Search found 779 matches

by jfn111
Mon Oct 23, 2017 6:31 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage Financing with no Credit Score
Replies: 2
Views: 151

Re: Mortgage Financing with no Credit Score

I was just talking with one of my local mortgage guys about a customer with a similar problem. He said it wasn't a "big deal" that he can build a score with copies of paid bills and check stubs.
A credit union or an independent mortgage broker might be your best bet.
by jfn111
Sat Oct 21, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: 2 comma club
Replies: 8
Views: 1221

Re: 2 comma club

Congratulations :sharebeer
by jfn111
Sat Oct 21, 2017 4:30 pm
Forum: Personal Consumer Issues
Topic: What service do you pay for that you could easily do yourself?
Replies: 43
Views: 3032

Re: What service do you pay for that you could easily do yourself?

This year we hired a lawn care service for the first time. This isn't for mowing, just for weed killing and fertilization. I must admit they did a better job then I did so we'll probably contract again for next year.
by jfn111
Mon Oct 02, 2017 9:01 am
Forum: Local Chapters and Bogleheads Community
Topic: Retirement Class of 1998 (Sheepdog's Experience)
Replies: 45
Views: 4081

Re: Retirement Class of 1998 (Sheepdog's Experience)

Great post Sheepdog. This group has been a god send to help plan for retirement.
by jfn111
Sun Oct 01, 2017 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Moving from one paid-for house to another
Replies: 22
Views: 1943

Re: Moving from one paid-for house to another

You sell your house first and negotiate a rent-back from the buyer for while you're looking for the new place. I disagree if the property you are selling is as hot as described, Then find the house your wife wants first so there is no pressure to hurry up. Put in a good offer on property B continge...
by jfn111
Sat Sep 30, 2017 7:54 am
Forum: Investing - Theory, News & General
Topic: 2017 BOGLEHEAD CONTEST -- Third Quarter Leaders
Replies: 13
Views: 1889

Re: 2017 BOGLEHEAD CONTEST -- Third Quarter Leaders

495th place. I suck at guessing the market. :oops:
by jfn111
Fri Sep 29, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Two Comma Club
Replies: 17
Views: 4305

Re: Two Comma Club

Wow, all in 4 years. Well done!
by jfn111
Sun Sep 24, 2017 8:46 am
Forum: Personal Finance (Not Investing)
Topic: The right offer on a home
Replies: 10
Views: 1112

Re: The right offer on a home

One bedroom homes are very difficult to sell. (2 bedroom homes aren't a picnic either). Have your Realtor run comps on the land and start from there. If he's into the property for $232,000 then you have a lot of room to play vs a $329,000 asking price.
Don't be afraid to start low and let him counter.
by jfn111
Fri Sep 22, 2017 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Realtor to buy home?
Replies: 36
Views: 2941

Re: Realtor to buy home?

Before we bought a house, we saw one we were interested in before we had an agent. We then engaged an agent with an agreement that she would rebate part of her commission to us if we bought that particular house. She then represented us, arranged a showing, made an offer, etc. We ended up buying th...
by jfn111
Thu Sep 21, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Realtor to buy home?
Replies: 36
Views: 2941

Re: Realtor to buy home?

I just want to add that the commission is rarely split evenly between listing agent and buyer's agent. The usual rate offered to the buyer's agent is 2.5% - 2.7% (at least here in Minneapolis). Depending on the negotiated rate between the seller and her agent the listing agent is usually making more...
by jfn111
Thu Sep 21, 2017 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Realtor to buy home?
Replies: 36
Views: 2941

Re: Realtor to buy home?

My son is looking to buy a home and I'm just wondering if it's beneficial to work with a Realtor when buying? I do see the value working with a Realtor when selling but unsure when buying. With site's like Trulia and Zillow it's very easy to look for homes. Any help would be appreciated. It's usual...
by jfn111
Fri Sep 01, 2017 8:00 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe: Active Loser's Game Also A Trap
Replies: 1
Views: 481

Re: Larry Swedroe: Active Loser's Game Also A Trap

Good Article. Thanks for sharing. :beer
by jfn111
Wed Aug 30, 2017 7:26 am
Forum: Personal Finance (Not Investing)
Topic: How do you know you're not being scammed when buying a house?
Replies: 33
Views: 3248

Re: How do you know you're not being scammed when buying a house?

