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CoronitaParticipant[quote=CafeMoto]I carry 300K liability 100K property damage, no uninsured, no collision or comp (theft). Costs me $290 a year (two liter bikes). Clean record, 40 yrs old…
I have health insurance, longterm disability, and 1MM in death/dismemberment. Wear full gear no matter how hot.
Not sure what more insurance is smart to add, umbrella? I am less worried about myself and more worried about covering another persons loss. Does any homeowner insurance kick in after 300K?As far as living forever, you ride a moto you take your chances. I typically ride at the crack of dawn while fewer are about, and roll back into San Diego extra carefully. Enjoy your rides mate.[/quote]
I can’t speak about motorcycle insurance, but wrto umbrella insurance. It’s there mainly to cover liability for anything in excess of your liability on each of your insurance coverage.
Your homeowner’s insurance only covers things related to your home (including liability on your property). Your auto or motorcycle insurance only covers liability related to things you do on those things…If you get umbrella, your umbrella would cover liability above the amount of your liability on each of your other types of insurance (homeowner, auto, motorcycle). So in your case, if get into an accident with your motorcycle, and someone sues you above $300k and wins, your motorcycle insurance would pay $300k, and anything above that would be covered by your umbrella.
Umbrella covers liability above your homeowners/auto/motorcycle. It extends liability on your rental properties, watercrafts, etc. In some cases, even when the event doesn’t occur with your home,auto,motorcycle. The caveat is it usually requires a minimum liability coverage for home, auto, motorcycle, and every watercraft, airplane, property you own (including rental properties). I think my minimum liability is $250k. If you don’t keep the minimum liability for each property, the umbrella won’t kick in for anything.
Umbrella was actually pretty cheap for me. I think It was $500 /year for a multi-million policy from my employer discount….You want a large umbrella liability coverage, because if someone comes along and sues you frivolously you want a big insurance company with their lawyers to make sure the other guy doesn’t win.
CoronitaParticipant[quote=FormerSanDiegan]I have a slightly different take on this. These sellers are difficult to work with, which in the long run reduces the value they will get for their property. The property has dropped out of escrow before, which I would attribute to them being idiots and making hard-line demands which scare away buyers like you. It seems to me that they think they are drawing a hard line and negotiating. But, they are just going to lose another buyer and further taint their property. TO get a max price and gain form a home sale the seller needs to be accommodating and open, at least that was my approach in the past when selling and I think we extracted max profit when selling.
Use this to your advantage. Be willing to walk away, and don’t assume that their take-it-or leave-it caps on closing costs are set in stone.
Once you get an appraisal, ask for whatever the hell you want. If they have demands that don’t line up with your needs, then move on. Their loss.[/quote]I would agree, if I actually offered a much lower price from the beginning. The problem is the OP basically offered $5k above what seller “says” was the highest offer. Since there’s a question of trust now, you have to wonder if there really is another offer out their at that price. For sanity, I’d just walk because the problem is the OP’s agent also doesn’t have OP’s best interest in mind. OP’s agent is related to the the seller. And it is unlikely this transaction is going to happen with a different agent, if you know what I mean. I’d entertain haggling with this person if this was a short sales or REO with a pretty good discount, but this isn’t the case in this transaction. Move on.
CoronitaParticipantPlatinum prices looks like they are taking off… Approaching $1150/ounce. Gold seems to have a met a ceiling. Haven’t seen above $1400/ounce.
CoronitaParticipant[quote=sdgrrl]This whole thing just sounds weird.
First they bid up the price from $299k to nothing under $375k. They will not pay closing cost.
We come back with a higher bid and asking them to pay 100% of the closing cost and they agree.
Then yesterday they tell our agent that if the home appraisal is under asking price they will only pay $5k in closing cost.
Someone on this thread made a statement that the agent sounds like he is an investor in it. Our realtor tells us the buyer and agent are brothers.
Now today, they want to meet us face to face. My guys is infuriated with all hoops we have jumped though. The only request we asked was for closing cost. He thinks its just weird.
