Search found 921 matches

by jfn111
Tue Sep 18, 2018 5:00 pm
Forum: Personal Consumer Issues
Topic: Dental work and hypertension issue
Replies: 42
Views: 3277

Re: Dental work and hypertension issue

I'd be screwed going to that clinic. :shock:
by jfn111
Tue Sep 18, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2599

Re: Bank of America credit card “feature” (be careful with autopay)

I also have Auto-pay setup for the minimum balance. We generally pay our credit cards weekly but if were traveling it's nice to have a backup in place.
by jfn111
Thu Sep 13, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: Going to the Everglade. A few questions please.
Replies: 21
Views: 1166

Re: Going to the Everglade. A few questions please.

I've driven to Key West, from Naples, a couple of times in the last few years. Hwy 41 isn't a toll road and Hwy 1 down to the keys isn't a toll road. (Plan for a long slow drive).
by jfn111
Mon Aug 27, 2018 3:44 pm
Forum: Personal Consumer Issues
Topic: Real Estate sale question. Reasonable offer expiration time period?
Replies: 15
Views: 639

Re: Real Estate sale question. Reasonable offer expiration time period?

If I make an offer, for a client, and I don't have an answer back within 24 hours I assume they're fishing for a higher offer and we move on to look at other houses. (Unless the listing specifies that all offers will be looked at on X date). It's also in the sellers best interest to tell a potential...
by jfn111
Mon Aug 20, 2018 11:50 am
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7591

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Sun Aug 19, 2018 12:44 pm
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7591

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Wed Jul 18, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Selling mom's house
Replies: 50
Views: 4211

Re: Selling mom's house

I don't want to say never but.. she'll never get a loan on a house that can't be insured unless she takes out a rehab loan. Good luck with that because she will now have to qualify for a higher loan amount to cover the repairs. If you stay involved it sounds like it will turn into a money pit for al...
by jfn111
Wed Jul 11, 2018 7:31 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3077

Re: What's up with Wells Fargo

It all seems kind of crazy. My son has a WF credit card, checking and savings accounts with direct deposit from his work and 2 C/D's but they think his Brokerage account is abandoned. WTH? :oops:
by jfn111
Tue Jul 10, 2018 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3077

Re: What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account month...
by jfn111
Tue Jul 10, 2018 7:28 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3077

What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account monthl...
by jfn111
Sat Jun 30, 2018 8:42 pm
Forum: Investing - Theory, News & General
Topic: Do Advisers Add $$$ Value?
Replies: 71
Views: 5942

Re: Do Advisers Add $$$ Value?

Are you speaking of the general population as DIY investor or Boglehead regular posters? I've got relatives that wouldn't know the difference between a 401k vs IRA or what an index fund is. Where CDs and savings accounts is where their extra money goes. For them if they had a good advisor who taugh...
by jfn111
Fri Jun 29, 2018 11:49 am
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 511
Views: 54450

Re: Pulled the trigger and paid off the house today

Congratulations! It's a good feeling to be free of home loan debt. :sharebeer
by jfn111
Mon Jun 25, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage pre-approval questions
Replies: 12
Views: 1026

Re: Mortgage pre-approval questions

If your interested in an on-line lender we have had good luck with Quicken Loans. They have been very thorough and we haven't had a deal fall apart, yet, with them. As far as preapproval letters I like to have my buyers get them without a purchase price. I'll usually call the loan officer myself and...
by jfn111
Mon Jun 25, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4247

Re: Sudden appearance of multiple buyers real or negotiation tactic?

ResearchMed wrote:
Mon Jun 25, 2018 2:23 pm
Have you considered something like "$X amount over the next highest offer, not to exceed $Y"?
Also to be done with verification if you "win".

RM
Using an escalation clause can be a good strategy. I use these quite often. :beer
by jfn111
Mon Jun 25, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4247

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original ...
by jfn111
Mon Jun 25, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4247

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original b...
by jfn111
Thu Jun 14, 2018 8:35 am
Forum: Personal Consumer Issues
Topic: Home Sellers - do you read Buyer inspection reports?
Replies: 25
Views: 2388

Re: Home Sellers - do you read Buyer inspection reports?