What you need to worry about is wiring your closing proceeds to the right place. https://www.consumerfinance.gov/about-us/blog/buying-home-watch-out-mortgage-closing-scams/ It is a real problem. Your realtor/attorney, escrow company and lender should be talking to you. I'll second this. Verify with...
by jfn111
Tue Aug 29, 2017 9:02 am
Forum: Investing - Theory, News & General
Topic: Learning from loss
Replies: 23
Views: 2864

Re: Learning from loss

I learned to quit doing stupid stuff. I had invested in a small company, much more to the story, but it cost me about $100,000 to untangle myself. :oops:
Those simple 3 fund portfolios look pretty good after that.
by jfn111
Sat Aug 26, 2017 4:52 pm
Forum: Personal Consumer Issues
Topic: Hiring a real estate agent to buy home
Replies: 21
Views: 1741

Re: Hiring a real estate agent to buy home

I prefer to use a discount broker that will rebate a portion of their commission to me. On my last house I got a rebate for 2% of the purchase price. I knew the area and the comps so she was just filling in a form and showing up for the inspection and closing. I'll be a 1% Facilitator all day long ...
by jfn111
Thu Aug 17, 2017 7:41 am
Forum: Personal Finance (Not Investing)
Topic: How to compensate realtor if sold by owner?
Replies: 7
Views: 1248

Re: How to compensate realtor if sold by owner?

Accidental landlord here. Thanks for help with past posts. Situation: Tenant is out. Place is clean. No realtor contract is signed but have one lines up we are happy with. I have two seperate acquaintances I would like to show the property to before the contract is signed and maybe get lucky for a ...
by jfn111
Fri Aug 11, 2017 6:45 am
Forum: Personal Consumer Issues
Topic: First time home seller, advice on FSBO, MLS, etc?
Replies: 7
Views: 729

Re: First time home seller, advice on FSBO, MLS, etc?

The first thing you have to decide is if you're going to offer a commission to the Buyer's Agent (Selling Agent). This is usually somewhere between 2.5-3%. The next step, if you want MLS access, is to shop around for a flat fee limited listing company or agent. You can find companies that will put i...
by jfn111
Wed Jul 26, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2483

Re: Do people really buy foreclosures unseen?

I work with a number of investors and we avoid these properties like the plague. Often the bank wants to hand off their problems to an investor and let them try to evict the occupants. Sure, they can be good deals when everything goes smoothly but, I have also read about evictions that took 5 years...
by jfn111
Wed Jul 26, 2017 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2483

Re: Do people really buy foreclosures unseen?

I work with a number of investors and we avoid these properties like the plague. Often the bank wants to hand off their problems to an investor and let them try to evict the occupants. Sure, they can be good deals when everything goes smoothly but, I have also read about evictions that took 5 years ...
by jfn111
Mon Jun 19, 2017 3:46 pm
Forum: Personal Consumer Issues
Topic: For Sale By Owner HOUSE- Advice Please
Replies: 26
Views: 3363

Re: For Sale By Owner HOUSE- Advice Please

For a full price offer, with no contingencies, I agree with hiring a RE Attorney.
by jfn111
Sun Jun 04, 2017 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Hire a lawyer to file for SSD?
Replies: 13
Views: 1233

Re: Hire a lawyer to file for SSD?

I can only base this on family that went through this but it seems the first step is to file for SSD. Only if you are rejected do you need to contact an attorney. (Every once in awhile the Gov. gets it right :D )
by jfn111
Mon May 08, 2017 7:29 am
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 58
Views: 6365

Re: Issue With Real Estate Agent (Seller)

I'm bringing a $449,000 house on the market with a 5% commission. The Brokerage I work for requires that we offer at least 2.7% to the Selling Agent (Buyer's Agent) so that leaves me with 2.3%. I do this for all my investors since I helped them buy the house. It sounds like you have 3 comp sales for...
by jfn111
Wed May 03, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Downsizing to Apartment
Replies: 25
Views: 3859

Re: Downsizing to Apartment

Levett wrote:Wow.

For just an instant I thought sscritic was back.

Disappointed, for sure.

Lev

+1
by jfn111
Thu Mar 30, 2017 6:58 am
Forum: Personal Consumer Issues
Topic: Do I need an electrician? If so how much would it cost?
Replies: 32
Views: 2640

Re: Do I need an electrician? If so how much would it cost?

Your best route is probably to get an electrician. If you have a light switch there is usually only a "hot" wire running to the switch. The neutral wire only running to the light fixture. You will need to "fish" the neutral wire down to the switch to have a combination switch and...
by jfn111
Mon Mar 27, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Sell our house in hot market?
Replies: 14
Views: 1692

Re: Sell our house in hot market?

