Search found 373 matches

by Lexx
Mon Apr 19, 2021 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Potentially Buying a New Home and Need Guidance
Replies: 26
Views: 881

Re: Potentially Buying a New Home and Need Guidance

I would be more nervous about giving up the potential gains in my stock accounts. Of course one can always rationalize that the stocks could go down as well. That's a virtual certainty at some point. It's really going to come down to your comfort level. Have you considered just staying where you are...
by Lexx
Mon Apr 19, 2021 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: swapping honda odyssey to a new one
Replies: 13
Views: 755

Re: swapping honda odyssey to a new one

My rule on Hondas is to drive em till they don't drive anymore. We still have our 2014 Odyssey and it's never had even so much as a hiccup. We plan on keeping it for another few years. The 1 extra gear on the transmission means very little. It's a big vehicle. You're never going to get back the mone...
by Lexx
Mon Apr 19, 2021 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Potentially Buying a New Home and Need Guidance
Replies: 26
Views: 881

Re: Potentially Buying a New Home and Need Guidance

I would not touch a penny from the brokerage accounts. Take out as big a loan as you can get for 30 years. Then pay it back as if it were a 15 year loan. That way if you have a financial emergency, you have the option of making the lower scheduled 30 year loan payments. With the stock market returni...
by Lexx
Sun Apr 18, 2021 12:01 am
Forum: Personal Consumer Issues
Topic: Protective Coating on New Subaru?
Replies: 18
Views: 1428

Re: Protective Coating on New Subaru?

All that stuff is total BS. I spent a lot of money doing an Opticoat on my truck. Didn't last more than 2 years. I'm doing a generic DIY ceramic coating on my Subaru that I got for $120. It should last just as long and even if it doesn't, it will cost me nowhere as much. Don't let the dealer do any...
by Lexx
Sun Apr 18, 2021 12:01 am
Forum: Personal Consumer Issues
Topic: Protective Coating on New Subaru?
Replies: 18
Views: 1428

Re: Protective Coating on New Subaru?

All that stuff is total BS. I spent a lot of money doing an Opticoat on my truck. Didn't last more than 2 years. I'm doing a generic DIY ceramic coating on my Subaru that I got for $120. It should last just as long and even if it doesn't, it will cost me nowhere as much. Don't let the dealer do anyt...
by Lexx
Sat Apr 17, 2021 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Property Appraisal Question - obscure situation
Replies: 13
Views: 1420

Re: Property Appraisal Question - obscure situation

That's awful. They don't give a heck and there's no consequence. That's a really lousy way to do business. And it's not worth the hassle to pursue it further legally. UGH!!! Maybe at least file a complaint with the appropriate regulatory agency for your own personal satisfaction if you care to take ...
by Lexx
Sat Apr 17, 2021 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Property Appraisal Question - obscure situation
Replies: 13
Views: 1420

Re: Property Appraisal Question - obscure situation

Appraisals should use 3 different approaches: 1) Price based on CAP rate based on the comparable properties in the area 2) Comparable properties 3) Replacement cost I would take great issue with any lowball appraisal that used comps from the wrong area. I would speak directly with the loan officer a...
by Lexx
Fri Apr 16, 2021 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 121
Views: 7237

Re: Medicare Advantage - What's the Deal?

This whole thing is so confusing. I'm still 5 years away from Medicare but I do want to budget for it. Right now I have a Platinum ACA plan with Kaiser, which while very expensive, has worked out very well for me. I've not had an issue getting treatment. However with Medicare it seems Kaiser only of...
by Lexx
Fri Apr 16, 2021 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: New vs used car in a strong used car market
Replies: 41
Views: 2971

Re: New vs used car in a strong used car market

Honda CRV I'd buy new. Used ones aren't discounted enough to make em worthwhile. BTW, you'd better check out the oil dilution issue on the CRV to see if it's been resolved yet. Two years ago when I was shopping for one, I found out that there was an issue of engine coolant ending up in the oil. It's...
by Lexx
Thu Apr 15, 2021 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage - What's the Deal?
Replies: 121
Views: 7237

Re: Medicare Advantage - What's the Deal?

