Search found 266 matches

by mchampse
Mon Nov 04, 2019 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: How far can/should I go leveraging on rental properties?
Replies: 21
Views: 1773

Re: How far can/should I go leveraging on rental properties?

The next property that you find that you wish to invest in, run the numbers assuming a mortgage rate of 7% or 6%. If the numbers don't work, then it would make sense to pay down your high interest debts before investing further. The other thing that I would look to do is buy a larger apartment build...
by mchampse
Tue Oct 15, 2019 5:57 pm
Forum: Personal Consumer Issues
Topic: Solar Installation - 0.75 Year Later
Replies: 72
Views: 9901

Re: Solar Installation - 0.75 Year Later

We live in the Bay Area and signed a contract for a solar system several months ago. They aren’t certain that they can do the installation before the end of the year. Presumably some combination of the federal credit getting lowered and the blackouts has caused demand to spike. What company is dela...
by mchampse
Fri Oct 11, 2019 4:16 pm
Forum: Investing - Theory, News & General
Topic: Rollover IRA and SEP into an individual 401k?
Replies: 5
Views: 249

Re: Rollover IRA and SEP into an individual 401k?

niceguy7376 wrote:
Fri Oct 11, 2019 4:06 pm
Where did you open your Solo 401k?
Vanguard
by mchampse
Fri Oct 11, 2019 4:02 pm
Forum: Investing - Theory, News & General
Topic: Rollover IRA and SEP into an individual 401k?
Replies: 5
Views: 249

Rollover IRA and SEP into an individual 401k?

I used to have a traditional job and now work for myself. I have a rollover IRA as well as a SEP IRA at Vanguard. I opened an individual 401k thinking that I could roll both into it which would ultimately allow me to do a backdoor Roth. However, I’ve now opened the individual 401k account and have b...
by mchampse
Wed Oct 09, 2019 6:18 pm
Forum: Personal Consumer Issues
Topic: iPhone question - purchase
Replies: 13
Views: 1534

Re: iPhone question - purchase

The phones available from Apple come factory unlocked. They also have radios for all possible frequencies/technologies that the phone might use on any US-based carrier. The one from CC might be a version that omits some of those frequencies/technologies which could make it harder to switch carriers....
by mchampse
Wed Oct 09, 2019 6:13 pm
Forum: Personal Consumer Issues
Topic: Solar Installation - 0.75 Year Later
Replies: 72
Views: 9901

Re: Solar Installation - 0.75 Year Later

We live in the Bay Area and signed a contract for a solar system several months ago. They aren’t certain that they can do the installation before the end of the year. Presumably some combination of the federal credit getting lowered and the blackouts has caused demand to spike. We went with a batter...
by mchampse
Wed Oct 02, 2019 11:33 am
Forum: Investing - Theory, News & General
Topic: VFIAX short term trading fee?
Replies: 3
Views: 599

Re: VFIAX short term trading fee?

Resolution: There was no fee, though in certain instances as noted above Vanguard won’t let you buy more of a particular fund.
by mchampse
Tue Oct 01, 2019 2:32 pm
Forum: Personal Consumer Issues
Topic: Apple iPhone iOS 13 Discussion
Replies: 77
Views: 8731

Re: Apple iPhone iOS 13 Discussion

Some lesser features that are worth getting set up: 1. Silence unknown caller is my favorite new feature. If you don't have a contact for the number, it goes straight to voicemail. I looked at this and thought about it. But what happens when I order an Uber and the driver wants to contact me? So I ...
by mchampse
Mon Sep 30, 2019 5:56 pm
Forum: Investing - Theory, News & General
Topic: VFIAX short term trading fee?
Replies: 3
Views: 599

VFIAX short term trading fee?

