Search found 90 matches

by dmk395
Sat May 09, 2020 1:04 am
Forum: Personal Consumer Issues
Topic: Should you tip landscapers?
Replies: 51
Views: 4657

Re: Should you tip landscapers?

I own a landscape company. Trust me handing guys $20 every so often that take care of your yard goes a LONG way
by dmk395
Sun Feb 02, 2020 8:17 am
Forum: Personal Consumer Issues
Topic: When to Replace Roof vs. Repair?
Replies: 41
Views: 3127

Re: When to Replace Roof vs. Repair?

Do a complete re-roof. New roof will also raise the value of your property. Roofs are done very different than 25 yrs ago. Architectural shingles last longer, ice and water shield is put down etc. I recently had shingles blow off, then they kept blowing off and ruined a ceiling. Wish I'd just replac...
by dmk395
Wed Dec 18, 2019 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Gifts to your employees- how much?
Replies: 113
Views: 7405

Re: Gifts to your employees- how much?

Small service company, usually around 500 to foreman, 100-200 to other workers
by dmk395
Tue Dec 17, 2019 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: refinance second home
Replies: 2
Views: 302

refinance second home

Original loan $173k. 4.125% $838 month payment roughly Current balance with a bit less than 3 years into the 30 yr loan balance is $159,800 Got an offer to refinance today at 3.675% with 2500 in closing costs. I'd save $100 per month. I've been accelerating payments, but I always like saving money m...
by dmk395
Tue Dec 17, 2019 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance versus LLC approach to limit real estate liability
Replies: 28
Views: 1790

Re: Umbrella Insurance versus LLC approach to limit real estate liability

Get a couple million in an umbrella policy. Don't do anything negligent. (fix things that are broken) Just had a conversation with my attorney about the same thing. State laws vary though.
by dmk395
Fri Dec 06, 2019 8:17 am
Forum: Personal Consumer Issues
Topic: Another roofing question - roofing color/surface?
Replies: 19
Views: 1346

Re: Another roofing question - roofing color/surface?

For similar reasons I went with Certain Teed Landmark shingle color "weathered wood". The stains I saw near my two most recently shingled houses would blend better with this color. Perhaps it works for you.
by dmk395
Sat Nov 23, 2019 1:37 am
Forum: Personal Consumer Issues
Topic: Rationale for buying new work truck
Replies: 27
Views: 1732

Re: Rationale for buying new work truck

My crew of landscape workers daily driver is a 15 yr old Ford F250 with 70k miles. The truck looks good, no rot etc. The past two years I've spent close to $6,000 in repairs (tires were 1k). Only one time was a breakdown which interrupted a work day. I've debated buying a new truck. However at 30k ...
by dmk395
Sat Nov 23, 2019 1:32 am
Forum: Personal Consumer Issues
Topic: Rationale for buying new work truck
Replies: 27
Views: 1732

Re: Rationale for buying new work truck

Dilbydog wrote: Fri Nov 22, 2019 10:31 pm Is the F250 a diesel with the 6.0L?
gas
by dmk395
Thu Nov 21, 2019 11:26 pm
Forum: Personal Consumer Issues
Topic: Rationale for buying new work truck
Replies: 27
Views: 1732

Rationale for buying new work truck

My crew of landscape workers daily driver is a 15 yr old Ford F250 with 70k miles. The truck looks good, no rot etc. The past two years I've spent close to $6,000 in repairs (tires were 1k). Only one time was a breakdown which interrupted a work day. I've debated buying a new truck. However at 30k m...
by dmk395
Wed Nov 13, 2019 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Re: Should I do a cash out refinance?

These are investment properties bought 15-20 years ago....
by dmk395
Wed Nov 13, 2019 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Re: Should I do a cash out refinance?

I'm 40. But I can see from the responses here not many here really owns a BUNCH of property. Repairs happen as properties age, its part of the game. Same as vacancy. While I do set aside reserves, when you have multiple vacancies all of a sudden, from long term tenants the reserves get drained....h...
by dmk395
Tue Nov 12, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Re: Should I do a cash out refinance?

Luke Duke wrote: Tue Nov 12, 2019 11:47 am I'd probably do it. Rates are low.

How old are you and what are your long-term plans with your rentals? Acquire more? Sell them when you retire? Keep them forever?
My plan is to keep forever. I have 10 units. I'd acquire more but there's not much cash flowing now.
by dmk395
Tue Nov 12, 2019 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Re: Should I do a cash out refinance?

