Search found 78 matches

by Yellowhouse
Fri Sep 13, 2019 8:03 pm
Forum: Personal Consumer Issues
Topic: High-dollar Plumbing Issue Decision
Replies: 21
Views: 3197

Re: High-dollar Plumbing Issue Decision

You must not hire #5. I've been in construction for over 20 years and seeing that low ball bid among 4 professional bids should be eye opening.

Use your common sense, if you're replacing cast iron sewer piping in four different buildings, it's going to be more than $1,250/building!!!
by Yellowhouse
Fri Sep 13, 2019 7:54 pm
Forum: Personal Consumer Issues
Topic: Hardie Siding Nailing at window trim location
Replies: 5
Views: 547

Re: Hardie Siding Nailing at window trim location

I'm a professional painter and I've painted my share of Hardie board. On the jobs I've been associated with, it seems they simply nail the hardie board to the plywood sheathing. You should get plenty of bite with this manner. As a painter, we typically caulk where the siding meets the window trim be...
by Yellowhouse
Mon Sep 02, 2019 8:11 am
Forum: Personal Consumer Issues
Topic: How to repair drywall damaged by water leak
Replies: 17
Views: 1405

Re: How to repair drywall damaged by water leak

A lot of this depends on the existing damage AND drywall texture. Is the ceiling textured, smooth, popcorn, etc?? If the drywall still maintains most of its integrity, you can potentially sand it off, primer, and finish coat in that order. Very seldom can you produce a perfect drywall patch. You can...
by Yellowhouse
Sun Aug 25, 2019 2:03 pm
Forum: Personal Investments
Topic: Should I take a loan or not???
Replies: 13
Views: 1072

Re: Should I take a loan or not???

So you’re buying another job. You should start with seeing if you qualify for a loan and at what rate to do a proper analysis. No, I'm trying to intelligently invest my money in a legal way that will give me optimum ROI. If that means "I'm buying another job", very well. The ROI on these things is ...
by Yellowhouse
Sun Aug 25, 2019 2:01 pm
Forum: Personal Investments
Topic: Should I take a loan or not???
Replies: 13
Views: 1072

Re: Should I take a loan or not???

HomeStretch wrote:
Sun Aug 25, 2019 1:49 pm
Is this related to your June 2019 thread about borrowing to build storage units?
viewtopic.php?f=10&t=283487&p=4596015#p4596015
That deal fell through...ignore.Thanks!
by Yellowhouse
Sun Aug 25, 2019 1:55 pm
Forum: Personal Investments
Topic: Should I take a loan or not???
Replies: 13
Views: 1072

Re: Should I take a loan or not???

This would be a serious business venture for us to pursue. In our area, there is a pretty high demand for these things because of the big lakes situated nearby. There is very, very little vacancy. When I stated we need cash flow, I mean just that. We have a small painting business and one rental pro...
by Yellowhouse
Sun Aug 25, 2019 1:41 pm
Forum: Personal Investments
Topic: Should I take a loan or not???
Replies: 13
Views: 1072

Should I take a loan or not???

My wife and I are getting ready to close on a piece of property that we intend on building two boat storage buildings on. The estimated cost to do this is roughly 250k. We have very close to that amount in cash sitting in a savings account. We recently sold a property and that is the proceeds. Shoul...
by Yellowhouse
Thu Aug 22, 2019 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Multi Streams of Income to Build Wealth?
Replies: 44
Views: 2757

Re: Multi Streams of Income to Build Wealth?

I'm of the opinion that the large majority of people who are wealthy, actually inherited their money. It seems most people I know who have money, actually came from money. The wealthiest people I know inherited their wealth, it's largely hand me down money.
by Yellowhouse
Sun Aug 18, 2019 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from Bay area, CA to Knoxville, TN
Replies: 98
Views: 7585

Re: Moving from Bay area, CA to Knoxville, TN

Your definition of a normal house is 3k square feet? A normal house is 1500-1800 square feet...3000 square feet is a humongous home!!