I’m seeing conflicting things online so I thought that I would ask.... I’ve decided to change my asset allocation. In implementing that plan, I realized that I accidentally put more into S&P 500 (VFIAX) than I had intended to and put less in international than I had intended. If I know transfer some...
by mchampse
Fri Sep 27, 2019 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Convince me not to raid my Roth to buy first condo
Replies: 46
Views: 3366

Re: Convince me not to raid my Roth to buy first condo

What’s the price range of housing that you are looking for? What would approximate payments be?
by mchampse
Mon Sep 23, 2019 9:43 pm
Forum: Personal Consumer Issues
Topic: Apple iPhone iOS 13 Discussion
Replies: 77
Views: 8731

Re: Apple iPhone iOS 13 Discussion

Some lesser features that are worth getting set up: 1. Silence unknown caller is my favorite new feature. If you don't have a contact for the number, it goes straight to voicemail. 2. I think the link preview in Safari and other applications is a nice usability feature. 3, Improved day/night mode i...
by mchampse
Tue Sep 03, 2019 6:14 am
Forum: Personal Finance (Not Investing)
Topic: Extended Car Warranty
Replies: 24
Views: 1669

Re: Extended Car Warranty

With any kind of insurance, the seller of the plan believes that they will make money suggesting that the average repair bill per car will be less than $4400.
by mchampse
Fri Aug 23, 2019 3:51 am
Forum: Personal Finance (Not Investing)
Topic: Giving 2 weeks notice with a non-compete
Replies: 14
Views: 2304

Re: Giving 2 weeks notice with a non-compete

You may want to do some research to see what the legal status of non-compete agreements is in your state. Many employers ask employees to do, or not do, certain things that might be prohibited by state law. Many times employees comply with these requests thinking the employer must know what they're...
by mchampse
Mon Aug 19, 2019 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Moving from Bay area, CA to Knoxville, TN
Replies: 98
Views: 7458

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

I lived in Knoxville, TN about 20 years ago right before moving to San Francisco. Some thoughts: -Financially Knoxville is much cheaper but that said if you already have a home in the Bay Area, the difference is probably less. -The weather is much more extreme in both directions. It’s hot and humid ...
by mchampse
Fri Aug 16, 2019 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Need Creative Solutions for Billing Expenses to Renter
Replies: 27
Views: 2464

Re: Need Creative Solutions for Billing Expenses to Renter

We’ve been sharing the cost of certain utilities (water, garbage, internet) with renters for years without issue. Gas and electric are separately metered. I think you are overthinking it.
by mchampse
Thu Aug 15, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: $34 per year to reduce auto deductible by $500
Replies: 31
Views: 2523

Re: $34 per year to reduce auto deductible by $500

The insurance company believes that by charging that extra $17 to you and everyone else who takes them up on that offer, that they will make money. You could say that about any premium/deductible. Which is why you should get the least amount of insurance that you need. Coverage should only be for s...
by mchampse
Wed Aug 14, 2019 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: $34 per year to reduce auto deductible by $500
Replies: 31
Views: 2523

Re: $34 per year to reduce auto deductible by $500

The insurance company believes that by charging that extra $17 to you and everyone else who takes them up on that offer, that they will make money.
by mchampse
Wed Aug 14, 2019 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Rent vs. Buy - Running the numbers, what am I missing?
Replies: 55
Views: 4238

Re: Rent vs. Buy - Running the numbers, what am I missing?

Also to consider: -Possibility of saving on taxes by itemizing. Not as much of a factor with the new tax law but depends on your situation. -Appreciation including leverage. The house will appreciate, but your cost basis is your down payment, not the full value of the house. If you put $40k down on ...
by mchampse
Mon Aug 12, 2019 9:45 pm
Forum: Personal Investments
Topic: Update (Single large position in a single stock - Redfin)
Replies: 4
Views: 779

Re: Update (Single large position in a single stock - Redfin)

Everyone knew that social media would be huge. However, the investors in Friendster, MySpace, etc. didn’t reap the rewards. The current market cap of Redfin is 1.6B and you have about half million in the stock. How high do you think the market cap will go? 10x? 20x? 50x? If it goes up 50x, you’ll ha...
by mchampse
Tue Aug 06, 2019 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Receiving inheritance from Canadian parents
Replies: 1
Views: 259

Re: Receiving inheritance from Canadian parents

I’m in a similar situation. Gift and estate taxes in the US are paid by the giver, not the receiver. In this case, the giver isn’t an American. So you receive everything tax free. You do have to fill out 3520, however you wouldn’t fill out 709 even if you were a US citizen. That’s only filled out by...
by mchampse
Thu Aug 01, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, buying FSBO from landlord without agent-where to start?
Replies: 11
Views: 1015

Re: First time home buyer, buying FSBO from landlord without agent-where to start?

