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Well I happen to be in a unique situation actually. I recently have had the option to rollover my 401k to a new brokerage firm. I have been selectively selling off each investment one at a time to maximize the sell price (yes, market timing). This may seem like a bad idea, however the 401k I was in had a VERY limited basket of funds in which I was able to choose from. These funds perform poorly compared to the ones I could be picking (and will be in my new IRA) so every penny is needed. The basket of funds was some form of precautionary measure used to prevent idiots from losing everything and blaming the company for not having a retirement.

I have a good understanding of the financial markets and think I am pretty grounded in my decision. I am about to start spending more time researching these picks once everything is set in stone - but I feel comfortable laying off for a bit since I sold at a peak.

I do my best not to purchase my own employers stock either - its a bad idea because you become too attached to the loyalty and become less objective.

Owning a large basket of stocks (modern portfolio theory) is a good idea, but don't base it on silly characteristics like beta. You have to make sure the underlying business makes sense, has trustworthy management, and you purchase the companies at a significant discount that you have a good margin of safety. Ok, it is pretty obvious I'm a value investor - but I learn from the best (Warren Buffet).

It looks like you have done pretty well for yourself, I'll make sure to keep my ears open.

That sounds like a good bit of investor psychology... I need to find a motivated seller.

I really like this post. It is something that I believe deeply in, but always have thought that I could be using better. Maybe I could stretch out a bit? Heh, thanks for the inspiration!

I fail to see how you could have a great credit if you have no reported income and two years of history. What I guess you are saying is that for the last two years you have done a good job of paying your bills on time.

Do you know what your credit score is (as a number)? I always hear people say that they have great credit, because they went to the mall to get a cell phone and the clerk told them they did. Great credit to some companies may not qualify you for the interest rate you want at others.

Sorry to come off harsh, I'm a fellow college student that works (on the books) and I know how it is. I have worked my butt off to have a score of about 720. This still isn't as good as I would like it, but it just takes time (as the bank says) as that is a major factor in the score.

I have been keeping an eye on the local housing market around here (from a consumers perspective, somewhere I might want to live) but I am not sure how to begin. I want to buy a small house/townhome and fix it up while I live in it a few years. From there I hope to sell the house and take that equity and keep the momentum going.

What key factors of my local real estate market must I pay attention to in order to turn a (large) profit over the next few years?

With the Dow at record highs, I (personally) am waiting until the market cools off and I can pick up a few good deals.

Thanks for explaining so well!
I am fairly good with spreadsheets but when it comes to mortgages I am a little confused how I would go about building one so that it would reflect everything. However, it sounds like a fun challenge and I am going to try my hand at it. I suppose it will help me gain a more intimate knowledge of how it will be working. :D

However, just in case I can't figure it out, do you have any advice for somewhere I can find a template? heh

I would have signed up for Skype years ago if my apartment complex did not offer free telephone service included in the rent. It is telephone service offered through the cable company which recenly started offering free long distance (US) as well. The only purpose I would have for using Skype would be for international calls, yet because I call internationally so infrequently it is not as much of a priority.

As I am studying to be an Accountant, I have tons of experience with excel. I would assume that if you were experienced enough with excel, you could create roughly any type of "analysis" tool you wanted in it. As long as you have the correct formulas, and internal knowledge of how each of the processes work. I suppose a special software package could be useful if you didn't want to spend the time but were willing to spend the money. IMHO, Excel has been excellent for me in terms of investing in other things such as the stock market, and managing my personal finances. Taking the time to crunch the numbers allows me to get a more intimate level of knowledge of the investment at hand too.

I suppose I am a little biased though, since I am forced to use excel for many of my classes and have been told the same will be true in my career.

I would also like to add my thank you for all the great advice and knowledge shared on this site.