[bearishgurl]

1. Beginning adulthood without debt is worth far more than a designer diploma.

The authors’ No. 1 rule for parents: Don’t let your child go into debt for college. In 2010, almost two thirds of undergraduates borrowed money, and student-loan debt outpaced credit card debt for the first time. The College Board likes to say that a typical senior graduates with “only” $24,000 in debt, but with interest, collection charges, and penalties for postponed payments, the amounts owed can exceed $100,000. If you ever default on a federal student loan (and the rate of defaults is rising), you’ll be hounded for life. Lenders can garnish your wages, intercept your tax refunds, and have your professional license revoked. You can’t work for the government or collect your social security. “People have been sold this propaganda: ‘The rates are so low; just get a loan,’ ” Dreifus says. “The long-term effect is to cripple your children.”

Well said. I’m glad this author finally acknowledged this “fresh-out-of-the-gate-deep-in-debt” phenomenon publicly. I’ve been saying this for years and have been looked on like I’m some kind of a “substandard” parent :=(

[bearishgurl]

1. Beginning adulthood without debt is worth far more than a designer diploma.

The authors’ No. 1 rule for parents: Don’t let your child go into debt for college. In 2010, almost two thirds of undergraduates borrowed money, and student-loan debt outpaced credit card debt for the first time. The College Board likes to say that a typical senior graduates with “only” $24,000 in debt, but with interest, collection charges, and penalties for postponed payments, the amounts owed can exceed $100,000. If you ever default on a federal student loan (and the rate of defaults is rising), you’ll be hounded for life. Lenders can garnish your wages, intercept your tax refunds, and have your professional license revoked. You can’t work for the government or collect your social security. “People have been sold this propaganda: ‘The rates are so low; just get a loan,’ ” Dreifus says. “The long-term effect is to cripple your children.”

Well said. I’m glad this author finally acknowledged this “fresh-out-of-the-gate-deep-in-debt” phenomenon publicly. I’ve been saying this for years and have been looked on like I’m some kind of a “substandard” parent :=(

[bearishgurl]

1. Beginning adulthood without debt is worth far more than a designer diploma.

The authors’ No. 1 rule for parents: Don’t let your child go into debt for college. In 2010, almost two thirds of undergraduates borrowed money, and student-loan debt outpaced credit card debt for the first time. The College Board likes to say that a typical senior graduates with “only” $24,000 in debt, but with interest, collection charges, and penalties for postponed payments, the amounts owed can exceed $100,000. If you ever default on a federal student loan (and the rate of defaults is rising), you’ll be hounded for life. Lenders can garnish your wages, intercept your tax refunds, and have your professional license revoked. You can’t work for the government or collect your social security. “People have been sold this propaganda: ‘The rates are so low; just get a loan,’ ” Dreifus says. “The long-term effect is to cripple your children.”

Well said. I’m glad this author finally acknowledged this “fresh-out-of-the-gate-deep-in-debt” phenomenon publicly. I’ve been saying this for years and have been looked on like I’m some kind of a “substandard” parent :=(

[bearishgurl]

In my household, the remaining resident “Muffy” has three choices in which to set their sights on:

CA CC
UC
CSU

They already know this and have a few in these categories picked out to apply for. If they don’t get accepted, it will be CC for the first two years :=]

[bearishgurl]

In my household, the remaining resident “Muffy” has three choices in which to set their sights on:

CA CC
UC
CSU

They already know this and have a few in these categories picked out to apply for. If they don’t get accepted, it will be CC for the first two years :=]

[bearishgurl]

In my household, the remaining resident “Muffy” has three choices in which to set their sights on:

CA CC
UC
CSU

They already know this and have a few in these categories picked out to apply for. If they don’t get accepted, it will be CC for the first two years :=]

[bearishgurl]

In my household, the remaining resident “Muffy” has three choices in which to set their sights on:

CA CC
UC
CSU

They already know this and have a few in these categories picked out to apply for. If they don’t get accepted, it will be CC for the first two years :=]

[bearishgurl]

In my household, the remaining resident “Muffy” has three choices in which to set their sights on:

