Search found 321 matches

by SwampDonkey
Sat Jan 20, 2024 7:14 pm
Forum: Personal Investments
Topic: Suggestions for 100x moonshots
Replies: 108
Views: 21671

Re: Suggestions for 100x moonshots

My favorite sleeper stock right now is Mercado Libre (MELI). If you combine Amazon, Paypal, and a few others into a single company, this is what MELI is....only in South America and still in the early stages. Strong management team, clear vision and execution (so far), investments from some major US companies, and a market cap that isn't outrageous (~$50B). IF they continue their growth story I could easily see them hitting $500B in 10-15 years. Disclosure: I bought into the company in March when they dropped to $550, they're currently around $1k/share. I expect continued volatility but have no intention of selling anytime this decade. It’s probably already too large at 50B marketcap for a 100X. Also, if there’s that much money to be made ...
by SwampDonkey
Sun Dec 31, 2023 10:32 pm
Forum: Personal Consumer Issues
Topic: is finishing a garage floor recommended? sealing, epoxy, something else?
Replies: 37
Views: 6741

Re: is finishing a garage floor recommended? sealing, epoxy, something else?

Me moved into a new (to us) home that receives quite a bit of snow.

I put in a knock-off version of swisstrax and love it. Zero complaints after 16 months.

If we end up moving again, I'll be doing the same thing to my next garage floor.
by SwampDonkey
Thu Aug 10, 2023 6:39 pm
Forum: Personal Consumer Issues
Topic: Hail damage to both vehicles - insurance offering lowball settlement?
Replies: 22
Views: 3158

Re: Hail damage to both vehicles - insurance offering lowball settlement?

Thanks, everyone. Lots of good advice has been given. I'll be getting three estimates and then reengage with our insurance.
by SwampDonkey
Tue Aug 08, 2023 10:18 pm
Forum: Personal Consumer Issues
Topic: Hail damage to both vehicles - insurance offering lowball settlement?
Replies: 22
Views: 3158

Hail damage to both vehicles - insurance offering lowball settlement?

Both of our vehicles were recently damaged in a hail storm. Mine: 70-100 divots DW: 70-100 divots + cracked windshield Value of vehicles: Mine: $30k DW: $20k Started a claim and insurance company requested photos. We submitted 80 photos. 72 hours later they emailed us their estimated cost to repair: Mine: $2.5k DW: $1.5k They said they can send us a check for those amounts and the claim is then settled or we can take the vehicles to our shop of choice and have them make the repairs and the insurance company will pay the bill. Edited to add: To be clear, the insurance company does not have a preferred repair shop . They specifically mentioned any legitimate shop is fine. The insurance company's offer seems extremely low to me. I was honestly...
by SwampDonkey
Wed Feb 15, 2023 12:54 am
Forum: Personal Consumer Issues
Topic: apple airtags - recommended?
Replies: 75
Views: 7713

Re: apple airtags - recommended?

Keep one on my kids' backpacks - makes it easy to track when the school bus will arrive (give or take a couple a minute).

Recently moved across the country and placed one with our stuff when the movers packed everything up. It arrived at their warehouse at our new destination within 10 days ....but we didn't receive notification that our stuff had arrived for another five weeks.

Anytime I go to a public gym and have a gym bag with me - i keep an air tag in it.

Always have one in my golf bag when I hit the links.
by SwampDonkey
Sun Dec 18, 2022 1:33 am
Forum: Personal Finance (Not Investing)
Topic: Does whole life make a ton of sense for me?
Replies: 171
Views: 15122

Re: Does whole life make a ton of sense for me?

