Search found 576 matches

by Nissanzx1
Wed Jul 17, 2019 4:04 am
Forum: Personal Investments
Topic: Should I refinance my home loan?
Replies: 7
Views: 661

Re: Should I refinance my home loan?

The 30 year note is generally for people buying at the max borrow they can qualify for, or people who just aren’t really adding up the costs of borrowing- lol or both. There is massive opportunity cost of paying off mortgage in 15 years versus 30 years. Interest isn't the only cost. Also, not every...
by Nissanzx1
Wed Jul 17, 2019 3:49 am
Forum: Investing - Theory, News & General
Topic: Merrill Lynch = Thieves?
Replies: 7
Views: 752

Re: Merrill Lynch = Thieves?

I can almost guarantee whatever Dad signed allowed them to do what they did. It truly is shark infested waters... I’m so sorry, that’s insane and would make me furious...
by Nissanzx1
Tue Jul 16, 2019 10:47 pm
Forum: Personal Investments
Topic: Should I refinance my home loan?
Replies: 7
Views: 661

Re: Should I refinance my home loan?

Your rate is decent, I suppose it’s worth shopping it around. If you are really concerned about how much interest you are paying, you need to be in a 15 year note and payoff early. The 30 year note is generally for people buying at the max borrow they can qualify for, or people who just aren’t reall...
by Nissanzx1
Tue Jul 16, 2019 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: 1 million in liquid assets or paid off mortgage by 40?
Replies: 32
Views: 2299

Re: 1 million in liquid assets or paid off mortgage by 40?

Either of them are great financial goals. We paid off the home at 39. 41 now, Not millionaires yet be we can see it on the horizon hopefully in the next few years. I do have to say that these are kinda arbitrary goals and honestly I wouldn’t let either consume me. Gotta live life too :). 60 years fr...
by Nissanzx1
Tue Jul 16, 2019 10:30 pm
Forum: Investing - Theory, News & General
Topic: Do you care about your home appreciating?
Replies: 58
Views: 2529

Re: Do you care about your home appreciating?

Current home has climbed 32% alledegly in past 6 years. Past one I left $25000 in the street on repairs so I guess it averages out. I consider home really more of a lifestyle decision than anything. Ideally I’d like to loose no money but it’s more about day to day life than appreciation. It just mea...
by Nissanzx1
Sun Jul 14, 2019 7:45 am
Forum: Personal Consumer Issues
Topic: Should I Buy a Motorcycle?
Replies: 59
Views: 2575

Re: Should I Buy a Motorcycle?

Yes financing it will hurt you. You already have one reasonably large auto loan outstanding. Lender will not like seeing two auto notes on the application, it will throw the debt/income ratio further off. If your number one goal is really getting the home built, spend the rest of this year paying do...
by Nissanzx1
Sun Jul 07, 2019 10:30 pm
Forum: Personal Investments
Topic: Anyone itching to dabble in crypto?
Replies: 46
Views: 2782

Re: Anyone itching to dabble in crypto?

Never heard of her. Lol seriously though, no I wouldn’t even suggest this to an enemy...
by Nissanzx1
Wed Jul 03, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: The Day Has Come - Hit Retirement Number - Now What?
Replies: 103
Views: 10096

Re: The Day Has Come - Hit Retirement Number - Now What?

I’d just stay where you are until you find the answer to work that you might really love. Set a goal by X months you are out of that job and on to something you like that’s fulfilling. This market will pull up and down hard and you will feel much less flush with the major indexes halved when it does...
by Nissanzx1
Fri Jun 28, 2019 6:44 am
Forum: Personal Investments
Topic: Sold one of two houses. Pay off the other house?
Replies: 18
Views: 1583

Re: Sold one of two houses. Pay off the other house?

As long as their is a 6 month emergency fund in place, I’d pay the house off. The mortgage tax deduction is an absolute joke that people like to use to justify long-term mortgage debt as “smart.” Its not smart. What’s smart is paying off your home early and investing large portions of your income fo...
by Nissanzx1
Fri Jun 21, 2019 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Permanent DINK couples - Considerations, thoughts, etc?
Replies: 97
Views: 10140

Re: Permanent DINK couples - Considerations, thoughts, etc?