CA CC
UC
CSU

They already know this and have a few in these categories picked out to apply for. If they don’t get accepted, it will be CC for the first two years :=]

[bearishgurl]

[quote=CA renter]Not only did they employ far more people, but most people could graduate from high school and get a job that could support themselves and, possibly, an entire family — on ONE income.[/quote]

Thank you, CAR :=]

[bearishgurl]

[quote=CA renter]Not only did they employ far more people, but most people could graduate from high school and get a job that could support themselves and, possibly, an entire family — on ONE income.[/quote]

Thank you, CAR :=]

[bearishgurl]

[quote=CA renter]Not only did they employ far more people, but most people could graduate from high school and get a job that could support themselves and, possibly, an entire family — on ONE income.[/quote]

Thank you, CAR :=]

[bearishgurl]

[quote=CA renter]Not only did they employ far more people, but most people could graduate from high school and get a job that could support themselves and, possibly, an entire family — on ONE income.[/quote]

Thank you, CAR :=]

[bearishgurl]

[quote=CA renter]Not only did they employ far more people, but most people could graduate from high school and get a job that could support themselves and, possibly, an entire family — on ONE income.[/quote]

Thank you, CAR :=]

[bearishgurl]

[quote=Kingside]My Encinitas investments were as a result of being a moveup buyer who did not sell my old properties. I still think this is a great way to go for first time investors in general.

My Escondido investments are a long complicated story which do not pertain to the average investor. I did pick up a triplex in Escondido earlier this year for under $200K. I tend not to look at triplexes priced in the 4’s, but that is just me.

For Encinitas, I manage them myself. For Escondido, I have a manager. What gives me peace of mind is buying at the right price from a cash flow perspective, not the location.[/quote]

Very sound advice, Kingside. You were very fortunate to recently pick up that triplex for <$200K. I am situated in an urban "sea of WWII boxes and mid-century ranches" owned by the "mostly-over-65 set" here in South County. Many of these owners are original owners who also own nearby sfr’s, sm apt complexes, parking lots and comm’l bldgs (acquired/purchased long ago). Yes, most of these properties ARE “walking distance” from their residences. However, some of these owners are VERY old now so can no longer manage their own properties. In some cases, their children are managing them. The ones that I have spoken to extensively have stated to me that they would only invest in areas they know very well and that is their local area.

Of course these properties cash flow for them because they are either paid-off or have a very low encumbrance against them. I have no doubt that even 40 years ago, they cash-flowed. Having a mo PITI of $138 or $168 and a mo rental income of $225 to $250 is cash flow. It’s all relative.

It is difficult to find this kind of deal today.

[bearishgurl]

[quote=Kingside]My Encinitas investments were as a result of being a moveup buyer who did not sell my old properties. I still think this is a great way to go for first time investors in general.

My Escondido investments are a long complicated story which do not pertain to the average investor. I did pick up a triplex in Escondido earlier this year for under $200K. I tend not to look at triplexes priced in the 4’s, but that is just me.

For Encinitas, I manage them myself. For Escondido, I have a manager. What gives me peace of mind is buying at the right price from a cash flow perspective, not the location.[/quote]

Very sound advice, Kingside. You were very fortunate to recently pick up that triplex for <$200K. I am situated in an urban "sea of WWII boxes and mid-century ranches" owned by the "mostly-over-65 set" here in South County. Many of these owners are original owners who also own nearby sfr’s, sm apt complexes, parking lots and comm’l bldgs (acquired/purchased long ago). Yes, most of these properties ARE “walking distance” from their residences. However, some of these owners are VERY old now so can no longer manage their own properties. In some cases, their children are managing them. The ones that I have spoken to extensively have stated to me that they would only invest in areas they know very well and that is their local area.

Of course these properties cash flow for them because they are either paid-off or have a very low encumbrance against them. I have no doubt that even 40 years ago, they cash-flowed. Having a mo PITI of $138 or $168 and a mo rental income of $225 to $250 is cash flow. It’s all relative.

It is difficult to find this kind of deal today.

[Author]

Posts