All Forum Posts by: Edward A.

@David New Can confirm, this is the way. You do waive FDIC though.

Depends on the timeline, appetite for risk, etc.

For short/medium term (months), in the current market, I'm a fan of parking it in a high-yield stablecoin (crypto) using a service like Blockfi. I'm comfortable with crypto, your situation may be different. If you use a money market, be sure to shop around for rates. 

For longer term (years), index funds like SPY can work. Keep an eye out for exit points as you come closer to the savings target.

Even for local units, I run all the numbers assuming a property manager is required. If I can get away without one, great -- but worst case is covered. 

Can you sand them down and refinish? I imagine getting the adhesive off and maintaining the original veneer would be pretty tedious. 

Hello!

I'm in the midst of buying out my relatives share of an inherited property. It's currently still part of the estate. I'm hoping someone here can help me with the most efficient way to do that in New Jersey.

I called a title company. Originally they said they would prepare the documents and assist with the transfer. Unfortunately, a few days later they changed their tune and said that I must retain a lawyer for them to help with anything other than informational searches and title insurance.

I'm also curious about the technicalities of the type of transfer. I spoke to a few lawyers who suggested, quite adamantly, that I need a full contract of sale and a regular transfer. However, I feel we only need a nominal consideration deed to buy out the remaining half of the property? 

Any advice or pointers would be greatly appreciated.

For what it's worth, the title company quoted ~$450 for the title check (w/o insurance).

The lawyers I spoke with want ~$900 but require that both myself and my relative each retain a separate lawyer. This seems insane (and wasted expense) for a simple transfer between two trusted parties.

The total value of the estate is well under 600k.

Thanks guys! Could really use some help on this one, even if it's a general direction / who to call.