[Coronita]

[quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Your order should have executed today 🙂

$50/share today.

[Coronita]

[quote=enron_by_the_sea]- you get k-1 with MLPs. Depending on nature of their business, it can be some times mind numbing experience
– hopefully you don’t have them in IRA. There is a rule (UBTI) that comes into play if you do.
– the price of units depends on distribution and distribution growth. Few years back, it was super easy to buy MLP with 8%+ distribution that grew over time. Now not so easy! A quick glance at the prospectus suggests that this will start at 3% ish region. So where it goes from here is entirely depends on what the growth plans are and how greedy the general parter (Valero, who gets paid first) is. I am too lazy to check it out.

– the quality of business matters too. I think pipeline MLPs are best. However recently there has been an explosion oh junk businesses posing as MLPs. The market is simply too hot.

If I were in your shoes, I would sell it but probably not on jan 1st. Maybe see how high the market takes it… Your k-1 for 2013 and 2014 is coming no matter what![/quote]

Thanks for the feedback… Great, more things that complicate my taxes… Oh well. Guess I’ll wait…

Sort of regret not adding more VLO mid december instead of this turd….

[Coronita]

[quote=SK in CV][quote=flu][quote=The-Shoveler]Maybe its just a coincidence but I noticed the SD home price and qcom stock chart look similar LOL.[/quote]

I think Marvel (MRVL) is a better buy frankly at these prices. Well it was, at least right after those patent lawsuits from CMU when it was around $11/share…

Looks like KKR looking to take a 5% stake in the company recently.

They also crushed Q4 earnings estimates yesterday..

But what do I know…[/quote]

Funny you mention that. I looked long and hard at earnings play on MRVL. Just couldn’t find any juice in it, to either side. Surprisingly low vol. Even with the big beat, didn’t crash through a single standard deviation.[/quote]

Bump… It’s up…. Not a lot.. But close to 52 week high 🙂

[Coronita]

[quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Thanks… I’ll sell it the first week of next year. Last thing I need is more capital gains this year 🙁

[Coronita]

[quote=SK in CV]The original lease term expired. More likely than not, there’s a clause that says that at the end of the original lease term, unless terminated by either party, it extends on a month-to-month basis on the same terms and conditions. So if you were responsible during the original lease term, you’re still responsible.[/quote]

He can have a new term at the next month 🙂 But imho not worth the hassle over a dryer.

[Coronita]

Here you go… Ok, so you have to buy a dryer at the wrong time of the year with no sales… $300-400….

http://www.homedepot.com/b/Appliances-Washers-Dryers-Dryers-Electric-Dryers/N-5yc1vZc3q1

http://www.sears.com/kenmore-6.5-cu-ft-electric-dryer-white/p-02661402000P?prdNo=1&blockNo=1&blockType=G1

or….if gas…

http://www.homedepot.com/b/Appliances-Washers-Dryers-Dryers-Gas-Dryers/N-5yc1vZc3o3

http://www.sears.com/kenmore-6.5-cu-ft-gas-dryer-white/p-02671402000P?prdNo=1&blockNo=1&blockType=G1

[Coronita]

Do you like your current tenant or do you not like your current tenant? 🙂

Assuming it’s a SFH….I don’t lease a SFH with washer/dryer, even though there is one… In my lease I stipulate tenant is responsible for furnishing washer/dryer. I provide one out of courtesy but if it breaks, that tenant needs to use his own…

That said, a basic dryer is like $200-300… Probably not worth arguing over, especially if the tenant is “nice”. I’d just replace it and get an extended warranty on it to cover your future repair costs (though a very basic washer/dryer shouldn’t really be proned to failure…Just make sure you get a no frills dryer, preferably one with NO digital display/buttons, but instead one that has only a manual knob, and one with the fewest cycles/speeds/features)….

Depending on the rental demand, if you really wanted to recoup the cost, you could probably jack up the rent next year anyway to cover the cost.

For next tenant lease, I would modify your lease agreement.

For an attached property, I would provide a washer/dryer, since imho it’s just different when it comes to a 1/2/3 condo/townhome…..

[Coronita]

I wonder if I can turn this into an enterprise…If I buy a bunch of furnished vans, and park them on a Qualcomm or other tech company campus in Sorrento Valley, could I lease them out at $500/month? Still cheaper than renting or owning in MM….

[Coronita]

[quote=AN][quote=CA renter]AN,

No, we do have the freedom, but if you don’t want to make the sacrifices to make it happen, don’t blame anyone else.

Regarding that “second income,” all too often, the second income earner is working at a loss, especially if they are working for low wages. After taxes, clothing expenses, higher food expenses (like it or not, when both people work, they’re more likely to eat out), higher transportation costs (gas, insurance, accelerated maintenance, accelerated car purchases, etc.), childcare expenses, etc…so many people are actually working for negative earnings, especially among those who are working for low wages to begin with.

And you need to re-check those numbers on private vs public schools. Most private schools that are equal to or better than comparable public schools cost more, not less. The reason public schools appear to cost more per capita is because they educate, feed, and care for the most expensive students (special education/learning disabled, socially/economically disadvantaged, ESL, etc.) and have far more resources than private schools do, especially for these students. Public schools also have more qualified teachers, on average, than private schools.

Good schools are good because of the parents whose children attend those schools. The parents have the greatest impact on how students (and schools) perform. If you want your kids to do well, nurture their curiosity and interests, read to them, take them to museums, talk to them about a variety of topics, etc. That is the #1 way to make a difference in your child’s life…and it’s all free, or nearly so.