I asked a similar WL question on here four years, albeit for different reasons. The responses I received were largely inline with what OP has received thus far. I ended up buying the WL policies for both my DW and young children. Was it the smartest financial decision for us? I'm not sure. Has it provided peace of mind and am I happy I did it? Absolutely. For my children, I pay $474/year for 10 years (total). After that, they have $100k (plus whatever interest/dividends accrue) in WL for their rest of their lives. And when they become adults, if they want to cash it out, that is fine as well. It's not big money by any means but we are happy we did/are doing it. For my DW, I pay $2.2k/year for 20 years (total). After that, she as $250k (plus...
by SwampDonkey
Wed Nov 02, 2022 9:13 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

homebuyer6426 wrote: Tue Nov 01, 2022 12:28 pm Is going "full wireless" an option? How about a large mirror plus a telescope? Mount the mirror outdoors, and have the scope pointing out a window. Might be a good option if you only need to view it from inside your home.

There are also telescopes that can stream to your phone.
Fascinating idea. Made me think of the tall mirrors set up on hilly golf courses to make sure the hole is cleared before hitting. Unfortunately, I don't think my DW would find this idea as appealing as myself :happy . Thanks for the "outside the box" idea, though!
by SwampDonkey
Wed Nov 02, 2022 9:11 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

For a 24/7 recorded live feed, I just don't think wireless is going to work well, but maybe with one of those solar attachments. Even then, I would bet you're going to have charge it in the wall from time time depending on your climate. You probably don't really need a constant live recording feed, but if you feel you do, I would unquestionably get a wired option. I have wireless Eufy cameras and they work great. Depending on the zone and how much activity there is, I can get close to 6 months without charging. Anytime I want to check, it then becomes a "live feed". It's just not recording 24/7 at all times. If it senses activity, it starts recording. The Eufy system sounds very similar to our Blink system. They work great for th...
by SwampDonkey
Wed Nov 02, 2022 9:08 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

You could get one of the Wi-Fi security camera systems with a Network Video Recorder and a Hard Drive like this one from Annke: https://www.amazon.com/ANNKE-Wireless-Surveillance-Cameras-Outdoor/dp/B07H8HY9XD/ You'll have to plug in your own monitor to the NVR via HDMI. You'll still have to run power to the cameras. You can do this with DC extension cords with 5.5 mm x 2.1 mm barrel plugs like these: https://www.amazon.com/Power-Extension-Compatible-Adapter-Camera/dp/B07Z7NZ7GH/ Those ones should fit through a window closed on top of it if you want to use a power plug inside. You can also get splitters, but you may also have to get a power supply rated for 12 V and 1 Amp per camera. And you can also get light socket to power plug adapters ...
by SwampDonkey
Wed Nov 02, 2022 9:05 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

tev9876 wrote: Tue Nov 01, 2022 10:06 am A ring camera coupled with an Amazon Echo Show can automatically display the camera feed when motion is detected. I believe you can also set this up on a smart TV, but you might need a Amazon Fire TV (or Fire stick) for compatibility.
Do you know if this offers recording functionality as well?
by SwampDonkey
Wed Nov 02, 2022 9:04 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

ISO recommendations for a camera we can mount above/near our garage with a 24/7 video feed that streams to an always-on monitor within our home. Our home has an 80-ft driveway and there's no way to view it without actually going outside. We would like to mount a monitor in either our kitchen or living room that has a constant video feed of the driveway. Running wires from the camera to an internal monitor does not appeal to us. We have Blink cameras set up around the home and those work okay but they only activate when they sense motion or are manually activated via the app. We don't want to have to open an app every time we want to see what is going on in the front of our home. Any recommendations? To OP: This might work for outdoors. Sol...
by SwampDonkey
Wed Nov 02, 2022 9:03 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

user5027 wrote: Tue Nov 01, 2022 8:16 am
forgeblast wrote: Tue Nov 01, 2022 6:31 am A ring camera will let you live view. you can wire one into your lights, or if you have a plug you can plug one it. just need wifi connection there.
My Ring has a solar panel to keep the battery charged. Works great.

