Search found 121 matches

by oldmotos
Tue Jun 08, 2021 9:23 pm
Forum: Personal Consumer Issues
Topic: Epoxy or paint a garage floor?
Replies: 46
Views: 4593

Re: Epoxy or paint a garage floor?

We had a professional epoxy our 40 year old garage floor and it looks great. I think you get more bang for the buck on an older floor as it removes the cracks, pock marks etc. so it is a big change. We started having grandkid's parties etc. in the garage after it was cleaned up.
by oldmotos
Thu Jun 03, 2021 12:15 pm
Forum: Personal Consumer Issues
Topic: Which floors in oceanfront condos have best views?
Replies: 26
Views: 2839

Re: Which floors in oceanfront condos have best views?

We chose to buy a 4th floor oceanfront vacation condo and are happy we did. Great view, closer to the action and we can take the steps instead of the elevator when we choose to. We actually take the steps down more often than the elevator. We love to listen to the waves in bed at night - from what I...
by oldmotos
Sun May 16, 2021 9:05 pm
Forum: Investing - Theory, News & General
Topic: Is Suze Orman smart to listen to? Has she been right
Replies: 40
Views: 4281

Re: Is Suze Orman smart to listen to? Has she been right

She could be right - who knows? She is too dramatic for my tastes and I think she pushes people to work longer than needed in many cases.
by oldmotos
Sun May 16, 2021 8:56 pm
Forum: Personal Investments
Topic: Thinking Outside the Box - Other ways to invest outside of investing in Mutual Funds and Stocks
Replies: 12
Views: 2015

Re: Thinking Outside the Box - Other ways to invest outside of investing in Mutual Funds and Stocks

I have enjoyed and profited from many non-traditional investments over the past 20 years. Real Estate Development: Partnered with two contractor friends to build storage condo projects locally and in two nearby towns. We sold all the units and made a good profit. Probably should have done more proj...
by oldmotos
Fri May 14, 2021 4:11 pm
Forum: Personal Investments
Topic: Thinking Outside the Box - Other ways to invest outside of investing in Mutual Funds and Stocks
Replies: 12
Views: 2015

Re: Thinking Outside the Box - Other ways to invest outside of investing in Mutual Funds and Stocks

I have enjoyed and profited from many non-traditional investments over the past 20 years. Real Estate Development: Partnered with two contractor friends to build storage condo projects locally and in two nearby towns. We sold all the units and made a good profit. Probably should have done more proje...
by oldmotos
Thu May 06, 2021 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: claim roof on insurance?
Replies: 17
Views: 919

Re: claim roof on insurance?

Turn it in and ask the insurance company to send someone out to see if the roof needs replacing due to hail. If they say yes get a couple of bids and get it done. No reason not to.
by oldmotos
Tue May 04, 2021 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: FL Homeowner’s Insurance
Replies: 15
Views: 1148

Re: FL Homeowner’s Insurance

I just paid the premium for our SW Florida vacation home and it went up about 10%. Our area was hit hard by Irma but we did not have enough damage to file a claim. Many newer, taller homes homes close to us had far more damage. We have had zero claims in 11 years so that may help keep premiums down....
by oldmotos
Sat May 01, 2021 12:21 pm
Forum: Personal Investments
Topic: Buying multiple properties in Midwest followed by 1031 exchange to buy a house in Bay area
Replies: 19
Views: 1982

Re: Buying multiple properties in Midwest followed by 1031 exchange to buy a house in Bay area

Sounds like a bad idea. I have owned lots of Midwest real estate over the past 40 years and my experience was the appreciation was low but ROI was better than other areas of the country. I just sold a Midwest commercial/apartment building that I bought 11 years ago for slightly more than I had inves...
by oldmotos
Sat May 01, 2021 11:42 am
Forum: Personal Consumer Issues
Topic: Questions for Wall Street Journal Subscribers
Replies: 69
Views: 5286

Re: Questions for Wall Street Journal Subscribers

I have finally gotten use to the online edition after many years of the print and like their more middle of the road opinion section as compared to other left wing and right wing news sources. I bought a $79.95 online subscription for 2 years on eBay but have paid more at times.
by oldmotos
Sun Apr 25, 2021 1:12 pm
Forum: Personal Consumer Issues
Topic: Is Mobil 1 extended performance full synthetic oil really good for 20k miles?
Replies: 74
Views: 5765

Re: Is Mobil 1 extended performance full synthetic oil really good for 20k miles?

