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All Forum Posts by: Gunnar F.

Gunnar F. has started 10 posts and replied 59 times.

Post: Quality Advice on Overall Financial Picture?

Gunnar F.Posted
  • Dallas, TX
  • Posts 59
  • Votes 10

Thanks a million, James, for the sanity check. I will take you up on that asap. Another idea I had is to reach out to a respected personal finance blogger for some hourly coaching. Take care!

Appreciate the candor, Al! I do have relationships but they are with high-end realtors who are interested in a high-end commission (which would not make economic sense for me)... So I think your analysis is spot on.  I am a bit surprised by the utter lack of interest on AirBnB but maybe my luck will turn. Thanks again!

Post: Quality Advice on Overall Financial Picture?

Gunnar F.Posted
  • Dallas, TX
  • Posts 59
  • Votes 10

Hi, all.

I have a great money guy (I send him my cash and he invests it, achieving great returns since 1997), a great tax accountant, and a great insurance adviser. But I feel I would benefit from the counsel of a kind of overall financial adviser or coach who might be able to spot gaps and give broad advice based on assessing my overall financial picture. The problem is that most professionals I have encountered who might possess this expertise want to sell me investment services, accounting services or insurance as this is how they tend to be compensated. I also don't want to receive advice that skews toward anyone's particular product range.

Would appreciate any ideas for the kind of resource I seek.

Hello! I have a high-end furnished home in an amazing location in Dallas.


I am not sure how long it will be available but it would be between 3-6 months. (The ambiguity is that I am selling the home but the closing date is uncertain.)

Would appreciate any recommendations for a way to get this home rented for at least a couple of months as a stopgap solution for someone. Have not had luck with AirBnB, CraigsList or VRBO or even with a street sign (which usually draws a lot of attention)... despite a rock-bottom price. At a certain point it just becomes too much trouble to rent if I cannot command a reasonable fee.

Anyway, this is the first time I have struggled so mightily since I started renting in 2002 -- usually have competing offers. But I am learning short-term executive rentals are tougher. 

Thanks much!

Hello! I have a high-end furnished home in an amazing location in Dallas.

I am not sure how long it will be available but it would be between 3-6 months. (The ambiguity is that I am selling the home but the closing date is uncertain.)

Would appreciate any recommendations for a way to get this home rented for at least a couple of months as a stopgap solution for someone. Thanks much!

I think I just answered my own question. Based on my last decade of market returns, had I placed $85,000 in the market for ten years I would have more than 4X today. Past performance no guarantee of future results blah blah blah but I believe I will be leaving the mortgage alone. Thanks so much!

Hi, @Patti Robertson. You are indeed a PRO!

This is a relationship built on trust (so not terribly professional but it works in this case -- and to protect him, I have bequested the home to him free and clear in my will).

He is in a basic lease. He maintains the house at his expense and the mortgage payment, taxes and insurance are rolled into his monthly payment. Basically, I break even -- maybe make $100 on paper but the hassle is not worth it. So in the end, it breaks down to whether I want to sacrifice investment capital in the service of this deal. Not exactly sure how to do that analysis but the monthly payment is around $1000/month and some $600 is mortgage principal/interest with $300 going to taxes and insurance and, again, $100 going in my pocket. So were I to pay it off in one lump sum I would basically just owe about $300/month -- though would lose my mortgage interest deduction. (I am having difficulty accessing my mortgage outfit's website but the interest rate is so-so.) 

So given that my broker has made good returns in the market over the last decade I am not so keen to park dead money here. But maybe this does make better sense than what I am doing now. Many thanks!

Hi, all.

My handyman/property manager lacks the ability to get home financing. Years ago I agreed that I would buy a home under my name, rent it to him, and figure out how to transfer title to him or to his young son when the home was paid off (possibly even in my will, if that is the only way to make it work).

Obviously, this was not something I did as a financial masterstroke. I have not been able to realize any meaningful profit on the arrangement. I was primarily motivated by the desire to assist him but nor am I running a charity, so to say, and he fully understands the benefit of being able to borrow my credit in this way. He also appreciates that I can offer him flexibility by not "foreclosing" on him when he cannot make rent on time, which happens a handful of times every year (though he always makes good).

Anyway, we still owe 85K on the house. I was thinking about paying the house off in full and then collecting the rent myself in an effort at least to get something out of the deal. I would appreciate any reactions/ideas/advice.

Wonderful perspectives. Thanks again!

@Greg H. this is a TAR lease and all of the language I have quoted is evidently standard in that template. The lease TWICE states, in conspicuous text (once underlined and once in bold-face) that the Landlord has no duty to pay back the security deposit absent the Tenant providing a forwarding address. So pretty good argument that these conditions would stick under the principle of freedom of contract, regardless of whether the property code would generally lead to a different outcome unless this is deemed contrary to public policy for grown-ups to agree to this (doubt it but maybe tenants are selectively handled under the case law roughly like children in the sense that the average tenant may be deemed by the courts as essentially lacking the capacity to agree to modifications of the security deposit conditions that may disadvantage them).

Also, "Abandonment" is a defined term:

(3) "Abandonment" occurs when all of the following occur:

(a) all occupants have vacated the Property, in Landlord's reasonable judgment;

(b) Tenant is in breach of this lease by not timely paying rent; and

(c) Landlord has delivered written notice to Tenant, by affixing it to the inside of the main entry door or if the Landlord is prevented from entering the Property by affixing it to the outside of the main entry door, stating that Landlord considers the Property abandoned, and Tenant fails to respond to the affixed notice by the time required in the notice, which will not be less than 2 days from the date the notice is affixed to the main entry door.

But as is occasionally the case in this lease, terms are defined but then used in a de-capitalized manner earlier or before, which permits the legalistic argument that the de-capitalized use of the term is broader. For example, the lease also states in a random manner, tucked into the "Move-Out Conditions" clause:

Tenant may not abandon the property. (emphasis in original)

What does this mean? Who knows. The only way we could divine the impact would be by reference to case law. (Interestingly, all of these kinds of ambiguities in the TAR lease would tend to be resolved in favor of the Landlord in my view -- though just speculating. So perhaps tactical.)

To the other comments, the Tenant has clearly moved out as one can see by peering into a window. But she has left a critical mass of belongings there sufficient to give me pause.

I have no way whatsoever to contact her. She doesn't answer mail and never picks up her phone. Will just wait it out and hope nobody breaks in.

Thanks again!

Yes, Levi, but the Abandonment clause does not apply where the tenant has paid rent. :)