Medicare is a horrible morass of complicated and confusing policies and options. My mom got what she thought was the best (most expensive premiums) plan, but she still has copays. My family is with Kaiser and we've been happy with them, so in years when I qualify for Medicare, I will likely opt to c...
by Lexx
Thu Apr 15, 2021 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

I'm 100% sure it helped us win the bid because my low offer beat out a higher offer from a real estate flipper. How much higher was the other offer? I was told it was $35k higher. Wow. I can't imagine giving away $35k just because of a letter! You must be one heck of a writer. And my offer was almo...
by Lexx
Thu Apr 15, 2021 1:46 am
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

I'm 100% sure it helped us win the bid because my low offer beat out a higher offer from a real estate flipper. How much higher was the other offer? I was told it was $35k higher. Selling price isn’t everything. Maybe the high bidder had contingencies or shaky credit or something that would slow do...
by Lexx
Wed Apr 14, 2021 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

JoeRetire wrote: Wed Apr 14, 2021 7:38 pm
Lexx wrote: Wed Apr 14, 2021 5:44 pmI'm 100% sure it helped us win the bid because my low offer beat out a higher offer from a real estate flipper.
How much higher was the other offer?
I was told it was $35k higher.
by Lexx
Wed Apr 14, 2021 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Biggest expenses in life
Replies: 50
Views: 4111

Re: Biggest expenses in life

Wedding was cheap. We went off and got married in Hawaii and didn't invite anyone. My biggest costs have been my education, housing, and my spendthrift ways.
by Lexx
Wed Apr 14, 2021 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

I guess that's the point. It's a single transaction. The seller could not want to sell to a potential buyer for all sorts of reasons. It's not going to be easy or cheap for a buyer in the middle of a house hunt in a sellers market, to go and find an attorney to prove something that's going to be ver...
by Lexx
Wed Apr 14, 2021 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

Is there a law or settle cases that says one has no choice as to whom one sells their property? Last time I looked, sellers are free to sell to whomever they please. If I don't like you, I won't sell to you. An additional problem with these is that they will often reveal that potential buyer is a pr...
by Lexx
Wed Apr 14, 2021 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Power of a personal real estate offer letter
Replies: 77
Views: 4792

Re: Power of a personal real estate offer letter

In our case when we bought our house 7 years ago, I wrote a letter. I'm 100% sure it helped us win the bid because my low offer beat out a higher offer from a real estate flipper. It was a very good letter 8-)
by Lexx
Wed Apr 14, 2021 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense that a car dealer needs to do a hard pull if you pay in full by check (cash)?
Replies: 79
Views: 7192

Re: Does it make sense that a car dealer needs to do a hard pull if you pay in full by check (cash)?

Some dealers also want to do a credit check so they can hard sell you on using their in-house financing so they can rake in the fees and points.
by Lexx
Wed Apr 14, 2021 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: House appraisal in insane market
Replies: 10
Views: 990

Re: House appraisal in insane market

As a buyer I would have serious concerns about the asking price if the appraisal came back so low. That tells you that folks are chasing the market. If this were the stock market, I bet most advisers would tell you to never chase a stock.
by Lexx
Tue Apr 13, 2021 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Proof of Funds when House Hunting
Replies: 28
Views: 2715

Re: Proof of Funds when House Hunting

Proof of funds has been pretty much SOP in our area (HCOL) for the longest time now. I've always made my purchase offers with proof of funds or shortly thereafter. It's no big deal. Just show them one of your accounts with enough cash to cover the down payment and closing costs.
by Lexx
Tue Apr 13, 2021 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a House in Today’s Market
Replies: 16
Views: 2151

Re: Buying a House in Today’s Market

Whatever fluctuation may occur in interest rates will be minimal compared to the massive amount you'd be overpaying in this market. Say you buy a house now and it drops 20% when a recession hits. Are you ok with that? Will the minimally higher interest rate you pay make enough of a difference to los...
by Lexx
Mon Apr 12, 2021 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Anxiety about the future
Replies: 57
Views: 6469