Kurt told our agent if in any way they are persistent
or egg it on that we are thru. Completely over it.
Already looking at other properties.[/quote]
I think you’ll look back at this and be thankful you didn’t go through with it. There’s always another house.
CoronitaParticipantFor the lazy
Google It…
University of California Revenue PUT 5.000% 05/15/2048 $52,095,000 $64,364,935
Los Angeles CA Unified School District GO 5.000% 07/01/2019 $53,000,000 $59,938,760
California GO 5.000% 11/01/2020 $47,795,000 $56,212,655
California GO PUT 3.000% 12/01/2032 $52,000,000 $55,296,800
California Economic Recovery GO 5.000% 07/01/2020 $43,745,000 $49,687,758
Los Angeles CA Unified School District GO 4.750% 07/01/2032 $40,925,000 $42,781,767
California GO 5.750% 04/01/2031 $37,030,000 $42,322,328
California GO 5.000% 08/01/2019 $35,445,000 $40,231,138
California GO 5.000% 11/01/2022 $31,890,000 $39,066,526
California Department of Water Resources Power Supply Revenue 5.000% 05/01/2022 $31,560,000 $38,499,413
Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area) 1.210% 04/01/2045 $37,550,000 $37,594,685
California Economic Recovery GO 5.000% 07/01/2019 $32,330,000 $36,722,031
California GO 5.750% 04/01/2027 $31,455,000 $36,051,205
California Statewide Communities Development Authority Revenue (Sutter Health) T 0.440% 11/15/2048 $35,963,402 $35,963,402
California Infrastructure & Economic Development Bank Revenue (Bay Area Toll Bri 0.460% 07/01/2024 $35,455,000 $35,455,000
Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area) 2.000% 04/01/2034 $34,000,000 $34,961,860
California GO 5.750% 04/01/2028 $30,000,000 $34,364,400
Los Angeles CA Department of Water & Power Revenue 5.000% 12/01/2018 $30,630,000 $34,060,560
Los Angeles CA Unified School District GO 5.000% 07/01/2020 $28,975,000 $33,759,932
California GO VRDO 0.530% 04/07/2016 $33,300,000 $33,300,000
California Economic Recovery GO 5.250% 07/01/2021 $28,845,000 $32,994,642
Los Angeles CA Unified School District GO 4.500% 07/01/2023 $31,065,000 $32,617,007
California Infrastructure & Economic Development Bank Revenue (J. Paul Getty Tru 0.680% 10/01/2047 $32,470,000 $32,205,694
California GO 5.500% 04/01/2018 $29,250,000 $32,005,935
California Department of Water Resources Power Supply Revenue 5.000% 05/01/2021 $28,585,000 $31,116,488CoronitaParticipant[quote=phaster]
as for an “actual insight” get the feeling that you might have CA bond fund misgivings or perhaps even “buyer’s remorse”
but what do I know
[quote=flu]
June 18, 2016 – 12:24pm.I have the vanguard intermediate term ca fund for a few years. Its alright. I personally wouldnt do the long term one. But what do I know.
July 15, 2016 – 7:46am.
what ends up happening is one end up spending a lot more time trying to rationalize the decision
[/quote][/quote]I don’t know why you would jump to that conclusion. CA bonds serve the very purpose I bought them for. A consistent return that is higher than a 1-2% CD, which for practical purposes can be liquidated within 24 hours., no more than 5% of my total net worth, the other 5% being non-CA bonds….Which is considerably less than the 25% cash position I hold right now, and about the same as a 5% holding I have on metals. The remaining 60% is evenly split between stocks/index funds and paid of rental properties. It’s served it’s purpose these past few years just fine. Sure better than that 1%CD.
If I have any remorse, it’s selling ARM Holdings 1 week too early before the Softbank acquistion. That cost me around $40k.
[quote]
sure looks like an un-appreciated trend that indicates its only a matter of when TSHTF WRT the muni “bond” funds sector,… so I’d suggest caution as per specific OP query (i.e. What does everyone think of municipal bond funds?… Any thoughts would be appreciated.)
