All Forum Posts by: Account Closed

Yes, he essentially said something to that effect, but I do not think that this is his area of expertise.  I've truly enjoyed reading this thread - thank you.

Thanks for your input.  I agree with the suggestion to ask a CPA!  (I have asked mine.)  I feel better also reading the comments from this community.

I current rent an apartment in San Francisco for $2130 and have a garage parking space for which I pay $0, as stated in my lease. My landlord wants to turn the garage into ADUs.  First he offered us (each tenant) $10,000.00 to give up our space.  Then he offered 9 months of free rent.  Are both of these scenarios considered taxable income?  I've read the IRS publications on Taxable Income and Bartering and am still unclear.  Thank you in advance. 

@Kristin Caras

What an inspiration goal! Please keep us posted on your journey. Good luck!

What are the best options for financing for a US citizen looking to purchase a home in Berlin? Are US lenders an option? He will be moving there soon.

@Amanda G. I appreciate your post. It reminded me of this video showing the hate that gets spewed at women online for doing “men’s” work: https://youtu.be/CEfjTfYlFpc I also work in management in my day job. Most of my staff respond well to my management style, but the low performers seem to end up hating me when they find themselves in the progressive disciplinary process. You can’t take it personally- it’s lonely at the top!

I just bought my first property last spring.  It's cash flow positive about $125.  I have about $15k leftover that was also meant to be part rainy day fund part opportunity fund that I didn't expect to touch for a couple years.  I also just took a new job with a 30% paycut (it was worth it).  Then my long time friend and fellow real estate investor (has 3 properties and has been managing two of them for over a decade) approached me about buying a duplex or triplex for about $300k.  Assuming we find a property that we like:

Do I take out a 401k loan for the down payment and keep my rainy day fund liquid for emergencies/market downturns?  Do I pass on the deal now and tell her it's not the right time?

Door number 3?

Thanks in advance.

I got my mortgage through Shaneka Pedersen at Elements Financial.  We closed in 1 month, and she sent me a congratulations plant and gift card afterwards.  This was for a single family home last spring.  

(I killed the plant, sorry Shaneka.)  :(

Here's my advice: read Come As You Are by Emily Nagoski.  

@Carlos Garcia 

I financed a small amount for a car ($5500) while I was in escrow with my first property. It was not an issue because my DTI was still okay. I was earning 6 figures and had no other debt. The hit to my credit was negligible, and I disclosed to the lender immediately.

As for the comment about 6 figure salaries, they don't stretch as far as you might think in some areas of the country.