Search found 366 matches

by riverguy
Mon Aug 20, 2018 1:44 pm
Forum: Personal Consumer Issues
Topic: Sellers beware on eBay.
Replies: 42
Views: 3365

Re: Sellers beware on eBay.

Why even go through the effort to list, package and ship a book for $1? Donate it or throw it away. Huge waste of time.
by riverguy
Thu Aug 16, 2018 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited House Sale as Capital Loss
Replies: 27
Views: 1117

Re: Inherited House Sale as Capital Loss

How did you inherit a house through a will that didn’t go through probate? A will is not valid unless admitted to probate.
by riverguy
Wed Aug 15, 2018 10:59 am
Forum: Personal Consumer Issues
Topic: Travel over thanksgiving holiday, drive or fly?
Replies: 50
Views: 2215

Re: Travel over thanksgiving holiday, drive or fly?

It's threads like this that remind me why I bought my airplane. Yea those single engine small planes are just a beacon of safety. I feel safer flying in my single during the peak Thanksgiving travel days than being in interstate traffic. Also, If you do some research you might find that the data sh...
by riverguy
Wed Aug 15, 2018 8:18 am
Forum: Personal Consumer Issues
Topic: Travel over thanksgiving holiday, drive or fly?
Replies: 50
Views: 2215

Re: Travel over thanksgiving holiday, drive or fly?

neilpilot wrote:
Wed Aug 15, 2018 8:12 am
It's threads like this that remind me why I bought my airplane.
Yea those single engine small planes are just a beacon of safety.
by riverguy
Wed Aug 15, 2018 7:50 am
Forum: Personal Consumer Issues
Topic: Travel over thanksgiving holiday, drive or fly?
Replies: 50
Views: 2215

Re: Travel over thanksgiving holiday, drive or fly?

Find new relatives! :P who has a wedding on the Saturday after Thanksgiving???
by riverguy
Thu Aug 09, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: QUESTION ANSWERED - House I paid 157k in 2007 sold for 55k in 2018
Replies: 25
Views: 2645

Re: House I paid 157k in 2007 sold for 55k in 2018 - CPA saying I will owe capital gains tax

niceguy7376 wrote:
Thu Aug 09, 2018 3:08 pm
I am still interested to know which part of US this home is located.
No kidding. How is this possible?
by riverguy
Thu Aug 09, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Keep, sell or refinance
Replies: 20
Views: 1248

Re: Rental Property - Keep, sell or refinance

Seems like a terrible rental. Sell.
by riverguy
Thu Aug 09, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Quit Claim on inherited house?
Replies: 16
Views: 1575

Re: Quit Claim on inherited house?

Just tell the court you disclaim the interest in the house. Court can put that in the final order and you won't need a QCD.
by riverguy
Thu Aug 09, 2018 8:39 am
Forum: Personal Consumer Issues
Topic: Do Airlines measure checked baggages?
Replies: 33
Views: 2079

Re: Do Airlines measure checked baggages?

Most likely will fly under the radar unless it is grossly out of size, which you said it is not. Weight is the main concern. Easier to measure quickly than size and more of a safety issue for workers.
by riverguy
Wed Aug 08, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage question
Replies: 20
Views: 1783

Re: Mortgage question

I wrote out an amortization schedule for our high rate mortgage, to see how much effect we'd have putting infrequent large or frequent small extra principal payments. This made it clear that early payments were more powerful than waiting. DH had received a small ($10k) inheritance, which we stuck i...
by riverguy
Wed Aug 08, 2018 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Help to evaluate Job Offer
Replies: 27
Views: 1844

Re: Help to evaluate Job Offer

Seems like a big downgrade.
by riverguy
Wed Aug 08, 2018 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed on final house negotiations
Replies: 35
Views: 2049

Re: Advice needed on final house negotiations

We are 30% down, so theoretically it doesn't effect us in financing, but psychologically it does. We don't live in an area in which house prices keep rising forever, it is entirely possible we could "lose" money on this house if we make this deal. I know the market here well enough that our price w...
by riverguy
Wed Aug 08, 2018 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed on final house negotiations
Replies: 35
Views: 2049

Re: Advice needed on final house negotiations

I wouldn't be so sure that they would not get an appraisal for an extra $20k. Appraisals are a subjective joke anyways.

