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UCGal
ParticipantIf you’ve got assets that are tax deferred – it makes sense to consider tax implications. Especially if you’re making large financial moves.
Here’s a real world example. I have an inherited IRA – I’ve looked at pulling the money out to pay down my mortgage. But I’d have to pay income taxes on it. For now – it’s better to take the minimum RMD each year and let the money stay invested in a tax benefited way. If fed income tax rates were to go up for middle income folks to a huge rate (say 40% or such), I’d pull money out now, pay the current (mid 20%) tax rate, and use the money to pay down the house. But it doesn’t make sense given the current tax rate.
I think most Piggs, even the poorer ones, are analytical enough to “do the math” when making large financial moves.
Some things can’t be timed for tax purposes… Wealthy people die when they die, not on a tax schedule – it’s currently a GREAT year for wealthy relatives to die. (Too bad I don’t have any.) 2010 has no estate tax. 100% of the estate is excluded. It was a $3.5M exclusion last year It goes back to a $1M exclusion next year. (Taxes are paid at a pretty stiff rate on the value of the estate above the exclusion.)
I assume most piggs will reallocate, reevaluate if there are significant tax changes.
ParticipantIf you’ve got assets that are tax deferred – it makes sense to consider tax implications. Especially if you’re making large financial moves.
Here’s a real world example. I have an inherited IRA – I’ve looked at pulling the money out to pay down my mortgage. But I’d have to pay income taxes on it. For now – it’s better to take the minimum RMD each year and let the money stay invested in a tax benefited way. If fed income tax rates were to go up for middle income folks to a huge rate (say 40% or such), I’d pull money out now, pay the current (mid 20%) tax rate, and use the money to pay down the house. But it doesn’t make sense given the current tax rate.
I think most Piggs, even the poorer ones, are analytical enough to “do the math” when making large financial moves.
Some things can’t be timed for tax purposes… Wealthy people die when they die, not on a tax schedule – it’s currently a GREAT year for wealthy relatives to die. (Too bad I don’t have any.) 2010 has no estate tax. 100% of the estate is excluded. It was a $3.5M exclusion last year It goes back to a $1M exclusion next year. (Taxes are paid at a pretty stiff rate on the value of the estate above the exclusion.)
I assume most piggs will reallocate, reevaluate if there are significant tax changes.
Participant[quote=mixxalot]Finding REOs
How would I go about finding REO properties to buy from the banks? I am not a cash buyer and would probably look at financing with FHA or similar program.[/quote]
If you just want to see what’s out there (not necessarily specific units – but you can figure out what’s in the pipeline)… foreclosureradar.com lets you do a search by zip… you can get pretty specific.
I plugged in 92107 (OB/Loma Portal) selected for “bank owned” and came up with a pretty long list. Looking at that map – and the actives on sdlookup – you can match some of them.
If you want to see what’s coming – include the “auction” properties – those are the ones that have received notice of trustee sale – but haven’t been foreclosed on yet.
Participant[quote=mixxalot]Finding REOs
How would I go about finding REO properties to buy from the banks? I am not a cash buyer and would probably look at financing with FHA or similar program.[/quote]
If you just want to see what’s out there (not necessarily specific units – but you can figure out what’s in the pipeline)… foreclosureradar.com lets you do a search by zip… you can get pretty specific.
I plugged in 92107 (OB/Loma Portal) selected for “bank owned” and came up with a pretty long list. Looking at that map – and the actives on sdlookup – you can match some of them.
If you want to see what’s coming – include the “auction” properties – those are the ones that have received notice of trustee sale – but haven’t been foreclosed on yet.
Participant[quote=mixxalot]Finding REOs
How would I go about finding REO properties to buy from the banks? I am not a cash buyer and would probably look at financing with FHA or similar program.[/quote]
If you just want to see what’s out there (not necessarily specific units – but you can figure out what’s in the pipeline)… foreclosureradar.com lets you do a search by zip… you can get pretty specific.
I plugged in 92107 (OB/Loma Portal) selected for “bank owned” and came up with a pretty long list. Looking at that map – and the actives on sdlookup – you can match some of them.
If you want to see what’s coming – include the “auction” properties – those are the ones that have received notice of trustee sale – but haven’t been foreclosed on yet.