Wow - pretty calm discussion compared to some motorcycle forums where the oil arguments get heated and go on forever! I am an old 3,000 mile do it yourself oil change guy who now enjoys the longer intervals and having the shop do it. I recently took our Toyota to the dealer for an oil change at 8500...
by oldmotos
Fri Apr 23, 2021 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: What Were Your Regrets after Retiring? (serious question)
Replies: 322
Views: 41621

Re: What Were Your Regrets after Retiring? (serious question)

I retired 2 years ago just after turning 64. Could have gone several years earlier but I had a good work from home job with travel I enjoyed. I almost did OMY to avoid paying for Cobra insurance but glad I did not. I have a couple of side businesses and real estate so am really only semi retired but...
by oldmotos
Thu Apr 22, 2021 9:20 pm
Forum: Personal Consumer Issues
Topic: Mediterranean Cruise Opinions
Replies: 50
Views: 3494

Re: Mediterranean Cruise Opinions

We are looking at going on a Mediterranean Cruise with friends in September 2022. They have picked out a 12 night Viking Cruise on the Viking Sea in a Category DV4-Deluxe Veranda at a cost of $8600 per person including economy air fare from the Midwest U.S. If $8,600 is the base price, then someone...
by oldmotos
Thu Apr 22, 2021 7:35 am
Forum: Personal Consumer Issues
Topic: Mediterranean Cruise Opinions
Replies: 50
Views: 3494

Re: Mediterranean Cruise Opinions

Thanks for the replies. We have only been on a few Celebrity and NCL cruises in the past. We are not big cruise fans but thought this would be a good option to visit a number of European cities without having to repeatedly haul luggage and change hotels.
by oldmotos
Wed Apr 21, 2021 8:12 pm
Forum: Personal Consumer Issues
Topic: Mediterranean Cruise Opinions
Replies: 50
Views: 3494

Mediterranean Cruise Opinions

We are looking at going on a Mediterranean Cruise with friends in September 2022. They have picked out a 12 night Viking Cruise on the Viking Sea in a Category DV4-Deluxe Veranda at a cost of $8600 per person including economy air fare from the Midwest U.S. This is double of what I have seen for sim...
by oldmotos
Tue Apr 20, 2021 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring in Florida-Limited Requirements
Replies: 6
Views: 782

Re: Retiring in Florida-Limited Requirements

There are some beachfront condo's in the Naples/Marco Island area under 750k with a monthly HOA of approx. $650. These condos are mostly 900 SF or less.
by oldmotos
Mon Apr 19, 2021 12:43 pm
Forum: Investing - Theory, News & General
Topic: Fisher Investments - Parents Considering
Replies: 19
Views: 2350

Re: Fisher Investments - Parents Considering

Have you read "Investor Junkie's" take on Fisher Investments? https://investorjunkie.com/reviews/fisher-investments/ It appears to be an honest appraisal. Their rating is a respectable 9.5 for high net work clients. it is NOT Bogleheads style. Not mine either. Fisher is big in the persona...
by oldmotos
Wed Mar 03, 2021 10:23 pm
Forum: Personal Consumer Issues
Topic: If you live on a golf course .... [battery-powered golf cart recommendation?]
Replies: 18
Views: 2327

Re: If you live on a golf course ....

New carts are very hard to find right now and used carts at dealers have jumped in price and are also hard to find. I would look for a used cart from a private party. I prefer EZ GO.
by oldmotos
Sun Feb 14, 2021 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Investment condo in Florida
Replies: 17
Views: 1747

Re: Investment condo in Florida

My wife and I own a weekly rental beachfront condo in the Naples area that we use 4-6 weeks per year and rent it out the rest of the time through a management company. We paid cash for the condo and earn approx. 3% per year on our investment not counting any possible increase in value. The IRS allow...
by oldmotos
Mon Jan 25, 2021 3:04 pm
Forum: Personal Consumer Issues
Topic: Okoboji Iowa Lakefront Rental
Replies: 4
Views: 511