Oh, and get them the hell away from those electronic babysitters![/quote]Who said I’m not making sacrifices? However, that’s besides the point. It doesn’t matter what I do/sacrifice, I say it like it is. I don’t see our system as having very many choices. I’m fully aware of your persuasion with the teachers union, so, I’m certain this conversation will go no where. Just stating it like how I see it, as a parent.

I would say the feminist movement will disagree with your assessment of second earner greatly. I’ll leave that at that.

I’ve rechecked my numbers many times. Public schools in SDUSD are spending about $12-13k/student. There are a lot of private schools that are charging <$10k. Good Montessori schools that feed into LJCD/Bishops/etc. are charging $10k/student. So, yes it's much cheaper. Here's a kicker, even with less $ per student, the Montessori I'm referring to have a class size of 12 to 1 for 1-3rd grade and 20 to 1 there after. That's well bellow the class size of SDUSD schools. I'm hearing class sizes of 30-35 to 1 student to teacher ratio. It doesn't matter how good you are, if you have to deal w/ 2x as many students, you'll get much lower quality. I haven't even touched on the quality of the education. The kids in the montessori are taught Mandarin and Spanish from the Preschool level and continue through 6th grade. Then there are art/band/science/etc. So yeah, looking at the quality of the schools in SDUSD and then look at the many private schools out there, I don't buy that public schools are cheaper and better. If you truly believe that's the case, why not open up the voucher system and lets see what the parents/students will do. There's nothing to be afraid of if the public schools are really as good as you say it is.[/quote] Happy holidays an.

[Coronita]

[quote=SK in CV][quote=flu]
If at all, it means its major suckville for folks trying to buy in those areas affordable housing or cash flow residentials because now you have one more 800lb gorilla to deal with[/quote]

I think most of your comment is spot on, though I’m not sure if they were active in MM. It doesn’t appear that they have any homes for rent there.

But with regards to the quoted part, they pretty much finished buying in most markets for much of the last year. They probably did drive prices up in the handful of markets they entered. And they only attacked very specific markets. While they were buying, they probably did push a lot of other buyers out. But I suspect that’s over with. So it should be past tense. Buyers did have an 800 lb gorilla to deal with. That gorilla is sleeping and the market is flattening out. Though it wouldn’t surprise me if they start marketing the properties that are not security for this bond offering in areas that experienced some pretty decent appreciation.[/quote]

I meant past tense on BS’s buying spree. But I agree. The point is they are sitting in a pile of dirt cheap properties that apparently cash flows for them.

I am more curious if they are going to come up with some more creative schemes to offer rent to own plans for subprime people that can’t own otherwise. Seems like if we are expecting a flat resale market in those areas, it would be a way to offer ownership to those who cant under traditional ways and increase profits at the same time.

[Coronita]

[quote=livinincali][quote=flu]I don’t see what the problem here is. Blackstone doesn’t seem to be cashing out and selling their portfolio. They were active in high distress areas and bought distressed homes primarily sfh around 200k or lower. If it all, it proves.
[/quote]

They aren’t cashing out in terms of selling the properties on the open market. They are cashing out in the sense that they are transferring their personal ownership to investors buying the bonds. Blackstone no longer owns the properties, the bond holders own the properties. The bond asset prices are priced at the newly appreciated homes belonging to the portfolio. It’s highly likely Blackstone is selling the crappy part of the 41K portfolio to a bunch of unsuspecting investors because the rental market is hot and appreciation is good right now. Just like the banks we’re selling garbage MBS, the rental market investors are doing the same thing.

Will this effect the price of your San Diego home? Probably not. The portfolio probably contains a bunch of junky properties in Stockton, Phoenix, Las Vegas and some Miami condos for good measure. The point is that Blackstone is betting the rate of appreciation in rents and house prices is going to slow down and they are going to unload while the getting is good.[/quote]

Well they aren’t selling everything. Just the stuff that isnt good 🙂

I wasn’t sure what you meant about not touching that “investment”. I thought you were referring to properties. But if you were referring to their bonds…well can’t really disagree with you there. I won’t touch it.

[Coronita]

I don’t see what the problem here is. Blackstone doesn’t seem to be cashing out and selling their portfolio. They were active in high distress areas and bought distressed homes primarily sfh around 200k or lower. If it all, it proves.

1. Shadow inventory was a myth.

2. Institutions were active in the residential markets not just as flippers but as landlords. But we already knew this. Some of us suspected blackstone was active in MM buying inventory in 2010-2011.

If at all, it means its major suckville for folks trying to buy in those areas affordable housing or cash flow residentials because now you have one more 800lb gorilla to deal with

[Coronita]

.

[Coronita]

[quote=SK in CV][quote=paramount][quote=svelte].

But churches collect money tax free while using public services such as streets and infrastructure.

[/quote]

That’s a myth, churches do pay taxes.[/quote]

In some places they pay property taxes. They don’t pay income taxes. But worse than that, not only are their profits (or more appropriately, collections over expenses) tax free, contributions are deductible, so it’s a double tax bonus. Estimates range as high as $71 billion dollars a year in tax subsidies to churches.[/quote]

Note to self. Start the church of flu.

[Coronita]

[quote=flu][quote=AN][quote=flu][quote=AN]DOW’s up 1.14%, NASDAQ’s up 0.43%, and S&P’s up 0.99%. I’ll take that. Now, lets see if it can continue through the rest of the year at this rate :-D.[/quote]

You mean Dow up 1.84% and Nasdaq up 1.15% and S&P500 up 1.46%….

:)[/quote]Or better yet, UDOW up 4.91%, UPRO up 5.19%, and TQQQ up 3.45%. :-D[/quote]

You are a brave soul my friend… I’m done with the “ultra-XXX ETF’s”[/quote]

You win AN… Good move on your part….

[Author]

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