Search found 729 matches

by Mrxyz
Tue Nov 10, 2020 9:53 pm
Forum: Personal Investments
Topic: (Hopefully) Quick question : Really just three funds? Reallocate everything?
Replies: 57
Views: 4065

Re: (Hopefully) Quick question : Really just three funds? Reallocate everything?

Yes.
I was you many moons ago, and now its boringly simple and easy and stress free.................
Just do it.......and stop fiddling with asset allocations...........keep it simple .....
by Mrxyz
Fri Nov 06, 2020 10:56 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

I already answered this. First, are you sure the rental Schedule E entries will "show" a profit after depreciation if he pays rent. It doesn't matter if you actually have a positive cash flow. What matters is do you have a taxable "profit" after all revenue, expenses and depreci...
by Mrxyz
Fri Nov 06, 2020 12:34 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but a...
by Mrxyz
Thu Nov 05, 2020 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

So no responses to the home insurance costs?

Update -
I am buying the house for $214k cash. Will be charging $450 per month to tenants who will pay for utilities. House inspection was fine - needs around $1400 repairs which can be done without much problem before everyone moves in.
Thanks
by Mrxyz
Mon Nov 02, 2020 10:50 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Home insurance quote is; Coverage Limit Premium Dwelling 215,000 1011 extra dwelling 43,000 10 Personal property 10,750 Business liability(each occurrence) 5M 81 Business liability(annual aggregate) 10M Loss of rents 1000 Plan rating 99 Total $1181 Any thoughts?
by Mrxyz
Mon Nov 02, 2020 9:16 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

My parents did this, it all went fine for the 4 yrs of schooling. The one thing I think you missed: Then the market crashed, house value went way down (decades ago). No quick cash like they must have hoped. On the positive, they held onto it long long term, and it is now doing great on appreciation...
by Mrxyz
Sun Nov 01, 2020 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility. Yes, he will be the property manager. I plan to have 'surprise'...
by Mrxyz
Sat Oct 31, 2020 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Be certain to put language in your lease regarding pets. If you allow pets stipulate type and size and breed(s). I would also have a large deposit and extra monthly fee if allowed. Stipulate a total number of pets allowed in the dwelling as well. Pets in the hands of college students are often dest...
by Mrxyz
Sat Oct 31, 2020 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

I suggest seeing an attorney. Why? First, you don't want to be faced with a discrimination suit if one of the kids leaves school but wants to remain. Or if they have a child and want to have the child there. In some states, evictions are easy, in others difficult. If a friend of your child wants to...
by Mrxyz
Sat Oct 31, 2020 10:15 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but a...
by Mrxyz
Sat Oct 31, 2020 10:13 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

I have not read through all responses so perhaps this is a repeat question. Is it possible for your kid to play the property manager part? This would be an excellent learning opportunity for him/her while taking on some responsibility. Yes, he will be the property manager. I plan to have 'surprise'...
by Mrxyz
Sat Oct 31, 2020 1:08 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Question regarding my kid in the rental house; Does he pay rent or not? because he has 529 money he can spend for college expense - say the rent is $400/month, then he pays rent to the LLC owned by me. That money gets taxed at my tax rate ( around 30%). So in short, I am getting my money back but af...
by Mrxyz
Sat Oct 31, 2020 12:35 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

phxjcc wrote: Fri Oct 30, 2020 11:32 pm
denovo wrote: Fri Oct 30, 2020 7:32 am
phxjcc wrote: Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]
This is not a short-term rental.
Sigh.
It is a multi line agency.
Thanks I will contact them on Monday.
by Mrxyz
Fri Oct 30, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's ...
by Mrxyz
Fri Oct 30, 2020 11:59 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Utilities will be paid by the 3 tenants (the 4th is my kid who does not pay). There are 5 bedrooms but we at present, are not sure of the last tenant. I think the utilities should be divided by the total number of roomates (including your child). It also would be a good idea for your child to pay t...
by Mrxyz
Fri Oct 30, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's ...
by Mrxyz
Thu Oct 29, 2020 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

phxjcc wrote: Thu Oct 29, 2020 11:15 pm For insurance call these guys:

