All Forum Posts by: Rob Golob

I need to add an egress window to a home.

I definitely want to contract the concrete cutting and may or may not want to contract the whole job.

Any recommendations - advice?

Thank you in advance

I'd like to get some opinions on rented farm ground value based solely on "investment value" so to speak. CAP rate, I'd say? In other words, forget the prospect of it being in LA (presumably high value) or Wyoming (presumably low value.)

Income: $11,100/year (Effectively an evergreen lease with 100% assurance of payment)

CapEx: ZERO

Maitenence: ZERO

Taxes: $204/year

Insurance: $100/year

Appreciation since 2012 (Catch 22 situation - That's what I'm trying to determine.) Rock bottom = 5%/year.  Most likely = 8-10%/year.
Thanks in advance

@Michelle Paulsen You state "I want to retire before age 65 so I am leaning towards not putting money in"
On the contrary, the single best way to ensure that retirement at 65 is to contribute to the 401k.

I don't know your W2 income nor your age, but lets suppose: $40,000 (modest income) and 25 years old.

Lets suppose a very modest 2% annual raise.

Lets suppose NO match from your employer.

At 65 you will have an income of $88,000/year.

BUT you will have over $3.5 million in the "bank" (10% annual return) and could retire with a retirement income of $285,000/year.

Additionally, you could retire at 51 and replace your income (that would be $67K at the time.)

You can adjust for your current starting salary but the ratios remain the same.

By the way, I am NOT saying don't invest in real estate.  Nor am I saying you couldn't get there faster in real estate.  I am simply addressing your stated desire to retire at 65 - and this is the most fool proof way to get there.

@Thuy Pham-Satrappe

Consider this conversation:

“Hey Betty, I know you really like this house and it LOOKS lite the flipper did a good job. However notice the mix match appliances. He probably did this to save a couple hundred bucks.

I wonder what other corners were cut to save a buck.

Let’s put a bid on that one with those nice Whirlpool appliances in the kitchen”

@Kurt Linwood

Not nearly enough information.

For example, what if the assets have a cost basis of $4MM.

Yes, unlikely, but not even close to the information needed to provide a an adequate answer.

See previous post.  Pompous as well.

They asked for an exception to the deposit based on "good" income.  You said no - as you should have.

Why would one who asks for a concession be not allowed to "breed."   - The wording of which speaks volumes for your character (or lack there of.)

Today, I just chose to respond here, but there are many that are more egregious.

1. Why would you scoff at them for asking for a discount?  You did your market research, but they did theirs too.  To them, a market of $900 was reasonable.  By the way, did you pay asking price when you bought the house?

2. They asked for a new fridge.  You said no.  I missed the part that caused you to sputter your coffee.

3. You want to utter "Are you crazy?"  Well, apparently they are not.  You stated the driveway "it is ugly and has a lot of cracks."

@Helen Zhang

Lamps Plus.

With the information we have, we have no idea if the OP is losing money or not.  ALL we know is there is a negative cash flow.

That said - I vote sell.  Not because of the numbers but because of the landlord by default situation.