We are DINKs Male 41, Female 37. We would love kids, just hasn’t happened for us yet. We run about 12 month Emergency Fund, paid-for modest 1700 SQ Ft home. We have small (250K) term life policies. We probably save 30% between IRA’s, 401K’s, brokerage, etc. Plan is to leave it to our 29 nieces and n...
by Nissanzx1
Fri Jun 14, 2019 12:21 pm
Forum: Personal Investments
Topic: Purchasing home with less than 20% downpayment experiences?
Replies: 52
Views: 3467

Re: Purchasing home with less than 20% downpayment experiences?

I did zero down FHA when I purchased my first home. Lived there for 10 years. Made every payment on time. Refinanced twice, one to remove girlfriend and another to move for 15 year vs 30. Never took any cash out. After ten years walked away with $7000 upon sale. Make $675 payments for 10 years. I p...
by Nissanzx1
Fri Jun 14, 2019 7:24 am
Forum: Personal Consumer Issues
Topic: Buy Mini-Van Tomorrow or No?
Replies: 59
Views: 3349

Re: Buy Mini-Van Tomorrow or No?

Minivans are handy. Your current cars aren’t bad. Suits the needs of immediate family.

Personally if I can’t pay cash, the answer is always no. Especially if there was already another car with outstanding payments.

Just my $.02
by Nissanzx1
Fri Jun 14, 2019 12:13 am
Forum: Personal Consumer Issues
Topic: Alternatives to car rental for three months?
Replies: 57
Views: 3872

Re: Alternatives to car rental for three months?

Just buy something inexpensive and dump it when done.
by Nissanzx1
Thu Jun 13, 2019 10:24 pm
Forum: Personal Consumer Issues
Topic: Side x Side/Utility Vehicle
Replies: 20
Views: 1296

Re: Side x Side/Utility Vehicle

I am not an expert but have experience being around them. My folks have a basic Mule 4x4. It was around $8000 and drives beautifully and they even pull a trailer with it sometimes. I have friends with Polaris side by side Utility and Sport models as well. They seem pretty well made, one Polaris Rang...
by Nissanzx1
Thu Jun 13, 2019 6:43 am
Forum: Personal Investments
Topic: Purchasing home with less than 20% downpayment experiences?
Replies: 52
Views: 3467

Re: Purchasing home with less than 20% downpayment experiences?

I did zero down FHA when I purchased my first home. Lived there for 10 years. Made every payment on time. Refinanced twice, one to remove girlfriend and another to move for 15 year vs 30. Never took any cash out. After ten years walked away with $7000 upon sale. Make $675 payments for 10 years. I pa...
by Nissanzx1
Mon Jun 10, 2019 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for potential second home purchase
Replies: 8
Views: 1165

Re: Planning for potential second home purchase

Seems like there are quite a few unknowns here. Long distance land lording is not without its challenges... $350K plus $750K owed on mortgages is quite a bit to chew with this net worth. I’m kind of sweating just thinking about it quite frankly. In the meantime, I’d be cutting lifestyle and socking ...
by Nissanzx1
Thu Jun 06, 2019 11:10 pm
Forum: Personal Investments
Topic: $10,200 Gross commission Check... What would you do with it?
Replies: 31
Views: 3297

Re: $10,200 Gross commission Check... What would you do with it?

Congrats on the big check! Good stuff.

2 and 4 would be what I’d do in your shoes. It’s time to clean those up. Curious what you bought with the credit card?

If you don’t have 3-6 months expenses liquid in savings I’d use the leftover amount to jump start that... otherwise I’d do the Roth.
by Nissanzx1
Thu Jun 06, 2019 6:26 am
Forum: Personal Investments
Topic: TSP Loan for Real Estate Investment
Replies: 18
Views: 720

Re: TSP Loan for Real Estate Investment

Don't do anything with partners especially with real estate. Why not? The D’s: Divorce Death Disinterest Drug/alcohol Addiction Default No way I’d do this deal. Save up and pay cash for your rentals. You will find that it’s a much cleaner way of doing business and as stress free as possible. I’d ra...
by Nissanzx1
Wed Jun 05, 2019 3:03 am
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 7142

Re: Do you drive old cars for long distance travels?