BTW, ditch California and head to Knoxville.
by Yellowhouse
Thu Aug 08, 2019 5:47 pm
Forum: Investing - Theory, News & General
Topic: Tax Loss Harvesting Worth it?
Replies: 176
Views: 12990

Re: Tax Loss Harvesting Worth it?

Personally, I probably will never attempt to TLH. Anything that is that confusing that involves so many perceived moving parts, no frigging thank you!!

I'll happily pay my small tax bill! I'm in a very low tax bracket anyway.
by Yellowhouse
Thu Aug 01, 2019 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Ethics of "bonus payback" when quitting a job
Replies: 158
Views: 11657

Re: Ethics of "bonus payback" when quitting a job

Here's the skinny...since your dad put himself into this position, he absolutely needs to live up to the terms of the payback agreement. Your dad should've been wise enough to negotiate his way around this debacle. He possibly could've negotiated with his future or new employer to at least pay half ...
by Yellowhouse
Fri Jul 19, 2019 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

The reason I didn't put it back on the market is because we have a 2nd deal coming up August 2nd on some acreage we are buying. In order for me to purchase this acreage with cash, I need to close this first deal. We also have to sell it by October to qualify for the 2 for 5 deal that allows you to s...
by Yellowhouse
Thu Jul 18, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

We built a very nice pole barn in 2012 that cost 21k and he assigned a value of only 20k to that building! I'd argue you got lucky there. Surely there has been more than $1000 of depreciation to your pole barn in 5 years. Also kitchen updates are definitely not 1:1 on raising the value of your hous...
by Yellowhouse
Thu Jul 18, 2019 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Why Personal Finance is not taught in Schools in the US
Replies: 59
Views: 3242

Re: Why Personal Finance is not taught in Schools in the US

Why they choose to teach students Algebra and Geometry over Personal Finance is a huge question mark. 100% of students MUST be knowledgeable in personal finance, while an extremely small % will ever be forced to know Algebra or Geometry in their daily lives!! Why do they cram a four year college deg...
by Yellowhouse
Wed Jul 17, 2019 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: How unpleasant is the home buying/selling experience??
Replies: 40
Views: 3990

Re: How unpleasant is the home buying/selling experience??

Don't get me started on real estate agents - I've had awful experiences with multiple agents both buying and selling. I concur!! I look forward to the day when that monopoly crumbles!!! Ditto!! It is hard to believe we still have to pay a middleman 6% of our sales price of our home!! Real estate, o...
by Yellowhouse
Wed Jul 17, 2019 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

Here's the deal...after the appraisal came back very, very light at 230k, the buyer offered 240k. We countered and settled on 245k, they pay closing fees. In a nutshell, the appraisal cost us some money. What we've learned is that the appraiser did an extremely poor job. We built a very nice pole ba...
by Yellowhouse
Mon Jul 15, 2019 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

My property/house is unique in that there's one acre of ground AND a large pole barn. It is also unique in that it sits on a dead end road in a rural setting. However, it's only 9.5 miles to downtown Louisville!!

We aren't in a huge rush to sell either, but of course we'd rather sell.:)
by Yellowhouse
Mon Jul 15, 2019 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

Our market is an extremely HOT real estate market...you might even say it's a bubble. What seems to have happened is that the market is ahead of the appraiser's evaluation. The comps simply aren't in yet, meaning I'm at the leading edge of a monster market. In boglehead speak, I've timed the market ...
by Yellowhouse
Mon Jul 15, 2019 9:37 am
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

Re: House not appraising for amount we were offered!

The house resides in a red hot Louisville/Southern Indiana area. The new East End bridge that opened just two years ago drove the current market into its frenzy. Our house is in very close proximity to the many amenities in the area. I think the buyer is in the process of selling his house. Based on...
by Yellowhouse
Mon Jul 15, 2019 8:55 am
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15235

House not appraising for amount we were offered!

