Search found 855 matches

by jfn111
Fri Feb 16, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: House for sale AO with concern
Replies: 11
Views: 906

Re: House for sale AO with concern

The majority of the offers I put in for buyers have some seller contributions requested. I work with their loan officers and they usually tell me what the buyer needs, based on cash on hand. Appraisal is always a concern. If the house was priced properly then there could be a problem. That said, 99...
by jfn111
Fri Feb 16, 2018 7:47 am
Forum: Personal Finance (Not Investing)
Topic: House for sale AO with concern
Replies: 11
Views: 906

Re: House for sale AO with concern

The majority of the offers I put in for buyers have some seller contributions requested. I work with their loan officers and they usually tell me what the buyer needs, based on cash on hand. Appraisal is always a concern. If the house was priced properly then there could be a problem. That said, 99%...
by jfn111
Sat Feb 10, 2018 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: your assets - now verses end of year?
Replies: 38
Views: 2352

Re: your assets - now verses end of year?

letsgobobby wrote:
Sat Feb 10, 2018 2:46 pm
jfn111 wrote:
Sat Feb 10, 2018 1:31 pm
I just peaked. :D Down 1.5% from Jan. 1st.
You say peaked, I say peeked.
You say tomato, I say tomahto.
Let’s call this whole thread off.
Oops, I hope -1.5% isn't my peak. :oops:
by jfn111
Sat Feb 10, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: what to look for when buying a flipped house
Replies: 27
Views: 1802

Re: what to look for when buying a flipped house

The price you pay will be based on comparative selling prices. Some of my rehabbers buy at Auction, for cash, and get a great deal on some properties. Permits are number one. Make sure all of the HVAC, electrical and plumbing were done by licensed professionals and inspected afterwords. A good inspe...
by jfn111
Sat Feb 10, 2018 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: your assets - now verses end of year?
Replies: 38
Views: 2352

Re: your assets - now verses end of year?

I just peaked. :D Down 1.5% from Jan. 1st.
by jfn111
Fri Feb 09, 2018 7:15 am
Forum: Personal Consumer Issues
Topic: Buying a rental house. Pay cash or mortgage?
Replies: 21
Views: 1655

Re: Buying a rental house. Pay cash or mortgage?

Most of my Investors like to use the 1% rule. (Monthly rent of 1% of the purchase price). I realise you might be giving your parents a break but what do you expect it to rent for in a "fair market" environment? A normal 20% down, investment mortgage, at 4% will cost you $954.83 per month plus taxes ...
by jfn111
Thu Feb 08, 2018 7:47 am
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5574
Views: 1260766

Re: U.S. stocks in freefall

I used the last week to "nudge" my AA back to my desired level I want to be at 40/60 but it had been sitting at 36/64. I'll look again next year and see where it is then.
On a bright note I lowered my company stock from 15% to 0.5%, over the last year. :D
by jfn111
Thu Feb 01, 2018 7:28 pm
Forum: Investing - Help with Personal Investments
Topic: I bought a stock today - Redfin (RDFN)
Replies: 286
Views: 19279

Re: I bought a stock today - Redfin (RDFN)

I think its a good gamble for a small amount of my money. Amazing to me that people like to gamble with their hard-earned money. Maybe it's different if you didn't work for it. But at least gamble at a casino so you can know the outcome quickly and know if you'll have to delay retirement or not. Pl...
by jfn111
Wed Jan 31, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: First time home buyer- Tips?
Replies: 18
Views: 1635

Re: First time home buyer- Tips?

I don't like non-contingent offers unless your a rehabber or GC who knows their way around a house. A good real estate agent knows which local lenders get things done on a timely basis. The choice of lender, and the type of financing, will have an effect on whether or not your offer is accepted. (In...
by jfn111
Tue Jan 30, 2018 4:42 pm
Forum: Personal Consumer Issues
Topic: Selling a home yourself after cancelation of Realtor listing:
Replies: 18
Views: 1806

Re: Selling a home yourself after cancelation of Realtor listing:

The Realtor you previously used has to be "the procuring cause" of the sale. It's put into the contract to protect the agent from a seller who tells a buyer, who the agent brought to the house, to "wait until the contract expires and I'll give you a better deal". I've never personally witnessed the ...
by jfn111
Tue Jan 30, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Chapter S Corp
Replies: 4
Views: 282

Re: Chapter S Corp

Thanks Atgard
by jfn111
Tue Jan 30, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Chapter S Corp
Replies: 4
Views: 282

Re: Chapter S Corp

Thanks Spirit Rider. I've been hesitant on playing any games, although who wants to pay more taxes than they need to.
It might be time to sit down with a CPA.
by jfn111
Tue Jan 30, 2018 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Chapter S Corp
Replies: 4
Views: 282

