 12 / $190K = 2.89% interest. Which is lower than the 4% interest you are getting. So it makes more sense to lower your new mortgage. Both mortgages are tax deductible. The mortgage interest on the rental reduces your rental income, while the primary home mortgage in...
by gougou
Wed Oct 11, 2017 4:33 pm
Forum: Investing - Theory, News & General
Topic: Gold ETF
Replies: 32
Views: 3008

Re: Gold ETF

If you are hedging from a societal collapse, why don't you buy actual gold coins and bullion? I've seen some online stores such as APMEX and JMBullion that sell gold coin for about 3% over spot price. It's not that expensive vs a 0.4% ER per year. And you get to keep these physical coins in a safe i...
by gougou
Fri Oct 06, 2017 3:57 pm
Forum: Personal Consumer Issues
Topic: Too much house? (nervous 1st time buyer)
Replies: 57
Views: 4023

Re: Too much house? (nervous 1st time buyer)

It's pretty clear that buying is a much better financial and lifestyle choice for you. - You can definitely afford a $330K house (only 3x base salary, and you have $390K financial assets, you probably only need to put down $70K) - Monthly obligation of ~$1600, probably very comparable vs if you rent...
by gougou
Mon Oct 02, 2017 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21246

Re: 30,000 in Checking Account

I think with around $30K available your best strategy is to open checking/saving accounts for the opening bonuses. For example, I just received an HSBC mail offer with $350 bonus if I open with $10K initial deposit. I know Chase, Citi and many smaller banks constantly have such offers. You can proba...
by gougou
Fri Sep 29, 2017 6:47 pm
Forum: Personal Consumer Issues
Topic: Wiring AUD to US w/o Intermediary Bank
Replies: 3
Views: 304

Re: Wiring AUD to US w/o Intermediary Bank

I'm from Canada and I have been using InteractiveBrokers to convert CAD to USD to avoid currency exchange loss. I have a US-based InteractiveBrokers that can receive CAD wire transfers. Then I buy USD.CAD in my InteractiveBrokers account and withdraw USD to my US bank account. You can open a US-base...
by gougou
Fri Sep 29, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Bigger down payment or CDs?
Replies: 18
Views: 1456

Re: Bigger down payment or CDs?

I don't think you should pay a higher down payment unless that can reduce the overall interest rate. It's very difficult to get the money back -- you have to do a mortgage refinance which is costly and takes a long time. I think you should keep the money for emergency and for other opportunities. Yo...
by gougou
Thu Sep 28, 2017 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: 27yo looking for advice on first house budget
Replies: 29
Views: 2504

Re: 27yo looking for advice on first house budget

I don't think you should cheap out on your house. If you buy a 250K house and need to move to a bigger/better house 5 years later, there will be a lot of expenses involved, and that bigger house is probably going to cost more than today. If you are staying in the city long term, then you should buy ...