https://www.amazon.com/gp/product/B07BN ... UTF8&psc=1
Is the Ring recording 24/7? And are you able to have it continually sending a live feed to a monitor?
The solar panel idea does sound appealing. I've noticed Blink has come out with similar attachments.
by SwampDonkey
Wed Nov 02, 2022 9:01 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

forgeblast wrote: Tue Nov 01, 2022 6:31 am A ring camera will let you live view. you can wire one into your lights, or if you have a plug you can plug one it. just need wifi connection there.
Will Ring cameras record 24/7 and is there the ability to have it displaying a live feed on a monitor?
My impression was they were similar to Blink: record after sensing movement and only able to view on an app.
by SwampDonkey
Wed Nov 02, 2022 8:59 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

lthenderson wrote: Tue Nov 01, 2022 6:02 am We have a PoE camera system that does that but the cameras still need ethernet cables so we still have one cable to run. Ethernet cables have a lot more options and are easier to run than 120V electrical lines. Our cameras feed to a monitor and a DVR that will records continuous footage for three weeks before it is over written. Other than setup cost, there is no monthly subscription fees which I like.
Good info; thank you.
Which system are you running? How many cameras and what size of hard drive are you running to get three weeks of continual footage? Do you view the feed on a monitor in your home or via an app?
by SwampDonkey
Wed Nov 02, 2022 8:57 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

Re: How to wirelessly view our driveway 24/7?

raveon wrote: Mon Oct 31, 2022 11:30 pm I think you are better off installing one of those Lorex recording cameras for your use case. Check them out on Costco's website.
I've looked at several on the Costco site. Do you have experience with any of them?
by SwampDonkey
Mon Oct 31, 2022 11:11 pm
Forum: Personal Consumer Issues
Topic: How to wirelessly view our driveway 24/7?
Replies: 29
Views: 4088

How to wirelessly view our driveway 24/7?

ISO recommendations for a camera we can mount above/near our garage with a 24/7 video feed that streams to an always-on monitor within our home.

Our home has an 80-ft driveway and there's no way to view it without actually going outside. We would like to mount a monitor in either our kitchen or living room that has a constant video feed of the driveway. Running wires from the camera to an internal monitor does not appeal to us.

We have Blink cameras set up around the home and those work okay but they only activate when they sense motion or are manually activated via the app. We don't want to have to open an app every time we want to see what is going on in the front of our home.

Any recommendations?
by SwampDonkey
Tue Aug 16, 2022 10:30 pm
Forum: Investing - Theory, News & General
Topic: [Stocks On Sale!]
Replies: 61
Views: 6515

Re: Stonks On Sale!

I do this.

Most of my investments are on auto-invest every month, I still have my hobby-money account that I play around with. Thought I was a genius from March 2020 until about Nov 2021. Now? Not so much. Still fun though.

To answer your question, when the market hits the fan and there's blood in the streets, I'll sometimes place DEEPLY discounted limit orders on stocks I like. If they strike, it's usually bought on margin so I'll go in and transfer money from my savings account into my brokerage to pay off the margin. Sometimes it works, sometimes it doesn't. Made a lot of money doing this, lost a lot of money doing this. Still fun though.
by SwampDonkey
Tue Aug 16, 2022 10:22 pm
Forum: Personal Consumer Issues
Topic: Replacement Fence Cost?
Replies: 8
Views: 945

Re: Replacement Fence Cost?

We were just quoted $10.5k for:
350 ft of 5ft split rail fencing in a sloping and treed back yard.
(1) 8ft gate and (1) 4 ft gate.
Included wired fencing attached to the split rail (to keep dogs in).
Holes dug 36" deep and secured with concrete.

I'd already quoted the materials if I was going to DIY it and they came in at $5.5k. Looks like the fencing company just took the materials and times it by two to add their labor costs. He said it would be a two man job for two days.

Not apples to apples but it's at least something to reference
by SwampDonkey
Sun Jul 24, 2022 11:40 pm
Forum: Personal Consumer Issues
Topic: Long Distance Home Purchase
Replies: 37
Views: 2963

Re: Long Distance Home Purchase

I've bought a couple primary homes without personally seeing them.