Re: Anxiety about the future

What about opening an urgent care clinic? I see a number of them don't take insurance. It's cash on the barrelhead. Get em in, get em out.
by Lexx
Mon Apr 12, 2021 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Turnkey rentals in another state
Replies: 8
Views: 523

Re: Turnkey rentals in another state

Sounds like a big win for the investment/management company. You foot the bill and they charge their fees on top of their fees.
by Lexx
Mon Apr 12, 2021 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: House Building vs. Buying in this Market?
Replies: 21
Views: 2073

Re: House Building vs. Buying in this Market?

I would rent a condo for now and bide my time. These housing prices are at all time highs and definitely not sustainable. Building is going to be ridiculously expensive based on the massive spike in building materials (especially wood) and labor. Save your bucks so they are ready to deploy when we'r...
by Lexx
Sun Apr 11, 2021 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10539

Re: In-Laws' HOA demanding $8000 lumpsum payment

Perhaps this is different from state to state. In California if the broker is to be a dual agent, there is a form on the standardized California Board of Realtors form that has to be checked, stating that the broker is acting as a dual agent. I've retained a buyers broker in the past and had a signe...
by Lexx
Sun Apr 11, 2021 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10539

Re: In-Laws' HOA demanding $8000 lumpsum payment

A real estate broker who becomes an agent of a seller or buyer, either intentionally through the execution of a written agreement, or unintentionally by a course of conduct, will be deemed to be a fiduciary. https://www.nar.realtor/sites/default/files/handouts-and-brochures/2014/nar-fiduciary-duty-...
by Lexx
Sun Apr 11, 2021 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10539

Re: In-Laws' HOA demanding $8000 lumpsum payment

Is this correct? I've always thought they buyer's broker has a fiduciary duty to the BUYER. Otherwise what's the point of using your own agent?
lhl12 wrote: Sun Apr 11, 2021 3:50 pm Both the seller's broker and the buyer's broker get paid by the seller and have a fiduciary duty to the seller. Neither agent owes a duty to the buyer.
by Lexx
Sun Apr 11, 2021 2:02 am
Forum: Personal Consumer Issues
Topic: buying laptop
Replies: 15
Views: 1516

Re: buying laptop

Just make sure it has a SSD and about 8 gb of RAM. You can always add an extra memory stick if it only comes with 4 gb. Then once you get it, I would wipe the bloody thing to get rid of all the bloatware and reinstall a fresh Windows OS. You might be able to use the neutered Win 10 that the laptop c...
by Lexx
Sun Apr 11, 2021 12:18 am
Forum: Personal Finance (Not Investing)
Topic: Using equity in primary home to invest in multiple investment properties
Replies: 30
Views: 2061

Re: Using equity in primary home to invest in multiple investment properties

Don't forget the eviction moratorium just got extended. It could get extended again. Heck, there's even a story about a guy who bought a house in SoCal and the seller squatted in the house using the eviction moratorium laws to stay. How are you going to handle a situation like that with such a big d...
by Lexx
Sat Apr 10, 2021 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Broker 3rd degree over every retirement withdrawal?
Replies: 61
Views: 7136

Re: Broker 3rd degree over every retirement withdrawal?

I see no reason to be polite when the rep is clearly trying to harangue you with a sales pitch. Whenever I'm faced with such a situation my reply is "Stop now. I do NOT want to hear your sales pitch. I don't have time for that. Get this done or transfer me to your supervisor." Schwab's per...
by Lexx
Sat Apr 10, 2021 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10539

Re: In-Laws' HOA demanding $8000 lumpsum payment

It seems like looking into the HOA minutes would be a good place to start. If there's any mention of a potential HOA special assessment, then the seller has materially failed to disclose. And my understanding is at that point it's a "gotcha". The seller and especially the seller's agent is...
by Lexx
Sat Apr 10, 2021 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Using equity in primary home to invest in multiple investment properties
Replies: 30
Views: 2061