Participant[quote=mixxalot]Finding REOs
How would I go about finding REO properties to buy from the banks? I am not a cash buyer and would probably look at financing with FHA or similar program.[/quote]
If you just want to see what’s out there (not necessarily specific units – but you can figure out what’s in the pipeline)… foreclosureradar.com lets you do a search by zip… you can get pretty specific.
I plugged in 92107 (OB/Loma Portal) selected for “bank owned” and came up with a pretty long list. Looking at that map – and the actives on sdlookup – you can match some of them.
If you want to see what’s coming – include the “auction” properties – those are the ones that have received notice of trustee sale – but haven’t been foreclosed on yet.
Participant[quote=mixxalot]Finding REOs
How would I go about finding REO properties to buy from the banks? I am not a cash buyer and would probably look at financing with FHA or similar program.[/quote]
If you just want to see what’s out there (not necessarily specific units – but you can figure out what’s in the pipeline)… foreclosureradar.com lets you do a search by zip… you can get pretty specific.
I plugged in 92107 (OB/Loma Portal) selected for “bank owned” and came up with a pretty long list. Looking at that map – and the actives on sdlookup – you can match some of them.
If you want to see what’s coming – include the “auction” properties – those are the ones that have received notice of trustee sale – but haven’t been foreclosed on yet.
ParticipantMy brother lived for 20 years in that part of the world. In Denver, Boulder, Arvada, and Ft. Collins. I spent a good part of the fall/winter of 2007 shuttling back and forth to Denver and Ft. Collins when my brother was sick.
Good things:
– It’s gorgeous! Undeniably, take your breathe away gorgeous. The mountains are spectacular.– It’s less expensive. A lot less expensive. My brother owned 3 houses in 20 years – all were about 1/3 of what you’d pay in San Diego.
– You’re right, people are very fit and active. My brother was a rock climber and cyclist – and that was pretty typical. Everyone there hikes, bikes, skies, etc.
– Good colleges and hospitals. I have to give serious props to University of Colorado Hospital in Aurora. I was super impressed with the medical care my brother received in his last weeks.
Things that might not be as good – depending on your viewpoint.
– People tend to be more overtly religious – more so than in San Diego. This is more pronounced as you get down towards Colorado Springs. If you like churchy folks -then this is not an issue. For some folks this might be an issue.
– The weather… In the fall and spring it is entirely unpredictable. 100 degrees and sunny – 2 hours later it’s snowing. I’ve seen this first hand. There are also more twisters. A friend that lives near Denver Int’l had a twister and hail damage total her car and destroy her siding and roof 2 weeks ago. She has insurance – but it’s unsettling.
– No beach. For me, that’s a tough one to get past. But if you don’t go to the beach much then it’s a not issue.
ParticipantMy brother lived for 20 years in that part of the world. In Denver, Boulder, Arvada, and Ft. Collins. I spent a good part of the fall/winter of 2007 shuttling back and forth to Denver and Ft. Collins when my brother was sick.
Good things:
– It’s gorgeous! Undeniably, take your breathe away gorgeous. The mountains are spectacular.– It’s less expensive. A lot less expensive. My brother owned 3 houses in 20 years – all were about 1/3 of what you’d pay in San Diego.
– You’re right, people are very fit and active. My brother was a rock climber and cyclist – and that was pretty typical. Everyone there hikes, bikes, skies, etc.
– Good colleges and hospitals. I have to give serious props to University of Colorado Hospital in Aurora. I was super impressed with the medical care my brother received in his last weeks.
Things that might not be as good – depending on your viewpoint.
– People tend to be more overtly religious – more so than in San Diego. This is more pronounced as you get down towards Colorado Springs. If you like churchy folks -then this is not an issue. For some folks this might be an issue.
– The weather… In the fall and spring it is entirely unpredictable. 100 degrees and sunny – 2 hours later it’s snowing. I’ve seen this first hand. There are also more twisters. A friend that lives near Denver Int’l had a twister and hail damage total her car and destroy her siding and roof 2 weeks ago. She has insurance – but it’s unsettling.
– No beach. For me, that’s a tough one to get past. But if you don’t go to the beach much then it’s a not issue.
ParticipantMy brother lived for 20 years in that part of the world. In Denver, Boulder, Arvada, and Ft. Collins. I spent a good part of the fall/winter of 2007 shuttling back and forth to Denver and Ft. Collins when my brother was sick.