We put our house on the market on a Friday morning and by 8pm that night, we had an offer for 257k. Our asking price was 254.9k, so the offer was obviously a huge offer. Fast forward to last week and the appraisal came back 230k. We now have a dilemma because most banks only loan up to the appraisal...
by Yellowhouse
Sun Jul 14, 2019 10:16 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 2978

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

I accidentally dried 10 one ounce Maple Leafs in my dryer two years ago. We had gone to Florida for the winter and I hid 10 Maple Leafs in the dryer. Upon arriving home after two months, I completely forgot they were in there when doing the first load of laundry. I had them in a coin tube but the tu...
by Yellowhouse
Fri Jul 12, 2019 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to 401(k) and IRAs, SECURE Act - It's signed
Replies: 292
Views: 22611

Legislation known as Secure Act could impact inherited IRAs

[Thread merged into here, see below. --admin LadyGeek] As a person who inherited a TIRA and turned it into a Stretch IRA, I'm VERY concerned with this piece of legislation. If passed, the Stretch IRA would be no longer. The Stretch IRA has been a very popular method of retaining and growing wealth ...
by Yellowhouse
Fri Jul 12, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ira
Replies: 21
Views: 2034

Re: Inherited ira

I inherited my mom's TIRA and chose to do the Stretch IRA. I don't think you mentioned it in your choices, you should look into it. It allows the money to continue to grow tax free based on your life expectancy table.
by Yellowhouse
Wed Jul 10, 2019 8:17 am
Forum: Personal Consumer Issues
Topic: Pickup truck issue!!
Replies: 39
Views: 3433

Re: Pickup truck issue!!

I need to clarify something very important here....the truck is actually running very well. It's a weird situation, the mechanic drove it yesterday and made the comment of how well it's running. Also, it's a 2008 6.4 engine that has been deleted. The deletion was money well spent. Regarding selling,...
by Yellowhouse
Tue Jul 09, 2019 9:52 pm
Forum: Personal Consumer Issues
Topic: Pickup truck issue!!
Replies: 39
Views: 3433

Re: Pickup truck issue!!

My mechanic told me that his diagnostic tests kept telling him that my high pressure fuel pump is the problem. I've looked them up on line and the part alone is over 1k. I also investigated a bit on the internet and yes, it's absolutely recommended to take the cab off when doing this particular repa...
by Yellowhouse
Tue Jul 09, 2019 8:36 pm
Forum: Personal Consumer Issues
Topic: Pickup truck issue!!
Replies: 39
Views: 3433

Pickup truck issue!!

My 2008 Ford F350 diesel needs 3k-5k worth of work, I found this out today. It apparently will soon need a high pressure fuel pump. The job is quite intense, you have to take the cab off to properly do the repair. I'm really not sure what we should do because the vehicle is paid off. Last week, I wa...
by Yellowhouse
Wed Jun 19, 2019 12:21 pm
Forum: Personal Investments
Topic: Cashing out an inherited IRA or not?
Replies: 11
Views: 1234

Re: Cashing out an inherited IRA or not?

This is what I needed to hear!! I definitely won't consider cashing out the inherited IRA if taxes will chew up 45k of it! I think it's best if I secure a loan of some sort.
by Yellowhouse
Wed Jun 19, 2019 8:42 am
Forum: Personal Investments
Topic: Cashing out an inherited IRA or not?
Replies: 11
Views: 1234

Re: Cashing out an inherited IRA or not?

The plan is to build two or three buildings with my own money and see how quickly they fill up. If they fill up quickly, which is my expectation, I will then have this decision to make. The easiest way for me to understand it is to look at it from a 100k perspective. It costs me roughly 100k per bui...
by Yellowhouse
Wed Jun 19, 2019 8:39 am
Forum: Personal Investments
Topic: Cashing out an inherited IRA or not?
Replies: 11
Views: 1234

Re: Cashing out an inherited IRA or not?

The plan is to build two or three buildings with my own money and see how quickly they fill up. If they fill up quickly, which is my expectation, I will then have this decision to make. The easiest way for me to understand it is to look at it from a 100k perspective. It costs me roughly 100k per bui...
by Yellowhouse
Tue Jun 18, 2019 1:24 pm
Forum: Personal Investments
Topic: Cashing out an inherited IRA or not?
Replies: 11
Views: 1234

Cashing out an inherited IRA or not?