I'm 40. But I can see from the responses here not many here really owns a BUNCH of property. Repairs happen as properties age, its part of the game. Same as vacancy. While I do set aside reserves, when you have multiple vacancies all of a sudden, from long term tenants the reserves get drained....h...
by dmk395
Tue Nov 12, 2019 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Re: Should I do a cash out refinance?

I'm 40. But I can see from the responses here not many here really owns a BUNCH of property. Repairs happen as properties age, its part of the game. Same as vacancy. While I do set aside reserves, when you have multiple vacancies all of a sudden, from long term tenants the reserves get drained....he...
by dmk395
Tue Nov 12, 2019 2:24 am
Forum: Personal Finance (Not Investing)
Topic: Should I do a cash out refinance?
Replies: 24
Views: 1990

Should I do a cash out refinance?

I own a few rental properties and I've noticed repairs on these older buildings are getting more expensive as my band aid repairs and just wear and tear over the year's is catching up. Rents have also risen quite a bit though. Long term tenant moved out in one building. With renovations the unit wil...
by dmk395
Sat Oct 19, 2019 7:15 am
Forum: Personal Consumer Issues
Topic: selling house, should we put in sod to replace ugly lawn?
Replies: 45
Views: 4263

Re: selling house, should we put in sod to replace ugly lawn?

As someone who has owned a lawn care business for 20 years, there's a couple things you've gotta realize about sod. Sod needs a lot of water, underground sprinklers are a must. It's also high maintenance. Once it dies, its more of a pain to deal with. Why not just hire a landscape company to get it ...
by dmk395
Tue Oct 01, 2019 7:19 am
Forum: Personal Consumer Issues
Topic: Suggestions for good leather shoe?
Replies: 43
Views: 4913

Re: Suggestions for good leather shoe?

Becket simonon
You'll wait 8 weeks but they make some solid shoes
by dmk395
Tue Oct 01, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Cashing out RE appreciation or keeping the rental cash flow?
Replies: 44
Views: 3633

Re: Cashing out RE appreciation or keeping the rental cash flow?

I'd sell immediately. Your cash flow is not on par with value. $300k in a cd would get you $500 per month with ZERO stress.
by dmk395
Tue Sep 17, 2019 7:14 am
Forum: Personal Investments
Topic: Selling Rental Properties. What to do with proceeds? 3 different scenarios
Replies: 17
Views: 1853

Re: Selling Rental Properties. What to do with proceeds? 3 different scenarios

With the looks of how your doing overall, I don't think you can really go wrong either way. You've won the game.
by dmk395
Sun Sep 15, 2019 8:16 am
Forum: Personal Consumer Issues
Topic: Best Leaf Blower?
Replies: 70
Views: 5027

Re: Best Leaf Blower?

I own a landscape company. I'd suggest going to your local equipment dealer and grabbing the biggest Stihl backpack blower you can handle/afford. For $500 you'll have something that will last a lifetime....
by dmk395
Sun Sep 15, 2019 8:14 am
Forum: Personal Investments
Topic: Where to deploy a lump sum
Replies: 7
Views: 834

Re: Where to deploy a lump sum

Can at least do high interest savings account that yields 2.15% or so. What's the math? Like 70% of the time you are better off investing the entire lump sum at once. 16.6k each month for 12 months in a large index. You will get the 1 year average. I have same situation as you. So far I have been m...
by dmk395
Sun Sep 15, 2019 7:45 am
Forum: Personal Investments
Topic: Where to deploy a lump sum
Replies: 7
Views: 834

Where to deploy a lump sum

With things the way they are where do I deploy a lump sum of 200k? My fix flip houses seem to have dried up, need to do something passive with this cash, better than earning peanuts in interest at the bank. Thought of deploying in the SP500 index fund, where the yield is now better than the 10 yr bo...
by dmk395
Sun Aug 04, 2019 12:43 pm
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Re: Not sure I could FIRE...boredom might ensue...

FI4LIFE wrote: Sat Aug 03, 2019 12:01 pm Go seasonal with the the business and hire a management company for the rentals.
I am more or less able to take 2 full months off over the winter, which is awesome. Except for with the rentals you do get the occasion heat emergency etc. This is really the only tough thing to deal with.....
by dmk395
Sun Aug 04, 2019 12:41 pm
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Re: Not sure I could FIRE...boredom might ensue...

Goal33 wrote: Sun Aug 04, 2019 10:20 am I don’t understand why you’re holding so much cash instead of taking care of those mortgages.
I will flip a house on occasion. With that I need access to large amounts of cash.
by dmk395
Sun Aug 04, 2019 6:32 am
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Re: Not sure I could FIRE...boredom might ensue...