I tell my sellers that neither one of us wants to see the report. That said, the buyer will want to negotiate repairs on any serious items and then we are still obligated to disclose, even if the deal falls apart. One of the most common ones is Radon. The Buyer will have the house tested and if the ...
by jfn111
Sat Jun 02, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3350

Re: Thoughts on Buying a "Flipped" House?

I work with a number of rehabbers and most of them do a good job. The reason they can "buy cheap" is they pay cash. Most people can't write a check for $500,000 for a fixer upper.
A good inspection is a must.
by jfn111
Wed May 16, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Selling land FSBO help please
Replies: 27
Views: 1573

Re: Selling land FSBO help please

legal questions...pay an expert. Like a lawyer. A real estate agent shouldn't be offering a legal opinion. It's a GED and a 40 hour class. At some point technology will bust that racket. That is not at all what I said. Here is what I said: In addition, a good realtor will have resources related to ...
by jfn111
Fri May 11, 2018 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4761

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Fri May 11, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4761

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Fri May 11, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4761

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Thu May 03, 2018 3:53 pm
Forum: Personal Consumer Issues
Topic: 1st Time Home Purchase Experience
Replies: 12
Views: 2007

Re: 1st Time Home Purchase Experience

Wow, great job! :beer
by jfn111
Thu May 03, 2018 7:18 am
Forum: Personal Consumer Issues
Topic: One Bathroom in Home Change Bathtub to Only Shower Hurt Resale?.
Replies: 32
Views: 2264

Re: One Bathroom in Home Change Bathtub to Only Shower Hurt Resale?.

In 20 years the kids can sell the house and the new buyer can put a tub back in if they want one. With that long a time horizon I would make the room the way I want it. PS- yes it will hurt resale value to not have one full bath in the house unless your in a crazy housing market where a tent sells f...
by jfn111
Thu May 03, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate Commissions - How Negotiable?
Replies: 31
Views: 2247

Re: Real Estate Commissions - How Negotiable?

Everything is negotiable. Here in MN our Brokerage requires that we offer 2.7% to the Buyers Rep. At 4.7% the listing agent would get 2% for their side. In a strong market, where you don't have to spend thousands on advertising, most agents would find that acceptable. In a market where the listing a...
by jfn111
Sun Apr 29, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Services that offer to buy your house?
Replies: 22
Views: 2661

Re: Services that offer to buy your house?

I would consider going this route with my house, because it so badly needs updating and I don't want to do the work. Even a house that in bad need of updating has a fair market value. That will be lower than a comparable house in good condition, but it's still way higher than what these guys will o...
by jfn111
Thu Apr 26, 2018 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6945

Re: Who benefits from "best and final offer" on condo?

I managed to determine the cause of our loss. The winning offer provided $200,000 in earnest money. If that isn't insane, I'm not sure what is. The buyer would lose all of that if they walked away at any point. I bet the seller is secretly hoping they walk away. That way they get $200k and can stil...
by jfn111
Thu Apr 26, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6945

Re: Who benefits from "best and final offer" on condo?

Our local market midwest market is popping right now. Small ranch, middle class suburb in the midwest was listed for $234,900. It was not going to appraise for more than $210,000. The day after listing, the sellers requested highest and best by 8:00p.m and there were limited time slots remaining to...
by jfn111
Thu Apr 26, 2018 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6945

Re: Who benefits from "best and final offer" on condo?

With these escalator clause bids, I assume it's illegal for the seller to have a friend submit a bid just below the maximum in the escalator? It's not a matter of Illegal but when I'm representing the buyer we put a stipulation in that we need to see the offer we were bidding against. The can redac...
by jfn111
Wed Apr 25, 2018 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6945

Re: Who benefits from "best and final offer" on condo?

With these escalator clause bids, I assume it's illegal for the seller to have a friend submit a bid just below the maximum in the escalator? It's not a matter of Illegal but when I'm representing the buyer we put a stipulation in that we need to see the offer we were bidding against. The can redac...
by jfn111
Wed Apr 25, 2018 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6945

Re: Who benefits from "best and final offer" on condo?