Aside from the other good advice provided by others, another I did was join FB groups that were local to the specific area you were interested in. Lots of good info in those groups if you don't mind sifting through the rubbish. Also a good place to ask questions about the specific areas you are interested in (ex: is this a good school? How is the commute from x to z? Crime in the area? etc.).
by SwampDonkey
Wed May 25, 2022 12:19 am
Forum: Personal Consumer Issues
Topic: Deck dilemma
Replies: 43
Views: 4370

Re: Deck dilemma

I had a friend in a similar situation. Many of his deck boards needed replaced and he was tired of the maintenance required of wood.

His initial idea was to rip out the deck boards but keep the joists and use Trex for the new deck. Unfortunately, his joists were too far apart for Trex so he was either going to have to replace all of his joists or add an additional joist in between every existing joist.

His solution: he installed the Trex over the existing deck boards.

Three years later: The Trex looks and feels great and the entire deck is rock solid. While unconventional, he is happy with his decision.
by SwampDonkey
Sat May 21, 2022 9:43 pm
Forum: Personal Consumer Issues
Topic: Best Temporary Extra Bed Solution? Air bed, Cot, Sleeping Pad, etc.
Replies: 15
Views: 3683

Re: Best Temporary Extra Bed Solution? Air bed, Cot, Sleeping Pad, etc.

"Disc-O-Bed" is the best.

Very high quality cots that can be stacked. They are heavy-duty and will last a lifetime. Very comfortable to sleep on. It's what we (the adults) use when camping. We're about to move into a home and will have to wait a few weeks for our furniture to arrive - my DW and I will both be using these for the duration. Way more comfortable than an inflatable bed and the entire bed doesn't shift when your sleeping partner moves.

10/10 would recommend.

https://www.amazon.com/Disc-O-Bed-Large ... U41G2?th=1.

Costco often has them on sale.
by SwampDonkey
Sun May 15, 2022 6:30 pm
Forum: Personal Consumer Issues
Topic: Epoxy or paint a garage floor?
Replies: 50
Views: 7069

Re: Epoxy or paint a garage floor?

snowox wrote: Thu Jun 10, 2021 6:13 am I did a plastic interlocking system. Like it much better than both epoxy and paint. Ten years old and still looks new and I live in upper midwest so gets hit with a lot of snow etc.. Can make a nice pattern, take it with you if you move and mine had a grid so easy to blow out or rinse out once every 6 months I do if necessary. Absolutely love it. Did a cool black red and gray pattern. Also very easy

Which system did you use? The two that repeatedly appear in my google searches are Swisstrax and RaceDeck - about a 50% difference in price between the two of them.
by SwampDonkey
Mon May 09, 2022 11:37 pm
Forum: Personal Consumer Issues
Topic: Thinking about getting a Hot Tub / Spa
Replies: 57
Views: 6550

Re: Thinking about getting a Hot Tub / Spa

We purchased and installed one on our paver patio in central FL. We really enjoyed it. Used it several times a week from Nov-Apr and then drained it for the warmer months. Maintenance didn't take more than 5 min/week after I learned the process. Price was $3.5k (delivery included) from a local manufacturer in St. Pete. Not very many bells and whistles but it was all we needed. Currently living in a much cooler climate and have shopped at three different hot tub stores in the past week to buy another tub. Unfortunately it's looking like $10k are the entry models and we'll probably have another $1.5k in electrical work to run the wiring from the front garage panel to the back yard. Each of the store has told me to expect anywhere from $25-50/...
by SwampDonkey
Sat Apr 23, 2022 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 521072

Re: Tales from this insane real estate market

Explanation of how we made our purchase. Very well done. I mentioned this approach to a colleague who reached out to his landlord and is now waiting for a reply. I was wondering the logistics of making an offer. Did you just hire a lawyer to take care of offer and other paperwork, then arranged inspection by yourself with permission of seller, then shared contract with lender? Or did you take care of making offer by yourself? If so, did you leverage an electronic signing app or old paper fashion? Thank you. One additional question: could you walk me through the way you came up with the fair price/ price you were willing to pay? Did you just subtract the 6 pct agent commission from the likely market value? Q. How did we make our offer and h...
by SwampDonkey
Thu Apr 14, 2022 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 521072