Chapter S Corp

Since I retired I got into selling real estate. It's been a fun part time job but since I partnered with a young go getter the income has been rising. I anticipate to earn around $80,000 - $100,000 this year and she's been bugging me to form a chapter S corporation. I collect a pension and and make ...
by jfn111
Sat Jan 27, 2018 7:29 am
Forum: Investing - Help with Personal Investments
Topic: I bought a stock today - Redfin (RDFN)
Replies: 286
Views: 19279

Re: I bought a stock today - Redfin (RDFN)

I do like Redfin's business model. I think it's the future of the industry, and Kelman is definitely impressive. I'm surprised that the courts have allowed brokerages to maintain their sham of an independent contractor relationship with their agents. It's only a matter of time before some of these ...
by jfn111
Fri Jan 26, 2018 8:44 pm
Forum: Personal Consumer Issues
Topic: Minor fender-bender on college property - not at fault - any concern with filing claim?
Replies: 11
Views: 873

Re: Minor fender-bender on college property - not at fault - any concern with filing claim?

I'm confused (not the first time). Your insurance is telling you YOU have to contact the other parties insurance company? What do you pay them for? They should be handling it.
by jfn111
Wed Jan 24, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Help needed with a loan/payoff scenario.
Replies: 14
Views: 589

Re: Help needed with a loan/payoff scenario.

Assuming the payoff date for a loan is early and static in the following two scenarios, how much more money does it cost to pay minimum payments on the loan followed by a large lump sum, than to pay extra payments on the loan from start to finish? The additional COST to suspending the payments is s...
by jfn111
Wed Jan 24, 2018 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Contemplating Selling a Rental Property
Replies: 15
Views: 1229

Re: Contemplating Selling a Rental Property

First time posting and long time lurker here. I purchased a small condo in DC in 2013 and relocated in 2014 for a new job opportunity. I have been successfully renting it out since, but have been barely breaking even monthly. Any small maintenance issues that happen generally result in me losing mo...
by jfn111
Tue Jan 23, 2018 6:47 pm
Forum: Personal Consumer Issues
Topic: Negotiation with landlord
Replies: 9
Views: 905

Re: Negotiation with landlord

I wouldn't sign the amendment. (You Amend a signed contract) Just tell him you will fill the tank up when you move out.
PS Most Colleges offer students help with problem landlords. Since I don't know the laws in your particular area you might ask them.
by jfn111
Sun Jan 21, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Mistakes made regarding my credit profile
Replies: 4
Views: 340

Re: Mistakes made regarding my credit profile

A credit card will usually report for 10 years after you close it. The only immediate effect is the total of available credit goes down but it looks like you currently have $41,000, which should be fine. "They say" you should keep overall utilization under 9% and have a minimum of 3 cards for the be...
by jfn111
Fri Jan 19, 2018 8:21 pm
Forum: Investing - Theory, News & General
Topic: How do Bogleheads reconcile efficient markets theory with Bitcoin?
Replies: 45
Views: 2360

Re: How do Bogleheads reconcile efficient markets theory with Bitcoin?

I'll be honest. I don't understand bitcoin and I can't reconcile it with anything. :oops:
by jfn111
Thu Jan 18, 2018 7:18 am
Forum: Personal Consumer Issues
Topic: How to overcome the fear of spending money? (Buying a car)
Replies: 55
Views: 3836

Re: How to overcome the fear of spending money? (Buying a car)

Just for fun I looked at our local craigslist and there are 52 Miata's for sale. This is the middle of freakin winter so not a prime time to be selling a convertible. :shock:
You should be able to get a deal on a lightly used one.
by jfn111
Mon Jan 15, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: Are land line phones still being supported?
Replies: 60
Views: 3804

Re: Are land line phones still being supported?

For all the folks in poor cell reception areas....why not just use 'wifi calling' on their smart phones? Free and digital quality. I keep a "land line" through the cable company because I can't get wifi calling to work regularly. My office is in the basement but I can get 1 or 2 bars on my ATT serv...
by jfn111
Sun Jan 14, 2018 7:45 am
Forum: Personal Consumer Issues
Topic: Anyone disenchanted with retirement?
Replies: 184
Views: 20088

Re: Anyone disenchanted with retirement?

For me, I'm happier with semi-retirement. It's been almost 6 years since I retired from megacorp. Getting away from the 9-5 and the office politics has been wonderful. I've always loved sales and it's so much more fun being my own boss and setting my own schedule. Going from the first meeting with a...
by jfn111
Sun Jan 14, 2018 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Firing real estate agent after offer made?
Replies: 29
Views: 3263

Re: Firing real estate agent after offer made?

Who provided the initial contact offer? If it was your agent's contract form & he presented it to the seller, then your agent will get his share of the commission through his broker once the sale is complete. Regarding a short sale process, usually the Seller's agent is the one that is doing most o...
by jfn111
Sat Jan 13, 2018 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Firing real estate agent after offer made?
Replies: 29
Views: 3263

Re: Firing real estate agent after offer made?