Re: Okoboji Iowa Lakefront Rental

You could also try okoboji.com or Facebook Marketplace - try a post describing what you are looking for. Many of the more desirable properties are reserved by repeat guests but there should be something available. You didn't say what month you are looking for but July is usually the month most in de...
by oldmotos
Thu Jan 21, 2021 7:57 am
Forum: Personal Consumer Issues
Topic: How to buy a boat? (the process)
Replies: 39
Views: 3306

Re: How to buy a boat? (the process)

I have bought many boats over the last 40 years and most were bought used from a private party with good success. I recently helped a friend buy a used boat and we looked at many from both private parties and from brokers. He found the best deal from a broker. This was in a vacation area with many w...
by oldmotos
Mon Jan 04, 2021 8:29 pm
Forum: Personal Consumer Issues
Topic: Any multimillionaire's (more than 2mm) out there still mow their own lawn?
Replies: 341
Views: 26314

Re: Any multimillionaire's (more than 2mm) out there still mow their own lawn?

In our small Midwest town I would guess 90% of multimillionaires mow their own lawn and 80% have someone clean their house.
by oldmotos
Tue Dec 22, 2020 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Purchased 2nd home but could not rent due to Covid19
Replies: 6
Views: 1317

Re: Purchased 2nd home but could not rent due to Covid19

A part time rental will not qualify as an investment property and get the full write offs. You are only allowed to use the property for 2 weeks a year plus days when you are working on the property. If you could shorten your personal use to 2 weeks plus another 2-3 weeks while getting it ready for r...
by oldmotos
Mon Dec 14, 2020 6:46 pm
Forum: Personal Investments
Topic: Paid off real estate > Bonds?
Replies: 30
Views: 1799

Re: Paid off real estate > Bonds?

Did you catch that the property is paid off with no mortgage? Go ahead and take 1 or 2 percentage points off if you want. The question still stands. I always find these posts interesting. How do you calculate you have $1500/mo profit on $250k property? Someone could buy a $250k property for less th...
by oldmotos
Sat Dec 05, 2020 10:10 pm
Forum: Personal Consumer Issues
Topic: Anyone have a home sauna?
Replies: 8
Views: 1087

Re: Anyone have a home sauna?

We have an infrared sauna that works well but we don't use it much. A couple of my friends bought cheaper infrared saunas but they complain that it takes over 30 minutes to warm up to 100 degrees where ours will do so in less than 15 minutes and then get to 130 degrees in another 20 minutes. We have...
by oldmotos
Sat Dec 05, 2020 10:57 am
Forum: Personal Consumer Issues
Topic: Thinking about a 2nd Home in Florida
Replies: 37
Views: 5268

Re: Thinking about a 2nd Home in Florida

I would recommend renting for a few years in different areas. South Florida will be more expensive in winter and North Florida will have some bargains. Your choice will depend on how warm you want it to be.
by oldmotos
Thu Nov 12, 2020 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Over-Improving Your Personal Residence?
Replies: 106
Views: 9250

Re: Over-Improving Your Personal Residence?

I had a similar size cedar deck that was built in 1980 that I was able to fix up by just replacing the decking with 5/4 x 6 treated wood as the joists and posts were in good condition. Pretty easy work so I hired a handyman at 1/2 the cost of a carpenter. I don't remember the cost but it probably wa...
by oldmotos
Thu Nov 12, 2020 7:06 pm
Forum: Personal Consumer Issues
Topic: When to buy a retirement home in another state?
Replies: 34
Views: 3165

Re: When to buy a retirement home in another state?

I would wait unless you plan to rent the house until you move in. We bought our retirement condo 10 years before retirement and it worked out well renting it and receiving tax deductions for improvements and travel etc. Ours was a vacation rental so we could use it some ourselves which was nice. It...
by oldmotos
Sun Nov 08, 2020 9:13 am
Forum: Personal Consumer Issues
Topic: When to buy a retirement home in another state?
Replies: 34
Views: 3165

Re: When to buy a retirement home in another state?