Re: Tales from this insane real estate market

We closed on our home last month and our approach was a bit unconventioanl. I posted on several local social media sites (mostly FB groups) of who we were and what type of home we were looking for. I asked if anyone was considering selling their home to reach out to us as we may be interested in buying their home before they go through the hassle of preparing to list it. I received well over 20 replies - about 1/4 of them were houses we would have considered putting an offer on. The key points in my posts: - Fully qualified w/ financing and able to put $100k+ as down payment; $10k as earnest money. - Can close as quickly as the sellers wanted to. - We did not have a realtor so they could save on realtor fees. - Willing to waive inspection f...
by SwampDonkey
Sun Mar 27, 2022 5:13 pm
Forum: Personal Consumer Issues
Topic: Paver Patio Cost
Replies: 30
Views: 4415

Re: Paver Patio Cost

$7.50/sq ft for the cheapest pavers. $10/sq ft for "what most people use" type of pavers. Total area was 400 sq ft.

This quote was 2018 in Central Florida. Not a licensed company - two brothers who did this as a side gig.
by SwampDonkey
Sat Mar 12, 2022 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Using "lease-back" period on new home purchase to renovate?
Replies: 12
Views: 1039

Re: Using "lease-back" period on new home purchase to renovate?

It appears our 6-month landlord period will not allow for deducting or claiming any type of improvements on the property. Appreciate everyone's thoughts on this - Bogleheads comes through again.
by SwampDonkey
Sat Mar 12, 2022 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Using "lease-back" period on new home purchase to renovate?
Replies: 12
Views: 1039

Re: Using "lease-back" period on new home purchase to renovate?

We just closed on a home. The sellers are leasing it back for 6 months before we take possession of it. Our intentions are to replace 2,500 sq ft of carpet, replace 15 windows, add a rear fence, and paint the interior of the home before we move in. Question : Since we are technically landlords over the next 6 months, can we claim these purchases as rental expenses if we pay for them while the home is still considered a rental? Confused: Do you mean you are renting as tenants on a home you just purchased and leased back to you? or Did you sell? a home and are now "landlords" per se, on a leaseback? j :D Sorry for the confusion. We purchased the home and the sellers are staying in the home for six months as our tenants (i.e. we are...
by SwampDonkey
Fri Mar 11, 2022 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Using "lease-back" period on new home purchase to renovate?
Replies: 12
Views: 1039

Using "lease-back" period on new home purchase to renovate?

We just closed on a home. The sellers are leasing it back for 6 months before we take possession of it.
Our intentions are to replace 2,500 sq ft of carpet, replace 15 windows, add a rear fence, and paint the interior of the home before we move in.

Question: Since we are technically landlords over the next 6 months, can we claim these purchases as rental expenses if we pay for them while the home is still considered a rental?
by SwampDonkey
Thu Jan 27, 2022 8:21 pm
Forum: Personal Consumer Issues
Topic: How hard is it to install cabinets?
Replies: 62
Views: 6851

Re: How hard is it to install cabinets?

We did DIY kitchen remodel with IKEA cabinets. It was a piece of cake. Their hanging system is simple and works well. The top cabinets are hung on a rail and you can move them around until they are all positioned as you need. The bottom cabinets have adjustable feet so leveling is easy. Hanging the cabinets was the easier part. Took a couple of days including assembly of the cabinets. Plumbing/electical/tile/countertop/sink/appliances were the difficult parts. Going to Ikea is like walking on the moon these days. Nothing in stock. Or expected in stock. If you decide to eventually go the Ikea route, this guy has a five-video series on how to design and install an Ikea kitchen. His videos are highly regarded for their detail and usefulness. ...
by SwampDonkey
Sat Jan 15, 2022 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