Re: Using equity in primary home to invest in multiple investment properties

So basically your new properties will be financed 100%. Are you somehow buying under market foreclosures? Do you have experience with this? Because most folks will tell you that they believe markets tend to be 100% efficient i.e. it's not likely that you're going to score some kind of amazing once i...
by Lexx
Fri Apr 09, 2021 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Using equity in primary home to invest in multiple investment properties
Replies: 30
Views: 2061

Re: Using equity in primary home to invest in multiple investment properties

Hmmmm.....So you may have up to $1 mil in equity (subtracting real estate commissions and closing costs). A HELOC is going to probably cost you a higher interest rate. I doubt you could pull out much more than $800k-900k in a 2nd loan. I'm not clear on how you go and buy multiple investment properti...
by Lexx
Thu Apr 08, 2021 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Tax benefits of taking over a solar lease?
Replies: 2
Views: 252

Re: Tax benefits of taking over a solar lease?

From what I recall, the leasing company receives all the tax write offs of a leased solar installation. That's why it's never a good idea to lease the panels. It looks like you've paid a premium for the solar panels and are stuck with the lease payments. We just purchased a home that has an existing...
by Lexx
Thu Apr 08, 2021 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Leak under house, damage to floors, and insurance questions
Replies: 13
Views: 891

Re: Leak under house, damage to floors, and insurance questions

I had this happen. My wife kept saying she was smelling a bad odor. I noticed it on occasion but didn't think anything of it. We finally got a plumber to come out. Like you we have a tight crawl space under our house. The plumber found a pool of water and what he thought was probably a broken sewer ...
by Lexx
Thu Apr 08, 2021 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 286
Views: 20881

Re: For those retired or FI, how much do you spend annually?

Lexx, would it make sense to pick a HSA eligible HDHP plan? Family out of pocket maximum + premiums - tax savings of HSA contribution would be far less than 42k/yr. Why a platinum plan? Good question. I'm not sure I have enough other medical expenses to make use of an HSA, since the HSA itself can ...
by Lexx
Wed Apr 07, 2021 12:38 am
Forum: Personal Consumer Issues
Topic: Advice for Parent struggling with recent retirement
Replies: 12
Views: 1801

Re: Advice for Parent struggling with recent retirement

Get him vaccinated and out of the house! Tell him to go buy a small RV and travel the country! Get a cheap Miata and have him participate in autocross. Take trips abroad when this crisis is over. Volunteer as a mentor using his career skills. Find some hobbies. Most of all just get him out of the ho...
by Lexx
Sat Apr 03, 2021 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Recommendations
Replies: 17
Views: 1306

Re: Homeowners Insurance Recommendations

Raise your homeowners deductible to $5k or 10k. It's a policy that you really never really want to file a claim on unless there's a catastrophic event. Otherwise if you do file a claim, they'll either massively raise your rates in the following years or cancel your policy altogether. And it will mak...
by Lexx
Sat Apr 03, 2021 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Rental Investment or Cheap Vacation Home [or a mix of both?]
Replies: 13
Views: 1703

Re: Bad Rental Investment or Cheap Vacation Home [or a mix of both?]

Total costs are $2k/month? That's ridiculously high. You're paying a super high premium for their "management". Based on the numbers provided, in a best case scenario, you're netting $1500/mo on a $500k investment. That's a horrible return. In your situation, I'd just rent the place I want...
by Lexx
Fri Apr 02, 2021 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning Advice - Inheriting Large Estate
Replies: 14
Views: 1818

Re: Estate planning Advice - Inheriting Large Estate

I would consult an estate planning attorney ASAP. Look for one certified in estates and trusts. You can probably put the real estate in a combination of dynasty trusts and IDGT. Form a family limited partnership and take a valuation discount. Lots of stuff you can do at that level. Do it now before ...
by Lexx
Thu Apr 01, 2021 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Home Sellers Dilemma re Agent
Replies: 24
Views: 2165