I'll second calling the Broker. The agent is the Procuring Cause, as stated above,but the commission goes to the Broker who's responsible for the agent. The Broker can assign another agent to finish the transaction and probably split the commission with the original agent. (This part is the Brokers ...
by jfn111
Thu Jan 11, 2018 12:50 pm
Forum: Personal Consumer Issues
Topic: anyone else enjoying an afternoon nap in retirement?
Replies: 19
Views: 1822

Re: anyone else enjoying an afternoon nap in retirement?

I take an afternoon nap whenever I can.
by jfn111
Wed Jan 10, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: home inspection on house I already live in?
Replies: 22
Views: 1965

Re: home inspection on house I already live in?

Since OP is the tenant and has access to the house, what does the forum think about OP having the inspector come before making an offer (ie without owner even being involved/aware)? Could that put OP in a position to make a stronger-looking offer, such as by waiving inspection contingency if OP alr...
by jfn111
Wed Jan 10, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: home inspection on house I already live in?
Replies: 22
Views: 1965

Re: home inspection on house I already live in?

The way it is done- you make the offer with an inspection contingency. (Or with a due diligence period, depending on your state.) When the offer is accepted THEN you hire the inspector. If you're a renter you may not know about all the other things you should put in as contingencies, or inspect for...
by jfn111
Wed Jan 10, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Lowball offer on a home
Replies: 82
Views: 7070

Re: Lowball offer on a home

There is nothing wrong with "low ball offers" if there is validity to the offer. A seller can ask anything for a house but that doesn't mean they will get their price. I run comps for my clients and we come up with a reasonable offer and present it. If it happens to be 20% less than the asking price...
by jfn111
Mon Jan 08, 2018 9:22 am
Forum: Forum Issues and Administration
Topic: Help me understand question-less financial status (e.g. "2 comma club") threads.
Replies: 175
Views: 8938

Re: Help me understand question-less financial status (e.g. "2 comma club") threads.

My 2 cents is I like those threads. It's a long slog through years of savings for most of us to get there. 99% of all the financial questions have been answered 50 times and if you want to take Moderation to the ultimate end you could have a Bot that responds to almost every question with "Read the ...
by jfn111
Sun Jan 07, 2018 8:22 am
Forum: Personal Finance (Not Investing)
Topic: How much are you putting in a 529?
Replies: 111
Views: 7777

Re: How much are you putting in a 529?

The wife and I started 529 plans for our 2 grandchildren. Nothing earth shattering, $1000 to start and $100 dollars per month, per kiddo. MN has now instituted a $3000 state deduction so we will make an extra payment to get to $1500 per kid each year. We opened them up when each of the GK's were bor...
by jfn111
Sat Jan 06, 2018 12:57 pm
Forum: Personal Consumer Issues
Topic: How to browse specifically for homes with "mother-in-law suite"?
Replies: 29
Views: 1896

Re: How to browse specifically for homes with "mother-in-law suite"?

My local MLS's public website does not make this easy, you would literally have to read the description of every house listing in the target area. I just double checked my MLS fields and we can't do a search either for Mother In Law Suites. (Or anything close). I would have to do a keyword search i...
by jfn111
Fri Jan 05, 2018 7:20 am
Forum: Investing - Theory, News & General
Topic: Hypothetical question: Will a man who lives forever own the world?
Replies: 23
Views: 1646

Re: Hypothetical question: Will a man who lives forever own the world?

This brought a flashback to college Political Science classes. H.G. Wells- The Sleeper Awakes. A great book! Wikipedia- "The Sleeper Awakes (1910) is a dystopian science fiction novel by H. G. Wells about a man who sleeps for two hundred and three years, waking up in a completely transformed London ...
by jfn111
Tue Jan 02, 2018 4:14 pm
Forum: Forum Issues and Administration
Topic: Slow loading of pages.
Replies: 27
Views: 2374

Re: Slow loading of pages.

Glad to see I'm not alone. I was about to run a virus scan. :shock:
by jfn111
Sun Dec 31, 2017 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to take advantage of lowered property value?
Replies: 24
Views: 1591

Re: How to take advantage of lowered property value?

Perhaps you might want to pay for an initial consultation with a real estate attorney if you feel that you overpaid for the property due to a fraudulent lack of disclosure. If "everybody knew" about the tower, that information should have been made available to you prior to making the purchase. Why...
by jfn111
Sat Dec 30, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating Listing Agreement
Replies: 4
Views: 469

Re: Negotiating Listing Agreement

On raw land I wouldn't worry about it. For home sales we don't want people traipsing through the house that aren't qualified buyers.
by jfn111
Sat Dec 30, 2017 4:35 pm
Forum: Personal Consumer Issues
Topic: We bought a house in June, and the ac & furnace system do not work. What should we do?
Replies: 49
Views: 3530

Re: We bought a house in June, and the ac & furnace system do not work. What should we do?