Why would you care if the agents lower their commission or if the seller takes the hit? That seemed to irk you.
by riverguy
Tue Aug 07, 2018 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: When are the taxes due on rental property sale
Replies: 14
Views: 921

Re: When are the taxes due on rental property sale

it seems like i should drop all my withholding allowances for the rest of the year from my current 6 withholdings.. it will get me closer, but I would still owe more than $1K, but it would be within my 90% tax liability. then 1 month into 2019 I could adjust them back accordingly. it sucks that i h...
by riverguy
Tue Aug 07, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Is solar power for your home a worthwhile investment?
Replies: 55
Views: 4675

Re: Is solar power for your home a worthwhile investment?

investingdad wrote:
Tue Aug 07, 2018 10:36 am
What about the benefit of having power in the event of a power failure? That requires a pricier system I believe?
Only if the sun is out or if you pay significantly more for batteries to store the power.
by riverguy
Sat Aug 04, 2018 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Is solar power for your home a worthwhile investment?
Replies: 55
Views: 4675

Re: Is solar power for your home a worthwhile investment?

It only makes sense if you have ridiculous electricity rates or amazing state/local subsidies. It should tell you something that an above poster pays 39 cents for winter electricity (only about 6x what I pay!) and still has a 4 year payout after the 30% fed subsidy! Solar is entirely dependent on su...
by riverguy
Mon Jul 30, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason a building should not consent to a condo buyer using a family mortgage?
Replies: 19
Views: 1648

Re: Any reason a building should not consent to a condo buyer using a family mortgage?

Could be used as a work-around for someone not in a financial position to buy the condo through a bank mortgage because of inadequate assets, income, or credit history. This sounds the most relevant to me. If someone can't qualify for a traditional bank mortgage, they also might not be able to pay ...
by riverguy
Wed Jul 25, 2018 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Buying house with cash
Replies: 12
Views: 1277

Re: Buying house with cash

Got 5mm at age 30. It’s 10% of your net worth, why is it even a question? You have to live somewhere.
by riverguy
Tue Jul 24, 2018 10:25 am
Forum: Personal Consumer Issues
Topic: Daughter wants to travel on her own to Montreal
Replies: 105
Views: 6791

Re: Daughter wants to travel on her own to Montreal

Pretty much everything is in French so she better have a plan for that. What would one do for 4-5 days in Montreal? Can think of plenty of better places, but to each his own Is the Jazz Festival or the Comedy Festival still on? Then I can't think of a better place*. * New York. Of course. Practical...
by riverguy
Tue Jul 24, 2018 7:45 am
Forum: Personal Consumer Issues
Topic: Daughter wants to travel on her own to Montreal
Replies: 105
Views: 6791

Re: Daughter wants to travel on her own to Montreal

Pretty much everything is in French so she better have a plan for that.

What would one do for 4-5 days in Montreal? Can think of plenty of better places, but to each his own
by riverguy
Mon Jul 23, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: Real estate partnership
Replies: 14
Views: 1017

Re: Real estate partnership

Only you and him can decide what’s fair. How on earth would strangers on the internet be able to tell you this?
by riverguy
Sun Jul 22, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: What have been your experiences in purchasing a plot of land to build a someday home?
Replies: 17
Views: 1884

Re: What have been your experiences in purchasing a plot of land to build a someday home?

Half acre for $1,000? You sure the lake is not a mirage and you are in the middle of the desert?
by riverguy
Thu Jul 19, 2018 8:26 am
Forum: Personal Consumer Issues
Topic: Europe travel Qs [Questions]
Replies: 63
Views: 3576

Re: Europe travel Qs

When you charge something, do NOT allow them to convert to dollars "for your convenience". Charge in the local currency. Let the card company (e.g., VISA/bank) do that at official rates, rather than unknown rates and also unknown fees. RM It’s actually the other way around. If you allow DCC, the ra...
by riverguy
Sun Jul 15, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should we sell our business?
Replies: 61
Views: 5188

Re: Should we sell our business?

