All Forum Posts by: Ericka G.

I’ve been frugal my whole life. My family jokes that my older brother started borrowing money from me when I was six (he was 16) because I always had $ stacked. But now I’m reaching a point where I want to splurge a little.

For those who live frugally - at what point, if ever, did you start enjoying more of the fruits of your labor? Where is the line between lifestyle inflation and just growing up/evolving?

Background for the question: My husband and I live way below our means. We moved into one of our rentals and though we combined will make over $300k (w2 and rentals) in 2018, our current mortgage payment is <$800/mos. We are in an excellent location but are outgrowing our townhouse. It’s old and doesn’t have an attached garage. We can’t afford to buy a house in this area and it is inconvenient for our jobs and other rentals.

We recently found an amazing house that costs ~$450k...,it’s a 1 acre+ “estate” with a circle drive, private entry gate, the whole nine - it basically has everything we want in a dream house after a few cosmetic updates. the location is better for work commute and rentals, but the surrounding area is less posh and we cant walk to restaurants and bars like our current location. It’s more of an up and coming inner ring burb, tho still technically in the city. This same house would cost $2-4million in our current hood. What do you think?

The frugalista in me hates the idea of doubling our monthly expenses but doing the math we can afford this, even if we both got laid off. Curious to see if anyone else has wrestled with life upgrades and if there is a rule of thumb for making decisions like this?

Looking at the report is important - in shocked by how many folks have sub 600 credit driven almost 100% by student loans. If the reason is something explainable then it may make sense to take other factors into consideration and get a larger deposit to offset credit score. If they are just shy of the cutoff and everything else looks solid, you will prob be ok. That said, I’d give the process at least a month before you start bending your rules. Tenant quality should get better as summer approaches - most people want to move when it is warm and/or when school is on break.

Ft Mcpherson is getting a major overhaul in addition to the Tyler Perry studio they are planning a mixed use project with restaurants, condos, townhomes, businesses and a school - all walking distance to ft Mcpherson Marta station. Curious to see how it impacts the area: http://fortmaclra.com/ We just as some friends move to McDon - very nice but sooo far from the city. It’s a trade off I guess

I agree 100% that these are areas to watch and still undervalued - lots of potential. I’d add Cascade to the listed areas on the south side to watch. The only issue is the lack of good public schools...but that is an issue in most “in-town” Atlanta areas that are still affordable. The Ft McPherson development plans make that area of east point look ripe for growth as well.

Tyler Crawfod have you looked into first time home buyer programs or community based programs like NACA? Those will often pay your closing cost and down payment for you and help you get in a position to be a home owner. Their timeline (NACA) is prob 6-12 months which is too slow for many people but sounds like a potentially good fit for you. If you are paying rent on top of your student loan debt, employed, and have ok credit, you should be able to qualify for an owner occupied duplex with NACA.

Thanks for the advice all. I will encourage her to get traditional cable instead or they can place the DISH in the yard...don’t really like the idea of it in the yard either, though

One of my tenants has asked if she can have a satellite dish installed by the cable company and needs a note from me granting permission before she can do it. Do you folks allow dishes on your properties? This is the first time I’ve ever had a tenant ask...I don’t have a problem with it but am wondering if there are potential downsides like damage to the roof?

Mike Hurney LOL. Lawsuit culture in this country is out of control. Just curious why you think they should consider going after the seller? That was their initial approach - to petition the seller for a return of their EMD, but I felt that wasn’t fair as the seller didn’t do anything wrong - the bank and their realtor were at fault. I may not have mentioned this but the HOA provided all needed documentation of renter/owner ratio before the offer was submitted - bank had that paperwork from day 1 but didn’t decline based on it until the day closing was scheduled to occur.

Sant Ii I vote hardwood because it is more durable and on trend. Also, it is more flexible. If you have hardwood and someone prefers carpet, they can just buy a big rug to their taste, but if you add the carpet, you automatically lose someone who would prefer wood.

Paul Haskell to add a female perspective, I’d say it depends a lot on who you marry. If she makes more than you or a similar amount, I think splitting bills down the middle is fair. If she makes less, just have her contribute what is comfortable for you both. It will also depend on her values and upbringing. I was raised by parents who were equal partners so that was my expectation of marriage, but I know a lot of women fully expect their husband to pay all or the majority of the bills. Ask about her feelings on gender roles while dating ;) I agree with others that a prenup (and a notarized will) is also a good idea if you have significant assets, especially since you have a daughter. I’ve seen some horror stories when a spouse dies suddenly and the step parent becomes money obsessed and kicks the kids out/cuts them off.