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DataAgent
ParticipantWe bought out current home in 2007. Interest rates were high for the time so we went with a 3/1 ARM. 3 years after we bought, interest rates were much lower. A few years later, we locked into a much lower rate. Although we are not gamblers, sometime it pays to take a little risk.
A few months ago (same house), we re-fi’d into a 10 year IO loan with cash out @ 2.6% rate. It’s hard to qualify for low-rate IO loans but we met all the requirements. We now have 9.5 years with a decent rate and a very low mortgage payment. A lot can happen in 9.5 years so we have lots of options.
ParticipantWe have 2 non-Tesla EVs and an over-sized rooftop solar array. Our solar panels power our house and both of our cars. We use net-metering and pay no monthly electric bills. We net-up in November. In November of 2020, out total electric bill for the entire year of 2020 and late 2019 was $50. I’m satisfied with a $50 annual electric bill. However, there are members of my local EV Club who spend lots of time trying to get their annual electric bill as close to $0 as possible. Their Zoom presentations bore me to log-off early.
ParticipantMy wife and I are now almost 70 years old. Back around 2018, I looked all over the west coast for a cheaper place to retire. When we discovered the strong influence of the Mormon church on the St George area, St George was was quickly removed from our list. My wife and I are very anti-organized religion. When we learned that about 75% of the permanent residents were Mormon, St George didn’t make the first cut.
My wife and I have been married for over 45 years. We grew up over 2000 miles apart. We met in the US Air Force. From Day 1, we were planning our retirement. Our families were very poor and gave us nothing to start with. So money was our biggest initial concern. We got very lucky in the business world and we always loved San Diego. Once we made it here, we’re not leaving. We hate the high cost of living in San Diego but we’re staying put. No other major west coast city comes close to the amenities and personality of San Diego.
As an ex-CPA, our current assets should carry us well into our 90s. I really hate blowing our money on the CA economy but there’s no place like home.
ParticipantI have a standing order with several independent contractors for remodeling projects in my house. I’ll pay market price for any of the projects. No one has called me. My projects may be too small ie. tile 2 bathrooms. All of my contractors want large projects in La Jolla.
Participant“Saving money is about the interest rate, not the payment amount. The OP is confusing the two.”
You’re wrong. I could have paid a huge monthly payment with a very low interest rate. I’ll take a low-interest rate mortgage and a low IO payment any day. Cash is king. Why pay a huge principal payment when you don’t need to?
ParticipantI just refi’d into a Jumbo 2.875% 10yr ARM 0pts with max cashout at Quicken Loans. The payments are Interest-Only. Since I’m a good Schwab customer, Schwab subsidized the rate and paid most of my closing costs.
My first mortgage was a VA 30yr fixed assumable @ 8.5% and no down in 1978. We thought we got a bargain because mortgage rates sky-rocketed to the low-teens a few years later. Mortgage rates stayed in the teens for most of the ’80s.
Can today’s mortgage rates go lower? I guess it depends on how high the unemployment rate gets.
ParticipantTrump will be re-elected. You can bank on it.
ParticipantNever short a heavily-shorted stock. TSLA is about 17% short. Compared to less than 5% short for NFLX. One unexpected tweet from Musk and your butt will pucker.
ParticipantLa Mesa’s Thursday evening car shows have become very popular. Last time I went, I didn’t bring a car but there were some nice cars on display. Nice restaurants too.
Participant[quote=scaredyclassic]Well, electric cars on balance wont save the planet cause the electricity and the cars and the battery are dirty to produce.
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I charge my EV using the excess electricity my solar panels produce. Can’t get much cleaner electricity than that.
August 27, 2018 at 9:41 PM in reply to: Investing in multi-family – Looking for a mentor / advice. #810781Participant[quote=FlyerInHi]Can we not build a big pipeline to bring water from the Mississippi or Canada? Something on a Hoover dam scale, but proportionately bigger in relation to the size of the current economy.
[/quote]The third straw cost almost $1B for a 3 mile pipeline. Las Vegas is about 1500 miles from the Mississippi River. Forget the cost, who would have the authority to build such a pipeline across 4 states?
Thinking big, why not build a pipeline to the CA central coast and grab all the Pacific Ocean water you could get? Just add a couple of desal plants and NV would never have to worry about water again.
August 25, 2018 at 11:15 PM in reply to: Investing in multi-family – Looking for a mentor / advice. #810776ParticipantI like Las Vegas too. It has huge growth potential.
However, the water situation in Las Vegas seems quite bleak. Millions of people (and growing) depend on Lake Mead for water. The ‘third straw’ could literally drain Lake Mead like a bathtub. How long till that bathtub empties?
Participant[quote=Myriad]Trump – Putin 2020[/quote]
If he runs, Trump is unstoppable in 2020. Otherwise, we will get our first female president… Ivanka.
Participant[quote=flu]now is a great excuse to get solar and an electric car like an i8
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A 2-3 yr old i8 is a steal right now.
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