PS WRT “actual insight”
[/quote]Just curious, did you even both to look at the fund to see what the majority of the holdings of that fund is? Because the articles you quote and what the fund contains just seem, well never mind, you can do your own due diligence, or not, in your case.
July 26, 2016 at 7:58 PM in reply to: o.t. :braided stainless steel water line or soft copper (dishwasher) #800027CoronitaParticipant[quote=La Jolla Renter]When I go to replace our dish washer, I am going to put a pan underneath and put a direct to daylight drain in.
Too much value in the kitchen cabinets and flooring to end up with a flood.
Does anyone have the wifi moisture sensors under there sinks, dishwasher, cloths washer etc.? The ones that text you when there is a problem? They seem like a good idea.[/quote]
My alarm system has the water sensors, so I use the ones that come from my alarm company. I think they were about $30 each with no additional monitoring charges. My monthly monitoring charge over cellular link, including smart phone integration is $25/month
But I think the sensors are only good if you are home or close to home.. If you are away on an extended trip, there is no substitute for just shutting off the water supply line into your house.
CoronitaParticipant[quote=bearishgurl]Unlike you, I don’t wish to be a landlord ever again. 8.5 years was wa-a-a-ay more than enough for me. I’m not interested in owning any investment properties. I personally do the have the expertise to rehab a single family home and flip it by myself. And I am not interested in owning in any real estate with “equity partners.” H@ll, no!
Why don’t you ask other Piggs why they haven’t invested in any properties if you “perceived” they were able to but “missed the boat.” Why me?
Glad to read you love managing, repairing/making replacements and re-filling your small investment condo(s) continuously with new tenants. I’m happy for you and hope you continue to love it 10-20 years from now and are never saddled with big HOA dues hikes and special assessments.
Good Luck to you, flu. What YOU perceive are great investments are NOT great investments for everyone.[/quote]
This has nothing to do with being a landlord. This has everything to do with making wild as guesses from a bunch of low res mls pictures and self proclaiming to be a subject matter expert. Would you quit redirecting this to something else? If you have no interest in being a landlord and no interest in real estate, then why the fuck are you still here commenting about real estate and houses and property and etc etc etc, with totally wrong, misleading, inaccurate statements?
I mean, for some that claims to have a life on a previous thread, it sure seems weird you would still be on a website about a subject matter you don’t care about….You are contradicting yourself.
CoronitaParticipantJust a sinole question BG. Have you seen the house in person to be commenting in excruciating details about that house?
Out of all the people who have commented on this thread, name one other person that spoke with authority about the specifics of this house. Answer: no one but you. Because no one besides the OP has seen this house. Do you really think your “astute” observations from looking at some pretty crappy mls pictures are better than the OP who’s physically seen that house? Really?
I mean, you don’t think perhaps this is ridiculous?
CoronitaParticipant[quote=bearishgurl]For whatever reason, flu, your animosity and bitterness (currently towards me) has been shining on high beam around here in recent weeks. I thinks its well past time that you block me so you aren’t bothered by my posts … especially during the business day when you are supposedly “working.”[/quote]
Its not animosity against you per say, its just not only are your comments not helpful they are negatively productive.its ridiculous, you keep posting about how you are an expert at this an expert at that, and every fucking thread on this website. When you know NOTHING.
And regarding my hours. I don’t have a hourly job like you do. So long as I get my work done by my deadline or more, no one cares. I don’t even need to work from the office. Its called being an exempt salaried employee with benefits , something you also probably know nothing about.
Instead.of trying to pretend to be an expert behind that keyboard, why don’t you actually go out their and actually try to buy a property and come back with something objective, like a list of pros and cons about a property. Its really easy to be completely negative and piss all over something because that doesn’t require any intelligence. But why don’t you challenge yourself to find a fixer upper that would work. I have yet to see one case of any mental exercise on your part to ever turn any house into an opportunity. All you do is piss all over the place so you don’t need to think, which probably explains why you missed the boat all the time.