I'll throw my 2 cents in since I'm familiar with the Twin Cities market. The market is "hot" right now and who knows if this is sustainable or not. We're getting multiple offers the day some houses go on the market. It's a sellers dream and a buyers nightmare. You have half the battle won ...
by jfn111
Wed Mar 22, 2017 2:25 pm
Forum: Personal Consumer Issues
Topic: Do I need title insurance?
Replies: 37
Views: 3038

Re: Do I need title insurance?

I often wonder myself whether or not it's worthwhile but I don't want to be that RE Agent that tells my client they don't need it and something happens. :shock:
by jfn111
Wed Mar 22, 2017 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Wife wants to get into real-estate
Replies: 29
Views: 5233

Re: Wife wants to get into real-estate

I know some RE Agents that are into rehabbing and flipping or renting out the finished product. Some of them do well while others seem to spend all their time putting out fires. I prefer to work with the investors, helping them find the properties, and then just collect my commission check and move ...
by jfn111
Fri Mar 17, 2017 5:31 am
Forum: Personal Finance (Not Investing)
Topic: Purchase and Sale of home: pearls of advice
Replies: 29
Views: 2907

Re: Purchase and Sale of home: pearls of advice

Up here in snowy MN it's called an Inspection Contingency. It's usually 10-14 days where you have the house inspected and you can back out of the contract and still get your earnest money returned. It's a standard provision we put in almost all contracts to protect the buyers.
by jfn111
Sun Mar 12, 2017 6:24 am
Forum: Investing - Help with Personal Investments
Topic: How Many Of You Listen To The Noise?
Replies: 19
Views: 1620

Re: How Many Of You Listen To The Noise?

I usually have CNBC playing on the tv in the background while I'm working in my office. I enjoy reading Martin Armstrong's blog, as well as others, and sometimes I'll get some ideas for my "play money" account. :shock:
by jfn111
Tue Mar 07, 2017 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: How do you use a trust to buy a house?
Replies: 4
Views: 967

Re: How do you use a trust to buy a house?

Depending on the market contingent offers can be a non starter. Unless he lives in a very slow market or wants to buy an odd ball house he will be better off with a short term rental and then make a cash offer on a house.
by jfn111
Fri Mar 03, 2017 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Buying a Cooperative (co-op) unit - Questions to ask
Replies: 29
Views: 4127

Re: Buying a Cooperative (co-op) unit - Questions to ask

The thing that would concern me is what you said "but the coops for my city (unlike NYC) are rare". They are rare in my area also and the few I've taken clients to look at the clients ultimately felt that the whole process was to confusing and wouldn't pursue the purchase. The eventual res...
by jfn111
Mon Feb 27, 2017 7:37 pm
Forum: Personal Consumer Issues
Topic: Sellers disclosure form has sections not marked
Replies: 26
Views: 2452

Re: Sellers disclosure form has sections not marked

I'll agree that's it's a red flag. The listing agent should have made the seller fill the form out completely prior to listing the house. That said, some sections are left blank because they don't apply. A house in a city (usually) won't have well and septic. Not many houses where I live have drain ...
by jfn111
Tue Feb 21, 2017 5:46 am
Forum: Personal Finance (Not Investing)
Topic: How do I buy a building lot from current owner ...
Replies: 18
Views: 1791

Re: How do I buy a building lot from current owner ...

I will agree with the real estate attorney. I was recently helping out one of my investors and I tracked down the lot owner and negotiated the price for the lot (you will have to do this part yourself). The attorney handles the title search and the closing. In my case the lot had $4,500 in back taxe...
by jfn111
Fri Feb 10, 2017 7:14 am
Forum: Personal Consumer Issues
Topic: BRK Annual Shareholder Meeting- is it worth going?
Replies: 20
Views: 2391

Re: BRK Annual Shareholder Meeting- is it worth going?

I went a couple of years ago and had a good time. Hearing Warren and Charlie speak live was a great experience and it was interesting to wander the exhibit hall and see the range of products and companies they control.
by jfn111
Wed Feb 08, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Is it better to get a mortgage from a local/small lender?
Replies: 27
Views: 2721

Re: Is it better to get a mortgage from a local/small lender?

In my market I "suggest" to buyers to use a local bank, with the exception that US Bank has been pretty good. My Brokerage does have a mortgage dept. but I have never recommended them. If asked, I give the buyer a list of 3 or 4 mortgage officers that have good communication skills and a t...
by jfn111
Tue Feb 07, 2017 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buying home - mortgage lender requires repairs - buy in cash instead?
Replies: 6
Views: 949

Re: Buying home - mortgage lender requires repairs - buy in cash instead?