I would wait unless you plan to rent the house until you move in. We bought our retirement condo 10 years before retirement and it worked out well renting it and receiving tax deductions for improvements and travel etc. Ours was a vacation rental so we could use it some ourselves which was nice. It ...
by oldmotos
Tue Sep 08, 2020 10:59 pm
Forum: Personal Consumer Issues
Topic: Replacing a 20-year-old central air conditioning
Replies: 66
Views: 6264

Re: Replacing a 20-year-old central air conditioning

Don't do it. I have had bad luck with two AC units that were replaced at a Florida rental property. One needed repair three times in three months. When I question the vendor they say the old ones were better. At another Florida property I replaced a 40 year old unit and have seen very little cost sa...
by oldmotos
Tue Sep 01, 2020 2:36 pm
Forum: Personal Consumer Issues
Topic: Cheapest place to get subscription to Wall Street Journal
Replies: 36
Views: 4032

Re: Cheapest place to get subscription to Wall Street Journal

I bought 2 years digital edition for 79.95 on eBay last year. At that time it was 234/yr on WSJ website. I believe their coverage is much more balanced than most newspapers.
by oldmotos
Thu Aug 20, 2020 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: how often do you check your net worth?
Replies: 153
Views: 10103

Re: how often do you check your net worth?

At the end of the year.
by oldmotos
Tue Aug 18, 2020 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Converting Hobby to Side Business Advice
Replies: 9
Views: 1245

Re: Converting Hobby to Side Business Advice

Product resales - are you buying the product using a sales tax exemption? Charging your customer(s) sales tax? No, I am not using a sales tax exemption for purchases. I have been selling through eBay, which has tax collection on certain states, but not all. I do not have it enabled for all sales. T...
by oldmotos
Thu Aug 13, 2020 9:35 pm
Forum: Personal Consumer Issues
Topic: Products that last forever
Replies: 239
Views: 16734

Re: Products that last forever

My 1850's Peter Wright 127# Anvil and 1941 Indian Chief motorcycle - the Indian takes a bit more maintenance!
by oldmotos
Thu Aug 13, 2020 9:28 pm
Forum: Personal Consumer Issues
Topic: Products that last forever
Replies: 239
Views: 16734

Re: Products that last forever

The American Standard boiler at my late parents house that used hot water radiators. I think it dated from the 1960s, used heavily every winter. Don't think anyone did any maintenance on it other than every few years draining and flushing the water in the system. Dad had an HVAC tech check out the ...
by oldmotos
Wed Aug 12, 2020 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Rec'd Unsolicited Offer for Land
Replies: 27
Views: 2227

Re: Rec'd Unsolicited Offer for Land

It might be good to contact a local farm management company as they will probably have knowledge about these offers and be able to give some advice. These offers are fairly common in rural areas both for solar and wind power based on government programs. There may also be a government farm agency or...
by oldmotos
Mon Aug 10, 2020 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of buying a vacation home in NC mountains and doing Airbnb. Bad idea?
Replies: 66
Views: 7104

Re: Thinking of buying a vacation home in NC mountains and doing Airbnb. Bad idea?

We have owned a vacation rental house over 2000 miles away for 10 years with good results. However since VRBO was bought by Expedia they have made changes to benefit themselves to the detriment of the home owners. It has not affected us as much as it would a new owner as we have many repeat guests t...
by oldmotos
Wed Jul 15, 2020 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Liability for Golf Ball Through Windshield
Replies: 93
Views: 6441

Re: Liability for Golf Ball Through Windshield

I have played the same golf course for over 50 years and have paid for one windshield and one house window. In our area the understanding is that the golfer is responsible for damages but not sure anyone has challenged that. The car window was obvious to me but the only way I knew the house window w...
by oldmotos
Thu Jul 02, 2020 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone get a discount for paying year in advance power or phone bill?
Replies: 28
Views: 2361

Re: Anyone get a discount for paying year in advance power or phone bill?