Sadly, Sellers lie all the time. That's why we have the Buyer's get an inspection. The Inspection of course is only as good as the Inspector. A home warranty wouldn't have done any good because the covered items have to be "proven" to be in working order at closing. The first thing the warranty comp...
by jfn111
Tue Dec 26, 2017 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Landlord vs tenant issue across the country
Replies: 32
Views: 3450

Re: Landlord vs tenant issue across the country

All the stuff about "barely staying there" is nonessential. All the stuff about "medical issues" is also nonessential. And the landlord certainly didn't get "a free month's of rent". OP signed a lease and then broke it within 1 month. Objectively, OP committed the action which led to this issue. No...
by jfn111
Tue Dec 26, 2017 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Landlord vs tenant issue across the country
Replies: 32
Views: 3450

Re: Landlord vs tenant issue across the country

I'm sorry OP but what you posted doesn't make any sense. You signed a lease and now want to get out of it. The $600 charge is probably to cover the landlords costs, plus hassel, in trying to get another tenant in. If they can re-rent the unit then they will let you out of your lease. I used to be a ...
by jfn111
Fri Dec 22, 2017 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone here purchased a home for cash (no mortgages)?
Replies: 39
Views: 3937

Re: Has anyone here purchased a home for cash (no mortgages)?

I would not advice you to pay cash for home. When you get loan, bank will ask you all sort of document from seller. This will protect you from hidden lien or all sort of mess on that property. When you take loan, seller should provide you some sort of guaranty. you may take loan and paid after sinc...
by jfn111
Thu Dec 21, 2017 1:53 pm
Forum: Personal Consumer Issues
Topic: Toys R Us online order warning
Replies: 23
Views: 2459

Re: Toys R Us online order warning

Pretty obvious BK = Bankruptcy... Were you actually confused? Have never seen "BK" stand for 'Bankruptcy'.....anywhere. Chapter 7 or Chapter 11. I wonder why someone would use the "K" in bankruptcy. "BR" would reflect the phonetics that are inherent to single work abbreviations. Tough crowd. :shock:
by jfn111
Tue Dec 19, 2017 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Online vs. Local Banks for Mortgage
Replies: 5
Views: 715

Re: Online vs. Local Banks for Mortgage

We've closed a couple of deals where the Buyer's used Quicken. I thought they were very professional and the Buyer's seemed to like them.
by jfn111
Sat Dec 16, 2017 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buy home with structural issues
Replies: 51
Views: 3830

Re: Buy home with structural issues

You don't say what your realtor has to say about this? I would ask him /her. This is exactly the sort of thing for which you are paying them. I would not assume that you will be out $100k, at least not without talking to a lawyer. In most case the real estate agents works for the seller and their d...
by jfn111
Sat Dec 16, 2017 11:27 am
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

Re: US Postal Service Informed Delivery

The app and website have not loaded for me all week. I receive the e-mail most days (not every day), but it just says "you have a mailpiece with no picture". I received one of those (mailpiece with no pic messages) yesterday for the first time. For the few days prior to that the email notifications...
by jfn111
Sat Dec 16, 2017 7:02 am
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

Re: US Postal Service Informed Delivery

Same thing here in MN. Either no email or very late after the mail has already come. I went on line yesterday and it said I was getting 4 mail pieces but "scan was unavailable".
by jfn111
Thu Dec 14, 2017 8:34 am
Forum: Investing - Help with Personal Investments
Topic: Reached 50X annual spending. Now what?
Replies: 56
Views: 6306

Re: Reached 50X annual spending. Now what?

I'm 61 with 40X annual spending. I'm comfortable with a 35/65 portfolio.
by jfn111
Wed Dec 13, 2017 10:18 am
Forum: Personal Consumer Issues
Topic: Downsizing - How much to invest in a house before selling?
Replies: 41
Views: 4918

Re: Downsizing - How much to invest in a house before selling?

It really depends on the market you're in. If there are a lot of similar houses that aren't selling fast, that have been updated, then you will need a substantial price reduction to get it sold. Obviously if you're in a market like San Francisco that won't be the case. General rules- Paint and carpe...
by jfn111
Wed Dec 13, 2017 8:43 am
Forum: Investing - Help with Personal Investments
Topic: Anyone own property used solely for Airbnb?
Replies: 9
Views: 1122

Re: Anyone own property used solely for Airbnb?

My kids moved and planned to use their old house for Airbnb. It was a great location 1 block from a lake and about equal distance between downtown and Mall of America. They advertised it and the bookings came fast and furious. The first rental went great but the second group decided to have a party....