Looking for where to go next. 40 not married with long time GF. Some would say FIRE, but I think I'd get bored. I'm used to working 60 hour weeks. Now I'm doing 35-40 hr. weeks and its not that big a deal. Would like to drop my hours a bit more, but not to 0, as I don't want to be too idle. Cash 35...
by dmk395
Sat Aug 03, 2019 8:26 am
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Re: Not sure I could FIRE...boredom might ensue...

Think I understand what you're feeling. There are several things to be very proud/appreciative of in your situation. You have a contracting and rental business which provides some flexibility. You have the flexibility to (1) set your hours, (2) hire vs. DIY, (3) and expand or contract your contract...
by dmk395
Sat Aug 03, 2019 7:30 am
Forum: Personal Consumer Issues
Topic: Insane to buy a sports car?
Replies: 215
Views: 13046

Re: Insane to buy a sports car?

With your savings and income I'd say buy it, cash! However I'd also up your liability insurance and maybe even an umbrella policy (to be responsible) ha
by dmk395
Sat Aug 03, 2019 7:27 am
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Re: Not sure I could FIRE...boredom might ensue...

Sounds like you are doing great. IMO where you go next at age 40 is dependent on your long term goals. How much do you need to fund your retirement expenses (net of retirement income) and by what age do you need to hit this number? Once you identify the how much more you need to accumulate and the ...
by dmk395
Sat Aug 03, 2019 7:10 am
Forum: Personal Investments
Topic: Not sure I could FIRE...boredom might ensue...
Replies: 30
Views: 4172

Not sure I could FIRE...boredom might ensue...

Looking for where to go next. 40 not married with long time GF. Some would say FIRE, but I think I'd get bored. I'm used to working 60 hour weeks. Now I'm doing 35-40 hr. weeks and its not that big a deal. Would like to drop my hours a bit more, but not to 0, as I don't want to be too idle. Cash 350...
by dmk395
Thu Jul 04, 2019 6:56 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: 4479

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

Pay your dad off. Save a bit more, then go for the car. With your income, savings should be much higher.
by dmk395
Sun May 05, 2019 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off my primary residence
Replies: 6
Views: 1153

Re: Paying off my primary residence

At 39, I never really thought I'd do this, but after reading a lot here I became motivated and knocked it out within 9 years. Congrats dmk395. Must be a great feeling and now you get to decide what to do with the monthly surplus. Takes a lot of discipline to save and prepay for an early mortgage ta...
by dmk395
Sun May 05, 2019 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off my primary residence
Replies: 6
Views: 1153

Re: Paying off my primary residence

At 39, I never really thought I'd do this, but after reading a lot here I became motivated and knocked it out within 9 years. Congrats dmk395. Must be a great feeling and now you get to decide what to do with the monthly surplus. Takes a lot of discipline to save and prepay for an early mortgage ta...
by dmk395
Sun May 05, 2019 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Paying off my primary residence
Replies: 6
Views: 1153

Paying off my primary residence

One step closer to real financial freedom. Recently decided to sell off my SP500 index funds after we hit another high, and pay down my mortgage. Last statement was for $19,000 where nearly everything went to principal. (versus the other way around) At 39, I never really thought I'd do this, but aft...
by dmk395
Sun Apr 28, 2019 7:28 am
Forum: Personal Investments
Topic: 2,000,000. Now what?
Replies: 45
Views: 10015

Re: 2,000,000. Now what?

You're doing great. I'm going to approach this differently and say this. Protect what you have first! Get high liability insurances on vehicles and an umbrella policy.
by dmk395
Sun Apr 28, 2019 7:24 am
Forum: Personal Investments
Topic: pay down mortgage vs. invest in taxable?
Replies: 30
Views: 3635

Re: pay down mortgage vs. invest in taxable?

I'd go 50/50. You can't go wrong either way, gives you eggs in both baskets.
by dmk395
Sun Apr 21, 2019 6:54 am
Forum: Personal Investments
Topic: $1.1 million rental portfolio, but tired of being a landlord
Replies: 87
Views: 12098

Re: $1.1 million rental portfolio, but tired of being a landlord

I know the feeling. Dealing with tenants can be very DIFFICULT and stressful. A few thing I've done recently that have helped. Hire more stuff out. Get a good contractor, and not fix most things myself. Hired a real estate agent to handle filling empty units. This has been awesome because I realized...
by dmk395
Thu Mar 14, 2019 8:50 am
Forum: Personal Consumer Issues
Topic: lawn care cost
Replies: 107
Views: 10496