https://www.proper.insure/

[link formatted by admin LadyGeek]
I will.
So I have never heard of this company.
Do I buy home owner's insurance and umbrella insurance from them OR is it only for business insurance OR am I confused?
Thanks
by Mrxyz
Thu Oct 29, 2020 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Question -
Does anyone know how much umbrella insurance is needed ?
Thanks
by Mrxyz
Thu Oct 29, 2020 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Hi all, Family is 2 streets down - which is great! Do not know about WHATIF - yes I use turbo tax. I did not know about depreciation and recapture.........need to read..... Insurance - Will get home insurance and umbrella separate from my personal insurances which already has 5M umbrella. Renter's i...
by Mrxyz
Thu Oct 29, 2020 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

you are under contract, right? does this mean the kids would move in next month? is your kid is leaving the dorms mid-year and if so, are you sure you can get out of the dorm contract or will you be stuck paying double? if the latter, are you sure that all the planned roommates will move in right a...
by Mrxyz
Thu Oct 29, 2020 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

UPDATE- Hi all, So I am going ahead with this plan. Home is an older home built in 1950s, Cost $215K, 5 bedroom 2800 sq.ft. The house has no issues I can identify except one garage window which is loose but I can fix it in 15 minutes. Inspection - is pending and that can uncover more stuff. I am get...
by Mrxyz
Mon Oct 19, 2020 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

Wow, excellent response guys and gals! So, where do I start? No, I do not wish to save a lot of money or make a lot of money off this deal. The dorm is NOT comfortable or fun to stay. Small, crowded etc. Esp. with COVID not getting better x months, a house with more space, ventilation, same group of...
by Mrxyz
Sun Oct 18, 2020 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

Re: 2nd house, for Univ. kids/students

OP here. Thanks for all your feedback. Here are some clarifications. Yes, one of the 4 kids is mine. 3 years because - he is currently in college as freshman. I am NOT using this process a way to make money. I am fine if I am even or slightly lower. The money involved is <5% NW. BTW, one kid pays ar...
by Mrxyz
Sun Oct 18, 2020 1:08 am
Forum: Personal Finance (Not Investing)
Topic: 2nd house, for Univ. kids/students
Replies: 85
Views: 6499

2nd house, for Univ. kids/students

Hi I am planning to buy a small house for 4 Univ. students for the next 3 years or so. I want to run some numbers by you and want some recommendations and suggestions; 200k house, I plan to buy it cash. The property tax is around 2k/year. The 4 kids are to pay $400/month plus utilities which will be...
by Mrxyz
Thu Oct 15, 2020 11:29 am
Forum: Personal Investments
Topic: Too cash heavy, but do not know how to begin - please help :)
Replies: 35
Views: 4913

Re: Too cash heavy, but do not know how to begin - please help :)

Change mortgage to 15 year if it is 30 year at present.
You are getting 3% return by paying off mortgage which is pretty good.
by Mrxyz
Mon Oct 12, 2020 10:21 am
Forum: Personal Finance (Not Investing)
Topic: What is the maximum amount I should spend on financial gambling?
Replies: 35
Views: 2212

Re: What is the maximum amount I should spend on financial gambling?

I have always had an interest in financial gambling (i.e. gambling using the financial markets, instead of casinos or racetracks). I day trade futures, holding positions for at most 20 seconds. I treat it as exciting entertainment. Is there a general guideline on the maximum percentage of my dispos...
by Mrxyz
Fri Oct 02, 2020 8:37 pm
Forum: Personal Investments
Topic: how much to invest in commercial real estate
Replies: 15
Views: 1362

Re: how much to invest in commercial real estate

I am no expert in investing in commercial real estate but wonder if I can suggest you looking at the "need" and "ability" to take the risk.......even if you do not invest this money in real estate, you and your family are well set........Just a suggestion.
Thanks
by Mrxyz
Mon Sep 28, 2020 12:59 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1843
Views: 235763

Re: Two comma club :)

Congratulations!

Thanks for sharing your story..........it is very inspiring with lot of wise words/advice!!
by Mrxyz
Sat Sep 12, 2020 8:23 pm
Forum: Investing - Theory, News & General
Topic: For those concerned about International Stocks...
Replies: 227
Views: 22758

Re: For those concerned about International Stocks...

I love it when all of smart people like you discuss, argue and dissect stuff like this topic (no offense .. just admiration!). I can even understand some of it! So, what is the conclusion? I have around 23% International in my current AA and its probably okay. However, I am 5-10 years from retiremen...
by Mrxyz
Sat Sep 05, 2020 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: What is PenFed good at?
Replies: 77
Views: 5686

Re: What is PenFed good at?