My question: would you chase the market and buy in this situation? I fully admit I'm experiencing a bit of FOMO but at the same time, I just don't see how these prices are sustainable. The traditional rule of thumb is that home prices tend to occassionally return to 3x up to 4.5x local average incomes. But markets can stay irrational longer than most humans can cope. We stuck to our budget on our first house, which basically priced us out until the next recession hit, where we had our downpayment and had grown quite weary waiting, but obtained a good entry price on a small old house on a corner lot in a nice locale. Five years later, everything was booming and we had a bit of a windfall from work, so we decided to step directly from our fi...
by SwampDonkey
Sat Jan 15, 2022 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Over the next few years, interest rates may move up. This will knock affordability down. Covid may end (or become endemic), which should reduce demand and potentially increase supply. Why would people stop wanting to purchase homes if COVID ends? Over 80% of Americans live in cities. The prime driver of the suburban/rural home price bubble during the pandemic has been an exodus of people from cities, working from home combined with the very low interest rates, also a response to the pandemic, plus deterioration of urban conditions during the pandemic drove these people out. Many didn't move permanently, just decided they wanted a vacation home, they came in very handy during the first year of the pandemic. Interest rates are going up and p...
by SwampDonkey
Sat Jan 15, 2022 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

All the “RENT! RENT! RENT!” advocates minimize the following: 1. Prices will continue to rise…a). 57 million millennials are starting families..and those downtown lofts don’t look quite as appealing as the6 once did…in the meantime their parents are still alive and therefore need a place to live, and b) building costs will continue to rise due to labor and material cost escalations. Really good points. 2. Probable rent cost escalation in excess of inflation…utilities are going up, HOA’s are going up, maintenance and repair are going up. So your $4500/month to rent a $ 1 mil house NOW will likely be $6700 in three years. Absolutely... and with institutional buyers now investing significantly into SFH, availability of homes to buy will go do...
by SwampDonkey
Sat Jan 15, 2022 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

I don’t think they have gone up as much as you think they have. I can’t find a good source to say you are wrong but in the last year, Redfin says Monument price per square foot has increased 19%. I don’t think 2020 was high enough to get to your assumed increase. Do you have some market data instead of a few anecdotes? I think the anecdote is scaring you. I am not sure why you think you are limited to 800k-900k in Monument? That sounded high to me. I went into Redfin, put in price range of 500k-700k, 4+ bedrooms, 3+ baths, minimum 3,000 square feet with a garage and 22 homes have sold in the last 3 months. 65 in the last 6 months. Castle Rock has had 153 homes sell with that criteria in 6 months. Do you have some requirement that is unique...
by SwampDonkey
Sat Jan 15, 2022 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Their purchase cost: $749k. Their asking price: $1.47M. That's nearly double what they paid for the home two years ago. A homeowner's asking price is not a very accurate measure of appreciation in the area, particularly when the home has not been exposed to the full market. It may be a blue sky number, and moreover, you should expect to pay a premium if you are getting right of first refusal ahead of the market. A few days after she offered it to me via DM, she posted the listing on Social Media and the response she was received by interested buyers and realtors was impressive. I would not be surprised if it sells for above asking. The past valuation trajectory is maybe not relevant? If you are indeed moving to the area, you need a place t...
by SwampDonkey
Sat Jan 15, 2022 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