Yes just returned 10 hour round trip in 2003 Honda with 281K.
by Nissanzx1
Sun Jun 02, 2019 9:28 pm
Forum: Personal Investments
Topic: Do I need a financial planner or investment advisor or just this forum?
Replies: 30
Views: 2984

Re: Do I need a financial planner or investment advisor or just this forum?

Stick around here and most readers will agree a paid advisor isn’t really necessary. People can get into trouble with asset allocation simply because there are nearly endless possibilities. Suggested reading: Jim Collins, the Simple Path to Wealth. Some people think that something as hairy as the su...
by Nissanzx1
Sun Jun 02, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off debt or create passive income?
Replies: 12
Views: 1063

Re: Pay off debt or create passive income?

I’m getting anxiety for you and your family just reading this. Listen to your wife. Please don’t build a house of cards on a windy day. We have rentals but rentals come only after all other debts are paid and we also pay cash for ours because we want as little risk as possible. I personally wouldn’t...
by Nissanzx1
Sun Jun 02, 2019 5:20 pm
Forum: Personal Investments
Topic: 31 and needing outsider critique on finances - Correct Format!
Replies: 38
Views: 5036

Re: 31 and needing outsider critique on finances

You are doing better than many your age. I’m most concerned with the credit card debt. Not because of anything other than your willingness to even flirt with it. If I were in your shoes I’d be most concerned with eliminating the credit card, student loans, and increasing the emergency fund. You nee...
by Nissanzx1
Sun Jun 02, 2019 10:31 am
Forum: Personal Investments
Topic: 31 and needing outsider critique on finances - Correct Format!
Replies: 38
Views: 5036

Re: 31 and needing outsider critique on finances

You are doing better than many your age. I’m most concerned with the credit card debt. Not because of anything other than your willingness to even flirt with it. If I were in your shoes I’d be most concerned with eliminating the credit card, student loans, and increasing the emergency fund. You need...
by Nissanzx1
Sat Jun 01, 2019 11:22 pm
Forum: Personal Consumer Issues
Topic: Negotiate for Used Car via Email
Replies: 13
Views: 948

Re: Negotiate for Used Car via Email

Used car buying requires a face to face negotiation because the vehicle must be driven and inspected. No reason to be afraid of this, polite but firm is the way to be. Explain what the car needs to be useful to you, make your offer, and walk away if they don’t take it. Don’t be unreasonable or unkin...
by Nissanzx1
Sat Jun 01, 2019 3:16 pm
Forum: Personal Consumer Issues
Topic: Thinking of leasing bmw 3 series
Replies: 56
Views: 4324

Re: Thinking of leasing bmw 3 series

For me it just really shakes out to the math. Add up the maintenance and repairs. You will likely find that leasing is more expensive unless you have had awful luck with major mechanical problems. Newer cars have more expensive property taxes, sales taxes, and insurance so that’s all worth consideri...
by Nissanzx1
Wed May 29, 2019 7:34 pm
Forum: Personal Consumer Issues
Topic: Home buying
Replies: 50
Views: 2570

Re: Home buying

That's completely unnecessary to actually buy the house. You don't need to know if a roof will cost 12k or 15k to go through with buying. 3 grand isn't worth the trouble to deal with 9 separate contractor appointments around here. That would be about 25 appointments to have 9 actually show up. Oh w...
by Nissanzx1
Wed May 29, 2019 3:45 pm
Forum: Personal Consumer Issues
Topic: Home buying
Replies: 50
Views: 2570

Re: Home buying

People telling you to get 3 estimates haven't bought a house in over 2 decades I'm guessing. Its just not practical to do that when buying a house for these types of relatively minor issues. Getting 3 contractors out in a week when you a house is nearly impossible let alone trying to coordinate tha...
by Nissanzx1
Wed May 29, 2019 9:05 am
Forum: Personal Consumer Issues
Topic: Home buying
Replies: 50
Views: 2570