I have a 5% cashback for gas purchase using their CC.
by Mrxyz
Mon Aug 31, 2020 8:53 am
Forum: Investing - Theory, News & General
Topic: Vanguard seems to have web online sign on problem
Replies: 145
Views: 6746

Re: Vanguard seems to have web online sign on problem

Same here. Unable to load account once I sign on.
by Mrxyz
Thu Aug 27, 2020 10:57 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2010

Re: What to do/read/follow if retiring in 8-10 years?

Hi I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anythin...
by Mrxyz
Thu Aug 27, 2020 10:56 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2010

Re: What to do/read/follow if retiring in 8-10 years?

Bond tent, perhaps. https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/ There are reasons for doing this, but when we were actually ready to start building a bond/CD ladder/tent, we turned to increasing our bond funds, instead. For us, it was the simpli...
by Mrxyz
Thu Aug 27, 2020 10:52 am
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2010

Re: What to do/read/follow if retiring in 8-10 years?

Bond tent, perhaps. https://www.kitces.com/blog/managing-portfolio-size-effect-with-bond-tent-in-retirement-red-zone/ Very fascinating read! What is interesting is that I have read this many moons ago and did not make much sense! But NOW when it is relevant to my situation it makes a lot of sense! ...
by Mrxyz
Mon Aug 24, 2020 2:27 pm
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2010

Re: What to do/read/follow if retiring in 8-10 years?

arcticpineapplecorp. wrote: Mon Aug 24, 2020 1:58 pm sounds right. estate planning and/or long term care concerns (insurance?)
Thanks for the reply!

Estate planning has NOT been done yet (gulp!, yes, I/we know, we need to get it done!)
Long term care - Do not have insurance -- very confused with options presented to us. Any good resources?
by Mrxyz
Mon Aug 24, 2020 1:54 pm
Forum: Personal Investments
Topic: What to do/read/follow if retiring in 8-10 years?
Replies: 20
Views: 2010

What to do/read/follow if retiring in 8-10 years?

Hi I follow the 3 fund portfolio, with good NW and no EF, no debt and kids 529 paid off. Thinking forward, I plan to retire in 8 to 10 years. So do I keep going forward with my 3 fund portfolio with yearly re-balance with gradual increase in bond allocation until I retire OR do I have to do anything...
by Mrxyz
Mon Aug 10, 2020 7:11 pm
Forum: Personal Investments
Topic: Re: Real estate investing in current COVID situation
Replies: 4
Views: 637

Re: Real estate investing in current COVID situation

AerialWombat wrote: Mon Aug 10, 2020 7:00 pm COVID-19 has had zero impact on my real estate investing. I'm still a landlord. I still hold the same number of shares of the Fidelity REIT Index. I still invest in Groundfloor hard money notes.
Thanks.
Can you give me some more feedback about your Groundfloor experience?
by Mrxyz
Mon Aug 10, 2020 1:05 pm
Forum: Personal Investments
Topic: Re: Real estate investing in current COVID situation
Replies: 4
Views: 637

Re: Real estate investing in current COVID situation

Hi all,
I was looking into real estate investing (Equity multiple and other online companies - also mentioned by WCI and Physician on fire etc).
I wonder if the current COVID situation has changed anyone's plans ?
IOW - More home office, less work office etc mean lesser 'need' for real estate?
Thanks
by Mrxyz
Tue Jul 21, 2020 4:43 pm
Forum: Personal Consumer Issues
Topic: what is your weekly workout routine?
Replies: 112
Views: 12150

Re: what is your weekly workout routine?

All these posts are very inspiring! And also makes me feel very weak and lazy!
I run around 10-15 miles a week and do bodyweight exercises twice a week.
No enough I guess based on what I have read, but thats all I can manage at present!
by Mrxyz
Mon Jul 20, 2020 1:06 pm
Forum: Investing - Theory, News & General
Topic: Convince me not to sell all my US equities to Cash temporarily
Replies: 135
Views: 11504

Re: Convince me not to sell all my US equities to Cash temporarily

Seriously, this is not a criticism but an observation. If you had to ask this question, then your AA is wrong (for you). You need to rethink need to take risk, ability to take risk etc etc and come up with what will prevent you from asking such questions (aka SWAN test). I had similar thoughts many ...
by Mrxyz
Sun Jul 12, 2020 1:29 pm
Forum: Personal Consumer Issues
Topic: Any good car deals?
Replies: 52
Views: 3619

Re: Any good car deals?

