Best posts made by jaytrader

@thomaspaine aka “none.”

I vote to turn this into a forum, actually. Not that we have to takeover the MS world, but there was never a home for it on FW and Flyertalk has one, but that forum has looked like Iraq for quite a while (sparse rubble).

Thoughts, anyone?

I see a few cash back deals posted already. I think a cash back forum dedicated to these would be best. And, we should have a sticky in that forum showing a mandatory formatting for the title, so they’re searchable. For instance, there is one for eBay right now. The title should have eBay and the cash back site and the percentage in the title, so it’s easily found via searching. These can get lost in a Hot Deals forum real quick.

Thoughts?

@frugalfreak to each their own. But I have to say that seems shortsighted, just to prove a point to a company that doesn’t care about you, or me, or us. But I get it…

Glad to see you brought this over. I have followed that thread on FWF for quite a while and it seems you never abandoned it. Good on ya, and welcome aboard.

@MrsGuin @mikk1 click or tap the three dots in the lower right corner of any post. The option to report is in that menu. You can then write a custom message to the mod team, and your ‘reason’ will be attached to the report. We can take it from there.

@dtasfab while I do agree, some people view ROTH IRA contributions as their emergency fund. You can let the money earn some gains, but then withdraw the contributions if you ever really need to. I am not a fan of emergency funds, but if I was, this is how I’d do it. Just another take on it, because it’s not so black and white. A lot of people do contribute, knowing they’ll possibly withdraw and can’t put the money back in, and are “ok” with that.

@mistercheap But, they are shutting FW down, so clearly they don’t care about biting hands, or limbs.

@thomaspaine said in The INVESTMENT / RENTAL PROPERTY thread!!!!!!:

@jaytrader The condo assn may hate you, but have you considered AirBNB? Comps should be easy to get.
Many condo assns will lose abilities for financing from FHA if they have too many rentals, so they might force you to sell outright.

I believe, per NYS law, they can’t force me to sell nor can they stop me from renting. At least, that’s what the president said at our last board meeting (I’m on the board) and everyone seemed satisfied with that answer. We only have one rental right now.

I’d really rather not AirBNB it. That’s a lot to deal with when the comparable is to just have a 12+ month lease.

@cajundavid Was thinking the same thing. Perhaps a couple $100-150k properties such as smaller 750-1000sq ft apartments or something. But we already own this one, which is why I am still stuck on figuring out what to do. The goal was always to buy it, fix it up a bit (hardwoods, bathrooms, crown moulding, new base moulding, etc.) and either flip in five years or rent it out. We’re about halfway there, and most of what we wanted to do was done or will be done by spring 2018.

@eyj said in Manufactured spending:

There was a FW heavy hitters thread that had a wealth of info back in the day.
https://www.fatwallet.com/forums/finance/1066749
Just about all the heavy hitters have migrated to private forums which is why you haven’t seen a dedicated MS thread on FW. There’s actually a good reason why this has taken place. Back in the day companies were slow to address MS techniques as they spread on the forums. MS methods that had little or no barrier to entry and were almost effortless survived for months and sometimes years. Fast forward to 2017 when companies are a lot more savvy and quicker to respond and a reliable MS technique can be killed in a few days once it is widely discussed online in a open forum…

I was a member of a private MS forum and have since left. It comprised of many of the “HH” folks from FT and FWF, but it was stale data and/or turned into another platform for the HH people to just PM each other, rather than share. I think the whole “HH” thing is overblown these days.

@ananrefugee I used to frequent AnAnd strictly for the fs/wtb forum. I think I have like four posts elsewhere. I had a nice run, flipping Mini ITX stuff, back when carputers were rave-status. I wonder if my account still exists over there. Remember heatware? I think that’s still around…

@mikk1 …of themselves driving a ///////M?

@anusha123 it works well on mobile.

@anusha123 I understand. But mobile is better than nothing huh!

@barrytuneup got a pic?

@ctcarl just take a seat. You’re on To Catch a Creditor, and my name’s Dave.

@fivetalents not one bit in my experience.

@thisguy got it. I typed it myself and it worked. Thanks.

Also, SIS posted over at FWF about this: https://www.fatwallet.com/forums/finance/1586557?showmessage=19976930

Here’s a situation for yall experienced RE investors/landlords:

Bought a 2/1.5/1300sqft condo for $360k two years ago (relevant because we won’t get hit with taxes if we sell and thus aren’t chained to it anymore). Just redid the upstairs bathroom with new tile, new bath/surround, new vanity, toilet was new so we reused it. Had hardwoods downstairs, and I put new ones in when we moved in upstairs so it’s 100% hardwood or tile now. Kitchen was redone a few years before we bought (granite, tile, backsplash, new SS appliances) Zestimate (yes, grain of salt, I know) says $400k. I totally disagree with that, and other estimate sites are a bit more conservative, in the $375k range. Rents for these kind of places are going for about $2500, give or take.

We are thinking that we’ll rent the place out and add the condo to our retirement portfolio as we intend on buying a house within about an hour radius, within a year or two. That means we’d have been here for about four years at that point but it means we have about three years of rentability before we’re now chained to it from a tax perspective (2 years lived in of last 5).

Rent or sell? Monthly nut is about $2900 PITI+HOA. If we rent for $2250 (to undercut the market and thus have a large tenant pool (hopefully)), we’ll about break even after taxes, I think. Any more than that is just gravy. I realize maintenance is a real expense, but I rationalize that by saying if the hot water tank blows up while we live here, we have to replace it. So the same holds true for that expense if we rent it out.

In the lower NY area, I believe rental margins are significantly lower than most other places in the country. I’d be happy breaking even, since it means I’m gaining “free” equity. However, a positive cash flow situation is attractive, of course.

Again, rent or sell?

@bostonone glad to see you!