1. There is no standard measurement of property value beyond what is the lowest price the seller will take and what is the highest price that a buyer is willing to pay based on appraised value, market value, curb value, sales history, area sales history, and demand. An appraisal is about a close as...
by mchampse
Thu Aug 01, 2019 10:33 am
Forum: Personal Finance (Not Investing)
Topic: First time home buyer, buying FSBO from landlord without agent-where to start?
Replies: 11
Views: 1015

Re: First time home buyer, buying FSBO from landlord without agent-where to start?

I did a FSBO once where we got an agent that both parties trusted. He came up with a fair price and took care of all the paperwork. We negotiated either 2 or 2.5% commission which both parties split in paying.
by mchampse
Tue Jul 30, 2019 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Complex inheritance situation
Replies: 21
Views: 1129

Re: Complex inheritance situation

The safety deposit box belongs to her estate and only the executor should have access to the safety deposit box.
by mchampse
Mon Jul 29, 2019 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house anonymously (Florida)
Replies: 30
Views: 2779

Re: Buying a house anonymously (Florida)

A couple of questions: 1)Do you just want your neighbor to not know that you are the one making the offer or do you want them to never know that you own it? 2)What do you plan to do with the property? Rent it out? Live in it either by combining the two lots or selling/renting your current home? If y...
by mchampse
Mon Jul 29, 2019 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficence
Replies: 37
Views: 2839

Re: Requesting real-estate advice--first-time homebuyer in a peculiar quandary thanks, ironically, to father's beneficen

Let me ask you this...if you fall behind in your payments for whatever reason, will your dad foreclose on you? If yes, then it’s a loan and you should get the paperwork to back it up. If not, it’s a gift that you intend to repay but aren’t obliged to no matter what your intentions may be.
by mchampse
Sat Jul 27, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can I do a 1031 exchange? Want to rent to family member below market rent
Replies: 4
Views: 411

Re: Can I do a 1031 exchange? Want to rent to family member below market rent

A 1031 isn’t good for this situation. 1) it’s only $8,000 of gains. Maybe $1,000 of taxes? If you did a full exchange which you’re not. 2) Your replacement property is only 1/3 the original. So you can only defer 1/3 the gains. You could buy a few rentals to get up to $245,000 but that’s a whole lo...
by mchampse
Sat Jul 27, 2019 12:52 pm
Forum: Personal Investments
Topic: How much life insurance should I get? (baby on the way)
Replies: 44
Views: 2694

Re: How much life insurance should I get? (baby on the way)

I would recommend a 5 or 10 year renewable term rather than 20 or 30 years. I bought annual renewable term, and wish I had bought 25 or 30 year level term, just as White Coat Investor recommends . Given inflation, and increased income and commitments over time, which with any luck at all will outpa...
by mchampse
Fri Jul 26, 2019 5:03 pm
Forum: Personal Investments
Topic: How much life insurance should I get? (baby on the way)
Replies: 44
Views: 2694

Re: How much life insurance should I get? (baby on the way)

I would recommend a 5 or 10 year renewable term rather than 20 or 30 years. A longer term policy means that you are giving the insurance company now to save yourself money later. Which is backwards because your income is lower now then it will be in the future. You could also invest the difference i...
by mchampse
Fri Jul 26, 2019 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Commercial Real Estate knowledge and/or experience? Help!!
Replies: 25
Views: 1588

Re: Commercial Real Estate knowledge and/or experience? Help!!