Re: Home buying

People telling you to get 3 estimates haven't bought a house in over 2 decades I'm guessing. Its just not practical to do that when buying a house for these types of relatively minor issues. Getting 3 contractors out in a week when you a house is nearly impossible let alone trying to coordinate tha...
by Nissanzx1
Wed May 29, 2019 8:05 am
Forum: Personal Consumer Issues
Topic: Home buying
Replies: 50
Views: 2570

Re: Home buying

Greetings- this is all pretty normal stuff. A house is more of a lifestyle choice and will always be expensive to maintain. Negotiate with the seller and see if you can come to terms. Thousands need spent it sounds like, seller will know that... move on to another house, there is one on every corner...
by Nissanzx1
Mon May 27, 2019 1:19 pm
Forum: Personal Consumer Issues
Topic: Replacing wood windows - a little lost
Replies: 18
Views: 1336

Re: Replacing wood windows - a little lost

You might visit a Home Depot. They will be able to get you wood windows special order and help you find an installer. The price will be reasonable. Pella windows are very nice but sticker shock is to be expected. Parents replaced four Pella windows a couple years back ($16,000 Bill). I see, thanks ...
by Nissanzx1
Mon May 27, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: State Farm Billing
Replies: 6
Views: 1105

Re: State Farm Billing

Trust me, they will get you the bill eventually. They are good at that.
by Nissanzx1
Mon May 27, 2019 7:31 am
Forum: Personal Consumer Issues
Topic: Replacing wood windows - a little lost
Replies: 18
Views: 1336

Re: Replacing wood windows - a little lost

You might visit a Home Depot. They will be able to get you wood windows special order and help you find an installer. The price will be reasonable.

Pella windows are very nice but sticker shock is to be expected. Parents replaced four Pella windows a couple years back ($16,000 Bill).
by Nissanzx1
Mon May 27, 2019 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Financial checkup
Replies: 16
Views: 1182

Re: Financial checkup

I think you are doing very well. Much better than I was at your age. Keep up the good work! As for home purchase, best advice is to buy only when you have minimum 20% down (still must have 6 month emergency fund on top of that) and payment is no more than 25% of take home pay on 15 year fixed. This ...
by Nissanzx1
Mon May 27, 2019 6:58 am
Forum: Personal Investments
Topic: Too many eggs in one basket?
Replies: 43
Views: 4939

Re: Too many eggs in one basket?

Yep, the only way this works, is if it works. I’d personally pay off the shares you have and only buy more if you have cash and be cautious letting single stocks creep more than 10-15% of portfolio. Anything more is risk that you don’t really have to put on your young family. Your income is fantasti...
by Nissanzx1
Mon May 27, 2019 6:31 am
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

Take option one, pay the $110K cash and do it again in 2-3 years with money you save from your job/career and the rents. Do it every 2-3 years until FI. If this investment is really worth it, you will have no problem doing this with “your” money. All income from w-2 jobs going forward will be inves...
by Nissanzx1
Mon May 27, 2019 6:21 am
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

Sounds reasonable, have you had both sewers inspected by camera? I do not plan on having them inspected. Age of property? Only reason I ask is our first property I was pretty sure I knew what I was doing and ended up with a $4500 sewer line. Also just this year we lost a contract on a home when we ...
by Nissanzx1
Sun May 26, 2019 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

One wall of a duplex needs new siding, 4 exterior doors require trim work, 2 units might need new heaters but I have to wait until the city comes to inspect them to see if they meet their plan requirements. Several room transitions need trim as you can see studs sandwiched by sheetrock. The foundati...
by Nissanzx1
Sun May 26, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

There are repairs needed as the current owner did not keep up on maintenance. Thus began this entire thread as I am debating increasing the mortgage and placing the repair funds in an escrow account vs using some of the remaining working capital to immediately fund repairs in detriment to buying add...
by Nissanzx1
Sun May 26, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

