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January 20, 2015 at 2:53 PM in reply to: I really regret not buying any netflix shares when they were cheap…. #782197
spdrun
ParticipantWait till every network starts offering streaming. They have sort of a monopoly … for now. But nothing they do is unique.
ParticipantSecond the recommendation for State Farm, though I used a different agency.
As far as heating system, do things like under-floor heat or wall heaters suffice under law?
ParticipantA more balanced take from WaPo, basically saying more of the same this year:
Even if you’re planning on holding, make sure to get a good price. There are still people who bought in 2006 who are underwater.
ParticipantI’d buy a 2/2 condo for low $200k’s with $50k down in your position.
(a) You’ll still have $50-60k cash in the bank for other investments, repairs or fun.
(b) HOA is only $200-300/mo (equivalent to $40-50k of loan) and covers a lot of things that you’d have to pay for yourself in a house. Pool maintenance, exterior maintenance/roof, water bill, etc.
(c) You can use the leftover cash to buy another rental to help pay the bills. Not necessarily in San Diego. But if prices do drop (people here will tell you they won’t), you’ll be ready to jump on something in San Diego.
(d) Condos are nice — the HOA takes care it to some extent if you (say) decide to travel for a month or two. No hiring landscapers, etc.ParticipantInvest in youself first. Give income, not assets to society.
ParticipantI’d rather have a good ‘ol 6-speed Miata with under 200 whorespower, but light, unsafe, and fun to drive. Not a ‘pooter on wheels.
January 17, 2015 at 7:10 PM in reply to: OT:Be careful what you wish for… 28% Capital Gains Tax Proposal #782120ParticipantTop rate used to be 28% prior to 1990 or so. People still built wealth. Good luck to him getting Congress to approve it, though. Should be a gridlocked two years considering the bitterness on both sides.
The funnier part is the $500 tax credit for to encourage women to work. Does anyone really think that $500 per year is going to make the difference between staying home and working for anyone, considering that not working means forgoing at least $20k per year? And what’s wrong with one-working-parent families anyway?
ParticipantI’ve heard of people transferring balances between 0% cards for years so they never end up paying 19%. 🙂
There’s also the subprime auto loan industry that loans for used cars at inflated prices at exorbitant rates.
ParticipantDon’t be so smug. Most continental Europeans wouldn’t know where to start looking outside of major cities, just as most Americans wouldn’t think to buy in Karlsruhe, Tarragona, or Lodz. And being more conservative than Americans financially, they’re not interested in managing from 3000 miles away.
Foreign buyers are about 7% of the total US market. Continental Europe is maybe 25% of this market. We’re talking about less than 2% of the national market, concentrated in specific, more desirable areas, not uniformly spread.
There are REITs as well, but the kind of property I’m interested in now (houses in working-class parts of NJ and PA burbs) is unlikely to be snapped up by REITards. Or isn’t currently being, anyway.
Looking at local Homepath, sheriff, and auction listings, REOs have doubled or trebled in many areas over the past 12 months.
Thanks, Governor Christie: http://www.northjersey.com/news/business/foreclosure-activity-up-71-in-nj-realtytrac-says-1.1196153
This being said, I’m getting a NYS sales license and have a broker I can hang it with. So if the flood of hungry Euro-peons does materialize in NYC, I can take some advantage of it as well. Nice thing is that, salespeople are essentially freelance, so this needn’t be a 50-60 hr per week game.
ParticipantInterest rates: no idea, but betting on same or higher since they can’t get much lower.
Economy: slow growth in sum, but not necessarily even by time or area.
Property: Lots of foreclosed properties to still be worked through in the East Coast judicial states, which is what matters right now, less in states where processing is faster. Not a huge change in values since lending standards are still tighter than a few years ago, despite recent changes.ParticipantWell, you used the term originally, not I. Seems like we’re just on different sides. You cheer when there are positive data. I’m cheering mediocrity because it gives me more time to accomplish what I want.
Only time will tell which forces will prevail in a year or two. I’m willing to work, just in my own way vs in a more structured way. Same as you — you’ve admitted as much in the past. Disruption provides better opportunities for this kind of work.
More assets to buy at a reasonable price and charge for use of. More opportunities for contract work (less commitment, more flexible schedule) since companies are averse to long-term hiring.
There’s no virtue in work for work’s sake unless you happen to be a masochist. There’s only virtue in work done for the good of the world. But that kind of work can be done pro bono if one doesn’t have to worry about income stream.
ParticipantFlyerInHI: Correct. And I’m not ashamed of what I want. Better than thinking there’s some moral virtue in coming to work at 8 am, staying until 7 pm and checking the electronic leash every hour at home. That’s what American white-collar workers have been driven to, and I reject that ideal.
I’m rooting and looking out for myself first. Right now, I’m rooting for a slowdown this year or next. If you want to expand your rental business, you should be shamelessly rooting for one as well.
Most people fear a slowdown. The smart ones cheer for one and see it as merely part of a cycle — an opportunity to get theirs and buy assets cheaper.
ParticipantIn this instance, I’m rooting for whatever creates the best investment conditions for me, not for any one country. Freely admitted. I consider myself a citizen of the world, though not always a good one.
ParticipantThe last few blessed corrections (2007-8, 2000-1, 1991, 1987) have been right around election time 🙂
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