You also don't necessarily want to piss off your buyers and lose them by getting in endless rounds of bidding. One thing you could have done in your offer is say offer is $5k over next highest offer not to exceed $1.35M. And that you have to be shown the valid other offer (id/agency can be hidden)....
by jfn111
Mon Apr 23, 2018 12:14 pm
Forum: Personal Consumer Issues
Topic: Rebating buyer's agent for 1st time single-family home purchase
Replies: 40
Views: 3260

Re: Rebating buyer's agent for 1st time single-family home purchase

It sounds like your willing to do a lot of the work yourself so why not? Most of the Buying agent value comes in helping you find the house. The paperwork is the easy part.
by jfn111
Sun Apr 22, 2018 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Condo mortgage for seniors
Replies: 2
Views: 584

Re: Condo mortgage for seniors

In my experience, working with Buyers, it was fairly easy for them to get a home loan. The main thing the mortgage companies look at is a steady income stream. The income could be from social security, pensions, part time work or a consistent pattern of retirement savings withdrawals.
by jfn111
Sat Apr 21, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Learning about buying a home for complete beginner
Replies: 12
Views: 1536

Re: Learning about buying a home for complete beginner

Most states have home buying classes. These are often required for certain types of down payment assistance.
In MN we have- https://www.caphennepin.org/services/fi ... -workshop/
by jfn111
Sat Apr 21, 2018 6:58 am
Forum: Personal Consumer Issues
Topic: How long have you been employed?
Replies: 44
Views: 3009

Re: How long have you been employed?

Lets see- I'm 61 now and I started my first paper route at 11. I've worked at some kind of job ever since. :shock:
by jfn111
Fri Apr 20, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Guaranty appraisal on real estate. Good idea? This must be a bubble?
Replies: 21
Views: 1571

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

Appraisals are always a look in the rear view mirror. As prices are rising they can only use closed comps. If there is little inventory they have to go further back to find an appropriate number of comps to make their appraisal. This can be very frustrating for the buyer, esp. a 3% down FHA buyer. :...
by jfn111
Mon Apr 16, 2018 6:08 am
Forum: Personal Finance (Not Investing)
Topic: Use 25k From Brokerage Account For Investment Property?
Replies: 29
Views: 2657

Re: Use 25k From Brokerage Account For Investment Property?

Hello oinkyboinky Real estate investing can be a great way to set yourself up for a secondary income stream. It can also be a miserable experience. Trying to be an absentee landlord can be a very costly way to get started. Your looking to buy in an unknown area, neighborhoods can change in a matter ...
by jfn111
Sun Apr 15, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Owners Title Insurance - Super Heavy Handed Pitch
Replies: 101
Views: 6804

Re: Owners Title Insurance - Super Heavy Handed Pitch

I feel compelled to provide a counterpoint to the pro title insurance posts. Yes, sign the waiver it is standard. Yes, we skipped the title insurance on our Cambridge, MA home purchase. I have few decisions in my life that I am more satisfied with. I saved nearly $4000 instead of paying the title i...
by jfn111
Thu Apr 12, 2018 8:06 am
Forum: Personal Finance (Not Investing)
Topic: realtor wants to show house to buyer, no listing agent for me
Replies: 55
Views: 5387

Re: realtor wants to show house to buyer, no listing agent for me

Thanks all for your time and I truly value all your suggestions. :sharebeer I somewhat felt obligated to show my house since I said I would. But after reading everyone's advice, I will not allow the private viewing. When the realtor calls back with a visit time, I will firmly say I have changed my ...
by jfn111
Sun Apr 08, 2018 7:24 pm
Forum: Personal Consumer Issues
Topic: Name something you had to have and now you regret purchasing it?
Replies: 387
Views: 46156

Re: Name something you had to have and now you regret purchasing it?