CoronitaParticipant[quote=bearishgurl]sdgrrl, I agree with Rich about examining how long you want to actually own the property but for a different reason. If you guys are actually purchasing VA, the you could have a 100% loan. You say the sellers are refusing to pay any of your closing costs and your VA Funding Fee at 2% will be a hefty $7700 (if you pay $385K for the house). With your other closing costs and possible loan costs added to the funding fee, your closing costs could come to $12K or more which would mean that you will already “upside down” by ~$12K at the close of escrow (COE).
That’s not a good (financial) place to be in that area if you’re not planning on holding the property for at least 10 years, IMO. As you can see from the lower prices up there, Lakeside does not hold its value or appreciate at the same rates as closer-in (incorporated) communities in SD County do.
A few observations:
The 2011 “street view” pic reveals the following. There are no sidewalks or storm drains on this street (in an unincorporated area). The home is lower than the street. The crawlspace of this home could have been flooded multiple times in heavy rains over the years as there doesn’t appear to be any french drains installed in the front or side of the lot to drain off the backyard, which is lower still. The home and lot were likely in gross disrepair when the current seller/flipper purchased it. The June 2011 street view pic reveals a 20+ foot industrial-type trailer (as ucodegen mentioned) parked on the property in front of the house. A previous owner (before the flipper/seller) could have purchased it for almost nothing from DRMO or a local GSA auction.
http://www.governmentauctiondatabase.com/locations/CA/2489
I feel they may have acquired it to use to dispose of wild, overgrown landscaping and termite eaten and dry-rotted/moldy construction debris (due to previous flooding) as renting a “roll-on” can be prohibitively expensive. (The flipper/seller could have purchased the property with the trailer still there.) When the previous owner was gutting it and found the extent of the damage, they decided they didn’t (for whatever reason) want to put the money into it because in 2011/12, the market had literally gone to sh!t out there. They hung onto the property until they could unload it on a professional flipper in late 2015 and recover their money out of it (and likely more). The owner who sold to the flipper was likely a longtime owner or even an “heir” who very well may have borrowed money on it during the loose-lending era of the aughts. (Note: I have not viewed the public record chain-of-title on this property.)
The lot is essentially sloping down from the street to the house, with a third, lower tier as the backyard. The parcel may slope a little further downhill from the backyard but we can’t see it from the pics provided. The driveway in one place, in front of a window has an offset crack (we can’t tell exactly by how much). This nonetheless indicates soil movement because the concrete is so old that it is likely a tree was never growing there. The driveway was not repaired/replaced by the flipper/seller. There is another 1-2 feet of dirt between the driveway and a short retaining wall. The house is 1-2 feet lower than the retaining wall and was completely re-stuccoed, so we can’t tell if that crack (from moving soil over the years) has affected the short retaining wall (which could have been easily repaired) or penetrated the actual stemwall of the house.
In addition, its former roof (in 2011) was decrepit and probably leaked in one or more places. However the walls inside (possibly originally plaster) were likely replaced with drywall by the flipper.
If your offer is accepted and you open escrow, I would get a highly-qualified home inspector (or better yet, a civil engineer) out there pronto and go through the crawlspace with a high beam flashlight and a fine-toothed comb and whatever other meters/tools they use to look for dryrot in the subfloor and evidence of seepage (from cracks) and mold along the stemwalls.
A more expedient (and cheaper) way to get the info you need on whether to proceed with this transaction would be to insist on seeing any reports on that property paid for by previous buyer-principals who walked. You need to make this request immediately after your offer is accepted. And reject the reports promptly, if necessary, within your contingency period in order to get your earnest money back.
Good Luck and be mindful of your dates! I’m not sure properties in this particular area are for first-timers … especially those who are putting little money down and have low to moderate incomes and minor children to support (not saying that’s you, btw, sdgrrl).[/quote]
How the hell did you become an real estate expert (LETDLITA) in Lakeside and with this particular house simply by looking at a bunch pictures in an MLS listing???? Do you realize how ridiculous this is?????
Its like the last time you did this with the barrister(?) House in mira Mesa, in which your comments on that house, again , only based on the pictures you saw in an mls listing and from Google maps, was totally off too.