happyisland wrote: Sat Jan 15, 2022 6:22 am The most recent Rational Reminder podcast (https://rationalreminder.ca/podcast/183) had an excellent discussion on the user cost model of housing (they're discussing the also-frothy Canadian real estate market, but the conclusions seem very applicable here). The most interesting thing I learned was that even though Canadian housing is not technically in a 'bubble', RE prices are very sensitive to interest rate changes so investing in RE now, with interest rates very low is somewhat of a bet that rates will stay low. Thanks for the recommendation; I'll take a listen. :sharebeer
by SwampDonkey
Sat Jan 15, 2022 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Wricha wrote: Sat Jan 15, 2022 6:46 am Bought a house in FL March 2020. Just about double in less than 2 year. We sold last year in FL for a nice gain. 17 offers within 72 hours of the house being on the market with 4 of those being all cash. It was a little overwhelming (in a good way) Terrific, but Fl is famous for these cycles. What might be different :shock: is the vast majority of those house sold are cash buyers. Talk to several realtors who claimed to have only had one home financed in past year. Perhaps, if there is a correction it will not be as severe. If you plan on staying a long time it does not matter all that much.
by SwampDonkey
Sat Jan 15, 2022 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Ostrmat wrote: Sat Jan 15, 2022 12:24 am Based on your timeline of wanting to stay there for 10 years I would recommend buying. With remote work being a standard for many, desirable places like Colorado, etc will likely be hot for the foreseeable future. But even if they aren’t and you don’t appreciate a single penny, you will still build equity and inflation will make your fixed payment feel smaller over time. I would buy and keep your family happy. Good points. Thank you!
by SwampDonkey
Sat Jan 15, 2022 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Since it will be your primary residence for the next 10 to 15 years I highly recommend you buy the house now but buy within your budget. If that budget is $1MM then start looking at homes around the $750K - $800K range so you have a buffer for bidding wars. Look for specifics that matter to you but cannot be changed later such as privacy, location, zoned schools, traffic etc. Don't get absorbed in to the flooring or kitchen counter or appliances etc as those can always be replaced. This house most likely would not be your dream home so expect to pay another $100K - $250K on renovations but that's a second step after securing the home (don't underestimate the anxiety and stress of buying a home in today's market). Good luck! & Welcome t...
by SwampDonkey
Fri Jan 14, 2022 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

gator15 wrote: Fri Jan 14, 2022 10:07 pm Are you tied to Monument? Is living in Colo Spgs an option? You may find the homes to be a bit cheaper there.
Yeah, we're tied to the areas between the Springs and Denver due to work commute. Monument, Larkspur, Castle Rock, etc.
by SwampDonkey
Fri Jan 14, 2022 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

If we decide not to buy, we do have housing available to rent but this is definitely not our first choice. If we were to rent, our rent would be $2.6k/month which is substantially cheaper than any of the mortgages we would be considering. SwampDonkey, Why would you buy when it is substantially cheaper to rent? The cost of making a wrong decision is 500K or more. What do you mean by this? You could do a lot with 500K. You could wait a few years with that kind of money and still make it worthwhile. If we purchase, our plan was to only put 20% down. Our biggest concern is if we wait and the market continues to climb, we would be missing out on buying the house at the cheapest available time (even though they seem way overpriced in the current...
by SwampDonkey
Fri Jan 14, 2022 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Firemenot wrote: Fri Jan 14, 2022 10:03 pm
SwampDonkey wrote: Fri Jan 14, 2022 9:49 pm
Firemenot wrote: Fri Jan 14, 2022 9:45 pm If your alternatives are (i) rent a house that’s acceptable for $2,600/mo or (ii) pay a million to buy a house, option (i) is a no-brainer in my opinion.
Even though the rental is a maximum stay of a few years? At which point we'd have to find anther place to stay?

I should also mention the value of the rental is probably in the $500k range so the house is considerably less nice than the ones we are wanting to buy. The $500k homes are fine to live in for a short time, just not something we would want to consider long term.
What’s the rent on a million dollar home in your area? If you can find that, plug it into a rent versus buy calculator. The NY Times used to have a very good and detailed one. $4-5k.
by SwampDonkey
Fri Jan 14, 2022 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Path to UHNW
Replies: 202
Views: 25150

Re: Path to UHNW

Become a lifelong politician at the federal level. Only slightly joking.
by SwampDonkey
Fri Jan 14, 2022 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Firemenot wrote: Fri Jan 14, 2022 9:45 pm If your alternatives are (i) rent a house that’s acceptable for $2,600/mo or (ii) pay a million to buy a house, option (i) is a no-brainer in my opinion.
Even though the rental is a maximum stay of a few years? At which point we'd have to find anther place to stay?

