All Forum Posts by: Jules Aton

Decent size umbrella policy? 

 Love that sofa. Your photos are nice, clean, modern and sans a bunch of dust collectors. 

Excluding my primary residence and second home I'm at 20%. I was heavy in RE but sold most in 2021 and appreciate the simplicity of a Vanguard TSM account as I head into the last 5 years before retirement. 

Sofa struggles for me right now. 1-bd beach condo so not large family traffic. New or used? Having to go see a piece and pay for transport makes used less attractive. High end vs mid range? Don’t like Ashley at all. Wayfair has aesthetically pleasing options but I worry they are cheaply made and won’t hold up. Do I rip the bandaid off and get Ethan Allen or Bassett? What about LaZBoy is that a decent middle of the road option? 

I was leveraged to the point of being uncomfortable when I was single and in my 20s so I get the idea but don’t recommend pulling money out of a retirement fund. Transfer it to new job and find other ways to raise capital for RE. Taking money out of 401k is expensive and you can’t get back the tax benefits of having the money passively grow for decades tax free until distribution. 

If you lived there 3 of last 5 years consider the value of exemption on capital gains tax. The high end rental properties can be a different animal than your run of the mill $2,500 month rental both in terms of upkeep and demand. I try not to let the interest rate tail wag the dog and also find it is way easier to have my investment properties within 90 minutes of my home. Best wishes with whatever you decide. 

Why either or? Diversification is a beautiful thing and a TSM index fund is truly passive investing. I have employer sponsored plans that match contributions as well as a solo 401k and I do a backdoor Roth. 

This is tough. I've worked with tenants in a similar fashion and ended up feeling ok about it but it was short term, over the course of a few months and they paid me something the entire time. I think the issue here is how long Dad has been out of work. That doesn't make sense to me and I would immediately require they start paying something or start process to evict before you are further in the hole. 

OP, sorry about this it is my least favorite part of REI.

I continue to wonder why Fair Housing has a provision for ESA which are not trained, certified service animals. I have always allowed pets with a small fee and think service animals are crucial but don't want to be forced into ESA. We need a lobbyist to address and push for change.

IDK pets can certainly do damage but with a decent long term tenant I tend to want to preserve the relationship. I am small time but haven't ever  had a disaster experience with pets. Generally speaking if the people are clean the pets are also. Then again I always pulled out any carpets from my rentals which definitely helps. If she is willing to pay a pet fee each month and is a decent tenant otherwise why give notice in the spring?