Good things:
– It’s gorgeous! Undeniably, take your breathe away gorgeous. The mountains are spectacular.– It’s less expensive. A lot less expensive. My brother owned 3 houses in 20 years – all were about 1/3 of what you’d pay in San Diego.
– You’re right, people are very fit and active. My brother was a rock climber and cyclist – and that was pretty typical. Everyone there hikes, bikes, skies, etc.
– Good colleges and hospitals. I have to give serious props to University of Colorado Hospital in Aurora. I was super impressed with the medical care my brother received in his last weeks.
Things that might not be as good – depending on your viewpoint.
– People tend to be more overtly religious – more so than in San Diego. This is more pronounced as you get down towards Colorado Springs. If you like churchy folks -then this is not an issue. For some folks this might be an issue.
– The weather… In the fall and spring it is entirely unpredictable. 100 degrees and sunny – 2 hours later it’s snowing. I’ve seen this first hand. There are also more twisters. A friend that lives near Denver Int’l had a twister and hail damage total her car and destroy her siding and roof 2 weeks ago. She has insurance – but it’s unsettling.
– No beach. For me, that’s a tough one to get past. But if you don’t go to the beach much then it’s a not issue.
ParticipantMy brother lived for 20 years in that part of the world. In Denver, Boulder, Arvada, and Ft. Collins. I spent a good part of the fall/winter of 2007 shuttling back and forth to Denver and Ft. Collins when my brother was sick.
Good things:
– It’s gorgeous! Undeniably, take your breathe away gorgeous. The mountains are spectacular.– It’s less expensive. A lot less expensive. My brother owned 3 houses in 20 years – all were about 1/3 of what you’d pay in San Diego.
– You’re right, people are very fit and active. My brother was a rock climber and cyclist – and that was pretty typical. Everyone there hikes, bikes, skies, etc.
– Good colleges and hospitals. I have to give serious props to University of Colorado Hospital in Aurora. I was super impressed with the medical care my brother received in his last weeks.
Things that might not be as good – depending on your viewpoint.
– People tend to be more overtly religious – more so than in San Diego. This is more pronounced as you get down towards Colorado Springs. If you like churchy folks -then this is not an issue. For some folks this might be an issue.
– The weather… In the fall and spring it is entirely unpredictable. 100 degrees and sunny – 2 hours later it’s snowing. I’ve seen this first hand. There are also more twisters. A friend that lives near Denver Int’l had a twister and hail damage total her car and destroy her siding and roof 2 weeks ago. She has insurance – but it’s unsettling.
– No beach. For me, that’s a tough one to get past. But if you don’t go to the beach much then it’s a not issue.
ParticipantMy brother lived for 20 years in that part of the world. In Denver, Boulder, Arvada, and Ft. Collins. I spent a good part of the fall/winter of 2007 shuttling back and forth to Denver and Ft. Collins when my brother was sick.
Good things:
– It’s gorgeous! Undeniably, take your breathe away gorgeous. The mountains are spectacular.– It’s less expensive. A lot less expensive. My brother owned 3 houses in 20 years – all were about 1/3 of what you’d pay in San Diego.
– You’re right, people are very fit and active. My brother was a rock climber and cyclist – and that was pretty typical. Everyone there hikes, bikes, skies, etc.
– Good colleges and hospitals. I have to give serious props to University of Colorado Hospital in Aurora. I was super impressed with the medical care my brother received in his last weeks.
Things that might not be as good – depending on your viewpoint.
– People tend to be more overtly religious – more so than in San Diego. This is more pronounced as you get down towards Colorado Springs. If you like churchy folks -then this is not an issue. For some folks this might be an issue.
– The weather… In the fall and spring it is entirely unpredictable. 100 degrees and sunny – 2 hours later it’s snowing. I’ve seen this first hand. There are also more twisters. A friend that lives near Denver Int’l had a twister and hail damage total her car and destroy her siding and roof 2 weeks ago. She has insurance – but it’s unsettling.
– No beach. For me, that’s a tough one to get past. But if you don’t go to the beach much then it’s a not issue.
ParticipantThank you.
(And thanks to your girlfriend!)ParticipantThank you.
(And thanks to your girlfriend!) -
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