The huge hot tub that we paid dearly for many years ago which we used frequently for a couple of years then completely ignored, unless my wife got nostalgic, causing me to start the process all over again for a single use . Regular maintenance/draining & refilling, $50 a month additional in electri...
by jfn111
Wed Apr 04, 2018 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Am I Crazy to Consider Relocating 5 Months after Buying a House?
Replies: 28
Views: 3334

Re: Am I Crazy to Consider Relocating 5 Months after Buying a House?

If inventory stays as low as it has, in the Twin Cities, you should be able to recoup your $15,000. :D
by jfn111
Mon Apr 02, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford this house?
Replies: 44
Views: 4070

Re: Can we afford this house?

Hi Sergio The Twin Cities market is a little nuts right now. $250,000 will get you a house in a decent school district. Think East Bloomington, Richfield to the South or Brooklyn Center, Coon Rapids or Fridley to the North. (You will have to look in the $230,000 price range and be prepared to go ove...
by jfn111
Sun Apr 01, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 318
Views: 27847

Re: Got my Ruth's Chris seminar invitation, "Surviving Retirement"

My wife and I are both retired and she has her IRAs (Traditional, Rollover, and Roth) with Fidelity. Thus we were invited to a Ruth Chris dinner presentation for retirement planning last year. Is this a common thing for Fidelity customers? Anyone know what age you have to be and how much money you ...
by jfn111
Sun Mar 25, 2018 5:02 pm
Forum: Personal Consumer Issues
Topic: Big time home inspection issues
Replies: 44
Views: 5650

Re: Big time home inspection issues

I find it upsetting that your inspector made your realtor cringe. When we looked at historic homes, our realtor had our back. On one property we submitted an offer in the morning. That afternoon our realtor and her husband looked at it and determined it needed $20k in HVAC work. We pulled our offer...
by jfn111
Sat Mar 24, 2018 9:50 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5596

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

I found this thread timely because I spent the day with a Lawyer helping her find a house. She had no desire to do it herself. Of course you can do it without an agent. Work with the listing agent, or a FSBO, and try to negotiate a discount. In my market most houses are going into multiple offers a...
by jfn111
Sat Mar 24, 2018 7:56 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5596

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

I found this thread timely because I spent the day with a Lawyer helping her find a house. She had no desire to do it herself. Of course you can do it without an agent. Work with the listing agent, or a FSBO, and try to negotiate a discount. In my market most houses are going into multiple offers an...
by jfn111
Fri Mar 23, 2018 8:27 pm
Forum: Personal Consumer Issues
Topic: Costco Kirkland Brand Liquor
Replies: 63
Views: 8639

Re: Costco Kirkland Brand Liquor

In MN the Liquor stores have to be a seperate business. They are usually connected to the Costco or Sam's club but have seperate entrances and cashiers. I have seen that in a few states. Seems so silly. I live in one of the most corrupt states/cities (IL/Chicago) and we don't even have separate sto...
by jfn111
Fri Mar 23, 2018 8:15 pm
Forum: Personal Consumer Issues
Topic: Costco Kirkland Brand Liquor
Replies: 63
Views: 8639

Re: Costco Kirkland Brand Liquor

In MN the Liquor stores have to be a seperate business. They are usually connected to the Costco or Sam's club but have seperate entrances and cashiers. I have seen that in a few states. Seems so silly. I live in one of the most corrupt states/cities (IL/Chicago) and we don't even have separate sto...
by jfn111
Fri Mar 23, 2018 8:02 pm
Forum: Personal Consumer Issues
Topic: Costco Kirkland Brand Liquor
Replies: 63
Views: 8639

Re: Costco Kirkland Brand Liquor

In MN the Liquor stores have to be a seperate business. They are usually connected to the Costco or Sam's club but have seperate entrances and cashiers.
by jfn111
Fri Mar 23, 2018 6:32 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 27210

Re: Anyone Deleting Facebook?

Facebook has become an important component in advertising for real estate. I posted a couple of listings yesterday and received 2 buyer referrals from the posts. It's also a good way of keeping in contact with previous customers. Liking their posts and maintaining a link is a necessity for referrals...