FWIW,
I just bought a 2017 RAV 4 XLE, with 70,000 miles for $15,600. Tag, tax, title extra. Was below the KBB price and so went for it. Runs great -no issues.
by Mrxyz
Fri Jul 10, 2020 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 2009
Views: 488252

Re: Share your networth progression

What is the point of this thread? And I am not being sarcastic. The book, The Millionaire Next Door , took a survey of millionaires. They asked the millionaires if they tracked their net worth a. Yearly b. Quarterly c. Monthly d. Not at all If I recall the trend, almost all answered a, b, or c. The...
by Mrxyz
Fri Jul 03, 2020 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with all this MONEY ?
Replies: 201
Views: 21295

Re: What to do with all this MONEY ?

Encourage/force son to take a finance course? Teach/make him learn about money management which can benefit anyone.....
Donate to local hospitals?
by Mrxyz
Tue May 26, 2020 10:57 am
Forum: Investing - Theory, News & General
Topic: Anybody do any GOOD timing the market?
Replies: 123
Views: 8380

Re: Anybody do any GOOD timing the market?

I did NOT try to time the market but ; I moved my AA to 60-40 from 75-25 in January just because it was stock heavy before based on my age. So I got lucky with increasing my bond allocation by 15% before the stocks dropped. Not sure how much $ I "made" but I do not care to find out as I do...
by Mrxyz
Fri May 08, 2020 9:06 pm
Forum: Personal Investments
Topic: Recession coming (?) any change in investments?
Replies: 82
Views: 7347

Re: Recession coming (?) any change in investments?

Mrxyz, My replies are in green: << I have (larger than before) emergency fund, >> This has no meaning. How many months of expense is it? I have around 12 months of expenses instead of 6 months worth last year. <<3 kids who have around 3/4th of their college education funds saved for. >> How old are...
by Mrxyz
Fri May 08, 2020 8:57 pm
Forum: Personal Investments
Topic: Recession coming (?) any change in investments?
Replies: 82
Views: 7347

Re: Recession coming (?) any change in investments?

Hi all, So based on many indicators (e.g. unemployment rate), a recession is coming. So does this mean there needs to be any change in investments? I follow 3 fund portfolio with around 60/40 stocks/bond ratio, and am 50 plus years old with around 5-7 more years before retirement. I have (larger th...
by Mrxyz
Fri May 08, 2020 8:51 pm
Forum: Personal Investments
Topic: Recession coming (?) any change in investments?
Replies: 82
Views: 7347

Re: Recession coming (?) any change in investments?

Hi all, So based on many indicators (e.g. unemployment rate), a recession is coming. So does this mean there needs to be any change in investments? I follow 3 fund portfolio with around 60/40 stocks/bond ratio, and am 50 plus years old with around 5-7 more years before retirement. I have (larger th...
by Mrxyz
Fri May 08, 2020 8:41 pm
Forum: Personal Investments
Topic: Recession coming (?) any change in investments?
Replies: 82
Views: 7347

Re: Recession coming (?) any change in investments?

TheDDC wrote: Fri May 08, 2020 4:59 pm Be prepared to deploy the rest of your cash into equities when we hit bottom. Please tell us when that is, though.

-TheDDC
I have no idea when we will / have hit bottom. That is speculation and I do not know the answer.
by Mrxyz
Fri May 08, 2020 3:25 pm
Forum: Personal Investments
Topic: Recession coming (?) any change in investments?
Replies: 82
Views: 7347

Recession coming (?) any change in investments?

Hi all, So based on many indicators (e.g. unemployment rate), a recession is coming. So does this mean there needs to be any change in investments? I follow 3 fund portfolio with around 60/40 stocks/bond ratio, and am 50 plus years old with around 5-7 more years before retirement. I have (larger tha...
by Mrxyz
Mon May 04, 2020 12:08 pm
Forum: Personal Consumer Issues
Topic: [Use basement air to cool 2nd floor?]
Replies: 18
Views: 1321

Re: [Use basement air to cool 2nd floor?]

I'm not an engineer but I used to have a basement. Just to clarify this is a finished basement, correct? My basement was always humid, so it wouldn't have worked for me. Yes, it is a finished basement. There are many articles online regarding passive cooling. While I don't have a basement, today I ...