It would be great if a discount was offered but I have not seen it. I often pay 6 months in advance on our second home utilities and some investment property utilities that are not too high instead of having to record the small monthly direct pay.
by oldmotos
Wed Jul 01, 2020 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing for INVESTMENT property
Replies: 18
Views: 1873

Re: Refinancing for INVESTMENT property

Commercial loans will always have a higher rate than a home loan because all lenders know there is generally more risk in a commercial loan than a home loan. You yourself want to pay off your home and borrow on another property to do it. In my case I believe the commercial loan would be much less r...
by oldmotos
Wed Jul 01, 2020 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinancing for INVESTMENT property
Replies: 18
Views: 1873

Re: Refinancing for INVESTMENT property

Following. I have a 100k loan on our home at 3.25% interest but am unable to deduct the interest. I would like to borrow 100K on a commercial building I rent out and pay off my home loan. Our local banks charge more for commercial loans than residential. Are there any national companies that do thes...
by oldmotos
Mon Jun 29, 2020 5:04 pm
Forum: Personal Consumer Issues
Topic: Painting new drywall
Replies: 24
Views: 1675

Re: Painting new drywall

My drywall guy always tells us to do 2 coats of drywall primer then paint.
by oldmotos
Wed Jun 17, 2020 4:44 pm
Forum: Personal Consumer Issues
Topic: Should I buy this tractor for new home on 15 acres, (approx 1 acre of grass and almost 1 acre potential garden)
Replies: 39
Views: 2719

Re: Should I buy this tractor for new home on 15 acres, (approx 1 acre of grass and almost 1 acre potential garden)

I would only buy it if you enjoy working on old equipment and money was tight. A newer style mower would make that job much easier.
by oldmotos
Mon Jun 08, 2020 10:57 am
Forum: Personal Consumer Issues
Topic: Does Buying an RV make sense?
Replies: 97
Views: 6931

Re: Does Buying an RV make sense?

I have read that RV rental prices have gone up a lot because people are trying to avoid hotels due to COVID concerns. And RV and boat sales are very strong. I sold our Yamaha Waverunner today immediately after I listed it for sale.
by oldmotos
Mon Jun 01, 2020 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal
Replies: 80
Views: 8700

Re: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal

Do people even consider how many places they can travel for the price of purchasing a vacation home and the upkeep associated with it? We definitely consider the cost and tradeoffs of a vacation home and for now believe it is worth it. We live in a rural area and have a vacation cabin at a popular ...
by oldmotos
Sun May 31, 2020 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal
Replies: 80
Views: 8700

Re: FL Snowbirds with Second Homes - Give Me Pros/Cons of Owning Our Own vs Renting Seasonal

We have roughly similar assets and income as the OP and we bought a Naples area condo within walking distance of the beach in 2010 when prices were down. It has appreciated to approx. 300k and has been a pretty good experience. It rents for approx. 13k for the 3 prime months plus taxes. We use it so...
by oldmotos
Thu May 28, 2020 10:43 pm
Forum: Personal Investments
Topic: Overpay for the home we love?
Replies: 62
Views: 5181

Re: Overpay for the home we love?

$2500 rent for a 475K house is a bargain - the only way buying the house makes any sense is if you plan to live there for much longer than 3-4 years.
by oldmotos
Wed May 27, 2020 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: "Vacation" Home as First Home Purchase?
Replies: 14
Views: 1631

Re: "Vacation" Home as First Home Purchase?

Some vacation rental properties are now open to longer term rentals which might be a good option for you.
by oldmotos
Sun May 17, 2020 8:14 pm
Forum: Personal Consumer Issues
Topic: Beach Vacation Suggestions
Replies: 31
Views: 2681

Re: Beach Vacation Suggestions

I would suggest looking at the Naples/Marco Island, FL. area as summer is the off season with some good values and smaller crowds compared to more Northern beaches.
by oldmotos
Mon May 11, 2020 11:15 pm
Forum: Personal Consumer Issues
Topic: Has Your Spending Changed Since The Shutdown?
Replies: 180
Views: 7479

Re: Has Your Spending Changed Since The Shutdown?

I don't think our total spending has changed much but the cash in my wallet lasts way longer now that our neighborhood "cash only" bar is closed!
by oldmotos
Thu May 07, 2020 12:42 pm
Forum: Personal Consumer Issues
Topic: Craigslist - are these scams?
Replies: 49
Views: 3929

Re: Craigslist - are these scams?

I sell a fair amount on Craigslist without many problems. One thing I do is state in the listing I will not respond to generic questions so please ask specific questions so I know you are real. Pretty easy to just ignore the rest. Then require cash at pick-up and refuse any requests for delivery unl...