Paying 7x cashflow for a small business would be pretty crazy.
by riverguy
Mon Jul 09, 2018 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Continue to Rent or Sell
Replies: 20
Views: 1631

Re: Rental Property - Continue to Rent or Sell

5% net returns on what amount? $120,000? Is that before or after depreciation? That's pretty dismal for a rental if it is before depreciation.
by riverguy
Tue Jun 19, 2018 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: Shorting Amazon
Replies: 44
Views: 4541

Re: Shorting Amazon

Even if you want to short amazon, you won't be able to borrow the shares from the typical brokerage firms like schwab, fidelity, etrade. [OT comment removed by moderator prudent] What are you talking about? One of the largest companies in the world that has been trading for decades is not going to ...
by riverguy
Tue Jun 19, 2018 5:55 am
Forum: Investing - Help with Personal Investments
Topic: Shorting Amazon
Replies: 44
Views: 4541

Re: Shorting Amazon

Market can stay irrational longer than you can stay solvent especially when you are talking the golden boy of the market. It doesnt matter if you are right it matters when you are right.

[OT comment removed by moderator prudent]
by riverguy
Mon Jun 18, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: [Flawed?] Paying off mortgage in 5 years
Replies: 39
Views: 3602

Re: Using HELOC to pay off mortgage in 7 years?

Makes no sense. You are actually probably paying more interest this way. Lack of understanding on how interest is calculated on a mortgage and why you pay a lot of interest in the early years.
by riverguy
Sat Jun 16, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: House that was in trust is actually in estate
Replies: 22
Views: 2337

Re: House that was in trust is actually in estate

Another update. Our lawyer has not contacted the title office. The title office in Florida offered to refer me to someone who can do the probate in Florida. I went back through emails to see where things went awry. The appraisal of the home from last March was written in the name of her estate. Whe...
by riverguy
Tue Jun 12, 2018 5:38 pm
Forum: Personal Consumer Issues
Topic: Anyone with a paid off house drop homeowners insurance
Replies: 79
Views: 6061

Re: Anyone with a paid off house drop homeowners insurance

Who would even consider this? $700/yr is incredibly cheap to insure that house.
by riverguy
Tue Jun 12, 2018 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: House that was in trust is actually in estate
Replies: 22
Views: 2337

Re: House that was in trust is actually in estate

First of all why would you not check title on everything before going through probate? So easy to check on surface real property on county assessor sites. Don’t know FL laws but some states you would be able to just file will, order admitting to probate and the final order and that would be sufficie...
by riverguy
Mon Jun 11, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payment with interest free credit card
Replies: 10
Views: 893

Re: Mortgage payment with interest free credit card

Wow a lot of work for just a 1% return... 4. Funnel extra income into 1.6% interest rate savings account until I have to pay for balance. Just funnel extra income towards the principal and get a 5% return on that money. Essentially you are talking about manufacturing spending, it has its risks. The...
by riverguy
Sun Jun 10, 2018 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Title company asking for another warranty deed?
Replies: 12
Views: 1136

Re: Title company asking for another warranty deed?

Some of you are crazy talking about getting a lawyer for this. Why would you not go sign another deed and send it to them? If the grantee is the same person you sold the house to there is literal zero downside to doing this. Unless of course you want to make the lawyers rich.
by riverguy
Thu Jun 07, 2018 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Adding my name to deed (parents house)
Replies: 22
Views: 1666

Re: Adding my name to deed (parents house)

Could be true - but seems odd that family members could not occupy the parents' house. Perhaps check with some sort of "expert" on interpreting the rules (maybe an attorney)? I would tend to agree with this until OP said that he will take on all expenses for the house. He is essentially paying for ...
by riverguy
Thu Jun 07, 2018 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Adding my name to deed (parents house)
Replies: 22
Views: 1666

Re: Adding my name to deed (parents house)

My parents currently have 2 homes. Grandma currently lives in house #1 and they live in house #2. They will be moving back to house #1 soon because grandma will be requiring some at home care. I have been living in house #2 with them up until about a month ago when I got married. My wife and I will...
by riverguy
Wed May 16, 2018 4:28 am
Forum: Personal Finance (Not Investing)
Topic: Tax calculation with Rental and W2 income over 150k
Replies: 13
Views: 950