I recently purchased a small tract of land to build storage units on. This is a specialty area focusing on boat/RV/general recreational storage. My buildings will be built with this in mind. I have enough cash to build two or three of these buildings. They project to make 15-17% ROI if fully occupie...
by Yellowhouse
Sun Jun 16, 2019 8:23 am
Forum: Investing - Theory, News & General
Topic: Borrowing money to build a business
Replies: 2
Views: 453

Borrowing money to build a business

I have assets totaling roughly 750k-800k. I recently purchased prime acreage at an incredible price. I am going to build storage buildings on these 11 acres. The ROI is expected to be between 12-15%, pretty sporty in my book! I basically need around 500k to pull this off in a proper manner. Of the 5...
by Yellowhouse
Fri Jun 14, 2019 5:51 pm
Forum: Investing - Theory, News & General
Topic: How have your homes as investments done?
Replies: 212
Views: 24123

Re: How have your homes as investments done?

Bought my home for 101k in 2003 and put it on the market yesterday for 255k. It looks good but the real numbers tell a completely different story. I paid off the note in 2013 @ 90k. The ten years prior to paying it off, I was paying a $750/mo mortgage payment on it. I figure I've probably sunk 215k ...
by Yellowhouse
Wed Jun 05, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Failed land investments and what to do with it?
Replies: 139
Views: 10119

Re: Low ball offer to buy my useless land, take it or leave it?

How many acres is involved here? You say you've got 5 pieces of land, how big is each one? What is the elevation of these properties?
by Yellowhouse
Wed May 29, 2019 7:07 am
Forum: Personal Finance (Not Investing)
Topic: For Sale by Owner or RE Agent???
Replies: 40
Views: 2653

Re: For Sale by Owner or RE Agent???

Then in a nutshell, we need to get it on the MLS using a flat fee approach? I'm not sure of the 4% that my wife was quoted. Meaning I don't know if I'll have to pay her 4% and then turn around and pay the buyer's agent a separate 3%?

The MLS is the true RE scam....
by Yellowhouse
Tue May 28, 2019 9:56 pm
Forum: Personal Consumer Issues
Topic: No more print Money magazine
Replies: 109
Views: 16315

Re: No more print Money magazine

Sad to see it go. For 10 bucks subscription I’d flip through it and get some decent articles. I especially liked the stories about people’s personal finances. It’s nice to see people retiring on reasonable amounts and not asking if 70k spend on 4 mil is going to be ok :D Very good, particularly the...
by Yellowhouse
Tue May 28, 2019 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: For Sale by Owner or RE Agent???
Replies: 40
Views: 2653

Re: For Sale by Owner or RE Agent???

I don't like the sound of most of these deals. Seems to me, RE agents do fairly simple tasks and expect a fat paycheck!! This seems like a scam! I don't think I'm wrong...
by Yellowhouse
Tue May 28, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: For Sale by Owner or RE Agent???
Replies: 40
Views: 2653

Re: For Sale by Owner or RE Agent???

A local broker that I'm personal friends with quoted 4%. That does seem to be a low price, but 4% of 250k, it's still a considerable piece of money.

If she can broker a better price than I could simply because of the MLS exposure, I assume it would be worth hiring her.
by Yellowhouse
Tue May 28, 2019 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: For Sale by Owner or RE Agent???
Replies: 40
Views: 2653

For Sale by Owner or RE Agent???

Subject title says it all, should my wife and I hire a RE agent at 4%, or just sell it ourselves? A little info...we are in a hot market. I expect the house to have multiple people very interested just by putting it on Facebook. We are in the state of Indiana if that matters.
by Yellowhouse
Sun Apr 28, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: How to define wealth
Replies: 51
Views: 5232

Re: How to define wealth

We live in a capitalistic society and that means the rich get richer. That's why they control the country's wealth to such a large degree. The working people might very well make good salaries but those salaries largely go to paying debt. Working people typically have a 1k-2k mortgage, a $500/mo car...
by Yellowhouse
Fri Mar 29, 2019 4:28 pm
Forum: Personal Consumer Issues
Topic: Tattoos and Bogleheads
Replies: 180
Views: 10266