I should also mention the value of the rental is probably in the $500k range so the house is considerably less nice than the ones we are wanting to buy. The $500k homes are fine to live in for a short time, just not something we would want to consider long term.
by SwampDonkey
Fri Jan 14, 2022 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Since you're going to be living there the real question is what is the cost of rent vs buying? $2,600 to rent vs $4k-4.5k to buy. If we decide to rent, however, we would only be able to stay in that home for a few years before having to find alternative accomodations. In 2006 I was married for a year and we had been renting. We were saving up a down payment for house a few years down the line. But when we got the notice to renew our lease it was much higher then we had been expecting. We looked in the local rental market and it was much the same. So we bought a house for a mortgage not much more than our rental cost (only $150, which the tax savings more than paid for). Of course, we did put 10% down, and had an additional 10 year balloon ...
by SwampDonkey
Fri Jan 14, 2022 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

Example, we posted on social media we were looking for a home in the area. A woman reached out and said they were going to be putting their home on the market but wanted to know if we were interested. They bought the home 24 months ago as a new construction. Their purchase cost: $749k. Their asking price: $1.47M. That's nearly double what they paid for the home two years ago. While I don't think that particular house 2x'ing in 24 months is normal, almost all houses are selling for 70-90% above where they were 24 months ago. Other towns nearby have similarly jumped 60-70%. I don't think we are going to see the appreciation we have seen in the last 3-4 years though. We are seeing price drops, especially in the 800K+ range. Send some of those...
by SwampDonkey
Fri Jan 14, 2022 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

princetontiger wrote: Fri Jan 14, 2022 8:41 pm This housing market will correct in a few years. Florida has the same issue... 2x'd in 2 years. It's crazy. Colorado and Texas are easy places to build, and I'm sure Toll Brothers is licking their chops.
I actually spoke with Toll Brothers today. She said they have been slammed (as has every other builder I have spoken with).

About Florida - I read an article this afternoon about an investor buying a home on Bayshore Blvd in Tampa for $2.9M. The same day he closed on the home, he relisted it for $9M. It's INSANE.
by SwampDonkey
Fri Jan 14, 2022 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Re: Buy now in a housing market that has 2x'ed?

DoubleComma wrote: Fri Jan 14, 2022 7:53 pm I don’t know if it is wise or not, but you mention new construction. How much more than $749 do they have in landscaping? Pool? Etc?
$70k in a rear patio/gas fire pit and basic landscaping around the property. The property is 2/3 of an area and heavily treed so it is a "natural" setting for the most part.
by SwampDonkey
Fri Jan 14, 2022 8:01 pm
Forum: Personal Consumer Issues
Topic: Handling Dispute with Contractor
Replies: 27
Views: 2539

Re: Handling Dispute with Contractor

If it were me, I would not pay in full. I would: 1. Determine what percentage of the bill was specific to the backsplash and what percentage was specific to the counters. Example: 70% for the counters and 30% for the backsplash. 2. I'd pay whatever percentage was determined to account for the counters. So in the above example, I'd pay him 70% of what we had agreed upon (if you've already paid 50%, I would just add another 20% to that). 3. For the remaining percentage I would offer to negotiate with the contractor. He is trying provide you with a finished product that wasn't agreed upon. As such, I'd offer him 50% (or whatever number you think is fair) of whatever remaining balance there is. In the above example, the backsplash was determine...
by SwampDonkey
Fri Jan 14, 2022 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Buy now in a housing market that has 2x'ed?
Replies: 85
Views: 11157

Buy now in a housing market that has 2x'ed?

We are relocating this summer to Colorado, specifically the area between north Colorado Springs and south Denver. Our intentions are to buy a home as we plan on staying in this area for at least 10-15 years. Unfortunately, the housing market in the town we are most interested in (Monument) has gone from warm, to hot, to boiling over (at least in my opinion). Example, we posted on social media we were looking for a home in the area. A woman reached out and said they were going to be putting their home on the market but wanted to know if we were interested. They bought the home 24 months ago as a new construction. Their purchase cost: $749k. Their asking price: $1.47M. That's nearly double what they paid for the home two years ago. $1M is the...