All Forum Posts by: Kevin Phu

Newbie here...so I'm tracking, does that mean he'll have to pay taxes on the 100K he profited? 

I have an idea but I'm not sure it'll work legally or if I'm missing some information.

I work for the government and currently contribute 5% (tax deferred) into my Thrift Savings Plan (TSP) since my agency matches up to 5% (100% of first 3% then 50% of other 2%). This account has been growing steadily (but not as fast as I'd like). There aren't many investment vehicles in a TSP aside from the funds the few funds they have.

Would it be possible or even legal (I know, seek professional legal advice yada yada) to continue contributing 5% (or more) into my TSP to take advantage of the "free money" being matched by the government and then roll the balance every year into a tax deferred SD-IRA so I can invest that money freely?

Originally posted by @Gita Faust:

@Kevin Phu No QuickBooks Online does not have an offline dashboard. What are you looking to accomplish?

 I am looking for something to manage my expenses/income where it also shows a dashboard view of main numbers. I go out to sea a lot where I don't have internet connectivity and want to be able to make updates while I am out as necessary and then have it update my account when I return to land and get connected.

I'm considering having ductless mini split AC installed in my 4br2ba SFR (house hacking primary residence). I live in SoCal and although it doesn't get extremely hot at the house, there are definitely a lot of times I wish the house had AC. The cross breeze doesn't do well with cooling the house down. What are the downsides? How much do value does an air conditioning system add to the home's worth?

Welcome! You came to the right place to learn! Another book I recommend is Performance Anxiety. I, myself, am educating my self on the notes market. Non performing 2nd positions to be exact.

All great advice, thank you! I was really on the fence about the insulation because it gets really cold in there during the winter mornings. I swear... Lol You guys are right. It would not make financial sense not to waste the money on insulation though. So drywall only seems to be the verdict. What would you suggest on the pitched ceiling? I can hang drywall on vertical walls but I don't have the tools or skill to hang ceiling drywall or build rafters to make the ceiling flat. I could leave it open but I feel like it would make it look half assed

I bought my SFR with the garage interior unfinished. The walls are all open and electrical wiring/outlets are installed. I had a few companies come by and give me quotes on insulating, drywalling, and painting. I also used that time to ask specific questions on how to do things so I can learn from them in case I want to do it myself.

I was quoted around 13k for the job. I really don't want to spend that kind of money on the garage. Should I do it myself? Should I leave the pitched ceiling uncovered? My creative juices aren't flowing.

Originally posted by @Mindy Jensen:

@Kevin Phu, that's next on my book list.

 Fair warning, the reader for the Audible version sounds like the Windows speech robot. That put me off from listening to the book for months until I discovered that playing it at 2x speed made the person sound a bit more bearable lol

Originally posted by @Cassi Justiz:

I would at least ask them. Is there anything in your original agreement about how many housemates they could have and what the bathroom situation is? They may not mind, but I personally would be irritated if my rent stayed the same but an extra person got added into "my" personal space.  A small rent discount to the two already living there may help keep the peace. 

No the lease does not state how many housemates they could have. I'm assuming it would be something along the lines of "up to XX adults could possibly be sharing the common areas". I get your point on the rent part but in my defense, they are saving a ton of money by renting from me. Average rent for a 1 bedroom apartment in my city that isn't located in a high crime area (which most of the city is) ranges from $1500-2200 not including utilities. Granted they would have a whole apartment to themselves but it's either 1500-2200 or 700. I don't think I should budge on my current price.

But since I'm open to all advice...what would you consider a small discount? They currently pay $700 each. $50 reduction? Would $50 even make a difference to them? My two tenants make good money so I feel that discount wouldn't change anything.

Keep us posted on how you work this issue out! Would be a great learning experience for everyone