Re: Home Sellers Dilemma re Agent

Leave the real estate agent on your side out of it. You can simply use an attorney to close the escrow. Why pay 3% to someone for just a little bit of work?
by Lexx
Thu Apr 01, 2021 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: 1031 exchange, selling to son for less than market value
Replies: 4
Views: 508

Re: 1031 exchange, selling to son for less than market value

I wonder if you could just sell him the condo for something like $300k. No one can argue 100% that the condo is exactly worth $350k because real estate varies by condition and time of sale. Then take the difference back on an installment sale so that it's a completed transaction. Set the installment...
by Lexx
Thu Apr 01, 2021 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Is auto purchase through Costco a good deal?
Replies: 12
Views: 1707

Re: Is auto purchase through Costco a good deal?

I used Costco as a baseline to see how much further I can negotiate. You should also go on the relevant Subie forum to get an idea of how much others are paying. If you're a current or recent Subie owner, know that Subaru has a $500 loyalty coupon. All you need to do is call Subaru customer service ...
by Lexx
Thu Apr 01, 2021 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Need some advice. 2021 Subaru Forester (Lease)
Replies: 2
Views: 351

Re: Need some advice. 2021 Subaru Forester (Lease)

Work off the capitalized cost, which is the actual selling price of the vehicle. Negotiate that down to 9% or more below MSRP. The Subie forums will tell you how low you can expect to go. Only then do you look at the lease numbers. Your lease payment will be determined by: 1) The amount financed, wh...
by Lexx
Fri Mar 19, 2021 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: House buying negotiations
Replies: 122
Views: 9767

Re: House buying negotiations

Just tell them your final price period. DONE. Tell them if they are confident that they can close on a higher offer, they should accept that offer. Otherwise it's a waste of time for you. If you want to get the best price, you have to be willing to walk away - for real.
by Lexx
Thu Mar 18, 2021 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with an auto accident where my vehicle was struck
Replies: 31
Views: 2562

Re: Not sure what to do with an auto accident where my vehicle was struck

Thank you. Yes, Geico has been fairly easy to deal with so far. My guess is the other party already admitted fault or has been determined to be at fault, because there's been no pushback at all from Geico. My insurer has not been involved at all AFAIK. I've found that Geico is a pretty good company ...
by Lexx
Thu Mar 18, 2021 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with an auto accident where my vehicle was struck
Replies: 31
Views: 2562

Re: Not sure what to do with an auto accident where my vehicle was struck

Thanks for the testimony. Geico did tell me about the car seat replacement, free rental car, and that I could take it to any licensed body shop. I took it to a shop that I've done business with before that's not on their approved list of shops. However Geico is insisting that aftermarket non-oem par...
by Lexx
Thu Mar 18, 2021 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with an auto accident where my vehicle was struck
Replies: 31
Views: 2562

Re: Not sure what to do with an auto accident where my vehicle was struck

For the heck of it, I entered my vehicle into KBB's "instant cash offer" on their website. I realize their instant offer is going to be lower than market. What I got was a difference of $4k in value if I enter the vehicle with a clean history vs one with an accident history. So yes, this i...
by Lexx
Thu Mar 18, 2021 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with an auto accident where my vehicle was struck
Replies: 31
Views: 2562

Re: Not sure what to do with an auto accident where my vehicle was struck

My goal is to keep this out of the purview of my insurance. I don't want them to end up raising my rates later on. So far Geico has been very responsive in the process. It sounds like the other driver has already either admitted or determined to be at fault because Geico is handling it all, not my i...
by Lexx
Thu Mar 18, 2021 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with an auto accident where my vehicle was struck
Replies: 31
Views: 2562

Re: Not sure what to do with an auto accident where my vehicle was struck

This happened in San Francisco. The police won't even show up for a robbery these days. They definitely do not show up for an auto accident unless there are injuries involved. Having been rear-ended 5 times in 3 cars (each less than 2 years old) including 3x in as many months, I learned that here in...