Re: Tattoos and Bogleheads

Tattoos have a negative effect on one's ability to land a job. Tattoos also make a person look rough, not an attractive overall look. Sleeves are hideous, neck tats are hideous...just a low class look.
by Yellowhouse
Sun Feb 10, 2019 10:13 am
Forum: Personal Consumer Issues
Topic: How many hours do you work and what do you outsource
Replies: 88
Views: 8173

Re: How many hours do you work and what do you outsource

Less than 20 hours per week when balanced out over a 52 week time frame. The most I work would be 30 hours because I seldom do 6+ hour days. I'm a painting contractor and working six hours with two very small breaks mixed in, is plenty of work in a 24 hour window given the physicality of some projec...
by Yellowhouse
Tue Jan 22, 2019 10:11 pm
Forum: Personal Consumer Issues
Topic: Recommendation for pickup truck?
Replies: 70
Views: 4070

Re: Recommendation for pickup truck?

Ford is 100% the best pickup truck in America. Chevy makes a nice truck, as does GMC, but there's a VERY GOOD reason why Ford is the best selling pickup out there. The stats don't lie... As far as Honda goes, they make a nice vehicle but let's be brutally honest, when buying a quality pickup, most m...
by Yellowhouse
Sun Jan 20, 2019 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 802
Views: 83226

Re: Why are your NOT buying rental properties?

I've got two rentals and I've put in exactly 0 hours doing anything to them in the last 24 months. One rental is valued at a little over 100k and rents for $900/mo, the other is worth 175k and rents for $1300/mo. I owe zilch on these properties and I'm very happy with their performances. I read man...
by Yellowhouse
Wed Jan 16, 2019 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 802
Views: 83226

Re: Why are your NOT buying rental properties?

Yellow house said he hasn’t had any problems in 24 months; not that he/she has been the owner for 24 months. Also, your 9.5% return appears to be calculated from present value. Likely YH paid less, plus you aren’t considering leverage. True, but if so that’s even more disingenuous. There are plenty...
by Yellowhouse
Wed Jan 16, 2019 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Why are you NOT buying rental properties?
Replies: 802
Views: 83226

Re: Why are your NOT buying rental properties?

I've got two rentals and I've put in exactly 0 hours doing anything to them in the last 24 months. One rental is valued at a little over 100k and rents for $900/mo, the other is worth 175k and rents for $1300/mo. I owe zilch on these properties and I'm very happy with their performances. I read many...
by Yellowhouse
Wed Jan 16, 2019 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Have I Now Become Out of Touch Financially? Aging question...
Replies: 90
Views: 11842

Re: Have I Now Become Out of Touch Financially? Aging question...

I think a better way to put it is that your area of the country is out of touch. 1500 square foot ranches in California that command 800k-1mil is out of touch with the rest of the country. I've owned a 1550 square foot ranch in Indiana that I paid 101k for in 2002, and could possibly sell it for 180...
by Yellowhouse
Wed Jan 16, 2019 5:33 pm
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 58721

Re: John Bogle is dead at 89

RIP Mr. Bogle...and thank you for making the world a better place.
by Yellowhouse
Sun Jan 13, 2019 9:13 pm
Forum: Personal Consumer Issues
Topic: Disciplined with finances, but not so with diet
Replies: 242
Views: 14712

Re: Disciplined with finances, but not so with diet

I'm extremely delighted to report a loss of 25 pounds in 38 days on the Keto diet. It is legit and I feel good!! I'm eating under 40g of carbs per day and that's the main nutritional factor i keep up with...it keeps things simple.
by Yellowhouse
Tue Jan 08, 2019 8:22 pm
Forum: Personal Investments
Topic: How do I buy gold?
Replies: 55
Views: 4607

Re: How do I buy gold?

Never buy Gold/Silver via paper contracts...take posession of PHYSICAL Gold, as in one ounce gold coins. Keep it in a high grade safe and tell NOBODY! Do the same with Silver. Buy it in one ounce bullion form and take immediate posession, store in high grade safe.