I don’t believe that debt is ever wise, I’m sorry. I should lie and tell you to borrow everything that they will give you because, full disclosure, I’m heavily invested in securities that lend on credit cards, mortgages, car loans, and personal loans. I’m not saying you are foolish or that you won’...
by Nissanzx1
Sun May 26, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: House not selling
Replies: 134
Views: 10459

Re: House not selling

Only 2 reason why something won’t sell:

It’s not priced right

Or

It’s not ready to go

Take a fresh walk around the property and visit competing open houses this week to make sure you are in line.
by Nissanzx1
Sun May 26, 2019 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

I realize that debt is the way most people buy investment property, it’s a great way to get into trouble. There isn’t enough left after the bank interest, taxes, repairs, insurance, etc for the person buying on debt to make much (rare exception is someone who steals the property and does the repair...
by Nissanzx1
Sun May 26, 2019 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: 4M 70K expenses would you stop?
Replies: 105
Views: 10856

Re: 4M 70K expenses would you stop?

No way would I work full time in this financial position.
by Nissanzx1
Sun May 26, 2019 4:37 pm
Forum: Personal Consumer Issues
Topic: Worth it to upgrade 2nd car in 1.5 car household?
Replies: 22
Views: 1704

Re: Worth it to upgrade 2nd car in 1.5 car household?

I would make zero purchases until baby is here healthy and happy. After that, if you have the cash over and above healthy emergency fund, go for it...
by Nissanzx1
Sun May 26, 2019 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Debt vs Savings
Replies: 47
Views: 4437

Re: Debt vs Savings

I would suggest you look into Dave Ramsey’s program. I think you could greatly benefit from the debt snowball. Your low cash emergency fund and high credit card balances would be my chief concerns. This suggests to me that your lifestyle needs brought down a touch to be more in line with your income.
by Nissanzx1
Sun May 26, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

I’d rather have 4 properties with 100% equity. I’m not good sharing anything, and certainly not into sharing a slice of my cut with a lender. To each his/her own but this is my perspective. I thought the whole point was to have your tenants pay the mortgage for you, so I don’t get where the “sharin...
by Nissanzx1
Sun May 26, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

Landlord here. We don’t borrow for anything. You will find that any borrowing eats into your margin significantly and increases your risks. Keep money around, lots of cash. We have spent over $12,000 so far this year in repairs. Former landlord here. I have a different perspective. While keeping he...
by Nissanzx1
Sun May 26, 2019 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Should I roll repairs into the mortgage?
Replies: 39
Views: 2262

Re: Should I roll repairs into the mortgage?

Landlord here. We don’t borrow for anything. You will find that any borrowing eats into your margin significantly and increases your risks. Keep money around, lots of cash. We have spent over $12,000 so far this year in repairs. As for lending “write off’s” this is one of the biggest scams perpetuat...
by Nissanzx1
Sun May 26, 2019 7:09 am
Forum: Personal Consumer Issues
Topic: Should I replace my AC?
Replies: 27
Views: 2311

Re: Should I replace my AC?

Do you have $2000 cash laying for home repairs? If so, I’d get 4-5 bids and look at replacing it... if you would have to borrow, I would add refrigerant and start saving.

We just went through this and found swings of a thousand plus dollars in either direction...
by Nissanzx1
Tue May 21, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: Anybody recommending Windows World?
Replies: 22
Views: 1734

Re: Anybody recommending Windows World?

I did recently replace about 15 windows in a rental. Paid around $2600 with tax from the Home Depot. Simple white vinyl, single hung. They look pretty good! I did them all myself slowly over a few weeks. That way I know they are done right and had the right silicone applied, etc. I have heard the go...
by Nissanzx1
Wed May 15, 2019 7:58 am
Forum: Personal Consumer Issues
Topic: Dealer or Local Mechanic?
Replies: 41
Views: 1991

Re: Dealer or Local Mechanic?

I do everything I can myself. If I can’t figure it out, I send it to my local independent mechanic.

I had a dealer once charge me $462 for an oil change. That was it for me.