Re: Tax calculation with Rental and W2 income over 150k

- $3k/month rental income - $3k/month rental expenses (mortgage, insurance, taxes, rental manager fee) Income on this rental property is the rent that you receive Expense - only the interest part of the mortgage loan, property depreciation amount for that year, insurance, property taxes, any HOA fe...
by riverguy
Sat Apr 21, 2018 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Tax / Debt Strategy on Rental Income from Investment Properties
Replies: 3
Views: 384

Re: Tax / Debt Strategy on Rental Income from Investment Properties

Yes they net. Seems crazy that someone with $2.5m of specially acquired debt would not know this?
by riverguy
Fri Apr 20, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Guaranty appraisal on real estate. Good idea? This must be a bubble?
Replies: 21
Views: 1546

Re: Guaranty appraisal on real estate. Good idea? This must be a bubble?

Appraisals are a joke anyways. What percentage of houses that never appraise? I would bet it is super low and only if the purchase price is wayyyyyy out of whack. Banks have a vested interest in having the property appraise. They could care less if it is right or not. As long as the loans conform, t...
by riverguy
Mon Apr 16, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Dog walker - Last Minute Schedule C Panic
Replies: 9
Views: 1039

Re: Dog walker - Last Minute Schedule C Panic

Your reasons for doing accrual accounting seem misguided. Cash is going to be way easier to keep track of. Who cares if you have that income show up as 2018 income and your expenses are in 2017? It's all going to average out.
by riverguy
Thu Apr 12, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff questions
Replies: 12
Views: 2481

Re: Mortgage payoff questions

When i requested a payoff amount - it was principal plus a sizeable interest and also valid till the end of the month. Instead of paying off that quoted amount, I paid off most of the principal and left only one dollar of principal. I requested the payoff amount again. All of a sudden all the inter...
by riverguy
Sun Apr 08, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Hold or sell rental property? Better for taxes to sell during retirement?
Replies: 10
Views: 900

Re: Hold or sell rental property? Better for taxes to sell during retirement?

How long has she owned it? Depreciation recapture should be factored in. What does this mean? She's owned it at least.. 35 or 40 years. She used to pay an accountant hundreds a year to do taxes. I have used TurboTax for the last 4 years. You have to pay back all of the tax deferred depreciation you...
by riverguy
Sun Apr 08, 2018 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Hold or sell rental property? Better for taxes to sell during retirement?
Replies: 10
Views: 900

Re: Hold or sell rental property? Better for taxes to sell during retirement?

How long has she owned it? Depreciation recapture should be factored in.
by riverguy
Sat Apr 07, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Any advice for 1st time landlord
Replies: 42
Views: 3695

Re: Any advice for 1st time landlord

I am so on the fence about renting a property we own that is now vacant. We will either need to sell or rent the property. We could do "long" term vacation rentals (3-6 months), but will then have the added cost of providing nice furnishings. A recent tick mark in the sell column is that our umbrel...
by riverguy
Tue Apr 03, 2018 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 11657

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

Sounds great living with Dad and eating on $250 a mo for three adults along with having two strangers in the house probably most of the time. Oh and taking the bus everywhere.
by riverguy
Sun Apr 01, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Coughing up Signing (sign-on) bonus and W2
Replies: 9
Views: 1668

Re: Coughing up Signing (sign-on) bonus and W2

Why would you want it on 2018? Tax rates are lower in 2018.
by riverguy
Sun Apr 01, 2018 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 1141

Re: Investing in syndicated real estate deals

if I were to bring in partners, it would be for one and only one reason -- to put more money in my own pocket. Sage advice. Regarding any "opportunity" I ask: If the investment is so great why do you need my money? You can say the same thing about any investment including publicly traded equities. ...
by riverguy
Thu Mar 29, 2018 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Printing out a ten thousand page form 8949 for the IRS?
Replies: 48
Views: 5365

Re: Printing out a ten thousand page form 8949 for the IRS?

Everyone skeptical about you making profits because its not Vanguard ETFs LOL
by riverguy
Sat Mar 24, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 7590

Re: How does it make sense to buy a condo/house in Texas?

Do you really think renters don’t end up paying property tax?