I'm in MN and we have these types of repairs done in the winter all the time. I'm assuming you're going FHA, or VA, since they are the most picky about peeling paint. A handyman should be able to do a shed roof in a couple of hours and the scraping and repainting only needs to be done to the peeling...
by jfn111
Thu Feb 02, 2017 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing 4 Family House for Rental Income
Replies: 34
Views: 2771

Re: Purchasing 4 Family House for Rental Income

aqan wrote:I'd want more skin in the game, at 3% down people will start walking out at first sign of trouble. Maybe you guys can deposit 50% of the profit into a rainy day fund

This is the key. Have a good reserve fund to take care of vacancies and surprise repairs.
by jfn111
Mon Jan 30, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax statement after selling home? Yes or no?
Replies: 18
Views: 1740

Re: Tax statement after selling home? Yes or no?

You sure won't be getting one from your Realtor. :shock:
As far as the Closer, the paperwork you got at closing is the only paperwork you will get from them.
by jfn111
Wed Jan 25, 2017 10:59 am
Forum: Local Chapters and Bogleheads Community
Topic: HAPPY 93RD BIRTHDAY, TAYLOR!
Replies: 199
Views: 10767

Re: HAPPY 93RD BIRTHDAY, TAYLOR!

Happy Birthday Taylor :sharebeer
by jfn111
Tue Jan 24, 2017 10:21 am
Forum: Personal Consumer Issues
Topic: Those silly lotion containers
Replies: 39
Views: 6562

Re: Those silly lotion containers

A very similar issue with the Propane Exchange program. With the exchange they only fill the tank to 15 LBs although the tanks are designed to hold 20 LBs. Not only is it cheaper to get the tank filled but you also get 25% more propane. Convenience comes with a cost. I haven't found any company wil...
by jfn111
Sun Jan 22, 2017 11:30 am
Forum: Forum Issues and Administration
Topic: Site OFFLINE TODAY, Saturday, at 4 PM Eastern (21:00 UTC)
Replies: 32
Views: 3477

Re: relocation [Bogleheads server temporarily relocated]

It's probably just me but I had to look up colocation. :D
by jfn111
Tue Jan 17, 2017 7:42 pm
Forum: Personal Consumer Issues
Topic: Biting the bullet and getting off the roof.
Replies: 41
Views: 6159

Re: Biting the bullet and getting off the roof.

I had leaf guards installed 6 or 7 years ago. They work great and I don't miss climbing up on the roof. :shock:
by jfn111
Mon Jan 16, 2017 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on buying a house from a colleague
Replies: 37
Views: 3640

Re: Thoughts on buying a house from a colleague

You don't need a Realtor but you probably need a facilitator to handle the transaction. This could be an agent for a flat fee or an attorney. Even though you are buying from an acquaintance there still needs to be inspections and negotiations on price and potential repairs. Some people are confident...
by jfn111
Sat Jan 14, 2017 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Minn Life VAL Policy
Replies: 11
Views: 767

Re: Minn Life VAL Policy

buythefarm wrote:Did you sell out of the VAL? What did you decide to do? Im curious about what you experienced with the surrender costs and what taxes you are now facing on the policy...

She hasn't been active on the board since Sept. 10th, 2015.
by jfn111
Fri Jan 13, 2017 6:05 am
Forum: Investing - Theory, News & General
Topic: Buying vs Leasing a car for Real Estate Agent
Replies: 6
Views: 1186

Re: Buying vs Leasing a car for Real Estate Agent

I chose to buy vs lease so I didn't have to manage the miles driven every year. It seems that most leases are in the 10,000-15,000 mile per year range. I put on 18,000 miles last year, including a trip to Florida, so your usage may vary. :sharebeer
by jfn111
Thu Jan 12, 2017 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Doing an intra-family loan
Replies: 18
Views: 1356

Re: Doing an intra-family loan

Gifts are quite common for R/E purchases. I'm working with a client right now, getting a down payment gift, and the banks are picky. The donor has to sign that it is in fact a gift, and they have to supply bank statements showing where the monies are coming from. I've never heard of a gift for the d...
by jfn111
Wed Jan 11, 2017 7:05 pm
Forum: Investing - Help with Personal Investments
Topic: Home Advice
Replies: 9
Views: 768

Re: Home Advice

yeah just park it in a saving/money market. Note that it would be most best if you could keep it in the account that you plan to wire the money out of as part of the closing. Because you will probably be asked to provide bank statements as part of the loan underwriting, and more recent bank history...