CoronitaParticipantThe market is crazy. It’s yo-yo- ing up and down today….Make up your mind, damnit.
July 25, 2016 at 2:56 PM in reply to: o.t. :braided stainless steel water line or soft copper (dishwasher) #799972CoronitaParticipant[quote=ucodegen][quote=flu]Ive never had a problem with my dishwasher hose leaking. I just use a rubber hose, its not even braided. Its been like this for 18years. I replaced the dishwasher myself when I first moved in, but never replaced the original hose from the previous owner. I run my dishwasher every 3rd day so I’m not sure if using it more frequently or less frequently is better/worse for the hoses.[/quote]
I think you got a bit lucky. They usually start decaying from the inside (outside would look fine). The hot water is the one that tends to go first. (the decay is kind of like what happens with auto hoses)[quote=flu]The leaks I have had were with water shutoff valves all over the house…The old style screw-in type shutoff valves are notorious for leaking if you don’t use them most of the time, and seem to fail in the rare cases you actually need to use them to replace a fixture.
[/quote]
I never had problems with the really old screw-in types (all brass). The problems I have had are with the nylon stem screw-ins. The nylon stems like to bond with the valve body. The stems are not rigid enough to push/torque past any calcium buildup in the valve. I do like the ball valves (since all you really need is on-off), provided that the ball and stem are stainless (seats tend to be teflon). As things sometimes go, I think some manufacturers are going to try nylon for the ball-cock valves too…[quote=flu]
Basically, most valves are compression type fittings that sit over regular copper pipes, so it’s a matter of unscrewing the lock nut, and than screwing in the new valve tight. You’ll know if you screwed up and didn’t install it correctly, because the thing will either fall right off or leak massively.
[/quote]
One warning here. I have noticed that some of the current valves coming out of some of the big-box hardware stores have incorrect threads on their compression fittings (non-standard threads). Brasscraft seems to be one of them. Don’t force the threads if they don’t tighten right. They may be slightly off (suspect Chinese mfr and differences between metric and SAE)
[quote=flu]
Also , since my washer and dryer on upstairs, I’ve gotten into a habit of shutting off the water lines when I’m not using the washer, in addition having large drip tray that empties into a built drain. also i have a water sensor that is hooked up to my alarm system.
[/quote]
This is a very good idea. One of the problems though is that many houses are not built with a drain in the floor of the laundry room. The ’60s house I grew up in had one.. but I have seen many since that don’t have that drain.
[quote=flu]
Also, if you don’t already have one, I’d get a shutoff valve installed on the water line running just into your house. If you have already have one, I’d make sure that it works.[/quote]I would recommend putting it right before the pressure regulator, if your house has one. I makes servicing the regulator easier too
[quote=flu] Unfortunately, that valve is also currently broken and doesnt shutoff (surprise surprise)…and i haven’t gotten around to replacing it. It’s a little more complicated since I think mine needs to be cut out and welded.[/quote]They are usually not welded, they are soldered. I would recommend using a MAP gas torch instead of propane though. On the 3/4 and above fittings, you need to dump heat into them to get the solder to melt – particularly if any part is near an even larger piece of copper or brass (both transfer heat away very well).Let me add a question here.. are you talking about the street shutoff not working or the shutoff valve to the house not working?[/quote]
Street shutoff works fine. The one to the house after thr street shutoff is not.
Yes I meant soldered not welded.
CoronitaParticipantFor whatever reasons, nasdaq seems to be holding it’s weight… Semi sector looks like it’s moving up, and if semis are a leading indicator, that might be good news for the tech sector in general, since semi’s have been trashed for the past year.
I’ve added to my AMD and MU position, and also bought (unrelated ) GE after watching for some time.
Since my entry point on AMD $2ish/share, and it sits at $6.20 right now, why not double down, lol…I’m hoping there’s a bunch of shorts that were expecting a dismal AMD quarter, that are now going to panic, and we’ll get a nice big short squeeze up this week.
Still ticked off I missed that big gain on ARMH just by selling a week earlier…Stupid.
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