You are getting a lot of conflicting information and it probably makes sense to talk to a bank to get the straight goods. That said, after the liar loan debacle banks want to make sure you can make the payments. They don’t want to re-possess. If you own a $1M home free and clear and have no income, ...
by mchampse
Thu Jul 25, 2019 2:52 pm
Forum: Investing - Theory, News & General
Topic: Donor-advised fund versus direct stock donation
Replies: 41
Views: 2035

Re: Donor-advised fund versus direct stock donation

if you make a $50K donation and then distribute $10K every year for five years. I realize this is just a hypothetical, buy why not donate all $50k from the DAF in one year instead of $10k over five years? This would seem to save fees and be less of a "jerk move*" . *WCI shoutout +1 I can see an arg...
by mchampse
Thu Jul 25, 2019 2:51 pm
Forum: Investing - Theory, News & General
Topic: Donor-advised fund versus direct stock donation
Replies: 41
Views: 2035

Re: Donor-advised fund versus direct stock donation

if you make a $50K donation and then distribute $10K every year for five years. I realize this is just a hypothetical, buy why not donate all $50k from the DAF in one year instead of $10k over five years? This would seem to save fees and be less of a "jerk move*" . *WCI shoutout +1 I can see an arg...
by mchampse
Thu Jul 25, 2019 11:21 am
Forum: Investing - Theory, News & General
Topic: Donor-advised fund versus direct stock donation
Replies: 41
Views: 2035

Re: Donor-advised fund versus direct stock donation

if you make a $50K donation and then distribute $10K every year for five years. I realize this is just a hypothetical, buy why not donate all $50k from the DAF in one year instead of $10k over five years? This would seem to save fees and be less of a "jerk move*" . *WCI shoutout +1 I can see an arg...
by mchampse
Thu Jul 25, 2019 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Update with Part 2: What would it take for you, the non-landlord, passive-investor, to become a landlord?
Replies: 57
Views: 4563

Re: What would it take for you, the non-landlord, passive-investor, to become a landlord?

A SFH of that value makes for a very poor rental unit. Better to sell. This apartment building is currently for sale in Santa Barbara. It is in a nice area. Good clientele. It is selling for "asking" $2,995,000 The per door price is a bit high but not sure of rent income as have not seen the financ...
by mchampse
Thu Jul 25, 2019 1:44 am
Forum: Personal Finance (Not Investing)
Topic: Update with Part 2: What would it take for you, the non-landlord, passive-investor, to become a landlord?
Replies: 57
Views: 4563

Re: What would it take for you, the non-landlord, passive-investor, to become a landlord?

In terms of whether you should sell or not: Find out what you could rent it for and then subtract property tax, insurance, etc. to get potential profit. Could your parents live off of the profit from the rents as well as income from their other savings? If not, stocks and bonds will likely give you ...
by mchampse
Wed Jul 24, 2019 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Update with Part 2: What would it take for you, the non-landlord, passive-investor, to become a landlord?
Replies: 57
Views: 4563

Re: What would it take for you, the non-landlord, passive-investor, to become a landlord?

First off, being a landlord isn’t as hard as you may think and if you choose to keep the home, I would self manage. I’m currently renting out a place that I used to live in as well as other property that we bought as rentals. There’s no voodoo to being a landlord. Most months the work consists of de...
by mchampse
Mon Jul 22, 2019 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6606

Re: Buying a house - bay area

Let me add...I've been in the Bay Area for 20 years and I think just about every year that I've been here, people have been predicting a housing crash. There was a short period where housing prices did go down, but even then there were predictions that we hadn't hit bottom yet all the way until pri...
by mchampse
Mon Jul 22, 2019 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6606

Re: Buying a house - bay area

Some things to consider: 1)I would look for housing costs where you could barely get by on one salary. That way, if one of you does lose their job, you can still stay afloat and you would hopefully not be in a place where both of you are unemployed for an extended period of time so your savings wou...
by mchampse
Mon Jul 22, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6606

Re: Buying a house - bay area

Let me add...I've been in the Bay Area for 20 years and I think just about every year that I've been here, people have been predicting a housing crash. There was a short period where housing prices did go down, but even then there were predictions that we hadn't hit bottom yet all the way until pric...
by mchampse
Mon Jul 22, 2019 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house - bay area
Replies: 102
Views: 6606

Re: Buying a house - bay area

Some things to consider: 1)I would look for housing costs where you could barely get by on one salary. That way, if one of you does lose their job, you can still stay afloat and you would hopefully not be in a place where both of you are unemployed for an extended period of time so your savings woul...
by mchampse
Mon Jul 22, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Donate land for a tax break?
Replies: 12
Views: 795

Re: Donate land for a tax break?