Re: lawn care cost

I own a company in MA. It's rare anything is under $45 per cut. That's of course your typical New England half acre lot. Most are $50-55 per cut. We cut and bag everything, trim the edges with a weedwhacker and blow off the paved edges with a blower. Most of our clients have sprinkler systems and ar...
by dmk395
Mon Feb 25, 2019 7:25 am
Forum: Personal Investments
Topic: Invest vs. Pay Down
Replies: 12
Views: 1409

Re: Invest vs. Pay Down

Get rid of PMI asap
by dmk395
Tue Jan 22, 2019 8:53 pm
Forum: Personal Consumer Issues
Topic: Electric bill with LED
Replies: 114
Views: 9654

Re: Electric bill with LED

As an update, I've used about 20% less KWH from the previous month, and also the same month last year.
I'm pleased.
by dmk395
Thu Jan 10, 2019 7:53 pm
Forum: Investing - Theory, News & General
Topic: Realty Shares
Replies: 1
Views: 318

Realty Shares

Anyone have issues getting their principle back? I invested in a property in Atlanta, thankfully only 5k. Loan was supposed to be paid off Dec. 30. Haven't seen anything in my bank account yet, not interest payment for December. The group of us who invested in this are the first lien holders so I'd ...
by dmk395
Thu Jan 10, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Under $100k Avg Annual Income Millionaires and How You Did It?
Replies: 117
Views: 15312

Re: Under $100k Avg Annual Income Millionaires and How You Did It?

No kids, lived below means. Biggest thing though was getting into real estate at a young age.
by dmk395
Mon Dec 31, 2018 2:42 pm
Forum: Personal Investments
Topic: Cash out gains?
Replies: 7
Views: 650

Re: Cash out gains?

I've been dollar cost averaging my SP500 index fund for about 15 years consistently. Really debating on taking out my gains, using them to pay down 25% of my house mortgage, and let the rest ride......thoughts? Not looking to go to Vegas or a anything with the gains....lol Option: DCA (dollar cost ...
by dmk395
Mon Dec 31, 2018 1:20 pm
Forum: Personal Investments
Topic: Cash out gains?
Replies: 7
Views: 650

Re: Cash out gains?

chevca wrote: Mon Dec 31, 2018 11:43 am What is your mortgage rate?

Why didn't you throw extra money at the mortgage in the past rather than in the S&P 500?

3.75%
I've been rapidly paying down and investing in the SP500. At 39 if I had no mortgage debt on all 6 properties I own, I could easily live off the rental income...
by dmk395
Mon Dec 31, 2018 11:05 am
Forum: Personal Investments
Topic: Cash out gains?
Replies: 7
Views: 650

Cash out gains?

I've been dollar cost averaging my SP500 index fund for about 15 years consistently. Really debating on taking out my gains, using them to pay down 25% of my house mortgage, and let the rest ride......thoughts?

Not looking to go to Vegas or a anything with the gains....lol
by dmk395
Mon Dec 17, 2018 8:26 pm
Forum: Personal Consumer Issues
Topic: Low flow shower head
Replies: 42
Views: 2710

Re: Low flow shower head

I'm trying to save money, water and energy. Based on running numbers, I will accomplish my goal
by dmk395
Mon Dec 17, 2018 7:29 am
Forum: Personal Consumer Issues
Topic: Low flow shower head
Replies: 42
Views: 2710

Re: Low flow shower head

Mike Scott wrote: Sun Dec 16, 2018 9:54 pm We have a couple of these on a fairly low pressure water system and they work well. High Sierra's All Metal 1.5 GPM High Efficiency Low Flow Showerhead. Available in: Chrome, Brushed Nickel, Oil Rubbed Bronze, or Polished Brass

just purchased on amazon, thanks for the rec
by dmk395
Sun Dec 16, 2018 9:16 pm
Forum: Personal Consumer Issues
Topic: Low flow shower head
Replies: 42
Views: 2710

Re: Low flow shower head

While saving water, I'm also thinking about saving propane, since that heats my water. Cutting my shower water usage by nearly half will surely cut my gas bill.
by dmk395
Sun Dec 16, 2018 7:14 pm
Forum: Personal Consumer Issues
Topic: Low flow shower head
Replies: 42
Views: 2710

Low flow shower head

Just looked and saw my 2 are pumping out 2.5 gpm. Seems there's quite a few doing 1.5 gpm. Anyone switch to one they like with good results?
I work out a lot and shower twice a day without any trouble. Figuring this could really help.