You would have to talk to your accountant to see what kind of tax break you would get or alternatively, if you used an online program like TurboTax, go in and run the scenario of having $x charitable deduction. As noted, you would have to get a non-profit willing to take the land from you. If an app...
by mchampse
Mon Jul 22, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Is solar power for your home a worthwhile investment?
Replies: 145
Views: 14389

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

We live in California and have recently signed a contract for solar and are waiting for their crews to come out. We also got a battery. We had been thinking about it for a while but pulled the trigger for the sake of resiliency. PG&E (our local utility) has said that they may shut power down to sect...
by mchampse
Fri Jul 19, 2019 5:24 pm
Forum: Personal Investments
Topic: 100% Stock in ROTH
Replies: 8
Views: 1111

Re: 100% Stock in ROTH

Decide on an allocation and start with putting your equity allocation in your Roth. If your allocation of equities is greater than the %age of your portfolio that it represents, then put equities into your taxable followed by traditional IRA/401k. For instance: Assets: Roth $40k Taxable $30k IRA $30...
by mchampse
Wed Jul 17, 2019 3:35 am
Forum: Personal Finance (Not Investing)
Topic: Risks of buying a Bay Area home with 4-year time horizon?
Replies: 26
Views: 2463

Re: Risks of buying a Bay Area home with 4-year time horizon?

It may make sense for you to consider buying and then renting out after you move.
by mchampse
Mon Jul 15, 2019 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to bring this money to the USA?
Replies: 10
Views: 1565

Re: How to bring this money to the USA?

So your friend will likely have to consider it a gift and pay taxes on the money as income. The only thing that can be done to control the tax liability is to take out a small amount each year - perhaps allowing him to stay in a lower tax bracket. Gift taxes are paid by the person giving the gift a...
by mchampse
Mon Jul 15, 2019 4:29 pm
Forum: Personal Investments
Topic: Poor financial advisor performance
Replies: 71
Views: 4414

Re: Poor financial advisor performance

Go back to doing it yourself. You can tell your current advisor until you are blue in the face that you are dissatisfied and that isn’t going to raise the performance of your funds. Your going to have the same issue with any other advisor unless they recommend index funds.
by mchampse
Sun Jul 14, 2019 10:54 am
Forum: Personal Investments
Topic: Canada as an EM substitute
Replies: 11
Views: 1019

Re: Canada as an EM substitute

The Canadian market is 1/3 financial services, 1/3 natural resources and 1/3 other stuff. Buying a Canadian market fund resembles 2 sector funds plus a miscellaneous grab bag of stocks (plus some currency risk thrown in) more than emerging markets or anything else.
by mchampse
Sat Jul 13, 2019 7:40 pm
Forum: Personal Investments
Topic: Am I holding too much cash?
Replies: 30
Views: 4193

Re: Am I holding too much cash?

+1 on being able to sleep at night That said, remember that your taxable investments are liquid. You can cash them in at anytime. An emergency fund is there to make sure you don’t end up having to cash them in at an inopportune time. All of the things you mention are certainly possible, but it’s not...
by mchampse
Sat Jul 13, 2019 5:57 pm
Forum: Personal Consumer Issues
Topic: WaPo: "Mobile Passport" is the best-kept secret in air travel
Replies: 47
Views: 8503

Re: WaPo: "Mobile Passport" is the best-kept secret in air travel

If you live near the Canadian border to travel to Canada often, you can get Nexus. Nexus gives you the benefits of Global Entry and Pre as well as the equivalent programs in Canada. And it costs half of what GE costs. The only issue is that once approved, you can only go to certain enrollment center...
by mchampse
Fri Jul 12, 2019 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Is any type of marriage counseling partially covered by Health insurance?
Replies: 21
Views: 1893

Re: Is any type of marriage counseling partially covered by Health insurance?

Therapy is covered, though it depends on the DSM code that the therapist applies to your invoice. You can probably work with your therapist to see if they can use a code that is accepted by insurance. We did get couples counseling covered several years ago.